Elon Musk, the CEO of Tesla and SpaceX, chose to cancel his $44 billion contract with Twitter and hasn’t stopped tweeting about anything else for the past 24 hours. The richest man in the world is occupied sharing memes and discussing drones as the rest of the world tries to understand why Musk had such a dramatic change of heart.
Musk responded in a tweet to a different user who had posted a video of US Vice President Joe Biden discussing reproductive rights. The tweet said that when asked to repeat a sentence, Biden “accidently reads the bit on the teleprompter” that says “repeat the line.”
The Tesla CEO responded to this by using the meme, “Whoever controls the teleprompter is the true President,” in response.
Musk ran a Twitter poll to gauge the opinion of his followers before deciding to purchase the business. The next day, he made the big announcement on the microblogging platform itself.
Musk, who typically tweets out anything and everything, also discussed drones and made light of the recent media attention around his two newest children. On the microblogging platform, he is followed by more than 100 million people.
Elon Musk, meantime, has been making headlines on Twitter since since he backed out of the massive contract with the microblogging service yesterday night, claiming the firm made “misleading claims” about the quantity of spam bots using the service.
According to Musk, the number of spam accounts on Twitter is likely much higher than the 5% claimed by the social media company in its SEC (Securities and Exchange Commission) filing. Musk also emphasized that the method used to calculate the number of spam accounts appears to be “arbitrary and ad hoc.”
Musk added that Twitter did not do its regular business as usual. According to Musk’s letter, which was included in a regulatory filing, “the company has not received parent’s authorization for changes in the conduct of its business, including for the precise modifications stated above.” He called this a “material breach” of the merger agreement.
The San Francisco-based business implemented a hiring freeze, let go of key executives, and had other significant departures.
The battle between Musk and Twitter, according to a media report, boils down to three words: “Material Adverse Effect,” which Musk’s attorneys claimed in the regulatory filing.
The richest man in the world will now be sued, according to Twitter. Twitter’s chairman, Bret Taylor, stated, “The Twitter Board is committed to executing the deal on the price and terms agreed upon with Mr. Musk…,” opening the door for legal action to enforce the merger agreement.
