Musk bought Twitter
I didn't create a new Twitter account. From his first tweet, I didn't feel pulled back for any reason or anything.
Someone wrote: "I’m not worried about the “rich guy who owns #Tesla
now owns @Twitter. But I am at least slightly concerned that the guy who owns @neuralink and founded @OpenAI now owns the information graph on 300+ million users."
Perhaps this will shake up social media though, which has been stagnant and widely hated (while being enjoyed) for years and years. We haven't seen any new activity, types of social media, companies, stances toward users and rights, we've just seen new more potent attention-retaining algos like Snapchat and TikTocks viral video streams.
He bought it for $44b (a value of $54.20 per share).
Analyists have said there is no downside to his investment, since the Board has done basically nothing since the 2013 IPO, and unlimited upside.
That he'll attract lots of talent to fix the problems, since everyone wants to work for Musk.
He has said that he wants the most extreme right and extreme left to both be equally unhappy on the platform. That moderates might want to come back.
People don't think Musk will want to be CEO. He has a lot of suits to chose from in his other companies, competent people who will just never become CEO where they are.
Some are saying this will be bad for the Woke movement / people.
Several social media personalities, celebs, athletes expressed they were happy because they'd been shadowbanned or wanted more free speech.
Josh Brown, who left Twitter even though he had a million followers, commented saying big celebrities who've left (Kardashians) aren't coming back. There's no way to bring them back. The bigger your account get the more the experience isn't good. Who wants to open up the app in the morning and see 50 negative things said about them? Some people will stay, people who have very thick skins or basically invite controversy.
Someone tweeted, and Bezos resplied to it, that China may have gained leverage over public discussion, since it can withhold something Tesla needs unless Musk does what it wants on Twitter.
Some have said Don't fool yourself he did it because he sees sure financial gain. This seems unlikely to me. But also reasonable. Some have talked recently about what will happen when Republicans retake the US government. It might happen in 2 years, or in 6, but sometime it will happen. After Biden was elected and Trump was still in office, most BigTech social media, including Twitter, banned President Trump and other Republicans. What do you think will happen to those companies when a Republican is in office again? The actions taken against SM will be at least in name taken for 'freedom of speech.'
Musk may expect this will happen in 2 years, given the unpopularity of Biden. Also, this year is midterms (in November), when all the House faces reelections for their 2-year terms, and lots of the senators. The uncertainty of a midterm year traditionally has a downward effect on markets.
Stock went up 6%. Price per share now is $52.87.
His first tweet after buying it, and a Bezos tweet a little later.