Twitter was recently ‘purchased’ by the world’s richest man Elon Musk for $44 Billion and ever since the announcement of the deal with the initial acquisition of 9.2% shares of Twitter, the whole process has been a little chaotic, starting from the time Elon asked to buy it, advocating “Free Speech” and defending Donald Trump against the ban from Twitter.
The whole deal went through the courts as Elon decided not to buy with an offering of $54.20 per share to acquire the micro-blogging site but later agreed to his initial offer, fearing the court and the length of time it may go on, and also the pieces of evidence that could have trashed his claims that became the base for him to withdraw from the deal.
Elon Musk with his current way of running Twitter looks like he is there to take up all the money he could, and leave it as it never happened.
But, why do we say this?
Musk has deeply hurt the morale of the employees through his unique style of laying them off from work, which keeps the existing employees in fear that the “Boss may fire us too,” which remains like a wound in the company, and may remain there for a longer time, if not scratched again.
Musk is possibly the only human who thought of earning from the verification process, which does nothing but take away the credibility of the ‘Blue Tick’ as now, it is available for $8 and can be taken by anyone. The real users of Twitter never craved the Blue Tick but were given it to show the real authenticity of the account.
The advertisers are pulling out from the platform, as the authenticity of the blue tick and the credibility of the whole platform remain vulnerable, and in response, Elon Musk warned the advertisers that those pulling out will be named and shamed in public.
Elon Musk might have seen this deal as little expensive, but the type of cost pulling in times of recession looks like something he wants to get rid off, and recover anything that he might have lost. But, this move will downgrade the credibility of a complete platform and might trash the whole company.
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