Forex Analysis & Reviews: 26.04.2022 - Elon Musk will buy Twitter...

26.04.2022 06:07 PM

Elon Musk will buy Twitter for $ 44 billion – is it good or bad?

As it became known, Tesla CEO Elon Musk will become the next owner of Twitter, paying about $ 44 billion for it. Now users are wondering how he will fulfill his promises to develop new functions by opening his algorithm to the public. Musk also recently announced that he plans to make the most honest social network with freedom of speech - and this scares investors very much. In a press release, it was noted that "authentication of all users" will be carried out in the near future. What exactly Musk meant by this phrase is still unclear.

Some experts who have studied content moderation and researched Twitter for years have expressed doubt that Musk knows exactly what he is getting into. Now many fairly young startups are focused on freedom of speech, and why it was necessary to pay so much money for an established social network is unknown.

There are also a lot of questions about who were those other bidders who never appeared in public. This suggests that other potential buyers have found Twitter too difficult to improve. Given that the social network is no different from many other platforms that have appeared in the last ten years, most likely, it will be quite difficult for Musk to upgrade it with innovations.

Musk's approach to non-interference in content moderation is already causing many users to fear that the platform will become more of a haven for disinformation, hate speech, and bullying, which moderators have been diligently resisting lately. Wall Street analysts say that if Elon goes too far, it may even alienate potential advertisers.

After confirming the purchase of the social network, shares of Twitter Inc. rose more than 5% on Monday, to $ 51.70 per share. Since the news that Musk was interested in Twitter, the stock has risen by more than 30%. As noted above, Musk recently called himself an "absolutist of freedom of speech," but many remember him blocking other Twitter users who ask him inappropriate questions or disagree with him. We will find out how the Twitter history will be written very soon.

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