, in his first public appearance since his $43 billion bid to purchase became public, said that he made the offer because "Twitter has evolved from the concept of a de facto town square, so it is just really important that people have the reality and the perception that they are capable of speaking freely within the limits of the law."
At TED 2022, Musk made the remarks, and said, "A New Era," which was also live-streamed.
Musk stated that he intends to "open source the algorithm" in order to increase trust in the platform.
This is not a way to make money, but my strong intuitive sense is that having a public platform that is broadened and widely inclusive is extremely important to civilization's future, but I don't care about the economics at all, Musk said, adding in a joke that "I'm not really sure I will be able to acquire it."
He added that he believed he would be able to make the deal, compared his offer to some other media and tech companies, which are already controlled by individuals or families like Meta CEO Mark Zuckerberg, according to Musk.
In a securities filing, Musk submitted texts to Twitter's board chair, saying, "I have decided I will acquire the company and take it private." "Twitter has immense potential. I will unlock it."
Musk has acquired his stake since late January, but only. Twitter responded by offering him a board seat, though Musk in a conversation with Twitter CEO Parag Agrawal.
In a TED conversation on Thursday, Musk framed his acquisition offer in unusual terms, suggesting that the move was vital to a "healthy democracy" as the United States.
He said that Twitter should comply with the country's legislation, but that it should be avoided. "If in doubt, let the speech, let it exist," he said. "If somebody you don't like is permitted to say something you don't like, it's damn annoying. "When somebody you dislike expresses something you dislike, that's a function of a good free speech situation."
Ayles Ayler explained that it was critical for people to have access to information about the algorithm, and that there are additional modifications being made.
I wont personally be in there writing tweets, but youd know if something was done, said the narrator.
The SpaceX and Tesla CEO, who has a net worth of over $270 billion, has been one of Twitter's most active and high-profile users for years. Most recently, he admitted to the SEC when he said in 2018 that he had secured financing to take Tesla private for $420 per share. He would then pay a fine and agreed to have a lawyer review his tweets before he sent them, although it's not clear whether or not he is following this guidance.
It's also unclear how serious Musk's offer is. Twitter's stock has failed to come close to $54.20 per share that Musk offered since it began trading Thursday, suggesting that investors don't believe it as likely to succeed.
We do not see internet and/or media strategic players coming to the table at this point, as a deal with the large Digital ad platforms [like Google, Facebook, or Amazon] would likely not pass regulatory scrutiny, said the CEO.
If Twitter's board of directors rejects his offer, Musk said Thursday that "there is" a "Plan B."