Elon Musk tweeted a letter titled “Dear Twitter Advertisers,” saying he is buying the social media company to create a “common digital town square” where users can debate their ideas in “a healthy manner.” Musk’s letter comes a day before the court-ordered deadline for the $44 billion Twitter deal.
Elon Musk Claims He’s Buying Twitter to Help Humanity
Elon Musk just published an open letter to advertisers, saying that most of the speculations about why he is acquiring the company have been wrong. The letter, titled “Dear Twitter Advertisers,” comes just a day before the Oct. 28 deadline for the $44 billion acquisition.
The billionaire said he is buying Twitter because he believes it is important to create a secure digital town square where people of different beliefs can debate in a healthy manner. Musk pointed out that today’s social media is increasingly generating hate and dividing society.
“In the relentless pursuit of clicks, much of traditional media has fueled and catered to those polarized extremes, as they believe that is what brings the money, but, in doing so, the opportunity for dialogue is lost.”
– Elon Musk wrote in the letter.
Musk also wrote that he did not decide to buy Twitter to “make more money” but rather to “help humanity, whom I love.” He added that the platform must not become the “free-for-all hellscape, where anything can be said with no consequences.”
In the last part of the letter, the Tesla founder said he believes advertising can delight, entertain, and inform users “when done right.” To achieve this, it is crucial to make advertising “as relevant as possible to their needs”
“Low relevancy ads are spam, but highly relevant ads are actually content!”
– Musk added.
Musk and Twitter Set to Ink the Deal, Avoid Court Battle
In some way, Musk’s letter marks the end of the months-long disputes between himself and Twitter.
Earlier today, the New York Stock Exchange (NYSE) announced it will delist Twitter’s shares on Oct. 28 – the court-ordered deadline day for the deal. Musk will buy Twitter at the original price of $54.20 per share in cash.
The saga could have ended much differently though. Following prolonged disputes, Musk put the deal on hold earlier this year, asking the social media company to prove that the number of bot accounts on the platform is below 5%.
Twitter sued Musk to force him to complete the deal, which resulted in the Delaware Chancery Court scheduling a 5-day trial in October. But it appears the two parties will not go to court after all as Musk ultimately decided to follow through with the deal.
This article originally appeared on The Tokenist
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
