{"id":3099,"date":"2022-04-06T14:43:23","date_gmt":"2022-04-06T14:43:23","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/04\/06\/elon-musk-tweeted-his-way-onto-twitters-board-now-what\/"},"modified":"2022-04-06T14:43:24","modified_gmt":"2022-04-06T14:43:24","slug":"elon-musk-tweeted-his-way-onto-twitters-board-now-what","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/04\/06\/elon-musk-tweeted-his-way-onto-twitters-board-now-what\/","title":{"rendered":"Elon Musk tweeted his way onto Twitter\u2019s board \u2014 now what?"},"content":{"rendered":"<p>Source: <a href=\"https:\/\/www.theverge.com\/2022\/4\/5\/23011810\/elon-musk-twitter-sec-board-member-moderation\">https:\/\/www.theverge.com\/2022\/4\/5\/23011810\/elon-musk-twitter-sec-board-member-moderation<\/a><br \/>\n<code><br \/><\/br><\/code><\/p>\n<div readability=\"150.2930176444\">\n<p id=\"ZW6XYO\">Ahahahahahaha fine. Longtime shitposter Elon Musk, who has a side gig as the CEO of Tesla, is on the board of Twitter, <a href=\"https:\/\/www.theverge.com\/22744728\/money-fandom-cryptocurrency-retail-trades-stocks\">a newly minted meme stonk<\/a>, after filing the wrong form with the Securities and Exchange Commission. <a href=\"https:\/\/knowyourmeme.com\/memes\/but-this-is-tremendous-content\"><em>Tremendous<\/em> content<\/a>.<\/p>\n<p id=\"Q6lUEl\">A different style of billionaire might elect to buy a national newspaper with a storied past and re-invest in it, just like he might secretly test his dick-shaped rocket for many years before publicly taking a ride on it. But despite owning Amazon, Jeff Bezos is somehow <em>less<\/em> internet-poisoned than the meme lord of Dogecoin. The true platform for brain worms isn\u2019t <em>The Washington Post<\/em>, despite its op-ed writers\u2019 best efforts. It\u2019s Twitter.<\/p>\n<div class=\"c-float-right\">\n<aside id=\"2Gnqxm\"><q>The platform\u2019s top shitposter already <em>has the keys to the castle<\/em><\/q><\/aside>\n<\/div>\n<p id=\"WXaZ3K\">Now, obviously, Musk has a <a href=\"https:\/\/www.readmargins.com\/p\/92-and-the-master-of-twitter?token=eyJ1c2VyX2lkIjoxODc0NDM1LCJfIjoiTm5hbk4iLCJpYXQiOjE2NDkxNzI3ODgsImV4cCI6MTY0OTE3NjM4OCwiaXNzIjoicHViLTY2ODMiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.KduMHQ8rZQF20BP-WfAye2SuOhGTrceXl5QJ2ZaIPVc&#038;s=r\">long and storied history<\/a> with Twitter, from SEC violations to defamation lawsuits to threatening journalists to stealing memes. Do you think Twitter is ever gonna successfully moderate its largest shareholder and board member? Like, sure, <a href=\"https:\/\/www.theverge.com\/2022\/4\/5\/23011558\/twitter-elon-musk-board-members-special-exceptions-moderation-rules\">Twitter spokesperson Adrian Zamora <em>says<\/em><\/a> they\u2019re \u201ccommitted to impartiality in the development and enforcement of its policies and rules\u201d and that \u201cour day to day operations and decisions are made by Twitter management and employees.\u201d As a practical matter, we\u2019ll find out if our friend Adrian is telling the truth, won\u2019t we?<\/p>\n<p id=\"51CToJ\">Because here\u2019s the thing: I notice Musk is <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2022-04-04\/elon-musk-bought-some-twitter\">already doing some light trolling<\/a> about Twitter products, with a handy assist from Twitter CEO Parag Agrawal! Specifically, Musk is <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1511143607385874434\">polling to ask if Twitter should add an edit button<\/a>, and Agrawal has said the poll will have <a href=\"https:\/\/twitter.com\/paraga\/status\/1511152454418644995\">important consequences<\/a>. I mean, that\u2019s not tweeting disinformation or anyone\u2019s home address or anything that\u2019s an obvious ToS violation \u2014 but it does suggest that some operations and decisions, um, may be made by Musk, actually. The platform\u2019s top shitposter <em>already<\/em> <em>has the keys to the castle<\/em>, and he\u2019s gotten them in a way that\u2019s specifically a thumb in the eye of the SEC. We love to have fun on Twitter dot com!<\/p>\n<p id=\"tXsRO0\">Let\u2019s talk about that form for a second. If you are, let\u2019s say, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-02-29\/singer-s-elliott-is-said-to-seek-to-replace-twitter-ceo-dorsey\">Elliott Capital Management<\/a>, and you\u2019ve bought into Twitter to institute some <em>shareholder activism<\/em>, you fill out a form 13D, in which you disclose the purpose of your buy (e.g., kicking out Jack Dorsey, making Twitter more profitable). But if you are a large institutional investor from, let\u2019s say, the imaginary firm Ride the Lightning Capital, and you\u2019re just going to own a chunk of Twitter passively, you fill out a form 13G. <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/0001418091\/000110465922041911\/tm2211482d1_sc13g.htm\">Musk\u2019s purchase was disclosed on a form 13G<\/a> he filed the same day as he signed the paperwork to join the board. <\/p>\n<div class=\"c-float-left\">\n<aside id=\"xV6OU1\"><q>Twitter now has a fandom: Musk\u2019s<\/q><\/aside>\n<\/div>\n<p id=\"lqeeDO\">Now, I can\u2019t speak to Musk\u2019s intent. Maybe that was an honest mistake, I don\u2019t know! I do know that he\u2019s tweeted that SEC is an acronym, and the E stands for \u201cElon\u2019s.\u201d He\u2019s not <em>above<\/em> tweaking the SEC \u2014 he\u2019s <a href=\"https:\/\/www.theverge.com\/2018\/12\/14\/18139544\/elon-musk-60-minutes-tesla-sec-investigation-fine\">gone on <em>60 Minutes<\/em><\/a> to inform us he doesn\u2019t respect it, you know?<\/p>\n<p id=\"CTZQCp\">If Musk is trolling, though, this is sharp. Like, <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2022-04-05\/elon-musk-got-a-twitter-board-seat\">maybe he\u2019ll get a fine or something<\/a>, but the SEC\u2019s job is to protect shareholders, right? It\u2019s why Musk and Tesla <a href=\"https:\/\/www.theverge.com\/2022\/3\/8\/22967122\/elon-musk-tesla-sec-tweet-court-subpoena-investigation\">got fined<\/a> for his <a href=\"https:\/\/www.theverge.com\/2018\/9\/27\/17911428\/sec-lawsuit-elon-musk-tesla-funding-tweet\">\u201cfunding secured\u201d tweets<\/a> but Musk remained as CEO \u2014 removing him would arguably harm shareholders more than letting Musk yolo his little heart out. Musk is valuable! The disclosure of his stake in Twitter <a href=\"https:\/\/www.cnbc.com\/2022\/04\/04\/twitter-stock-on-track-for-best-day-since-ipo-after-musk-buys-in.html\">sent shares up 27 percent<\/a>, a cute lil pop for a social media company that\u2019s getting <em>absolutely clobbered<\/em> by TikTok and the company formerly known as Facebook. So if the SEC is like, \u201chaha, you are <em>definitely<\/em> not going to be on the board of Twitter,\u201d it\u2019s probably wise to assume the stock will fall! And shareholders will get hurt! <\/p>\n<p id=\"lBWELF\">See, Twitter now has a fandom: Musk\u2019s. Musk has wandered into Twitter well after it became a public company, is a prolific \u2014 one might even say flagrant \u2014 user of its product, and presumably brings a number of retail investors trailing him. It\u2019s not just that. <a href=\"https:\/\/twitter.com\/b_fung\/status\/1511335664024965126\">CNN reporter Brian Fung noted<\/a> that Musk also has the freedom to pick fights with Twitter\u2019s enemies under the cover of \u201cElon being Elon.\u201d<\/p>\n<p id=\"7SUgCH\">Well, I expect Twitter to double down on being Twitter. Spaces has been a tremendous success, especially with the cryptocurrency-curious. There\u2019s also the NFT profile pics. Musk, of course, is known for being enamored of Dogecoin, to say nothing of Tesla\u2019s <a href=\"https:\/\/www.theverge.com\/2021\/5\/12\/22433153\/tesla-suspend-bitcoin-vehicle-purchase-cryptocurrency-elon-musk\">brief foray into Bitcoin payments<\/a> for its cars. Perhaps now that Dorsey is no longer CEO, Musk can get Twitter to accept <a href=\"https:\/\/www.theverge.com\/2021\/7\/21\/22587390\/spacex-tesla-bitcoin-musk-dorsey-ethereum-dogecoin\">Bitcoin as payment for advertisements<\/a>. Maybe this will be <a href=\"https:\/\/www.theverge.com\/2021\/5\/17\/22440425\/elon-musk-impersonator-cryptocurrency-bitcoin-twitter-scam-report-ftc\">the impetus Twitter finally needs<\/a> to get rid of Musk-related <a href=\"https:\/\/www.theverge.com\/2018\/3\/8\/17096128\/twitter-vitalik-buterin-elon-musk-cryptocurrency-scams\">cryptocurrency scam spam<\/a>!<\/p>\n<div class=\"c-float-right\">\n<aside id=\"s0Blwk\"><q>Musk doesn\u2019t just have the ear of the CEO \u2014 he gets to do his performance evaluations!<\/q><\/aside>\n<\/div>\n<p id=\"UiZpVf\">I wonder if Twitter will now consider cryptocurrency users its main constituency, particularly if they are more likely to pay for its products. Rather than focusing on acquiring more users, Twitter may just try to extract money from its most lucrative users. This isn\u2019t <em>that<\/em> weird of a strategy \u2014 actually, Musk\u2019s old company, PayPal, outlined <a href=\"https:\/\/www.cnbc.com\/2022\/02\/01\/paypal-pypl-q4-2021-earnings.html\">something similar on its last earnings call<\/a>.<\/p>\n<p id=\"ojIwP4\">On a practical level: Musk has also said that <a href=\"https:\/\/www.platformer.news\/p\/elon-musks-twitter-play\">he wants less moderation on Twitter<\/a>, which, like, may not be great for shareholder value, <em>Platformer\u2019s<\/em> Casey Newton points out. (Most users like moderation, it turns out.) But now that Twitter is a meme stock, traditional measures of shareholder value, um, may not apply. It\u2019s possible Musk\u2019s involvement will make <a href=\"https:\/\/twitter.com\/anildash\/status\/1511324711908777988\">journalists less likely to use the platform<\/a>, given his history of <a href=\"https:\/\/www.thedailybeast.com\/what-its-like-when-elon-musks-twitter-mob-comes-after-you\">sparring with journalists online<\/a>. I\u2019m sure there are some people out there wondering if Musk\u2019s position on the board means he might be able to get access to their DMs.<\/p>\n<p id=\"KHiNuR\">Which is sort of the crux of the thing, I guess? On the one hand: Musk has a fandom, and now Twitter has a fandom, too. On the other: Twitter is notorious as <a href=\"https:\/\/www.nytimes.com\/interactive\/2019\/08\/15\/opinion\/gamergate-zoe-quinn.html\">a platform for harassment<\/a>, and Musk has indicated that he wants <em>even less moderation<\/em>. On some theoretical third hand: the SEC is looming in the background. Regardless of whether people\u2019s worst fears come to pass, this is revolutionary new territory for shitposters everywhere. Musk doesn\u2019t just have the ear of the CEO \u2014 he gets to do his performance evaluations!<\/p>\n<p id=\"sxCasT\">Still, when you make your hobbies your job, you run the risk of making something that was once fun feel like drudgery. One possible outcome is that Musk\u2019s position on the board makes him back away from shitposting for the exact reason many people spend a lot of time on Twitter in the first place: he wants to avoid doing work.<\/p>\n<\/div>\n<p><code><br \/><\/br><\/code><\/p>\n<p>Source: <a href=\"https:\/\/www.theverge.com\/2022\/4\/5\/23011810\/elon-musk-twitter-sec-board-member-moderation\">https:\/\/www.theverge.com\/2022\/4\/5\/23011810\/elon-musk-twitter-sec-board-member-moderation<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Ahahahahahaha fine. Longtime shitposter Elon Musk, who has a side gig as the CEO of Tesla, is on the board of Twitter, a newly minted meme stonk, after filing the wrong form with the Securities and Exchange Commission. Tremendous content. A different style of billionaire might elect to buy a national newspaper with a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3100,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[53,8],"tags":[54],"class_list":["post-3099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-apps","category-technology","tag-apps"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Elon Musk tweeted his way onto Twitter\u2019s board \u2014 now what? - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2022\/04\/06\/elon-musk-tweeted-his-way-onto-twitters-board-now-what\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elon Musk tweeted his way onto Twitter\u2019s board \u2014 now what? - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source: Ahahahahahaha fine. Longtime shitposter Elon Musk, who has a side gig as the CEO of Tesla, is on the board of Twitter, a newly minted meme stonk, after filing the wrong form with the Securities and Exchange Commission. Tremendous content. 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Longtime shitposter Elon Musk, who has a side gig as the CEO of Tesla, is on the board of Twitter, a newly minted meme stonk, after filing the wrong form with the Securities and Exchange Commission. Tremendous content. 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