Will Defeat Spam Bots or Die Trying: Elon Musk Buys Twitter

Elon Musk says that he was hoping for his worst critics to stay on Twitter as that is what free speech meant

Elon Musk is being looked upon as the Messiah of free speech after he managed to successfully buy Twitter, the popular social media site. Elon Musk managed to close the deal to buy Twitter for $44 billion cash. The move is being observed by several notable people as the “free of the blue bird”. “As Elon plans to make the algorithm of Twitter open source, this seems to be the first time regular people will get to view how one of the big social media sites actually function. How these algorithms work and what they do, has been shrouded in mystery. I’m curious,” said an account called MerryWeather on Twitter.

Musk also plans to remove bots from Twitter. “If our Twitter bid succeeds, we will defeat the spam bots or die trying,” he had tweeted while adding that he would like to authenticate all humans. Several people have also been requesting Musk to reinstate accounts that were “wrongly” banned from the platform. Elon Musk has been responding to these tweets saying he hoped everyone continued to remain on Twitter since that’s what he stood for.

“I hope that even my worst critics remain on Twitter, because that is what free speech means,” he said. “Elon’s goal of creating a platform that is “maximally trusted and broadly inclusive” is the right one. This is also Parag Agrawal’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,” Tweeted former Twitter CEO Jack Dorsey.

Parag Agrawal, the current CEO of Twitter, commented on the latest development saying: “Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.”  Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing of the proposed transaction. The purchase price represents a 38% premium to Twitter's closing stock price on 1 April 2022, which was the last trading day before Musk disclosed his approximately 9% stake in Twitter.

Bret Taylor, Twitter's Independent Board Chair, said, "The Twitter Board conducted a thoughtful and comprehensive process to assess Elon's proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter's stockholders.” The transaction, which has been unanimously approved by the Twitter Board of Directors, is expected to close in 2022, subject to the approval of Twitter stockholders, the receipt of applicable regulatory approvals and the satisfaction of other customary closing conditions.

"Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated," stated Musk while adding that he wanted to make Twitter “better than ever” by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. “Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it,” he said.