Economics/Class Relations

Elon Musk’s offer of Freedom through benevolent Oligarchy

By Robert Stark

Update: Today there was a pause in Musk’s acquisition of Twitter.

Elon Musk had initially offered to purchase Twitter in April for $43 Billion. Then Twitter invited Musk to join the board but reneged with obstructionism. For instance what is colloquially known as a “poison pill,” that allows existing shareholders to buy more shares at a discounted price to raise the costs and dilute the stake of any shareholder who seeks to acquire the company. However, on April 25, Twitter’s board of directors “unanimously accepted Musk’s buyout offer of $44 billion, which makes him the company’s sole owner. As of May 2022, the acquisition is pending approval from regulators and shareholders, and could be the largest acquisition ever to take a company private.

There is jubilation from conservatives and populists about Elon Musk’s new free speech Twitter, which may be naïve. So far Twitter has unshackled some prominent conservative accounts and Twitter has seen a spike in new conservative accounts. However, prior to the deal being solidified, there were mass suspensions on Twitter. The responses to Elon Musk’s purchase of Twitter from the woke left and corporate gatekeeping press have been utterly unhinged. Many high-profile progressives such as Alyssa Milano and Debra Messing have threatened to leave Twitter, much like how many liberals threatened to leave the country when Trump was elected. Also many Twitter employees have threatened to quit, Twitter even had to go into an internal lockdown to prevent woke employees from sabotaging the takeover, and Twitter’s top layer, Vijaya Gadde, who was a major force for censorship, was seen weeping at a meeting. However, among the general public, 43% vs. 30% approve of the acquisition.


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