Tag: Freedom of Speech

What to Expect After Elon Musk Takeover Twitter

What to Expect After Elon Musk’s Twitter Takeover

In their latest performance update, Twitter gained 12 million users. But a social media agency Hong Kong highlights that the platform’s subscription revenue dropped down to $94 million. It was a 31% YOT decline. For a digital marketing speaker Hong Kong, such a number shows that Twitter needs a major revamp. Even if the platform strengthened its video ads and campaigns, a video marketing agency Hong Kong noted that there is still a lot of work to be done.

The world was shocked that in a matter of less than one month, Elon Musk acquired Twitter. First, he became the largest Twitter stakeholder by buying 9.8% of shares last 5th of April. He was even offered a board seat but did not accept it. After a week, he made an offer to buy Twitter, Inc. It was then accepted by Twitter 3 days after the offer. So, what can we expect after Elon Musk’s takeover of Twitter?

WHO IS ELON MUSK?

One of the greatest innovation entrepreneurs of the 21st century is Elon Musk. He is a co-founder of PayPal, a financial technology company in the United States. He is also a co-founder and the CEO of Tesla, a global manufacturer of electric cars. In 2002, Elon Musk is on the brim of bankruptcy when he founded Space X. But NASA founded the project with $2.9 billion. It was an advanced space exploration targeting to provide space flights. Just recently, a Space X rocket ship carried a crew of four astronauts for a 10-day mission into space.

Elon Musk is also famous for being an extremist on social media, especially on his Twitter account. He openly criticized the US government’s lockdown restrictions during the COVID-19 outbreak. His tweet “FREE AMERICA NOW” stirred conversations on the legality of lockdown as an infringement of people’s freedom. After Donald Trump was banned from Twitter last year, Elon Musk started attacking Twitter for the censorship of free speech. The attack continued until he became the largest stakeholder on the platform. Then, the big surprise happened! Elon Musk is now the owner of Twitter.

WHAT TO EXPECT AFTER ELON MUSK TAKEOVER OF TWITTER?

On the last 25th of April, Twitter accepted the richest person in the world’s offer to buy out the company for $44 billion. Twitter will then become a private company. It means that the platform will have less financial and operational transparency. Twitter’s landscape could dramatically change as Musk suggested major changes for the social media platform.

Impact on Investors and Shareholders

Once Elon Musk’s acquisition of Twitter closes, its investors and shareholders will receive an influx of cash as their individual shares will be paid $54.20 each. Investors who do not have Twitter stocks, especially on other social media companies like Meta, the parent company of Facebook, Instagram, Messenger, and WhatsApp, will experience a rippling effect. The influence and power of Elon Musk can pressure these companies to perform better as the competition level up.

Impact on Twitter Users

Expect that Twitter, being influential in public discourse, will get stronger. As an advocate of free speech, he plans to open-source Twitter’s algorithm to make it more authentic and trusted by the public. The platform may also enact a variety of changes. These include the edit button, where Twitter users can go back and change the tweet that they have already posted. It is also possible that users may need to submit extra information to be allowed on the platform.

For now, it is difficult to say what will possibly happen to Twitter. But one thing is clear! Everybody is hoping for the better as Elon Musk takeover Twitter.

Reference: https://edition.cnn.com/2022/04/26/tech/importance-of-musk-buying-twitter/index.html

Elon Musk on Twitter

What Can Elon Musk Do as Twitter’s Largest Shareholder?

Last 4th of April, Elon Musk jumped on Twitter’s board. The owner of Tesla and Space X is now Twitter’s biggest shareholder after buying shares worth nearly $3 billion. That’s equivalent to a 9.2% stake at Twitter, Inc. A social media agency Hong Kong highlights to expect big changes on the platform in the coming months. This is because Elon Musk is known as a game-changer.

For a digital marketing speaker Hong Kong, it just showed that money can be a great asset to make an impact. Before the Tesla Chief acquired Twitter shares, he was a big fanatic of social media platforms. He even polled the Twitter nation about free speech on social media. He noted the plans of launching his own social media platform after Twitter failed to adhere to free speech. So, what can Elon Musk do as Twitter’s largest stakeholder?

Pushing the Edit Button on Twitter

After his appointment as one of Twitter’s board of directors, Elon Musk polled his 80 million followers if they want the edit button for their tweets. Twitter CEO, Parag Agrawal, retweeted the poll with a note that the consequences of such a survey are important. Nearly 4 million favored having an edit button. That is around 73.5% of Musk’s followers.

It seems that Elon Musk is the key to making tweet editing a reality. After repeated buffs and years of longing, the Twitter nation can now expect speeding up by having an edit button on tweets. As one of the board of directors, he is now swaying the platform to expedite rolling out such a feature.

Twitter has noted working on the edit button even before Musk became a member of the board of directors. That was based on the statement of a new Twitter ambassador, Michael Sayman. The statement seems unclear but it is good to hear that Twitter is working on the edit option once again. With Elon Musk and Parag Agrawal’s push, it can be a saving grace to Twitter’s post-Jack Dorsey era.

Massive Move Towards Free Speech

Elon Musk is a popular advocate of free speech. That is why he polled the Twitter nation about it. After the poll, Elon thought of launching a new social media platform to promote freedom of expression. This is to fulfill his dream of no censorship or standards to adhere to. But the tides have changed. Elon Musk, instead, acquired Twitter shares.

Right after Musk bought shares on Twitter, Inc., the company’s stock shares surged by 27%. It seems clear that Twitter and Musk have agreed to boost Twitter’s sales price in exchange for a massive move toward freedom of speech. Twitter’s goal is to reach 315 million daily active users (DAU) before the end of 2023. Musk’s goal is to ease up Twitter’s censorship. In the end, will it be more beneficial if Twitter takes a step back in allowing more misinformation and curbing concerning movements and trends? That is one thing we need to wait for.

Reference:  https://www.linkedin.com/news/story/elon-musk-invests-in-twitter-4745361/

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