On May 13, billionaire Elon Musk finally announced that he was hesitant to buy Twitter. The case that is discussed, the social network is in trouble. This Friday the 13th could very well be economic drama for the Little Bird brand.
Dramatic economic downturn
11%: This is the percentage loss in action on Twitter generated by Elon Musk today. Indeed, Twitter’s market value has shrunk by several billion dollars. However, the contract between the Twitter board of directors and Elon Musk obliges the latter to pay $ 1 billion in the event of its termination.
According to Dan Ives of Wedbush Securities, Elon Musk’s latest tweet “will turn the Twitter takeover circus into a Friday the 13th horror movie.” With a desire to reduce spam and fake accounts, Mr. Musk wants the social network to have less than 5% fake accounts.
Strategy and total freedom
Tesla’s exchange rate lost 29% of its value in a month, this has a direct impact on the state of E. Musk. Putting forward an argument about checking the percentage of fake profiles and then suspending the purchase of twitter could be seen as disproportionate or as a pretext.
Wanting to buy Twitter, Elon Musk explains that he wants to reduce spam, fake profiles, etc. At the same time, he wants to establish complete freedom on the social network. With a project to restore Donald Trump to the platform in the name of free speech. A large number of users say they want to unsubscribe if Elon Musk makes a takeover.
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