The extremely anticipated biography of tech mogul Elon Musk, written by Walter Isaacson, will likely be launched on Sep. 12. The proprietor of X, previously Twitter, Musk’s life and achievements will likely be explored intimately within the ebook.
What Occurred: In an unique excerpt from his new biography ‘Elon Musk,’ Isaacson writes in The Wall Street Journal the behind-the-scenes have a look at probably the most controversial choices of Musk’s profession.
The ebook delves into Musk’s notable determination to amass Twitter and explores the potential potentialities for Dogecoin DOGE/USD, in addition to the intriguing circumstances of his interplay with Sam Bankman–Fried. Listed here are some compelling excerpts that make clear these matters.
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In line with Isaacson, after it grew to become public that Musk was shopping for Twitter inventory, he reached out to Parag Agrawal, Twitter’s CEO, and organized a secret dinner assembly on March 31. Musk described Agrawal as “a very nice man,” however he believed that being likable was not a fascinating trait for a CEO. Musk said, “What Twitter wants is a fire-breathing dragon, and Parag isn’t that.”
Blockchain Social Media: Kimbal’s Concept
The following day, Musk had lunch along with his brother Kimbal, who recommended the thought of beginning a brand new social-media platform primarily based on the blockchain. Musk bought intrigued and even half-jokingly talked about incorporating Dogecoin, the cryptocurrency he had been funding, as a fee system for the platform. After lunch, he despatched Kimbal a number of texts increasing on the idea of “a blockchain social media system that does each funds and brief textual content messages like Twitter.”
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Blockchain Twitter and Musk’s “Nuts” Repute
Isaacson additionally writes about Sam Bankman-Fried, the founding father of the FTX cryptocurrency alternate, who expressed curiosity in becoming a member of the deal. Musk’s banker Morgan Stanley urged him to think about Bankman-Fried, who claimed he might present engineering experience for social media blockchain integration and make investments $5 billion within the undertaking.
Nonetheless, Musk believed that constructing a social community on the blockchain can be too sluggish for fast-paced Twitter postings. He responded to his banker by stating, “Blockchain Twitter isn’t attainable, because the bandwidth and latency necessities can’t be supported by a peer-to-peer community.”
After expressing curiosity in Musk’s plans for Twitter, Bankman-Fried proposed converting his $100 million price of Twitter inventory right into a stake in Twitter, as soon as Musk took it personal. Musk initially mentioned sure, however subsequent communication with Bankman-Fried didn’t go effectively. Bankman-Fried felt Musk appeared “nuts,” and because of this, he determined towards investing or changing his Twitter inventory.
Why Does It Matter?
Musk’s legal professionals finally satisfied him that going to trial would doubtless end in dropping the case, main Musk to shut the deal on the unique phrases. Regardless of initially expressing his frustrations in the direction of Twitter’s administration, Musk regained enthusiasm and acknowledged the corporate’s potential. He said, “The potential is so nice. There are such a lot of issues I might repair.” Musk agreed to formally shut the deal in October.
Over the course of two years, Isaacson immersed himself in Elon Musk’s world, shadowing him and intently learning his thoughts and each day actions. Isaacson carried out complete interviews with Musk’s household, mates, colleagues, and even rivals, aiming to grasp the multifaceted nature of one of many world’s best minds.
Preorders for Elon Musk’s biography at the moment are open on Amazon.
Worth Motion: On the time of writing, DOGE was buying and selling at $0.063, up 0.10% within the final 24 hours, according to Benzinga Pro.
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Elon Musk Wanted A Dogecoin Social Media System That Does Both Payments And Short Messages, Biography Reveals www.benzinga.com 2023-09-04 04:55:04
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