The platform is looking for a parade once morest the hostile takeover launched by the American billionaire. Its members prefer to sell off the shares for all the other shareholders, and thus increase the price for Elon Musk, than to accept his offer.
Without a doubt, Twitter has remained Tom Thumb of the tech giants in terms of revenue, but it does not welcome Elon Musk’s dollars with open arms, a sign that the gap has widened between Silicon Valley and the richest man in the world. The platform’s growth regularly disappoints, and its revenue has remained inversely proportional to its reputation.
When the Tesla boss last week offered to acquire Twitter for a price that would value it at more than $43 billion (up from regarding $36 billion now), the platform’s stock took off on Wall Street. . But the board of directors (CA) responded by adopting a so-called “poison pill” clause: its members would rather sell off the shares for all other shareholders, and thus raise the price for Elon Musk, than accept his offer. .
Part of that reaction is “visceral,” says Roger Kay of Endpoint Technologies Associates. The billionaire “makes fun of people who don’t agree with him. He has everything of the autocrat, ”explains the analyst. But the board is made up of “people who are used to having their say,” he continues.
“They would risk being reduced to subordinate roles.” Elon Musk, fond of provocations on Twitter, said board members would no longer be paid if his hostile takeover succeeds, to save $ 3 million a year.
Opposing views
The entrepreneur with libertarian ideas considers the platform as the public square essential to democracy in the world, a vision shared by many observers and elected officials. But its plans to “unlock its potential” are worrying users, employees and leaders affiliated with the left of the political spectrum. “There is a pinch of extreme right in his opinions, and sexism, among others”, estimates Roger Kay.
California in February accused the Tesla factory in Fremont, Silicon Valley, of “racial segregation”. Several women have complained of harassment at the tycoon’s businesses. And Elon Musk moved Tesla’s headquarters to Texas at the end of 2021, a majority Republican state which has adopted a particularly restrictive law on abortion. But for his fans, he is a cheeky entrepreneur, who makes people dream with the success of his electric cars and his other flagship, SpaceX.
Elon Musk wants more transparent and much less severe content moderation. It thus makes conservatives who feel censored salivate, in particular supporters of ex-President Donald Trump, banned from the site following being accused of incitement to violence. But for the left, the network is on the contrary already too tolerant of disinformation and hate speech.
Sami Nemli with Agency / Les Inspirations ECO
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