- Elon Musk completed the acquisition of Twitter on Thursday.
- He clarified his goals, focus, and other related aspects of the platform in an open letter.
- He had changed his Twitter profile description to "Chief Twit".
Tesla CEO Elon Musk completed his acquisition of the social networking and short blogging platform Twitter, Inc. on Thursday. Mr Musk tweeted the "bird is freed" following the completion of his US$ 44 billion acquisition deal on October 27
The tweet referred to Twitter's logo and how he had earlier wished to introduce some changes to the platform's limitations. He said in an open letter that he didn't acquire the platform for making "more money" or because it would be easy, but he sees the deal as important for the "future of civilization".
Here’s what Elon Musk said about the acquisition:
In an open letter on October 27, Mr Musk said there had been several speculations on why he showed his interest in acquiring the firm or what his decisions on advertising, most of which were untrue.
He further said that it is "important for the future of civilization" to have a common place where several beliefs can be debated healthily. The current scenario of social media generates more hate and violence because it is either extreme right-wing or extreme left-wing, he added.
According to his statement, the traditional media has been promoting these "polarized extremes" to make more money while losing the opportunity to speak in the process.
Elon Musk has changed his description on Twitter to "Chief Twit". Clearing doubts, the self-described free speech absolutist said the platform could not be a "free-for-all hellscape", where the users could say anything.
The platform would adhere to the nation's laws, and it would provide an opportunity for the users to choose their experience as per their preference. For instance, users interested in sports could choose a sports topic, etc.
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Talking about the advertisement on the platform, Mr Musk said that the advertisement could be entertaining as well as informative if done rightly. So, there would be ads on the platform, but with as much relevancy as possible. Twitter seeks to be a respected platform in terms of advertisement, where it could help other brands to grow.
The TWTR stock closed its trading on Thursday at US$ 53.86, and it would be delisted from the NYSE on Friday, October 28.