After months of going back and forth and calling each other names, Elon Musk and Twitter have finally signed the deal to complete Twitter’s acquisition. Musk now officially owns the micro-blogging site. However, one question many people have and still haven’t gotten an answer to is why. Why did Elon Musk buy Twitter?
People close to the ‘techno king’ have often revealed that Twitter will be the stepping stone upon which Musk will create his “everything” app or a super platform called ‘X.com.’ While that may be true, Musk did not need to acquire the platform to create his excellent app.
Soon after taking over Twitter, Elon Musk put out a Tweet clarifying why exactly he bought Twitter in the manner he did. One thing to note is that more than the platform users, Musk addressed the people he thinks matter – the advertisers.
Musk’s appeal comes because there is a fear that now that he owns the platform, it will turn into a cesspool of free-for-all commentary and that many people with extremist views may have a free run on it. Such a platform is sure to put off advertisers, and there is a risk that with Musk as the boss of Twitter, many advertisers may leave the forum.
“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,” he writes. “That is why I bought Twitter. I didn’t do it because it would be easy. I didn’t do it to make more money. I did it to try to help humanity, whom I love. And I do so with humility, recognizing that failure in pursuing this goal, despite our best efforts, is a very real possibility.”
Musk continued, saying
“In the relentless pursuit of clicks, much of traditional media has fueled and catered to those polarized extremes, as they believe that is what brings in the money, but, in doing so, the opportunity for dialogue is lost.”
He goes on to say,
“That is why I bought Twitter. I didn’t do it because it would be easy. I didn’t do it to make more money. I did it to try to help humanity, whom I love. And I do so with humility, recognizing that failure in pursuing this goal, despite our best efforts, is a very real possibility. That said, Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences! In addition to adhering to the laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences, just as you can choose, for example, to see movies or play video games ranging from all ages to mature.”
Musk also added,
“I also very much believe that when done right, advertising can delight, entertain and inform you; it can show you a service or product or medical treatment that you never knew existed but is right for you. For this to be true, it is essential to show Twitter users advertising that is as relevant as possible to their needs. Low-relevancy ads are spam, but highly relevant ads are content! Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise. To everyone who has partnered with us, I thank you. Let us build something extraordinary together.”
Musk’s note on why he acquired Twitter gives us an insight into what exactly his plans are for Twitter. While he may be contemplating unrestricting certain users and getting them back on the platform, he is wary that certain advertisers may not be comfortable with a social media company that gives a platform to specific controversial figures.
Moreover, Musk’s note indicates that he will be changing how Twitter deals with advertising and envisions making ads more engaging and interactive with the right users. It will be interesting to see what policy changes Musk makes, especially when we consider advertisers on Twitter.