elon musk buys twitter

How Elon Musk bought Twitterafter months of legal drama Elon Musk,has completed his 44 billion deal


Updated on Jan 12,2023

How Elon Musk bought Twitter

after months of legal drama Elon Musk,has completed his 44 billion deal to buy,Twitter,and like a lot of what musk does his,path to owning his favorite social,network wasn't exactly straightforward,it's no secret musk is one of Twitter's,most prolific users he has more than 100,million followers and tweets almost,constantly he tweets about his companies,SpaceX and Tesla but also memes and 420,jokes but it wasn't until recently we,learned musk wanted to exert an even,bigger influence on the platform,this spring he spent nearly three,billion dollars quietly amassing a 9.2,percent stake in the company almost,overnight he was Twitter's largest,shareholder inside Twitter the,investment immediately prompted concerns,he was gearing up for a hostile takeover,the company decided to offer him a seat,on its board and for a few days it,seemed like he would join but the day,his appointment was supposed to become,official Twitter said musk had declined,to join after all three days later musk,changed his mind again he didn't just,want a piece of Twitter he wanted the,whole company and offered to buy it for,54.20 a share in public musk was already,talking about his plans for the company,he wanted to loosen its moderation rules,and open source its recommendation,algorithms he pledged to do away with,permanent bans except for Bots and,scammers which he wanted to purge once,and for all behind the scenes there was,more going on we now know from musk's,text messages that Twitter founder Jack,Dorsey had been quietly pushing to get,musk involved for years Dorsey who has,said Twitter shouldn't be a company at,all thought musk could fix what he,couldn't the two exchange ideas for,weeks before musk made his offer,meanwhile musk got more and more,frustrated with Twitter's board and its,CEO Baraga girl when agaral told musk,his tweets questioning if Twitter was,dying weren't helpful musk were angry,and said talking to him was a waste of,time unsurprisingly Twitter's leadership,wasn't excited about musk's offer at,first in fact the company's boards,seemed like they might try to fight the,Takeover but then musk secured billions,of dollars in financing from Banks and,investor friends and 44 billion dollars,was just too good to turn down 11 days,later Twitter's board accepted the offer,Twitter would be a private company and,musk would be in control the company,told employees then musk started,tweeting about Bots Bots and fake,accounts have long been made noise from,us Bots constantly jam up his replies,cryptoscamers impersonate him one even,hacked his account cleaning out,Twitter's Bots was one of his main goals,for buying the company he said but as,their lawyers work to close the deal,musk began demanding Twitter provide,more details about just how many Bots,were on the platform Twitter has said,for years that Bots make up less than,five percent of all users musk who sees,far more Bots than most wasn't convinced,he said the deal was now temporarily on,hold he demanded more detailed data from,Twitter about Bots Twitter complied and,agaroll even tried to publicly explain,how it deals with Spam and fake accounts,but musk was unmoved he responded to,aggro's tweets with a poop emoji it had,now been nearly three months since,Twitter accepted musk's offer and musk,was now publicly accusing the company of,lying he wanted out but Twitter now,needed musk the company's stock was,taking and it was worth far less than,the 44 billion dollars musk had agreed,to pay Twitter sued the lawsuit pitted,Twitter against musk and Delaware's,Chancery Court a five-day trial was,scheduled for October Twitter whose,shareholders had approved the buyout,wanted to force musk to honor his,agreement musk who had agreed to the,deal without due diligence said Twitter,had misled him then days before the,trial was scheduled to start and not,long after embarrassing text messages,were published in court documents musk,agreed he would buy the company after,all Twitter cautiously agreed ultimately,Twitter and musk finalized the deal one,day ahead of a court order deadline,Twitter was once again a private company,and musk was now calling the shots but,just because the deal has closed doesn't,mean the drama is over one of his first,moves was to fire several of Twitter's,top Executives including agaroll and the,company's top policy maker he's,reportedly planning much deeper Cuts as,well and could lay off as much as 50,percent of all staff musk also has big,plans to change the platform itself he,wants to form a moderation Council to,weigh in on content policies and he's,likely to reverse many previous,suspensions including Donald Trump's at,the same time he's told advertisers that,he doesn't want Twitter to turn into a,free-for-all hellscape and that he wants,to improve its ads he also wants to,revamp Twitter's subscription features,and has floated charging for,verification and charging to embed,tweets one of his advisors has suggested,allowing companies to pay to DM users,he's eve

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The REAL Reason Musk Bought Twitter Is SO MUCH BIGGER

The REAL Reason Musk Bought Twitter Is SO MUCH BIGGER

the real reason Elon Musk bought Twitter,is so much bigger than you even realized,now it's been all over the news Elon,Musk bought Twitter headlines everywhere,that the bird is free but everyone has,it all wrong the headlines and the,talking heads on mainstream media are,all focused on the wrong ideas and the,wrong motivations and they're missing,one of the biggest breakthroughs in,technology and the financial system we,might see it's a giant Catalyst and,people are just missing it it's because,of all the threat to our democracy and,the free speech talk so in this video,I'm gonna break down what Elon Musk,Twitter takeover is really about we're,going to look at his start before PayPal,we're going to look at what the media,said what Elon himself has said but way,more importantly than any of that we're,going to look at what he is actually,doing what he's actually done what all,this means and of course what,opportunities this has for us if we're,paying attention so let's go,all right welcome back I am so excited,to be going on this journey with each of,you I know a lot of people are scared,they're worried everything's crashing,but not us we see what's going on we,understand the play-by-play and we are,navigating this perfectly because we're,paying attention we are going to make it,all right now let's dive into Elon,musk's true intentions of Twitter this,is what I'm talking about we can see,behind the scenes we can see what is,happening when most everyone has got,this wrong as a matter of fact all of,mainstream is missing this I haven't,seen anybody dig into this story but let,me know what you think in the comments,down below maybe I'm just the best,investigative journalist in the world I,don't really know but let's take a look,all right so elon's true intentions does,he really want to destroy the Democracy,does he really want to save the,Democracy does he want to turn Twitter,into a hell hole where it's full of hate,like a lot of people say does he just,want to bring the president Donald Trump,back I don't know but let's see,everybody is obsessing over his motives,while we're the richest man in the world,need to buy Twitter he must have some,secret,ulterior motive right well we can see,that a lot of people are saying it's,this dangerous right wing he's going to,promote these ideas that are going to,destroy the world as we know it as a,matter of fact just one quick search,online shows you all the results right,here Elon Musk acquisition poses a risk,to our democracy quote a real threat to,our democracy you must buy his Twitter,celebs vow to quit Twitter after Elon,Musk take over Elon Musk is a threat to,our democracy cries Elizabeth Warren,Elon Musk bid for Twitter poses a threat,to our democracy says CSU professor,wow a threat to our democracy now this,is a big big deal and they are,completely missing out on this a threat,to our democracy I don't want to go down,this rabbit hole but I do want to just,pull this point out real quick what does,that mean a threat to our democracy,what is a democracy so the definition of,democracy is a government by the people,so if it opens up free speech and people,like that and they love to have free,speech wouldn't that be a democracy it's,a government by the people it says that,the power is vested the supreme power is,vested in the people so that's when the,people have the power the Supreme power,is vested in the people having the,ability to express our ideas and free,exchange of ideas gives us power vested,in the people and exercised by them,directly or indirectly so we should be,able to exercise our ideas directly,through a system of representation so we,should have this so when they say it's a,threat to our democracy what does that,even mean because to me it seems like,the very definition of the word,democracy is forced to have this power,it says the common people you and I were,common the Common People the absence of,of hereditary or arbitrary class,distinctions or privilege so it's not,for just the leaders to be able to say,what they want or just one political,party to say what they want or just one,person to control the narrative like,Gavin Newsom here in California says,that any doctor that speaks out against,the consensus is now a criminal,but it's not about one class an,arbitrary class hereditary class or,privilege class it's about the common,people it's the absence of those people,is the Democracy so all this talk about,the threat to our democracy I don't even,know what they're talking about but,anyway that's not the point of this,video all right let's jump in so Elon,Musk has told us what he's doing all,right but it's only part of it it's,actually something much bigger it's a,massive opportunity for us all right so,here's Elon Musk on his Twitter he says,Dear Twitter advertisers and he put out,this whole thing I want to pull a couple,pieces out of that real quickly even,though I don't think this is true,motivation I think it's part of it it's,part of it okay so he sa

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The REAL Reason Musk Bought Twitter for 44 BILLION: He's Planning to Change the World

The REAL Reason Musk Bought Twitter for 44 BILLION: He's Planning to Change the World

it's no news that Elon Musk is the new,owner of Twitter after buying the,company for 44 billion dollars now musk,claims that he didn't buy Twitter to,make more money so why exactly did he,buy Twitter and how does he plan on,changing the world,starting a bit back from when musk,bought about 9.2 percent of Twitter,shares on April 4th of 2022. he became,the largest sole shareholder of the,company he then proposed a buy of a,hundred percent of the company's shares,which would make him the owner as the,more shares you have at a company the,more ownership you have his proposal of,buying the company wasn't a regular old,negotiation in a friendly manner but,what a lot of people call a hostile,takeover he told Twitter if you don't,let me buy it then I have no confidence,in the way the company is currently,being run and I'm going to dump all her,9.2 percent of shares that I currently,own having musk take such a decision the,company and its shareholders would be,affected greatly as the stock prices,would significantly decline in price,while they weren't given that much of a,choice they had to go with the offer,next thing the whole deal was placed on,hold by musk for the reason of Twitter,having too many spam Bots and fake,accounts and it it's not known if he was,just trying to talk down on Twitter so,the stock prices could get affected and,he buys it for Less obviously Twitter,didn't like that and wouldn't want,anyone talking down on their platform so,they sued him to enforce original merger,agreement,after a series of back and forth between,musk and Twitter he finally agreed to,buy the company moving to October where,musk finally gathered the 44 billion to,pay for Twitter and finalized payments,on the 26th of the same month after musk,established his position as the new,owner of Twitter and temporarily changed,his Twitter bio to Chief twit things,changed very quickly at Twitter he,walked into Twitter HQ with async and,later tweeted let that sink in then made,a lot of changes at the company firing,Twitter's former CEO parag agrawal and,other top Executives musk still went,ahead firing more than half of Twitter's,workers reducing the number of workers,from 7 000 to Just 2 000 and demanding,more work hours from the remaining,employees most of the old conference,rooms were turned into bedrooms as,Twitter employees could face up to 80,hours of work weekly but they better not,be caught sleeping during work hours,what exactly exactly is up with all the,hassle if as said by musk himself that,he didn't purchase the social media,company to make more money and that's,very reasonable purchasing Twitter for,44 billion dollars in its current state,that is losing millions of dollars every,day and with the current economic,situation doesn't seem like a good,investment there's no way he could have,also bought Twitter just for creating a,free speech platform although musk as a,result of being stuck in traffic created,by the boring company which digs,underground tunnels to reduce traffic on,roads he tweeted about him being stuck,in traffic and how it sucked saying he,would dig tunnels and replying to his,tweet saying he would actually do it as,crazy as that seemed musk being who he,is actually embarked on the Journey of,reducing the traffic on roads by digging,underground tunnels well musk is not,that crazy to buy Twitter just for free,speech or is he his reason for buying,Twitter might just be a little related,to his whole Free Speech idea but just,to clear the misconception Twitter,wouldn't become a place for anyone to,just say anything inciting violence,giving hate speech or anything against,Twitter's Community standards,controversial content will just not be,pushed to people's feeds but would just,disappear on the Creator's walls for,people who look to see more like having,an archive of controversial topics that,people can look through if they wish,this is a good one by Elon giving users,more control over their experience but,this could prove hard to pull off easier,said than done you might say for context,musk wrote Twitter obviously cannot,become a free-for-all hellscape where,anything can be said with no,consequences in addition to adhering to,the laws of the land our platform must,be warm and welcoming to all where you,can choose your desired experiences,according to your preferences just as,you can choose for example to see movies,or play video games ranging from all,ages to mature okay that's quite an,enough for what's been happening with,Elon Musk Twitter and the Twitter HQ,it's interesting to see that musk has,way bigger plans for Twitter hoping to,utilize the platform for his major goal, the everything app he doesn't plan,to change Twitter into the everything,app but for reason but the platform as,it would accelerate which would be,the game changer you may be wondering,what the whole is about and how he,plans on changing the world with it,firstly you might have heard of,because it was the name of one

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Elon Musk vs. Twitter: Inside the 6-Month Battle | WSJ

Elon Musk vs. Twitter: Inside the 6-Month Battle | WSJ

- Twitter has been on a rollercoaster,throughout 2022 ending on October 27th,in one of the biggest tech takeovers in history.,Going back earlier this year here in April,,Elon Musk made a massive 44 billion bid,for the company but just three months later,,he called it off.,Twitter sued.,Musk sued back.,- Oh yeah, Twitter.,(audience laughing),- Then he changed his mind again.,- This has been a drawn out fight,between Twitter and Musk with a lot of twists,and turns.,- Those twists and turns take place,on a timeline that has not only influenced stock prices,but has also sown uncertainty among employees,and as Twitter says,,contributed to a 1% decline in revenue.,So how did Musk's flip flopping,on the deal lead to a six month battle,that threw off Twitter's business.,His tweets, statements and text messages,,as well as court documents tell the story.,The timeline starts here,on January 31st when Musk started buying,up shares of Twitter,and he started sharing his opinions,about how the platform works.,- He did toss out a lot of ideas,on how to change Twitter,,how he thought he could make Twitter better.,Things like emphasizing free speech,,things like changing,how it approaches content moderation.,- After months of buying,,Musk publicly disclosed a 9.2% stake,in the company.,His first tweet of the day said simply...,The next day Twitter announced,that Musk would be joining the board.,- Musk is one of the most prominent users,of Twitter but he's also been one,of its loudest critics.,Twitter invited him to join the board,to try to bring him into the fold and work,with him on these issues.,- Musk tweeted,that he was looking forward,to making significant improvements,to Twitter in the coming months.,- At first, when he was talking,with Twitter's leadership, it was pretty friendly,but then a friction tension started to emerge.,- As Musk was gearing up to join,,he was still criticizing the platform.,Tweeting "Is Twitter dying?",CEO Parag Agrawal texted Musk,,"It's my responsibility to tell you,that it's not helping me make Twitter better,in the current context.",To which Musk responded,,"I'm not joining the board.,This is a waste of time.,will make an offer to take Twitter private.",- Musk would be the new owner,and I think the thinking is that,if Twitter's private he would be able,to take more risk in trying to overhaul,or jumpstart their business.,- It didn't take long for Musk,to act on that promise.,Formerly announcing his 43 billion bid to take,over the company, the number was later revised,to 44 billion.,In an interview with TED that day,,he explained his decision.,- My strong intuitive sense is,that having a public platform,that is maximally trusted,and broadly inclusive is extremely important,to the future of civilization.,- On April 25th, Musk,and Twitter officially reached a merger agreement.,But even as Musk was lining up fresh financing,and cheering more ideas for the platform,,he had a surprise in store.,- The billionaire CEO announcing just hours ago,that the $44 billion deal to take Twitter private,is now on hold.,- Musk tweeted that the deal was temporarily,on hold as he was waiting for more information,from Twitter on the number of spam accounts,on the site.,- We know that Musk had talked about bots,before the deal but then he started having,more concerns or saying he had more concerns,and he started questioning kind of the health,of Twitter's business.,- Musk expressed interest,in a lower price for the company,at the "All-In" Summit on May 16th.,- You can't pay the same price for something,that is much worse than they claimed.,- Twitter's CEO addressed Musk's bot claims,,tweeting in a thread that the company estimated,that less than 5% of reported monetizable daily active users,are spam accounts and they don't believe,this specific estimation can be performed externally.,Musk replied with several tweets,but one was just...,Musk continued to push himself further,from the deal, threatening to walk away,in a letter to Twitter saying he believed the company is,actively resisting and thwarting his information rights.,Musk's reversal was followed by a flurry,of coverage and commentary.,- Yep, I feel like Elon is pretty close,to saying, "I'm so sorry.,My two year old took my iPad and clicked buy,so I didn't know what... (audience laughing),So we're cool?,We're cool, right?",- He officially tried,to call the whole thing off,at the beginning of July.,- I mean, at the start,,Musk was really pushing for this deal,and Twitter was kind of resisting and then,it kind of seemed like their positions changed,and Musk was the one trying to back out,while Twitter was saying,that they wanted to close.,- Four days later,,Twitter formally sued Musk,in an effort to force the merger through.,- So Twitter said they did share information,about how they handled spam and fake accounts,with Musk but Musk kept demanding more,and that was a big part of the legal fight,that was going on.,- The filing took aim,at Musk's flip flopping

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Elon Musk Twitter Buy Explained: Why He Offered $43 BILLION!

Elon Musk Twitter Buy Explained: Why He Offered $43 BILLION!

elon musk has offered to buy twitter,let's get all the facts,twitter has become kind of the de facto,town square,really important that people have the,both the,the reality and the perception,uh that they're able to speak freely,within the bounds of the low elon musk,offered to buy twitter at 54.20,per share valuing the social media,company at 43 billion dollars according,to a regulatory filing in a letter to,brett taylor the chairman of twitter's,board of directors musk said twitter has,extraordinary potential i will unlock it,an hour after the story broke musk,tweeted i made an offer,muska's offer to buy twitter is the,latest in a string of events between the,billionaire and the social media site it,comes just days after he decided not to,join twitter's board of directors after,acquiring a 9.2 stake in the company in,march,the nearly 3 billion acquisition made,musk twitter's largest shareholder,until the vanguard group increased its,stake and bumped him from the top spot,once news of musk's bid hit twitter,there were mixed reactions,musk's followers and supporters,expressed excitement that he might own,the social media platform but many more,voiced concern at the idea of the,reportedly richest person in the world,owning twitter and adding the company to,his numerous business assets however,musk says he's not looking to make money,from twitter,that is he doesn't view the acquisition,as a financial investment instead he,sees it as a service for public good my,strong intuitive sense is that,having a public platform that is,maximally trusted and broadly inclusive,is extremely important to the future of,civilization i don't care about the,economics at all an avid twitter user,musk is also one of the site's biggest,critics musk tweeted a poll to his 81,million followers in march asking,whether users believe twitter was,protecting free speech,he said the poll results in which,roughly 70 percent of 2 million,respondents answered no would be very,important,as part of his original agreement to,join twitter's board musk had pledged to,cap any investment at 14.9 percent while,serving a two-year term with the,agreement now scrapped musk is free to,add to a stake if musk acquires twitter,he says he wants to increase the,public's trust of the platform by making,it a place of inclusivity and true,freedom of speech a necessary feature of,any functioning democracy he adds during,an interview at the 2022 ted conference,in vancouver musk said that he values,truth on april 9th he shared a tweet,reading truth is the first casualty with,an image from a yougov survey showing,the most trusted media organizations,since announcing his stake in twitter in,april musk has posted several tweets,about what he'd change at the company,and one which has since been deleted he,asked whether twitter's san francisco,headquarters should be turned into a,homeless shelter because no one shows up,anyway in another he asked if twitter,was dying,as one of twitter's largest shareholders,musk already has a lot of power he can,team up with other shareholders and push,for any changes he wants to see musk,also has a tendency to sway public,opinion with his tweets after tweeting,tesla would no longer accept bitcoin as,a form of payment multiple crypto coins,took a dive when he said tesla would,start accepting dogecoin for some,merchandise the cryptocurrency surged,he could use that power and influence to,try to bring changes to twitter without,buying it if he does acquire twitter,musk proposed a number of changes he,would make to the social media platform,including an edit button something he,told his followers about a few weeks ago,twitter has been working on an edit,feature since 2021,something musk didn't acknowledge during,his ted conference interview,musk's edit button would be time,sensitive and also zero out any retweets,eliminating scam bots and bot armies on,twitter would also be a top priority for,musk,he noted during his interview that they,bring down the site's product value and,make it worse for users,musk said you would also make twitter's,content moderation practices more,transparent he added that users should,know whether tweets were being promoted,or de-emphasized manually or,algorithmically,he cautioned against permanent bans from,twitter advocating for temporary,suspensions instead,musk believes twitter's coding structure,should be transparent as well,if he purchases twitter he said he would,post its open source data on github a,popular form for coders so people can,access the company's data identify flaws,and offer solutions,musk is an avid twitter user with over,81 million followers,however he admits he doesn't really have,a strategy for his twitter account his,tweets are reflections of a stream of,consciousness it's impressive,considering that neither tesla nor,spacex companies he owns operate a,marketing or public relations department,news and developments at both companies,is often shared first via muscu's,twitter account,muska's in

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Why Elon Musk ACTUALLY bought Twitter.

Why Elon Musk ACTUALLY bought Twitter.

what on Earth is happening with Twitter,why is it happening and how are some,people really excited but others,absolutely terrified about it so just to,make sure you're all caught up on April,4th 2022 Elon Musk the British fan of,the world single-handedly accumulated,9.2 percent of Twitter's shares making,him the number one biggest solo,shareholder of the company the more,shares you have the more ownership you,have a few days later he then offered to,buy the entire rest of Twitter for 54.2,dollars per share which meant that he,was offering a total of around 44,billion for the whole company his price,was reasonable but not everyone loved,the way that he did it instead of just,putting in a friendly offer he said look,if you don't let me buy it then I have,no confidence in the way that this,company is currently being run and I'm,going to dump all of her 9.2 percent of,shares that I currently own which a lot,of people have called a hostile takeover,because even without the Twitter board,of directors agreeing with his buyout,he's not really given them a choice if,Elon Musk suddenly sold all of his,Twitter shares that would massively,reduce the value of each share meaning,that anyone who is at all invested in,Twitter is going to lose money and so,they're all going to need that deal to,go through but then Elon did something,kind of odd he put the deal on hold,because he all of a sudden felt like,there were just too many fake accounts,on the platform and therefore that he,was overpaying I mean we use YouTube we,can relate to the Bots but this very,sudden 180 did raise the question of if,he was trying to Trash Talk Twitter just,to be able to plummet their stock price,and get away with paying less either way,Twitter wasn't happy about that this guy,was not just trying to retract his offer,but was also soiling their reputation in,the process,so they sued him saying that he had to,pay what he'd initially committed to and,after a long drawn out back and forth it,seemed like Elon just went all right,whatever screw it I'm in he changed his,Twitter bio to Chief twit flew to,Twitter HQ and quite literally let that,sink in then things changed very quickly,he fired the CEO paragagawal he's got,rid of staff on a scale that we've never,seen before taking the workforce all the,way from around 7500 to about 2 000 and,he's already made three enormous changes,to the way the companies run one being,how he's drilled down on the few,employees who have stayed scrapping the,free lunches they used to get vetoing,remote work and forcing them to come,into the office even turning old,conference rooms into bedrooms because,they're being pushed to work up to 80,hours per week two he's amped up,Twitter's monetization by making the,Twitter blue subscription which,previously allowed you to edit tweets,now twice as expensive but justifying it,by adding the additional perk of getting,any paying subscriber the verified tick,necks of their name oh and a sub to the,channel would be beautiful not to,mention his seeming intention to turn,Twitter into yet another video platform,he started pushing for ads on videos,just like YouTube and he's even said,he's going to offer a higher percentage,cut than them to content creators and,then three is elon's take on what should,be and what shouldn't be allowed on,Twitter he started reinstating accounts,that were previously banned including,Donald Trump who was taken off initially,for inciting the riot of the Capitol,building and what all of this has led to,is frankly,chaos big name celebrities have publicly,said they're quitting advertisers have,pulled their spending and every day you,read a new report that basically says,the company is burning down from the,inside out this is fine but is there a,method to this madness Does Elon,actually know exactly what he's doing,what's the reasoning behind all of this,well we can start to build a picture by,looking at what he said when he first,made the offer I didn't do it because,it'd be easy I didn't do it to make,money I did it to try and help humanity,and while it's hard to take that,completely at face value given how he,nearly backed out on the basis that he,was paying too much if all he wanted to,do was to just get even richer than,there were a million easier ways to do,it than offering 44 billion for a,company that's losing money almost every,single year yeah Twitter's financial,situation is not good but we're getting,there plus I mean look at the guy's,other businesses Elon owns Tesla that's,pushing us towards eco-friendly electric,cars SpaceX that's trying to make,Humanity an interplanetary species and,neuraling he's finding a way for our,brains to be able to direct directly,communicate with machines well of course,he is making money from them the point,is they're all also big picture,Progressive companies that are carrying,the global population into the future so,I can believe that there's at least an,element of Truth to his Noble reasons,for acquiring Twitter Elon h

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Elon Musk buys Twitter for $44 billion

Elon Musk buys Twitter for $44 billion

foreign,breaking news the deal is done Twitter,has been sold to Elon Musk the Tesla and,SpaceX CEO acquired the social media,company for roughly 44 billion dollars,musk proposed to buy Twitter for just,over 54 dollars a share earlier this,month calling his bid his quote best and,final offer the company's 11-member,board approved that offer today CBS News,Tech reporter Dan Patterson joins us now,for more on this hi Dan so following up,to our earlier conversation uh was this,simply a case of the offer being too,good to refuse once the financing was,clear to the board,hey good to see you Tanya so according,to some technology analysts uh it simply,came down to cash and a lack of other uh,suitors to potentially take the company,private or by a majority share uh there,just wasn't competition in the market,relative to what Elon was offering,um so it looks as though this deal at,least according to the early analyst,reports uh we did reach out to musk into,Twitter for comment as well but at least,according to the early analysts it looks,as though this deal should pass uh,Regulators pretty easily as well and,close sooner rather than later and of,course what does this all mean for,Twitter for the employees have they been,giving any heads up on how this could,change you know their work day tomorrow,yeah so Tanya the best way I can,describe what's going on right now,um within uh and and probably,um within number a number of layers that,Twitter is kind of that uh shrug Emoji I,mean there's so we have reached out both,to our our typical sources as well as uh,Twitter's spokespeople we haven't heard,anything from them,um this is pretty atypical usually,um they respond fairly quickly they have,a statement ready and uh this opacity is,you know,um like we mentioned earlier in the day,it it's uh if you're gonna read those,tea leaves you'd say something pretty,serious is was going on but the way,Twitter employees are going to react you,know other than the share price going up,uh who knows right now well Dan my uh my,line producers akina is telling me in my,ear that Twitter is going to be holding,an all hands meeting later this,afternoon so maybe those employees will,be getting clued in a little bit further,as to what all this means for them uh,you know Dan as you as you know Elon,Musk has been a vocal supporter of what,we've been talking about free speech in,hashtag right and uh so is there a,concern now that perhaps with him at the,helm and him sort of pushing his version,of what it means to be a free speech,platform that more dis information could,come back onto Twitter,oh we really don't know the particulars,of how things might shake out uh right,now but this free speech thing that that,musk has been charting out recently it's,kind of a red herring it's it's good,bait and it's something that he kind of,knows everybody is going to argue about,because it's fairly,um you know it's relative uh and means,different things to different groups of,people and so it's it's something that,he knows that people are going to chase,and get upset about but it's not really,uh the core of what musk cares about,here and I think that core is uh,influence you know we've seen celebrity,presidents and now we see celebrity CEOs,and that's maybe maybe what musk cares,more about now,um than ever is this role of influence,power and celebrity there are some you,know journalists on Twitter right now,I'm just reading some that are not happy,about this change some are saying,they're not sure how much longer they're,going to stick with Twitter,um you know there's an interesting point,to be made here about a billionaire,owning and single-handedly having,control over such a huge social media,platform,um and not and us not having any idea of,the direction he really hopes to take it,yeah um I mean look we we don't know the,direction he might take it but he has,indicated he would not just make changes,to Twitter's functionality but he would,iterate more quickly he thinks that,Twitter is kind of lagged when it comes,to making substantive competitive,feature changes,um so we could also see him I mean he,says he doesn't like advertising,although advertising is a huge percent,of Twitter's Revenue uh he could lean,more into,um uh features like different types of,subscription tiers,um so maybe it's not content changes,he's looking to make maybe it's just,sort of user interface changes yeah it,could it could be more functional than,it is philosophical right,all right well Dan Patterson thank you,so much for breaking all of this down,for us Elon Musk the new owner of,Twitter thanks uh for chatting with us,good to see you

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The Real Reason Elon Bought Twitter For 44 Billion!

The Real Reason Elon Bought Twitter For 44 Billion!

all right let's do it let's talk about,Elon Musk buying Twitter it's a topic,we've been largely avoiding as a tech,focused Channel but now that this has,officially made the leap from,speculation to confirmed Twitter,purchase we probably need to examine,what this means for Elon and his,portfolio of business ventures because,this will undoubtedly have a wider,ranging effect ostensibly Elon says that,he is buying Twitter because he wants to,protect free speech and democracy in a,series of text slides posted to his,Twitter feed Elon wrote it is important,to the future of civilization to have a,common digital Town Square where a wide,range of beliefs can be debated in a,healthy manner without resorting to,violence which I think is something that,most people could easily agree is a,great idea but we seem to be having a,much more difficult time agreeing on how,that architecture should be built and,who should manage it Elon Musk probably,isn't the best candidate for the job but,he's not the worst either and one thing,that we can safely say for sure is that,Elon did not buy Twitter to make money I,don't think you'll find one person who,would claim he got a great deal,purchasing a social media company for 44,billion dollars in this economy,particularly as we watch The Old Guard,at Facebook slowly crash and burn so,what's Elon up to with this whole,Twitter situation why is he doing it,let's try and work that out,foreign,let's try and remember how we got here,in the first place because it's been a,while,this all started back in March when Elon,started musing that he's given serious,thought to building an alternative to,Twitter little did we know that Elon had,already started buying up massive,amounts of Twitter stock and had,approached the board and CEO of the,company to talk about the potential of,taking his own seat on the board then in,April public regulatory filings revealed,that Elon has actually gathered up a,nine percent stake in Twitter shares,worth about three billion dollars the,following day Elon is offered a seat on,the company's board of directors on the,condition that he stopped buying more of,the company CEO parag agrawal tweets it,became clear to us that he would bring,Great Value to our board,less than five days later Elon,reportedly messaged Twitter's board,chairman Brett Taylor and said fixing,Twitter by chatting with parag won't,work drastic action is needed Elon,declines his seat on the board a few,days later on April 14th a Securities,filing shows that Elon has made an offer,to buy the company outright for 44,billion dollars then there was the,months-long back and forth where Twitter,said they didn't want to be purchased,and try to thwart what they called a,hostile takeover then they changed their,mind and accepted elon's offer then Elon,started saying that maybe he didn't want,Twitter because they couldn't properly,account for the spam Bots and fake,accounts and by July he had decided he,wasn't actually going to do the deal at,all but Twitter had seemingly warmed up,to the idea of the whole hostile,takeover thing and they sued Elon to,force him to buy them Elon countersuit,and then the whole situation kind of,went on the back burner while the the,lawyers said about their work that,brings us to October where things get,interesting again Elon tweeted on the,fourth buying Twitter is an accelerant,to creating X the everything app and,followed that up by writing Twitter,probably accelerates X by three to five,years but I could be wrong so that was,our first real signal that Elon had,bigger plans for Twitter than just,dialing back censorship and making the,platform more open he wants to leverage,the Twitter platform to finally create, whatever that is apparently it,will be everything which tells us,basically nothing what we do know is,that Elon made his decision to yield his,court battle just days before he was,scheduled to take the stand for his,deposition by Twitter lawyers it's,almost certain that this would have been,a hostile grueling and likely revealing,cross-examination that may have played a,part in his choice Elon was given until,October October 28th to come up with the,44 billies which he collected from a,variety of Partners and investors that,range from personal friends to Silicon,Valley Tech Titans to even a highly,controversial contribution from the,Crown Prince of Saudi Arabia and finally,on October 26th Elon walks through the,front door of Twitter's San Francisco,headquarters carrying a kitchen sink,announcing let that sink in the next day,Elon fires CEO parag agrawal along with,the majority of Twitter's top Executives,they're escorted out of the building by,security Elon installs himself as the,sole director of Elon did,clarify that his time as Chief twit will,only be temporary but for now at least,he's flying solo and for sure we could,get into all of the hot takes flying,around from unnamed sources familiar,with the matter who say that Elon is,going to lay off three

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