Elon Musk’s acquisition of Twitter, now rebranded as X, left many questioning his motivation. With a $44 billion price tag for a company some considered overvalued, Musk’s decision stirred curiosity and skepticism. However, in his recent interview on The Joe Rogan Experience, the billionaire and Tesla CEO opened up about the underlying reasons that led him to take on the social media giant. Musk cited concerns over the platform’s handling of free speech and personal intuition as key motivators behind his high-stakes decision.
Musk’s Unusual Observations: “Something Weird Is Going On Here”
In JRE episode #2223, Musk revealed that his high engagement on Twitter allowed him to quickly notice platform changes. “I was very attuned to like if they changed the system, I could tell immediately,” Musk shared. “And I’m like, something weird is going on here, you know? So, I just got increasingly uneasy.” As Twitter’s most engaged user, Musk sensed what he described as a peculiar shift in Twitter’s functioning, sparking his initial concerns.
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This shift became more evident when Twitter made the decision to ban then-president Donald Trump. Musk found the decision alarming, noting that Trump’s messages were encouraging peace, not incitement. He shared with Rogan, “When they de-platformed Trump—that was just insane. He was posting good things. He was saying, ‘Hey, do not riot, don’t destroy property, stay calm.’ And you’re like, What’s wrong with that?”
Musk Disagrees with Twitter’s De-Platforming Decisions
The Trump ban cemented Musk’s unease. He viewed Twitter’s decision as a sign of biased content moderation, which he felt misrepresented the intent of certain messages. Musk’s concern wasn’t just about Trump; he feared that free speech was under threat across the platform. This realization added to Musk’s growing belief that something had to change.
Joe Rogan Praises Musk’s Stand for Free Speech on X
During the podcast, Joe Rogan expressed gratitude for Musk’s intervention, framing it as a defense of free speech. Rogan voiced his appreciation for Musk’s willingness to buy Twitter, calling it a bold move in favor of First Amendment values. “It’s rare to see someone take such a personal and financial risk for the principle of free speech,” Rogan noted. Musk’s vision for X aligned with his commitment to open dialogue, even as the platform faced scrutiny.
A Costly Purchase with a Purpose
Despite the enthusiasm for free speech, Musk’s $44 billion purchase has faced economic challenges. The acquisition, according to Musk, was partly a rescue mission for freedom of expression. Musk explained, “I mean, the reason I did the Twitter acquisition was like—it’s like, man, if I don’t do this, I think we’re screwed, is the issue.” Since Musk took over, Twitter has been rebranded as X, and efforts are underway to introduce new revenue models. However, the platform’s profitability remains elusive.
Financial Struggles and Declining Valuation
Since Musk’s acquisition, X’s valuation has reportedly dropped by 78%, placing it at $9.8 billion—a stark contrast to the original purchase price. The platform’s struggle to maintain profitability, coupled with declining ad revenue, has only intensified the financial strain on Musk. While he has plans to diversify X’s income sources, including the rollout of X TV, the platform’s financial trajectory has yet to stabilize.
Musk’s Battle with Apple and the Future of X TV
X’s financial difficulties are compounded by Musk’s ongoing conflict with Apple, particularly regarding X TV’s availability on iOS. Although X TV has launched on platforms like Google Play, it remains inaccessible on the Apple App Store, limiting its reach. Musk’s efforts to expand X’s services hinge on navigating these tech industry challenges, but without Apple’s support, growth potential remains constrained.
Musk’s Vision for X: Is Profitability Achievable?
As Musk continues to steer X toward profitability, he faces a long road ahead. Despite his track record of building successful companies like Tesla and SpaceX, the challenge of turning X into a sustainable business is substantial. While Musk is optimistic about X’s future, he acknowledges that restoring the platform’s original valuation is a distant goal. He has taken significant steps to improve revenue streams, but the current landscape is fraught with obstacles, both financial and competitive.
FAQ: Key Questions About Elon Musk’s X Acquisition
Why did Elon Musk buy Twitter (X)? Musk purchased X primarily out of concern for free speech on social media. He felt that the platform’s policies were limiting open dialogue and that its direction under previous leadership posed risks to free expression.
What concerns did Musk have with Twitter’s moderation practices? Musk became increasingly uneasy with Twitter’s handling of controversial figures, particularly after the de-platforming of Donald Trump. He viewed the platform’s content moderation as inconsistent and biased.
How much is X (formerly Twitter) worth now? Following Musk’s acquisition, X’s valuation has reportedly dropped to around $9.8 billion, a significant decline from the $44 billion purchase price.
What new features has Musk introduced on X? Musk has rolled out features like X TV to diversify the platform’s revenue streams. However, X TV remains unavailable on the iOS App Store, complicating its success.
Can Musk turn X into a profitable company? While Musk has successfully built profitable companies in the past, the path to making X financially sustainable remains challenging. He’s working on diversifying revenue, but profitability will depend on overcoming several obstacles.
