What does the Elon Musk Twitter takeover mean for you?
In the short-term… Not much. In the long term? It’s anyone’s guess.
A Quick Recap
So, how did we get here?
If you’ve been cut off from news for the past few weeks, here are a few of the major headlines you’ve missed:
April 4: We learn that Elon Musk—the famed CEO of Tesla and SpaceX as well as the world’s richest man—has purchased 9.2% of Twitter’s shares, worth about $2.9B, making him the company’s biggest shareholder.
April 5: Twitter announces that Musk will be a new board member.
April 10: Twitter announces Musk will no longer be joining the board.
April 14: Musk offers to buy the entire company for $43B. A few hours later, he speaks at the TED2022 conference.
April 25: After several more interesting twists and turns, Twitter accepts the acquisition offer, and includes a $1B termination fee if the deal goes south.
UPDATE: A helpful Protocol article is being updated as this strange sage continues…
What Does This Mean for Twitter?
Assuming that the deal doesn’t fall apart, Musk will be taking over Twitter. However, the deal will take several months to be officially finalized. Until then, the platform will likely not see major changes. After that, though…
In this LinkedIn post, Matthew lays out a few possibilities that Musk has reportedly proposed:
The biggest talking point throughout the saga has been Musk’s stated desire to implement Musk’s vision for “free speech” on Twitter. What that means, precisely, is still not entirely clear (and many have pointed out the confusion and challenges around this crusade). From a marketing perspective, the notion is making some brands anxious, especially when it comes to advertising, as leaders worry about getting mixed up in toxic rhetoric.
Why it Matters
Apart from existential questions this journey so far has raised, there is reason to be hopeful. Musk has a track record of achieving immense success, and if he can replicate that at Twitter, the sky is the limit. We should expect fast-tracking of features he has expressed desires for (an edit button is already being tested).
Brands will want to keep an eye on how censorship and misinformation safeguards are relaxed. But on the plus side, Musk may take risky bets in order to drive new revenue, making it a potentially opportunistic time to be a Twitter advertiser.
Let’s make Twitter maximum fun!
— Elon Musk (@elonmusk) April 28, 2022
Whatever happens, it’s sure to be an interesting ride! Stay tuned.
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