What HappenedThe largest consequence of Musk taking over Twitter may not be the specific policy decisions the Tesla, Inc. CEO would make, Buterin said in a tweet. Rather, it would be the effect of on Musk’s supporters “feeling emboldened and his detractors feeling like they are arguing on enemy territory,” Buterin said.
Why It’s ImportantMusk has repeatedly said he is a free speech advocate and will ensure that Twitter adheres to the principles of free speech. The proposed takeover has had a polarizing effect, with those against the takeover sharing their concerns about formerly banned accounts returning to the platform.
Ahead of the finalization of the deal, Buterin warned that when wealthy people or organizations take over social media companies, there is every possibility of them going very wrong. Buterin also said then he considers Twitter similar to a public utility, and there are many good reasons as to why the public should not be represented by any specific government.
Twitter closed Friday’s session down 0.18 percent at $49.02, according to BenzingaPro data.