Elon Musk

Elon Musk's Twitter Takeover Has Started a Paradigm Shift in the World

Elon Musk

The greatest businessman ever

Yesterday, it became official news that Elon Musk acquired Twitter. This is truly groundbreaking news. But who is the real Elon Musk? There have been a handful of vastly successful billionaires like Andrew Carnegie and Jeff Bezos since the industrial revolution, but Elon Musk puts all of them to shame. At a $264 billion net worth, no other human has ever achieved the amount of wealth Musk has.

This really says something about his ability to execute a task. Musk's talent for managing people is also apparent given his numerous successes as a CEO. And in the process, the 'Dogefather' loves to interact with fans and meme, as opposed to most other billionaires who rarely (if at all) speak in public. He even was investigated by the SEC for a tweet saying "Tesla's share price is too high" on Twitter, which resulted in a 10% price correction on the same day.

Musk's life started out in South Africa, where he quickly developed an interest in computer programming and business at a young age. By age 12, he had already coded and sold his first video game. His intelligence was on continued display throughout school; graduating from the University of Pennsylvania, and even deciding to join Stanford. But, he ultimately dropped out of Stanford after just two days to launch his first startup company: Zip2.  It was an online software guide for cities that eventually turned into PayPal, which is currently a $100 billion company.

Eventually, in 2002, Musk launched one of the most important companies in the world: SpaceX. Without this company, NASA would pretty close to being screwed. In fact, without SpaceX's starship program, the manned mission to Mars would likely be doomed.

His biggest success, though, is without a doubt the electric car company Tesla. Started in 2003, Tesla is the largest EV company in the world, and recently in 2021, became the fifth company in history to hit a $1 trillion valuation.

Free speech means free speech

It is no surprise that Musk's deal ultimately went through with Twitter's management. They simply realized that the share price had been stagnant for a year, and people are fed up with their censorship. Elon Musk is a self-described free speech evangelist, frequently posting tweets criticizing "woke" politicians and others with power for their sneaky methods at stifling free speech.

In addition, Musk hinted at open sourcing Twitter's algorithms, meaning there will be no secrets into the way content is shown to you.

Now that Musk is the proud owner of Twitter, the days of threatening people's opinions through content labels and shadow bans are likely over.

 

Twitter Scam Bot
A typical Twitter scam bot

Scam bots and concerns over KYC

One of Musk's top goals concerning Twitter's new design is eliminating the scam bots that show up in the comment section of nearly every popular Tweet. He said he would encourage "human authentication," leading some to speculate that KYC requirements such as name, home address, etc. would be required to create an account.

However, this is just speculation and unlikely to happen. Musk has a clear desire to end digital censorship, and it's unlikely that he would implement such a controversial feature on a platform as big as Twitter.  A solution Michael Saylor is urging Musk to consider would be an "orange checkmark" feature, a variant of "blue checkmarks" allowing Twitter users to verify their identity by paying $20 in Satoshis (sats) on the lightning network. Another logical solution likely being considered would be a CAPTCHA test.

A new era for the world and crypto

It's obvious that Elon Musk's favorite cryptocurrency is Dogecoin. But, many people often forget that he and Tesla hold Bitcoin too. This shows that he is favorable of the entire industry and not a maxi of any singular coin (even while clearly loving Doge the most). As opposed to Twitter's previous failed attempts at integrating crypto like NFT profile pics, Musk will be incentivized to expand the capabilities of the platform for the entire crypto industry in an honest way like Dogecoin tipping and orange checkmarks.

The world will surely benefit from the "digital town square" idea that Elon is pushing with his new Twitter strategy. This is supported by all the radical users leaving the platform, effectively proving Musk's point.

Twitter is designed to allow you to share your every thought with the world, and now you can truly do that!

Cryptohopper