logo

Blog

Articles
AnnouncementsReports

Weekly event: Elon Musk bought Twitter

Reading time2 mins reading
Fun stuff
5/2/2022

This time, we only had one event that really surprised us last week. Maybe even not the event itself, but the reaction it caused and the changes that will happen.

The world’s richest person, Elon Musk, secured a deal on April 25, agreeing to buy Twitter for $54.20 a share — valuing the firm at roughly $44 billion. 

GETTY IMAGES
Source: GETTY IMAGES

Musk has said that part of the reason he wanted to own Twitter is that, in his mind, the changes that need to be made to the platform can only be done if it’s a private company. 

Musk shares this sentiment with Twitter co-founder and ex-CEO Jack Dorsey, who tweeted on Monday that the company “has been owned by Wall Street and the ad model.” Dorsey said that going private “is the correct first step.”  

"Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated," said Mr. Musk. "I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spambots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it."

This is what Elon Musk said on Twitter

The public reaction was not clear-cut. As Elon Musk’s Tesla company was sued over alleged racial discrimination, he has been criticized often and has lost his “image” of a progressive guy.

Let’s have a look at what public figures have said after Twitter was sold to Musk:

Activist and author Amy Siskind had a similar reaction to the acquisition. "I am sitting with my thoughts and watching and haven't decided if I am staying here. I have a huge philosophical issue knowing whatever content I provide here goes directly towards enriching one man, who I think is absolutely awful. Watching. His platform is hemorrhaging users," she tweeted on Monday.

Ice Cube, who claimed he got "shadow banned," a partial suspension during which an account exists but is not visible in search or feeds, rejoiced at the news. "Free at last! @elonmusk take off my shadow ban homie," he tweeted. 

Users reaction was fulminant

Where will the new Twitter owner take us? We’ll see pretty soon. But what we hope for is that there will be at least one social network showing that freedom of speech does exist and that it is what humankind really needs.

Share this article