Elon Musk's Takeover of Twitter

Elon Musk successfully acquired Twitter, but a lot has changed since then. Among these are the dismissal of thousands of workers, the dismissal of engineers for voicing criticism of him, and the faking of an authentic Eli Lilly profile that led to a decline in stock price for the pharmaceutical business.
Elon Musk's Takeover of Twitter
Elon Musk's Takeover of Twitter

Everything here is related to Musk's goal to seize control of the social networking site he originally announced last spring. Elon Musk, CEO of SpaceX and Tesla, has finished spending $44 billion to acquire Twitter. In April of 2022, Musk made an initial offer to purchase Twitter. Since then, other setbacks have been, including cancelled deals, legal disputes, false charges, questions about authenticity, and more.

It's not always easy to remember all that's transpired thus far. This timeline was made to assist you in staying abreast of the recent developments at Twitter and the acts of Elon Musk. The complete sequence of events is presented in the following or below slideshow.

Twitter Becoming a Free Speech for All

Musk has defined himself as an "absolute free-speech" advocate. Early this year, when ex-president Donald Trump was blocked from the site, he wrote, "A lot of individuals are going to be incredibly unhappy with Western Coast high-tech as the illegitimate arbiter of free expression." And in April, he added, "I hope that indeed my fiercest opponents remain on Twitter since this is what free expression entails." Thus, in the spirit of free speech, we may see blanket restrictions lifted on numerous accounts, such as those propagating disinformation and extremist ideas. However, doing so would contradict Twitter's efforts to eliminate abusive behavior.

Musk must distinguish between the two, as Twitter's primary revenue source, advertisers, could be turned off. Companies may not want their sponsored tweets to appear next to anything considered offensive. He has backed down on some of his requests for freedom of speech on the networking site, and Twitter has confirmed it will only host anything that is within the law. Musk has claimed he will establish a content moderation group at Twitter composed of varied political perspectives without judging whether or not to reinstate Donald Trump.

The Need to Pay a Subscription Fee

Last year, Twitter introduced its first premium plan, Twitter Blue, which grants users access to additional services in exchange for a monthly fee of $4.99. Although previously stated that his participation in Twitter was "not a method to earn money," Musk has shown his support for such a model, but he wants it to be cheaper.

He has stated his intention to lower advertising's share of Twitter's earnings to below 50%. To protect Twitter's finances, he will still need to develop a convincing plan for memberships and advertising structures.

Inclusion of an Edit Button

There have been repeated calls for an edit feature. Innocuous errors may be fixed, but they might significantly change how people talk to one another in public. When Musk surveyed his 4.4 million subscribers on whether or not they needed Twitter to include an Edit button, 73% favoured having one created.

In response to Musk's survey, one user suggested that users be permitted to change their tweets for a short time before the original post was made public. "Reasonable" is how Musk described the offer. Spreading the edit button to American Twitter users has already started.

The Fake Accounts

Musk has stated that spam bots are the "single most frustrating issue on Twitter" due to their constant flooding of users' feeds. His proposed approach involves verifying the identities of "all genuine persons" through photographs, electronic messages, and telephone numbers. Regarding identifying bogus accounts, Twitter already has procedures in place. It's getting harder to tell bogus from authentic Twitter accounts, which is especially problematic when it comes to crypto-related tweets because misinformation and attempts at scamming are rife.

Musk will be up against some serious challenges. Musk has hinted that the famous video-sharing app Vine, comparable to TikTok, may return. Users of the video-sharing service Vine could upload clips of up to six seconds in length, most of which were humorous. Although it had boasted 200 million subscribers, Twitter decided to shut it down in 2016. Now Musk is thinking about restoring it. He put up a poll to see if anyone was interested in seeing the app come back, and he also asked users for suggestions on how to improve it so that it would compete with TikTok.

How We Got Here

As of April, Elon Musk had committed to purchasing Twitter for $44 billion. Subsequently, he attempted to back out of the agreement by claiming, amongst many other issues, that Twitter had exaggerated the extent to which spammers and bogus accounts plagued its service. Twitter, of course, strongly refuted this claim. Over the summertime, Twitter filed a lawsuit against him, and he immediately filed a countersuit.

The tycoon made a surprise offer to finish his purchase at the original purchase price earlier, just two weeks before an increased, nonjury hearing was supposed to begin over the halted sale. After hearing that the banks backing the acquisition were getting ready to complete the purchase, the Delaware magistrate presiding well over conflict granted Mr. Musk's plea to postpone the hearing.

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