Elon Musk may not be concerned about making money from Twitter. But his $44 billion deal for the social media network has bought what could be a Chinese political headache and impact profit at Tesla, says petesweeneypro
and slapped labels on state media tweets. It stopped taking advertising from government mouthpieces like Xinhua and declined to cooperate with Chinese government requests. Twitter also gives critics a global platform from which they lambast Beijing. The recently passed National Security Law explicitly targets seditious speech including on overseas websites. Twitter, like most foreign media, has not cooperated.
Unlike Twitter, which lost money in the last two fiscal years, Tesla is nicely profitable with an adjusted EBITDA margin of 27% last quarter. Free speech is a public good worth defending, but Tesla shareholders may pay a lot of rent for this patch of moral high ground.
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