Photograph illustration: Sarah Grillo/Axios. Photograph: Dimitrios Kambouris/Getty Photographs for The Met Museum/Vogue
It is lastly over. Elon Musk owns Twitter, after seven months, two lawsuits and one poop emoji.
Why it issues: Twitter stays the worldwide public sq., regardless of its growing older viewers. When politicians or different energy brokers wish to share data or opinions, they normally achieve this through Twitter.
- Its guidelines will now be set by a single particular person, who additionally occurs to be the world’s richest man and considered one of its most idiosyncratic.
For dealmakers: It is a $44 billion reminder that signed contracts are binding, and of the dangers of dashing towards the dotted line.
For Elon critics: You appeared foolish. First lamenting that he was gonna purchase it, after which reveling in his incapacity to stroll away.
For Elon fanboys: You appeared even sillier. Not solely for a similar factor in reverse, however for believing that the lawsuits would lay naked Twitter’s conspiratorial soul.
For Elon: He now should work out make Twitter value greater than $44 billion, a value that everybody agrees is simply too excessive in October 2022, in order that he can finally discover a purchaser or take it public with out taking extra monetary or reputational hits.
- It is a very tall process. However not essentially an inconceivable one, notably if the broader markets sometime rebound and Elon manages to evolve Twitter right into a WeChat-style app that comes with different companies like fintech and commerce.
The underside line: There are nonetheless particulars we do not know, comparable to how the financing gap was stuffed and who will be a part of Twitter in key roles, however the massive query has been answered.