Thread by @BiIndia

#ElonMusk decides not to join #Twitter’s board a week after becoming the largest shareholder of the company

businessinsider.in/tech/news/elon…

By @jainrounak

#ElonMusk has declined the appointment to #Twitter’s board of directors, a week after acquiring a 9.2% stake in the social media company. The announcement was made by Twitter's new chief executive officer, #ParagAgrawal.

The Tesla cofounder was earlier appointed to the board of directors of #Twitter, but on the day of his appointment going into effect, Musk declined the offer.

#ElonMusk

#Twitter shares are up 18% in April so far. On the day the news broke of Musk acquiring a 9.2% stake in the company, Twitter shares rose as much as 29%.

#ElonMusk

businessinsider.in/business/news/…

Interestingly enough, while Agrawal has been publicly welcoming of Musk’s appointment to the company’s board, he also stated that Musk declining the offer is “for the best”, which leaves room for interpretation, and why it took so long for Musk to deny the board seat.

#ElonMusk

Agrawal’s memo, sent to everyone in the company, also talks about tuning out the noise and with everything that Musk has been talking about on Twitter, it might be possible that there was some friction between Musk and Agrawal.

#ElonMusk

For instance, apart from the #EditButton, Musk has been talking about several things like #TwitterBlue, a premium service that gives access to certain features and customisations not available to other users.

#ElonMusk

Apart from this, Musk also posted that the #Twitter headquarters in San Francisco should be converted into a homeless shelter, since no one works out of the company’s offices there. While people thought this was banter, Musk clarified that he was serious about it.

#ElonMusk

Musk had also acknowledged the problem of #cryptocurrency spam on the platform, apart from saying how a #TwitterBlue subscription that gives a checkmark would help reduce the overall bot/spam problem on Twitter.

#ElonMusk