The road for Elon Musk’s companies in India has not been easy. Be it Tesla’s local plant or the Internet via Starlink satellites. A dispute arose between Kasturi and the Government of India. India is one of Twitter’s biggest markets. This microblogging site had 23.6 million Indian users in January 2022.
What did the Indian government say about the possession of masks?
The Indian government said Twitter’s change of ownership would have no impact. The company must comply with local laws as before. Minister of State Rajeev Chandrasekhar said ‘Who owns whom, what does the government have to do with it. Our laws and regulations apply to platforms, regardless of who owns them.
Musk, Twitter and India… more twists to come
Twitter’s relationship with the Indian government is not good. In 2021, the company took a stand with the Indian government to delete some tweets and accounts. The situation got so bad that Twitter India’s top executives were threatened with arrest. In July this year, Twitter filed a petition in the Karnataka High Court seeking exemption from certain blocking orders issued by the central government.
Musk said in July 2022 that India is Twitter’s third largest market. Musk also mentioned the ongoing litigation in India over the legal battle with Twitter. Musk alleged that Twitter had “initiated a dangerous legal process” against the Indian government. According to Musk, this was a violation of his contract with Twitter. Twitter denied this. The next hearing in this regard is scheduled to be held on November 16.
Government tightens surveillance on social media companies
The government has set up an appeal panel on social media platforms. If the contentious complaint is not satisfactorily resolved, the Government will constitute an Appellate Panel for further hearing. This panel will be constituted within three months to address people’s grievances related to social media. For this, the government has brought changes in the information technology rules. The central government will appoint a chairperson and two full-time members to this panel. If someone is aggrieved with the decision of the Social Media Platform Grievance Officer, he can appeal to this panel within 30 days. Thereafter, the Appellate Panel shall dispose of the complaint within 30 days.
Parag will get a compensation of Rs 345.72 crore
Parag Agarwal, who was fired as CEO of Twitter, will not go away empty-handed. Research firm ‘Aquilar’ said in their report that if Parag is removed within 12 months of the Twitter deal, he will get $42 million or around Rs 345.72 crore. This amount is estimated from the calculation of salary and share of Parag Agarwal. Parag was named CEO of Twitter in November last year following the resignation of company co-founder Jack Dorsey. He studied at IIT Bombay and Stanford University and started his job at Twitter when the company had fewer than 1,000 employees. Parag and Mask clashed last year over ‘content moderation’ policy.
Vijaya came into limelight by banning Trump’s account
Vijaya Gadde was handling issues related to Twitter’s policy and legal issues. Vijaya was born in Hyderabad and grew up in Texas. He attended Cornell and New York University. Vijaya joined Twitter in 2011. He came into limelight when he decided to ban former US President Donald Trump’s Twitter account. He suspended the New York Post account due to an exclusive story on US President Biden’s son Hunter’s laptop. Kasturi criticizes him on both counts.
Elon Musk earned 44.2 billionRaise the dollar like
- American billionaire Elon Musk has invested $27 billion in cash. For this deal, Musk sold Tesla shares twice – in April and August – and collected a total of $ 15.5 billion from it.
- Banks borrowed $13 billion. These loans were taken from Morgan Stanley, Bank of America, Barclays, Societe Generale, BNP Paribas, Mitsubishi UFJ Financial Group.
- Raised $5.2 billion from investment groups and other large funds. Among them is Larry Ellison, co-founder of software company Oracle, which received funding from Qatar Holding, Saudi Crown Prince Alwaleed bin Talal. Share these people on TwitterSeniors will stay.
Such fluctuations occurred from April to October
4 April 2022: Elon Musk has become the largest shareholder in Twitter with a 9% stake. Kasturi was offered a place on the Twitter board with a condition.
April 9: Musk tweeted, ‘Is Twitter dying?’ In response, Parag Agarwal called the criticism unhelpful. Then Musk talked about buying Twitter.
April 11: Twitter’s CEO announced that Musk will not be joining the Twitter board.
April 14: Musk offered $44 billion for Twitter.
April 21: Musk raised $46.5 billion in funding for Twitter.
May 13: Speaking about the fake account, Musk put his plans to buy Twitter on hold.
June 6: Musk threatened to break Twitter contract for information about bot accounts.
July 8: Musk said the company did not provide information about fake accounts.
July 12: After backing out of the deal, Twitter filed a court appeal against Musk.
October 5: Musk said the Twitter deal was moving forward.
October 6: The court asked both parties to reach an agreement and complete the deal by October 28.
27 October: Musk and Twitter complete $44.2 billion deal
After all, what do you want musk?
Under the deal, shareholders will be paid $54.20 per share and Twitter will now operate as a private company. Musk has been advocating several fundamental changes on Twitter since its inception. Musk said, I want a platform where people of all opinions can express their opinions freely. Musk announced the purchase of Twitter on April 13 this year. He offered to buy it for $44 billion. But then they put the deal on hold due to spam and fake accounts. Meanwhile, a Delaware court ordered the deal to be terminated by October 28. According to a report by The Washington Post, Musk may lay off 75% of the company’s 7,500 employees, or about 5,600 workers. However, when reached at Twitter’s office on Thursday, Musk denied the matter.
What is the plan of the mask?
- Twitter wants to be an all-in-one service platform where creators can make money, users can pay and shop.
- Users will be given the option of premium subscription. Dependence on advertising revenue will be reduced. You get options to edit tweets, monetize tweets, ad free twitter.
- Emphasis will be placed on creating a free speech platform. This will change the content moderation policy. Trump’s account was suspended under this policy.
Musk said he wants to make Twitter the best advertising platform where users of all ages can watch movies and play video games. This indicates that Twitter’s advertising policy may also change in the future. Musk clarified that not to make more money, but to help humanity, I worked with Twitter, so that our future civilization can have a common digital space, where people of different ideologies and beliefs can fight against any form of violence. Having a healthy discussion.