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You’ve probably heard by now that Twitter has been acquired by Elon Musk. If not, that must have been a long nap. In a deal that’s been brewing for weeks, entrepreneur and investor Musk finally sealed the deal at $54.20 a share. It’s being hailed as the biggest acquisition in the tech industry ever in terms of impact and cultural relevance. Despite being told by the bosses that jobs will be safe for at least the next 6 months while the take-over is ironed out, the Twitter office is understandably in a frenzy.

What does he want to achieve?

Musk has released a statement saying “I want to make Twitter better than ever by enhancing the product with new features, making the algorithms open-source to increase trust, defeating the spam bots, and authenticating all humans.”

So, it looks like free speech in the market square is the main reason behind the purchase. Musk has already clarified that he’s not bought the platform for any financial reasons. A “public platform maximally trusted and broadly inclusive, is extremely important to the future of civilisation”, and that’s what he intends Twitter to be.

The Good

Twitter co-founder is happy. When talking about Musk in a statement released yesterday, Jack Dorsey says that he “trusts his mission to extend the light of consciousness”. Dorsey is also set to make $928m from the deal which might help put a smile on his face.

Musk wants to open source the social media platforms algorithms to increase trust and purge the platform of the well documented spam bots, claiming “we will defeat the spam bots or die trying”. This would be a big victory for those who champion free speech.

The Bad

The staff aren’t happy. There’s an apprehensive vibe coming from Twitter HQ – not surprising when a currently progressive and thoughtful company gets bought out by Musk, who is known for his aggressively outspoken rhetoric.

There is also the worry that with free speech comes the return of the discriminatory and racist language that Twitter has worked hard to regulate and eradicate. Speaking of which, with the plans to reverse moderation and bans, former president Trump will also be allowed to re-join, although he’s stated previously that he wouldn’t go back. Instead, he’s set to continue with his own newly launched social channel Truth Social despite it being plagued by embarrassing technical hiccups.

To conclude

Musk looks set to become a human version of Amazon with his fingers in all the pies. Whether he regrets taking on the tough job of running Twitter is yet to be seen. It looks great for him on paper – purchasing the service of choice for the last US president definitely makes a statement to the super rich, and who knows how the Twitter algorithms will be able to benefit his SpaceX plans.

This is just the beginning of what looks set to be an epic saga, so grab some popcorn and pull up a comfy chair.

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