Elon Musk says Twitter cannot become a ‘hellscape’ under his ownership and should be ‘warm and welcoming to all’ after he confirms $44b acquisition – and staff fear he’s about to wield the ax
- Elon Musk confirmed on Thursday that he has bought Twitter ahead of a court-imposed deadline to seal the $44billion takeover
- He sent a tweet to advertisers confirming the deal
- The Tesla CEO shared that there ‘has been much speculation about why I bought Twitter, and what I think about advertising. Most of it is wrong’
- He then went on to write that he wants Twitter to be a ‘digital town square’
Elon Musk warned advertisers on Thursday that Twitter cannot become a ‘hellscape’ under his ownership as he confirmed that his $44billion takeover of the company has moved forward.
The Tesla CEO sent a tweet to advertisers Thursday morning, saying that while he wants the social media giant to become a ‘digital town square’ it ‘obviously cannot become a free-for-all hellscape, where anything can be said with no consequences.’
The tweet comes just one day after the billionaire changed his Twitter profile to identify himself as the ‘Chief Twit’ and posted a video of himself walking into the company’s San Francisco headquarters carrying a porcelain sink.
‘Our platform must be warm and welcoming to all,’ he wrote to the advertisers Thursday, ‘where you can choose your desired experience according to your preferences, just as you can choose, for example, to see movies or play video games ranging from all ages to mature.’
He added that he ‘very much believes that advertising… can delight, entertain and inform you,’ saying that when done properly, advertising ‘can show you a service or product or medical treatment that you never knew existed, but is right for you.
‘For this to be true, it is essential to show Twitter users advertising that is as relevant as possible to their needs,’ the 51-year-old billionaire concluded in his letter, adding: ‘Low relevancy ads are spam, but highly relevant ads are actually content!’
Musk later agreed with a rapper on the platform, Zuby, who suggested that Twitter should ‘find a way to compensate’ monetize or partner ‘with its top creators, like every other social media app.’
‘Absolutely,’ the SpaceX founder wrote in response.
Elon Musk confirmed on Thursday that he has bought Twitter ahead of a court-imposed deadline to seal his $44billion takeover of the company
Musk also revealed his ‘motivation’ for buying the company in the open letter to advertisers, writing: ‘There has been much speculation about why I bought Twitter and what I think about advertising. Most of it is wrong.’
He said he acquired the company ‘because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence.’
But, the 51-year-old billionaire wrote, ‘much of traditional media has fueled and catered’ to either the far right or the far left ‘as they believe that is what brings in the money, but in doing so, the opportunity for dialogue is lost.
‘That is why I bought Twitter,’ Musk wrote. ‘I didn’t do it because it would be easy. I didn’t do it to make more money. I did it to try to help humanity, whom I love.
‘And I do so with humility, recognizing that failure in pursuing this goal, despite our best efforts, is a very real possibility.’
Shares of the company are now trading at $53.97, up more than 1 percent from just the day before.
But shares of Twitter Inc. are expected to be suspended on Friday as Musk’s $44billion takeover is completed.
Meanwhile, Twitter staff remained on edge Thursday, one day after Elon Musk marched into the social media giant’s San Francisco headquarters.
He was later pictured speaking with some employees, reportedly denying rumors that he is culling three quarters of the staff.
But that did little to assuage the more than 7,500 employed by the social media giant.
As one Twitter employee wrote in an anonymous essay for Business Insider, those who remain at the company are worried about the Tesla CEO’s volatility.