Elon Musk, the maverick, the genius of the real world “Iron Man,” has placed a hold on the Twitter buy-out. This has, of course, tanked the Twitter stocks.
However, he is still “committed” to buying out Twitter, but it seems the issue is due to the amount of “real accounts” on Twitter.
It is no secret that Twitter is filled with many bots, and the amount Elon has decided to buy Twitter for may be far more generous than the company is actually worth.
It would appear that Elon is playing a brilliant game of negotiation and seeing how much lower he can buy Twitter for.
And this is very smart because Twitter may now have to sell to Elon instead of Elon having to buy Twitter.
Since his announcement that the purchase would be on hold, the stocks have plummeted.
Musk has placed Twitter in a very peculiar place. Twitter has been getting a lot of press lately, as the platform has become synonymous with “cancellation,” “shadow banning,” and “silencing any voice that it doesn’t agree with.”
Musk’s desire to uphold freedom of speech was a significant impetus for his decision to purchase Twitter.
But with this new revelation of him placing Twitter on hold, one has to wonder if this is just a game of negotiation or is it something he just realized is a waste of his time and money (because of the bot accounts).
Only time will tell.
