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Why Elon musk bought Twitter?

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3 months ago
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Elon musk no doubt is the richest person on the planet in 2022. Musk made lot of money from his founded companies that is PayPal, space x and Tesla.

He also has companies named neurolink and solar City. He made lot of money from these online companies.

Musk share in Twitter initially.

Initially Elon musk owned 9.2% stake in the most influential social media website Twitter. Musk wanted to buy more shares in the company but the board of directors ask him that he could not buy more than 9.2% stake in the company. Or he can also join the board of directors if he want to share his opinions and ideas in the company because he is a huge investor in the social media website Twitter.

Musk refuses to join the board of directors.

Elon musk refuse to join the directors board and he make a statement that he will buy the whole website Twitter.

Musk wanted to private the social media website Twitter because he wants some changes that are particularly positive changes in the social media website because he doesn't like the biased system in the tweets and the freedom of speech were used differently and many accounts and tweets were down on raising the voice against the odd things.

Musk offer $44bn .

Musk offered 44 billion to buy Twitter. It was an Unchallenged bid and Mr Elon musk bought the whole twitter at $54.20 per share.

How expensive was the twitter?

The total worth of Twitter was so much that if Elon musk add only 6 billion more dollars in the total amount he could buy whole Sri Lanka. Because in 2022 when the Sri Lanka bankrupt and declared his itself bankrupt in the open market of the world it shows the total that of 50 billion Dollars.

Reason to buy Twitter:

One of the main reason to buy the Twitter was that Twitter is the most effective social media platform because it influence the politics and society. The topics in the bed starts to trend on Twitter everything we see trending is on Twitter initially.

So firstly Elon musk tweets on his companies like Dodge coin and space x and Tesla so the total value in the market price of the company increases due to many million followers about 87.2 million followers of Elon musk .

So due to the power of the Twitter and also is impact on the social media he wants to purchase the Twitter and convert a public company into private company.

Some others main reasons to buy Twitter or as follows:

1. Bots and spam accounts:

So there are number of bots and spam accounts in Twitter by using which many people trends the fake topics in the region like if someone wants to trend some false news or false statement the bots and spam accounts will help him to trend it in the specific region and in the specific time so it was the most major problem regarding Twitter because it cause the spreading of fake news in the social media and trends in the social media.

Like someone's name is trending on the Twitter and many fake accounts are trending on the Twitter so he wants to minimise that fake account trending and want to change the algorithm of the Twitter so that true and authentic accounts and news trend in the Twitter and in the social media.

2. Algorithm open source :

Meaning of the algorithm open source for making the algorithm and open sour is that the company will clearly describe the community guidelines and the things that are about to ban if you tweet on that topic should be described.

People are more aware that which trend or which statement is prohibited on Twitter and it will Ban if they will tweet on that specific topic.

So Mr Musk wants to change and better the algorithm of the Twitter so people are more aware about the committee guidelines and about the guidelines of the Twitter that which thing is prohibited and which why things get ban on Twitter.

So by the help of open source algorithm people can contribute in making the community guidelines and they can contribute and give feedback that which words or which statements are banned in their specific regions so that Twitter code analyse it's algorithm according to their feedbacks and it will be an open algorithm source and it will help the people to freedom of speech.

3. Freedom of speech.

One of the most important reason to buy the Twitter was the freedom of speech because many tweets were filter out before they were shown on the social media and many authentic news were banned on Twitter just because of the business of the people and due to some powerful people.

So people are unable to share their words freely communicate with others and freely share the world that this is happening this is wrong this is not right so Elon Musk wants to make a Twitter a better player from where freedom of speech is encouraged and people could share their opinions and it will not filter out and as described in the second reason algorithm is best in a way that things are trend that has to be trend.

Conclusion:

The first plan of Elon Musk was to make his own social media platform where freedom of speech is encourage and people could easily share opinions upon their likes and their dislikes but it was a much complicated and buying a twitter was more and more easier option then creating another social media platform and making it to the level of a twitter and other social media platform so Elon Musk bought the Twitter at $44bn dollars.

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Comments

let's hope he does get rid of all the bots and introduce the tipping system, that would be awesome

$ 0.00
3 months ago

Yeah. It would be great

$ 0.00
3 months ago

I think he will introduce the tipping system in Twitter and that would be with the help of doge coin by the way you have done great effort in writing this article I really appreciate your effort

$ 0.00
3 months ago

I guess you got a point there. Feel free to follow my Twitter to connect where I share my nfts

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3 months ago

Yup brooo

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3 months ago

🙌

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3 months ago