If you haven’t heard, Elon Musk recently bought out some 9.2 percent of social media giant Twitter’s shares. This makes him the largest stockholder in the company by far. And if you know much about the rights of stockholders, it also means that he has the potential to make some rather significant changes as to how the company works and even who it employs.
Naturally, the leftists who work there are in a bit of panic about the possibilities. Some even say that the situation has created a massive amount of stress and what they describe as a “sh** show.”
It’s comical, to be sure.
And it could only get worse.
As I mentioned, Musk only owns 9.2 percent of the shares as of right now. But he’s made comments about buying up more… lots more, which would obviously give him even more say in the company and its day-to-day operations.
To try to mitigate his effect on the social media giant, CEO Prag Agrawal invited Musk to join their board of directors, claiming that Musk could bring “great value” to the group. He even made an announcement of sorts on the platform, as though Musk being on the board was a done deal.
However, what he failed to mention and Musk already knew is that being a board member limits you to only ever owning 14.9 percent of the company’s stock and, therefore, limits how much say you have. As you might have guessed, Musk refused their offer of board membership, making it possible for him to buy up as much of the company’s stock as he wants and continue his public criticism of it.
Now, as you might have guessed, someone owning a majority of company shares usually doesn’t cause such widespread panic. But in this case, it is unusually noteworthy, as Twitter is known to be really into censorship of any ideas or thoughts that may oppose the liberal point of view. Musk, well, has proclaimed himself as a “free speech absolutist.”
Naturally, the two don’t tend to mix well.
To be clear, the stress Twitter employees are now experiencing started last month when Musk made a post asking about how “principled” users believe the platform to be when it comes to free speech and its importance in a democracy.
Much to no one’s surprise, a whopping 70.4 percent of the over two million users who responded said that they don’t think Twitter believes in free speech.
Then, just a week later, it was announced that Musk now owns the majority of company shares. And since then, he has made a series of now-deleted tweets that suggest he has big plans for the company, such as turning the headquarters building into a homeless shelter and changing the way authentication checkmarks are given out.
Needless to say, employees are on pins and needles waiting for the preverbal other shoe to drop.
As Bloomberg reports, some have begun what is almost like support groups within the company to just “get through the week.” Other’s such as the company’s AI research team director Rumman Chowdhury says, “Musk’s immediate chilling effect was something that bothered me significantly.”
What all of this boils down to is that this company, which had discriminately hired and fired based on political viewpoints, is terrified of losing its power.
Currently, should someone say something they don’t like or share views that run contrary to their own, those posts can be deleted, users can be suspended, and even the president of the United States can be banned for life. Hell, the company has even admitted that should Donald Trump ever return to the White House, he will still not be allowed to use his Twitter account.
It has even been said that without Twitter’s censorship, much of the last few years would have turned out very differently. You know, like how people reacted to COVID, who won the 2020 presidential election, and all those race-fueled riots that the company did so well to only tell one side of.
As of right now, there is no real proof that Musk is going to do anything but make the social media giant sweat. And we are enjoying every moment of it.