The internet has been split since Elon Musk’s attempt to acquire Twitter was accepted. Here are four reasons why the acquisition might be beneficial.
Since Elon Musk’s purchase of Twitter was disclosed. The internet has been divided on the topic, with some praising the shift and others not so much.
However, there are other reasons why Musk’s takeover of the corporation might be beneficial. We’ll look at four of them in this article.
Elon Musk’s bid to purchase Twitter was accepted
Musk stated in April 2022 that he has made an offer to acquire Twitter. Having first purchased a big number of shares, the wealthy businessman decided to put out an offer to purchase Twitter shortly after.
Elon Musk (@elonmusk), April 14, 2022: “I made an offer. https://t.co/VvreuPMeLu”
After submitting a bid to acquire the firm, the board accepted it, and the transaction is expected to close later this year. While the firm has yet to change hands, the transaction is likely safe due to the deal’s $1 billion opt-out clause.
Here are four reasons why this acquisition may be beneficial to Twitter…
1. Twitter Could Be More Serious About Free Expression
When it comes to free expression, Twitter does not have the finest reputation. When it comes to politics, many on both the left and right feel that Twitter, its algorithm, and content moderators favor one side over the other.
In general, Twitter users complain about shadowbans when they post tweets regarding specific topics. While Twitter’s disinformation guidelines are intended to safeguard users, they may raise ethical concerns about free speech and who judges what material is misleading.
In an interview with MIT Technology Review, current Twitter CEO Parag Agrawal previously outlined how the site is truly favoring certain users over others.
One of the differences we observe now is that speech is simple to get on the internet. Most individuals can communicate. Who can be heard is a very important aspect of our duty. Today’s precious commodity is attention.
And so, increasingly, our role is shifting toward how we recommend content, and that’s a struggle that we’re working through in terms of how we make sure that these recommendation systems that we’re building, how we direct people’s attention are leading to a healthy, participatory public conversation.
Musk, on the other hand, is a self-proclaimed “free speech absolutist” who has pledged to uphold free speech on Twitter to the letter of US law.
There is debate over whether US legislation goes far enough to protect users from hate speech. This is frequently a question of personal preference.
Twitter includes user protection safeguards, but it is unclear if Musk would maintain any of them in the future.
Musk earlier stated that if the most extreme 10% on both the left and right are equally upset, the strategy is working. This implies that Twitter will be protected against insane conspiracy theories and destructive information.
2. Musk Suggested Several Twitter Improvements
Musk intends to modify specific Twitter features, and while they have yet to be implemented, his proposals appear to be beneficial to the network.
Making Twitter’s algorithm open-source is one such enhancement. This will give some transparency into how Twitter operates, ensuring that no content biases exist. It will also make it easier to understand how various Twitter features function, as well as how adverts and promoted content are selected for users.
Other enhancements include the removal of all annoying bots that publish spam on the network. The addition of an edit button, features that make Twitter Blue worthwhile and enhanced user authentication.
3.. Current Shareholders May Benefit from the News
While Elon Musk will control the firm privately after the deal is completed, Twitter will remain a publicly traded corporation until then. This implies that current and new owners can continue to exchange their shares for profit or loss.
The Twitter share price will continue to fluctuate as Musk reveals more specifics about what he expects to do or execute when he takes over. If investors believe in Musk’s promises. The price will climb, perhaps resulting in some large returns for stockholders who trade before the final sale.
This is heavily contingent on how people see Twitter’s future after the sale, but as the date approaches, stock prices may continue to rise.
4. Musk’s track record in business should help Twitter succeed.
Leaving aside personal thoughts of Musk, there is no questioning his track record of success in previous companies. Musk started PayPal many years ago. And it has since grown to become one of the largest online payment services, which it still is today.
Musk is now the CEO of Tesla and the Founder/CEO of SpaceX. Both firms are focused on the future, with one developing AI self-driving vehicles and the other developing spacecraft for space travel and study.
Musk’s public character has catapulted both firms into the public eye. And they are both billion-dollar businesses in terms of income and valuation.
It’s probable that Musk will apply his successful expertise in tech firms to Twitter. The businessman understands how to operate a firm, and we can expect Twitter to do the same.
Musk, whether you like him or not, has the potential to improve Twitter’s future.
Much is about to change now that Musk’s offer to buy Twitter has been approved. It’s occurring, whether it’s an edit button on the platform, a policy shift that allows for free expression, or just the name on a piece of paper.
And, given Musk’s track record of economic success and projected improvements, Twitter might be in for a bright future. Let us hope it comes true.