Elon Musk purchases Social Media platform Twitter for $44B

By now, everyone knows the news that Elon Musk purchased Social Media platform twitter for 44 Billion dollars. The sale which seemed to happen overnight saw Musk, basically purchasing about 9 percent of Twitter stock, to rejected to join Twitter’s board of directors to moving to purchase the platform. In hopes to “allow free speech to reign” and “bring new features to the platform” as well as “verifying all humans” said Elon Musk in a press release.

So what now? What does it mean? What happens to Twitter now? Also, how does this effect the social media space — especially after seeing Facebook’s shift to Meta, and the swift shift in Instagram no longer showcasing user’s following, as a feed but opting for the sponsored posts and “you may like” feed. While the story unravels it does open up the dialogue and think pieces around the current news. With tweets pointing out Musk’s recent offer to the UN of providing 6 Billion if they could provide steps that could end world hunger and others stating how the possibilities could exists for everyone if they received the same treatment as Musk, as banks were willing to put together 44 billion dollars just for him to purchase Twitter.

Opportunities like this don’t really exist for those with plans to start a business. Loan options are difficult to obtain for some, even if there is dream and a plan to make the money grow, banks will still deny a loan that could possibly make the next million/billion dollar idea. Interestingly enough, as the man with a $260 billion+ network, its nothing for a bank to magically pull together 44 billion for him to use.

“Black Twitter ran the value up on all this social media shit,” - Comedian Karlous Miller tweeted.

When you take a look at a lot of the platforms, the discuss on the culture that brings attention to it and builds it up always arises. When platforms ditch their original plan for what Black Culture creates, it is constantly questioned, “Why don’t we have our own or create our own?” Facebook, originally started out as a tool for college student now a social media platform that incorporates ecommerce, advertisements and more. Clubhouse originally started as an app for venture capitalist to hold conference meetings now a tool for voice conversations and discussions on just about anything. The feature now a thing for Twitter with the addition of Twitter Spaces. A lot of features find their way accross social media platforms once it is made popular by Black Culture. The now discontinued Vine, made popular by a lot of Black Creatives saw their work recreated and reproduced and media attention given to White creators who copied their work. The rise of TikTok now sees platforms moving to add similar features, Youtube Shorts, Instagram Reels and the discontinued Twitter feature fleets. The question arises again, when do Black Creators gain the level of revenue or residuals from building up a platform that letter gets sold for billions?