The world I see around and in fact, the world, which we all see around is mostly glued to a screen. At a point in time, you may develop some sense that this world is covered with more screens than living organisms. There is something that is too addicting about these screens. In fact, we all know what that addicting element is! It is most of a probability, social media.
We live in a society, where we don’t really live in a society, in fact, we live on social media. Jumping from one medium to the other. We might be posting some fun photos on Instagram for a second, choosing captions for the posts on Facebook and then typing out feels on Twitter. Covered with an immense responsibility of maintaining every social media with a good social life has gotten all over us.
In a world where everyone is on social media, It is really important that social media acts like a good and moral social media. It should be more democratic and should have all the fundamentals of democracy. Like free speech and open for all features with strict guidelines about hate and misconduct which we all witness online. The past five years or maybe ten years have been consumed in this discussion of maintaining social media.
There are influential people involved in this decision and the social mediums we use every day are really getting better every day. This article is about one such social media, and that is Twitter. Twitter is one of the most famous platforms in the world. We will cover how it is changing, and the recent news about Elon Musk buying out the biggest stakeholder in the company. There were a lot of ruckuses created recently, let us see the events one frame at a time and then ascertain where the company is headed. First, let us see who the protagonist of this news was and why he is such a sensation.
Who is Elon Musk?
Reaction to Elon Musk Acquiring a 9.2% Stake in Twitter
Elon Musk Tweet's Analysis
Twitter Edit Button Foray
Elon Musk Not Joining Twitter Board
The Present State of Twitter
The Expected Future of Twitter
Is Elon Musk Buying out Twitter?
Who is Elon Musk?
You must be living under a rock if you don’t know who Elon musk is! He is probably the most famous and most sensational entrepreneur and businessman ever known to humanity (At least the twenty-first century). He is smart, he has all the skills to create something in the field of science and technology, and if you look at his Twitter account, he is hilarious.
He is the founder of SpaceX (A space company that builds and launches rockets), Boring Company (A tunnel making company for better and futuristic transportation), and the all-time great Tesla (A smart car manufacturer). This man has literally made everything that most technologists in the world have mentioned to be impossible in the near future.
Maintaining such big companies and a lot more other companies, Elon Musk comes on the list of richest people in the world. Most investors and people in the world love him and trust him. This is Elon Musk, and of course, not to mention that with great powers, comes great responsibilities. He is such an influential person that once he skyrocketed the price of Bitcoin, just by a tweet. He is the mind behind the joke turned crypto, Dogecoin and behind the “to the moon” phrased meme all over the internet.
The best way to find out about Elon is probably not his Wikipedia, it is his Twitter account. He is the most transparent and his usual self on Twitter, I'm joking. His account is filled with memes, jokes, more burning jokes, facts and sometimes random wisdom. Not to mention, Twitter seems to be his favourite social media among all the social media in the world. The founder of Tesla spends a disproportionate amount of time on this medium. This calls for some recent news that broke out when Elon did something really shaking. Let us see what the news was and what seems to be the repercussions.
Reaction to Elon Musk Acquiring a 9.2% Stake in Twitter
The news that came off on 4th April shook Twitter. Not just Twitter but every shareholder of the company. Elon Musk bought 9.2 percent of the company. The result of this action was that it made him the biggest shareholder of the company among other shareholders. This move of buying the biggest stake in the company gives him more power than any other shareholder in the company.
As the news broke out of Elon taking a 9.2 percent share of the company in his ownership, there were many repercussions. As a man who is a very influential personality in the world, this move was unexpected and uncertain at the same time. In fact, there are multiple instances where Elon has proved that he is not predictable at all. He does whatever he feels like doing and with the same stance, he speaks whatever on Twitter he wants to.
As Elon bought 9.2 percent of the social media giant, there were reactions all over. It is to be noted that Elon’s share in the company now stands at about four times that of Dorsey. Jack Dorsey is the co-founder and one of the key people in starting the company, Elon now has more ownership than him.
Another event that occurred after the stakeholding was the jump in the share price of the company. It is to be noted here that the social media giant is a listed company, as it is big and enormous that requires a listing of its own. As a person who can change the price of bitcoin with just a tweet, buying a 9.2 percent share in a company would imply similar reactions. The shares of Twitter jumped 27 percent after the news broke out on the fourth of April. Which is the single biggest jump noticed in the company for the time being.
As this 9.2 percent of stake makes Elon the largest shareholder in the company, this is a big feat. Elon now has powers that can change and alter the decisions of the whole company and thus, the market image of the social media giant. In fact, in some other news, it was also mentioned that Elon was all set to join the board of the company which would have helped him get the powers of dictating the company. This is what happens with the topmost shareholder of a company, and Elon just became one of them. He now holds the most powers on the board of the company.
All of the above repercussions or reactions are just one part of the story and they are the most noticeable changes in the company and the outside. However, there are more reactions and repercussions that are yet to be revealed to the world.
Before Elon gets on the board, we must see what kind of changes we can expect from him. For this information, we will have to look at his twitter account. His Twitter account is full of useful nuggets of information that can guide us in the direction where this person will be taking Twitter to. Let us have a look at his most recent tweets among the news of him buying the most shares of twitter.
Elon Musk Tweet's Analysis
Most celebrities do not like controversies. Let me rephrase it, most celebrities try and avoid any sort of controversies whatsoever in the world. Most people in the world love controversies and stories with great spice in them. As opposed to the popular opinion of being controversial, most celebrities in the world try to avoid arguable moments, at least in public.
Elon belongs to that category of influencers or celebrities who absolutely love controversies. Musk is someone who is super transparent and speaks his mind, even in public. He does not really care about what the repercussions will be and how people will react to his ideas. He just does.
His Twitter account reflects what we just mentioned in the last paragraph. He is his honest self on this social media and just tweets without a second thought. That is one reason for the immense following that he has gotten on Twitter.
Soon after the news broke of Elon Musk buying a 9.2 % stake in Twitter, he was as usual active on his Twitter account. It was probably the 4th of April when this happened and he has tweeted a lot of things since then. Let us see what he has been up to, by decoding his tweets and polls and pictures. Here goes,
One of the first things that he posted on Twitter after becoming the major stakeholder in the company, was a meme. He literally posted a meme which is quite a usual post on his Twitter account and fans reacted the same.
Fans blew up the post by hitting the retweet button a million times. The meme showcased Elon Musk smoking weed. Yes, it gets as weird as we speak more about it. Let us link it up here, the tweeted photograph so that you can relate to what we are saying.
The photograph is of Elon in a past podcast with the podcaster Joe Rogan. Now it is here to be mentioned that Joe Rogan is a popular podcaster and he has an audience that is huge. As mentioned earlier, Elon is his usual self on Twitter, as the world likes to believe and as seen everywhere on the internet. This event was controversial, and it even affected Tesla’s share.
Going back to the tweet, he shared this image of him smoking weed. The image also entailed a caption on the top of the image that read “Twitter’s next board meeting is gonna be lit”. The post is, NOT GONNA LIE is hilarious. It shows that this person is super chill and raises questions on the future of Twitter as a social media which is becoming more and more transparent.
The next tweet of Elon Musk, which we are going to mention here, was also a hit and had rave responses from people all over the world. This time, Elon commented on the famous issue that Twitter has had for a long time now. The edit button. His tweet was a poll in which he asked his 81 million followers "Do you want an edit button ?" He also cleverly added two typos in his tweet poll, misspelling ‘Yes’ as ‘Yes’ and ‘No’ to ‘on’, which was not a random mistake but a thoughtful mistake. This marks the old debate of Twitter having an edit post button like other social mediums.
Do you want an edit button?
— Elon Musk (@elonmusk) April 5, 2022
Parag Agrawal retweeted Elon’s tweet poll and wrote a caption that he wants participants of the poll to choose carefully as this will have implications in the future. Twitter officially mentioned later that they are working on an edit button. Elon’s tweets were famous back then and now, he is the biggest shareholder in the company, which means that he has to decide the powers in his hands.
The consequences of this poll will be important. Please vote carefully. https://t.co/UDJIvznALB
— Parag Agrawal (@paraga) April 5, 2022
The next tweet that we want to talk about is another recent tweet after he became the largest stakeholder in the company. This was actually a retweet with a quote that he wrote. He retweeted some tweets that showcased ‘the topmost followed accounts on Twitter.
The original tweet involved mentions of celebrities Obama, Justin Bieber, Taylor Swift and other celebrities on Twitter. Elon retweeted it by saying, “Most of these top accounts tweet rarely and post very little content”. He also added a question “is Twitter dying”. It mentioned the low popularity of Twitter and super users using this social medium to post less content, as compared with other social mediums like Instagram. This raises questions about the popularity of the social media giant.
Most of these “top” accounts tweet rarely and post very little content.
— Elon Musk (@elonmusk) April 9, 2022
Is Twitter dying? https://t.co/lj9rRXfDHE
He also added some more replies to his original quoted tweet by mentioning some of the top accounts. He said that top accounts like that of Justin Bieber and Taylor Swift did very little or no posts this last year. This sprung many reactions out from everyone who interacted with the tweet. Thus, taking a toll on Twitter and its largest accounts in terms of follower counts.
In another tweet, Elon Musk wrote, ”Convert Twitter SF HQ to a homeless shelter since no one shows up anyway,”. The tweet was a poll with many participants saying yes to the idea. One of the participants in the poll was none other than the richest person on earth, Jeff Bezos. He agreed to that tweet replying that he and his team at amazon did a similar thing. Jeff and his team did turn one portion of their corporate office at someplace into a homeless shelter.
Or do portion. Worked out great and makes it easy for employees who want to volunteer. https://t.co/r0dZWsMxWT https://t.co/NbUNl1bkJ3
— Jeff Bezos (@JeffBezos) April 10, 2022
The tweet about converting twitter headquarters into a homeless shelter came after Elon observed that the employees weren’t coming to the office. So, this poll was an attempt to take a toll on the employees there. However, we feel that folks at Twitter are doing a pretty solid job at their work.
After analysing a lot of tweets from the CEO of Tesla, it’s time to look at the platform and the most famous issue with it. The edit button has been the centre of outrage on this social media for a long time now. Here we will see what it is and how it will be in the future.
Twitter Edit Button Foray
Twitter is a social media that revolves mostly around typed texts. Posts are mostly typed texts that are also limited to some, One hundred and forty characters. This character limit was much shorter in the past and was increased following the huge demand from Twitter users. This is an example where Twitter shows that it takes care of its user demands.
However, there is one more thing that pinches Twitter users. That thing is the absence of an edit button. Twitter has had no edit button since its inception and people are super pissed off from this thing. They have been asking for it for a long time now and Elon entering the scene has been a ray of hope for these people.
In the past, Twitter said that having no edit button inspires people to type responsibly and sensibly. Twitter has also mentioned in a quirky way that “Your typos make it original”. Which is a good escape from the situation. Even before this edit feature was a thing, the issue was fewer characters to tweet. Twitter used to dismiss it by saying that fewer characters for tweeting inspire creativity.
Turns out that the edit button issue is a big issue for all the twitter users and this has to be made a feature on the website and the app. As Elon stepped in the scene with the biggest shareholding in the company, there was hope in the eyes of Twitter users.
In a very recent tweet, Twitter mentioned that “We are working on an edit button”. This tweet, however, was on the first of April, which is known as April fools day. If this is a prank or it is a real thing, we can’t say it in sure terms. Only time will tell if twitter will really be adding an edit button or it was a massive prank. It is not funny however anymore.
we are working on an edit button
— Twitter (@Twitter) April 1, 2022
Elon Musk Not Joining Twitter Board
This is big news for the world, when everyone was expecting Elon to be joining the board at Twitter, this news came out. Let us see what the article that Parag posted said and try to see what happened here. Parag sent a snapshot of the post that he shared with his team on Twitter. The first line of the article read “Elon musk has decided not to join our board” and then comes the explanations.
He said that the Twitter board and Parag himself discussed many things with Elon Musk, that too face to face with no hierarchy in between. The board of directors at Twitter were super excited about Elon joining the board but they want to be sure about the risks involved in the action. The article mentioned that the company expected Elon to act as a real board member, which simply means that he has to work in the best interest of the company and all the shareholders.
With all these general terms and conditions that every company would expect from a board member, the Twitter board offered Elon a seat happily. This was mentioned in the article. Twitter even announced the same on Tuesday on an official notice that Elon will be appointed as a board member. With some little background check.
All the work was nearly done but the next morning, Elon himself said that he will no longer be joining the Twitter board. Parag mentioned that he believes that this decision is for the best and they have always looked out for shareholder’s inputs. For the time being, Elon Musk is the largest shareholder and will remain that way, and the company will always be open to his input. This means that the Tesla CEO will not become a part of the board of Twitter but will remain the largest shareholder in the company with all the rights of a shareholder.
Parag also mentioned that the future of Twitter is full of distractions and all the people working at the company will have to prioritise goals and achievements.
All these events on Twitter really define Elon as an unpredictable person who just can’t be predicted. Not to mention that this company, Twitter is his favourite social media space and now he is its biggest shareholder. This is expected that Elon will be good to the board and will not create any sort of ruckus that is not needed there. But again, Elon is unpredictable as always and saying no to the opportunity of staying on the board of directors will help Twitter stay focussed on what they are trying to build.
As the news broke out, there was an immediate effect that could be seen with naked eyes. Twitter shares fell down, as the stock exchanges are just a reflection of investors' feelings. It is obvious that investors were hurt by this decision and thus, they started pulling money off their stock and portfolio from Twitter. This was the effect of news and Elon, as mentioned earlier is his usual self and does not really care about controversies. He can just punch a stock with a tweet.
The Present State of Twitter
Twitter has been a really famous social media. It is simple to use, has great implications and use cases and people just love it. It is a great platform for sharing news and the most famous thing is, sharing opinions in restrained words. This was a clever idea that worked really well, to build a platform that will allow users to type out their opinions and put them on a social wall that can be accessed from everywhere.
When we compare this social medium with other famous platforms like Instagram, we will notice that this is completely different. Instagram is solely focused on photos and videos (Mostly small). On the other hand, Twitter is a niche website, which can be exactly defined as a microblogging website. It is the words that count here. And of course, even though there are options for photo and video sharing on Twitter, it is heavily verbal and non-central. Instagram is visually appealing, while Twitter works as more of a community place of common ideas and interests.
If we look at Twitter from a business perspective, there is space for that too. Twitter is most commonly used as community management and customer service platform. Most of the companies in the world operate their community services on Twitter and they are really responsive to queries customers ask.
The Expected Future of Twitter
As the series of events and Elon shaking up the board of Twitter, the likely future of Twitter is expected to change. To change is to say at least, if not a drastic change. With Elon joining the board, the first change has commenced already. The first change which is not a small change but a big change is the addition of the ‘Edit button’ on Twitter. We will be taking the word from Twitter that they will be adding the edit button soon.
Is Elon Musk Buying out Twitter?
As we mentioned, this article has to be updated to the latest version of the story. In our research, we found another update and we got to know that Elon wants to buy the whole company. Not that this was not evident from his actions but this is big news.
Elon Musk asked the board to sell the company to him. As a Twitter admirer and now the biggest shareholder in the company, he says that this company has a lot of potentials. A huge potential that is left untapped, and he thinks he is the key person that can unlock that potential.
Tesla’s CEO offered the company an offer that seems too good to be true to us. He said that he will buy every share for 54.20 dollars each, which will value the company at a whopping 43 billion dollars. As the news broke out that the world’s richest person is trying to buy the social media giant, the stock markets reacted in a positive manner. Twitter shares jumped up 5.3 percent and stood at 48.2 dollars.
Twitter said that its board would review the proposal and any response would be in the best interests of “all Twitter stockholders.”
Twitter wants all its actions to fall exactly in the place that helps the company and the stakeholders grow. The current scene with Elon is too unpredictable and unstable to think about it. The offer that he made is probably good but what the board is unable to decide is the fitness of Elon for the role of the most important person in the organisation. If Twitter is bought by Elon, the company will have to do whatever he says as he will have all the controlling rights. Elon is too unpredictable and uncertain to give him the handle for the whole company.
“If the deal doesn’t work, given that I don’t have confidence in management nor do I believe I can drive the necessary change in the public market, I would need to reconsider my position as a shareholder,” said Musk.
This is really a big reply as recently Elon made public his stake at 9 percent and not the 9.2 percent that was previously mentioned which again angered investors in the company. Elon has, for now too much power which has to be controlled otherwise, this man can really buy out Twitter in a hostile manner. We use the word hostile over here because, If the company refuses to accept Elon's offer, he will not invest in the company. Which directly means that the stock will crash, inevitably. This is a situation where the company is taken hostage and what will happen next is really a war-like situation between Elon and Twitter.
Conclusion
Twitter is a famous place to put out opinions and ideas with the aid of words. This is the sole reason that makes it universally famous. Concise wordsmiths love it and are super users of this app. It is not a surprise to hear that Elon loves it too. In a tweet, Elon even mentioned that half of his tweets are from his porcelain throne, which is hilarious and maybe true.
For those wondering, Porcelain throne is a slang term that refers to the toilet seat. This person, who is the CEO of Tesla and a very unpredictable person, decides to buy the largest stake in the company. This sets the hopes of Twitter users to the roof, or we should say to the moon. Elon is unpredictable and is often the centre of controversies. If he joins the board of the company, the future would be really exciting.
As can be seen in the updated news, it was said that Elon will not be joining the board. An exact reason has not been mentioned as of now but this was a real blow for his fans. Even investors on Twitter are scared of this news, so much so that Twitter stock fell as the news broke out. The only thing we are left with is the future of Twitter and its relation with the OG Elon Musk. The answer to which will only be given by time. For now, Elon remains the largest shareholder with all the rights of a shareholder and not the rights of a board member. He will be an influential figure in shaping the decisions of Twitter in the future. Fans are excited and to be honest, we all are too.
FAQs
Is Elon Musk on the Twitter Board of Directors?
No, Elon Musk was offered to join the Twitter boar but Tesla CEO denied the offer and instead is now offering to buy out Twitter.
Is Elon Musk active on Twitter?
Yes, Elon Musk is one of the most active people on Twitter and his tweets are quite influential.
Did Elon Musk buy Twitter?
Elon Musk has offered to buy Twitter for $43 billion.
Source :- https://startuptalky.com/ Author :- Harshit Verma Date :-April 14, 2022 at 11:13PM