Business & Economy

Musk: I’m buying Twitter for the future of civilization

New York, Oct 27 (EFE).- Magnate Elon Musk on Thursday said in a Twitter post that he is buying the social network for “the future of civilization” as barely 24 hours remain before the deadline imposed by a judge to launch legal proceedings against him if the deal is not consummated.

The owner of electric vehicle manufacturer Tesla and space transport firm SpaceX directed his message to “advertisers” on Twitter to explain the reasons that led him to buy the firm, saying that he’s not acquiring the company to “make more money” but rather “because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in (a) healthy manner, without resorting to violence.”

However, Musk added that “Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences.”

He also said that advertising will have a relevant role in the social network’s operations going forward.

Once Musk posted his statement, Twitter shares jumped by 1.16 percent in early trading on the New York Stock Exchange.

The mercurial mogul – who is widely acknowledged to be the world’s richest man – said in his message that the social networks are running the risk of increasing the polarization of public opinion between the extreme right and extreme left, a morass into which traditional media outlets have also fallen, but he said he wants to contribute to overcoming that risk.

He said that, under his leadership, Twitter will be “adhering to the laws.”

The platform “aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise,” he told advertisers.

But he also said that ads on Twitter should be able to “delight, entertain, and inform” users, adding that “It is essential to show Twitter users advertising that is as relevant as possible to their needs. … Low relevancy ads are spam, but highly relevant ads are actually content!”

Musk wrote that Twitter should be “warm and welcoming to all,” enabling users to choose the kind of experience they want to have, comparing it to going to a movie or playing a videogame, depending on a person’s age.

EFE fjo/mvs/eat/bp

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