We all know that Elon Musk is trying to purchase Twitter. I think we’re all pretty doubtful that it will actually happen given the extreme measures that they have went through to refuse the offer, even going as far as initiating the “poison pill”.

The whole idea behind the maneuver is to prevent Musk from taking over the company.

This is what Twitter is doing: Over the next year, if any person or group acquires 15% or more of the company — whether Musk, Vanguard or an unexpected contender — it will trigger an option allowing shareholders to purchase new, discounted shares, thereby diluting the holdings of the hostile party.

According to SEC filings, Twitter’s poison pill has an exercise price of $210, allowing each shareholder to pay $210 to acquire stock “having a then-current market value of twice the exercise price.” As Bloomberg finance expert Matt Levine points out, that’s equal to $420.

It’s such an idiotic move by Twitter that was even criticized by the founder himself.

But here’s the thing, Musk has a Plan B.

During the TED2022 event last week, he stated that he has another plan in case this one doesn’t work. I think whatever his plan is, he’s going to do well with it and what will likely happen is that it will become more appealing than Twitter because this guy is a business man who is absolutely brilliant. He sees the flaws in Twitter and knows how to improve upon them.

So, the thought is that he’s going to create a competitor, and one of the rumors is that it will be a decentralized Twitter-like platform that is built alongside the founder of Cardano, Charles Hoskinson. Hoskinson recently told Musk that he would help him if his Twitter takeover fails.

This is exactly what we need to happen though. Thank God for Elon Musk. Honestly, though, we have one man in the world who is willing and able to shake up the world like this right now. We need Elon.

Sources:
CNET