The proponents of Elon Musk's bid to buy Twitter all describe the platform as a global public square whose health is essential for democracy. But Musk's efforts to exit the deal leave the company, and that public square, shakier than ever.
The architects and proponents of Elon Musk's bid to buy Twitter all describe the platform as a global public square whose health is essential for democracy.Musk's efforts to exit the deal leave the company, and that public square, shakier than ever., claiming he has been unable to verify Twitter's estimates surrounding fake accounts, among other grievances. Twitter's board said it would take Musk to court to force him to complete the purchase.
Armies of lawyers on both sides will now descend on a Delaware court to fight it out, with legal experts saying Twitter has the edge, given the original deal terms and language. Twitter may well get some money out of Musk — the $44 billion deal came with a $1 billion breakup fee — but it's less likely the court will actually force him to buy the company. It all hinges onAfter three months of Musk's vacillations and tweets, Twitter as an organization and a service has been seriously injured.
Employees at companies coping with this kind of takeover fight are at best highly distracted. At worst, the talent flees.The prospect of a titanic court battle won't help Twitter's leaders get more done.: In public statements back in April, Former Twitter CEO Jack Dorsey, current CEO Parag Agrawal and Musk himself all talked up the importance of preserving Twitter as an essential public resource, and Dorsey boldly praised the deal as the only clear path forward.
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