Why did Elon Musk buy Twitter?

Why did Elon Musk buy Twitter?

Elon Musk, the world’s richest man, bought the world’s most widely used social media platform where opinions are formed and topics dissected every second.

Elon says that Twitter has tremendous potential that can be unlocked – his $ 44 billion bid was finally accepted by Twitter in a sale that made history for the value and for the significant step the cash rich billionaire made.

Why did Elon Musk buy Twitter?

“Free speech is the bedrock of a functioning democracy and Twitter is the digital town square where matters vital to the future of humanity are debated” Musk said in a statement.

Many believe that he would indeed ensure free space for all opinions on the social media platform that had been liberal and left leaning for a long time, banning conservative accounts with diverse opinions.

But more than that, Musk has a few aces up his sleeve why he bought the social media platform.

As an entrepreneur, Musk so far has exceptional credentials when it comes to making business decisions. He has broken rules of business but has also put together business plans that entrepreneurs find daring but successful.

Does it make business sense?

Musk knows that every acquisition must make good business sense.

Twitter traditionally makes money from ads but they say Musk might want to see a subscription model placed.

There are various options discussed but in the end, we all understand that the most powerful social media platforms remain free to use.

Time will tell if Twitter acquisition would make business sense for the richest man on earth but then, he never did anything traditional to earn his wealth.

He still doesn’t own property and he is not necessarily cash rich but rich in stocks and shares he owns.

Will Twitter be accepting cryptocurrency?

Some say that Musk might add value to Twitter by providing incentives on the platforms for cryptocurrency usage.

Musk is a firm believer in crypto and may want to see the field enlarged for greater crypto operations.

He believes in technology – Tesla is living proof of tech being put to work – so we will have to wait and see if indeed Musk will allow Twitter to support or garner usage of bitcoins etc.

Will Twitter be transformed from its current existence model?

That’s a question that needs to be seen. For now, it looks like Musk will limit the over-extending liberal footprint of the social media platform by allowing all opinions to count rather than banning conservative and encouraging only liberal ones.

Many believe that voices of reason should prevail at Twitter which under its new CEO Parag Agrawal became even more intolerant of conservative opinions. Banning accounts that tweet conservative content was the way to go for Twitter. That has already changed with many banned conservative accounts reactivated.

One account many will believe will be reactivated is that of Donald Trump who had been banned for life on Twitter. There are many others who are rejoicing in Musk’s win.

Why did Elon Musk buy Twitter?

Time will tell.

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