Elon Musk has been on the lookout to become the one-in-all of the popular social media platform Twitter. Musk, one of the richest people in the world, just tried a Twitter takeover, which is going wrong in all possible ways. The question is why does Elon Musk wish to own Twitter? The Tesla CEO made a US$41.3 billion take it or leave it to offer to the Twitter board. His commitment to 'free speech' seemed to have fallen flat as it raised questions about his seriousness pertaining to the takeover. Elon insists that he does not intend to make money off Twitter and only intends to properly exercise the role of Twitter in society as a platform for free speech for global democracy. But Elon Musk's presence on the Twitter board can bring more risks than opportunities? Yes, maybe!
Musk is a self-proclaimed 'free speech absolutist' who wishes Twitter to open-source its algorithms. But this concept would eventually destabilize the platform's stability as a profitable domain. In fact. If he pushes Twitter to adopt a laissez-faire policy toward content moderation, trolls would run free on the platform. Open-sourcing the Twitter algorithm is also a business risk, and would eventually become a security risk. The Tesla CEO's extraordinary possession of wealth definitely allows him to make a ginormous bid against the present board of directors of Twitter. But eventually, his ideas might not be as fruitful and secure for Twitter users and its business owners.
Musk's idea to edit the Twitter policies would only end up killing Twitter, according to its board of directors. Eventually, the directors adopted a 'poison pill' against Musk's bid to own 100% shares of the company. This 'limited duration shareholder right plan' aims to make investors utilize the entire value of their investment and also restrict other entities or businesses from gaining control of the firm, as it mandates paying a premium to the shareholders.
Well, it seems like this Twitter war will only get uglier in the coming days.
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