Impakter
  • News
    • Culture
      • Art
      • Cinema
      • Entertainment
      • Literature
      • Music
      • Photography
    • Style
      • Architecture
      • Design
      • Fashion
      • Foodscape
      • Lifestyle
    • Society
      • Business
      • Foreign Affairs & Politics
      • Health
      • Tech
      • Science
      • Start-up
    • Impact
      • Eco Life
      • Circular Economy
      • COP26
      • CityLife
        • Copenhagen
        • San Francisco
        • Seattle
        • Sydney
      • Sustainability Series
        • SDGs Series
        • Shape Your Future
        • 2030: Dream or Reality
      • Philanthropy
        • United Nations
        • NGO & Charities
        • Essays
  • Environment
  • Sustainability Index
  • Partners
  • About
    • Team
      • Global Leaders
      • Contributors
      • Write for Impakter
        • Republishing Content
        • Permissions and Copyright
        • Privacy Policy
    • Contact
No Result
View All Result
  • News
    • Culture
      • Art
      • Cinema
      • Entertainment
      • Literature
      • Music
      • Photography
    • Style
      • Architecture
      • Design
      • Fashion
      • Foodscape
      • Lifestyle
    • Society
      • Business
      • Foreign Affairs & Politics
      • Health
      • Tech
      • Science
      • Start-up
    • Impact
      • Eco Life
      • Circular Economy
      • COP26
      • CityLife
        • Copenhagen
        • San Francisco
        • Seattle
        • Sydney
      • Sustainability Series
        • SDGs Series
        • Shape Your Future
        • 2030: Dream or Reality
      • Philanthropy
        • United Nations
        • NGO & Charities
        • Essays
  • Environment
  • Sustainability Index
  • Partners
  • About
    • Team
      • Global Leaders
      • Contributors
      • Write for Impakter
        • Republishing Content
        • Permissions and Copyright
        • Privacy Policy
    • Contact
No Result
View All Result
Impakter
No Result
View All Result
Home Society Business

Twitter in Elon Musk’s Hands: What It Means

The board of Twitter has agreed to a $44bn takeover offer from Elon Musk

byAmber van Unen
April 27, 2022
in Business, Editor's Pick, Society
Share on FacebookShare on Twitter

Mr Musk, who made the bid less than two weeks ago, said Twitter had “tremendous potential” that he would unlock. He also called for a series of changes from relaxing its content restrictions to eradicating fake accounts.

“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,” Mr Musk said in a statement announcing the deal.

“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 spam bots, and authenticating all humans,” he added. “Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”

Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing of the proposed transaction.

“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders,” said Bret Taylor, Twitter’s Independent Board Chair,

Parag Agrawal, Twitter’s CEO, said, “Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.”

Twitter faces growing pressure from politicians and regulators over the content that appears on its platform. It has drawn criticism from left and right over its efforts to mediate misinformation on the platform.

In one of its most high-profile moves, last year it banned former US President Donald Trump, perhaps its most powerful user, citing the risk of “incitement of violence.”

But, Donald Trump said on Monday that he will not return to Twitter, even if his account is reinstated following the platform’s purchase by Musk.

Musk’s chequered history on the platform
Mr Musk, who has more than 80 million followers on Twitter, has a dubious history on the platform itself. 

In 2018, US financial regulators accused him of misleading Tesla investors with his tweets, claims that were resolved in a $40 million settlement and that Mr Musk continues to deny.

And, the National Labor Relations Board ordered Tesla to make Elon Musk delete a tweet written in 2018, that was seen as threatening to labor organizers within the company; Musk sought to discourage unionisation at Tesla. Around the same time, Tesla fired Richard Ortiz, a Tesla employee who was advocating for a union.

In 2019, he was hit with a defamation suit – which he successfully defeated – after calling a diver involved in rescuing schoolboys in Thailand “pedo guy” on the platform.

On Monday, Mr Musk, who has been known to clash with journalists and block critics, suggested that he saw Twitter as a forum for debate. 

However, a free press is at the centre of any society that values free speech. “I hope that even my worst critics remain on Twitter, because that is what free speech means,” he tweeted hours before the deal was announced. 

The future of Twitter

Twitter, founded in 2004, struggled to make money for many years and only began to turn a profit in 2017, ending 2021 with $5bn in revenue and 217 million daily users globally – a fraction of the figures claimed by other platforms such as Facebook.

Mr Musk has suggested that the takeover of Twitter will give him freedom to make the changes he wants to the platform. 

Among other ideas, he has suggested allowing longer posts and introducing the ability to edit tweets after they have been published. And, the algorithm, or the piece of code that determines the priority in which tweets get served up to users, will become “open source” or available for the public to view and improve upon. Musk said this will help prevent “behind the scenes manipulation” such as fuelling massive foreign propaganda. Lastly, Musk said a top priority would be eliminating “the spam and scam bots and the bot armies that are on Twitter.”

But, human rights groups have raised concerns that a lack of moderation could lead to a rise in hate speech. In a Twitter thread, Amnesty International said: “The last thing we need is a Twitter that wilfully turns a blind eye to violent and abusive speech against users, particularly those most disproportionately impacted, including women, non-binary persons, and others.”

Musk’s statements about protecting free speech, for now, are solely promises. And those promises are complicated by his historical hostility toward speech he perceives as damaging toward his economic interests. By taking Twitter private, Musk will have a great amount of power to make decisions about the future of the platform. 

How well Musk will use this power remains to be seen. Will he follow the example of another famous Silicon Valley billionaire, Amazon’s Bezos when he took over ownership of the Washington Post, essentially leaving the editorial board untouched and the paper as free to publish as it had been before? Perhaps not, only time will tell.


Editor’s Note: The opinions expressed here by Impakter.com columnists are their own, not those of Impakter.com — In the Featured Photo: Elon Musk speaking at The Summit 2013. Featured Photo Credit: Flickr.com

Tags: Amnesty InternationalElon MuskSocial mediaTeslaTwitter
Previous Post

4 Eco Friendly Tote Bags For The Green Fashionista

Next Post

Mobility Lab 2022: Looking For Startups And Innovations In The Mobility Sector

Amber van Unen

Amber van Unen

Amber is from the Netherlands and is currently based in Milan, Italy. She has recently graduated from the University of Amsterdam in Sociology, Political Science and Journalism, and has a great ambition for writing, interviewing, and researching. While finalizing her studies, she worked at the Afghan Embassy in London as a public affairs intern. She is focused on raising public awareness of urgent social matters in society. Besides that, she occasionally works as a fashion model.

Related Posts

A densely packed urban area in Athens, Greece at sunset
Climate Change

Do We Need to Sacrifice Our 1.5 °C Goal to End Poverty?

February 6, 2023
Biohacking: The Latest Health Craze, Health Hazard or Biowarfare?
Culture

Biohacking: The Latest Health Craze, Health Hazard or Biowarfare?

February 5, 2023
Our World Is Changing Ever Faster: What This Means For Our Survival
Impact

Our World Is Changing Ever Faster: What This Means For Our Survival

February 4, 2023
Next Post
Mobility Lab 2022: Looking For Startups And Innovations In The Mobility Sector

Mobility Lab 2022: Looking For Startups And Innovations In The Mobility Sector

Recent News

Clean Energy More Cost-Effective in the US Than Coal, Study Finds

Clean Energy More Cost-Effective in the US Than Coal, Study Finds

February 6, 2023
A densely packed urban area in Athens, Greece at sunset

Do We Need to Sacrifice Our 1.5 °C Goal to End Poverty?

February 6, 2023
Biohacking: The Latest Health Craze, Health Hazard or Biowarfare?

Biohacking: The Latest Health Craze, Health Hazard or Biowarfare?

February 5, 2023
impakter-logo-light

Impakter informs you through the eco news site and empowers your sustainable lifestyle with its eco products marketplace.

Visit here IMPAKTER ECO for your eco products needs.

Registered Office Address

32 Lots Road, London
SW10 0QJ, United Kingdom


IMPAKTER Limited

Company number: 10806931

Impakter is a publication that is identified by the following International Standard Serial Number (ISSN) is the following 2515-9569 (Printed) and 2515-9577 (online – Website).


Office Hours - Monday to Friday

9.30am - 5.00pm CEST


Email

stories [at] impakter.com

About Us

  • Team
  • Contributors
  • Privacy Policy
  • Contact
  • Partners

By Audience

  • Lifestyle
  • Green Finance
  • Culture
  • Society
  • Style
  • Impact

Impakter Platforms

  • Media
  • Index

© 2023 IMPAKTER. All rights reserved.

No Result
View All Result
  • ECO Products Shop – Try now!
  • Culture
  • Style
  • Society
  • Impact
  • Sustainability Index
  • About
    • Partners
    • Team
    • Contact
    • Privacy Policy

© 2023 IMPAKTER. All rights reserved.

Impakter.com uses cookies to enhance your experience when visiting the website and to serve you with advertisements that might interest you. By continuing to use this site, you agree to our use of cookies. Visit our Privacy and Cookie Policy.