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The FTC will “review” Musk’s acquisition of Twitter – HotAir




The liberal panic over Elon Musk who tried to buy Twitter has escalated to the highest levels in government and all liberal mainstream media. While President Biden has not directly criticized Musk’s ambitions by invoking his name, he has told reporters that he has “long had concerns” about the power of social media and the influence of big companies. So he plans to do something about it? No one seems to want to comment on this directly, but it is perhaps no coincidence that the Federal Trade Commission has launched a “review” of Musk’s bid to buy the social media platform. And what reason will they offer to conduct such a review? They want to make sure that the purchase does not conflict with antitrust issues. Seriously? (Fox Business)

The Federal Trade Commission (FTC) is considering Tesla chief Elon Musk̵[ads1]7;s $ 44 billion deal with Twitter, setting a deadline for a possible antitrust review, according to a Thursday report.

A person familiar with the case told Bloomberg that next month the agency will decide whether to conduct an in-depth antitrust investigation into the Twitter agreement – a move that could delay the termination by months.

The FTC declined to comment. Musk could not be reached for comment.

If the FTC wants to investigate Musk’s stock sales, loans and other financial machinery designed to let him come up with the price tag for Twitter, that’s fine. Every time so much money starts to change hands and does so in a way that can push a company’s stock in both directions, they have an obligation to take a look.

But an antitrust rap? SpaceX, Tesla, Boring Company and Musk’s other ventures all have one thing in common. They do not control a social media platform. In other words, the total number of social media platforms that Elon Musk currently owns is zero. If he acquires Twitter, the number will increase to one.

If Musk tried to buy Facebook, Instagram and YouTube along with Twitter, then you maybe have a case to make about potential antitrust considerations. But even then, it would probably be questionable. If one person or company controls too much of the supply of batteries, passenger planes or other goods and services, they can cause shortages or increase prices and profits unfairly. How do you go about controlling the supply and demand of people who talk online?

Although the review is doomed to fail to find some antitrust concerns that most analysts seem to believe, a full review could tie up Twitter sales for months. It could potentially give the rest of the players involved some time to figure out another way to block Musk’s efforts. And make no mistake about it. What we are seeing is a very calculated effort to find a way to stop Musk from taking Twitter privately and cutting back on censorship.

Just to throw out another observation for your consideration, is it no wonder that no one seemed to have a problem with how Twitter operated all this time as it was controlled by a board? The individual shareholders had no input regarding the company’s guidelines, at least not to any measurable degree. It’s almost as if the panicked critics who are currently setting fire to their hair really had no qualms about the freedom of expression situation on the platform as long as only the “right people” could speak. But now that conservatives may be able to avoid being shut down in the digital public space, it is a completely different story and the monster must be stopped. Funny how it works, right?



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