Elon Musk buyed Twitter and celebrated the purchase on social media. ”The bird is free,” he wrote. Will it really be so? We review here the details of the affair.
It has been a tortuous path that has led Elon Musk to buy Twitter, a social network that boasts the amount of 330 million monthly active users.
After various vicissitudes – including legal ones – he finally got his hands on Twitter, in a move that has enriched his already considerable empire.
But what lies behind the purchase?
The stormy fight between Twitter and Musk before the purchase
After hesitations, endless events that saw Musk and Twitter clash on different fronts, in a war that lasted months, both adversaries can lay down their arms. The social network belongs to Musk.
Let us retrace the endless treacherous road, there will be much to tell.
It all started in April 2022, when the Tesla patron concluded a deal to buy and sell the platform worth 44 billion dollars, only to change his mind and bolt. The reason? Twitter allegedly lied to him about the actual number of registered users, very often ‘junk profiles’ of mere value.
However, Twitter took it so personally that it filed a lawsuit against the giant, which started a real war. In fact, this unleashes the fury of Musk, who decides to countersue the social network, claiming it is guilty of fraud, a violation of the Texas Securities Act.
But it doesn’t end there: Twitter is accused of using outdated and vulnerable software. Also, of having a myriad of fake accounts among its users. Again, of doing little to combat spam, and of the lack of solutions to solve security problems.
The war also shifted to the political and ideological level. Musk claimed that all these ”serious shortcomings and negligence” could undermine democracy.
The turning point was supposed to take place last 17 October, when the two sides would clash in the courtroom. We use the conditional because Musk has again changed course, going back to the early days of the affair, before this battle with such unexpected implications began.
In fact, 28 October 2022 is a historic day for Twitter. Officially, the social network passes into the hands of the American entrepreneur.
Elon Musk buys Twitter and celebrates the purchase by firing some executives
From 28 October 2022, Twitter becomes part of Musk’s empire. He celebrates the purchase with a tweet with strong ideological content.
”The bird is finally free” he says, reiterating the line he had pursued during the ‘war’ with Twitter, which had seen the social networking site accused of fallacies dangerous to the democratic order.
However, this is not the only arrow fired by Musk.
In fact, Musk ended the buyout on a high note with the dismissal of four top managers. They are CEO Parag Agrawal, chief financial officer Ned Segal, chief legal and policy officer Vijaya Gadde, and general counsel Sean Edgett.
Moreover, at least one of them was even escorted out of the San Francisco headquarters.
Why Musk bought the social network Twitter
Regarding the various rumours leaked by the press – also seeing the immediate move of the Tesla patron -, Musk emphasises that there is no intention to cut the workforce by 75%.
On the contrary, the entrepreneur promises to revolutionise the platform. Thus decrying his love for Twitter and his intention to help humanity.
In this regard, Musk says:
“I buy Twitter because it is important for the future of civilisation to have a digital communal square where a wide range of ideas can be discussed in a healthy way without resorting to violence”
He goes on to say that he wants to prevent the social network from becoming embroiled in hate dynamics caused by the division into ”resonance chambers of the left or the right”.
Another of Musk’s intentions lies in the creation of X, a super app that would include functions similar to those of WeChat, used in China.
The entrepreneur also speaks out on the desire to abolish censorship. This is a measure that could ensure the return of former US President Donald Trump, who was banned from Twitter following the assault on the US Congress after the election of Joe Biden.
Where does Elon Musk want to go with the purchase of Twitter?
Despite the above-mentioned good intentions of the US entrepreneur, some questions inevitably arise.
Twitter is a social network with an incredible resonance and affluence of users. A veritable audience that consults the application on a daily basis. Faced with the exorbitant number of subscribers – 330 million active monthly so far – one wonders if something ‘dark’ is lurking behind Musk’s purchase of the social platform.
After all, Twitter’s immense audience was the only link still missing to make the chain of his empire even more powerful and solid.