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Elon Musk on Friday announced the end of a $44 billion bid to buy the microblogging site Twitter, citing a failure to provide adequate information about the number of fake accounts.
According to AFP, Musk’s lawyer Mike Ringler took to Twitter to complain that his client (Musk) had been waiting nearly two months to find data on “fake or spam” accounts on the social media platform. Today we look at the timeline of events from Musk announcing the Twitter acquisition to its closing.
After Musk acquired Twitter for around $44 billion with shares valued at $54.20, the tech entrepreneur has commented extensively on what he intends to do with the social platform.
In a filing with the US SEC, Musk wrote: “I invested in Twitter because I believe in its potential to become a platform for free expression around the world and I believe that freedom of speech is a social imperative of a functioning democracy,” he added. “Twitter has extraordinary potential. I’ll unlock it.”
Musk’s “free speech” fiasco.
Musk tweeted his stance on free speech, there was speculation that he would allow hate on Twitter in the name of free speech. However, the technical director clarified that he is against any censorship that goes far beyond the law.
“The extreme antibody response of those who fear freedom of speech speaks volumes. By “freedom of speech” I mean simply that which conforms to the law. I am against censorship that goes far beyond the law. If people want less freedom of speech, they will ask the government to pass laws to that effect. Therefore, going beyond the scope of the law is contrary to the will of the people,” he wrote on his Twitter.
The CTO wanted to make Twitter fun for everyone. He also posted that Twitter “needs to be politically neutral” to regain “public trust”. “The far left hates everyone, including themselves! But I’m not a supporter of the far right either. Let’s have less hate and more love,” he tweeted.
Paying for Twitter
The billionaire also planned to monetize the platform. He said on Twitter that while the platform will always be free for casual users, it may be slightly expensive for “commercial/government users”.
In May, Twitter offered Musk access to raw data on hundreds of millions of daily tweets, according to multiple reports, though neither the company nor Musk have confirmed this.
In June, Musk talked about his takeover of Twitter for $44 billion in an interview with Bloomberg News editor-in-chief John. He warned that there are a number of challenges to getting accurate measurements from robots.
Musk said: “The share of fake, spam and bot accounts in the service is still a very significant issue … and of course there is the question of whether the debt part of the round will come together and then shareholders will vote yes. .”
Closing the deal
Musk terminated the agreement, saying that Twitter violated several provisions of the agreement. This includes more than 5% bots and the failure to provide data on the layoffs of some executives and recruiters. Meanwhile, Twitter’s chairman is taking legal action against Musk to enforce the deal.