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Why did Elon Musk change his mind about buying Twitter?

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After much hype about buying Twitter, Elon Musk now wants to scrap the deal but experts warn it’s not that simple to walk away

Why did Elon Musk cancel the Twitter deal?

Musk is one of the richest people in the world.

And after much hype about taking over social media giant Twitter,

he now says he changed his mind.

He says the company has not complied with its obligations to share data and information. 

And has accused Twitter of making “false and misleading representations” through a prevalence of fake accounts.

Experts say that Musk doesn’t have the necessary legal ground to break off the US $44 billion dollar deal. And will most likely be fined a large sum.

Following the news, twitter said it plans to sue.

Elon Musk who is the CEO of Tesla and Space X initiated the deal to buy Twitter back in April

But it’s not only fake accounts that’s bothering Elon Musk who bought Twitter for around 54 dollars a share, and now shares are currently trading at 37 dollars.

Tech stocks have fallen in general

Twitter is clearly one of the most influential social media applications in the world.

And many call for it to be a platform for “free speech”

So it’s next owner, whether Elon Musk or not needs to be someone who signifies those values.

Business

It’s Musk v Twitter in tech war

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A war has broken out between Elon Musk in his battle against Apple.

In a tweet, owner Musk says Apple may ban Twitter from the App store, which would be devastating for his company, and wonders if it has to do with free speech. He even tagged Apple boss Tim Cook.

Musk says: “Apple has threatened to withhold Twitter from its App Store, but won’t tell us why.”

This all comes in the wake of other organisations allegedly following Apple’s suit and cutting back their advertising spending since the $44 billion Musk takeover.

General Mills and Pfizer have been two companies that have gone down this path and diverted their spending elsewhere.

Right now users can still see ads in their Twitter feeds.

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Tech

Porn floods Twitter “China” search

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Twitter users have been finding it hard to search for information on the social media platform due to an explosion of pornographic spam.

While thousands of protests against extended lockdowns, a digital bot army has roared into action on Twitter, with long-dormant Chinese language accounts suddenly tweeting links to escort services and other adult content.

Anyone trying to track the spontaneous protest movement on Twitter complained about the deluge of spam pornographic content making flooding the search for information.

The China protests come at a time when Twitter’s content and moderation teams have been pared back drastically following Elon Musk’s $44 billion takeover of the social media giant.

Twitter, along with other international social media services like Facebook, Snapchat and Instagram, is blocked by Beijing’s internet censors within Mainland China.

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Business

British lawmakers want to fine social media

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Social media companies could be fined if they don’t remove harmful content, according to a new plan from the UK Government

Lawmakers want to make it illegal to encourage users to harm themselves online.

It’s part of a crackdown on online behaviour on content that leads to self harm.

In a statement, Digital Secretary Michelle Donelan said these firms “can no longer remain silent bystanders”.

She says they’ll face fines for allowing this abusive and destructive behaviour to continue on their platforms.”

It follows the death of Molly Russell in 20-17, which sparked concern for harmful content online.

A coroner ruled social media platforms fed her content that “romanticised acts of self-harm”.

Sexually explicit materials will also be banned under the new policy.

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