>The goal of these services is to make money by remaining popular, not to ban as many people as possible.
Many would argue that this isn't the case, and the "goal" of these services is actually to manage the public narrative at the behest (both directly and indirectly) of the wealthy and the powerful. Did Jeff Bezos really buy the Washington Post because he thought that it would offer the best return on his investment, or because he wanted to hold the bullhorn of one of the largest and most influential newspapers in the USA? Does Twitter choose which people to ban and what information gets promoted/demoted based on what's most popular, or based on the narrative they want to create and/or reinforce? Did the Twitter board really reject Musk's offer because it was too low or because they didn't want to give up control of the narrative to Musk?
Twitter makes money based on ads and advertisers put pressure on services if they feel pressure from the public. For example Tucker Carlson is a very popular show but 24% of the ads are for Fox news or related [1] and many advertisers have have stopped because of controversial speech [2].
Elon musk has stated that free speech is important to him. Let's assume if he purchases Twitter he'll decrease the amount of censorship. I'll make the claim that the less censorship a service has the less money it can make from advertisers.
Some have suggested that, maybe Musk did himself?, that he'll start charging users for the service however a survey stated that 74% of people would prefer an ad based service, if they were forced to choose the numbers are closer depending on the age bracket [3]. I'll claim that people wouldn't pay in sufficient numbers and would flee the service. What other popular social media service requires a subscription?
Therefore Twitter's action is in the best interest of the shareholders.
Many would argue that this isn't the case, and the "goal" of these services is actually to manage the public narrative at the behest (both directly and indirectly) of the wealthy and the powerful. Did Jeff Bezos really buy the Washington Post because he thought that it would offer the best return on his investment, or because he wanted to hold the bullhorn of one of the largest and most influential newspapers in the USA? Does Twitter choose which people to ban and what information gets promoted/demoted based on what's most popular, or based on the narrative they want to create and/or reinforce? Did the Twitter board really reject Musk's offer because it was too low or because they didn't want to give up control of the narrative to Musk?