Why is Elon Musk receiving so much criticism for purchasing Twitter?

When Elon Musk said on Friday the thirteenth that his $44 billion attempt to acquire Twitter was put on hold, the bid was halted. Some believed he was withdrawing from the agreement. Others did not comprehend why the transaction was on hold. Twitter’s user base is a component in determining the platform’s worth. If there were fewer users than the estimated 200 million active users, then Twitter’s value might be less than the $44 billion that Musk was ready to spend for it. Musk has stated that one of his primary objectives for Twitter was to verify all users to ensure that no one was operating thousands of bogus accounts and manipulating public opinion through phoney influence. When conservative pundit and host of the Reuben Report, Dave Rubin, recently noted that the New York Times had millions of followers but relatively few retweets, Musk stated that he had seen the same thing and thought it was odd. Twitter estimated in an early May filing that fraudulent or spam accounts constituted less than 5% of its daily active user base during the first quarter.

When a Twitter user pointed out that he could construct another social media platform for far less than the $44 billion he paid for Twitter, and reminded Musk that he reportedly declared he wouldn’t sell Tesla assets unless it was to pay for the colonisation of Mars, Musk refused to sell. Musk replied that you may be correct. If he abandons the agreement, he must pay a one-billion-dollar termination charge. In a subsequent tweet, Musk reaffirmed that he is still dedicated to purchasing Twitter. In addition to the concerns and doubts about how the Twitter acquisition would affect Tesla and its stock price, there has been a further wave of criticism about Musk’s Twitter agreement. Here are some of the news networks’ responses. There must be restrictions on this. You require rules. You cannot let these individuals dictate the debate in our country, or we will perish. If you are invited to an event where there are no regulations and everyone has complete freedom, you should not go. Do you intend to attend the party? We are living in an unimaginably perilous time. The tiny non-pro-neo-nazi wing of the Republican Party is likely to grow tremendously in the upcoming midterm elections. If this occurs, we may look back on the previous week as a turning point, when a petulant and dim-witted billionaire acquired one of the world’s most prominent communications platforms and turned it over to the extreme right. In response, Musk tweeted that NC is essentially suggesting that the GOP are nazis.

The purchase of Twitter by Elon Musk for $44 billion has elicited an obvious outpouring of displeasure from those on the left. During a discussion concerning Musk’s takeover, Twitter’s senior attorney, who made $17 million last year, reportedly sobbed. Martina Navatolova, a tennis superstar, has declared she will never purchase a Tesla. Alina Musk reacted humorously to Alexandra Ocasio-Cortez’s about an increase in hate crimes due to the fact that a billionaire runs a big communication platform. Stop striking me. I am quite bashful. Aoc emphasised that she was referring to Mark Zuckerberg before quickly erasing her response. Progressive Twitter users who campaign for progressive social justice causes are anxious about the shift in leadership. They are concerned that Musk would boost conservative content on Twitter and give the right a louder voice. Musk has stated that he will reinstate Trump on the platform. Within the scope of a recent interview with the Financial Times He referred to the decision to ban Trump as immoral and extremely unwise. He has previously stated that timeouts are preferable to permanent bans. Conservatives have claimed that Twitter suppresses them; thus, they applaud Musk’s takeover since he has pledged to remove censorship and increase free expression on the network.

When Twitter prohibited people from publishing a scathing New York Post article on Hunter Biden during the time that his father was the Democratic presidential nominee, Musk stated that it was clearly quite improper. Twitter said that it blocked the story due to its policy against hacked content. However, conservatives charged that the platform did not implement this guideline uniformly. Actually, Musk is not a conservative. At best, he may be considered average. He declared he was a registered independent in California, the state he vociferously fled for Texas. He claimed he firmly backed Barack Obama for president, but he feels that extremists have taken over the Democratic Party. Recently, he tweeted a meme depicting a person who had previously leaned somewhat to the left and was suddenly startled to find themselves to the right of centre, despite their personal beliefs remaining unchanged. According to the meme, the awakened left has moved far more to the left. Musk has made it clear that he seeks to rescue the planet, and he frequently promotes Tesla and SpaceX as part of this objective. Similarly, he feels that freedom of expression is essential to preserving democracy. However, his detractors argue that excessive freedom of speech is hazardous. They are curious as to how Musk would handle abuse and misinformation on Twitter. despite the fact that Musk considers Twitter a digital public square. The usage of the left-leaning guardian Twitter is more like a Starbucks, McDonald’s, or retail mall than a village square. It has additional responsibilities that conflict with unrestricted expression, but content regulation is difficult. In a recent video, I discussed how the former CEO of Reddit stated that Musk would be compelled to filter content because of the difficulty of maintaining free speech online. At the time, Musk did not appear to take his comments seriously.

As a reaction to the former reddit CEO’s novella of a discussion, he commented that extended form tweets are long overdue on Twitter. Some commentators contrasted the rhetoric of people who have sworn to renounce their citizenship to that of those who stated they would relocate to Canada following Trump’s election. Most did not follow through. Musk expects his detractors to remain on the platform if the transaction proceeds, pending shareholder approval. I hope that even my harshest detractors will remain on Twitter. Because this is the definition of free speech. Following the announcement that the transaction had been halted, pre-market trading in Twitter shares fell by more than 20%. The stock price of Twitter has seen a roller coaster journey. There are plenty of additional ways to increase your wealth. J.P. Morgan recently stated that alternatives are no longer optional since they are now indispensable. Fintech platforms provide individuals with access to investments that were previously unattainable.