How was the purchase of Twitter conceived and what is its significance for the world?

The purchase of Twitter was worthy ofSuccession”. On Monday, April 4, Elon Musk reluctantly declared the purchase of 9% of the social network, a figure that assured him to be the largest shareholder. Speculation began: what is the richest man in the world looking for when buying a platform that is not profitable and that, compared to the competition, it is small? On Thursday the 14th she tweeted: “I made an offer”, and put on the table US$54.20 per share. Analysts discussed his possible role on the board and there was speculation about the use of the ‘poison pill’, legalized to prevent Musk from easily taking over the company.

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There were doubts until April 21, when the South African tycoon announced the financial support of Morgan Stanley, Barclays, Bank of America, etc. And as the world gazed in awe at the $44 billion raised, Musk He called the shareholders and convinced them to sell. It was either that or fade. According to the journalist of “The Wall Street JournalLizz Hoffman, at least in the last decade, there hasn’t been a buy as aggressive as Musk’s.

A couple of weeks earlier, Musk spoke at a conference TED Y He assured that he did not buy Twitter to make money. “I just have a strong intuition that having a platform that is public and open to the largest number of people is extremely important for the future of our civilization.”, he assured. In the mouth of the workaholic millionaire – he brags about sleeping too little and working too much – the phrase becomes dubious. Are you lying? The political scientist specialized in political communication Alexandra Morales answer back: “At least in politics, it is understood that behind every decision there is an objective or economic demand. When these types of cases happen, philanthropy becomes blurred.”

“Musk is not engaged in politics, but he does move in that environment. He does it by constantly seeking to be the protagonist and rival Bill Gates in who is the most millionaire on the planet, and attract the attention of donald trumpwho compared it with Thomas Edison and said that he was one of the most important geniuses for the world”.

Morales points out that, to understand the purchase, it is necessary to observe the potential of twitter. “It is mainly the social network with the highest level of political polarization, promoted by troll farms, etc. It is a very controversial social network that is consumed by politicians, the most fervent militants and journalism”.

It is also the informal channel -although sometimes it appears to be the official one- of some presidents. It was Trump’s favorite at the time and is still vital to the Salvadoran President Nayib Bukeleself-defined as the ‘coolest dictator’ of the world.

“Twitter is also considered decisive in winning or losing a presidential election, but I think it’s too much. It has an impact, but it is not the platform with the highest incidence. I also think you have to understand that Musk has not only bought Twitter because it is a millionaire platform, but also because of the information it handles.”.

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A momentous purchase

Musk is a snake charmer, a lover of bombastic phrases that the self-proclaimed protagonists of fairy tales can afford. “I think it’s possible for normal people to choose to be extraordinary.“, has said. Born June 28, 71 in Praetorshipsold PayPalaccumulated wealth, founded Tesla Y Space X -who just sent a new crew to the International Space Station-, but above all, sold the dream of the dreamer who gets what he wants. His name is synonymous with the avant-garde with a hint of controversy -because of the trial between Amber Heard Y Johnny Depp he just found out that she, his 2016 outgoing, never loved him – which humanizes him.

Jimena Valdez, professor at the Department of International Politics at City University London and specialist in digital platformscomments: “Musk has a well-known profile and is said to be an aggressive and conflictive person. That Twitter is in the hands of someone like him, may mean that competition between social networks increases. But he seems unafraid”.

. “He manages Space X Y Tesla, evidence of platform concentration. It would be necessary, then, to think about the crusader power. What will happen when, for example, the chinese government I asked Musk an action in Twitter if you want to keep your operation in your country? What will happen when conflicts of interest occur?

Former US President Donald Trump. REUTERS (GAELEN MORSE /)

Musk has managed to disguise the purchase and has protected it from criticism under the umbrella of freedom of expression. But you have to take the argument with a grain of salt: Twitter does not adjust the strap as much as Instagram either Facebook, which even censor classic nudes, accusing them of being pornographic. Instead, that same content lives in the network of the blue bird that, in parallel, does try to combat disinformation “He understands that free speech is being able to say anything at any time and is vital to democracy, but he oversimplifies America’s problems. It will be necessary to see if he manages to make Twitter more aggressive or if he does not make many changes”.

What is urgent to think about is the importance of buying Twitter. “It shows that we are in the hands of millionaires and that economic power comes with political power. In the United States, from the 1970s until now, there is a great concentration of income in the highest sectors of society. ”.

“And that, effectively, economic power results in political power. This is problematic because, it is assumed, in democracy there is an egalitarian distribution of political power, it is assumed that we all matter the same in those terms. What happens when this is not compatible with economic inequality?”.

what will happen when Twitter leave the stock market and become a private company, ceasing to share relevant information because it is no longer required by law?

In the meantime, Musk follow tweeting phrases that excite -”Let’s make Twitter a lot of fun!- and others that disconcert -”I will soon buy Coca Cola and I’ll put cocaine back on him “-.

Source: Elcomercio