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Buying Twitter “is not a way to make money,” Musk said in a TED interview

Tesla CEO Elon Musk spoke for the first time since news of his attempts to buy Twitter outright and said his offer was made for the greater good.

Musk stressed that he was motivated by the public value of the platform. “Twitter has actually become a kind of marketplace. So it’s really important that people have both the reality and the perception that they can speak freely within the confines of the law,” Musk said.

Musk spoke at the TED 2022 conference in Vancouver; the interview was open for live stream early today.

When asked why he wanted to buy Twitter, Musk opened with a joke. “I don’t know,” Musk told a live audience. “A little bird chirped in my ear or something.”

To protect this place, Musk said he believes Twitter should “open-source the algorithm” to build trust and ensure uptime. “The code should be on Github for people to look through,” Musk said.

Musk insisted that buying Twitter was not a commercial move for him.

“It’s not a way to make money. My strong intuitive feeling is that having a public platform that is maximally trustworthy and inclusive is extremely important,” he says. “So the future of civilization, but you don’t care about the economy at all.”

The interview began just hours after Musk offered to buy 100 percent of the social media platform for $54.20 per share in cash, valued at around $43 billion. It’s worth around $260 billion corresponding Bloomberg, making him the richest living person in the world. In the interview, Musk says he wants to keep as many shareholders as possible.

Musk previously explained his reasons for the takeover attempt in a letter to Twitter chairman Bret Taylor earlier this morning, in which he said the platform was not fulfilling its potential as a bastion of free speech.

“I invested in Twitter because I believe in its potential to be the platform for free speech around the world, and I believe that free speech is a societal imperative for a functioning democracy,” he says in the letter. “Twitter has extraordinary potential. I will unlock it.”

It’s not yet clear if Twitter’s board of directors will agree to Musk’s offer. The company has accepted Received the unsolicited offer and said the board will “carefully review the proposal to determine what course of action it believes is in the best interests of the company and all Twitter shareholders.” The board reportedly met this morning.

Development…

https://www.theverge.com/2022/4/14/23025343/elon-musk-twitter-takeover-ted-talk-quote-stock-buyout Buying Twitter “is not a way to make money,” Musk said in a TED interview

Fry Electronics Team

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