The outspoken
Musk said in a joint statement with Twitter that he wants to make the service “better than ever” with new features, such as getting rid of automated "spam'' accounts and making its algorithms open to the public to increase trust.
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” the 50-year-old Musk said, adding hearts, stars and rocket emojis in a tweet that highlighted the statement.
The more hands-off approach to content moderation that Musk envisions has many users concerned that the platform will become more of a haven for disinformation, hate speech and bullying, something it has worked hard in recent years to mitigate.
The deal was cemented roughly two weeks after the billionaire first revealed a 9% stake in the platform. Musk said last week that he had lined up
Twitter said the transaction was unanimously approved by its board of directors and is expected to close in 2022, pending regulatory sign-off and the approval of shareholders.
Shares of
Musk has described himself as a “free-speech absolutist” but is also known for blocking or disparaging other Twitter users who question or disagree with him.
In recent weeks, he has voiced a number of proposed changes for the company, from relaxing its content restrictions — such as the rules that suspended former President Donald Trump’s account — to ridding the platform of fake and automated accounts, and shifting away from its advertising-based revenue model. Musk believes he can increase revenue through subscriptions that give paying customers a better experience, perhaps even an ad-free version of Twitter.
As Twitter's main customers, advertisers have also been a voice in pushing for stronger content rules that Musk has criticized. Asked during a recent TED talk if there are any limits to his notion of “free speech,” Musk said Twitter or any forum is “obviously bound by the laws of the country that it operates in. So obviously there are some limitations on free speech in the US, and, of course, Twitter would have to abide by those rules.”
Beyond that, though, he said he’d be “very reluctant” to delete things and in general be cautious about permanently banning users who violate the company's rules.
It won’t be perfect, Musk added, “but I think we want it to really have the perception and reality that speech is as free as reasonably possible."
After the deal was announced, the
“Disinformation, misinformation and hate speech have NO PLACE on Twitter," the civil rights organization said in a statement. “Do not allow 45 to return to the platform. Do not allow Twitter to become a petri dish for hate speech, or falsehoods that subvert our democracy."
During his candidacy and presidency, Trump used Twitter as a powerful megaphone that enabled him to speak to the public directly, often using incendiary and divisive language on hot-button issues. He was permanently banned from the service in the aftermath of the
Efforts to “deregulate” Twitter could thwart the company’s current commitment to making the platform as safe as possible for all users, said
“Marginalized communities of users are especially vulnerable to the forms of hate and harassment that so often circulate in unregulated online spaces,” she said.
Some users said Monday that they were planning to quit the platform if Musk took it over. To which he responded on Twitter: “I hope that even my worst critics remain on Twitter, because that is what free speech means.”
Musk has battled with the
The
Noteworthy as they are, the
With initial concerns of its own about the deal, Twitter had enacted an anti-takeover measure known as a poison pill that could make a takeover attempt prohibitively expensive. But the board decided to negotiate after Musk updated his proposal last week to show he had secured financing, according to The Wall Street Journal.
While Twitter’s user base of more than 200 million remains much smaller than those of rivals such as Facebook and
Last week, he said in documents filed with
Musk is the world’s wealthiest person, according to Forbes, with a nearly
Musk began making his fortune in 1999 when he sold Zip2, an online mapping and business directory, to Compaq for
That same year, Musk founded
In 2004, Musk was courted to invest in
Musk’s pledge to make Twitter a haven for free speech could dim the appeal of Donald Trump’s troubled Truth Social app, which the former president has touted as a competitor to Twitter that would cater to conservatives. Truth Social is part of Trump’s new media company, which has agreed to be taken public by
Krisher reported from
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