close video Elon Musk’s Twitter acquisition is a ‘catastrophe of a deal’: Jeff Sica
Circle Squared Alternative Investments founder Jeff Sica discusses Big Tech earnings and why Musk’s potential Twitter deal is a bad idea on ‘Varney & Co.’
After Elon Musk acquired Twitter, there was a reported dramatic increase in usage of the N-word on the platform — the Network Contagion Research Institute said the term saw a 500% increase on the platform.
That caught the eye of LeBron James.
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LeBron James attends Netflix’s “Hustle” World Premiere at Regency Village Theatre on June 01, 2022 in Los Angeles, California. (Photo by Kevin Winter/Getty Images / Getty Images)
When Musk purchased the social media site, he wanted to make it a point to promote free speech — but the NBA superstar thinks Twitter users are now using that as an excuse to use hateful rhetoric.
"I don’t know Elon Musk and, tbh, I could care less who owns Twitter," he tweeted Saturday. "But I will say that if this is true, I hope he and his people take this very seriously because this is scary AF. So many d–n unfit people saying hate speech is free speech."
James' sentiments echoed those of many who were fearful that Musk's free speech promotion would lead to increased harassment on the site.
However, Musk said he bought Twitter to "try to help humanity, whom I love," while recognizing that the site "cannot become a free-for-all hellscape."
"The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence," Musk tweeted Thursday upon the acquisition becoming official. "There is currently great danger that social media will splinter into far right wing and far left wing echo chambers that generate more hate and divide our society."
Tesla CEO Elon Musk smiles as he addresses guests at the Offshore Northern Seas 2022 (ONS) meeting in Stavanger, Norway on Aug. 29, 2022. ((Photo by Carina Johansen / NTB / AFP/ Getty Images / Getty Images)
ELON MUSK’S TWITTER TAKEOVER MAKES THE LEFT LOSE IT: ‘IT’S LIKE THE GATES OF HELL OPENED’
When the deal became official, though, Musk tweeted "the bird is freed."
Musk purchased the platform for $44 billion, and the acquisition became official on Thursday, roughly six months after the deal was accepted.
A photo illustration with Twitter owner Elon Musk. (Getty Images/iStock / Getty Images)
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The Network Contagion Research Institute says, "Evidence suggests that bad actors are trying to test the limits on @Twitter. Several posts on 4chan encourage users to amplify derogatory slurs."