Elon Musk is in the process of taking over Twitter, the American communication brand, a platform for microblogging and social networking, for US$ 44 billion. The board of Twitter accepted his deal of offering US$ 54.20 per share and made the brand his private property. The acquisition has resulted in discrepant reactions all over the world. Well, this is no new scoop. However, what does this change of authority actually mean for Twitter? This article is an attempt to analyse one of the most successful entrepreneurs Elon Musk's decision and aftermath of adding Twitter to his portfolio.
How the front office reacted: Elon Musk is an active Twitter user and has stated his support for freedom of speech. His endearment for the tweeting platform is visible through his words. Be it important announcements, to sharing geeky jokes, Elon frequently pops up on people's Twitter feeds. On the other hand, Twitter's founder Jack Dorsey is happy that Wall Street no longer owns the company.
Dorsey said he was happy and tweeted, "Twitter will continue to serve the public conversation. Around the world, and into the stars!" Dorsey also said that taking Twitter "back from Wall Street is the correct first step" as he believes nobody should own or run Twitter. Dorsey's Twitter thread reads his affirmation for Elon Musk, and the founder highly appreciates the acquisition, believing in Musk's abilities to turn Twitter around from its present state.
What Elon Musk has in mind: Elon Musk's success as the CEO of Tesla Motors, an affordable electric car-making brand, and SpaceX - a brand specialising in rockets and spacecraft, intensifies the probability that Twitter will gain influence as a platform to communicate and share viewpoints. He has proven his imaginative abilities in tech multiple times. Elon has been vocal about his decision, and his intentions are for the betterment of free speech and liberties -- so he claims. The possibilities of drawing Twitter to a successful change are there, and new investors seem interested in the brand as it is in the hold of the CEO of Tesla.
Elon Musk has successfully turned Tesla and SpaceX into big names and made the Twitter acquisition even more attractive to many. Elon's opinions also included that Twitter doesn't necessarily support conservatives and has a strict content moderation. It has given birth to viewpoints that spoke of Donald Trump's comeback to Twitter, a platform he intensely liked to use.
Reactions from the stakeholders and investors: Some of the prominent business capitalists, entrepreneurs and contemporary investors of Silicon Valley who have put their money together have shown interest in investing in Twitter since it is now Elon Musk's property. The bid has also garnered international attention. Investors strong-willed to support Musk have been forming syndicates and vehicles and trying to provide money to the proposal through the famous brands affiliated with the deal.
Employees were leaving Twitter, and Musk's hold on the brand has put restraints on the internal decision of Twitter to fill up the vacant post for employees. The sudden changes this man will include with Twitter are a matter of observation.
Twitter has had its ups and downs since its inception. The microblogging site's decreasing popularity from 2012 till recent years made Elon's purchase more intriguing. Could Elon make it great again? It is the question that got the hype. While many of Elon's admirers believe that Twitter will probably rise again through Elon's eccentric attempts to make things otherworldly, many have shown their distaste towards the purchase. Big names like Jeff Bezos and The New York Times joined the controversy. Jeff's tweet showed that Twitter employees were hopeless regarding the acquisition. Times' words state that Elon Musk's unpredictable, outlandish decisions might root out the culture Twitter has had for years and make the platform lose the authenticity that Twitter employees have worked for years to build. The negative responses include Andrew Tarantola's non-minced words that expressed her concerns regarding the inestimable results that will show up due to the acquisition of Twitter and how it would impact democratic and social politics worldwide.
Whether Twitter will gain its impact as a distinguished platform or not is a question only time can answer. However, we do know this, love him or hate him, Elon Musk will have a few tricks up his sleeve for Twitter and it will be fun to see what he does next.
The writer studies Computer Science and Engineering at East West University, Dhaka.