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Elon Musk Buys Twitter Shares | Why Elon Bought Twitter | Elon Musk Is Twitters Largest Shareholder - YouTube
Channel: Nickolas Natali
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[Hook]:
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Elon Musk is now Twitterâs Baby Daddy
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Elon Musk, the king of doge.
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Head hauncho of the paypal mafia.
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Space expeditioner and now on the board for
Twitter?
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[Story]: Elon Musk has become the largest
individual stakeholder in twitter by amassing
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a 9.2% stake in Twitter.
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Roughly 7% more than Twitterâs co-founder
and former CEO Jack Dorsey, who will be leaving
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the board of directors this May.
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Heâs probably leaving due to some baby mama
drama.
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The baby being twitter.
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Mr. Musk bought bought (73,486,938) 74 million
shares of twitter and it cost him (2,447,115,035.40).
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Donât be concerned though.
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His net worth is 290B, he should be aight.
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Since his purchase twitterâs stock has gone
up around 26% so if he were to sell heâd
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make a cool one billion dollars off of it.
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Talk about a trader.
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He definitely played Yu Gi Oh as a kid.
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Heâs not done there though - with his 9.2%
ownership heâs earned himself a passive
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stake in the company, .08% shy of becoming
a principal shareholder.
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Hard to think this wasnât intentional.
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Howâs the public responding?
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Many are outraged and many are excited.
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Both sides seem to neglect the fact that although
he now has an insane amount of influence on
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Twitter he still needs the rest of the board,
soon to be 10 other people, to vote his way
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to make those changes.
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Now finally the juice of this conversation
is around Free Speech.
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You know what else is juicy?
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The fat like button down below, slap that
and subscribe if I brought you up to speed.
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Twitter has an odd relationship with free
speech.
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In fact they are notorious for being predominantly
left leaning, censoring and shadowbanning
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accounts that are right leaning, and have
not been shy to suppress tweets with conservative
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hashtags.
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Additionally, they do and can censor individual
tweets.
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Check out their interactions with governments.
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Twitter agreed to block anti-government tweets
in Egypt, Saudi Arabia, Bahrain - in my beloved
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Thailand, twitter removed tweets that were
seen as too critical of the monarchy, and
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made them invisible to thai users.
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People just tweeting into the abyss.
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Kinda like me - i be getting zero likes and
still shoot 'em out.
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That doesnât mean this do this in every
scenario or that they do this across the board.
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This simply shows they have the capacity to
censor individual tweets and that they do
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a great deal of censorship on the application.
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Where it gets dicey is - that twitter is a
company.
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Do they necessarily have to abide by our constitutional
first amendment right of freedom of speech?
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Ellen Pao, former CEO of reddit doesnât
think so.
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*Insert Ellen Pao*
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Or is
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it the
fact that despite the size of Twitter, they
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are still a company that is able to run their
company how they want to, and if they donât
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want a certain group of people with certain
opinions on it - they should be allowed to
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get rid of them or suppress their voice?
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Free speech is one of Americaâs greatest
assets - political, religious, and discourse
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from all sides on the more complicated topics
life has to offer is overall productive and
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pushes the needle forward.
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Hereâs a blurb from findlaw.com that I thought
was interesting when talking about Twitter
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functioning as a public forum:
âA primary cause for concern is that social
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media can often elicit controversial and emotional
discourse, which can quickly devolve into
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name calling, shaming, meme-ing, and much
worse.
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As such, it makes sense that a government
official or department would be able to restrict
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speech, or even access, to some individuals
in the public forum.
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However, doing so requires careful thought
and application of content neutral restrictions
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in order to not violate the First Amendment.
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For example, a constituent yelling obscenities
into the microphone at a public town hall
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meeting, or on social media, is likely to
be removed.
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However, an unpopular opinion posted on a
city government's social media page in response
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to a new city project cannot be deleted or
censored without violating the First Amendment,
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unless it violates content neutral restrictions.
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In most cases, of course, this is pretty obvious
stuff.â
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Back to Elon:
Elonâs relationship with Twitter and his
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free speech stretches beyond his poll asking
his followers if free speech is essential
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to a functioning democracy and if twitter
rigorously adheres to this principle?
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The SEC slammed down on Elon in 2018, after
this tweet and my guess would be a handful
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of others:
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Traveling back to today, Elon asked a judge
earlier last month to block an SEC Subpoena
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that is seeking information about Teslaâs
public-disclosure controls and to undo a set
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of court orders he and his company agreed
to in 2018, and to end the oversight of his
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tweets.
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Elon claims the SEC is harassing him with
excessively broad investigative demands and
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that the 2018 deal violates his right to free
speech and that he was coerced into that deal.
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He rejected the agencyâs arguments that
he freely agreed to the limits and that review
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of his tweets by a company securities lawyer
doesnât amount to government regulation
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of his speech.
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âIt is irrelevant whom the SEC has tasked
with this duty; Mr. Muskâs speech is restrained
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as a result of the SECâs prosecution just
the same,â he said in the federal court
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filing.
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The SEC has said it has a âlegitimate purposeâ
in investigating whether Tesla has institutional
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controls over its corporate disclosures and
if Musk is complying with them.
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Sounds like Elon has free speech top of mind
these days.
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Letâs speculate: Whatâs next for Elon
and Twitter?
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Big hustle and bustle about whether twitter
will get an edit button.
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Iâm not sure how this is such a pressing
issue when held side by side with freedom
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of speech but I thought this guys idea on
it was good:
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Should Twitterâs algorithm be open source?
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Open-source software is designed for public
access and modification that doesnât mean
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anyone can contribute to it - just means everyone
can see it and thereâs potential for people
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to contribute to the code if itâs approved.
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Iâd love to see this.
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It would be fascinating to see the spike in
companies hiring software devs simply to read
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the twitter algorithm to them lol.
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This, in my eyes, would land in the net positive
and help ensure accounts arenât wrongfully
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shadowbanned, banned altogether, and would
be an incredible move for transparency to
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the people.
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My predictions:
Edit button will happen.
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Open Source will most likely happen, but not
in the near future
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Bringing back DJT to the platform - unlikely.
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Now, it should be said - I havenât seen
any indication of Elonâs political leaning
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throughout this short stunt.
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Itâs apparent that the protection of Free
speech is important to him as it should be
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for every American.
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Every American should value free speech.
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The classification that I heard for Elon,
because we love to compartmentalize things,
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would be that heâs a free thinker.
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I donât think heâs playing to a political
side, he said it himself he is driven by curiosity
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and what is curiosity with limits?
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Also - I canât make a video about Elon without
including this amazing interaction between
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him and Elizabeth warren.
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Classic, or his thoughts on the world hunger
donation:
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Great reads, truly.
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What do you think will happen with Twitter?
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Give me your future predictions in the comments.
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Be sure to like and subscribe.
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Hit that notification bell.
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It helps the channel.
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You are loved, you got purpose.
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Iâll see ya next week.
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Bye.
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