Now that we know Elon Musk is going to buy Twitterwhat’s next?
On Monday, Twitter confirmed that the billionaire and CEO of Tesla and SpaceX plans to acquire the social media company in a $44 billion deal.
Once the deal is closed, which is expected to happen this year, Twitter will go private.
“Twitter has a lot of potential – I look forward to working with the company and the user community to unlock it,” Musk said in a statement.
What does Musk’s plan mean for the future of Twitter and its users? How is everyone reacting to the idea of Twitter taking over? Here’s everything we know so far.
THIS IS OFFICIAL:Elon Musk to acquire Twitter for $44 billion
Why is Elon Musk buying Twitter?
Musk has long criticized the platform for the way it moderates content. When Musk first offered to buy Twitter this monthhe said he initially invested in the service because of its potential as a global platform for free speech.
“However, after investing my funds, I now understand that the company will neither prosper nor serve this public imperative in its current form,” Musk wrote. “Twitter should go private.”
How will Twitter change?
Musk’s free speech comments suggest the billionaire could loosen tweet moderation rules. However, experts fear a service that is already struggling to fight misinformation and harassment will only get worse.
Musk hinted at other features he wants to implement, for example, try to rid the platform of spam bots and a system for “authenticating all people.”
It’s also possible that Musk wants to move away from advertising and focus more on Twitter as a subscription service.
How do users feel about it?
Reaction to the deal was mixed.. Around the time the deal was announced, the phrase “RIP Twitter” was trending on the platform.
Some users were shocked at the price Musk was willing to pay for Twitter, while others speculated whether Musk made a deal to crack down on negative tweets about him.
Others have wondered what the change of ownership could mean for previous users who have been suspended from the platform. Speaking of which…
Does this mean Donald Trump is back on Twitter?
Twitter permanently disqualified the former president after rioting at the Capitol on January 6 over what they called “the risk of further incitement to violence”.
Many observers believe Musk will reinstate Trump after he gains control of the company.
How does Jack Dorsey feel about the deal?
Dorsey, co-founder of Twitter and board member of the company, backs Musk’s plan to acquire Twitter.
According to a series of tweets Released on Monday, Dorsey said taking the company off Wall Street and going private is “the right first step.”
“Basically, I don’t think anyone should own or manage Twitter,” wrote Dorsey. “He wants to be a public good at the protocol level, not a company. However, solving the problem of being a company, Elon is the only solution I trust. I trust his mission to expand the light of consciousness.”
Could Twitter move to Texas?
Twitter is currently headquartered in San Francisco, but Musk has made no secret of his love of Texas when it comes to his business.
At the end of last year, Musk announces plans to relocate Tesla corporate headquarters from California to Texas. Musk also moved the headquarters of his tunneling and infrastructure company, The Boring Company, to Texas. He also plans to expand the presence of SpaceX to the state.
Experts and tech officials in Austin say they wouldn’t be surprised if Musk decides Twitter may need a new home in Texas too.
Follow Brett Molina on Twitter: @brettmolina23.
ALL ELON, ALL THE TIME:
- WHO IS ELON MUSK? What you need to know about the richest man in the world
- CH-CH-CHANGES: Here’s how Musk proposes to change Twitter.
- Twitter under Elon Musk: Will free speech mean more hate speech?
- TRUMP IS BACK ON TWITTER? Will Musk let the former president return to Twitter?
Credit: www.usatoday.com /