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Why Does Elon Musk Want to Buy Twitter?
So why does Elon Musk want to buy Twitter? One reason may be to open up Twitter’s code and algorithm to the public. Another may be to increase its board of directors to be more aligned with its shareholders. Whatever the reason, a Twitter acquisition would be a positive development for the company. Ultimately, though, there are a few reasons why Elon Musk would want to purchase Twitter.
Elon Musk wants to make Twitter’s algorithm and code open source
Elon Musk recently suggested that Twitter should make their algorithm and code public. He argues that making these two components of the platform open source will increase Twitter’s profit. But would this approach make the experience worse for users? The answer is not as simple as it sounds. After all, the algorithms and code behind Twitter’s functionality are largely determined by the user experience. What are you likely to see on a Twitter page?
Twitter’s current algorithm isn’t transparent enough to make users aware of changes in their content. However, Musk has said in his April TED Talk that users should have access to their promoted tweets. It would be better if the code that powers Twitter’s algorithms were made publicly available on Github, so that everyone could look for errors and suggest changes to improve the service.
Elon Musk has stated that he is willing to buy Twitter and wants to unlock its “extraordinary potential”. He has repeatedly called for changes to the algorithms, particularly in the areas of political speech. But a more open algorithm could bring unexpected problems. He has also outlined some other changes that might affect Twitter. If Twitter does decide to make these changes, Musk has expressed his desire to share them with the public.
He wants to get more people on board
The recent announcement by Elon Musk about his attempt to buy Twitter has caused some controversy. While Musk said he did not know if he would succeed, he sees Twitter as a public square and a key part of democracy. His vision is unlikely to please everyone, and many people have questioned his intentions. What is clear is that Musk wants to make Twitter a more inclusive platform for everyone.
The CEO has repeatedly said that he loves the social networking service, but he has a different perspective on the business. For one thing, building cars requires a very different set of skills than developing software, and Musk has previously said he is willing to let people work remotely. The lack of in-office participation has been linked to a decreasing esprit de corps. Musk also hinted that he will eventually add payments technology to Twitter, so users can send money directly to each other.
Aside from its censorship issues, Musk’s new role could be a tool to fight back against Twitter’s content moderating policies. By pushing back against content moderating policies, Musk could help Twitter push back against a policy that he believes is hindering free speech. A survey of Twitter users’ opinions on this issue revealed that over 70% of respondents opposed free speech on the platform.
He wants to make Twitter’s board more aligned with shareholders
Tweeting that Twitter’s board is not aligned with shareholders, Tesla CEO Elon Musk threatened to cut its pay to zero. Musk said in his tweet that the number of shares the board members own is not indicative of their alignment with shareholders. The Tesla CEO later added that Twitter has a disproportionate number of non-executive directors. This shows that Musk and his fellow board members are not acting in the best interests of Twitter shareholders.
The Tesla CEO reportedly wants to take over Twitter with a $43 billion offer. In response, Twitter’s board adopted a “poison pill” plan to thwart hostile takeovers. The plan requires the board to approve a discount stock purchase for 15% of Twitter’s outstanding shares. Musk is already a shareholder of Twitter, with a 9.2 percent stake in the company.
In a recent tweet, Musk revealed that he holds roughly 9% of the company’s stock. He publicly floated several proposals, but the Twitter board declined. In response, Musk invited himself to become a member of the board, but did not accept. Musk has publicly floated a number of proposals to make Twitter’s board more aligned with its shareholders, including a proposal to change the company’s governance structure.
