A few thoughts on the recent Elon Musk news.
Yesterday, we were treated to some interesting news. Elon Musk offered over $40B to buy out Twitter and move the company private, citing concerns on the current management of Twitter.
There's a lot of thoughts we have on this, so let's get right into it.
Speak up, Jack
Before we dive into this news, we think it's worth highlighting a theme that's been present in mainstream media. Party affiliations, viewpoints, or the likes asides - our standpoint is pretty much common sense and well-grounded.
In today's mainstream media, there's a growing rise of cancel culture and censorship of misaligned interests that clash with the entities own beliefs/views. Just take a look at virtually any headline you see, it's bait for your attention and time. Time is one of our most precious commodities (one we don't get back) and there's empires that have been built on attracting as much of it as possible.
Thus, we reach the present where things are already concerning as is in a macro lenses. Been to the gas station or grocery store lately, yeah that stimulus you got is being repaid there. However, the main concern to us that has developed is the slow but coordinated attack against freedom of speech.
Remember Donald Trump?
Of course you do, that angry orange man caused so much ruckus. So much so, the powers at be thought it was in their best interest to de-platform a sitting U.S. president off social media.
Good on them, right?
Not so much, if we look at Big Tech's measures we're seeing taken today - they are rudely perpendicular to the core ideals that bore this country into the great and strong nation it became. By "cancelling" the Donald Trump's or anyone for that matter whose opinions/beliefs run in opposition of their own, you enter what's known as tyranny.
Merriam Webster defines tyranny as: "1 : an act or the pattern of harsh, cruel, and unfair control over other people. 2 : a government in which all power is in the hands of a single ruler."
The incongruent part of this all arises in the sheer complexity that's arisen with Big Tech. Though they don't operate as a governmental entity, they're able to exert as much power as them. This is due to the fact that the FAANG's of the world have billions of users. That's people like us interacting and using their platforms daily.
What happens when that obscene power they exert over the public goes unchecked?
One gets a board of directors making shareholder decisions on their behalf and skirting towards their own collective agendas.
It will end badly, rest assuredly.
Is Elon in the Right?
All throughout history, the one who's crazy enough to challenge the status quo gets their head beat into the sand with ridicule. Change isn't an easy thing and it's almost never met positively especially on grand scales.
We think Elon's move to buyout Twitter is a strategic move to lessen the gap Big Tech exerts on the general populace. If you're not checking instagram, facebook, or snapchat - what are you looking at?
Their importance shouldn't be understated in how news and information gets delivered. It's more so the quality and accuracy of that information, that is in question.
Let's take a look at the words from Elon himself (with nothing out of context).
Chairman of the Board,
I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.
However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.
As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.
Twitter has extraordinary potential. I will unlock it.
Pretty straightforward, right?
Big Tech and the mainstream media don't like to operate this way. They enjoy basking and weaving their intentions in semi-relevant angles that make you question your own judgement. That questioning, is what keeps their company and businesses running.
If and when this deal takes a shareholder vote, the outcome will be one of the most important this decade in terms of lessening the gap and power Big Tech exerts. We will say, it clearly scares them shitless too.
Elon is "putting his money where his mouth is" and if you can't respect that, it really makes one wonder...
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