Stunt or strategy? Five Reasons Why Elon Musk Wants Twitter

Elon Musk is trying to buy a social network because Twitter may not be a great business, but it can buy you power and influence.

Some billionaires buy newspapers, magazines, and sports teams. Elon Musk is trying to buy a social network that he admits might cause much of the world to hate him. Elon Musk's US$43 billion offer to buy Twitter on Thursday — whether it's viable or not — shows how important and influential the company is, even when compared to its much larger rivals. There's a good reason why Musk, the wealthiest person in the world, has already spent about US$3 billion to buy the top stake in Twitter and is now spending his time and effort loudly proclaiming that he wants to entirely take over the company.

Twitter's social and political worth is more than its stock price

Twitter is, in many ways, a platform for the elite. While it can sometimes elevate the voices of ordinary people who don't command massive followings on the platform, it's most powerful as a communication tool for already prominent and influential people.

Wants Twitter to reveal its algorithms

Musk said that Twitter should reveal its algorithms and put them in public. "Twitter has become kind of the de facto town square. So it's just really important that people have both the reality and the perception that they're able to speak freely within the bounds of the law and to build this perception. Twitter should open source the algorithm. The code should be on Github so people can look through it."

Twitter's board views musk's offer as unwelcome

Behind the scenes, Twitter's board members are plotting their response to the world's richest man's takeover scheme. There's the poison pill, as well as previous provisions in the company's bylaws, that could make it extremely difficult for Musk to assume control. But that is not stopping the founder, CEO, and Chief Engineer at SpaceX; early-stage investor, CEO, and Product Architect of Tesla, Inc. from making his move.

Twitter Blue

Twitter's subscription business called Twitter Blue gives power users additional features. Musk said he would slash the price of Twitter Blue from US$3 to US$2 a month and would charge for a year subscription upfront. In return, Twitter Blue users would get a blue checkmark (and guaranteed suspension if the account is used for spam).

Power

For politicians, business leaders, celebrities, and journalists, Twitter is a key platform for amplifying their messages and controlling their own narratives. Musk's focus on Twitter, and his efforts to influence how it functions and moderates its users, underscore just how important the company is to public discourse — irrespective of how much profit it makes — and raises questions about who should be able to control a company that holds so much power. That's the reason why Elon Musk is after Twitter