- Elon Musk, Tesla CEO, Boring Company creator and SpaceX founder has agreed upon terms with Twitter board to take over the social media platform.
- Twitter occupies a fairly essential role in public disclosure, specifically in crypto. Elon Musk’s pending acquisition move towards Twitter is worth seeing.
- Elon Musk stated that he wants to apply the notion of free speech, to make the platform liberal for everyone.
Funds Secured
Elon Musk’s acquisition of Twitter is almost done. So the bird website stays majorly concentrated on what Tesla CEO buying it means for bots and free speech.
Elon Musk said in a statement that he desires to make Twitter better than ever via authentication of all folks. Does this mean he wants to eliminate any anonymous handles completely? And how this will be implemented.
It appears that “authenticate” here means gathering some form of personally identifiable information (PII). If it is as easy as checking a box or completing a captcha, that’s not so bad isn’t it.
It’s another scenario altogether if “authentication” expands to verifying a credit card or passport or license to validate that there is in fact an actual human on the other side.
Elon Musk is known for hating the bots and the potential part on social media, and it would make sense for Tesla CEO to concentrate on that particular issue. Authentication is one solution for acknowledging that.
Sealing The Deal
Another question to ask is whether the SEC has a part here. Musk is still to take over Twitter. The Twitter board and him have agreed upon a transaction whereby Musk will take over the social media giant and take it private.
This may take up to 6 months, as per Parag Agrawal, CEO of Twitter. So much could occur in that time (which includes Musk changing his decision, which is not possible I guess).
This is a boilerplate lingo in addendum to Form 8-K submitted to SEC: Further threats and uncertainties involves those linked with: the possibility that scenarios of sealing the deal are not satisfied, involving the threat that necessary approvals from stockholders of Twitter for the Transaction or necessary regulatory approvals to consummate Transaction are not attained.
Also Read: Is it Elon Musk Twitter buying effect that Dogecoin jumped back into top ten crypto?
Form also states the potential of litigation and each party’s ability to consummate the Transaction.
In other words, in case stockholders sue or if Musk is not able to leverage his equity or whatever, the terms may go off. However, these conditions do not appear that likely, depending on some informal discussions.
Speaking of regulators, the European Union was quick to alert Elon Musk that he would be subjected to EU strictures.
Source: https://www.thecoinrepublic.com/2022/04/27/elon-musk-to-authenticate-all-users-on-twitter-but-why/