The news that is buzzing worldwide today is – Elon Musk’s purchase of one of the most popular social media platforms-Twitter. Investing in a $44 billion agreement, the CEO of Tesla has also given out a statement – “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.”
In simple words, he thinks that Twitter is no longer serving as a platform for “free speech”, and this is what he wants to change.
Musk has stated that he wants to promote free and open speech on the service, which he considers a critical platform for exchanging ideas. After announcing his candidacy, he gave a TED Talk interview in which he elaborated on some of his ideas.
He believes it’s vital that there be an inclusive venue for free speech. So, people need to have both the reality and the idea that they are allowed to express themselves freely in a lawful manner on social media platforms like Twitter.
However, there was no clue to the people that something like this would happen. The deal that was uncertain until the last week accelerated over the previous weekend itself when Musk successfully convinced the shareholders with his detailed financing offer.
Well, it was believed that Poison Pill would prevent Musk from raising more stake in the company without negotiating it with the board members. However, the deal happened and terminated the platform’s run as a public company. Twitter had officially announced that it would become a private company as soon as the deal is sealed.
Critics of Musk’s idea have raised concern that he will enable extremist content on the site, which Twitter and other social media companies are still struggling to eliminate. He said that Twitter should be “cautious” regarding permanent bans, saying he preferred time-outs.
He believes we should err on the side of allowing speech to exist if in doubt. It’s up to you to decide whether or not to delete the tweet if it falls into the “grey area.” However, in a situation where there are a lot of controversies, you’re not trying to advertise that tweet. He reiterated that the goal of his transaction was not to make money for himself. For the future of civilization, he believes strongly in the need to have a public platform where trust and inclusiveness are as high as possible.
With Twitter in his hands, we look at what Elon Musk plans to do with it.
Parag Agrawal, the CEO of Twitter, tweeted that “Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important”, adhering to the incident.
With a lot of analysis by different people on the actual intent of Musk, it is believed that he aims and promises to reduce censorship on the platform. He also added that all of his strongest critics would be allowed to use Twitter as that is what the concept of free speech swears by. We cannot ignore that there is even a higher degree of uncertainty and, of course, speculations regarding the platform’s functioning.
Jack Dorsey, the co-founder of Twitter and a vital board member, has also expressed his belief in Musk, but at the same time, he does not think that “anyone in person should own or run Twitter”.
Meanwhile, Musk has repeatedly said that he wants to improve Twitter with the help of new features opensource algorithms, thereby increasing users’ trust and authenticating profiles on the platform.
- Release An Edit Button: There are various opinions about whether Twitter should include an edit option or not. No matter what side of the issue you’re on, it is pretty impossible to refute that there are ways that the micro-blogging site can integrate an edit feature, just like numerous other platforms, when Musk had put out a tweet asking if users wanted an edit ‘button,’ over 4 million users responded, with almost three quarters responding with a yes.
- Open Up Twitter’s Algorithm: All social media sites should open-source their algorithms, Musk has said for a long time. He thinks that people will be able to see how algorithms impact the information they consume, but they will also be able to pick the algorithm that affects the content they are fed him. This will be one of his most important efforts at Twitter, notwithstanding his vagueness about what an open-source Twitter would entail.
- Get Rid of Ads: There will be no adverts on Twitter, as well, on April 9th,” Tesla CEO Elon Musk tweeted. If Twitter relies on advertising money to stay afloat, companies have a much more ability to influence public policy.” Since then, Musk has removed the offending tweet from his account. Additionally, there is a significant probability that he would continue to provide services such as the $3/month Twitter Blue. To get more people to join Twitter Blue, he plans to introduce a few additional features.
- Eliminate Bots & Crypto Scam: Elon Musk has been an outspoken advocate when it comes to cryptocurrency and other alternative monies. Yet he was key in getting Tesla, one of the first popular automotive firms to accept crypto payments, despite Bitcoin and Ethereum mining being incredibly harmful to the environment. Contrary to popular belief, most Tesla engineers think that cryptography’s high energy needs are incompatible with the company’s mission.
We will learn more about his intentions with time. However, there are two significant reactions people are making to this, many of them are criticizing the move, and many of them are still helpful. Ironically, Twitter, a board for debate, has become a topic of discussion with its new ownership.