- Elon Musk long plans to buy Twitter completely.
- Buterin completely against Elon’s wishes.
- Points out all possible pessimism in the event it occurs.
It indeed has been a long time debate on what will happen if Elon Musk, the CEO of Tesla and SpaceX gets his hands on complete control of one of the most influential social media, Twitter. Elon Musk has openly many times stated his wishes to own Twitter as the largest shareholder, at the same time taking control over the social media.
However, as the event has not occurred yet, Elon Musk still does have the epic thought though. This particular Twitter buy-out has been a big controversy overall. In such terms, one of the hot stars upon the crypto industry, Vitalik Buterin, one of the co-founders of Ethereum (ETH) , puts out his views on Elon’s desire.
Don’t oppose Elon running twitter (at least compared to status quo), but I do disagree with the more generalized enthusiasm for wealthy people/orgs hostile-takeovering social media firms. That could easily go *very* wrong (eg. imagine an ethically-challenged foreign gov doing it) https://t.co/LDqjXh3xCK
— vitalik.eth (@VitalikButerin) April 15, 2022
In spite of all this, Buterin recently tweeted out his views abruptly on Elon Musk’s dive on conquering Twitter. Initially Buterin states that he doesn’t oppose the notions of Elon Musk on getting Twitter. However, he does have concerns on what might happen if such influential social media gets into the wrong hands.
Accordingly, Buterin states that such a social media getting into control by rich giants and wealthy organizations would be quite catastrophic. In such terms, he indirectly points out that if in hands of such people, Twitter would rather become completely controlled by one organization.
And so, all media getting posted would be in their favor alone, promoting themselves and their products alone. In the event such a thing happens, Buterin depicts that Twitter would eventually die out.
On the other hand, though Elon Musk just owns a stake of 9.2%, compared to Vanguard Group which actually owns 10.3%, the highest stake holder of Twitter. Also, Elon himself states that he may not be sure if his plans for Twitter may succeed or not.