In a series of pictures shared on Twitter, Elon Musk listed out his reasons for buying the fastest-growing micro-blogging social platform, Twitter.
“I wanted to reach out personally to share my motivation in buying Twitter. There has been much speculation about why I bought Twitter and what I think about advertising. Most of it has been wrong.”
The world’s richest man made it quite apparent that he is the new boss at the Twitter HQ by changing his Twitter bio to “Chief Twit”. Mr. Musk emphasized the fact that the sole reason he was up in arms for acquiring Twitter was “because it is important to the future of civilization to have a common digital town square”, where different beliefs & ideals can be debated upon & co-exist in harmony. But he categorically mentioned that “Twitter obviously cannot become a free-for-all hellscape where anything can be said with no consequences!”
Musk’s New Take On Twitter
Mr. Musk made it amply clear that he wants to loosen the rules around content moderation on the social media platform & might even unban former President Donald J. Trump as well. He also re-instilled the trust in Twitter’s employees by stating that there were no plans of laying off 75% of the staff after taking over Twitter.
Declining Revenue Across Social Media Platforms
This Twitter post from Musk came in at a time when social media platforms are facing a meltdown in digital advertising. Meta announced on Wednesday that their profits had declined more than 50% & didn’t see any sort of relief in the short term. At the time of composing, Meta’s stock crashed over 20% in pre-market due to this negative news.
“Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise. To everyone who has partnered with us, I thank you. Let us build something extraordinary together.”
The New York Stock Exchange’s website showed that the shares of Twitter Inc will get suspended from trading on Friday as Musk needs to close his $44 Billion deal before the 28th October deadline prescribed by the honorable court.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
