Musk's becoming a major shareholder of Twitter cited "shock": some people made 1 billion first, some were dissatisfied with resignation, some were angry and ridiculed

In the past few days, the news that Tesla CEO Elon Musk (Elon Musk) has joined the board of directors has caused a "shock" in the technology circle.

Musk has made 1 billion after becoming Twitter's largest shareholder

According to filings with the U.S. Securities and Exchange Commission (SEC), from January this year to this April, Tesla CEO Musk "quietly" bought $2.89 billion -- 9.2% of Twitter's shares.

Although Musk only holds 9.2% of Twitter's shares, this is higher than the current holdings of all individual and institutional Twitter. You must know that Twitter's founder Jack Dorsey's shareholding is only 2.25%.

After news of Musk’s stake in Twitter spread on Monday, the social media giant’s stock price jumped 27%, the highest one-day increase in Twitter’s stock price since 2018.

Since Musk's declaration was 11 days later than the SEC's regulations, this directly allowed him to "preempt" and earn $156 million (about 1 billion yuan), although this operation may be punished by the SEC, but in the After he was revealed to be Twitter's largest shareholder, Twitter's stock price soared, making his fine worthless.

Twitter employees leave amid worries about future

According to insiders, since the news of Musk's appointment as a member of Twitter's board of directors came out, many Twitter employees began to worry about the censorship system of the social media company's future content, and some employees even chose to leave.

Four Twitter employees interviewed by the media earlier said they were concerned that Musk would influence the company's policy on "abusive users and harmful content," although Twitter this week reiterated that the board would not make a policy decision.

With Musk on Twitter's board, employees are concerned that it will undercut the impression of "years of effort to make Twitter a place for healthy conversations" and could lead to a prevalence of cyberbullying and various attacks on Twitter.

Remember that after some important people were banned from using Facebook and Twitter, Musk also tweeted that "many people will be dissatisfied with the fact that American technology companies act as 'free speech arbiters'.

Of course, there are other employees who say that Twitter currently values inclusivity. In the long run, Musk's involvement could change Twitter's corporate culture, potentially helping to speed up the pace of new feature and product releases and giving Twitter's active users a fresh perspective.

While Musk hasn't made it clear what he wants to do as Twitter's new board member, he has made his intentions clear via Twitter: A week before his stake in Twitter was revealed, he polled his 80 million followers, asking the Whether the website adheres to the principles of free speech, most people voted against it. The employees, who requested anonymity for fear of retaliation, began to testify against Musk's use of Twitter to attack critics.

On Tuesday, a Twitter spokesperson repeated a statement saying the board "plays an important advisory and feedback role across our service" but that day-to-day operations and decisions are made by Twitter's management and employees — "Twitter Committed to developing and enforcing its policies and rules fairly."

'Taunts' from conservative rivals

Musk's appointment as a member of Twitter's board of directors has not only sparked dissatisfaction and concern among Twitter employees. Equally dissatisfied, there are conservatives of all stripes, who have begun to ridicule it on social media.

Previously, the co-host of "Fox & Friends" in the United States also launched a discussion on the topic of "Musk's potential influence on Twitter's censorship of conservatives".

On Tuesday, Lulu Cheng Meservey, vice president of Substack, the US version of the self-media "public account", expressed anger at Musk's appointment as a member of Twitter's board of directors. The company is hiring recently, and she warned that employees such as Twitter who resigned because of Musk's stake "please don't come to work here" are not allowed to apply for fear of "lax regulation of speech" involving Musk. Substack work.

Cheng Meservy also tweeted specifically: "If you're a Twitter employee thinking about quitting because of concerns about Elon Musk's push for unregulated speech...please don't work here ."

follow-up

Regarding Musk's appointment as a member of Twitter's board of directors, there are dissatisfaction and concerns from employees and criticism from various conservatives. Under various "disputes", Twitter CEO Parag Agrawal and co-founder Jack Dorsey have invested in Musk. A warm welcome, which also took some Twitter by surprise.

At present, a series of controversies about this matter are still fermenting on social media. We will continue to pay attention to the follow-up of the incident. What is your opinion on this? You are also welcome to leave a positive comment below.