Elon Musk has long been known as one of the most forward-thinking entrepreneurs in the world, and his latest venture is no exception. On Monday, it was announced that he had reached a deal to buy Twitter.
The purchase comes on the heels of Musk’s public offer to take over the social platform last week, which quickly drew widespread attention from industry experts and Twitter users alike. This purchase is polarizing, and both sides of the political spectrum have something to say.
At a price of $54.20 per share, the deal is valued at approximately $44 billion and will make Twitter a privately held company once again. Taking twitter private will give Elon Musk the ability to operate as he sees fit.
Although some have questioned whether such a move makes sense for Musk and his other projects, others believe it is just the kind of bold investment needed to keep up with changing trends in social media. This purchase may ultimately help make Elon Musk’s other companies more money. Whatever the case may be, there’s no doubt that this acquisition is one of Musk’s most ambitious endeavors yet.
For all those keeping score at home, this means Elon Musk now owns a significant information/ social media platform.
One man has the sole power to run Twitter and its endeavors. This may sound like a rather dystopian statement, but it is actually the case.Elon Musk will have complete control over the social media platform. He can unilaterally make decisions about what content is allowed on the site and what isn’t. He can also decide to suspend or delete accounts at will. This level of power gives Musk a tremendous amount of influence over the public discourse.
Many say his campaign for free speech makes this nothing to worry about. These people will say this is a good thing. Regardless he has the ability to moderate content and keep the site sanitized. Others would say that it is a dangerous concentration of power in one individual. In any case, Musk wields a great deal of control over Twitter and its millions of users. It’s one man now in control of 1/5 of all social media.