The note is a shift from Musk’s position that Twitter is unfairly infringing on free speech rights by blocking misinformation or graphic content, said Pinar Yildirim, associate professor of marketing at the University of Pennsylvania’s Wharton School.īut it’s also a realization that having no content moderation is bad for business, putting Twitter at risk of losing advertisers and subscribers, she said. But on Thursday, he assured advertisers he wants Twitter to be “the most respected advertising platform in the world.” Musk has previously expressed distaste for advertising and Twitter’s dependence on it, suggesting more emphasis on other business models such as paid subscriptions that won’t allow big corporations to dictate policy on how social media operates. He continued: “There is currently great danger that social media will splinter into far right wing and far left wing echo chambers that generate more hate and divide our society.” “The reason I acquired Twitter is 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,” Musk wrote in an uncharacteristically long message for the Tesla CEO, who typically projects his thoughts in one-line tweets. The message appeared to be aimed at addressing concerns among advertisers - Twitter’s chief source of revenue - that Musk’s plans to promote free speech by cutting back on moderating content will open the floodgates to more online toxicity and drive away users. In his first big move earlier on Thursday, Musk said that he is buying the platform to help humanity and doesn’t want it to become a “free-for-all hellscape.” After she was fired, the harassment on the platform began again. A wave of harassment of Gadde from other Twitter accounts followed, including racist and misogynistic attacks, in addition to calls for Musk to get rid of her. Musk privately clashed with Agrawal in April, immediately before deciding to make a bid for the company, according to text messages later revealed in court filings.Īround the same time, he publicly criticized Gadde, the company’s top lawyer, in a series of tweets. Both people insisted on anonymity because of the sensitive nature of the deal. The people familiar with the deal said Musk has fired CEO Parag Agrawal, CFO Ned Segal and Chief Legal Counsel Vijaya Gadde. He strolled into the company’s San Francisco headquarters Wednesday carrying a porcelain sink, changed his Twitter profile to “Chief Twit,” and tweeted “Entering Twitter HQ - let that sink in!” Musk has been signaling more recently that the deal is going through. The New York Stock Exchange notified investors that it will suspend trading in shares of Twitter before the opening bell Friday in anticipation of the company going private under Musk. He has complained about restrictions on speech on the platform - but then vowed he wouldn’t let it become a “hellscape.” And for months it wasn’t even clear if he wanted to control the company at all.Īfter Musk signed a deal to acquire Twitter in April, he tried to back out of it, leading the company to sue him to force him to go through with the acquisition.įriday’s deadline to close the deal was ordered by the Delaware Chancery Court in early October. He has criticized Twitter’s dependence on advertisers, but made a statement Thursday that seemed aimed at soothing their fears. Twitter’s users, advertisers and employees are parsing Musk’s every move in an effort to guess where he might take the company - but the mercurial tech executive has not made the job easy. Late Thursday, Musk tweeted, “the bird has been freed,” a reference to Twitter’s logo. A Delaware judge had ordered that the deal be finalized by Friday. The people wouldn’t say if all the paperwork for the deal, originally valued at $44 billion, had been signed or if the deal had closed.
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