After Elon Musk implied that President Biden may stop his attempt to acquire Twitter for £38 billion, the situation became more complicated.
According to a story from yesterday, the US president’s staff are contemplating looking into the agreement for reasons of national security.
The takeover may be evaluated due to its foreign supporters, notably Binance and the China-affiliated cryptocurrency exchange Alwaleed bin Talal, according to Bloomberg, which caused a decline in Twitter share prices.
Additional worries exist over Musk’s business endeavors, such as the Starlink satellite network from SpaceX.
The 51-year-old entrepreneur has recently threatened to quit providing Ukraine with the Starlink satellite service, and his increasingly pro-Russian posture on social media is reported to be upsetting US authorities.
With a wealth of £185 billion, Musk is the richest person in the world. This week, he acknowledged that he had ‘clearly overpaid’ for Twitter.
The South African gave the impression that he agreed with a social media remark that it would be “hysterical” if the US government prevented him from having to purchase the website. He replied to the tweet with a smiling face and the emoji “100%”.
There is “certainly enough smoke for there to be a fire,” according to Wedbush analyst Dan Ives, who added that it is “50-50” if a formal investigation would be opened.
It comes amid claims that Musk would fire three-quarters of Twitter’s 7,500 employees following the acquisition.
Elon Musk might buy Twitter this Week
What will happen to Twitter now that the Elon Musk and Twitter agreement is about to expire? In the back-and-forth that has occurred since the Tesla Technoking submitted his proposal in April, Elon Musk and Twitter have played a significant role in 2022. Free expression, in Elon Musk’s opinion, was a major factor in his decision to buy the platform.
“I believe it is crucial that there be a welcoming environment for free expression. In a recent interview, he said that Twitter has essentially replaced the town square.
It’s crucial for individuals to believe that they may express themselves freely while yet adhering to the rules, he said.
This was evident for Twitter as its problems with bots, child pornography, and shadow banning came into sharper view. Whenever Elon Musk chooses to concentrate on anything, it’s as if a light is shining on that subject. (Even Teslarati was temporarily shadow-forbidden.)
The finish is, however, nearly at hand. that the transaction’s completion is imminent, or at the very least as observed by Business Insider. A court ordered that the two parties must complete the transaction by this Friday, October 28, earlier this month. A trial will be convened if the arrangement cannot be finalized.
What are some things we may anticipate happening on Twitter as Friday approaches? Elon Musk agreed with Vinny Lingham today that Twitter is the only social media platform where one may have a sizable following while receiving little interaction on a tweet.
Lingham said that the feed algorithm “is either intentional and enables censorship (aka “shadowbanning”) or is merely faulty,” adding that he was curious to see if or how Elon Musk will address this issue.
Elon Musk provided a preview of Twitter’s future earlier this month, claiming that the service was a catalyst for X, the all-encompassing app.
According to papers suggesting that both Elon Musk and Twitter had planned to cut the platform’s employment, he intends to shrink the personnel to 2,000. The records state that Twitter intended to reduce its headcount by around $800 million in 2023. The year isn’t finished yet, despite the fact that neither party has yet disclosed any more intentions.
With inputs from Teslarati & Thisismoney