Elon Musk, the world’s richest man offered to buy Twitter on 10th April 2022. But after almost 2 weeks, the company accepted a Musk’s offer of $54.20 per share, or roughly $44 Billion. The offer was non-resistive for Twitter to accept. And the former CEO of the company said that Elon Musk is the singular solution he trusts for the company.
But is this social media platform worth buying for the world’s richest man or not? And what were exactly the reasons for buying a public company at that high price? Let’s take the answer to your queries in a deep analysis:
Is Twitter Worth Buying for Elon Musk or Not?
On the 14th of April, when Musk talked on TED 2022 and claimed that he isn’t interested in acquiring Twitter to make money off it. And he doesn’t care about the economics at all.
And he also said at a point that (Buying Twitter) is not to sort of making money and he thinks, his strong intuitive sense is that having a public platform that is maximally trusted and broadly inclusive, is extremely important to the future of civilization.
If he doesn’t want to make money from it then why does he buy a public company? He also said in the interview that he was also considering making a social media platform. But now he ends up buying a 200 million daily users platform. Musk liked to buy ready-made stuff for this purpose and he can make changes to it if he’ll want.
It was a quite good option for him. It is absolutely worth buying. But is he just want to build a platform like Twitter? or does he just buy because of the users? These questions are still popping up in your head. So, let’s take the answer.
What are the Real Reasons for Buying Twitter?
His talk in the interview with the head of TED Chris Anderson shows that Musk is not buying the company just to make more money out of it. Then what are the reasons behind buying a public company? Let’s dig into the reasons:
1. Free Speech
Elon Musk wrote a letter sent to the company Chairman Bret Taylor that Musk believes in the company’s potential as a platform for free speech around the globe and he has a belief in the societal imperative for a functioning democracy.
According to Musk, the public company needs to go private because a public company can “neither thrive nor serve” free speech in its current situation. And he also wrote that the platform has extraordinary potential and he’ll unlock its potential.
2. Open Algorithm
Musk said in an interview at TED 2022 that he wanted Twitter to be an open algorithm platform. So, what is it really mean? It means that Twitter was a public platform and the company banned many users’ accounts just because they say something very openly which was abode by the law of the country. And Musk also twitted about it recently.
Many people said Musk is buying Twitter because the platform banned Trump’s account. It is funny, right? But apart from it, the Billionaire bought the platform 100% for providing a platform for all those people who talk openly without any fear of being banned.
He considered the public company banned many accounts which were providing authentic information and according to him, the accounts should ban.
But he also added the violence and spread of wrong information will be a crime. So, try to avoid those things in the future.
Final Thoughts
We are hearing that the official statement will be made on Monday afternoon about the deal by the authorities. So, the deal is almost official. But many people are wondering whether they should leave the platform or not. But as we hear Elon Musk talk at TED 2022, musk will be looking forward to making some positive changes. So, we are looking forward to seeing them. What do you think Will Elon Musk prove his statement true or not? tell in the comment section below.
You can also check Google’s latest updates.
