Elon Musk eventually buys Twitter to build his own social network

news hardware Elon Musk eventually buys Twitter to build his own social network

We thought the legal battle would be between Twitter and Elon Musk, but it seems things are different. After announcing the billionaire’s proposal, he explains in a little more detail what he will do with the social network.

Twitter wins the case and Elon Musk pays

We spoke this Wednesday about Elon Musk’s U-turn in taking over Twitter. To everyone’s surprise he decided to avoid the trial and complete the takeover. If we don’t yet know the underlying reasons for this sudden change, we can speculate about certain hypotheses.

In a summary tweet, the social network announces Elon Musk’s marriage proposal at an initial price of $44 billion. So we can read:

We have received the letter that Musk’s parties have filed with the SEC. The company intends to close the transaction at $54.20 per share.

Eventually, the billionaire will have to put his hand in his wallet and will not be able to escape. His goal now is that there is no trial and things get resolved as soon as possible. The hearing date is still set for October 17.no new information about it.

Twitter is on the verge of a revolution

The main hypothesis of the turnaround is Musk’s desire to create his own ultra-libertarian social network. But it takes time and the audience doesn’t fall from the sky, even for the most influential billionaire in the world.

The day after Twitter’s announcement, Elon Musk released a tweet declaring, “Buying Twitter is an accelerator to build X, the app for everything.” What he meant by “applying everything” became already more or less explained before.

What he calls “X” is an obvious reference to his ex-company X.com, which became PayPal and was resold shortly thereafter. It was society that made his fortune, and he intends to pay homage to it. For what’s inside. We know he wants to see a Twitter with the features of the Chinese social network WeChat.

Beyond the social aspect, a whole ecosystem of services would emerge. In particular, we would find a payment service. This is reminiscent of the origin of his wealth at PayPal.

In a conference with Twitter employees last June: “They essentially live off WeChat in China. If we can replicate that with Twitter, we will have great success.” It is very likely that at this point he already envisioned honoring the acquisition agreement. Even if that didn’t stop him from continuing to talk bad about the social network. A paradox that could have cost him a lot of money if the case had gone to court.

In response to his tweet presenting his social networking service, a user asks him if it wouldn’t be easier to create the platform directly. Elon Musk replied that this should save him three to five years of development, although he wasn’t sure himself.

In the end, it’s a great masquerade that Elon Musk and Twitter played on us this year 2022. Closing is near, even if nothing is certain. The billionaire certainly seems poised to create his own social multiservice like WeChat.

Leave a Reply

Your email address will not be published. Required fields are marked *