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Elon Musk vs. Twitter’s season one finale is over

Elon Musk vs. Twitter’s season one finale is over

The Hindu
Tuesday, July 12, 2022 06:39:56 AM UTC

Twitter must ponder on whether Elon Musk will follow a possible court order mandating him to buy the company he doesn’t want anymore

Since April, among various prominent global events, Elon Musk’s offer to buy Twitter for $44 billion kept taking centre stage. In many ways, the cat and mouse game between the world’s richest man and the micro-blogging site resembled a successful Netflix series.

(Sign up to our Technology newsletter, Today’s Cache, for insights on emerging themes at the intersection of technology, business and policy. Click here to subscribe for free.)

It had a great plot and an all-star cast: a billionaire attempting a hostile takeover of one of the largest social media platforms to promote freedom of speech. To do it, he uses the very micro-blogging site to criticise its management and board.

In just over three months, Musk aggressively sought to buy Twitter. The platform first resisted, then reneged. He prevailed. The final twist in the tale is he has decided to not buy his takeover target. And that is how the series’ first season culminates.

On Friday, he said he wanted out, accusing the company of withholding data from him and saying its statements on spam on the platform represent material misstatements to regulators. In the papers filed, he argued Twitter was making important changes to the running of its business without his consent.

And, like all good series, the season finale ends with the question of ‘what’s next?’ If the current season played out on social media, the next one will take place in a courtroom. Some legal experts point out that Twitter has a solid case against Musk.

But the more important question for Twitter to ponder over is whether Musk would follow a court order and buy the company as no one can force another party to buy something that don’t want.

Read full story on The Hindu
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