Why did Elon Musk buy Twitter, or What does Elon Musk buying Twitter mean? Don’t worry, we have the answers. Elon Musk, CEO of Tesla and SpaceX, has criticized what he views as excessive moderation on Twitter.
Why did Elon Musk buy Twitter?
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He claimed in his statement announcing the purchase “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.” Elon Musk believes that social media platforms should not delete comments that are legal but offensive. During a recent interview at a TED conference he said, “If it’s a gray area, let the tweet exist.”
Twitter now prohibits trolling, abuse, and posts that advocate for or wish bodily harm on someone. Their definition or what constitutes of those buzzwords pretty much boil down to “Party deems only this speech acceptable” right now. Almost not a blacklist, but a white list, for one side of the political spectrum. Other hurdles include a ban on misleading COVID-19 information which was also one-sided throughout the pandemic.
Do you know who owned Twitter before Elon Musk?
What does Elon Musk buying Twitter mean?
Musk’s next goal will be to figure out how to keep his promises to develop new Twitter features, open its algorithms to public review, and tackle “spambots” on the site that impersonate real people. He’ll also have the company start “authenticating all humans,” as he described it in a statement quoted in the Monday press release announcing the acquisition. What exactly Musk meant by the phrase remains unclear.
He wants to introduce a few changes and he asks the community for feedback. These changes may include:
An edit button is one of the most frequently requested modifications from the users. Unlike Facebook, Instagram, and other social media platforms, Twitter does not enable users to edit their posts. Musk has expressed support for letting users modify what they say in their tweets, a notion that has provoked a fierce debate among academics, journalists, and other actors.
There are concerns about an edit function because people think the bad actors (or worse actors than them) to cover up abuse or harassment, or to deceive and control people. As if these things weren’t being done before… Some argue that safeguards should be implemented so tweets might be edited to remove typos while preserving the original message, and that a record of how the tweet was edited should be preserved.
Opening up Twitter’s algorithm for the public
According to Tesla and SpaceX CEO Elon Musk, the programming that controls what people see and how quickly material spreads on Twitter should be deciphered for all to see. He supports putting Twitter’s algorithm on GitHub, a site popular with programmers for sharing computer code.
Some people argue that greater transparency on social media firms would be a step toward greater openness, while propaganda agents claim that revealing Twitter’s complex and muddled algorithm to the public accomplishes very little.
Every day, Twitter processes billions of pieces of material. Understanding how and why tweets go viral, as well as how Twitter’s recommendation system works, is so intricate and dense that the company’s own software engineers can be perplexed trying to figure it out.
Waging a war on bot armies
Another improvement that Musk would like to see on Twitter is the reduction of bot accounts that are designed to react to tweets on certain themes. He has not indicated that he would want to moderate such bots, but he has called for a ban on fraudulent cryptocurrency hustlers. “If our twitter bid succeeds, we will defeat the spam bots or die trying!” Musk tweeted last week, adding that he’d like to “authenticate all real humans.”
Getting rid of advertisements
Almost 90% of Twitter’s revenue comes from advertising, but the company struggles to attract advertisers as the whole site is a big political fight arena. With the firm becoming private, it will not be subject to the same pressure from investors to increase advertising income. It may be time for Twitter to embrace a subscription business model, according to Musk.
He is thinking about introducing Twitter Blue, a premium service that costs $2.99 per month and includes extra functions such as an undo button, allowing users to retract tweets before they are sent. Musk has talked about lowering Twitter Blue’s price, stating that if consumers are paying for it, they shouldn’t have to view advertisements, and that Dogecoin, a cryptocurrency which began as a joke, should be accepted as payment for a Twitter subscription.
How much did Elon Musk buy Twitter for?
Eccentric billionaire agreed to buy Twitter Inc. for $44 billion, using one of history’s biggest leveraged buyout deals. The company said that investors will receive $54.20 for each share they own in a statement Monday. The price is 38% more than the stock’s close on April 1, the last business day before Musk disclosed a significant stake in the company.
Twitter stock price
TWTR stock resumed trading on Monday as the firm revealed it had accepted Elon Musk’s offer to buy the firm. The share price increased 5.9% to $51.79.