Decoding Elon Musk’s 9.2% stake in Twitter
Let’s understand this with the help of timeline.
👉 March 26, 2022 tweet, Musk accused Twitter of “failing to adhere to free speech principles”.
👉 And further he said he was giving “Serious thought” to building his own social media platform that would compete with Twitter.
👉 Musk’s tweet back in Jan, 2021 saying “Use Signal” which was later retweeted by former Twitter CEO Jack Dorsey.
👉 Jack Dorsey have constantly came in support for him in the past as well.
👉 March 14, 2022, Elon Musk acquired his 9.2% Twitter stake shown by regulatory filing with the Securities & Exchange Commission.
👉 Musk was already Twitter’s largest outside individual shareholder when he publicly criticized the platform on March 26, 2022.
👉 March 25, 2022, Musk launched a Twitter poll asking this question: “Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?” To which more than 70% of respondents voted “No,”.
👉 April 4, 2022, Elon Musk’s Twitter stake purchase was revealed in a regulatory filing.
👉 April 4, 2022, Twitter stock surged by 27% as Musk’s purchase was revealed & kept climbing after the company announced Musk’s director board seat.
👉 April 4, 2022, Musk tweeted a poll asking his followers if they’d want an edit button on Twitter, with more than 73% of respondents replying “Yes”.
👉 April 5, 2022, Twitter announces Elon Musk as the 12th board of director after taking a 9.2% stake to which Jack Dorsey voiced his support on his tweet. “I’ve wanted Elon on the board for a long time,” Dorsey later added.
👉 April 5, 2022, Musk speaks about his vision of making significant improvements to Twitter in coming months!
👉 Elon Musk could use his new position to push back against the company’s content moderating policies.
👉 In coming months, we are going to see some big changes on Twitter as Musk have constantly criticized the platform for lack of freedom of speech.
👉 Musk has even suggested that Twitter’s algorithm become “open source” as a way of promoting transparency over how the platform displays and promotes tweets. That idea could gain traction among Twitter’s board members, as Dorsey has endorsed it in the past.
👉 Twitter’s rapid addition of Musk to its board shows that now its leadership is willing to entertain his ideas after being single largest individual share holder.
👉 Elon Musk’s entrepreneurial mindset. He is among one the smart entrepreneurs of this century who knows it well, how to get the things done as per his will.
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