Why exactly did Elon want to buy Twitter? - page 4.

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Quote from: OgNasty on October 28, 2022, 07:38:44 PM

The reason he gave was that he wanted people to have an open town square where they could communicate freely without censorship leaning to one political party. In reality, he thinks that Twitter is the perfect tool to build out for an "everything" app. He's stated that he wants to make Twitter like WeChat in China, where it handles payments, booking, communication, pretty much everything you need.

Well, I don't see a "public town square" flocking around a for-profit platform (assuming they expand on Twitter Blue) especially not one that freely bans right-wing personalities. The future is more what BlueSky is about.

That would be like saying that everyone reads a specific newspaper or watches a particular news channel.

The everything app, OK, but then again, an OS with an App Store can already do all that stuff. It's just a case of people (both at WeChat and Twitter) wanting to control everything without going the full 10 miles and writing a whole OS for it.

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Quote from: adaseb on October 27, 2022, 09:56:30 PM

For one he overpaid for it because looking at tech stocks like Facebook, it’s value would be probably less than $20 a share compared to the $54.20 he paid for it. So he really must have a big interest in it.

When companies get bought out, it isn't uncommon for the buyer to pay a premium over the going share price. In Musk's case, it doesn't surprise me that the economics seem to be playing a backseat role in this whole thing--because him buying Twitter was never about turning it into an enormously profitable enterprise. He wouldn't need to do that, nor is he the Warren Buffett type, looking for undervalued assets.

Why would any mega-rich person want to buy a media company? Same reason Ted Turner, WR Hearst, or any similar person in history has taken control of one: it's a power play. If you control what people see and hear about the world, you can very effectively shape their opinions about pretty much anything.

I think that's probably the real reason behind Musk's Twitter buy. He might be an advocate of free speech and all that, but he's got to have an ulterior motive to spend that much money on something that's likely not going to be very profitable.

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Quote from: adaseb on October 27, 2022, 09:56:30 PM

Seems it’s official. However I am puzzled as to why he bought it in the first place.

For one he overpaid for it because looking at tech stocks like Facebook, it’s value would be probably less than $20 a share compared to the $54.20 he paid for it. So he really must have a big interest in it.

Anyone know why? Is it because they banned Trumps account? Is it because it’s censored too much and he wants it to be more decentralized ?

The reason he gave was that he wanted people to have an open town square where they could communicate freely without censorship leaning to one political party. In reality, he thinks that Twitter is the perfect tool to build out for an "everything" app. He's stated that he wants to make Twitter like WeChat in China, where it handles payments, booking, communication, pretty much everything you need. By taking Twitter private now, he was also able to cash out a lot of his stock in Tesla at the peak, and diversify his holdings into Twitter, which he believes he will take public again in around 5 years, probably cashing out a pretty penny in the process.

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Quote from: AmoreJaz on October 28, 2022, 06:29:26 PM

Quote from: chaser15 on October 28, 2022, 06:11:14 PM

Just to show off his money power and capability lol. Just kidding.

Twitter's supposed overall profit isn't even in the same league as Elon's owned companies therefore it's something about having a big audience in one place. No way he will just spend big money for nothing.

We will only know the stuff behind this once we saw Twitter doing such unusual action on their platform under Elon's ownership.

remember, he is a businessman. so he is seeing something profitable on this social media channel. not only the audience but the money flowing in and out using this socmed. he can easily reach out to the public also via this channel. no way he will buy this if he doesn't see anything favourable to his agenda.
we will see in the coming days what kind of moderation they will apply here under his leadership.

Seeing him as a businessman plus owning a legit social media app and is quite popular among the people, you know where this is going. And probably if find another opportunity that would favor him he will do anything since he got the money. Although, I'm confused why choose Twitter or perhaps he got a fanclub on that app so he could do anything just to create the hype that he wanted. Will there be an unusual activity going to happen after he owns it?

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Quote from: chaser15 on October 28, 2022, 06:11:14 PM

Just to show off his money power and capability lol. Just kidding.

Twitter's supposed overall profit isn't even in the same league as Elon's owned companies therefore it's something about having a big audience in one place. No way he will just spend big money for nothing.

We will only know the stuff behind this once we saw Twitter doing such unusual action on their platform under Elon's ownership.

remember, he is a businessman. so he is seeing something profitable on this social media channel. not only the audience but the money flowing in and out using this socmed. he can easily reach out to the public also via this channel. no way he will buy this if he doesn't see anything favourable to his agenda.
we will see in the coming days what kind of moderation they will apply here under his leadership.

chaser15

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Just to show off his money power and capability lol. Just kidding.

Twitter's supposed overall profit isn't even in the same league as Elon's owned companies therefore it's something about having a big audience in one place. No way he will just spend big money for nothing.

We will only know the stuff behind this once we saw Twitter doing such unusual action on their platform under Elon's ownership.

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Lol, the funny story and reason i heard why Elon musk buy twitter is because his fight with bill gates and did that to own twitter and ban bill gates twitter account and revenge for that, that’s a silly reason of course and so childish to be honest that’s a low level for a person in his position and being the richest man on earth doesn’t give him the right to do silly things
For him he claims that he did it to help humanity and fund humanity causes, since he has much money and twitter even he makes him more money that won’t effect his assets that much

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He definitely has a plan, considering he's making such a heavy investment. Although Twitter is about to die from underutilization in some countries, it's still quite popular in some countries. I think he didn't buy Twitter because he was directly interested in its income, he wanted to buy it because of the influence it created. Never before have we witnessed a social media site ban the American president and look so strong.
I don't think he ever intends to make Twitter decentralized. I don't think this purchase has anything to do with Trump's ban, at least directly, either. Since it's a platform that directs the masses, it seems normal to me that he wants to control it. After all, as the richest person in the world, it wouldn't hurt to pay extra when he could afford to buy such a thing. Building such a platform from scratch and reaching this number of users wouldn't be easy. We will see the effects of this buy in the coming years.

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Quote from: Don Pedro Dinero on October 27, 2022, 10:32:35 PM

It seems that the purchase had a political background, yes. People who have those levels of money are no longer driven by money so much as by power:

Elon Musk ‘fires Twitter executive’ who banned Trump as speculation mounts he could return to platform

In addition, it is quite likely that Trump will run for president again in 2024. So it all adds up.

This can be one of the reasons why Elon Musk buys Twitter. However, there should be more reasons. Elon Musk isn't a typical person who focuses on government politics. He prefers to be busy with business matters than taking part in government politics. I am pretty sure that buying Twitter will increase his popularity and it may have a big advantage in promoting his business in the future. It is probably about Tesla products or other things.

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I take Elon's words at face value -- he believes in free speech and wants the de facto town square to be free and fair, allowing for all voices to be heard.

He won't make twitter a place for free speech absolutism, but it sure will be a better forum for ideas than its current iteration. Driving out the far left wing politics and media industrial complex that have had a monopoly on big tech will be refreshing, and getting rid of the bots would help clean the place up.

Quote from: Don Pedro Dinero on October 27, 2022, 10:32:35 PM

It seems that the purchase had a political background, yes. People who have those levels of money are no longer driven by money so much as by power:

Elon Musk ‘fires Twitter executive’ who banned Trump as speculation mounts he could return to platform

In addition, it is quite likely that Trump will run for president again in 2024. So it all adds up.

This doesn't make sense. No one in their right mind is going to spend 44 billion dollars so they can get some political favors done. There are much cheaper options. And Elon Musk is a Ron DeSantis supporter anyways. He has no intentions of voting for Trump. I don't think this is about politics.

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Quote from: adaseb on October 27, 2022, 09:56:30 PM

Seems it’s official. However I am puzzled as to why he bought it in the first place.

For one he overpaid for it because looking at tech stocks like Facebook, it’s value would be probably less than $20 a share compared to the $54.20 he paid for it. So he really must have a big interest in it.

Anyone know why? Is it because they banned Trumps account? Is it because it’s censored too much and he wants it to be more decentralized ?

You could read i up here.

“The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence,” Musk wrote in a tweet

Source: https://www.cnbc.com/2022/10/27/twitter-cannot-become-a-free-for-all-hellscape-musk-tells-advertisers.html

I do agree on that reasoning though but lets see on how Twitter would be running under his hands.

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I agree with the idea that Musk may seek to gain influence more than just thinking about money, at the same time it cannot be overlooked that what he has done cannot be outside the scope of the investment activity, which must reap profits in one way or another.
I thought that the issue of the purchase of Twitter by the global billionaire Musk had been transferred to the American judiciary, due to the percentage of fake accounts on the platform. Are there any details about how things turned out and how a settlement was reached?

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As far as I am aware, he wanted to just build a centerpiece for what’s to come. He wants to build something that would be one giant centre for all his future social media or human interaction business, he could have purchased all of facebook which would be facebook+instagram+whatsapp and that would be better for him but he doesn't have that much money.

So, I am assuming that he bought the next thing that he could with the amount of money he has and that’s the reason why he got Twitter. In a few years we are going to see him branching Twitter out to bigger and bigger things and add more stuff to it, and that’s when we will understand why he wanted to buy it so badly.

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Quote from: Don Pedro Dinero on October 27, 2022, 10:32:35 PM

It seems that the purchase had a political background, yes. People who have those levels of money are no longer driven by money so much as by power:

Elon Musk ‘fires Twitter executive’ who banned Trump as speculation mounts he could return to platform

In addition, it is quite likely that Trump will run for president again in 2024. So it all adds up.

Still doesnt add up on why he buy twitter though. Donald Trump is a name / individual that will keep on existing even if he is banned on Twitter. Besides that, even if Trump runs for another president, he doesnt really need twitter to help him win the election. Most of the Americans are not really happy with how Biden runs things around so good chances he might got it back if he runs for it even without being on twitter

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Quote from: Don Pedro Dinero on October 27, 2022, 10:32:35 PM

In addition, it is quite likely that Trump will run for president again in 2024. So it all adds up.

First of all the American public probably would've let him get away with other stuff but the majority will not be voting for him after that "Watergate 2.0" documents fiasco.

Quote from: ?? on ??

You can't predict Elon Musk's move, the real reason why he bought twitter will remain unknown until he decide to reveal it through his next moves

He already revealed it. It's called Project X.

Quote from: KaliLinux on October 28, 2022, 08:00:46 AM

So does this mean Elon Musk can even tweet whatever he wants and influence the market since he is the owner of the platform now without someone censoring him Huh

Because I believe maybe before now that would have happened if he posted something that might be inappropriate for the market or seen as trying to manipulate the market.

No.

Owning a social platform doesn't put you above the SEC's iron first just as owning a website doesn't mean you can post whatever you want to manipulate markets.

Considering that Jack Dorsey (the original Twitter co-founder) is making a Web3 version of it, it may seem that this acquisition is irrelevant anyway, like catching a falling knife, or buying .com businesses before the dot-com crash.

Edit:

Quote from: arallmuus on October 28, 2022, 02:41:55 PM

Still doesnt add up on why he buy twitter though. Donald Trump is a name / individual that will keep on existing even if he is banned on Twitter. Besides that, even if Trump runs for another president, he doesnt really need twitter to help him win the election. Most of the Americans are not really happy with how Biden runs things around so good chances he might got it back if he runs for it even without being on twitter

The answer is that they are completely uncorrelated. Trump doesn't need Musk's help to win an election. Also I don't believe either him or Biden are in for a second term as the people are sick and tired of their antics/policies.

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Quote from: Solosanz on October 27, 2022, 11:06:53 PM

Twitter is really a big social media for cryptocurrency space, he can do anything if he want to pump his favorited coin e.g. Doge.

I don't think Elon musk bought Twitter just because he wants to pump doge coin, actually since he bought Twitter doge coin have been pumping, but I think the reason why he bought it is best known by him.

Quote from: davis196 on October 28, 2022, 01:30:00 AM

Elon Musk is driven by his own ego. He wants to be in the spotlight. He wants the people to like him and talk about him 24/7.

I think I support you, Elon musk already has the money already so I don't think money should be his problem, but I think he wants everybody to know about him, he wants to be mentioned in every aspect, I think that's why he decided to join even cryptocurrency, whenever you mention doge coin, then you will have to mention Elon musk, so I think he just want to be in every sector.

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Musk does things out of a whim because he can. I hoped he won't buy Twitter, but here we are. I think the main reasons are that he really likes the platform and has already been very prominent on it, but also that he wants to be able to reorganize something as powerful as Twitter based on his beliefs. I guess we'll see whether he truly believes in absolute freedom of speech and how it will be in practice and whether it won't actually just become another kind of censorship, based on what Musk finds acceptable and not acceptable.

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Quote from: Lucius on October 28, 2022, 10:08:20 AM

He bought Twitter so that he could easily shill shitcoins, isn't that more than obvious Roll Eyes

He was already doing that without owning Twitter, so no need to spend $45 billion just for that. He is an eccentric billionaire manchild and I don't buy all that bs about freedom of speech (I do hope that I am wrong there and that he changes some things) but he ain't stupid.

My guess is that his plans are much bigger than shilling some shitcoins as he mentioned earlier about wanting to create "everything app" and that having Twitter userbase would speed up the process for 3-5 years. WeChat is sort of app for everything as its been massively used in China for payment, chatting, gaming etc so maybe he wants to create something like that. Unless of course he gets bored soon and just resells Twitter in the future which is entirely possible knowing how unpredictable he can be.

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Quote from: Lucius on October 28, 2022, 10:08:20 AM

Quote

Why exactly did Elon want to buy Twitter?

He bought Twitter so that he could easily shill shitcoins, isn't that more than obvious Roll Eyes

I don't think that such an unstable man who often changes his mind is a good choice to be the owner of any such influential social network, but I also think that he, like any other spoiled child, will throw away that toy sooner or later. All this nonsense about media freedom is just nonsense, especially if he restores the profiles of those who incited violence and are responsible for the deaths of people who are direct victims of that violence.

With how Elon already affected the masses previously when it comes to shilling any memecoins which unfortunately has been very effective. Owning twitter now will surely boost and will be much easier for him to do. However, there seems to be much more agenda behind him buying Twitter. He already fired some of the executives of Twitter and just as Don Pedro Dinero said, it might be a political agenda.

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Quote from: Maidak on October 28, 2022, 10:05:02 AM

Quote from: Inwestour on October 28, 2022, 08:54:24 AM

Quote from: KaliLinux on October 28, 2022, 08:00:46 AM

So does this mean Elon Musk can even tweet whatever he wants and influence the market since he is the owner of the platform now without someone censoring him Huh

Because I believe maybe before now that would have happened if he posted something that might be inappropriate for the market or seen as trying to manipulate the market.

If I'm not mistaken, then Elon Musk became the owner of Twitter, but even if he was not its owner, he still would not have the right to manipulate the market with his tweets. Although we have already seen him do this more than once, and no one reacted to it in any way, which may be a signal for him that he will go unpunished for this. I don’t know what this deal can change, but for now everything remains as it was, it’s just another toy for a rich person.

We still don't know what his purpose is to buy Twitter but speaking of him using Twitter to manipulate the market I don't think so. He did it before and was soon discovered by everyone and if he continued to do so, not only would he get nothing but his reputation would also suffer.

Certainly the acquisition of twitter is not for the purpose of the crypto market, but it is reported that binance also contributed 500 million to Elon in this deal. With this news, I think it will be good news for crypto in the future as CZ is one of the most influential people in the crypto space.

the man doesn't really have interest in politics, he is already rich. but he explained it that twitter is important as it will serve as the digital town square for democracy to implement. and sure he has plans to make BTC or doge on twitter like the plan they have with previous twitter owner.

i've read it somewhere, its kinda funny theory that he was pushed to spend billions to save the particular people to send to Mars if nuclear war will happen. seem not happening now and his project postponed. so he is fighting back. i wanted to see a twist to this story if there is just a movie for it. yip its a crazy story only a methhead can come up.

Topic: Why exactly did Elon want to buy Twitter? - page 4. (Read 1026 times)