Elon Musk Takes 9.2% Stake in Twitter After Hinting at Shake-Up

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Elon Musk has taken a 9.2% stake in Twitter Inc. to become the platform’s biggest shareholder, a week after hinting he might shake up the social media industry.

Twitter shares surged about 26% in premarket trading after Musk’s purchase was revealed Monday in a regulatory filing. The stake is worth about $2.89 billion, based on Friday’s market close.

Musk, 50, polled his more than 80 million followers on Twitter last month, asking them whether the company adheres to the principles of free speech. After more than 70% said no, he asked whether a new platform was needed and said he was giving serious thought to starting his own.

Musk has been one of the biggest personalities on Twitter and has regularly run into trouble on the platform. The Tesla Inc. chief executive officer is currently seeking to exit a 2018 deal with the U.S. Securities and Exchange Commission that put controls in place related to his tweeting about the electric-car maker.

The announcement will be yet another major test for new Twitter CEO Parag Agrawal, who replaced Jack Dorsey after he unexpectedly resigned in November. Agrawal vowed to increase accountability, make decisions faster and to improve product execution. The company set ambitious goals for growth including increasing annual revenue to $7.5 billion and getting to 315 million daily users by the end of 2023.

https://www.bloomberg.com/news/arti...2-stake-in-twitter-after-questioning-platform
 
Was listening to a Podcast this weekend with David Sachs who is one of the Paypal Mafia. With his background it was interesting to hear this perspective on these tech giants and how the 'public square' is now pretty much social media and while Twitter, Facebook etc are non-government owned companies free speech rules should apply. He referenced Alex Jones being deplatformed by Twitter. Because the guy was/is so odious most people didn't think much of it but Sachs said it set the precedent for deplatforming and as we've gone forward it can become more an ideological thing to deplatform folks and is a very slippery slope. As he said it gives these tech oligarchs massive power.

He went into a lot more than that but it was fascinating. Wil be interesting to see what role, if any, Musk tries to play here and if he tries to move Twitter away from the direction its going and more towards supporting free speech that it was founded upon.
 
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it's insane. If s sitting President can be deplatformed, and the platform can survive such a brazen action, it has become a predatory monopoly. no ifs ands or buts about it.
 
zymurgy said:
it's insane. If s sitting President can be deplatformed, and the platform can survive such a brazen action, it has become a predatory monopoly. no ifs ands or buts about it.
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Not true. Play by the rules, or go away.

Musk is a blowhard who embarrassed himself when that soccer team got caught in the cave. His attempted publicity stunt exposed him for the farce that he is.
 
Althea said:
Not true. Play by the rules, or go away.

Musk is a blowhard who embarrassed himself when that soccer team got caught in the cave. His attempted publicity stunt exposed him for the farce that he is.
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"play by monopoly rules or go away"

dumbest person in the room - the minute you walk in
 
AProudLefty said:
He is a minority shareholder.
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He's like trump...with actual money
[h=1]Elon Musk Brands Himself An ‘Idiot’ In Thai Cave Rescue Defamation Lawsuit[/h]
Billionaire Elon Musk has described himself as “an ... idiot” for his handling of the PR disaster that followed from his tweet calling a British cave diver “pedo guy” in 2018.

Musk’s comments were disclosed in court papers from Vernon Unsworth’s defamation lawsuit against the Tesla founder. In the documents, Musk is described as “a thin-skinned billionaire who is obsessed with his public image and who has a history of vindictively and intentionally ignoring truth to maintain that PR-created image.”
Musk, according to the documents, had taken umbrage at Unsworth, who was involved in the 2018 rescue of a group of soccer players from a flooded cave in Thailand, and dismissed Musk’s submarine rescue plan as a PR stunt in a CNN interview that went viral.
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Musk is an attention whore who will have no effect on any Twitter policy.
 
cawacko said:
Was listening to a Podcast this weekend with David Sachs who is one of the Paypal Mafia. With his background it was interesting to hear this perspective on these tech giants and how
the 'public square' is now pretty much social media and while Twitter, Facebook etc are non-government owned companies free speech rules should apply. He referenced Alex Jones being deplatformed by Twitter. Because the guy was/is so odious most people didn't think much of it but Sachs said it set the precedent for deplatforming and as we've gone forward it can become more an ideological thing to deplatform folks and is a very slippery slope. As he said it gives these tech oligarchs massive power.
Click to expand...
,,
 
cawacko said:
Was listening to a Podcast this weekend with David Sachs who is one of the Paypal Mafia. With his background it was interesting to hear this perspective on these tech giants and how the 'public square' is now pretty much social media and while Twitter, Facebook etc are non-government owned companies free speech rules should apply. He referenced Alex Jones being deplatformed by Twitter. Because the guy was/is so odious most people didn't think much of it but Sachs said it set the precedent for deplatforming and as we've gone forward it can become more an ideological thing to deplatform folks and is a very slippery slope. As he said it gives these tech oligarchs massive power.

He went into a lot more than that but it was fascinating. Wil be interesting to see what role, if any, Musk tries to play here and if he tries to move Twitter away from the direction its going and more towards supporting free speech that it was founded upon.
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yes.

thank you for continuing to do better.

and even the fucking libertarian cum fascists who are saying "private companies can censor cuz my privatization"...,

fuck those guys too.
 
the 'public square' is now pretty much social media and while Twitter, Facebook etc are non-government owned companies free speech rules should apply
 
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