Finally, Elon can resurrect that ‘funding secured’ tweet. It might not get that many wry smiles in the Tesla camp this time though.

Musk’s attention is bound to be split here. Given the fairly unclear synergies between Tesla and Twitter that EV fans will be looking out for, they’ll likely feel they got a raw deal. With no obvious value-add for them, they can only lose part of Musk’s focus and gain nothing for now.

That’s bad news because Tesla needs absolutely no distractions now. Yes, it’s the leader in the space by far but the incumbents really are catching up.

And at what feels like an inflection point, with the war in Ukraine bringing into sharp view the need to push further into renewables, Musk could be about to instead leap into the biggest vanity project the world has ever seen.

Away from grand ideas about promoting free speech, what Musk actually sees is a special situation here, in much the same way as any other value-minded investor. But it will take time, resources and a learning curve before he can enact any serious plans he has in mind and, crucially, unlock any hidden value.

Then there is the cultural chasm between working at Tesla and Twitter. Will Musk’s new employees buy into the plans? Have they been waiting for a new direction or will the reception be as hostile as the bid?

The point here is the market doesn’t quite know if it’s arrogance leading the way or genius. Musk flits between both regularly, let’s see which one this is and if taking his eye off the Tesla ball for a while is worth it.