Elon Musk and twitter
Interesting things have been happening around the Twitter social network in recent days. Not only is it a little more exposed as a result of the dissemination of information from Ukraine, but there are also significant changes in its internal functioning. It was discovered that a nearly 10 percent stake in Twitter Inc. won the head of Tesla or SpaceX Elon Musk. As other company officials later confirmed, Musk is also on the board and (co-) decides on the operation of the network. But will it really be so ?
Elon Musk is not only one of the most popular users of Twitter, but has also been its most important investor for several weeks. After buying less than ten percent of the shares - which is a significant stake in a publicly traded company - he maybe plans to buy more. Maybe even the whole Twitter.
The richest man in the world was expected to become a member of the board, and the company had even mentioned this in some official documents a short time ago. Musk came up with ideas about what Twitter should do differently and better, and let's face it as ironic that the current Twitter management introduced them… yes, just through Twitter. Nice in public. The ideas ranged from "quite serious" to "absolutely crazy", probably considered funny by Musk.
Among the first ideas of Musk should be mentioned, that the social network should monetize users by introducing some form of subscription, which the company is already considering independently of Musk. And of the most serious ones, the idea that the company's headquarters in San Francisco should be turned into a homeless hostel was probably the most interesting. Some employees were said to be nervous about this joke, and some even complained to the HR department that he had caused them anxiety.
However the company's chief announced short time ago that Musk would not be a member of the board. According to the previous agreement, he was to hold the position of director until 2024. He was not allowed to own more than 14.9 percent of Twitter's shares alone or in the group during his term and 90 days after termination.
There is speculation about various reasons. However, the main one is obvious: with formal function comes formal responsibility. And this is precisely defined by law in publicly traded companies. Among other things, it means that your statements will not affect the share price, because money is at stake not only by you, but also by other investors.
In other words, it would mean that Elon Musk would lose the fun with his wild night tweets, and that wasn't worth a chair.
? ? ?
To put it another way, Elon Musk decided to stay there, which Americans sometimes call "cheap seats." Just cheap places. Whistling or swearing, advice to actors or athletes, and sometimes tomatoes are heard in theaters or sports arenas. Making noise and knowing better is the prerogative of people who buy cheap tickets. The disadvantage is that it does not affect what is happening on the stage or on the field.
Elon Musk may be having a good time, maybe he is convulsed with laughter ...
So what is really happening ??
Thanks for reading
Margaret