Elon Musk, who made a $44 billion bid to buy Twitter in April, canceled this deal in June. While Twitter and Musk were in court, Musk resubmitted his $44 billion offer.
While Musk is expected to officially buy Twitter this Friday, an extremely critical statement came today. Musk explained his motivation behind his decision to buy Twitter.
The reason for Elon Musk’s Twitter purchase:
“Dear Twitter Advertisers
I wanted to reach out personally to share my motivation for acquiring Twitter. There has been a lot of speculation about why I bought Twitter and what I thought about advertising. Most were wrong.
The reason I got Twitter is because it is important for the future of civilization to have a common digital town square where a wide range of beliefs can be discussed in a healthy way without resorting to violence. There is a great danger right now that social media will be split into far-right and far-left echo chambers that generate more hate and divide our society.
In its endless quest for clicks, many of the traditional media have fueled and fed these polarized extremists, as they believe it is what makes the money, but in doing so, the opportunity for dialogue is lost.
That’s why I bought Twitter. I didn’t do it because it would be easy. I didn’t do it to make more money. I did it to help the humanity I love. I do this with humility and recognize that failure to achieve this goal despite our best efforts is a very real possibility.
However, Twitter can’t be a free-for-all hellscape where anything can be said without consequences, frankly! In addition to adhering to the law, our platform must be warm and welcoming to everyone of all ages; such as a place where you can choose the experience you want according to your preferences, for example, to watch movies or play various video games.
I also strongly believe that advertising, when done correctly, can delight, entertain and inform you; may show you a service, product or medical treatment that you never knew existed, but that is right for you. For this to be true, it’s important to show Twitter users ads that are as relevant to their needs as possible. Ads with low relevance are spam, but ads with high relevance are actually content!
Basically, Twitter aims to be the most respected advertising platform in the world, empowering your brand and growing your business. Thank you to everyone who has partnered with us. Let’s build something extraordinary together.”
Did Elon Musk buy Twitter?
While Elon Musk implied that he officially bought Twitter with the statement he shared, no official document has been published by the SEC yet. However, there was no statement from Twitter management. On the other hand, Musk updated his Twitter bio as “Chef Twit” after this statement.
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