Elon Musk makes offer to buy Twitter

[Still Waters]

Tesla boss Elon Musk has offered to buy Twitter, saying he is the right person to "unlock" the social media platform's "extraordinary potential".

In a surprise announcement, Mr Musk said he would pay $54.20 a share for Twitter, valuing it at about $40bn.

It recently emerged that Mr Musk was Twitter's biggest shareholder after he built up a large stake in the firm.

He said that if his offer was not accepted: "I would need to reconsider my position as a shareholder".

A filing with the US financial regulator appeared to show text and/or voice messages from Mr Musk to Twitter's board, showing that he had raised the idea at the weekend that the business should go private.

https://www.bbc.co.uk/news/business-61104231

[Eldorado]

Elon Musk is under a federal investigation related to his $44 billion takeover deal for Twitter.

The news came from a court filing made public on Thursday about the latest in ongoing legal disputes between the billionaire and the social network.

While the filing said he was under investigation, it did not say what the focus was.

"This game of 'hide the ball' must end," the company said in the court filing.

Mr Musk did not immediately respond to a request for comment.

https://www.bbc.co.uk/news/technology-63254883

[+and-then]

On 10/14/2022 at 7:46 AM, Eldorado said:

While the filing said he was under investigation, it did not say what the focus was

Convenient, eh?  I'm not sure what their issue is at this point.  He has already committed to buy and is just waiting for the financing details to be sorted.  Perhaps they hope to get some sort of judicial bonus or attach some kind of conditions to how he is able to run the company once it belongs to him.  Before all is said and done, I suspect they are going to regret selling.

[+and-then]

I can't find any update on this story.  Does anyone know whether Musk is still being investigated, since the sale has become complete?

[Eldorado]

In the wake of Elon Musk's takeover of Twitter, some users have been seeking alternative platforms. One of the biggest beneficiaries has been Mastodon. But what is it?

The social network says it now has over 655,000 users - with over 230,000 having joined in the last week.

On the surface Mastodon looks like Twitter - account users write posts (called "toots"), which can be replied to, liked and re-posted, and they can follow each other.

Under the bonnet, though, it works in a different way.

https://www.bbc.co.uk/news/technology-63534240

[+and-then]

They do have other options.  They might try Rumble, or TRUTHSOCIAL  

[Eldorado]

A US regulator says it is watching events at Twitter with "deep concern" after the platform's top privacy and compliance officers reportedly quit.

The Federal Trade Commission (FTC) said new chief executive Elon Musk was "not above the law".

Separately, Mr Musk reportedly told employees that bankruptcy is not out of the question for Twitter.

https://www.bbc.co.uk/news/business-63593242

[Eldorado]

Senator Ed Markey (D-MA) revealed on Thursday that he and six of his Senate colleagues have penned a letter to the FTC requesting the commission open an investigation into Twitter following Musk’s acquisition of the company on October 27.

“We write regarding Twitter’s serious, willful disregard for the safety and security of its users, and encourage the Federal Trade Commission to investigate any breach of Twitter’s consent decree or other violations of our consumer protection laws,” Senator Markey and his colleagues wrote.

The lawmakers also requested the FTC launch an investigation into the “alarming steps that have undermined the integrity and safety of the platform,” as well as Musk’s alleged newly implemented “growth-at-all-costs strategy” that has left Twitter users openly exposed to “fraud, scams, and dangerous impersonation.”

https://www.msn.com/en-gb/money/companies/elon-musk-has-meltdown-on-twitter-after-75-of-workforce-quits-senate-threatens-to-investigate-billionaire-s-new-company/ar-AA14htBG?

[Michelle]

Translation...he won't agree to go along with our agenda.

[+and-then]

On 11/19/2022 at 12:50 PM, Michelle said:

Translation...he won't agree to go along with our agenda.

Not that the news media will cover it honestly, but I think we're about to get a clear lesson on what actual FASCISM looks like, when governments step in to take control of industry.