CONSUMER ALERT. ELON MUSK IS ON THE VERGE OF BUYING THE SOCIAL MEDIA NETWORK TWITTER. BUT HOW WILL THAT AFFECT USERS JOINING US LIVE THIS MORNING WITH MORE INFORMATION IS JED. JESLIN. HE IS THE EXECUTIVE DIRECTOR OF PLANET. GOOD MORNING. THANKS FOR JOINING US. GOOD MORNING. HOW ARE YOU? GOOD MORNING. SO WHAT IMPACT DO WE THINK? THIS WLIL HAVE ON THE SOCIAL MEDIA SITE? I THINK THERE COULD BE A LOT OF IMPACT AND INTERESTINGLY, YOU KNOW TWITTER LAUNCHED IN 2006 AND ONLY6 1 YEARS LATER. IT’S BEING SOLD FOR 44 BILLION DOLLAR. SO OBVIOUSLY THERE ARE A LOT OF USERSND A REGARDLESS OF ANYONE’S INDIVIDUAL OPINION ABOUT TWITTER. THE FACT ISHA TT IT’S BECOMING HUGE ELYFFECTIVE COMMUNICATION TOOL ALL OVER THE WORLD TALKING ABOUT IMPORTANT STOESRI AND SOMETIMES TRIVIAL THINGS BIG PICTURE ELON MUSK GOALS I THAT HE WANTS TO PROMOTE FREE AND TRANSPARENSPT EECH. SO THAT’S KIND OF MAIN MESSAGE SOAR F AND WHYRE A SOME PEOPLE THINKING THAT’S A BAD THING? I THINK SOME PEOPLE ARE THINKING THEY MIGHT BE CHARGED FEES NUMBER ONE JEN. ALSO USER AUTHENTICATION IS GOING TO BECOME A BIG DEAL AND CONTENT MODERATION IS A BIG TOPIC ACROSS SOCIAL MEDIA AND LIKE I SAID, HE IS PROMOTING FREE SPEECH HE SAYS, BUT THAT MEANS COULD MEAN LIFTING BANDS IT COULD MEAN CHANGING THE WAY THAT PEOPLE ARE ABLE TO SPEAK AND IT ALSO MEANS OPENINGP U THE ALGORITHM. HE SAYS WHICH MEA MNSAKING IT POSSIBLE FOREO PPLE TO SEE HOW THINGS ARE BEING MODEREDAT AND IF THEY ARE AND AND YOU KNOW, TRUTHFULLY THERE’S ARGUMENTS ON BOTH SIDES, BUTHE T ARGUMENT FOR THAT IS MAYBE THAT’S NOT SUCH A BAD THING. YEAH, I TNKHI THATS I AN ARGUMENT. BUT THE MAYBE ONE OF THE PROBLEMS IS THAT MOST USERSRE A PROBABLY NOT REALLY EVEN UNDERSTANDGIN OF AN ALGORITHM IS SO HOW DO THEY REALLY KNOW? WHAT OUT THERE IS TRUE AND WHAT OUT THERE IS NOT SO LET’S TALK QUESTION. I DIDN'’ EVEN KNOW UNTIL TWO MINUTES AGO HOW TO SEE MY LATEST TWEETS UNTIL IEN WT AHEAD AND FOLLOWED ELON MUSK ANDE H ACTUALLY HAD THE DIRECTIONS POSTED RIGHT THERE HOW TO DO THAT. SO I FEEL LIKE MY BRAIN JUST GREW I JUST LEARNED SOMETHING NEW. MORNING, SO WTHA HAS BEEN REALLY THE RESPONSE TO ALL OF THIS BEEN? WELL, REALLY A FIRESTORM. OBVIOUSLY THE REASON YOU AND I ARE TALKING ABOUT ITS I BECAUSE IT IT CONJURES OPINIONS AND PROVOKES OPINIONS. I THINK ONE OF THE BIG THINGS THAT PEOPLE THINK ABOUT NOW IS THAT THERE’S BEEN A HUGE EXPLOSION OF INFORMATION AND NEWS ALL OVER THE WORLD AND THERE’S BEEN A PLUNGE IN ACCURACY AND ACCOUNTABILITY. SO PEOPLE AND BRASND ARE WONDERING HOW THIS IS GOING TO AFFECT THEM AND WHAT THEY NCA MAYBE BELIEVE AND NOT BELIEVE BOYS IN THAT THERU TTH THERE WAS A FAKE STORY THAT RAN ON REDDIT THIS WEEK AND SOME REPUTABLE NEWS AGEIENCS RAN WITH IT. SO YOU DO HAVE TO BE VERY CAREFUL WITH THE INFORMATION THAT’SUT O THERE FOR SURE. SO WTHA WHAT ARE YOUR PREDICTIONS MOVING FORWARD ON THIS BECSEAU THIS ISN’T A COMPLETE DONE DEAL YET,ND A THERE HAS BEEN SOME SOME STALLING IN THIS TAKEOVER. PREDICTIONS ARE THERE WILL BE CONTINUED NEWS AND IT’S REALLY INTERESTING THAT ELON MUSK IS SHARING KIND OF PROVOCATIVE INFORMATION ALMOST DAILY. SOMETIMES HOURLY, AND HE’S SHARING IT THROUGH TWITTER. SO HE HAS MADE SOME SORT OF CRITICAL STATEMENTS ABOUT THE PLATFORM, WHICH MAYBE THEY’LL DRIVE INTEREST IN THE STORY. MAYBE THEY’LL DVERI THE ULTIMATE PRICE DOWN. WHO KNOWS, BUT I THINK PEOPLE NEED TO BE WATCHING THIS BUT ALSO UNDERSTANDING THAT THERE’S GOING TO BE A LOT DAY TO DAY THAT HAPPENS. ALL RIGHT, JED. THANKS SO MUCH FOR JOINING US THIS MORNING. RELYAL APPRECIATE IT.
Report: Elon Musk proposes to proceed with Twitter takeover
Updated: 12:42 PM EDT Oct 4, 2022
Video above: How Elon Musk's takeover of Twitter will affect usersTrading in shares of Twitter were halted after the stock spiked on reports that Elon Musk would proceed with his $44 billion deal to buy the company after months of legal battles.The news, based on anonymous sources, was first reported by Bloomberg News.Musk offered to buy the San Francisco company at $54.20. Shares jumped nearly 13% to $47.95 before trading stopped.According to the report Tuesday, Musk sent a letter to Twitter offering to complete the deal, which already has shareholder approval, at the original price.Twitter did not immediately respond to messages for comment on Tuesday.The trial seeking to compel Musk to buy Twitter is set to start in Delaware Chancery Court on Oct. 17.Musk’s argument for winning the case — and thus walking away from the deal — has largely rested on his allegation that Twitter misrepresented how it measures the magnitude of “spam bot” accounts that are useless to advertisers. But most legal experts believed he faced an uphill battle in convincing Chancellor Kathaleen St. Jude McCormick, the court’s head judge, that something changed since the April merger agreement that justifies terminating the deal.This is a developing story. Check back for updates.
Video above: How Elon Musk's takeover of Twitter will affect users
Trading in shares of Twitter were halted after the stock spiked on reports that Elon Musk would proceed with his $44 billion deal to buy the company after months of legal battles.
The news, based on anonymous sources, was first reported by Bloomberg News.
Musk offered to buy the San Francisco company at $54.20. Shares jumped nearly 13% to $47.95 before trading stopped.
According to the report Tuesday, Musk sent a letter to Twitter offering to complete the deal, which already has shareholder approval, at the original price.
Twitter did not immediately respond to messages for comment on Tuesday.
The trial seeking to compel Musk to buy Twitter is set to start in Delaware Chancery Court on Oct. 17.
Musk’s argument for winning the case — and thus walking away from the deal — has largely rested on his allegation that Twitter misrepresented how it measures the magnitude of “spam bot” accounts that are useless to advertisers. But most legal experts believed he faced an uphill battle in convincing Chancellor Kathaleen St. Jude McCormick, the court’s head judge, that something changed since the April merger agreement that justifies terminating the deal.
This is a developing story. Check back for updates.
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