Sunday, 26 Mar, 2023

Tech

Elon Musk visits Twitter carrying sink as deal looms

Technology Desk | banglanews24.com
Update: 2022-10-27 12:27:01
Elon Musk visits Twitter carrying sink as deal looms

Elon Musk has posted a video of himself walking into Twitter's headquarters carrying a sink, raising speculation about the fate of his planned takeover.

The billionaire faces a Friday deadline to complete the $44bn (£38bn) purchase, which he announced months ago but then tried to abandon.

He agreed to move forward earlier this month, just weeks before a court trial over those moves was due to start.

"Entering Twitter HQ - let that sink in!" Mr Musk wrote.

In business parlance, "kitchen sinking" means taking radical action at a company, though it is not clear if this was Mr Musk's message - he also updated his Twitter bio to read "chief twit".

Mr Musk has said the social media site needs significant changes. At least one report has suggested he is planning major job cuts.

It was not clear whether the Tesla boss met with executives at Twitter on Wednesday, but he listed his location as the Twitter headquarters in San Francisco on the social media platform.

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View original tweet on Twitter
When Elon Musk first revealed plans to buy Twitter, he said he wanted to clean up spam accounts on the platform and preserve it as a venue for free speech.

But Mr Musk, the world's richest man and a prolific Twitter user known for his impulsive style, balked at the purchase just a few weeks later, citing concerns that the number of fake accounts on the platform was higher than Twitter claimed.

Twitter executives denied the accusations, arguing that Mr Musk wanted out because he was worried about the price.

It eventually filed a lawsuit to hold him to the deal, and Mr Musk revived his takeover plans for the company on the condition that legal proceedings were paused.

Investors voiced scepticism that the takeover would go ahead, especially as Mr Musk was seen as offering a heady price for a firm struggling to attract users and grow.

However, the deal must be completed by 28 October, or he will face trial over the contract.

Who is Elon Musk?
"I'm excited about the Twitter situation," Mr Musk said during a recent Tesla earnings call.

"I think it's an asset that has just sort of languished for a long time but has incredible potential, although obviously myself and the other investors are overpaying for Twitter right now," he added.

Source: BBC

BDST: 1226 HRS, OCT 27, 2022
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