On Thursday, Elon Musk made his offer to buy Twitter. Employees of Twitter felt conflicted about this because his ideas could completely change the landscape of Twitter. Their management called in for an all-hands meeting at 2:00PM to discuss the takeover bid. Elon Musk said, “Having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization, I don’t care about the economics at all.”
Parag Agrawal, Twitter’s chief executive, told his employees that everything will work out, but employees were still frustrated because Musk bought a lot of the Twitter stocks. They believed that he should have counter3e more on Musk’s tweets. Some feared about getting discrimination in their companies because they heard about the new how some Tesla employees faced discrimination in their race. The takeover can change who can get the stock and the work ethics.
Even with all the chaos that can be brought up in the company’s purchase, Agrawal told his employees to focus on their work. He said, “This provides all of us this moment where we feel distracted, where we feel a loss of control. I am personally going to spend my time focusing on things I can control, and I believe it will matter.”
Elon Musk became Twitter’s largest shareholder. He didn’t like how Twitter is becoming more restrictive on their freedom of speech. He shared, “I invested in Twitter as I believe in its potential to be the platform for free speech around the globe. I believe free speech is a societal imperative for a functioning democracy.” Musk wants to transform Twitter into a private company to unlock its full potential.
For a long time, Musk has used Twitter to insult people and discuss ideas on space travel. He provided inaccurate information about the pandemic. Directors are thinking of using the poison pill to fend off Musk. A poison pill. Is the shareholder rights plan that would require the shareholder to get a larger amount of shares in order to get the company sold. It is common for this tactic to be used to scare off unwanted offers.
Musk pointed out, “It would be utterly indefensible not to put this offer to a shareholder vote. They own the company, not the board of directors.”
