10/4/2022: Elon is Buying Twitter After All
He will buy Twitter at $54.2 per share as originally planned
Elon Musk has offered to close the Twitter deal on the terms he originally agreed to. I literally LOL’ed after I read about this. He is such a troll. At the same time, he is pragmatic. He knows he is going to lose if he goes to court with Twitter. Instead of wasting all the legal fees, he might as well just get the deal closed and make something great out of it. A lot of juicy details and texts were revealed in the letter sent to the judge last week. I read through some of the text messages over the weekend. He obviously knows the challenges and potentials of Twitter super well . It will be hard to justify him walking away from the deal after the fact. I believe he does want to buy Twitter but his timing was a bit unfortunate. He agreed to the deal right before the stock market crash so he overpaid. But if he is successful with his X app vision, Twitter could be worth a lot more than his purchase price.
I can’t wait to see what he is going to do with Twitter. Elon is obviously a great entrepreneur. But Twitter is a very different beast from the amazing creations he has built so far. There are tons of bots and spams. Twitter’s technical infrastructure was pretty much duct-taped according to a former executive. Its core ad business is not exactly profitable. Hence, he won’t have a lot of cash at hand to make necessary investments to fix Twitter’s many problems. He has a very strong desire to protect free speech but at the same time, he also needs to figure out ways to moderate troubling behavior on the platform. It’s a huge undertaking. But well, he is Elon Musk. He might surprise us with something amazing. I am looking forward to it.