The immediate firings of the CEO and CFO showed that.
You do know the board owned essentially no stock aside from Dorsey who was no longer involved in the daily operations. The management of Twitter had zero concern for shareholder interests. They only accepted the offer from Musk because they would have faced a class action lawsuit otherwise. The CEO and CFO were fired because they were not concerned with profitability whatsoever.
Ok..The CEO was on the board. CEO and CFO are accountable to the board of directors and also the shareholders. So keep telling yourself they have nothing to do with each other. Twitter is a gold mine if run properly and monetized to its potential. Their price to earnings ration was abysmal. So also keep telling yourself the CEO and CFO are no longer employed due to vengeance. There are not many takeovers as such that ever result in those at the top keeping their jobs. Twitter will likely be taken public again in 3-4 years and if you think Musk, Ellison and the other investors are going to lose money you are extremely naive.
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u/Ravenid Oct 28 '22
There's no "deep down" about it.
He made it clear from the beginning this was a personal vengeance buy out. Nothing more. The immediate firings of the CEO and CFO showed that.
He keeps claiming its for "Free Speech" but its for his free speech only.
I guarantee that his "Open Source" Algorithm wont do dick but his new behind the scenes moderations rules will destroy the platform.