|Earlier this month Elon Musk announced his offer of $43 Billion to buy Twitter. While the Twitter Board of Directors has taken steps to block Elon’s purchase of the company, Elon is expected to now go directly to the Shareholders with a tender offer. In a tender offer Elon buys shares directly from each individual shareholder until he has enough to gain control. Yesterday Elon announced that he has secured the necessary financing to pursue his acquisition of Twitter. |
Many people have asked how Elon’s purchase of Twitter will impact Social Media and our platform, CloutHub. Here are my thoughts;
|1. Elon’s offer to purchase Twitter and restore free speech and the Board’s attempt to block his purchase has crystalized how very real and serious the struggle is between those who support Free Speech and those who are pushing for censorship. We have moved a long way from when we wondered if shadow banning was a real thing. Those supporting censorship want to shut down what people can say, it was never about their community standards. Elon argues free speech is critical to a properly functioning society. Elon is right. |
2. With Elon and President Trump entering the social media arena, it will discourage additional new platforms from entering into the market place. The field of new alternatives will likely be limited to the alternatives already in the market for at least the next two to three years. The question will be which ones will succeed.
3. If Elon buys Twitter and restores it as the free speech online public town square with Free Speech it was originally intended to be, it will likely limit the future growth of the platforms designed to be Twitter alternatives such as Parler, Gettr, and Truth Social. To be a successful social media platform one must have hundreds of millions of users and that becomes less likely. Twitter itself maxed out at 336 Million users and is far less than that today while the other major platforms have gone on to exceed one or even two billion users worldwide
4. CloutHub has positioned itself to fill an unmet need in social media. An all-in-one platform with a much broader array of features and focus than a Twitter. At CloutHub, our view is the real value of social media is to bring society together, connect them to the things in life that shape their lives, create a strong sense of community for friends and family, and when life requires, enable our members through our features to work together, and address the issues that impact their lives, communities, freedoms and country. While Twitter serves as the modern day virtual town hall, CloutHub intends to serve as the modern day kitchen table or cafe. We believe social media should enrich lives and advance humanity.
Without Elon’s intervention, Twitter with its weak leadership and toxic culture of censorship would only continue to be relevant for a few more years before joining the fate of MySpace. Many believe Elon should just let Twitter die. Others suggest rather then spending the next 12 to 24 months of his valuable time fighting with Twitter’s leadership, and the entrenched Twitter employee bureaucracy and culture, Elon would do better to identify and support some of the newer platforms that are already aligned with his values, and are offering new and innovative solutions.
In any event, Elon is sending a message to the world and big-tech, that Free Speech is worth fighting for, and as the richest man in the world, he is willing to take a leadership role in that fight. No single individual alive today is doing more to advance the future of humanity in a positive way than Elon Musk. He has developed solutions for energy, transportation, space travel, and more. Now he is offering to spend $46 billion of his own money to make a stand for our Free Speech. I say Elon is a hero! What are your thoughts?
Jeff Brain, CEO CloutHub
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