Elon Musk and Twitter Reach Deal for Sale (1 Viewer)

[SaintForLife]

Elon Musk struck a deal on Monday to buy Twitter for roughly $44 billion, in a victory by the world’s richest man to take over the influential social network frequented by world leaders, celebrities and cultural trendsetters.

Twitter agreed to sell itself to Mr. Musk for $54.20 a share, a 38 percent premium over the company’s share price this month before he revealed he was the firm’s single largest shareholder. It would be the largest deal to take a company private — something Mr. Musk has said he will do with Twitter — in at least two decades, according to data compiled by Dealogic.

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Mr. Musk said in a statement announcing the deal. “Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”

The deal, which has been unanimously approved by Twitter’s board, is expected to close this year, subject to a vote of Twitter shareholders and certain regulatory approvals.

The blockbuster agreement caps what had seemed an improbable attempt by the famously mercurial Mr. Musk, 50, to buy the social media company — and immediately raises questions about what he will do with the platform and how his actions will affect online speech globally.

Elon Musk and Twitter Reach Deal for Sale

Twitter agreed to be taken over at $54.20 a share, a 38 percent premium over the share price before it was revealed that Mr. Musk had been buying up the company’s stock.

www-nytimes-com.cdn.ampproject.org

If Musk does what he claims he wants to do it will be a big improvement and good for free speech.

 

[UriUT]

all the Twitter links here are dead to me. anyone have that issue?

 

[UriUT]

Threads is the number 2 downloaded app this week and top 5 over the last month. X is 96th and Apple only publishes the top 100.

Whatever happens with X will happen - but I do think Elon misunderstood what Twitter was and what he could do with it from day 1. I commented, particularly on the SR thread about it, that Musk's comments and stated plans seemed to indicate to me that he didn't understand what Twitter really was for the vast majority of users, including how and why they used it. I think his understanding of Twitter was based on how it appeared to him as a user and what he heard about it from what we know now is a fairly small, viewpoint-specific community.

But a social media site like Twitter/X doesn't own anything that drives its success. The sole driver of its success is one metric: do people actually want to be there? If they don't, they won't and the site will enter a death spiral because user counts (daily active being the most prominent metric) drive everything about the business.

It isn't like companies that create products and hold patents - such that a turn in social sentiment about a company like Apple, for example, or even something like Chick-Fil-A will be existentially harmed by . . . people really like those products based on their quality or place in their segment as a matter of the product, distinct from sentiment about the company. But in social media, there are alternatives and as Meta has shown, creating a new one wasn't particularly challenging - no social media site can simply presume that it holds some kind of position that transcends user sentiment. User sentiment about the site is everything.

Musk has shown very little concern about user sentiment - or at least chose to align himself with the sentiment of one kind of user that isn't mainstream. Early on he began to dismantle the features of Twitter that formed the backbone of what appeared to me at least to make the site a mostly reliable, mostly enjoyable site (provided that the user spent some time curating their experience with the algorithm. And it only got worse, and worse . . . and these things happened before he doubled-down on his "this is free speech deal with it pussies!" approach.

But as more and more users looked for an alternative, an alternative became more likely - the spiral began in earnest. Advertisers and other large organizations may have decided to pull their activity from X based on certain specific issues (such as inflammatory content routinely posted by the site's owner) but they will stay away because there's no value there anymore. The user base is steadily eroding, making it less and less important for anyone to be there. Perhaps those who remain will be support their own X ecosystem, who knows. Or perhaps Elon's plan all along will have some value that I'm just not seeing.

Otherwise, it's remarkable how quickly everything changed - but at the same time, it isn't. It's the very nature of social media.

In addition, because twitter does not create their own content, and must rely on its users, it needs to incentivize those users to create worth while content. Twitch and YouTube pays their content creator. They reward their most successful with prizes and distinction. They hold conventions celebrating those content creators. Twitter before Musk didn't even pay content creators. Those people felt it a mission to broadcast their thoughts to the world pro bono. The only social media I know that uses the subscription model is Discord. It is free for basic use, but if you pay a fee you may have your own community and certain benefit like streaming servers...as you point out, real proprietary service. It does not, ever, shat on their users. Musk believes Twitter is a privilege, and therefore, content creators/users must pay him, when it should be the other way around. Further importance, the content creators expects certain protection and safety, and he provides them with none. This isn't the government that is desperate for services like starlink in ukraine, rockets to low orbit that they deemed unworthy of their focus currently, or EV. He cannot coerce users and content creator who have alternative choices. I don't think his authoritarian world views can understand nor cope with this economic reality.

 

[SaintForLife]

And yet Elon (and Saacks) keep toting Kremlin line. ( In replies, Elon says " your assessment is correct imo" )

George, is that you?

Bush: 'You Are Either With Us, Or With the Terrorists' - 2001-09-21

.

www.voanews.com

 

[SaintForLife]

We need to check with Media Matters and see if this would constitute a campaign to get advertiser to stop advertising on Facebook and Instagram.

Facebook and Instagram content enabled child sexual abuse, trafficking: New Mexico lawsuit

Meta enabled child sexual abuse, served up explicit content, and failed to disrupt trafficking on its platforms, New Mexico's attorney general said in a suit.

www-cnbc-com.cdn.ampproject.org

I wonder why the advertisers don't care about this and continue to advertise on Facebook & Instagram?

 

[Bigdaddysaints]

ever notice how all your "evidence" comes from Twitter while defending Twitter and going after Facebook? while none of us here gives 2 craps about Facebook. none of us here are Zuck fan boys like you are a Musk Fan boy.
but i have no doubt Zuck will address this legally whether it's true or not instead of doubling down and giving them poop emojis as a response..

 

[Optimus Prime]

The social media platform X, formerly Twitter, is being investigated for allegedly breaking EU law on disinformation, illegal content and transparency, the European Commission has announced.

The decision to launch formal infringement proceedings against the company, owned by the US billionaire Elon Musk, comes weeks after X was asked to provide evidence of compliance with new laws designed to eliminate hate speech, racism and fake news from platforms in the EU.

Under the Digital Services Act, which came into force in August, a company can be fined 6% of its global income or be banned from operating across the EU if it is found to have breached the law.

Thierry Breton, the EU commissioner in charge of enforcing the DSA, confirmed the investigation in a post on Musk’s platform…….

X to be investigated for allegedly breaking EU laws on hate speech and fake news

EU launches proceedings against Elon Musk’s social media platform under new Digital Services Act

www.theguardian.com

 

[SaintForLife]

The social media platform X, formerly Twitter, is being investigated for allegedly breaking EU law on disinformation, illegal content and transparency, the European Commission has announced.

The decision to launch formal infringement proceedings against the company, owned by the US billionaire Elon Musk, comes weeks after X was asked to provide evidence of compliance with new laws designed to eliminate hate speech, racism and fake news from platforms in the EU.

Under the Digital Services Act, which came into force in August, a company can be fined 6% of its global income or be banned from operating across the EU if it is found to have breached the law.

Thierry Breton, the EU commissioner in charge of enforcing the DSA, confirmed the investigation in a post on Musk’s platform…….

X to be investigated for allegedly breaking EU laws on hate speech and fake news

EU launches proceedings against Elon Musk’s social media platform under new Digital Services Act

www.theguardian.com

 

[SaintForLife]

ever notice how all your "evidence" comes from Twitter while defending Twitter and going after Facebook? while none of us here gives 2 craps about Facebook. none of us here are Zuck fan boys like you are a Musk Fan boy.
but i have no doubt Zuck will address this legally whether it's true or not instead of doubling down and giving them poop emojis as a response..

I'm pointing out that the advertisers that are supposedly worried about Nazi/antisemitism content on X, but exploitation of children including sexual abuse and child trafficking don't worry the advertisers enough to stop their advertisements on Facebook & Instagram.

The only companies to resist the censorship goons are X and Rumble and are the main two companies targeted by the left wing pressure campaign against the advertisers. Zuckerberg caved to those censorship goons so they look the other way on the sexual abuse of children and child trafficking in regards to advertisers.

 

[SystemShock]

I'm pointing out that the advertisers that are supposedly worried about Nazi/antisemitism content on X, but exploitation of children including sexual abuse and child trafficking don't worry the advertisers enough to stop their advertisements on Facebook & Instagram.

There's all sorts of illegal activity in all platforms, including XTwitter. The difference is, those conducting illegal activities do so covertly, not openly like Nazis/antisemites.

The only companies to resist the censorship goons are X and Rumble and are the main two companies targeted by the left wing pressure campaign against the advertisers.

But they are not. You cannot tell me, with a straight face, that Musk is not censoring content. Well, you have been proven to be so insincere, perhaps you can.

 

[SaintForLife]

There's all sorts of illegal activity in all platforms, including XTwitter. The difference is, those conducting illegal activities do so covertly, not openly like Nazis/antisemites.

Oh okay.

But they are not. You cannot tell me, with a straight face, that Musk is not censoring content. Well, you have been proven to be so insincere, perhaps you can.

The government pressuring social media companies to censor people is illegal and it shouldn't be happening.

Without the government pressuring the social media companies it's not illegal and can happen according to their terms of service.

 

[SystemShock]

Oh okay.

What, you didn't know that XTwitter is also full of child exploitation, drugs, etc.? Well, now you know.

The government pressuring social media companies to censor people is illegal and it shouldn't be happening.

Without the government pressuring the social media companies it's not illegal and can happen according to their terms of service.

So when your champion of free speech does it, is cool... what about DeSantis in FL? Sanders in AR? Abbott in TX? They are government. They are not only censoring speech and facts, they are using the weight of the government to actually punish people and corporations, while spreading misinformation and trying to rewrite history. Where are your walls of Xtweets against those?

 

[SaintForLife]

What, you didn't know that XTwitter is also full of child exploitation, drugs, etc.? Well, now you know.


So when your champion of free speech does it, is cool... what about DeSantis in FL? Sanders in AR? Abbott in TX? They are government. They are not only censoring speech and facts, they are using the weight of the government to actually punish people and corporations, while spreading misinformation and trying to rewrite history. Where are your walls of Xtweets against those?

If our government is pressuring social media companies to censor people's online posts that's against the 1st ammendment. If the government isn't involved then it isn't a 1st ammendment issue. You know that despite your silly claim about Musk censoring.

DeSantis, Abbott, and Sanders have been pressuring social media companies to censor people's social posts? I'm not aware that they have. Can you post a link?

 

[MT15]

DeSantis, Abbott, and Sanders have been pressuring social media companies to censor people's social posts? I'm not aware that they have. Can you post a link?

See, you have twisted his words. Reread what he said - he didn’t say what you just said. Do you do this on purpose?

 

[SystemShock]

If our government is pressuring social media companies to censor people's online posts that's against the 1st ammendment. If the government isn't involved then it isn't a 1st ammendment issue. You know that despite your silly claim about Musk censoring.

DeSantis, Abbott, and Sanders have been pressuring social media companies to censor people's social posts? I'm not aware that they have. Can you post a link?

They are not pressuring social media companies, they are enacting laws that censor not just media companies, but people in general, and attack companies for saying things they don't like. Are you really going to tell me you don't know about the laws they are enacting? You should be aware of them. You are either seeing them praised in your right wing hangouts, and they are mentioned on this board as well.

Are you seriously going to tell me you don't know about DeSantis and Disney? Book bans? CRT bans? Don't say gay laws? Pregnant women aren't people? Come on, man. At least be honest with yourself. You don't have to be honest with me, because I see right through you.

 

[Bigdaddysaints]

They are not pressuring social media companies, they are enacting laws that censor not just media companies, but people in general, and attack companies for saying things they don't like. Are you really going to tell me you don't know about the laws they are enacting? You should be. You are either seeing them praised in your right wing hangouts, and they are mentioned on this board as well.

Are you seriously going to tell me you don't know about DeSantis and Disney? Book bans? CRT bans? Don't say gay laws? Pregnant women aren't people? Come on, man. At least be honest with yourself. You don't have to be honest with me, because I see right through you.

but those things are ok because those fit the agenda he likes, so we'll just over look those..

 

[Bigdaddysaints]

I was reading some artiles and when they mentioned X, all of them said X, formally known as Twitter. How long before Musk starts getting mad about everyone still calliing it Twitter? Every single person i know that uses Twitter, not one person calls it X. lol

 

[coldseat]

I was reading some artiles and when they mentioned X, all of them said X, formally known as Twitter. How long before Musk starts getting mad about everyone still calliing it Twitter? Every single person i know that uses Twitter, not one person calls it X. lol

Yeah, I'll call it Twitter for as long as it's around.

 

[Bigdaddysaints]

Yeah, I call it Twitter for as long as it's around.

Just like it'll always just be the Superdome. lol