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Everything you wanted to know about Elon Musk and Twitter (but didn’t want to ask) | #1 Technology News Source by Kalen2utech
Published On: Wed, May 25th, 2022

Everything we wanted to know about Elon Musk and Twitter (but didn’t wish to ask)

So we want to know what’s going on with Elon Musk and Twitter, nonetheless we suspicion maybe it’s a small too late to ask your tech-obsessed buddies for a lowdown. You’ve come to a right place.

Last month, in maybe a year’s biggest tech news story yet, Elon Musk announced his vigilant to buy Twitter for $44 billion. But like all that a Tesla and SpaceX exec touches, it incited to chaos. Now, a attribute between Elon Musk and Twitter has turn a biggest “will they or won’t they” of a time ( … OK, maybe some-more like this month).

Without serve happening … Let’s start during a basics.

Who is Elon Musk? The electric automobile guy?

I know I’ve listened this guy’s name a lot, nonetheless … who is he exactly?

You honeyed summer child. Elon Musk is a South African-born businessman best famous for portion as CEO of Tesla (electric automobile company), SpaceX (let’s go to Mars?) and The Boring Company (something to do with tunnels, idk, don’t worry about it). Early in his career, he founded X.com, a startup that was acquired by a association that became PayPal. He is also a richest male in a world.

Oh right, he’s a one who had children with Grimes, and they named their kids uncanny things! Is Grimes OK? “Visions” is a good album.

Yes, Elon Musk antiquated a Canadian electronic musician Grimes for several years, and they had dual children named X Æ A-Xii and Exa Dark Sideræl. They are no longer dating.

It seems like Elon Musk is a flattering argumentative figure. Is it usually given he’s super rich?

That’s partial of it. But as TechCrunch’s Taylor Hatmaker wrote, he “generally conducts himself like a chairman who doesn’t give a unaccompanied shit about a literally unintelligible energy differential between himself and fundamentally any other chairman on a planet.” He has peddled vaccine doubt to his 92.8 million Twitter supporters and pronounced that panic around COVID-19 was “dumb,” his companies have been customarily cited for kinship busting, bad operative conditions, coverups of workman injuries and extremist treatment, and he mostly uses his comment to make racist, transphobic jokes. He also allegedly paid an worker $250,000 to pointer an NDA to keep her still after he intimately tormented her. Overall, he’s flattering insufferable.

If Elon Musk gets his way, Twitter will remove years of progress

Why does Elon Musk wish to buy Twitter?

He’s already a CEO of so many companies, and he has some-more income than anyone else in a universe — given buy Twitter?

At first, Musk flirted with a suspicion of starting his possess amicable media platform. we bewail my past title choices, nonetheless I’ll admit, we didn’t consider he would indeed offer Twitter $44 billion to buy their height instead of building one from scratch. Oh, how genuine we was.

Before he done a offer, he bought a 9.2% seductiveness in a company, was offering a house seat, declined a house chair … a lot of foolish shenanigans.

Musk calls a amicable media association a “town square” of a internet, nonetheless he doesn’t like how it’s run.

Elon, we have no suspicion what a ruin you’re articulate about

“Free debate is a bedrock of a functioning democracy, and Twitter is a digital city block where matters critical to a destiny of amiability are debated,” Musk said. He has announced that his clarification of “free speech” is “simply that that matches a law.” This is identical to a proceed taken by border amicable networks like Parler and Truth Social, Trump’s new platform. He announced that if people wish a law to be different, they can simply usually get a supervision to change it, a shockingly foolish matter from someone who doesn’t know how tough it is to pass legislation, or usually … generally how a universe works.

But Twitter’s existent height discipline aren’t that stringent. Beyond prohibiting bootleg activity, a height bans horrible control (attacking or melancholy people formed on race, ethnicity, gender, passionate orientation, religion, disability, etc.), depictions of striking violence, graduation of self-murder or self-harm, etc. The height doesn’t even bury racy content, so prolonged as it doesn’t seem in a live video or a form header.

By a way, isn’t a Saudi Arabian prince’s emperor resources comment assisting financial a Twitter deal? Saudi Arabia enforces critical restrictions on debate and a media, so doesn’t that seem weird? we suspicion Musk was unequivocally into giveaway speech.

Yeah.

So given does Elon Musk consider that Twitter is censoring people, anyway?

Elon Musk gets divided with tweeting things like … comparing Justin Trudeau to Adolf Hitler, comparing Twitter CEO Parag Agrawal to Joseph Stalin, observant that gender pronouns “suck” … Yet he’s still endangered that giveaway debate isn’t probable on a height (or is he usually endangered that people reason him accountable when he says descent shit?).

Shortly before Musk vocalized his seductiveness in shopping a amicable media company, a regressive joke site a Babylon Bee was dangling from a height for creation a hateful, transphobic post about a open official. According to Babylon Bee CEO Seth Dillon, who is also a executive during Parler, Musk told him that he “might need to buy Twitter” to strengthen giveaway speech.

How does a SEC figure into all of this?

The SEC keeps an eye on what a business noble says on his account. The SEC tries to keep batch trade as satisfactory as probable — that’s given things like insider trade are illegal, AKA, when someone creates investment decisions formed on information about a association that isn’t public.

In 2018, Musk tweeted that he had “funding secured” to take Tesla private during $420 a share (yes, that series is intentional), that of course, impacted a company’s stock. In reality, a intensity buyout wasn’t tighten to going by (to this day, Tesla is still a open company). So, both Musk and Tesla had to compensate a $20 million penalty, and Musk stepped down from a board.

Anyway, Elon Musk has now had a “Twitter sitter” for about 4 years, as partial of his 2018 understanding with a SEC. Honestly, it’s flattering humorous that he has a “Twitter sitter.” But it’s not humorous that he can impact a batch marketplace (and thus, genuine people’s finances) by tweeting whatever crosses his mind. Even if he has to be clever when tweeting about Tesla, that doesn’t meant that his posts don’t still impact a market.

Musk is also now being probed by a SEC given when he initial purchased a 9.2% seductiveness in Twitter, he unsuccessful to record a form that is compulsory when purchasing over 5% of a company’s shares. Though a open schooled of this news on Apr 4, Musk indeed surpassed 5% tenure on Mar 14, and per SEC rules, he should’ve disclosed that within 10 days (he didn’t). Daniel Taylor, a University of Pennsylvania accounting professor, told a Wall Street Journal that this disaster to divulge his squeeze expected saved Musk some-more than $143 million.

It’s not rocket science: Why Elon Musk’s Twitter takeover could be bad for privacy

What other skeleton does he have for Twitter?

At a TED eventuality a day he announced his $44 billion bid, Musk pronounced he wants to make Twitter’s algorithm and formula open source. That means that anyone would be means to entrance a publicly accessible formula that powers a height and iterate on it.

Several U.S. legislators have called for larger transparency around amicable media algorithms, generally in a arise of former Facebook employee Frances Haugen’s request leaks, that uncover that Facebook favors calm that’s more expected to stimulate anger. But, like many things in life, there’s some-more shade there. While larger clarity competence give users some-more group over what calm they’re served, there are also confidence issues that open sourcing Twitter’s formula and algorithm competence pose. More on that from one of a good confidence reporters, Carly Page, here.

At a same event, Musk stated: “The tip priority we would have is expelling a spam and fraud bots and a bot armies that are on Twitter. They’re creation a product most worse. If we had a dogecoin for any crypto fraud … .”

To fight bot spam, he due “authenticating all humans.” While these strategies can assistance lessen spam, they can also make it some-more formidable for marginalized people to pronounce out. As a Electronic Frontier Foundation wrote in a blog post, “Pseudonymity and anonymity are essential to safeguarding users who might have opinions, identities or interests that do not align with those in power. For example, policies that need genuine names on Facebook have been used to pull out Native Americans; people regulating normal Irish, Indonesian and Scottish names; Catholic clergy; transgender people; drag queens; and sex workers. Political dissidents may be in grave risk if those in energy are means to learn their loyal identities.”

Still, bots have been Musk’s mountain to die on. More on that in a subsequent section.

Is Elon Musk really shopping Twitter though? Like, really really?

I listened that a understanding is on reason given of bots. What does that mean?

Perhaps a intrepid protagonist has finally satisfied that spending $44 billion on a amicable height is some-more difficulty than it’s worth. He’s been unequivocally endangered about bots on a height for a while, as evidenced by his anticipation of verifying all humans on Twitter (it’s as if he doesn’t follow any unequivocally good bots).

The association itself estimates that bots make adult reduction than 5% of accounts on a site, nonetheless “lame duck” CEO Parag Agrawal pronounced that he doesn’t consider this calculation could be accurate externally, given it requires use of private association data. Musk replied with a poop emoji.

He followed adult his pixelated fecal matter with a doubt for Agrawal (can’t they usually calm any other?): “So how do advertisers know what they’re removing for their money? This is elemental to a financial health of Twitter.” Apparently, advertisers aren’t as endangered as Musk is. For years, a association has hedged in a gain reports that a series of feign accounts might be aloft than their information shows, that isn’t that outlandish a disclosure. Wouldn’t Musk have indeed review a shareholder minute before shopping a whole company?

Musk has pronounced that a understanding is “on hold” over spam, nonetheless he apparently stays committed to a acquisition. Still, this matter caused Twitter batch to dump by 25%. Twitter’s tip counsel and conduct of process Vijaya Gadde told staff during an all-hands meeting, according to Bloomberg, that there is “no such thing as a understanding being on hold.” He has a contractual requirement to go by with a understanding — he can’t just not do it unless he has a unequivocally good reason, and according to his contract, carrying some-more than 5% of users as bots is not a good adequate reason. Speaking of which…

So is he usually perplexing to get out of a deal? Is that even possible?

I mean, technically he can get out of a deal. It seems unlikely, nonetheless Musk is a disharmony demon, so anything is possible. In any case, it takes a while for these deals to close, so we unequivocally have until Sep or Oct to make popcorn see what goes down.

According to an SEC filing, Twitter could (in layman’s terms) behind out of a understanding if they get a improved offer, or if a house votes opposite a deal. At first, it seemed like a house was opposite to a idea, as they adopted a “poison pill” invulnerability to make it some-more formidable for Musk to buy a company. But a shareholders seem to still preference a deal.

On Musk’s end, he would violate a SEC agreement if he tweets disparagingly about a association or a representatives. Does promulgation a poop emoji to Parag count? It doesn’t seem like Twitter wants to get out of a understanding as most as Musk (maybe) does, though, so he can radically twitter whatever he wants (as prolonged as it’s not element information about Tesla — remember his Twitter sitter?)

There’s also a $1 billion stop cost if a understanding doesn’t go through, nonetheless that’s chump change to this dude.

But is it really about a bots?

Oh, to know a middle machinations of Elon Musk’s mind. Personally, I’d contend he’s full of shit and is regulating bots as an forgive to behind out of a understanding — remember how when this all started, he wanted to buy a association given he knew bots were a problem, and he wanted to repair it? He mostly contradicts himself like this, and it’s not given he’s stupid. He’s being strategic, regulating his open persona to stir a pot and means drama. One probability is that he knows that his behind is adult opposite a wall when it comes to removing out of this deal, so he’s fundamentally usually being as large an asshole as probable to piss Twitter off and get them to dump a ball.

It also might not be a fluke that Musk is removing cold feet during a time of macroeconomic shake — opposite a tech industry, companies are entertainment layoffs left and right, batch prices are dropping and amicable media competitors like Meta and Snap are slicing costs.

I asked Alex Wilhelm, a proprietor guy-who-understands-stocks (and editor-in-chief of TechCrunch+), to explain this to me.

He said:

Musk offering to buy Twitter in early April, pulling a value of a association from usually underneath $40 per share to some-more than $50. While underneath a new record highs set in 2021, a cost that Musk concluded to compensate for Twitter was a gentle reward over a then-trading price. Why is a cost indicate argumentative now, given that it was above new lows and next new highs? Because a Nasdaq 100 has mislaid around 3,000 points given a start of April, definition that Musk’s understanding was labelled during a time when a value of tech bonds was aloft than it is today. That fact alone could be pulling Musk to try to reprice a understanding through, variously, bullying, tweets and bullying tweets.

Is shopping Twitter indeed a good investment anyway?

Maybe? Maybe not? Musk has pronounced that he “doesn’t caring about a economics” of a deal, that is an objectively absurd thing to contend about a multibillion dollar purchase. we feel bad when we buy a jug of almond divert for $5 from CVS when we know it’s like $2 during Aldi, nonetheless Aldi is so most over of a travel — we digress.

The New York Times performed Musk’s investment presentation, surveying his skeleton for a company. He wants to cut a faith on promotion to reduction than 50%, nonetheless he also wants to quintuple income to $26.4 billion by 2028. In 2020, 90% of a platform’s sum income came from advertising. I’m no business mogul, nonetheless that seems like a tough guarantee to keep.

Alright, we got a basics. But we still have some questions.

There’s a lot we still don’t know about a Elon Musk-Twitter understanding — but, we can use what information we have to put some of a pieces together.

What advantage is there to Twitter going private?

When companies go open (meaning, normal people can buy batch in them), they have to answer to their shareholders, who can collectively control a cost of a company’s stock. So if Twitter did something that shareholders consider is stupid, a batch might dump to simulate that attitude. And a association wants their batch to be high, because, we know, stonks.

Musk famously does not get along with a SEC, that regulates publicly traded companies. So if Twitter were private, Musk could twitter unhinged shit about his purpose as a owners of a height though worrying about being slapped with some-more regulations.

Former CEO and co-founder of Twitter, Jack Dorsey allegedly told Musk that he believes a height could advantage from going private — that way, a height could have some respirating room to get a act together though a vigour of open stakeholders. Dorsey even tweeted that he believes Musk is a “singular solution” he trusts to work a association he co-founded.

Or he could take it private usually to take it open again. we don’t know. Stonks.

What’s singular about Twitter’s board, and how does that impact a deal?

Twitter’s house doesn’t possess that most batch in a company. Founder and former CEO Jack Dorsey, who is slated to skip a board, is a largest shareholder with usually about 2% of a company. Compared to Facebook, owners Mark Zuckerberg owns around 13% of a association and sits on a board. So, Musk has commented that a house is reduction aligned with shareholders than other companies.

Remember that Musk does already possess 9.2% of Twitter after his squeeze a few months ago. So he’s already a company’s largest shareholder, nonetheless he’s not on a house yet, given he declined a house chair in sequence to usually buy a association instead. If he had taken a house seat, his agreement would have stipulated that he not surpass 14.9% ownership. In other words, if he assimilated a board, he wouldn’t have been authorised to buy a association outright, as he’s perplexing to do now.

Why is this understanding so out of a typical in a larger context of a tech sphere?

Elon is a richest male in a world, after all, so if this understanding closes, it would be one of a biggest unaccompanied purchases of a tech association by an particular chairman ever. Or maybe one of a biggest purchases ever, period? For comparison, this year Microsoft announced a vigilant to buy Activision Blizzard for $69 billion, that was deliberate a huge understanding — and that’s, we know, Microsoft. As opposite to usually this one guy.

This understanding also gets so most courtesy given it’s amicable media — some-more people use Twitter, caring about it and know a informative impact than a reduction consumer-facing company. If Musk gets his way, his calm mediation ideas (or miss thereof) could indeed impact us in a discernible way, and we schooled a tough proceed that Twitter can indeed change tellurian politics. Just demeanour during how feeble platforms responded to a mass sharpened this past week — we consider that’s going to get improved underneath an owners who doesn’t trust in permanent bans or most mediation during all?

Also, we caring given it’s usually so ridiculous. A poop emoji? Really?

A finish timeline of a Elon Musk-Twitter saga

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