We'll take a look at the real reason why Elon Musk bought Twitter for 44 billion dollars. You'll see how Twitter can be used as a powerful marketing tool and how it can benefit your business.
Well, let's do that, let's talk about Elon Musk's purchase of Twitter, it's a topic we largely avoid as a tech-focused site, but now that it's taken the official leap from speculation to confirming a Twitter purchase, we probably need to examine what this is. I mean for Elon and his portfolio of businesses because this will undoubtedly have a broader impact on the surface.
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| The Real Reason Elon Bought Twitter For 44 Billion |
Elon says He's buying Twitter because he wants to protect freedom of expression and democracy in a series of slides of text posted on his Twitter feed.
Elon writes that it is important for the future of civilization to have a shared digital city plaza where A set of beliefs can be discussed in a healthy way without resorting to violence which I think is something most people could easily agree on about a great idea but we seem to have a much more difficult time agreeing on how this architecture has to be built and who should run it.
Elon Musk may not be the best candidate for the job, but he's not the worst either, and the only thing we can say for sure is that Elon didn't buy Twitter to make money.
Don't think you'll find a single person claiming to have made a big deal to buy a $44 billion social media company into this economy, especially as we watch the old Facebook guard slowly crumble and burn What does Elon intend to do in this situation on Twitter, why is he doing it, let's try and work out a foreign solution?
The Art of The Deal
- Let's try and remember how we got here in the first place because it was around the time this all started back in March when Elon started thinking that he seriously thought about building an alternative to Twitter and little did we know that Elon actually started buying huge amounts of Twitter stock They reached out to the board and the company's CEO to talk about the possibility of him taking his own seat on the board.
- Then public regulatory filings in April revealed that Elon had already raised a 9% stake in Twitter stock worth about $3 billion the next day Elon was offered a board seat.
- The company is on the condition that he stop buying more tweets from CEO Parag Agrawal, and it turns out to us that he will bring significant value to our board of directors less than five days later. He reportedly sent a letter to Twitter's chairman, Brett Taylor, and said that fixing Twitter by chatting with Parag wouldn't work as drastic action.
- The board of directors a few days later on April 14, a securities filing showed that Elon made an offer to buy the entire company for $44 billion, and then there were months-long back and forth where Twitter said they didn't want to buy and tried to thwart what they called a hostile takeover, and then they changed Their opinion and they accepted Elon's offer.
- Then Elon started saying that he probably didn't want Twitter because they couldn't properly account for spam bots and fake accounts and by July he had decided he wasn't actually going to do the deal at all, but Twitter seems to have prepared for the idea of a hostile takeover The whole thing was sued and they sued Elon to force him to buy Elon's counter-clothes, and then the whole situation fizzled out. Burner, while lawyers said about their work leading us to October when things got interesting again.
- Elon tweeted a fourth buy Twitter, an acceleration of X's creation of an app for everything, and followed that up by writing Twitter would probably speed up X by three to five years.
Buying Twitter is an accelerant to creating X, the everything app
— Elon Musk (@elonmusk) October 4, 2022
But I could be wrong, so this was our first real indication that Elon has bigger plans for Twitter than just asking for censorship again and making the platform more open, he wants to leverage the Twitter platform to finally build x. Whatever it seems, basically the whole thing won't tell us anything what we do know is that Elon made the decision to give up his court battle just days before he was taken up by a lawyer on Twitter.
Surely he would have been exhausted and likely to reveal questioning that may have played a role in his selection, Elon has been given until October 28th to come up with 44 BZs he has collected from a variety of partners and investors ranging from personal friends to contributed by Silicon Valley tech giants. In a very controversial contribution. From the Crown Prince of Saudi Arabia and finally, on October 26, Elon walks past the door of Twitter headquarters in San Francisco holding a kitchen sink, announcing that he left that sink the next day.
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
Elon explained that the time he spends lifting weights will only be temporary, but for now, at least he's traveling solo, sure we can get to all the flying hotspots from unknown sources familiar with the topic that he says Elon will be leaving three-quarters. From the employees, they started charging $20 a month to get a blue check mark and bring back Donald Trump but none of that really matters.
Why Did Elon Buy Twitter
Well, hear me out on this, there seems to be a lot of similar intent between Elon's goals with Twitter and his mission to colonize Mars, it's not something that will benefit him financially and will undoubtedly make his life more difficult but he wants to do these things because he really believes they will benefit humanity in a big way or even Totally saves her.
And this is where it becomes very easy to accuse Elon of being cocky or of delusions of grandeur and that may be the case here than what Elon wrote in his letter to Twitter Ad clients, there is currently a high risk that social media will crack into echo chambers On the far right and far left which is generating more hate and dividing our society.
- And he is certainly right in that expectation that it really started with those associated with the far right, they moved from Twitter to other platforms like Donald Trump's real social schema spaces that cater to their needs.
- I never show them content that they agree with and supports their view of the world, and I don't know if there's anything similar to people on the far left who seem to spend their time using Twitter to write about how much they hate Elon Musk and how they're going to leave Twitter but I don't think they actually have anywhere to go but I guess we'll find out let me know in the comments below if you know another platform but that's kind of the point Twitter obviously you haven't, you've been working as a group forum for netizens so something has to change.
- And at least Elon knows that just Open the portals and making Twitter the embodiment of the old school 4chan will not work Elon's book quote that Twitter cannot become a free place for everyone where anything can be said without any consequences In addition to complying with the laws of the earth.
- Our platform should be warm and welcoming to everyone where you can choose your desired experience according to your preferences, we just choose for example watching movies or playing video games ranging from all ages to maturity and this is an idea that has been in mind for several years recently different forms so that you can choose a level The freedom of expression you want to see on Twitter just like you can choose a movie based on its content rating.
- It's probably more difficult to implement than it sounds and then there's an X app, that's probably the real reason for all of this, so we know Elon loves the letter X And that's the name he calls his firstborn with Grimes Born in 2020, x.com was Elon's original attempt at an online bank he founded in 1999 after a merger with a software company, Peter Thiel acquired X and turned it into PayPal in 2017.
- Elon domains bought again from PayPal If you go there today it's probably a blank page with a drop of one x in the top corner WeChat in China WeChat is used by over a billion people as an all-in-one social browser for Instant messaging and mobile payment app Mobile used to order food taxis and the good news woven into the fabric of everyday life.
- Elon talked about this in an extensive podcast in May of this year, he said I think such an app would be really useful and just useful some sort of spam-free thing where you can Give Feedback You can post videos I think it's important for creators to get a share of the profits During Tesla's annual shareholder meeting in August.
- Elon said he had a great vision for the X as something that would be very beneficial for the world, but Elon also said he doesn't need Twitter to create X, and it's even only speeding up the project from three to five years, so is this really worth $444 billion I don't know that sounds like har Despite everything we've been talking about today, it seems that This x app seems like a way for Elon to actually make money, and Elon probably thinks he can make that money again in three or five years of time.
- He saves on creating an all-consuming app, there is definitely potential to make a lot of money if he can build one platform that does the same job as Twitter WhatsApp PayPal Uber and Google think about it.
- So the question remains possible can Elon Musk save democracy and tackle Our community divided simply by reworking a social media app Can he take advantage of this purchase to create one Thanks to all the people around the world Is this just a purchase from Impulse getting out of hand now he's just trying to do his best I guess We'll just have to wait and see.
Who owns Twitter before Musk?
- Twitter was founded in 2006 by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams.
- The company began as a private entity with Dorsey as its CEO. However, in 2013, Twitter went public and is now mostly owned by large, institutional investors.
- The Vanguard Group became the biggest Twitter shareholder after the company's IPO.
- Before Elon Musk's purchase, Dorsey and fellow co-founder Evan Williams were the largest stakeholders on Twitter.
- Musk's purchase of $44 billion worth of stock has made him the largest shareholder on Twitter. Dorsey has retained a 2.4% stake in the company.
Elon Musk is one of the most innovative and forward-thinking entrepreneurs of our generation. So when he makes a move like buying Twitter for $44 billion, it’s worth taking a closer look. Let me know in the comments below!