Twitter Tried the Oldest Trick in the Book
by Jeff Brown, editor, The Bleeding Edge
The battle for Twitter
Whether or not freedom of speech will be allowed again on Twitter's platform, just got a lot more interesting. Last week brought news that none other than Elon Musk himself acquired 9.2% of the company. The move followed a series of tweets from Musk last month concerning whether or not a new, open, and censorship-free social media platform should be built.
After the news of Musk’s stake broke, it was immediately expected that Musk would join the board of Twitter. In fact, Twitter did offer him a seat, but the offer came with a major stipulation: As a board member, Musk would not be able to own more than 14.9% of the company’s stock.
Musk declined.
Twitter was a bargain when Musk started buying, and from my perspective, Twitter is worth a whole lot more than where it trades today. And if the platform returns back to its original ethos rather than trying to impose itself as a false arbiter of truth, the sky will be the limit.
But that’s not why Musk is buying in…
He knows Twitter is broken in its current form. And he knows that when scientists, scientific researchers, and other experts in their respective fields are censored, banned, or de-platformed because the information that they share doesn’t fit a political narrative, a breakdown of society will follow in the absence of free, open, and healthy discourse.
Musk came out of nowhere
Twitter’s board was caught off guard. They couldn’t change that, so they tried one of the oldest tricks in the book. They tried to pigeonhole Musk and limit his influence. But it didn’t work.
Musk is too busy building what no one in the automotive industry has ever been able to do. He’s too busy democratizing access to space. He’s too busy working on enabling the human race to eventually become a multi-planetary species.
Do we think he wants to screw around fighting for control of the board vote by vote? Heck no. He’ll just buy the company and do it right… Problem solved.
There is no need to build from scratch when the infrastructure is in place right now. He can pay cash if he wants to, but he won’t need to. There’s plenty of private equity that will support the acquisition.
Game on!
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Tim Moseley