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Elon Musk Launches Hostile Takeover Bid for Twitter

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Elon Musk Launches Hostile Takeover Bid for Twitter

Well, I don’t think anyone saw this coming, not in any realistic sense at least.

But evidently, Elon Musk is serious about his push to better align Twitter with free speech principles, with the billionaire Tesla CEO offering a full, $43 billion hostile takeover bid for the app.

As per Musk’s note to the SEC:

“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy. However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form.”

Musk has been a vocal proponent of free speech, and has often criticized Twitter’s moderation efforts, including its decision to ban former US President Donald Trump.

Last week, before it was revealed that Musk was buying up Twitter shares (which he’s actually been accumulating steadily since January), Musk noted that Twitter needs to adhere to ‘free speech principles’ to truly serve its purpose.

That’s seemingly the impetus for Musk’s takeover bid, with Musk now outlining a vague plan to take Twitter into private ownership, in order to reduce its reliance on shareholders and ad dollars, thereby enabling it to make truly independent decisions for the good of public debate.

“I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.”

Market analysts say that Musk’s offer is low, given that Twitter shares recently reached $70. But it could still be tempting, and it is enough to at least be taken seriously as a legitimate takeover bid.

If Musk’s takeover offer is accepted, Twitter will likely see significant changes, and really, all bets are off as to what then happens to the app. But if the bid is rejected, Musk has suggested that he will likely withdraw from the company completely.

 “If the deal doesn’t work, given that I don’t have confidence in management, nor do I believe I can drive the necessary change in the public market, I would need to reconsider my position as a shareholder. This is not a threat, it’s simply not a good investment without the changes that need to be made.”

It’ll be interesting to see if that also includes Musk deleting his Twitter account, which currently has over 81 million followers, and is a key media tool for the sometimes eccentric billionaire.

Following the revelation that Musk had become Twitter’s biggest individual shareholder earlier in the month (till Vanguard Group bought up more shares to overtake him), Musk began polling his Twitter followers on questions about how to ‘fix’ the platform. Musk was seemingly then advised to stop tweeting critical commentary, as a pending Twitter board member, which then lead to Musk withdrawing his interest in joining the board entirely.

It seems that Musk was dissatisfied with the response that he received from Twitter management, as he’s now looking to replace them wholesale, and start afresh with the company.

It’s an extraordinary move, and one that again raises questions about the disproportionate power of the billionaire class. Former Amazon CEO Jeff Bezos, for example, owns The Washington Post, and some have suggested that it’s now more favorable to Bezos’ positions in its editorial coverage (note: independent studies have found little to no evidence of bias in the Post’s reporting since Bezos’ acquisition).

Meta CEO Mark Zuckerberg holds significant power as the owner of several of the most utilized social media apps, while Apple and Google, while not independently controlled by a single wealthy founder in the same way, can also exert a level of control over media reach via their highly used digital properties.

In Musk’s case, he clearly doesn’t like what Twitter is doing, and being rich enough as he is, he’s seeking to do something about it, which could have significant consequences, in many ways.

On balance, I would say that the likelihood of Musk’s takeover offer being accepted is not high – but then again, I’d have never guessed that Musk would make such an aggressive push on Twitter shares, or indeed that he’d move into hostile takeover mode for the app.

So, who knows how this plays out? In some ways, it seems like just enough of an offer to be taken seriously, but not enough to be actually accepted.

But maybe Twitter will become ‘Tesla Social’, and memes and in-jokes about ‘420’ (note Musk’s offer price) and every other ‘edgelord’ trend will dominate in this new ‘free speech’ led cesspit.

It’s pretty concerning to think about – but maybe, this could actually happen, which could spell the end for Twitter as we know it.




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TikTok Encourages Creators To Make Longer Videos, With Focus On Ad Revenue 11/30/2023

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TikTok Encourages Creators To Make Longer Videos, With Focus On Ad Revenue 11/30/2023

With a need to expand its advertising business, TikTok is now fully focused on the output of long-form videos.

A new report by The Information shows the company’s recent efforts to convince
creators to put out longer videos in order to provide more room for ad placements.

According to the …



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X Adds Option To Embed Videos in Isolation From Posts

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X Adds Option To Embed Videos in Isolation From Posts

Next time you go to embed an X post, you may notice a new step:

Now, X will enable you to choose whether you want to embed the video element in isolation, or the whole post, as normal.

And if you do choose to embed just the video (or GIF), it’ll look like this:

Which could be a helpful way to present X-originated video on third-party websites, and add context to, say, your blog post, without the clutter of the full X framing.

But it could also reduce brand exposure for X, which is likely why Twitter didn’t enable this before, though it did once provide an “embedded video widget” which essentially served the same purpose.

X embeds

Twitter gradually seemed to phase that out as the platform evolved, and there’s no specific reason that I can find as to why it removed it as an option. But either way, now, it’s back, so you have more options for using X-originated content, and putting more focus on video elements specifically.

Though I don’t know why they didn’t also take the opportunity to remove the ‘Tweet’ reference. Since the re-brand to X, the platform seems to have gone to little effort to weed out all the tweet and bird terminology, but then again, with 80% fewer staff, that’s probably understandable as well.



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TikTok stars are using Fanova to generate income from social media

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TikTok stars are using Fanova to generate income from social media

Image courtesy of Fanova

Opinions expressed by Digital Journal contributors are their own.

In recent years, Latin American influencers and content creators have witnessed a remarkable surge in popularity. Despite boasting substantial and highly engaged fan bases, these influencers often find themselves in the shadows, overlooked for lucrative brand deals and partnerships. This oversight is especially pronounced, given their substantial influence over a diverse, global audience.

The moment is ripe for these creators to carve out a dedicated space where they can effectively monetize their exceptional talents. Such a platform would empower Latin American influencers and create fresh opportunities for profound collaborations and enhanced engagement with audiences worldwide.

This is where Fanova comes into play, revolutionizing the Latin American creator economy. In an environment where the creator market is still in its nascent stage, and many talented individuals remain underserved, Fanova is pioneering a new era for creators to make real money doing what they love.

Latin America’s creative minds have often found their potential hindered by a lack of opportunities. Fanova is here to break the barriers and provide a platform that allows them to monetize their content and recognize the value of their unique talents. The creator economy in the region is brimming with untapped potential, and Fanova seeks to unleash it. Creators with massive, loyal followings often find themselves unable to monetize their social media presence effectively or are overlooked by brand deals. Fanova aims to change that narrative.

With Fanova, creators have the freedom to set their monthly subscription prices, giving them the ability to provide exclusive content to their most devoted fans while ensuring a steady, reliable income month after month. Additionally, they have the flexibility to establish their own pricing for direct messages, creating a direct avenue for intimate one-on-one interactions with their followers.

By using Fanova, creators can deepen their connection with their audience by sharing a wide range of captivating content, such as behind-the-scenes glimpses, travel adventures, workout routines, insightful blogs, engaging podcasts, exclusive photos, and much more. It’s a dynamic platform that enables creators to monetize their craft and foster a stronger, more personal bond with their fan base.

Fanova is attracting top talent in the Latin American creator economy. Melissa Andress recently joined the platform. Renowned as @melissaandress on Instagram and @melipandaa on TikTok, Melissa boasts a significant and dedicated following of 1.6M and 13.7M followers, respectively. She uses Fanova to share daily behind-the-scenes of her life with her followers, treating it like a private story.

“I was immediately interested in the general concept of this platform: having a place to document behind-the-scenes content and not relying solely on brand deals seemed great to me,” Melissa explained.

Her impressive online presence has contributed to Fanova’s success in a significant way. Her engagement and credibility have introduced countless new creators and users to the platform.

Fanova is already leaving its mark in the Latin American creator economy, having attracted 150 creators. Even more impressive, Fanova has paid out over $100,000 to these creators. This is not just a promise; it’s a proven reality.

Fanova is a clean subscription platform, so nudity and explicit content is not permitted. The platform employs a team of moderators as well as artificial intelligence to monitor content.

For creators in Latin America, Fanova represents a new beginning. It’s an opportunity to be part of a transformative journey where your passion can be your paycheck. It’s a place where talent meets technology, and creators are valued. The new application is leading the charge to monetize content in Latin America, one passion at a time. For more information, visit www.fanova.io.



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