Saturday, May 21, 2022

Will you Love or Hate Twitter since Elon Musk owns it now? Our take on it

Elon Musk owns Twitter officially since today. Everyone knows Elon Musk’s failed attempt takeover bid for the social media company, offering to buy it for $54.20 a share and take it private has finally succeeded today on Monday 25th April 2022. Though the deal was terminated with a “poison pill” previously by the Twitter board, nothing seems to have worked in favor of Twitter, and finally, it gave up. But the question of how would Twitter change under Elon Musk, would you love it or hate it, is way intriguing to be left unanswered.

Will you Love or Hate Twitter since Elon Musk owns it now? Our take on it
Will you Love or Hate Twitter since Elon Musk owns it now? Our take on it

What happens now since Elon musk owns Twitter?

Twitter has extraordinary potential. I will unlock it,” he wrote in an April 13 letter to Taylor enclosed in the filing.

A few hours after the $43 billion offer was made on Thursday, Musk did comment that he was not sure he would be able to buy Twitter. Musk had made these comments at the TED2022 conference in Vancouver.

When asked if there is a “Plan B” if his offer was rejected, Musk said “there is” however he declined to elaborate.

Will that change how Twitter works?

Elon Musk’s ‘free speech’ stance riles up conservatives

Musk says he’s a “free speech absolutist” he has expressed concerns regarding Twitter straying from its roots as “the free speech wing of the free-speech party.”

“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe. I believe free speech is a societal imperative for a functioning democracy,” Musk added.

“Twitter needs to be transformed as a private company,” says Musk.

With that, Musk dabbled further into a superheated, bitterly divisive political debate over social media moderation. On the contrary, many view limits on harmful/extreme speech are vital to free-flowing discourse on the social site.   

“The reason Twitter works is that it has limits, terms of service as well as rules. A ‘free speech’ board where anything and everything goes will immediately be infested by spam, scams, racism, Nazis, trolls with nothing else to do, along with hate speech,” according to conspiracy theory and QAnon expert Mike Rothschild’s tweet. “It would become worthless as well as impossible to use.”

Conservatives, however, accuse Twitter along with other mainstream social media companies that they say are run by liberal elites of selectively targeting conservatives to silence their voices.

On news regarding the bid made for Twitter, conservative commentator Brent Bozell, founder, and president of the Media Research Center tweeted out: “Free at last. Free at last. Conservatives may be free at last!”

According to analysts making Twitter, a free speech free-for-all could prove harmful to its business.  Analysts say if there was no buffering of hateful, offensive/extremist posts, individual users would be less inclined to use the Twitter platform.

Elon Musk could’ve gotten rid of ads on Twitter?

Musk’s tweets suggest that he is interested in a subscription-based business, he’s not a big fan of advertising.

According to Musk, he would ban ads from Twitter Blue as “the power of corporations to dictate policy is greatly enhanced if Twitter has to depend on advertising money to survive.”

Musk would’ve likely focused first on an ad-free Twitter Blue to build a subscription business. Twitter’s advertising business sadly, has not kept up with its competitors. Twitter has just 1.1% of the US digital advertising market, as per eMarketer. Twitter is expected to capture 1.2% in the coming year, as per an eMarketer forecast from Insider Intelligence.

Will you use Twitter the same way?

Was all that Elon Musk might’ve wanted was your Twitter data

Musk would not have made over-the-top changes to Twitter, however, would rather want access to the users’ data if he would’ve run the company, according to Karen North, a professor at the University of Southern California as well as a social media expert.

Will users leave Twitter since Elon musk owns it now?

Now is there no definitive way to tell if you would’ve loved or hated Elon Musk’s reign as CEO, and as the deal has been canceled, we’d never know. If you ask me from a non-twitter user standpoint, it wouldn’t matter to me but say you were a Twitter fanboy, then there would be some change suggested by Musk, that’d offend you, other than that, the feeling of Love or Hate depends on your perspective. 

One thing is clear, Twitter employees were worried that Elon Musk will destroy the company’s culture while creating a punishing work environment akin to Tesla, which could not be considered love.

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