How the Twitter Takeover Happened
Elon Musk’s purchase of Twitter could transform the platform in unforeseeable ways.
What we know for certain: The systems that enabled the takeover are broken.
“The board should have considered the interest of stakeholders like employees and users in evaluating the long-term value of the company,” Roosevelt Fellow Lenore Palladino told the New York Times this week. “We need to fundamentally change the approach to corporate governance.”
We must also blame a tax code that allowed for one man to amass $250 billion and make this kind of offer in the first place.
“Now imagine a top-end wealth tax had been in place—curbing the economic power of these billionaires and in turn their incentives to influence our mediascape,” Roosevelt Director of Corporate Power Niko Lusiani tweeted.
We can do more than imagine. As Ari Glogower, David Gamage, and Kitty Richards have written, a wealth tax is constitutional.
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