Why did Elon Musk buy Twitter?

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Main topic: Tech
Other topics: Elon Musk, Twitter
Short answer:
  • To turn Twitter into a stronghold for "free expression."
  • To maximize Twitter's potential by transforming it into a "superapp."
  • Some say that Musk wanted media power.
Meet the new boss... The Elon Musk Twitter Interview at TED 2022

Claims made by Elon Musk about why he has bought Twitter[edit]

  • Elon Musk asserts that the reason he purchased Twitter was "to serve mankind."[1]
  • There is a significant risk that social media will continue to polarise society by creating echo chambers for extremists on both the far right and far left, which will only serve to spread more hatred.
  • He desires the platform to be one that is "kind and inviting everybody."
  • Sharing a broad variety of opinions allows for the possibility of constructive discourse, which may take place without resorting to violence.[2]

Musk is not happy with Twitter management and believes in its potential[edit]

Musk has certain legitimate political and social convictions about how Twitter should be governed, and he believes that it is not being run by those values. However, he thinks that this is not the case. He finds that tweeting provides him with both a lot of joy and a lot of value, and he wants it to be maximized for his usage. Because the value of his firm is increased as a result of his being a very odd public person on Twitter, it is evident that he places a significant amount of value on tweeting and that he most likely wants to possess that value for himself.[3]

Twitter for the sake of his professional reputation and professional interests[edit]

Through their use of social media, popularity, and gaming memes, corporations were able to garner extremely high market values and generate a significant amount of capital. Elon Musk has added a significant amount of value to his firm as a result of his uncontrolled behavior on Twitter.[4]

Twitter is an undervalued company with a surprisingly large upside[edit]

Twitter stock is very unloved by investors. A number of analysts who follow Twitter have a pessimistic outlook on the company's future. As a result of how unpopular it is right now, its stock is now one of the least valuable among the main social media and internet advertising businesses.[5]

To provide support to Donald Trump for elections[edit]

There are fair chances that Elon Musk is also intended to support Donald Trump for elections, which could potentially help Musk in gaining a lot of business and law enforcement advantages, where he has struggled in the past.[6]

Elon Musk and Donald Trump, Source: The Washington Post

Enter China and help with deals[edit]

Musk has made a public commitment to upholding all forms of free expression, but he has also taken steps to improve relations with world leaders that are working to reign in Big Tech. Musk gave his approval to the European Union's new digital media regulation, which will impose big tech companies to do more to counteract illegal content or risk facing fines of up to 6% of their global revenue. This represents one of the most stringent approaches to regulating online content and is considered among the most severe in the world.

Source: Business2community

Twitter is doing away with its content moderation system[edit]

If Musk follows through with his promises to lower the safety barriers that are standard across all social media platforms, this will result in a flood of material that is destructive, perhaps illegal, and bigoted on Twitter.[7]

To potentially buy Tesla shares again at a lower price[edit]

After Musk declared that he was going to buy Twitter and would be selling a Tesla stake to help with the acquisition of Twitter. This can potentially increase the stock price of Twitter shares and can buy back Tesla shares again at a cheaper price.[8]

References[edit]

  1. ↑ "Elon Musk Twitter deal back on in surprise U-turn". BBC News. 2022-10-04. Retrieved 2022-10-30.
  2. ↑ "Right before he bought Twitter, Elon Musk said he didn't want to buy the company and called it 'a recipe for misery.' Here's what changed". Business Insider. Retrieved 2022-10-30.
  3. ↑ Silberling, Amanda (2022-10-27). "Elon Musk tells advertisers that Twitter cannot become 'a free-for-all hellscape'". TechCrunch. Retrieved 2022-10-30.
  4. ↑ Chotiner, Isaac (2022-04-26). "Why Elon Musk Bought Twitter". The New Yorker. ISSN 0028-792X. Retrieved 2022-10-30.
  5. ↑ "Twitter - Limited downside and a surprisingly large upside". Undervalued Shares. Retrieved 2022-10-30.
  6. ↑ ""I Don't Think Twitter...": Donald Trump After Elon Musk Takes Over". NDTV.com. Retrieved 2022-10-30.
  7. ↑ "Elon Musk says Twitter will form content moderation council with 'diverse viewpoints'". The Economic Times. 2022-10-29. ISSN 0013-0389. Retrieved 2022-10-30.
  8. ↑ Root, Al. "Tesla Stock Is Too Cheap. It Should Buy Back Its Shares". www.barrons.com. Retrieved 2022-10-30.
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