Twitter approves countermeasures to defend against Elon Musk’s takeover. The board of directors approved so-called “poison pills”, ie options reserved for existing shareholders to buy a certain number of shares at a preferential price to prevent the hostile takeover. The measure makes it difficult for anyone, including Tesla’s owner, to rise to more than 15% of the company.
The unanimous go-ahead has arrived as the board is busy evaluating the billionaire’s 43 billion offer. An examination that takes place among Musk’s veiled “threats”. The richest man in the world has in fact reminded the board of his fiduciary duties towards shareholders and the risks he could incur if he violates them. A warning with which he enters with a straight leg in the ongoing debate on his climb to the company that chirps.
While doubts about Musk’s ability to finance the operation do not subside, frustration rises among Twitter employees worried about Tesla’s patron’s approach. The fear is that it could be a distraction and destabilize the ongoing efforts in the daily battle against toxic content circulating on the platform. Not to mention the fear that it could revolutionize the internal culture, overturning the flexible working environment in which employees work. This hypothesis is possible given Musk’s abrupt ways and continuous provocations, opposed to the use of gender pronouns and subject, with his Tesla, of various complaints for harassment at work. In short, he is a model of a “traditional” man who clashes with the liberal culture of Silicon Valley. Chief Executive Parag Agrawal tried to reassure employees. One person alone cannot change the culture of a company: it is the company that sets its strategy, he said explaining how Twitter is not a “hostage” to the offer.
And if Twitter employees tremble, Republicans drink a toast to Musk, the liberal “liberator from censorship”. The possible rise of Tesla’s patron is considered a shoulder to the social platforms, accused for some time of suffocating and censoring those who do not think like Silicon Valley. An advocate of free speech with no ifs and buts, Musk is seen as the savior who could even bring Donald Trump back on Twitter. “Timeouts are better than permanent bans,” Musk said in the last few hours, thus fueling hopes of a readmission of the former president on Twitter, from which he was kicked after the assault on Congress on January 6.
The rise of Tesla’s founder agitates experts and observers instead. If Musk were to tick it off and take over Twitter he would become the owner of the second most influential platform for politics after Facebook. And this would concentrate an extraordinary influence in the hands of two people: Musk, in fact, and Mark Zuckerberg. In fact, leaving two of the richest men in the world the chance to influence public opinion.