should be a little Drunk to move the markets. Imagine if your previous purchase of a stock or token increased the value of that security simply because it became known. You exchanged.
The same is the case with Elon Musk and Twitter. As gaming-updates reported this morning, the famed tech entrepreneur “acquired a 9.2% stake in a company that is worth about $2.9 billion based on Friday’s stock price.” As I write to you this morning, Twitter shares are up 24.6% in response to Musk’s revelation that he has bought so much from the American social network.
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For Twitter, buying Musk will bring in billions of dollars of new market capitalization, meaning the social company will be harder to acquire and better able to do M&A deals because it has more value. Heck, the rise in stock prices, if it continues, is essentially a boost for Twitter employees, perhaps limiting the shortage of people in a tough job market.
If Musk didn’t go crazy with his Twitter share, he was just making a nice gift to the company.
But it’s rare for people to spend several billion dollars on entertainment — Musk probably has some goals tied to his roughly 10 percent share of Twitter. But at least they decided not to create their own vanity network.
With the exception of TikTok, the territory of the new social network seems a bit narrow. And those who carved their way to market share tended to do so by breaking new ground in digital human interaction rather than repeating what had worked before. TikTok made up for this by focusing on short videos and music, just like Twitter exploded with microposts. Instagram had a great idea with the image feed. you get the idea.
Copycat success has been rare, at least in recent years, especially among startups chasing the winning model. A good example of this is the regular attempts to replace Twitter. Remember the mastodon? Probably no. Have you used Getr, Truth Social or Parlor or Gab lately? Probably no. And yet there are plenty of companies trying to recreate the magic of Twitter.
Musk thought about a new social network in March after he posted unflattering criticism of how Twitter manages its service. But instead of buying something small or building something new, Musk bought shares in Twitter. which NowI