Tech

Elon Musk hated Twitter’s free speech policy so much… he bought $3bn shares to take control

Published

3 years ago

April 5, 2022

Billionaire co-founder and Chief Executive Officer (CEO) of electric vehicle maker, Tesla,
Elon Musk, hated Twitter free speech principles so much he had to purchase a 9.2 percent stake in the company worth approximately $3bn, to take control.

As the shock of the acquisition begins to settle down after Musk purchased exactly 73,486,938 Twitter shares to make him the single largest shareholder in the social media company, past tweets by the world’s richest man have revealed he was so angry with the free speech policies of the platform that he bought over the platform.

Musk who now has four times the number of shares the company’s founder, Jack Dorsey, had always been critical of Twitter’s free speech principles and on several occasions, had called for censorship to be stripped back and even shared a tweet discussing this view.

“Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy,” he had once written.

“What should be done?” He added, with a poll which had majority of respondents giving him support, with some asking him to do something about it.

Free speech is essential to a functioning democracy.

Do you believe Twitter rigorously adheres to this principle?

— Elon Musk (@elonmusk) March 25, 2022

In another tweet shortly before buying the shares, Musk had insinuated that he could take over the platform with his followers not knowing he had already purchased his stake in the company at that point.

Experts have quickly drawn up the conclusion that his purchase of the Twitter shares was made with the aim of bringing about some significant changes at Twitter.

With Musk’s purchase of the shares, and the company stock shooting up by 25 percent within 24 hours of the announcement, investors are looking forward to sweeping, positive changes in the near future.

The consequences of this poll will be important. Please vote carefully.

— Elon Musk (@elonmusk) March 25, 2022

Musk is yet to tweet about his purchase of Twitter shares but his 80 million followers may not have to wait for long.

Related Topics:Elon Musk Featured Shares Twitter

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Tech

Fintech startup DigMo launched in Zambia to gamify financial planning

Published

22 minutes ago

November 24, 2024

Isaac Dachen

DigMo, a gamified fintech startup which helps users to build wealth tools from low to middle-income earners, has been launched in Zambia.

CEO of the DigMo Group, Sylvia Brune, who made the announcement, says the platform which is licensed by the Bank of Zambia to operate a wallet, offers a secure, free digital money account with a special account for users to play a financial planning game which incentivises customers to get started putting money away for the future.

“By giving customers the chance to win big rewards, DigMo is encouraging sustainable habits,” said Brune.

She stated that with an initial rollout in Zambia, DigMo wallet’s first offering, Save to Win, will make putting money away regularly, easy and rewarding with no fixed costs or fees.

“DigMo Save to Win allows users to start with small amounts – from just ZMW10 (US$0.37) – for the chance to win prizes of up to ZMW500,000 (US$19,000).

“We are committed to financial planning innovation for low and middle-income earners across Africa. To achieve this meaningful impact, we approach this like a game studio – where we constantly create and test many new products until we find those with an outsized impact,” Brune said.

“If we just take existing products and make them more affordable or accessible, it is unlikely that we can dramatically change behaviours.

“To succeed, we have engaged directly with users, observing and learning from them to develop DigMo, a solution that will dramatically improve their financial well-being and meet their unique needs,” she added.

Tech

Kenya’s startup BuuPass partners with GiftPesa to launch digital travel vouchers

Published

1 day ago

November 23, 2024

Isaac Dachen

Kenyan digital ticketing and transportation management solutions startup, BuuPass, has entered into a partnership with fintech company, GiftPesa, to introduce digital travel vouchers ahead of the holiday season.

In a statement by BuuPass cofounder and CEO, Sonia Kabra, the move will offer a more flexible and convenient way for Kenyans to manage and gift travel arrangements during the bustling holiday period.

“We’ve noticed a growing demand for digital solutions in the travel industry, especially during peak periods like the holiday season,” said Kabra.

“This partnership with GiftPesa enhances the travel experience for our customers, offering them a convenient way to send travel tickets as gifts and have a safety net for unconfirmed travel dates.

“Unlike traditional paper vouchers that can expire or get lost, GiftPesa vouchers are valid for 12 months and can be redeemed in parts at over 3,000 outlets across the country.

“This flexibility allows recipients to use the vouchers for multiple trips or select their preferred destination, making travel more accessible,” she added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a leading B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

GiftPesa, on the other hand, is a fintech startup that provides businesses and individuals with a platform for creating digital vouchers.

The partnership between the two companies will introduce digital travel vouchers, helping users manage and gift travel arrangements during the bustling holiday period.