Elon Musk insists he wants to unlock the extraordinary potential of Twitter, but many people believe that the US billionaire is just looking to get attention.
On April 14, Musk made the “best and final offer” to buy the social network Twitter, which is expected to pay $ 54.2 per share. To complete this deal, he can spend up to 43 billion USD.
In recent days, the US billionaire has repeatedly emphasized that his goal is to promote freedom of expression on Twitter, “unlocking the extraordinary potential” of social networking. However, there is an opinion that the American billionaire just wants to attract attention to himself, whether the offer is made or not.
According to CNN, management, shareholders, Twitter employees and users also have unresolved questions about Musk’s recent actions. 10 days earlier, the US billionaire revealed that he had become the largest shareholder of Twitter, received a position on the board of directors, but immediately gave up, and posted status lines saying that this social network was die slowly.
Jenna Golden, a member of Twitter’s leadership team from 2012-2017, said that many long-time employees are trying to stay calm and trust the company’s leadership to handle the uncertainties from Musk’s statements, but the attitude Musk’s constant change makes it difficult for them to focus on work.
“There will be distractions in the near future,” Twitter CEO Parag Agrawal said in an April 10 memo.
Twitter is said to be considering a series of options, one of which is to apply the “poison pill” defensive tactic to deal with the risk of being taken over. Accordingly, they will allow shareholders to buy back shares at a cheap price to reduce Musk’s ownership ratio, forcing him to sit at the negotiating table.
Despite being the world’s richest billionaire, Elon Musk is still finding it difficult to raise enough cash for a $43 billion deal. “I’m not sure I can afford Twitter,” he admitted at a TED conference in New York on April 14.
Musk’s plan with Twitter
The US billionaire said that the proposed acquisition of Twitter is a way to protect today’s civilization, not to make money. He plans to make Twitter’s algorithm open source and increase transparency with users. He also wants a softer content management policy, limiting indefinite usage bans and moving to short-term ones.
However, there are also people who think that Musk is not really serious about taking over social networks. The proposed proposal may just be a way to polish his name on his favorite social networking platform. He has long used Twitter to build his brand and engage with his more than 80 million followers, as well as anger critics.
“This is an attempt to get Musk’s attention. He suggested buying Twitter because that’s where he’s most famous,” said David Trainer, CEO of research firm New Constructs.
What will Musk do next?
Musk warned that he would “reconsider shareholder position” if Twitter management rejects the proposal, a move that could send Twitter shares plunging. He also alluded to the possibility of causing trouble for the company’s management if they tried to fight back.
He once questioned on Twitter whether users needed a new social network, and said he could raise capital to build a platform to compete with Twitter if he couldn’t buy the company.
If he buys Twitter, Musk could change everything from operating policies to corporate culture. “He’s extremely unpredictable, leading to a lot of doubt and anxiety within the company. Twitter culture is associated with friendliness, which can be questioned if someone like Musk runs.” , Golden commented.
Diep Anh (according to CNN)
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