Elon Musk the CEO of Tesla is set to purchase Twitter. This will be one of his many business ventures. Musk has also stated that he wants to change the popular social media platform. One promise was the relaxing of content restrictions. Musk claims he wants to promote free speech on Twitter and wants to include an edit button for posts. There also has been discussion about having an open source algorithm. Elon Musk also wants to target cryptocurrency scams on the platform. While it appears that Musk has some ideological motivation for buying Twitter, the real reason is business. Buying Twitter makes it easier for Musk to promote his other companies. The business elite do not support free speech or free expression when it interferers with profit. Twitter was bought by Elon Musk for a total of $43 billion. An investment of that type is not done for political reasons. Twitter still has a large amount of users and it could be expanded in various ways. The growing concern is the rise of the giant tech monopolies. New competitors can rise, but are at a disadvantage compared to Twitter and Facebook. Having a small business elite control social media platforms is a threat to press freedom and free speech. Large tech monopolies also reduce competition in a free market. This can cause economic complications, which reduce consumer choice . Another concern is related to employment. If the tech giants collapse the job loss will be immense. Elon Musk will certainly add more wealth to his net worth.
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