Elon Musk pulled off a spectacular headflip on the entire world when he revealed to almost 80 million of his Twitter followers that it was possible for him to create a social media platform that is focused on freedom speech. Everybody thought that Musk was planning to invest his billions in creating a new social media platform.
Nice move, Elon.
He bought Twitter in large chunks, according to reports.
Starting at BBC…
A US Securities filing shows that Elon Musk owns 9.2% of Twitter.
Twitter shares shot up by the news caused pre-market trading to see a 25% increase in their volume.
Musk is a regular Twitter user with more than 80 million followers, although recently he said he is giving “serious thought” to building a new social media platform.
Musk interviewed his social media followers late last month to find out if they believed the platform promoted free speech.
Twitter functions as the public square. Failure to uphold free speech fundamentally undermines democracy.
What can be done? https://t.co/aPS9ycji37
— Elon Musk (@elonmusk) March 26, 2022
Now, I’m not a brain surgeon, but when you purchase almost 10 percent of anything and spend close to three billion dollars doing it, I think that makes you a player in said venture overnight.
Musk did not keep it secret that he does not enjoy the manner in which the large social media platforms deal with oppressive views. Musk is rare among people who have both an enormous social media following as well as the financial resources to make a difference.
My colleague. Brandon MorseAs we covered last month, Musk doesn’t like woke corporate culture. Twitter is an example of this. Elon Musk shares his thoughts on how far corporations are going with their woke culture…
Elon Musk made it very clear that he doesn’t have the patience or time for woke culture. It is clear that social justice advocacy effectively serves as a business, holding back many things in order to conform to a political fad.
One thing Musk seems to have a very real aversion to is the “Environmental, Social, and Governance” (ECG) standards which are effectively a leftist activist’s wishlist for corporations to check off so activist investors know who to put their money into. Non-compliance with these standards could lead to activists targeting your company and bad publicity.
True to form for leftist activists, however, they’ve jumped on the bandwagon of wanting war with Russia in order to protect Ukraine and as such, ESG funds are now being directed towards defense companies who make weapons that fight hostile regimes according to entrepreneur Marc Andreessen.
As I mentioned here, he is also willing to accept a personal hit if it helps the economic situation. In a new tweet, Elon Musk puts country before profit. This will upset Democrats.
Musk decided that it was easier to have an influence on a company already in existence and with a large following than starting a new business. Musk is clearly a successful entrepreneur. He knows how maneuver and strike great deals.
This was the exact move that Trump made after he left office in 2021. Assembling with investors to buy stakes in the company which had prohibited him and other supporters with terms of service rules that no one understands. Many have been silenced on Facebook, Twitter and YouTube for violating the legendical Terms of Service.
With Elon’s history of being successful with anything he touches, the sky is the limit for Twitter and maybe they’ll drop their fascist mentality about trying to stifle anything that hurts their feelings.
Let’s hope this works.