Musk unlocks the agreement with Twitter and accepts the initial conditions. What will happen to social media?
Elon Musk has re-launched an offer to buy Twitter at the original price of $ 54.20 (€ 54.35) per share, backing off his attempt to abandon the deal and potentially avoiding a controversial court battle.
Musk made the proposal in a letter to Twitter on Monday, according to a document filed with the Securities and Exchange Commission that confirmed a Bloomberg report. Shares of Twitter rose 22% to $ 52 (€ 52.13) at the close in New York.
Twitter, based in San Francisco, said it received the letter and wanted to close the deal at the agreed price, without specifically commenting on how it will respond to Musk. For Twitter, moving forward with Musk's plan portends a future under the leadership of a mercurial billionaire who has spent months publicly criticizing his management, questioning his worth, and changing his mind. This also means that its disputed claims – for example that Twitter lied about the percentage of users who were bots – are likely not going to be examined in a court of law.
Musk has been trying for months to end the Twitter acquisition deal, signed in April. The billionaire began showing signs of buyer remorse shortly after the deal was announced, claiming Twitter had misled him about the size of its user base and the prevalence of automated accounts known as bots. Probably either he has had reassurances on the subject or he already has a solution to the problem in mind.
The real question now is: What will Elon Musk be doing Twitter now? He himself gives us an idea:
Buying Twitter is an accelerant to creating X, the everything app
– Elon Musk (@elonmusk) October 4, 2022
If we analyze the tweet exchanges with various well-known personalities and experts on the subject we have an idea of what the priorities will be (extracted thanks to Zerohedge ). First of all freedom of speech, to restore.
His own ex-wife criticized, for example, the censorship of the satirical site Babylon Bee
Hence the need to keep the twitter algorithm free, opensource, to allow the construction of third party apps on its structure, expanding its notoriety
Hence the possibility of creating a decentralized advertising structure, which is possible through the blockchain. An extremely interesting point and about which he conversed directly with Jack Dorsey, the former CEO and co-founder of Twitter
we could see a real revolution in the world of online advertising and communication, and Twitter would become the center of this change. Will Musk have the ability and the courage to make it happen, against all resistance?
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The Musk article unlocks the agreement with Twitter and accepts the initial conditions. What will happen to social media? comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/musk-sblocca-laccordo-con-twitter-e-accetta-le-condizioni-iniziali-cosa-succedera-al-social-media/ on Wed, 05 Oct 2022 07:00:55 +0000.