Along came Elon Musk, the mercurial, visionary billionaire with a novel idea: Let’s take Twitter private and fix its business problems away from the constant public scrutiny.
The result, quarter after quarter, year after year, has been wonky revenue, sputtering user growth andAmid all this, Twitter knew it needed to be sold and began a futile attempt to shop itself; Disney, Salesforce and more passed after looking at the books.
Then along came Elon Musk, the mercurial, visionary billionaire with a novel idea: Let’s take Twitter private and fix its business problems away from the constant public scrutiny. Musk’s agenda may seem revolutionary, but only inside the progressive bubble that dominates media and: Let opposing viewpoints proliferate; verify users to combat trolling; maybe start charging a nominal fee, even if it hurts Twitter’s already-weak user growth .
Most of all: Long-suffering shareholders will finally get paid. Ignore the $77 high in the stock last year; that was primed along with the rest of the market byTwitter’s IPO priced at $26, settled its first day of trading at $44.90, about where it was before Musk said he would pony up $54.20 a share for the company. When the Fed starts to tighten, who knows how low Twitter will fall.
Sounds like a great deal, particularly for those smart techies who run Twitter and sit on its board, right? Who else is willing to pay that kind of money for something that has never consistently made money? No one, it seems, because no one has so far stepped up to the plate.
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