Elon Musk Buys Twitter



Image: Pixabay/Twitter

The business magnate set his eyes on the social media platform sometime ago and decided he had to have it. After several rounds of intense negotiations with skeptical shareholders and a trepid board of directors, Musk finally struck a $44-billion deal that will mint him as the new owner of the microblogging platform.

The buyout is one of the most significant events in the life of the 16-year-old company. With the departure of Jack Dorsey, co-founder and former CEO of Twitter, the platform found itself struggling to maintain its popularity and profitability in recent times. Critics of Twitter cite inadequate leadership and unilateral management decisions that infringe on the ability to openly discuss controversial subjects such as politics and other social issues as the main culprits of Twitter's troubles.

In a recent statement, Musk declared that "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." Analysts who are carefully following the acquisition speculate this could signal a radical shift in Twitter's policy that could see the reinstatement of controversial figures previously banned, such as former President Donald Trump and conspiracy theorist Alex Jones.

Elon, for his part, is now focusing on bringing more transparency to Twitter by proposing significant changes to the social standards used by the company to moderate users on the platform, as well as open-sourcing the algorithms used in the decision-making process. According to insiders, Musk's vision is far-reaching, and if successful, it will change the face of social media forever. Stay tuned.