Key Takeaways:
- Elon Musk is planning to bring four major changes to Twitter.
- He is hoping to acquire the social media platform.
The social media platform, Twitter, which has been in existence for over a decade, has now caught the attention of the Tesla founder, Elon Musk, who is also the largest shareholder of Twitter with a 9.2% stake. Long back, Musk expressed that he did not appreciate Twitter’s policy as it restricts the freedom of speech of the audience. He then decided to join the media platform as a board member but later revoked his decision.
However, on Thursday, Musk said he would like to acquire Twitter for $54.20 per share, valuing the platform at almost $43 billion. He is willing to change how the social media platform functions and a few policies if his offer is accepted. He said, “Twitter has extraordinary potential. I will unlock it”, in a letter to the chairman of Twitter, Bret Taylor.
The first among the four significant changes that Musk is pushing for on Twitter includes the moderation of the content that involves ensuring the free speech of the audience. He also arranged for a poll asking for opinions and said, ” Free speech is essential to a functioning democracy.”
The second issue concerns him is cryptocurrency scams that frequently happen on the website. It had also impacted him earlier when a few accounts impersonated Musk and tried to scam people of their digital assets. He then shared, “Twitter is spending engineering resources on this bs while crypto scammers are throwing a spambot block party in every thread!?.”
Among the other two remaining changes, the one includes the users reiterating the need for an edit button to make changes in the post after sharing. Twitter did include this in its Twitter Blue initiative, where it allowed users with the $3 per month subscription plan to edit their tweets.
Musk also has plans to change the algorithm of Twitter to open-source as it is free of cost and can easily be customized. However, the co-founder and CEO of Twitter did not appreciate this suggestion and said that everyone should not have the right to decide on the algorithm Twitter decides to use or not.
Elon’s fight to bring changes to Twitter has been taking interesting turns since the beginning. The tech mogul is apparent in his vision. If Twitter declines his offer to buy a 100% stake in the social media platform, he said he would also reconsider his position as a shareholder.
