The Twitter situation shows how True free markets haven’t been tried shirt .We need to fundamentally change the approach to corporate governance,” said Ms. Palladino, the Massachusetts professor. Mr. Musk has said he isn’t buying Twitter to make money (even as he claims that he has plans to “unlock” the company’s potential). That is arguably cause for concern. Public shareholders, like any other owner seeking to maximize profits, have a financial incentive to attract and maintain the broadest number of users. That means management needs to bar extremists, in order to avoid offending or driving away many more users, while seeking to prohibit as few others as possible, in order to increase the platform’s value to advertisers.
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On the other hand, it leaves the company’s management hostage to the whims of Wall Street, whose interests may not be well aligned with those of the broader public True free markets haven’t been tried shirt . Since his takeover bid became public earlier this month, Mr. Musk has been talking up his plans to promote Twitter as a bastion of free speech. On Monday, he said he hoped that “even my worst critics remain on Twitter, because that is what free speech means.” While Mr. Musk’s public comments so far have been soothing to champions of free expression, especially those on the right who claim that Big Tech has silenced conservative viewpoints, there’s no guarantee that Mr. Musk will continue to espouse those broad-minded views once he’s in control. Having forsworn the profit motive, Mr. Musk might not care whom he offends, either by welcoming extremists or by banning people who denounce him. This is a man who once called a rescue worker a “pedo guy” after the worker criticized Mr. Musk. He has been careful not to say where he would draw the line between free expression and hateful or violent speech, which Twitter’s existing management has, with a notably imperfect record, tried to curtail. In one sense, it’s easy to sympathize with the eagerness of the Twitter board to get out of this hornet’s nest while enriching shareholders. Turning down a takeover offer at a premium to the company’s current share price would have been a recipe for litigation. Accepting the bid was the path of least resistance, and Ms. Fisch said it was unlikely to be successfully challenged in court or held up by federal regulators.
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