Elon Musk defends Twitter acquisition amid backlash over $44B deal

Chief Executive Officer of SpaceX and Tesla and owner of Twitter, Elon Musk attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre on June 16, 2023 in Paris, France.  During the Paris VivaTech a href=https://www.youtube.com/watch?v=pd5blJN-OhIevent/a this week, Musk poked fun at himself amid the controversy. CHESNOT/GETTY IMAGES



By Bibhu Pattnaik


Elon Musk has faced widespread backlash following his $44 billion acquisition of Twitter. Many analysts believe he overpaid for the deal. The billionaire also came under fire for rolling out Twitter Blue at a subscription fee of $8 a month. 



During the Paris VivaTech event this week, Musk poked fun at himself amid the controversy and said, “If I’m so smart, why did I pay so much for Twitter then?” 

When asked about the rationale behind the purchase, Musk expressed concerns about Twitter’s impact “on civilization,” stating that he believed the platform was having a detrimental effect. 


Elon Musk defends Twitter acquisition amid backlash over $44B deal
When asked about the rationale behind the purchase, Musk expressed concerns about Twitter’s impact on civilization, stating that he believed the platform was having a detrimental effect. The social media company started removing large numbers of the blue verification check marks, or “blue ticks,” that had historically indicated a verified account. CHRISTOPHER FURLONG/GETTY IMAGES  

“I was concerned Twitter was having a negative effect on civilization and corrosive effect on civil society, and anything that undermines civilization, I think, isn’t good,” he told the audience.

“I felt Twitter kept moving in a negative direction, and my hope and aspiration was for it to be a positive force for civilization,” he explained. 

“I think if someone is a regular Twitter user, then most people would say their experience has improved,” Musk said. “We’ve gotten rid of 90% of bots, scams and various bad things happening. We’ve gotten rid of 95% of child exploitation material on Twitter, which was a shock to see some of what was going on for 10 years.”

While joking about himself, Musk said, “I’m definitely not evil.”

“I am definitely not evil ” – @elonmusk pic.twitter.com/N4GTzaJTTG

— Sir Doge of the Coin (@dogeofficialceo) June 16, 2023

Before attending the conference, the world’s two wealthiest individuals, Louis Vuitton’s Bernard Arnault and Musk, lunched together on Friday in Paris. They caught up for lunch at the Cheval Blanc, one of Europe’s most expensive hotels that offers a breathtaking view of the Eiffel Tower.

Produced in association with Benzinga

Edited by Maham Javaid and Virginia Van Zandt



The post Elon Musk Defends Twitter Acquisition Amid Backlash Over $44bn Deal appeared first on Zenger News.

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