How are employees and Twitterati reacting to Musk's Twitter buyout
What's the story
After nearly two weeks and countless back-and-forths, Elon Musk has come out on top of the bitter takeover battle between himself and Twitter. The company's board accepted Musk's bid of $44 billion for complete control of the company. Once the transaction is completed, Twitter will become private. At this moment, it is only imperative that we look into the reactions of various stakeholders.
Context
Why does this story matter?
The way the Musk-Twitter saga unfurled in a matter of a month is shocking at the very least. A prolific troller, Musk's interest in Twitter was not taken seriously at first. But as he pushed forward with his hostile takeover idea, it seemed clear that he was not playing around. From a passive shareholder to 100% private owner - surely a story to behold!
Employees
Twitter employees are in a state of panic and doubt
The reaction of employees to Musk's takeover of Twitter has largely been pensive and negative. Concerns about their future were clear from the messages that flooded Slack channels. The company has not planned for any layoffs, at least in the foreseeable future. Privatization of the company has also thrown the economic question in the air as many employees receive their compensation in stock.
Twitter Post
Rich or fired - conundrum of a Twitter employee
Can someone just tell me if I’m rich or fired please
— Ned Miles (@nedmiles) April 25, 2022
Top boss
'We don't know which direction the platform will go'
As the news about the Musk-Twitter deal broke, the question that lingered in many people's minds was about the status of CEO Parag Agrawal. About his future with the company, he said that he'll remain as CEO till the deal is closed. "Once the deal closes we don't know which direction the platform will go," said Agrawal. "We don't have all the answers."
Co-founder
Elon is the singular solution I trust: Jack Dorsey
Responding to the Musk-Twitter deal, Jack Dorsey, the co-founder of Twitter said, "It (Twitter) has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step." "Solving for the problem of it being a company however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness," he added.
Twitter Post
Dorsey believes in Musk's vision of an inclusive Twitter
Elon’s goal of creating a platform that is “maximally trusted and broadly inclusive” is the right one. This is also @paraga’s goal, and why I chose him. Thank you both for getting the company out of an impossible situation. This is the right path...I believe it with all my heart.
— jack⚡️ (@jack) April 26, 2022
Twitterati
A red carpet of memes welcome the new owner
Finally, the news of the takeover of Twitter has got the Twitterati into a hyperactive mode. Memes and hashtags have flooded the microblogging site. #twittersold and #ElonMusk are the top two trending hashtags in India. Memes are known to be Musk's desired way of communication. Therefore, it is not surprising to see them taking the front row in welcoming the new owner.
Twitter Post
Owning Twitter is better than building a new one
WHO DID THIS pic.twitter.com/M7mIOr1hLm
— Marc Andreessen (@pmarca) April 25, 2022
Words from Musk
Free speech is the bedrock of a functioning democracy: Musk
Musk continued emphasizing the importance of free speech in a functioning democracy as the new owner of Twitter. Describing the microblogging platform as a "digital town square" where "matters vital to the future of humanity are discussed," the Tesla CEO vowed to make it better. Musk wants even the worst of his critics to remain on Twitter.
Twitter Post
Here's what Musk said about his critics
I hope that even my worst critics remain on Twitter, because that is what free speech means
— Elon Musk (@elonmusk) April 25, 2022