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When Elon Musk first announced his deal to buy Twitter for $44 billion in 2022, the billionaire tech mogul believed his ownership of the company would restore freedom of expression to the masses and even help preserve humanity. (Seriously, that’s what was said!) Then, almost immediately, everything went sideways.
On the Small business radio show This week I interviewed Kurt Wagner, a Bloomberg journalist, who used his years of knowledge and experience covering social media to write the definitive book on the story of Twitter. In “Battle of the Bird: Jack Dorsey, Elon Musk, and $44 Billion Fight for the Soul of Twitter.” Curt offers a deep insider’s exploration of the key moments and decisions that led up to Musk’s $44 billion purchase of Twitter—and the legal and cultural chaos that soon followed.
We discussed in an interview:
- Why did Elon Musk buy Twitter?
- Why did he think he could “restore freedom of expression and preserve humanity”?
- Why Jack Dorsey’s relationship with Elon Musk is a major reason for the Twitter deal.
- How Twitter gained so much power over global discourse during Dorsey’s tenure as CEO.
- What is the source of Twitter’s downfall? “Twitter never figured out how to turn that massive cultural influence into a comparable business.”
- Why Jack Dorsey believes Twitter’s decision to become a corporation, rather than just a nonprofit, was Twitter’s “original sin.”
- How Twitter employees reacted to the sale and what happens now.
- Elon Musk doesn’t seem to understand the advertising industry, yet he bought a company that generates 90% of its revenue from advertising.
- Why did Elon Musk change Twitter’s name to X?
- Why despite its business difficulties, Twitter has been at its best during breaking news events.
Listen to the entire fascinating interview on Small business radio show About what happened on Twitter.
Image: Deposit images
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