BREAKDOWN: Is Elon's 9.2% Stake in Twitter a Web 3 Play?

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4.7 • 698 Ratings

🗓️ 4 April 2022

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

Elon Musk’s $3 billion bet has many speculating about who might be unbanned. This episode is sponsored by Nexo.io, Arculus and FTX US. Elon Musk has been talking about Twitter a lot lately. He did a poll asking whether it should make its algorithm open source (80% said “yes”). Another poll asked if Twitter lived up to the principles of free speech, and over 70% of more than 2 million respondents said no. With the announcement today that Musk had purchased a 9.2% stake in Twitter (more than 4x the 2.25% stake of co-founder and former CEO Jack Dorsey), everyone is speculating about what he might do about it. - From cash to crypto in no time with Nexo. Invest in hot coins and swap between exclusive pairs for cash back, earn up to 17% interest on your idle crypto assets and borrow against them for instant liquidity. Simple and secure. Head on to nexo.io and get started now. - Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer and more secure solution to store, send, receive, buy and swap your crypto. Buy now at amazon.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - Consensus 2022, the industry’s most influential event, is happening June 9–12 in Austin, TX. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code BREAKDOWN to get 15% off your pass at www.coindesk.com/consensus2022. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Christian Marquardt/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:38.2	adventure is just a listener way. Start your free 30-day trial at audible.com slash Wondery, UK.
0:45.6	That's audible.com slash Wondery UK.
0:53.8	Welcome back to The Breakdown with me, NLW.
0:58.8	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
1:04.7	The breakdown is sponsored by nexus.io, Arculus, and FtX, and produced and distributed by CoinDesk.
1:12.4	What's going on, guys? It is Monday, April 4th, and today we are talking about Elon Musk,
1:20.7	taking a 9.2% stake in Twitter and why it is in some ways his version of a Web3 play.
1:29.7	Before we get into that, however, if you were enjoying the breakdown, please go subscribe
1:33.6	to it, give it a rating, give it a review, and if you want to get deeper into the conversation,
1:38.6	come join us on the Breakers Discord.
1:40.7	It's where we talk about things like Elon Musk buying a big share of Twitter.
1:45.9	You can find a link in the show notes or go to bit.com slash breakdown pod.
1:50.1	Also, a disclosure as always. In addition to them being a sponsor of the show, I also work with
1:55.4	FTX. All right, so some pretty interesting news today.
	...

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