Chief Executives Just Looking For Fun

Michael Hedges October 3, 2022 Follow on Twitter

Chief executives live in a very special place. They are accorded high status. They are awarded praise. There are, in the digital era, few boundaries. After all, theirs is a special world filled with equally unique individuals. Some become celebrities, the top rung on the status ladder. Pretenders clamber to be just like them.

The tip top of the celebrity executive investors this week is Elon Musk. He is the world’s richest person. To quote the late astrophysicist Carl Sagan - a celebrity in the pre-social media days - “billions and billions.” Mr. Musk directs and owns electric vehicle company Tesla Motors. He also owns rocket ships, the ultimate cachet so far. Mr. Musk is something of a character, aside from being an accomplished engineer. Last year he hosted US late night TV comedy icon Saturday Night Live.

Earlier this year he invested in social media platform Twitter, which he had been using for more than a decade. Then he invested more. Eventually, he said he would be acquiring Twitter. Then not. There was an agreement. Then not. The dispute is being adjudicated.

Because of Mr. Musk’s status, not to forget capriciousness, he is a target for flattery, which he seems to enjoy. The trove of social media messages sent to and from Elon Musk, reported widely across the world this past week, reveal many rich and powerful folks breaking their thumbs trying to butter him up. Nobody, one source revealed, told Mr. Musk that buying Twitter was a bad idea.

Reaching out to Mr. Musk in those moments of Twitter quandary last March was German publisher Axel Springer chief executive Mathias Döpfner, according to documents filed in Delaware court proceedings, reported Business Insider (September 29). "Why don't you buy Twitter? We (Axel Springer) can manage this for you and turn it into a real platform for free speech. That would be a real contribution to democracy.” Mr. Musk replied, “Interesting idea.” Herr Döpfner pressed: "I'm serious. It's feasible. And it will be fun.”

Axel Springer publishes German right-wing tabloid Bild and news magazine Die Welt as well as Polish tabloid Fakt and a slew of digital products. Those include financial gossip portal Business Insider, celebrity gossip portal Insider and the right-facing Politico franchise. Herr Döpfner has longed for a US footprint in the digital media sphere, sending several executives in 2015 to hang-out in Palo Alto, California. Not much came of it. He did, however, get to meet Mark Zuckerberg.

Herr Döpfner continued to barrage Mr. Musk with flattery and suggestions. "Congratulations on investing in Twitter,” he wrote in April. “Should we talk about whether we should join the project? I meant my suggestion seriously." Mr. Musk did not respond.

Undeterred, Herr Döpfner offered advice. "Status Quo: Twitter is a public forum, but it is a problem that Twitter does not adhere to the principles of free speech. Accordingly, the core product is very good, but it does not serve democracy. In addition, the current business model is a dead end, which can be clearly seen from the share price.”

Unfortunately, he keeps, as we say, stepping in it. German publishing competitors relished in the revelations. Months ago Herr Döpfner faced criticism for defending tabloid Bild editor Julian Reichelt’s appalling workplace behavior, which eventually got him fired. Herr Reichelt is the "last and only journalist in Germany who still courageously rebels against the new GDR state of authority,” a reference to former Soviet East Germany, said offered publicly. “Almost everyone else has become propaganda assistants,” resurrected by Berlin daily Der Tagesspiegel (September 30). Saying he needed to “spend more time in America,“ he resigned - under fire - from German publishers association BDZV at the end of May.

A email to “colleagues” sent during 2020 presidential election campaign from Herr Döpfner surfaced in early September, reported by the Washington Post (September 6). "Let us all gather on the morning of November 3rd and pray that Donald Trump will again be President of the United States of America. No American government in the last 50 years has done more.” At first Herr Döpfner denied the email existed. When presented with it by WaPo he said it was just a joke.

Meanwhile, Mr. Musk unveiled this past Friday the Tesla Optimus humanoid robot prototype, reported CNN (September 30). It walked and waved but did not speak. “The robot can actually do a lot more than we just showed you,” said the proud Mr. Musk. “We just didn’t want it to fall on its face.”

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