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Twitter is now X as the little blue bird disappears
(www.theverge.com)
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Because he never wanted to buy Twitter
His plan was likely to act like it, then at the last minute claim some flaw (like too many bots) and that he had reluctantly decided it would be better to make his own.
If it worked he'd hurt Twitter and build up hype for his new social media.
But he's an idiot, and accidentally committed to buying it