Everything that’s happened post Elon Musk’s Twitter takeover
From freedom of speech to tweets directed at the top lawyer at Twitter. Here’s a rundown of the event that have occure in the first few day since Elon Musk Twitter acquisition was made officially.
This past Monday SpaceX CEO Elon Musk purchase Twitterfor roughly $44 billion and shares priced at $54.20. Following the deal, Musk has made a many comment about what he plans to accomplish with this platform. In typical meme lord style Musk continues to upload memes, post, and replie on Twitter. Since Musk bought Twitter it’s been difficult to stay on top of the Tesla owner’s constant stream of tweet and replie. Here’s everything that’s transpire since Musk purchase Twitter.
Musk tweets about free speech in connection with agreement
Musk, the Tesla Chief Executive Officer has long been a vocal advocate for “free speech” on Twitter. In a document in the US SEC, Musk wrote, “I invest in Twitter because I am convince that it is able to become the site for speech that is free across the world, and I am of the opinion that free speech is a fundamental right of the society for a functioning democracy.” saying that “Twitter has incredible potential. I’ll unlock its potential.” .”
“Free speech constitute the foundation of a healthy democracy which is why Twitter is the online town square in which issue crucial to humanity’s future are discuss. I’d like to improve Twitter more effectively than ever by adding new capabilitie as well as making the algorithm open source, thereby increasing trust, tackling bot that are spamming the site and authenticating all human. Twitter has a lot of potential. I am looking forward to working alongside the business and its crowd of Twitter users in unlocking its potential,” Musk said in the press release posted on the Twitter page.To read trending news visit the Most Trustable Website TreeScoupnews.
Twitter Chief Executive Officer and Ex Twitter CEO post deal
Twitter Chief Executive Officer Parag Agarwal believes that the future of the social media giant is uncertain once the deal that will be taken by Musk close. “Once the deal is conclude we’re not certain of the direction the platform will be heading in,” Agrawal said. Twitter has informe its employees that once Musk assumes control of Twitter the company, he’ll join the company for a short Q&A.
Former CEO of Twitter Jack Dorsey was quick to respond. He thanked Musk for taking over the microblogging site. In the tweets he posted, Dorsey said he approved of Elon Musk’s deal and stated that taking off the company of Wall Street’ was the right first step.
“In principle I don’t think anyone should be the sole owner or manager of Twitter. It’s designed to be an entity that is a public good on an operational level and not a business. The problem is being a business However, Elon is the only option I believe in. I believe in his mission to shine the light of consciousness.” Dorsey tweeted.
As per Bloomberg, Musk intends to sell the company to a private investorin the meantime, the company is list publicly one.
Uncertainty following Musk’s acquisition
Twitter employees want responses from Twitter concerning the future of the company. A Bloomberg report revealed that employees did not communicate with management on the implications of this deal to them. They also tweeted CEO Parag Agrawal, and Elon Musk about the implications this deal will have on them. Some even visited Charles Schwab which is the firm which handles their stock options to get a better understanding of the effect any sale of the business could affect the employees.
Musk eliminates any the air on “free speech”
One day after Musk tweet his view regarding free speech, rumor were raise that Musk would allow hatred for the sake of freedom of speech, to be broadcast on Twitter. Musk has stated that he oppose any form of censorship that exceed the legal limit.
The SpaceX owner stated that”free speech” in his opinion is simply a matter of what is in line with the law. “The severe anti-free speech reaction by people who oppose freedom of speech is a clear indication. When I say “free speech” I mean those that are in compliance with the law. I’m against censorship which is way beyond the law. If people wish to restrict free speech, they’ll demand the government to create laws in this direction. So, going above the law is against the desires of the majority of majority of the population,” he wrote on his Twitter account.
Tesla stock falls
Tesla’s stock plummeted by 12 percent. Following the news that Musk acquire Twitter with $126 billion worth of market value being erase. The investor are worrie about the possibile that Musk might decide to sell his share in order to conclude his $44 billion acquisition. That result in an erosion of trust and Tesla’s share fell. In addition, Tesla’s market cap has drop by more than $275 billion from April 4 which is when Musk announce that he was increasing his stake in Twitter which is a decrease of around 23 percent.
The value of Musk’s 17-per percent stake in Tesla has decrease in excess of $40 billion. That’s nearly double the equity share that he committe to during the Twitter transaction.
In the meantime, if Elon Musk decides to end his contract and he decides to do so, he’ll have make Twitter Inc a fee of $1 billion. A condition that Musk must meet to pay is if the agreement fall due to there is no equity or debt, the margin loan financing that is require is not available in the first place, according to the filing.
In the document, Twitter declared that Musk was the recipient of $25.5 billion in credit and margin loan financing. He also has an equity commitment of $21 billion.
Teen who monitors Musk’s private jet has concerns about suspension of his account
Jack Sweeney, the teenager who has become famous for developing a bot to track Musk’s jet travel, believe that his account will be shut down once Musk purchase Twitter. “Elon at his recent TED talk stated that his primary priority is to get rid of the bots that are scams and spam and their armies on Twitter. Would he also include my bot as well as others that have actual use , or simply robots?” he wrote on Twitter.
This is coming as Musk repeatedly stated that he would be a bot account. There was also report previously that Musk was not very happy regarding the where about of his private aircraft being share.
The legal head of Twitter was hit via online harassment
The day after Musk bought Twitter in the past, he criticized the decision of Twitter legal director Vijaya Gadde to block a New York Post story about Hunter Biden in 2020. Musk called the decision “incredibly insensitive.” Although Musk did not mention Gadde in any way but his tweet was in reaction to an article which she was prominently mention.
In the aftermath, Gadde was hit with online threat by Twitter user. Many even used racist slurs that referred to her Indian origins, which included phrases such as “curry,” and references to the caste system in India. Read about printer issue.
Some made use of derogatory language and blame her for her having “destroy many account on Twitter due to being honest.” Some demand that she be dismiss, or suggest she leave by herself. In the meantime, some of the offensive tweet were remove after being found to be in violation of Twitter rule. The next date, Musk again post an additional meme that show Twitter’s “left-wing prejudice. This meme include Gadde’s face, and was met with an ire from the former Twitter CEO Dick Costolo.
Costolo made a post on Twitter and asked what the reason was for why Musk did not explain why he was “making an executive from the company that you purchased the object of threats and harassment.”
Elon Musk tweets about purchasing Coca-Cola the following day.
This tech billionaire has been teasing his followers about purchasing Coco-Cola. Musk even said he’ll buy the popular cold drink to “reinsert the cocaine into’. Elon musk also posted a picture of a tweet from earlier where Musk said that he was “going to purchase McDonald’s and repair all the machines for ice cream”. Musk joke with himself “Listen, I’m not able to perform miracle. “.
However, even if Musk was determine about Coco-Cola acquisition, it would remain a distant dream for Musk. According to Bloomberg’s report Musk’s wealth is currently $253 billion. The super-billionaire in the beverage industry is with a market capitalization at $284 billion.
