Some of you are surprised that Elon Musk decided to go through with buying Twitter even though it is probably true that 30% of all accounts are fake.
You must have asked yourself why he changed his mind. I’m not sure that he did. I think that just like his other endeavors, he is just way ahead of everyone else. He has often mentioned X, but do you know what it means? I don’t. Not exactly, but have you ever heard of the Chinese app WeChat?
WeChat is not your usual social media site. If you live in China, it is a good bet you never leave the app because it provides many functions all in one site.
WeChat provides different services including messaging, social media, payments, and food orders. There is nothing like it in the United States and if past history is any indication, Musk has some additional ideas to enhance its features.
Musk has said and tweeted:
“Buying Twitter is an accelerant to creating X, the everything app.”
“And I think that there’s a real opportunity to create that.”
“You basically live on WeChat in China because it’s so useful and so helpful to your daily life. And I think if we could achieve that, or even close to that with Twitter, it would be an immense success.”
Twitter probably accelerates X by 3 to 5 years, but I could be wrong
— Elon Musk (@elonmusk) October 4, 2022
Zoe Kleinman, a technology editor for the BBC said:
“He could well be eyeing something along the lines of the hugely successful Chinese app WeChat. That’s a kind of ‘super app’ which incorporates a lot of different services including messaging, social media, payments, and food orders – there is as yet no such thing in the west.”
Meanwhile, Twitter said in a statement on Tuesday that it plans to move cautiously forward with the deal, according to The Washington Post.
The Post reported that a source, who was not named, said the company wants the judge overseeing the lawsuit it brought against Musk to oversee the process of finalizing the sale.
According to the Post, the source also said Twitter executives are still wary of Musk and fear this could be some type of maneuver and not a genuine plan to buy Twitter.
But some analysts said Musk’s offer is a signal that he understands the deal is going to go forward.
Daniel Ives, an analyst for the investment firm Wedbush Securities, wrote a note to clients saying Musk’s acceptance of the deal was a “clear sign that Musk recognized heading into Delaware Court that the chances of winning vs. Twitter board was highly unlikely and this $44 billion deal was going to be completed one way or another,” according to MarketWatch.
“Being forced to do the deal after a long and ugly court battle in Delaware was not an ideal scenario and instead accepting this path and moving forward with the deal will save a massive legal headache.”
This could be a conservative’s dream, but a liberal’s nightmare. Just think about it for a minute. If Twitter stops banning conservatives, the number of interactions will double and along with other fees Musk is planning, the revenue generated would put Twitter back in the black and allow them the resources to add to the platform. Conservative sites will see a resurgence in traffic and no longer will the site be one sided.