Izay Ayesha describes an important development
The maverick Elon Musk takes over Twitter and true to his image immediately fired its top executives. It is expected that he would bring about wide-ranging changes in the make-up of this global platform, particularly with respect to its bots regime that has become quite a nuisance for the social media world.
Fearful of his aggressive and unconventional approach, the company had initially resisted a $44 billion offer but later sued when he announced plans to abandon the deal. Interestingly, Twitter’s chief executive Parag Agrawal was among those fired, along with the chief financial officer, Twitter’s top legal and policy executive, and the company’s general counsel.
In his cynical style Musk, a few hours later, Musk tweeted, “the bird is freed,” a reference to Twitter’s logo. He had also tweeted a video of himself walking into the company’s headquarters carrying a porcelain sink, posting: “Entering Twitter HQ — let that sink in!’’ The Tesla CEO also changed his Twitter profile to refer to himself as “Chief Twit” and switched his location to Twitter’s San Francisco headquarters.
In response, Thierry Breton, the EU’s top official for internet regulation, warned that the platform still had to obey European laws. “In Europe, the bird will fly by our (EU) rules,” he said. It promises to be at least a word or words that soon may turn nasty as Musk loves to pick up fights as this is his preferred way of doing business and thriving.
Musk shared a message in which he claimed the speculation over his intentions regarding the purchase of the platform had been wrong and that he was buying Twitter to help humanity.
Elon Musk’s Twitter Stock
Twitter’s stock had edged closer to Elon Musk’s $54.20 per share buyout offer for the platform and that was a sign that investors expected the $44 billion deal to proceed ahead of a court deadline at the end of the week. The Friday deadline to complete the deal was ordered by the Delaware Chancery Court in early October. The ruling followed an epic battle during which Musk signed a deal to acquire Twitter, then tried to withdraw from it. Twitter subsequently sued the Tesla CEO to force him to go through with the deal. If the parties did not meet the deadline, another legal hearing could take place in November.
Many Twitter users have expressed concern over Musk’s pledge to protect freedom of speech on the platform including mulling the option of reinstating former President Donald Trump who was kicked off Twitter for his connections with the 6 January riots at the Capitol in Washington. The deal to put the social media platform into the hands of the richest person in the world has also raised concerns.
Reactions to Musk’s takeover of the micro-blogging site were coming in from across the globe on Friday morning. The EU official overseeing internet regulation cautioned the new Twitter boss that the social media giant must play by the bloc’s rules in Europe. European officers suspect that Musk will bring his typical style of business management into handling global management which has plenty to do with the sentiments of common people as Twitter is all about people.
CEOs And Owners Of Dot Com Enterprises
Many people are alarmed about the tendency of extreme ruthlessness reportedly exhibited by Musk that is directly against the magnanimity shown by CEOs and owners of dot com enterprises keeping in view their wider public usage but Musk is completely devoid of such feelings and may ruffle feathers as much as he can. It is expected that his takeover would be a rollercoaster that may be financially beneficial to Musk but may be disastrous for Twitter as it will be surprising if senior people will stay around.
Elon Musk Takes Over Twitter will try to innovate by bringing in a new vision for Twitter that would be in complete contrast with the previous one. He aims to play a role in bringing social media and Web3 together in order to broaden the use and adoption of crypto and blockchain technology so that Twitter’s appeal is broadened. It is quite a good idea provided it works though it may not work as the top executives required to implement them have been fired and the new executives will take some time to settle in.
Some people have already started to question how Elon Musk Takes Over Twitter is going to use Twitter. They suspect that from now on Twitter is going to become a cesspool for misleading statements and in all probability, it may not remain accessible to everyone as it was before Musk acquired it. Skeptics seriously question the rationale of the acquisition as Musk is not rated to be the right person to be running a tech company of this genre and knows absolutely nothing about the terms of trade associated with it. The Weekender