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Business

What Musk said about freedom of speech, layoffs and more on Twitter Meeting




What Musk said about freedom of speech, layoffs and more on Twitter Meeting

Elon Musk, Twitter’s potential owner, on Thursday asked questions from “tweeps”, as Twitter employees are known, and emphasized “freedom of speech and freedom to reach” in a discussion where he seemed to be talking into his phone and often had sound problems .

Mr. Musk attended a virtual meeting with all hands as his $ 44 billion acquisition of the company, announced in April, continues to move forward – despite Mr. Musk twirling about bot accounts on the site, which many analysts have interpreted as a try to get out of the deal or lower the price tag.

The meeting has been long overdue. Mr. Musk was supposed to take questions from employees after Twitter appointed him to the board in April, but that appearance was shelved after he changed his mind and tried to buy the company instead. His first question was whether he would do another event, given that Thursday’s 45-minute meeting was probably not enough time to answer all the many questions collected in recent days. He agreed to reappear.

He said that WeChat, the Chinese social media and payment app, could be a possible vision for Twitter and said he appreciated people who “earn on Twitter”.

Doing a Q. and A. session after announcing a deal to buy a company is a standard part of the merger and acquisition handbook, but the Twitter deal has been far from typical. Falling stocks in technology stocks, including Tesla, a major source of Musk’s wealth, have coincided with what appears to be some hesitation on Mr. Musk’s part, and his erratic amount of contract-related tweets have sent advisers, investors and employees. encryption.

This month, Mr. Musk accused the company of shutting down his efforts to get more information on how it calculates the number of fake or spam accounts, which he said could give him the right to leave the deal. Days later, Twitter agreed to give Mr. Musk access to his “fire hose,” a stream of millions of tweets. Despite public back and forth, advisers continue to work towards completing an agreement, which is expected to be finalized by October 24, provided regulators approve it by then.

Some investors doubt whether Mr. Musk will take the deal to the finish line, with Twitter continuing to trade well below Mr. Musk’s takeover price of $ 54.20. If he tries to withdraw from the deal, there is a $ 1 billion breach fee, as well as a clause that gives Twitter the right to sue him for closure, if his funding is intact. Twitter’s lawyers, who are ready to take Mr. Musk to court if necessary, are guaranteed to take diligent notes during Thursday’s Q. and A.



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