Elon Musk finally reveals why he bought Twitter

In a series of photos shared on Twitter, Elon Musk listed his reasons for buying the fastest growing micro-blogging social platform, Twitter.

“I wanted to personally address you to share my reasons for buying Twitter. There has been a lot of speculation about why I bought Twitter and how I feel about advertising. Most of it was wrong.”

Elon Musk made it clear he was the new boss of Twitter by changing his Twitter bio to “Chief Twit“. Musk insisted that the only reason he was upset about the Twitter acquisition was “because it’s important for the future of civilization to have a common digital public square“, where different beliefs and ideals can be debated and coexist in harmony. But he categorically mentioned that “Twitter obviously cannot become a hell zone where anything can be said without consequences!“.

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Elon Musk’s new take on Twitter

Elon Musk has made it clear that he wants to relax the rules for moderating content on the platform and may even de-banalize former President Donald J. Trump. He also restored confidence in Twitter employees by stating that there were no plans to lay off 75 percent of the staff after taking over Twitter.

Revenue declines on social media platforms

Musk’s Twitter post came at a time when social media platforms are facing a collapse in digital advertising. Meta announced Wednesday that its earnings had fallen more than 50 percent and saw no improvement in the near term. Meta’s stock plummeted more than 20 percent in pre-market trading on the negative news.

“Twitter aspires to be the world’s most respected advertising platform that builds your brand and grows your business. To everyone who has partnered with us, thank you. Let’s build something extraordinary together.”

The New York Stock Exchange said Twitter’s shares will be suspended Friday as Musk must close his $44 billion deal by the Oct. 28 deadline mandated by the honorable court.

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