Hillicon Valley — Five things to watch on Musk’s Twitter deal

Elon Musk’s acquisition of Twitter is raising questions about how it will impact the company, American politics and online communication.  

Meanwhile, positive COVID-19 tests from Democratic senators and Vice President Harris is further delaying a vote on President Biden’s nominee to fill a vacant Federal Trade Commission (FTC) spot.  

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What to watch as Musk acquires Twitter 

Elon Musk and Twitter’s board on Monday agreed on a deal for the eccentric Tesla CEO to acquire the company at $54.20 per share in cash.  

The marriage of the world’s richest man and one of the most influential social media platforms — of which he is an active user -— has left questions about how the company will be run, what it means for American politics and the dissemination of information in general.   

Here are five things we’ll be watching as details of the company’s new makeup become public: 

1. Will banned users return?

Musk has laid out a more relaxed vision for content moderation that would lean toward temporary “timeouts” over permanent bans.   

Advocacy groups are concerned that this switch could reverse Twitter’s permanent bans on public figures and politicians — including former President Trump.   

2. Leadership changes: While Musk and Twitter did agree on a deal for taking the company private on Monday, the purchase itself may take until the end of 2022 to wrap up while shareholders vote on the agreement and regulatory hurdles are cleared.  

During that time, CEO Parag Agrawal and the independent board that approved the offer will remain in charge of Twitter. 

3. How could the product change?: Major changes are likely to wait until the deal is completed.   

Musk has given some hints to what those could look like beyond his commitment to “free speech.” 

4. Washington’s ire: Lawmakers on both sides of the aisle are using Musk’s takeover to fuel their respective battles against powerful tech companies.   

Republicans are embracing Musk as an ally in their fight against “Big Tech.” 

5. How will Twitter’s workers respond?: Twitter has long been known as one of the most open places to work in Silicon Valley.  

Workers have been encouraged to share their thoughts and feelings on the platform for years. Many of them did just that Monday as news of the deal broke, expressing confusion and dismay. 

Read more here.  

COVID ABSENCES FURTHER DELAY FTC VOTE 

The vote on Alvaro Bedoya’s nomination to the Federal Trade Commission (FTC) is expected to be further delayed due to COVID-19 linked absences in the Senate, according to a senior Senate Democratic aide. 

Sens. Chris Murphy (D-Conn.) and Ron Wyden (D-Ore.) and Vice President Harris all tested positive for COVID-19 on Tuesday.  

Republicans have broadly pushed back on Bedoya’s nomination to the FTC, leaving Democrats in need of all senators and Harris present to secure his confirmation.  

The Senate aide said absent to an objection by Republicans, the Senate is expected to delay the consideration of Bedoya to a later date.  

The Senate Commerce Committee advanced Bedoya in a vote along party lines in March, after delays based on Sen. Ben Ray Luján’s (D-N.M.) absence while he recovered from a stroke.  

As he awaits confirmation, the FTC remains split along party lines, thwarting Democrats from pushing forward with their full agenda.  

EU WARNS MUSK

Thierry Breton, the European Union’s commissioner for the internal market, tweeted Tuesday that Tesla CEO Elon Musk, who just secured a deal to buy Twitter, will have to comply with the commission’s rules on moderation.  

“Be it cars or social media, any company operating in Europe needs to comply with our rules — regardless of their shareholding,” Breton tweeted. “Mr Musk knows this well.” 

“He is familiar with European rules on automotive, and will quickly adapt to the Digital Services Act.” 

Read more here. 

BITS AND PIECES

An op-ed to chew on: Elon Musk’s Twitter purchase brings free speech into sharp focus  

Lighter click: happy carrot time 

Notable links from around the web: 

What Elon Musk’s battles with Washington might mean for Twitter (Politico / Emily Birnbaum) 

How to Become a MAGA Rap Kingpin (Without Believing What You’re Saying) (Rolling Stone / Alice Hines) 

Facebook Doesn’t Know What It Does With Your Data, Or Where It Goes: Leaked Document (Motherboard / Lorenzo Franceschi-Bicchierai) 

One last thing: Truth Social struggles 

Shares that are tied with the company funding former President Trump’s latest social media venture, Truth Social, took a dive on Monday after social media platform Twitter announced its deal with Tesla CEO Elon Musk.  

CNBC reported that Digital World Acquisition Corp.’s shares fell to nearly 13 percent on Monday, bringing the company’s year-to-date losses to more than 30 percent.  

Truth Social, which officially launched in February, was created by Trump after he was permanently banned from multiple social media platforms such as Facebook and Instagram for actions involving the Jan.6 insurrection at the Capitol, CNBC noted. 

Read more here.  

That’s it for today, thanks for reading. Check out The Hill’s Technology and Cybersecurity pages for the latest news and coverage. We’ll see you tomorrow.

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