Elon Musk finally finalized the purchase of Twitter for 44,000 million dollars, it ends like this a process of mutual accusations and demands and for downloading the social network and for doing nothing.
As reported CNBC and ReutersMusk is now in charge of the platform and one of his first actions was ousted Twitter’s last CEO, Parag Agrawaland Chief Financial Officer Ned Segal, as well as Chief Legal, Trust and Security Policy Vijay Gadda.
Recall that Musk had until Friday, October 28 to finalize the acquisition. before having to face a court battle force him to take over the company, which is not going to happen now.
The conflict that has been going on for months over the takeover of the social network
In April, Twitter accepted the proposal to purchase the owner of Tesla, but soon they began to present arguments that there are more bots and spam on the platform than reported and I wouldn’t be able to make an acquisition like thatuntil the moment the process is suspended.
As a justification, Musk announced that he was stopping the process of buying derivatives that Twitter he refused to fulfill his obligationsexcept that the agreement no longer served their interests.
Image: Steve Jurvetson
For months, both Musk and Twitter have traded statements, leading to a trial to be held in the Delaware Court of Chancery to see who is right and regardless of whether it is to be acquired by force.
But the tycoon suddenly changed his mind in October, announcing that he would continue the purchase process, respecting the original price of the shares, $54.20 eachthe same value that criticized and proposed to pay less came from bots.
In recent days, it has been revealed that Musk will lay off 75% of the workforce, something employees described as “menacing and somewhat reckless“, but the tycoon finally announced that he would not.
Elon Musk arrives at Twitter’s offices before the acquisition
Before announcing the purchase, Musk revealed his reasons for the purchase, saying it was important “for the future of civilization” to have a digital public square to discuss. He also mentioned that the platform should be avoided became a page with the tendency of some political positionbut at the same time, make it a useful place for advertisers.
What are Elon Musk’s plans after buying Twitter?
After the initial announcement of the purchase, Musk announced his intentions with the platform: to make it an open source social network, where anyone could see an algorithm to understand why their posts were demoted or promoted, without thinking that the content has been manipulated.
The Twitter algorithm should be open source
— Elon Musk (@elonmusk) March 24, 2022
Another topic he emphasized was stopping cryptocurrency fraud, where attackers could get millions in profit impersonationamong them that of Musk himself.
Along with the issue of respecting freedom of expression, something he mentioned on several occasions, including at the time of “publishing” his own social network, he spoke about the need “authenticate people“, to make sure of that they were real people, not automated bots focused on the spam that has distorted the public conversation.
For now, you just need to know which actions of Elon Musk will remain after the acquisition, with detailed knowledge of the financing process and final agreements reached as part of the purchase.