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Elon Musk Offers to Buy Twitter
According to a report from Reuters, Elon Musk has offered to buy Twitter for $41.39 billion.
Musk, who calls himself a free-speech absolutist, has been critical of the social media platform and its policies, and recently ran a poll on Twitter asking users if they believed the platform adheres to the principle of free speech.
“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” Musk added. Twitter will review Musk’s offer with advice from Goldman Sachs & Co and Wilson Sonsini Goodrich & Rosati, a source told Reuters. The company’s shares jumped 12% in premarket trading, while those of Tesla fell about 1%. The total deal value was calculated based on 763.58 million shares outstanding, according to Refinitiv data.
Obviously, this would be tantamount to completely gutting the application and starting over. Twitter has no obligation to free speech as it stands now.
Even better, I look forward to the idea that Twitter should be something people pay to use. Of course, if it costs money to use, most of its users would decide they’d rather spend their money on just about anything else. Even if Musk just turns it into a private company, I think many users may move on.
Twitter, unfortunately, must take Musk at least semi-seriously. He’s worth an estimated $273 billion, so it could happen. I just don’t really expect it to happen. I expect investors to decide the offer isn’t good enough, and that will be that.
Movies and Streaming
Peter Kafka, writing for Vox, peers into a crystal ball and sees where movie theater experiences and streaming are headed.
Going to the movies — with friends, with strangers — and enjoying something together in the dark for a couple of hours is a very specific experience, and it’s getting taken away from me. And from us: We are a country that does a lot of the same stuff, but we don’t do it much together anymore. We’re asynchronous and alone. Movies were an exception to that.
How did we get here? Slowly, then all at once: Yes, the pandemic forced movie studios, out of desperation, to stream movies they might have once tried to put into theaters. More importantly, the pandemic gave studios the ability to do something they had wanted to do forever — shrink the “window” of time between when movies debut in theaters and when you can see them at home.
In the old days, you used to have to wait three months to watch a movie at home. Even then, you had to buy it on DVD or pay to download it. Now the industry standard is a 45-day delay — at which point you can watch them on a streaming service you probably already subscribe to, like Disney+ or HBO Max. Not exactly free, but close enough — and, as Rich Greenfield, an analyst at Lightspeed Partners notes, enough to create a very powerful cycle: If it’s not a movie you’re dying to see in a theater, you can be rewarded for your inaction and get it at home weeks later. Which makes studios even less likely to try to get anything but a slam dunk in the theater to begin with.
Ultimately, Kafka thinks all of this will eventually mean a consolidation of streaming services and finding ways to keep people at home. The movie theater experience will be only for big budget extravaganzas like superhero movies and low budget horror films.
Aside from the streaming services being bought by each other, the rest of it is already happening. A movie on a streaming service won the Best Picture Oscar, it’s all over but the shouting.
Personally, I can’t wait until Disney buys DC Comics, Image Comics and the rest of them to put out the superhero movies people will love to go see. I’m also waiting for Apple to buy Netflix, but I’m not holding my breath on that one.
Gilbert Gottfried Dead at 67
Gilbert Gottfried, whose amazingly grating voice so perfectly illustrated his abrasive brand of comedy, is dead at 67.
“In addition to being the most iconic voice in comedy, Gilbert was a wonderful husband, brother, friend and father to his two young children,” the Gottfried family said in a statement on his Twitter account. “Although today is a sad day for all of us, please keep laughing as loud as possible in Gilbert’s honor.”
The Strange (but True) History of Easter
Stephen Johnson, writing for Lifehacker, has an amusing look into the origins of Easter.
Easter is weird.
To religious people, it’s the most sacred day of the year, a time for reflecting on the central miracle upon which Christianity is based. And, for children, a side of “a magical bunny stopped by last night and left a basket full of painted eggs and candy for you.”
The modern celebration of Easter is rooted so many sources—the Catholic Church, paganism, Judaism, the spring equinox—over so many centuries, it makes sense that it’s a little disjointed.
It’s pretty fun and entertaining.
Corrective Measures on Tubi April 29
Here are the articles I think you should read this week:
Until next time, I hope you all have a fine Easter, and today is a useful and reflective day for you. Take care.
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