July 17th , 2024


Elite Global

2 years ago


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2 years ago

Tesla CEO, Elon Musk recently chatted with Twitter employees for the first time virtually. He explained a number of plans that he made after he completed the Twitter acquisition process.


One of Musk's interesting statements on that occasion was that he wanted to make Twitter like TikTok and WeChat. According to Musk, Twitter has to be like those two apps if it wants to reach a billion users.


In practice, Twitter should offer more usability and ensure people are entertained and informed. He then gave an example of the WeChat application that combines social media with payment services, games to ride hailing .


"No WeChat is the same outside of China. You basically live with WeChat in China. If we can create it on Twitter, we will be a huge success," he told Twitter employees.


In addition to WeChat, Musk also praised the TikTok algorithm which was considered not boring. According to him, Twitter can do the same and even better in terms of displaying news.


"I think Twitter can be much better at informing important issues," he added, quoted by KompasTekno from The Verge , Monday (20/6/2022).


To make this happen, Musk also said that Twitter must contribute to a stronger and more durable civilization and a better understanding of reality.


At the same time, Musk emphasized that he wants Twitter to be more based on subscriptions and payments so that users can diversify.


According to The Verge , Musk's general statements in the virtual meeting suggest that he will make significant changes to Twitter if the acquisition is successful.


Musk also said he wanted to make Twitter more financially disciplined and would be involved in product development and the company's business.


The Twitter acquisition process is hampered by bots

Since last May, Elon Musk's acquisition of Twitter has been postponed. Because, the world's richest man wants to determine the number of bot accounts on Twitter.


Musk even claims that the number of Twitter spam accounts is about 20 percent, four times the number that Twitter claims, which is about 5 percent.


Despite the delay in the process, Musk has said he is committed to buying Twitter and will continue the process once the number of spam accounts is clearer.


In response to Musk's actions, the Twitter board released a statement asking Musk to honor the merger agreement.


"The board and Musk agreed to the transaction at a price of 54.20 per share. We believe this agreement is in the best interest of all shareholders. We intend to close the transaction and enforce the merger agreement," said a Twitter board statement quoted by KompasTekno from Gizmodo.


According to CNN Business , the word "enforcing the agreement" in the statement implies that Twitter is ready to sue Musk and urge him to act on the acquisition. Because, if Musk does not continue with the agreement, he will have to pay a penalty fee of US $ 1 billion or equivalent to Rp. 14.6 trillion.


In order for Musk to proceed with the acquisition, Twitter's board also recommended that shareholders vote in support of the merger.


In a proxy document to the US Securities and Exchange Commission (SEC), Twitter's board said it was determined to complete a deal "as quickly as possible".


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