Elon Musk bought Twitter: he will pay $ 44,000 million for the platform

Elon Musk bought Twitter: he will pay $ 44,000 million for the platform

The Tesla owner is now left on social media; Offered 11 days ago but declined; The firm’s board accepted the proposal this Monday

Elon Musk confirms: he stays on Twitter after 11 days of talks with board
Elon Musk confirms: he stays on Twitter after 11 days of talks with board

Elon Musk is the new owner of Twitter, A platform born in 2006, is a social network that delivers briefly and instantly and which, for many, serves to measure social humor, albeit indirectly. Company Directory Finally accepted the offer, which was rejected A few weeks ago and He sold the company to him for $ 44 billion.: It will become the property of Elon Musk (the richest man in the world) and a consortium of investors, including Morgan Stanley, who are worth about $ 25,000 million.

What is the next landing Elon Musk in Twitter? Promises to add more 21 billion Complete the purchase and pay the related costs.

File - Elon Musk, Founder, CEO and Chief Engineer and Design Officer of SpaceX, speaks at a press conference after the SpaceX Falcon 9 rocket test flight at the Kennedy Space Center in Cape Canaveral, Florida on March 19, 2020.  AP Photo / John Raoux, file)
File – Elon Musk, Founder, CEO and Chief Engineer and Design Officer of SpaceX, speaks at a press conference after the SpaceX Falcon 9 rocket test flight at the Kennedy Space Center in Cape Canaveral, Florida on March 19, 2020. AP Photo / John Raoux, file)

At 4pm and after hours of gossip and anticipation, Twitter confirmed in a statement the sale of the company to Elon MuskOne share for $ 54.20 In cash, a transaction worth approximately $ 44,000 million is included Transforming Twitter into a private firm. Now, of course, we have to wait for the approval of other shareholders and U.S. regulators, which both sides believe will happen in 2022.

I hope even my worst critics stay on Twitter“It simply came to our notice then.”

Initially, the company’s board members refused to sell, even activating a mechanism called “poison pill” – which involves selling shares at a lower price to existing shareholders and limiting the number of shares a company can have. One shareholder. – To prevent the transaction. But sometime over the weekend, after Musk showed he had the necessary funding for the purchase (because he does not have that kind of money in the bank), they changed their minds and today they agreed to sell.

In a text he sent to the United States Securities and Exchange Commission (SEC) on April 14, Elon Musk (who owes his assets to PayPal’s payment system, Tesla electric vehicles and its SpaceX rockets) explains that he invested in Twitter in March. . When he bought 9.2 percent of the company because he believed in it.To be a platform for free expression in its potential “All over the world, and I believe that freedom of expression is a social imperative for a functioning democracy.”

Elon Musk says he is “Absolute freedom of speechAnd believes that the best way to spread this position to the rest of society is to buy Twitter to give it the support it needs to be for international freedom of expression.

Obvious intent Musk is also trying to pull the company out of the stock market; That is, to stop trading on the stock exchange; Like others, he believes that the impact of short-term shareholders – more concerned with the instantaneous value of the stock than with the long-term development of the platform – is an impediment to the proper functioning of Twitter.

that Strong protection of freedom of expression This brought Musk with many problems throughout his life: from lawsuits against him, to leaving the presidency of the company, to paying various fines, to solving inconveniences that he was able to solve thanks to the limitless resources his property provides and allowing you to think beyond the laws of countries. Not available to all ordinary Twitter users.

In addition, Muskie did not always conform to his own positions: for example, he tried to avoid a Twitter account on his personal plane even though the information was public. And protecting their public announcements is not necessarily the same as protecting 200 million users.

View the logo of the American social media company Twitter on the screen of a smartphone
View the logo of the American social media company Twitter on the screen of a smartphone

There are quite a few who believe that no matter how shaky Elon Musk’s intention is that one of the most popular tools for public discussion on the planet remains in the hands of one man (who also has particular views on politics). ) May end up with the opposite effect than expected, increase the various attacks and harassment that are commonplace on the platform, and further enhance public discourse.

What will Elon Musk do to improve Twitter

Musk has repeatedly said that his first steps as Twitter owner will be as vague as “protecting free speech.” Specific changes to the service; Change what you disagree with or what society has long demanded:

  • Activation a Button for editing tweets (Which, according to Twitter, was already in development before the tycoon decided to buy the company)
  • Control Spam bots In the tweets and authentication of the people behind the accounts
  • The longest tweets (From 2017 the limit is 280 characters per message; previously it was 140, to allow posting via SMS)
  • Or Post-organization algorithm That it is open source to avoid any possible bias
  • Content deregulation (Only censor messages based on the laws of each country); Many are waiting for the gesture in this regard by reactivating the Donald Trump account
  • Human authentication (I.e. confirm that a certain person is behind the account)

“Freedom of expression is the foundation of a functioning democracy, and Twitter is the digital arena where issues of vital importance to the future of humanity are discussed,” Musk said. I want to make Twitter better than ever by increasing the product with new features, by releasing open source algorithms to make it more credible. Bot To SpamAnd authentication of all human beings. “Twitter has a huge potential – I’m happy to work with the company and the consumer community to unblock it,” said the tycoon, who now owns Twitter.

Source: La Nacion

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