Elon Musk is a name that needs no introduction. He is a business magnate, investor, engineer and innovator who has been a major catalyst of change and disruption in the automobile, space exploration and solar energy industries. But there is one thing that has eluded him for quite some time and that is his attempt to purchase Twitter. Despite having more than 42 million Twitter followers and his participation as a major influencer in the social media, Elon has been unsuccessful in his attempt to purchase Twitter.
His active involvement with Twitter has been high-profile and have often amused, surprised, and gravely concerned the followers. But his ambition is something that not many know, that is, his plan to own Twitter. Elon Musk’s efforts to purchase twitter did not begin in 2021 or 2020. It didn’t begin in 2018 or early 2019 either. In 2017, Elon was trying to buy Twitter when the company was heading in a rather tumultuous direction. Elon didn’t need a bigger Twitter following. He wanted to own the social media platform.
In October 2017, Elon made an offer to purchase Twitter. The offer was not accepted and Twitter curtly refused Elon’s offer to purchase the platform. Twitter had a good run between October 2017 and May 2019, reaching its highest stock level of $47.79 in June 2018. Despite the company-wide turbulence between October 2017 and May 2019, it was clear that Twitter’s investors and executives had no interest in selling the social media platform despite the decline in its stock.
It was made clear by Twitter’s executives such as CEO Jack Dorsey, COO Anthony Noto, and CMO Leslie Berland that they were not interested in selling the company and they had no desire to make it easy for Elon to purchase the social media platform. They argued that Twitter was worth a lot more than Musk’s offer, and that there were many other options to grow the platform without giving up ownership.
Elon Musk attempted to purchase Twitter again in the summer of 2019. There was talk of potential offers from other potential buyers, including Salesforce, Microsoft and Google. But none of these deals ever materialized and there were rumors that Twitter’s board rejected Elon’s offer yet again. There were speculations that the price offered by Musk didn’t meet Twitter’s minimum criteria.
The story of Elon Musk and his attempt to purchase Twitter has taken many twists and turns over the years. Despite his numerous attempts, Elon has been unsuccessful in his quests. And it seems like he is resigned to the fact that he will never be able to own Twitter. But one thing is certain, the story of Elon’s attempt to purchase Twitter will intrigue in the coming years and beyond.
Political Impact of Elon’s Attempts
One the political side, Musk has been a vocal advocate of the need to address climate change and the advancement of renewable energy sources. It is no secret that by purchasing Twitter, he could have used the platform to shift public opinion and make a larger difference in the political arena. This could have had a significant impact in the time of the Trump presidency.
There were several reports that hypothesized that with Elon in control, Twitter would start to block out political advertising and works to limit the spread of disinformation. This could have been one of Musk’s motivators to purchase the social media platform. Despite the failed attempts to own Twitter, Elon was able to establish a platform outside of Twitter to promote his views on the need to address climate change.
In May 2018, Musk announced that he was canceling his Twitter ads. This was a bold move as Twitter was starting to be used for political as well as commercial purposes. Although most of the political campaign related ads were ineffective, this move by Musk was largely symbolic. It was also instrumental in setting the trends for other big companies and brands to follow suit and cancel their Twitter ads.
Long Term Effects of the Failed Attempts
Though Musk’s attempt to purchase Twitter was successful, the long-term implications of his failed attempt remains to be seen. Whether Tesla, SpaceX or other ventures, he has achieved success in various industries and with every try, he has proven that patience and perseverance and hard work is the way to success. His failed attempt to purchase Twitter was one such example.
Despite being unsuccessful in his attempts, Musk could learn a lesson or two from his failed attempts to purchase the social media platform. The untimely rejection of his offers to purchase Twitter may have hurt SpaceX, Tesla, and other ventures he was a part of in the short-term. But it could have helped him in the long-term, in a way that no other experience could have.
Perseverance is one of the core principles of Elon Musk’s business, and his failed attempts to purchase Twitter can be seen as a testament to that belief. Though his failed attempts to purchase Twitter may have thwarted some of his ambitions, the experience was certainly a learning experience for him and one that will help him develop better strategies in the years to come and refine the approaches he takes in business.
Elon Musk’s Impact on the Tech Industry
Elon Musk has made significant strides in the tech industry as well. The technology industry is one of the most disruptive and rapidly changing fields out there, with every new invention and innovation rapidly changing and transforming the industry. In this context, no one can deny the impact Elon Musk and his ventures have had on the industry.
From his disruptive electric vehicle company Tesla to his plans to colonize Mars, Musk has pioneered many technologies and ideas that have had a lasting impact on the tech industry. His investments in artificial intelligence and recent plans to launch internet-connected Starlink satellites has elevated the tech industry to a whole new level and changed the way we view the future of technology.
Other than the aforementioned, his work in the blockchain technology sector is yet another big accomplishment. His recent partnership with Block.one, a blockchain technology firm, is part of his ambitious plan to use blockchain technology to revolutionize the world economy. From his failed attempts to purchase Twitter to his current ambitious plans, one thing is for sure, the tech industry hasn’t seen the last of Elon Musk yet.
The Role of the Media in Elon Musk’s Attempts
The media has played an integral role in documenting and highlighting Musk’s attempts to purchase Twitter. While Elon’s reach as an individual is limited, the media served as a conduit to amplifying the news of his attempts to purchase Twitter. With every media house covering the stories, Elon’s attempts have always been in the public domain.
In the good old days, stories like these would have been stifled and never reached the public. Instead, the media houses played an important role in bringing the stories to the public. It was only after the media documented the attempts that it reached the public and made its way to the conversations.
The media was also instrumental in providing different perspectives and analysis of the attempts. This gave people an informed view of the events, what had transpired and what could have been. The media was also crucial in ensuring that the attempts did not slip into oblivion with time.
The Demoralising Effect of the failure
In spite of his failure to purchase Twitter, Elon continues to be one of the most influential figures in the business world. Even so, failure has a demoralising effect and this is especially true for entrepreneurs. With every failed attempt to purchase Twitter, Elon must have felt a sense of demoralisation. Undeterred by failure and courageous enough to try again, Elon Musk is a living example of the spirit of determination and resilience.
Failure does have a demoralising effect that one cannot ignore. But Elon Musk has managed to turn this failure into success in the past and could very likely do the same in the future. The same determination and resilience that he has shown in the past will come in handy in the future.
Elon’s attempt to purchase Twitter has been a rollercoaster of events and one that has provided valuable lessons to us. Even though he was unsuccessful in his attempts, it was one of the most talked-about events in the business world. It forced entrepreneurs, investors, and the wider audience to think about failure in a different perspective and taught us valuable lessons we will remember for a long time.
