Elon Musk, Twitter and the mysterious X app

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Image Source: GMA Network

Elon Musk and Twitter seemed to be engaged in an endless dance, it seemed.

Then it abruptly ended, at least for the time being, with a brief letter from Musk’s attorneys to Twitter’s lawyers announcing that he still intended to purchase the company and a mysterious tweet from Elon Musk to his 107 million followers about developing “X, the everything app.”

Elon Musk acquired some Twitter stock and received a board of director invitation. He agreed at first but then declined. Then came the first surprise: he wanted to purchase the entire platform.

Twitter tried to block him from acquiring a majority stake by going on the defensive. He then made a $44 billion takeover bid, which was more than the company was worth, and its investors pushed for it to proceed.

Twitter endorsed. The second bombshell was Elon Musk’s claim that the business had underestimated the number of spam and bot accounts on the network. But, again, each side dug in its heels.

As a result of this issue never being resolved, Musk announced his withdrawal. However, it is crucial because, if true, Twitter would be considerably smaller and less appealing than it initially appears if it were overburdened by unreal content.

Elon Musk v. Twitter

According to rumors, Musk’s offer was made rashly, and his plan to finance the transaction—which required selling up some of his Tesla stock—made Tesla investors uneasy, pushing him to hunt for an exit strategy.

The two disputing parties were scheduled to go to court in less than a week because, by this time, Twitter had made its own U-turn and wanted to force the sale through. Either side risked forfeiting a $1 billion termination fee if it decided to leave.

In court filings, some humiliating admissions had previously been made, such as private communications that revealed a dispute between Twitter CEO Parag Agrawal and Elon Musk, for which Twitter founder Jack Dorsey had attempted to mediate.

Read Also: Twitter shareholders approves Elon Musk’s proposed acquisition 

During the deposition, was there going to be more? It’s plausible that Mr. Musk is doing this to buy himself some time and save face before a court case that many people thought he wouldn’t win.

X everything app

We’ll have to watch his tweet about “X, the app for everything.” He might be considering a product similar to the immensely popular Chinese software WeChat. But unfortunately, there is currently no such thing in the west as a “super app” that combines several various services, including chat, social media, payments, and food orders.

With only 300 million monthly users, Twitter is a relatively tiny platform in comparison to its competitors. It has also never experienced the kind of exponential growth seen on platforms like TikTok or Instagram. However, it is seen as significant and is frequently utilized by businesses, international leaders, and politicians to communicate views and opinions.

A tough line for any social media company to tread in order to comply with various regional restrictions and laws on hate speech is what Elon Musk said when he initially revealed his plans to purchase Twitter: he wants to open the site up to more “free expression” and less moderation.

Read Also: Zelensky and Musk in row after Ukraine war poll 

Elon Musk may opt to transform the platform into a very different kind of playground, even though the news is obviously excellent for Twitter’s business—whose shares increased by 20% after the lawyer’s letter was made public. This might turn off its current supporters and draw in a completely different crowd. In any case, CEO Parag Agrawal is likely dusting off his resume.