Why would Elon Musk want to buy Twitter?

Elon Musk, one of the world's richest men, has agreed to buy the social media platform Twitter for 44 billion. They intend to privatize the platform so that they can fulfill their commitment to what they call 'freedom of expression'.

Elon Musk is the eighth most popular Twitter user, and his presentation, which Twitter said yes to on Monday, raises as many questions as it does.

They have some questions about why they want to buy it. Where is the money coming from? Will shareholders be happy with the sale? And if they succeed, what will this social media platform look like?

Why is Elon Musk interested in Twitter?

The founder of Tesla says he wants to buy Twitter because the service does not seem to be fulfilling its potential as a "freedom of expression platform".

He insists he has no interest in making money on Twitter. In a recent statement, Elon Musk said he was inspired by the realization that "the existence of a very comprehensive and credible platform is crucial for the future of civilization."

Twitter, like other social media platforms, suspends accounts for violent, hate speech or sharing harmful misinformation and violating content standards.

An example of this was the suspension of former US President Donald Trump's Twitter account, which angered his followers.

Elon Musk has called himself an "absolute freedom of expression", but has blocked Twitter users who question or disagree with him.

 Regulators have also accused their car company, Tesla, of retaliating against black workers who spoke out against discrimination.

Where will Elon Musk get that much money?

Elon Musk may be the richest man in the world, but most of his wealth is in Tesla's stock (of which he owns 17%) and private space firm SpaceX.

He claims to have major crypto holdings, mostly bitcoins, Ethereum (ETH) and some doggy coins, but also says he will not sell his cryptocurrency and for the future. Intend to handle.

In an interview at the TED 2022 conference this month, Elon Musk said he had "substantial assets" for the deal, adding that "if possible I can do it."

A securities filing last week revealed that they had raised 22 22 billion from Morgan Stanley Senior Funding to finance the bid and would pay off the rest by selling equity.

Will Twitter shareholders be happy with the sale?

Twitter stock prices rose in pre-market trading on Monday morning in anticipation of a successful bid. The share price has been above 70 70 in the last 12 months and reached 80 80.75 in February 2021, although much lower than the price set by Elon Musk.

Following the departure of Twitter co-founder Jack Dorsey in November, a change of chief executive resulted in Parag Agarwal becoming CEO, whose initial steps include internal restructuring.

No major changes have been made to Twitter. Despite the presence of high profile celebrities, politicians, a large number of journalists and their huge influence, the platform has fewer users than its competitors Facebook and Tik Tak.

Elon Musk himself is a huge customer, with over 81 million followers.

Jack Dorsey, who is still a major shareholder, gave no indication of what he thought of Elon Musk's offer. Jack, who has a 2% stake, expects the deal to raise more than 800 million.

What can Elon Musk change on Twitter?

Saying that Twitter is not living up to its potential as a 'platform for freedom of expression' suggests that Elon Musk will change the standards for content posted.

Doing so could lead to a return to Twitter for those who were previously banned. It is possible that former US President Donald Trump's account will be restored, but Donald Trump has so far denied any such return.

"I'm not going to Twitter," said former US President Donald Trump in an interview with Fox News.

"I would love to be on Truth Social," he said. He spoke in support of the US Alliance, but said that maintaining some independence was not the answer.

Truth Social Donald Trump has his own social media plan.

Elon Musk will also crack down on corrupt spam bots, which have made the platform difficult in recent years. This has reduced the number of service ads and makes money from Twitter ads.

In addition, the option of editing the tweet and following in terms of topics is also being considered so that you can see the topics and not follow people.

Why are some people worried about buying Elon Musk's Twitter?

Social media companies strive to control misinformation and hate speech.

Elon Musk, whose tweets can harass online critics online, doesn't seem willing to set content standards.

Rachel Foster Jones, a global data analyst, said: "If the Elon Musk deal is successful, regulators around the world will look at the potential implications of freedom of expression."

He added: "Elon Musk is clearly serious about promoting freedom of expression for the benefit of democracy, but the distinction between freedom of expression and hate speech or misinformation is blurring and the need to change Twitter. With effort, these problems can easily get out of hand.

In a conversation with Anderson, Elon Musk said: "Twitter is bound by the laws of the country in which it operates, so obviously there are some restrictions on freedom of expression in the United States and of course Twitter has to abide by those rules. '

"But the mysterious promotion and demoting of tweets and the existence of a 'black box algorithm' is 'quite dangerous,'" he said.

US Secrets

In response to the news of Twitter's acquisition, White House US President Joe Biden has expressed concern over the power of social media platforms.

According to the AFP news agency, the value of Twitter shares in the stock market closed up 5.6% on this occasion.

However, US officials have reiterated their long-held concerns.

During a routine press conference, White House Press Secretary Jane Sackie said when asked about the Twitter transaction, "I will not comment on any specific transaction."

"Regardless of who owns or runs Twitter, the president has long had reservations about major social media platforms," ​​he said.

Jane Sackie goes on to say, "They (social media platforms) have the authority over our lives to argue that they must be held accountable when they cause harm." He (President Biden) is in favor of fundamental reforms to achieve this goal.

Asked about his concerns, Jane Sackie said: "Our concerns are not new. We and the President have talked many times about the power of social media platforms.

Explaining the concerns, he said: "Like spreading false information. Spreading false information with the intention of harming and the need to hold these platforms accountable.

"I have no comment on this particular transaction," said Jane Sackie. At the moment, we have no idea what the policies will be like.

Twitter was a loudspeaker for former US President Donald Trump, but was later banned by Twitter. Donald Trump had questioned the transparency of the US election and allegedly incited his supporters to violence, after which he entered other government buildings, including the US Congress.

Elon Musk is a believer in freedom of speech and has said he wants to change the overly dynamic control over Twitter content.

"Freedom of speech is the foundation of a functioning democracy and Twitter is a digital intersection where important issues concerning the future of humanity are discussed," Elon Musk said in a statement released by Twitter.

"I want to make Twitter better than ever by adding more features, including publicizing the algorithm to increase credibility, eliminate fake accounts and authenticate all human beings," he said.

However, advocacy groups have reservations about what kind of content Elon Musk will allow on Twitter.

Derek Johnson, president of the NAACP, a civil rights group, said in a tweet: The protection of our democracy is paramount.

Elon Musk bought a 9% stake in Twitter in early April but later offered to buy the entire company with a mission to protect freedom of speech.

Note: This report was prepared with the help of The Independent and AFP.