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Twitter: Fascinating deal triggers Elon Musk alarm

Tesla founder Elon Musk loves to put the cat among the doves. In that regard, his decision to spend $2.9 billion for a 9.2 percent stake in Twitter — making him the company’s largest shareholder — is a textbook move, Martin Peers said The information; and to add to the fun, “the world’s most talkative CEO” suddenly became quite “shy” about his motivations. “oh hello lol” he tweeted to its 80 million followers as shares in the platform surged 27.1%. Musk recently hinted that he’s interested in shaking up social media to push “free speech.” It was believed he was considering starting his own platform, he noted The times, but he’s now joined the Twitter board. Easy, Founder Jack Dorsey – a friend of Musk’s – is said to be “quitting his seat next month”.

There has been speculation about this Musk’s investment was just “a smart value play” for a stock that’s down 40% over the past year, Lex said in the financial times. His move to the board suggests he may be attempting to create a “meme stock.” In any case, given his online audience and the tendency of previous tweets to get him into “regulatory hot water,” Washington should “sound a Twitter alert” if the richest man in the world invests more capital in this deal.

“Tesla shareholders’ hearts must sink every time Elon Musk takes on a new project,” said Nils Pratley The guard. At the very least, this deal (unlike Tesla’s huge Bitcoin investment) is “with its own money.” Still, using Twitter has the potential to be “a serious distraction from day-to-day work.” Musk’s notoriety has saved itself Tesla a fortune in advertising; but there is little benefit in being “dragged into toxic battles” over the role social media plays in US politics. “Leading the electric vehicle revolution is hard enough without unnecessary detours.”

https://www.theweek.co.uk/business/companies/956354/twitter-intriguing-deal-sparks-elon-musk-alert Twitter: Fascinating deal triggers Elon Musk alarm

Fry Electronics Team

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