Key points:
- Many are wondering what comes next for Twitter once Musk acquires it.
- The social media platform is likely to undergo some changes for the better.
- Still, the deal is far from done, and we will keep unfolding over time.
Starting with the obvious, Elon Musk’s takeover of Twitter Inc (NYSE: TWTR) in 10 days will be one of the most rapid takeovers in the United States. One of the key factors behind the rapid pace of the deal was that Elon Musk was an individual suitor, not a corporate, and according to sources, very much involved in the deal.
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For most people, the looming question is what will happen to Twitter once the deal is done and the company goes private. Will we get another overlord who will censor people with a differing opinion, or will Musk stick to his promise and ensure that Twitter becomes the town court as he envisions?
There is hope for the almost 400 million global Twitter users since Musk convinced twelve banks to commit to lending him $25.5 billion to make his Twitter purchase a reality. Still, the tech mogul is putting up $21 billion of the $46.5 billion needed to seal the deal. Just so we are clear, the deal is not done yet and could take some months before it is completed.
Before we say that we cannot trust bankers, we know that they care a lot about where they invest their money, and the investment must make sense before they decide to support it. According to reports, Musk held multiple meetings with the bankers outlining his vision for Twitter and how it would make the platform better with time. The bankers liked his ideas enough to back him.
Musk plans to uphold the tenets of free speech on the platform and even asked his most ardent critics to stay on the platform and troll him if he does not change how the platform works. Proponents of decentralisation have suggested that he migrates Twitter to a blockchain-based platform, with some even suggesting that he converts it into a decentralised autonomous organisation (DAO).
However, Musk’s plans for Twitter are still mostly ideas gathered during a Twitter poll, and we will have to wait and see how he will roll them out once the takeover closes. In addition, Twitter shareholders should wait for the delisting of their shares since it is doubtful that the share price will stray far from Musk’s offer of $54.20 per share.
I would not be surprised to see Musk keep most of Twitter’s employees, given their experience running the company and his lack of experience. Still, he is likely to make some fundamental executive changes and bring in some executives that he trusts to execute his vision of the app's future.