Why did Elon Musk buy Twitter?

Information Musk want to control Twitter has been around since the end of March as he seeks to buy back as many shares of this company as possible. In early April, a filing with the US Securities and Exchange Commission (SEC) showed that the US billionaire owned 9.1% of the social network shares.

Midway through this month, he claimed to have “made the best and final offer” to buy Twitter. He also claimed to have a “Plan B” ready if it failed, and sought to meet privately with some of Twitter’s major shareholders to convince them of his bid.

Musk’s efforts have made many people question why the richest person in the world, owning a series of large companies, is trying to acquire a social network.

“I think it’s very important to have a comprehensive foundation for free speech,” Musk explained at the TED conference in mid-May. “Twitter is becoming a digital plaza where issues important to the future of humanity are debated and where people can freely express their views within the bounds of the law.”

The US billionaire said that his decision to buy Twitter was not to make money. He wants to take control so that he can make the Twitter 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.

Musk is not alone in calling for technology platforms to be more transparent with their algorithms. After Scandal of Facebook related to the former manager Frances Haugen, how algorithms can promote division and direct users to negative content has caused much controversy in the community. Experts fear humans are becoming more and more dominated by algorithms.

Twitter Co-Founder Jack Dorsey also repeatedly called for providing users with tools to control social networks. He even re-shared Musk’s survey question and commented: “The choice of which algorithm to use (or not) should be open to everyone.”

However, there is also the opinion that the platform is likely to see more extremist content in the near future – a problem that social media companies have been trying to solve for some time. Musk admits content moderation is “a matter of uncertainty,” but it will take time to change.

Musk’s ability to change Twitter

Musk has just reached an agreement to buy Twitter, while closing the deal is expected to take several months. Under US law, he is required to notify the Federal Trade Commission and the Department of Justice of his planned takeover of Twitter and the possible delay in the transaction.

Musk also pledged to take Twitter as a private company. When announcing the bid, he wrote in his SEC filing that “since deciding to make my investment, I have realized the company will not thrive in the future, nor serve the social imperatives of society. society in the present. Twitter needs to be transformed into a private company.”

Elon Musk is predicted to make some big changes on Twitter in the future. Users of the platform currently have no way to edit tweets other than deleting and reposting. Earlier this month, the US billionaire asked his more than 80 million followers if they wanted an edit button. 73.6% of the more than four million people chose “Yes”. A day later, the Twitter communications team confirmed that the company was adding the feature to the platform.

Musk also said he wanted to let people see if their tweets were promoted or demoted. “That can help prevent manipulative content,” he said mid-month. Some Twitter insiders revealed that the company’s research team has looked into the issue, but the feature seems to be a lot more complicated than expected.

It’s still unclear if Musk has made any changes to Twitter’s privacy policy. According to some experts, the US billionaire could face backlash if users’ data becomes less secure. In fact, owning Twitter is said to give Musk more control over “sensitive” user data than other companies he runs like Tesla and SpaceX.

Bao Lam (according to Washington Post)