Unless you’ve been living under a rock, you haven’t escaped the Elon Musk & Twitter drama this past week. But given the number of twists and turns, you may not have gotten it all…
- On Monday, April 4, Elon Musk officially announced that he owns 9.2% of Twitter’s stock. But that he wants to remain a “passive” investor (and so he fills out the SEC’s Form 13G, which doesn’t require him to say what he bought and when).
- On Tuesday, April 5, the CEO of Twitter announced that he became a member of the Board of Directors. Not exactly a passive role. Elon then filled in the 13D form which proves that he exceeded 5% on March 14th. So he was late for his announcement on April 4 (the law imposes 10 days maximum, i.e. March 24) and that he made a bundle of cash. At the same time, he also signed a deal with Twitter saying that he will not exceed 14.9% of shares, as long as he is on the Board and for 90 days after he leaves the Board.
- That same April 5, Elon tweets about the “Edit” button, the most debated feature on Twitter for years. Twitter confirms they are working on it, but that it has nothing to do with the poll posted by its newest Board member. Really?
- Between Friday, April 1 and Friday, April 8, the share value rose from $39.31 to $46.23, after peaking at $50.98 on Tuesday, April 5.
The top 3 topics cited as important to Elon? Decentralization (multiple Twitter?), free speech (a Trump comeback?), and crypto integration (what else?).
On the Twitter
side, the latest product decisions
have not been well received. The pro accounts don’t bring much
. The decision to delete the embeds
of tweets that have been deleted since then leaves many articles full of holes
. And we will probably soon be able to remove a mention to one’s account
if we don’t like being associated with the tweet in question.
On the SpaceX
side, the Twitter buzz has allowed articles citing the cost to allied states
of supplying satellites to Ukraine to fly under the radar. No, it was not a gift
The most shocked in this whole story are undoubtedly Twitter employees
, who are worried about the turn of events and the possible impact on the ethics
of the platform. They have been promised a Town Hall with Elon himself
to answer their questions. I can’t wait to read the transcript!
Edit April 11th, 7:30 am