What’s going on between Twitter and Elon Musk?
A few days ago, everyone was talking about a completely unexpected event. Elon Musk got Twitter for $44 billion and he announced his ambition to make big changes. On May 13, 2022, we learned that Elon Musk was “freezing” the acquisition of the social network due to pending details regarding the number of fake accounts existing on the platform. Is this move part of the big changes that Elon Musk wants to make?
Still, Twitter stock plummeted on Friday, May 13, following news of the deal’s suspension. However, during the day, it pared its losses somewhat, but still saw a decline of around 11% in pre-conference e-commerce.
According to Elon Musk, Twitter has not implemented a satisfactory development model until today. He believes the company faces many issues that make it difficult to survive, despite having nearly 217 million daily users.
He plans to focus on four key areas to lead Twitter into a new era. These four key areas are software engineering, design, information security and server hardware. Another key area where it wants to make changes is adding new features.
Moreover, he wants excellent managers in the technical field. According to Elon Musk, software managers should write great software.
Elon Musk is one of the daily users of Twitter. He has more than 90 million followers and his posts over the past few days include information for both SpaceX and the Twitter acquisition deal.
The message he wrote on Friday, May 13, saying “always committed to the acquisition” reached more than 8,000 comments from his followers. Some of the most characteristic comments we read were those below: “Why? It’s not worth the shot? Twitter is mostly an echo chamber and not as influential as you might think”, “All the reasons you gave for doing the deal still stand”, “Maybe you should first fix the staggering devaluation of Tesla”, “Elon, are you just discovering the bots now, after your attempt to acquire Twitter? Or have you known them all this time?”, “Cool. So if you engage you should have an answer to this, Spaceman: Will there be standards or can anyone say what they want in Twitter 2.0?”, and “Well, no matter what, you have accomplished one thing. You showed the world how corrupt Twitter is. You acted while everyone was crying. Thanks for that and I’ll let Twitter’s door knock on my way out if it doesn’t.”
However, Musk has already sold $4.4 million worth of Tesla stock. Rumor has it that the money could potentially cover Musk’s controversial takeover of Twitter, though it’s a far cry from the $44 billion spent on the acquisition. However, if he wants to exit the deal to buy the social media platform, he will be asked to pay $1 billion, which could justify selling the shares. In any case, Musk does not seem willing to make any new sales concerning Tesla.
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