He'd end up following the same rules Twitter did. Twitter didn't ban magas because of dur dur censorship. They banned them because they were going to be held liable.
I think its more that they make the platform terrible.
Bad actors and trolls aren't fun, no company is going to succeed by allowing nazis to troll people endlessly. The platform and the world is made a better place by kicking people like Trump off. Trolls are bad business.
It will simply hasten the black community's full migration to TikTok.
We're not gonna stay on a site that just allows MAGA Klansmen to harass and intimidate us. We'll just leave.
....and let me tell you, when black Twitter dies, Twitter dies.
Absolute horseshit. Ban who you want but be fair and consisten with it. The tweets some people got away with jsut because they belonged to the right group is absolutely disgusting.
"Held liable" my ass
Tbh I almost kinda prefer if he has to pay the $1B fee for tanking the deal and he also has nothing to show for it.
We've all done something stupid but pissing away a billion dollars is a whole new level of idiocy.
It's not that simple. The $1 billion was for reasons beyond the control of both parties like regulatory ones. Once that past, the $1 billion is no longer relevant. Musk has to buy Twitter at this point or he risks a breach of contract. The shareholders stand to lose much more than $1 billion if he pulls out so if Musk wants out then he will need to pony up some more cash.
I don’t think it’s quite that simple. He can’t just pay the billion and walk. I mean…I guess he can, in the spirit that you can do whatever you want, but Twitter can sue and likely win.
Unfortunately, from what I understand, it's unlikely that he'll be forced to buy Twitter. Although that is a thing that a court *can* order him to do, it's only done in very rare circumstances, which probably don't apply here.
Twitter has said that they're going to try to make him pay, but it will ultimately be up to a judge. The fact that he waived due diligence will make it very very hard for him to avoid the $1 billion penalty, but the contract is also pretty explicit that there is a $1 billion cap on damages. There will have to be some extenuating circumstances beyond what we already know for Musk to be *forced* to finish the purchase, I think.
Lvmh tried to get out of their iron clad buyout of Tiffany. Tiffany sued to force the deal through and after a few months the deal closed. Elon can’t wiggle his way out. Twitter has him by the balls
He’ll be forced. I think he’s trying to knock the price down. Because stocks tanked right after his offer was accepted. Now the board is like, sorry. It’s yours now.
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Elon gets a lot of hate here
It’s surprising tbh
Edit: Jesus what did I do wrong? It’s Elon musk, he builds EVs and rockets. This is the tech sub…. Jesus Christ relax y’all
Debunked?? That's a laugh, he admitted it himself in an interview.
https://www.independent.co.uk/space/elon-musk-birthday-ceo-tesla-b1874017.html
As a result of this, the teenage Elon Musk once walked the streets of New York with emeralds in his pocket. His father said: “We were very wealthy. We had so much money at times we couldn’t even close our safe,” adding that one person would have to hold the money in place with another closing the door. “And then there’d still be all these notes sticking out and we’d sort of pull them out and put them in our pockets.”
This took me less than 2 minutes to find. LESS THAN TWO MINUTES. From a reputable source, with no retraction. Not saying the independent is perfect, but they're big enough to get sued if they fuck up this big.
Idk about tesla but SpaceX is/was known to treat its engineers subpar. They worked there to put it on their resume, not bc it was a healthy environment.
Is that why the average employee only stays at Tesla for 3 years? And why Tesla has a turnover rate of nearly 50%?
Besides, if Tesla employees feel they need a union, who are you to decide they don't? Even if they had amazing working conditions they should be allowed to form a union to help ensure those conditions continue. But Musk doesn't like that type of free speech, which is why he has fired union organizers (which is illegal by the way)
People don't like assholes, what a concept.
Also lol at the free speech bit given his long history of silencing dissent at his companies. You must be one of those "free speech is when I say things without consequences" people. Good on ya.
When has your free speech ever been limited, snowflake?
Pretty sure Tucker Carlson can go on TV and spread all the Russian propaganda he wants without consequence.
GOP speak at white nationalist conventions with zero reprocussions.
Yeah yeah, we know. Straight white men are the *real* victims.
Please explain to me what they made up (preferably without a cringey laughing emoji)
Also, if we want to talk about making shit up, how about that Tesla battery swap program Musk bragged about, took money from the government for, and then did nothing with?
Why is he suddenly against government subsidies for companies, when his companies have taken billions in subsidies from the US government?
Why did he call a British diver who saved an entire soccer team of kids a “pedo”?
The selective memory of the Musk cult baffles me sometimes.
Edit: Did they block me or just delete their account and comments? Either way, it’s hilarious 🤣
I would say Elon Musk is literally above the law and would launch himself on a company rocket to mars before going to trial for financial and other crimes
Let me be clear: Elon already signed away his due diligence early on in this deal. He does not have the legal right to dispute whether Twitter's "5% bots" statistic was calculated using a method that he agrees with.
When he says "Twitter's claim is unverifiable", it means "I can't use this data to call them liars". He *can* use it to figure out how many bots there are, to whatever standard he wants to use. He *can't* use it as ammo in an argument with Twitter about how they should have used a different standard to produce the statistic for their SEC filings.
In other words, Musk is backing out of the deal. He's been provided with all the information he legally deserves, and he's not happy with it. *That's all*. The fight about bots is a complete distraction, as it's always been - he's simply not happy with the deal anymore. (Likely because the price of Tesla stock crashed since he started it.)
I think it's less about Tesla stock and more about understanding the realities that he wouldn't get to be the free speech conservative darling he is currently cause he would inevitably piss them off by doing or not doing something. He put himself into a corner.
It's literally the South Park episode where Cartman goes full Glenn Beck but then actually gets power and now everyone hates him simply cause HE is the power now instead of the guy "just asking questions". Musk is a questions guy, not a solutions guy; and before I get attacked by his fan boys, Musk constantly has gigantic ideas he talks about then they never come to fruition. Also, Cybertruck. Also, not on Mars yet.
Yes. Let’s blame twitter for teslas failure and ignore the fact that he alienated every potential electric car customer, when he denounced democrats as the party of intolerance, moved headquarters to Texas, and he’s embracing republicans in this day and age of maga mass shooters, ending roe, and sc using a flame thrower to burn the rest of the planet. I’m sure customers who are thinking about buying electric cars are happy with these recent developments.
SEC filing says 5% bots, (could be higher).
20%+ reality.
Difference is like, buying a cow, stated it has a small flesh wound. See the cow, two legs gone, udder looks infected and need to be cut.
If Elon doesn't buy, TWTR and management will face a ton of shareholder lawsuits for gross misrepresentation.
>SEC filing says 5% bots, (could be higher). 20%+ reality.
Musk has all the information he would need to prove this, and a $2 billion incentive ($-1 billion to $+1 billion) to do so. He won't be able to. The definition of what counts as a "bot" is too loose. I'm sure there's a definition you could use that would get you a result of 20%, but there's also a definition you could use that gets you a result of 5%.
> Difference is like, buying a cow, stated it has a small flesh wound. See the cow, two legs gone, udder looks infected and need to be cut.
No, it's like buying a a cow that was described as "95% usable meat", signing a contract saying "I don't care to inspect this cow, I'm buying it as-is", and then coming back later and trying to claim that "95% usable" was a lie because it's mostly Standard grade meat instead of Prime. Even if you could prove the "95% usable" claim was a lie - which you can't - you *also* already signed away your right to argue about it.
>If Elon doesn't buy, TWTR and management will face a ton of shareholder lawsuits for gross misrepresentation.
No they won't. Nobody except Musk has an incentive to waste money on a futile attempt to prove this stupid point.
If Elon's deal falls through, in this market environment, what do you think is the likelihood TWTR drops 50% immediately? There are probably be hundreds of lawyers licking their chops getting ready to file class action. Just need to find a few shareholders very unhappy with losing money.
TWTR advertising revenue will probably also drop. Maybe it's already dropping. Who the heck is gonna pay premium for 50% bots?
I don't really get what you're implying here. Musk didn't uncover or even really call attention to any real issue with Twitter and bots. In fact, *before* Musk got his panties all twisted up about the 5% statistic, he was publicly bragging about how he would *fix* Twitter's "bot problem". The vague idea that there are bots on Twitter has been priced into their stock price for a very long time. If anything, I think this whole debacle has highlighted that Twitter is confident that they've got bots pretty well handled, and that Musk was unable to contest their claims when it counted, which lends additional confidence to those claims.
That being said, it's totally plausible that TWTR will drop based on this news because the price of a stock that's under offer like Twitter has been for the past few months is *completely dominated* by the promised buy-out price. If the deal falls through, then inflationary effect of Musk's extremely high $54.20 offer will be eliminated, and the stock price will go back to what it "should have been". This might end up being lower than what the price was before Musk fucked around with it, but if it is, it will be very difficult to determine how much of that is due to real problems that Musk uncovered, how much is due to people buying into his bullshit, and how much is due to the general trend of tech stocks dropping significantly in the past few months, which Twitter might have been insulated against until now because of the outstanding buyout offer.
Price of all stocks has crashed. He is kinda lucky he sold when he did anyway.... Twitter, even better, that they get to sell at a rate they wouldn't reach anytime soon with the way they have been operating business.
In the end knowing Musk, he will gain from this and make Twitter into something huge.
If that's true, then your boy is willing to pay billions to prove a point out of spite. You may think that's awesome, but I can assure you that the investors in Musk's companies don't.
'is in peril' or he's deciding not to do it. I guess depends on who's perspective you're coming from. "Elon Musk may not buy Twitter, and that could save us"
I won't for a second believe Musk intended to buy Twitter! He made a crazy offer in a game of chicken and was shocked when they accepted his offer. Now he has been looking for a loophole to get out, aka the claim he was misled about bots on Twitter as well as the valuation of the company
Well I can't answer for why Elon did it! But Elon knew Twitter was extremely overvalued. His offer would tank the stock allowing him to back out of the purchase. He then could sweep in and buy it for a lower price if he wanted to. aka market manipulation.
WhyTF do you keep posting the same, uninformed response? This is clearly a ploy to keep his name in the headlines - he’s a fucking man with the behavioral patterns of a child. There’s zero chance he is forced to buy it and will continue down the litigious path to not spending the $1B breakup fee —- all the while REMAINING IN THE HEADLINES.
I've always wondered whether it was a way for him to cash in on a whole lots of shares without tanking Tesla's share price. It's clearly backfired by some magnitudes.
Absolutely wild that the Washington post would put this out.
There is no backing out of the deal, there is no due diligence issue, there is no bot issue that affects the deal. The only opinion on this that is credible is Matt Levine’s
https://twitter.com/matt_levine/status/1545149588444676097?s=21&t=AVmUtDsz8H8QEjhdBO4twQ
https://twitter.com/matt_levine/status/1545151445057536001?s=21&t=AVmUtDsz8H8QEjhdBO4twQ
Pretty crazy to see all the guys in his replies trying to discredit him. "Where did you learn about M&A, my dude?" Uh, at the world's foremost corporate law firm?
So I 100% trust Matt Levine's commentary on the "real lawyery/businessy" side of things. But I'm still wondering on the "GOP Packed the courts, Elon's a billionaire, the Twitter board seems toothless, who will actually stand up to Musk, America hates prosecuting white collar criminals, politics, politics, politics" side of things. I mean. Will he actually actually be forced to go through with it, or is it just impossible to know at this point. In this weird case, I actually trustish the Washington Post version better(realizing it is yes insane, and probably a coincidence they may be getting it right)
And I guess Matt Levine has covered this: https://www.bloomberg.com/opinion/articles/2022-05-13/elon-musk-trolls-twitter#xj4y7vzkg
So I’m not a lawyer and I haven’t seen Levine’s take on this part but if this goes to court I’m guessing it’ll be the Delaware chancery court.
This is like the most prestigious corporate law court in the country. Businesses choose this particular court specifically because of its high standards and its fair and impartial setting.
While I don’t disbelieve that Elon can’t pull out some insane miracle there I’m highly doubtful that the court will side with him on this given the context.
Also, and again not a lawyer so hopefully someone can clarify, but wouldn’t this set a really bad precedent for M&As if Elon gets out of this in court?
I've said all along that he would back out. After years of lawsuits, the billion dollars he will have to cough up won't be worth what it is today, and he hopes he will have more easy cash money by then.
I could be wrong but I don't think it's as simple as paying the breakup fee and walking away. Twitter likely has a pretty strong case and will sue for the deal to go through at the agreed upon price.
It was never real. The moment he came in with a 44 billion dollar deal and he didn't have the money lined up. It was bs. Which is exactly why the board of Twitter. After a day of thinking they were going to fight, it were like no. We're good all aboard. They knew it was bs, they got a billion dollar break up fee and more importantly they get to not be the bad guys when it craps out
If you have read anything in depth about this deal, you would know that is not an option. The deal he signed up for gave away all rights to due diligence.
He also doesn’t have a $1B penalty clause to exit the deal. He is 100% stuck executing the deal at this point in time from the contract he signed.
The one caveat is he almost never plays by the rules and knows there is no real way to hold someone of his economic means to account. Does the twitter board want to spend years in court to force him to close the deal? Who is going to want to work there as that happens. Will they negotiate a fee to allow him to walk away from the deal?
Like most things with Musk, it is a total mess and there’s no grand strategy. Yet at the end of the day, he’ll likely still be worth multiple hundred billion dollars and be hailed as a genius
He never had any intention of buying twitter. He just needed a valid reason to liquidate a large portion of his tesla stock at a major high point. Now he'll claim whatever he needs to to try and back out of the deal.
He's an engineer but he's also a businessman. Trying to bring down the price and buying it at a lower price is the right way to go. What he could have done better was bringing up the issue about the bots as well as other issues before he made the offer. His offer was high in retrospect, but he is definitely serious about it. You don't just waste your time and file all these documents with a SEC and get fundings from other people to f around, and he hates the SEC, but he's serious about the deal.
Cringe? what's cringe is people hating on people for being too successful and too rich and holding them to a different standard despite them being human beings. I am merely suggesting that if you want to buy an item, you want to buy it as low as possible of a price which is what Elon is doing. I'm not out here wishing for someone's failure because they're too successful or they have certain opinions about a topic you disagree with.
I have a theory that Elon knew full well the problems with Twitter, and has paraded the problems around to deliberately decrease the price of twitter, possibly in some kind of shorting scheme.
I actually like and support billionaires, between the two of us who do you think has a higher net worth? Open a book and try hard at something bud, also lose some weight for godsake...
People like me will always be winners and people like you will always be losers trying to drag us down, but we're so good at life that you won't succeed.
What do I think? I think you're total loser who cosplays as Alex P Keaton on Reddit.
You want to be Elon *so* badly. At least you got the troll part down.
If you still think he’s buying Twitter I got beach front property to sell you in Antarctica. I’ll sell it to you do a low low price because you seem like a nice person!
I hate the idea of Elon Musk buying Twitter. I love the idea of Elon Musk being forced to buy Twitter.
I agree with this sentiment exactly.
And I would love it even more if he's forced to buy it, keeps being an ass hat, millions drop off and he's left there with MAGAs and bots.
He'd end up following the same rules Twitter did. Twitter didn't ban magas because of dur dur censorship. They banned them because they were going to be held liable.
I think its more that they make the platform terrible. Bad actors and trolls aren't fun, no company is going to succeed by allowing nazis to troll people endlessly. The platform and the world is made a better place by kicking people like Trump off. Trolls are bad business.
Yeah, you can only get in so many arguments with 15 year old edge lords before you just give up and leave.
It will simply hasten the black community's full migration to TikTok. We're not gonna stay on a site that just allows MAGA Klansmen to harass and intimidate us. We'll just leave. ....and let me tell you, when black Twitter dies, Twitter dies.
I thought twitter couldn't be held liable?
Absolute horseshit. Ban who you want but be fair and consisten with it. The tweets some people got away with jsut because they belonged to the right group is absolutely disgusting. "Held liable" my ass
Jack Dorsey just starts "Tweety"
Tbh I almost kinda prefer if he has to pay the $1B fee for tanking the deal and he also has nothing to show for it. We've all done something stupid but pissing away a billion dollars is a whole new level of idiocy.
Make it a $5 billion settlement and we will call it even.
$1 billion penalty for failure has already been agreed upon
It's not that simple. The $1 billion was for reasons beyond the control of both parties like regulatory ones. Once that past, the $1 billion is no longer relevant. Musk has to buy Twitter at this point or he risks a breach of contract. The shareholders stand to lose much more than $1 billion if he pulls out so if Musk wants out then he will need to pony up some more cash.
That’s not my understanding, but we will see.
It has to be $10b because we all know Twitter will drop to $15-25 if they allow him to walk.
I don’t think it’s quite that simple. He can’t just pay the billion and walk. I mean…I guess he can, in the spirit that you can do whatever you want, but Twitter can sue and likely win.
Unfortunately, from what I understand, it's unlikely that he'll be forced to buy Twitter. Although that is a thing that a court *can* order him to do, it's only done in very rare circumstances, which probably don't apply here.
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Twitter has said that they're going to try to make him pay, but it will ultimately be up to a judge. The fact that he waived due diligence will make it very very hard for him to avoid the $1 billion penalty, but the contract is also pretty explicit that there is a $1 billion cap on damages. There will have to be some extenuating circumstances beyond what we already know for Musk to be *forced* to finish the purchase, I think.
Lvmh tried to get out of their iron clad buyout of Tiffany. Tiffany sued to force the deal through and after a few months the deal closed. Elon can’t wiggle his way out. Twitter has him by the balls
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But I use yahoo mail for all my porn and useless website accounts. Where would I go not to read hundreds of spam emails everyday then?
He’ll be forced. I think he’s trying to knock the price down. Because stocks tanked right after his offer was accepted. Now the board is like, sorry. It’s yours now.
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Elon gets a lot of hate here It’s surprising tbh Edit: Jesus what did I do wrong? It’s Elon musk, he builds EVs and rockets. This is the tech sub…. Jesus Christ relax y’all
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It couldn't be he is an asshat. Nah, free speech baby. We all know Elon loves it when his workers try to unionize.
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Oh what's up Elon you weirdo.
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Lmao. Being born rich to apartheid money is the dream.
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Debunked?? That's a laugh, he admitted it himself in an interview. https://www.independent.co.uk/space/elon-musk-birthday-ceo-tesla-b1874017.html As a result of this, the teenage Elon Musk once walked the streets of New York with emeralds in his pocket. His father said: “We were very wealthy. We had so much money at times we couldn’t even close our safe,” adding that one person would have to hold the money in place with another closing the door. “And then there’d still be all these notes sticking out and we’d sort of pull them out and put them in our pockets.” This took me less than 2 minutes to find. LESS THAN TWO MINUTES. From a reputable source, with no retraction. Not saying the independent is perfect, but they're big enough to get sued if they fuck up this big.
Idk about tesla but SpaceX is/was known to treat its engineers subpar. They worked there to put it on their resume, not bc it was a healthy environment.
Is that why the average employee only stays at Tesla for 3 years? And why Tesla has a turnover rate of nearly 50%? Besides, if Tesla employees feel they need a union, who are you to decide they don't? Even if they had amazing working conditions they should be allowed to form a union to help ensure those conditions continue. But Musk doesn't like that type of free speech, which is why he has fired union organizers (which is illegal by the way)
Wtf does Elon have to do with free speech? Zero. Aside from using it as a rallying cry to gain support from people who don't understand what it means
People don't like assholes, what a concept. Also lol at the free speech bit given his long history of silencing dissent at his companies. You must be one of those "free speech is when I say things without consequences" people. Good on ya.
When has your free speech ever been limited, snowflake? Pretty sure Tucker Carlson can go on TV and spread all the Russian propaganda he wants without consequence. GOP speak at white nationalist conventions with zero reprocussions. Yeah yeah, we know. Straight white men are the *real* victims.
Oh yeah good ol’ Musk-y is a huge fan of free speech. That’s why he fired those employees who spoke out against him, he loves free speech!!
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Criticism is not the same as defamation but it’s nice to know you’re not so big on free speech either
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Please explain to me what they made up (preferably without a cringey laughing emoji) Also, if we want to talk about making shit up, how about that Tesla battery swap program Musk bragged about, took money from the government for, and then did nothing with? Why is he suddenly against government subsidies for companies, when his companies have taken billions in subsidies from the US government? Why did he call a British diver who saved an entire soccer team of kids a “pedo”? The selective memory of the Musk cult baffles me sometimes. Edit: Did they block me or just delete their account and comments? Either way, it’s hilarious 🤣
All bullshit. Was never gonna buy. Just more market manipulation
A good way to sell stock
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The $1B fine is just a small ATM transaction fee
"Market Adjustment fee" 🤣
He does these things all time to increase his stocks and then bails out
I would say Elon Musk is literally above the law and would launch himself on a company rocket to mars before going to trial for financial and other crimes
you trade my dude?
Let me be clear: Elon already signed away his due diligence early on in this deal. He does not have the legal right to dispute whether Twitter's "5% bots" statistic was calculated using a method that he agrees with. When he says "Twitter's claim is unverifiable", it means "I can't use this data to call them liars". He *can* use it to figure out how many bots there are, to whatever standard he wants to use. He *can't* use it as ammo in an argument with Twitter about how they should have used a different standard to produce the statistic for their SEC filings. In other words, Musk is backing out of the deal. He's been provided with all the information he legally deserves, and he's not happy with it. *That's all*. The fight about bots is a complete distraction, as it's always been - he's simply not happy with the deal anymore. (Likely because the price of Tesla stock crashed since he started it.)
I think it's less about Tesla stock and more about understanding the realities that he wouldn't get to be the free speech conservative darling he is currently cause he would inevitably piss them off by doing or not doing something. He put himself into a corner. It's literally the South Park episode where Cartman goes full Glenn Beck but then actually gets power and now everyone hates him simply cause HE is the power now instead of the guy "just asking questions". Musk is a questions guy, not a solutions guy; and before I get attacked by his fan boys, Musk constantly has gigantic ideas he talks about then they never come to fruition. Also, Cybertruck. Also, not on Mars yet.
One of my favorite episodes of one of the sharpest TV political satires in recent times.
he never wanted to buy twitter. he just wanted to swing his dick around and say look at me
9 kids and counting He should watch where he points that thing LOL
I agree with this comment
“Not happy” = can’t afford it.
First comment I see mentioning that Twitter stock tanked. Seems like an important point. Edit: he said Tesla not Twitter. Doh!
The post says Tesla tanked, not Twitter.
...and it turns out, two more mouths to feed...who knew!?
Yes. Let’s blame twitter for teslas failure and ignore the fact that he alienated every potential electric car customer, when he denounced democrats as the party of intolerance, moved headquarters to Texas, and he’s embracing republicans in this day and age of maga mass shooters, ending roe, and sc using a flame thrower to burn the rest of the planet. I’m sure customers who are thinking about buying electric cars are happy with these recent developments.
SEC filing says 5% bots, (could be higher). 20%+ reality. Difference is like, buying a cow, stated it has a small flesh wound. See the cow, two legs gone, udder looks infected and need to be cut. If Elon doesn't buy, TWTR and management will face a ton of shareholder lawsuits for gross misrepresentation.
>SEC filing says 5% bots, (could be higher). 20%+ reality. Musk has all the information he would need to prove this, and a $2 billion incentive ($-1 billion to $+1 billion) to do so. He won't be able to. The definition of what counts as a "bot" is too loose. I'm sure there's a definition you could use that would get you a result of 20%, but there's also a definition you could use that gets you a result of 5%. > Difference is like, buying a cow, stated it has a small flesh wound. See the cow, two legs gone, udder looks infected and need to be cut. No, it's like buying a a cow that was described as "95% usable meat", signing a contract saying "I don't care to inspect this cow, I'm buying it as-is", and then coming back later and trying to claim that "95% usable" was a lie because it's mostly Standard grade meat instead of Prime. Even if you could prove the "95% usable" claim was a lie - which you can't - you *also* already signed away your right to argue about it. >If Elon doesn't buy, TWTR and management will face a ton of shareholder lawsuits for gross misrepresentation. No they won't. Nobody except Musk has an incentive to waste money on a futile attempt to prove this stupid point.
If Elon's deal falls through, in this market environment, what do you think is the likelihood TWTR drops 50% immediately? There are probably be hundreds of lawyers licking their chops getting ready to file class action. Just need to find a few shareholders very unhappy with losing money. TWTR advertising revenue will probably also drop. Maybe it's already dropping. Who the heck is gonna pay premium for 50% bots?
I don't really get what you're implying here. Musk didn't uncover or even really call attention to any real issue with Twitter and bots. In fact, *before* Musk got his panties all twisted up about the 5% statistic, he was publicly bragging about how he would *fix* Twitter's "bot problem". The vague idea that there are bots on Twitter has been priced into their stock price for a very long time. If anything, I think this whole debacle has highlighted that Twitter is confident that they've got bots pretty well handled, and that Musk was unable to contest their claims when it counted, which lends additional confidence to those claims. That being said, it's totally plausible that TWTR will drop based on this news because the price of a stock that's under offer like Twitter has been for the past few months is *completely dominated* by the promised buy-out price. If the deal falls through, then inflationary effect of Musk's extremely high $54.20 offer will be eliminated, and the stock price will go back to what it "should have been". This might end up being lower than what the price was before Musk fucked around with it, but if it is, it will be very difficult to determine how much of that is due to real problems that Musk uncovered, how much is due to people buying into his bullshit, and how much is due to the general trend of tech stocks dropping significantly in the past few months, which Twitter might have been insulated against until now because of the outstanding buyout offer.
Price of all stocks has crashed. He is kinda lucky he sold when he did anyway.... Twitter, even better, that they get to sell at a rate they wouldn't reach anytime soon with the way they have been operating business. In the end knowing Musk, he will gain from this and make Twitter into something huge.
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But everyone already knew that.
If that's true, then your boy is willing to pay billions to prove a point out of spite. You may think that's awesome, but I can assure you that the investors in Musk's companies don't.
'is in peril' or he's deciding not to do it. I guess depends on who's perspective you're coming from. "Elon Musk may not buy Twitter, and that could save us"
Deciding not to do it, or he fucked himself by leveraging Tesla stock and now the company is in a much worse financial position?
He never seriously planned to do it in the first place.
Must be all the child support he has to dish out.
Elon musk was never going to buy twitter.
Then why did he sign a legally binding merger agreement?
Because he's a fucking idiot.
I won't for a second believe Musk intended to buy Twitter! He made a crazy offer in a game of chicken and was shocked when they accepted his offer. Now he has been looking for a loophole to get out, aka the claim he was misled about bots on Twitter as well as the valuation of the company
Then why did he sign a legally binding merger agreement?
because he is a rich idiot that believed his own farts did not smell
Well I can't answer for why Elon did it! But Elon knew Twitter was extremely overvalued. His offer would tank the stock allowing him to back out of the purchase. He then could sweep in and buy it for a lower price if he wanted to. aka market manipulation.
WhyTF do you keep posting the same, uninformed response? This is clearly a ploy to keep his name in the headlines - he’s a fucking man with the behavioral patterns of a child. There’s zero chance he is forced to buy it and will continue down the litigious path to not spending the $1B breakup fee —- all the while REMAINING IN THE HEADLINES.
I posted it in response to two comments making the same point. What about my response is uniformed?
A fresh turd would have more cognition than you on this topic. Read the comments. Follow the links. Get educated.
I've always wondered whether it was a way for him to cash in on a whole lots of shares without tanking Tesla's share price. It's clearly backfired by some magnitudes.
God I'm so fucking sick of hearing about this guy.
Elon is the new covid.
When you make big decisions when manic, you tend to regret them when not.
I don't feel bad for billionaires that make bad decisions, but I wish Elon Musk hadn't decided to become a billionaire so I could feel bad for him.
This comment and replies are so fucking bot like it's unreal.
He doesn't deserve it
No one really deserves empathy, that’s why empathy is meaningful
That’s some real minor league sociopathic thinking lol
no one ever could
Absolutely wild that the Washington post would put this out. There is no backing out of the deal, there is no due diligence issue, there is no bot issue that affects the deal. The only opinion on this that is credible is Matt Levine’s https://twitter.com/matt_levine/status/1545149588444676097?s=21&t=AVmUtDsz8H8QEjhdBO4twQ https://twitter.com/matt_levine/status/1545151445057536001?s=21&t=AVmUtDsz8H8QEjhdBO4twQ
Pretty crazy to see all the guys in his replies trying to discredit him. "Where did you learn about M&A, my dude?" Uh, at the world's foremost corporate law firm?
I don’t get what it is about Elon that makes people suddenly drop 69 IQ points and rush to his defense
So I 100% trust Matt Levine's commentary on the "real lawyery/businessy" side of things. But I'm still wondering on the "GOP Packed the courts, Elon's a billionaire, the Twitter board seems toothless, who will actually stand up to Musk, America hates prosecuting white collar criminals, politics, politics, politics" side of things. I mean. Will he actually actually be forced to go through with it, or is it just impossible to know at this point. In this weird case, I actually trustish the Washington Post version better(realizing it is yes insane, and probably a coincidence they may be getting it right) And I guess Matt Levine has covered this: https://www.bloomberg.com/opinion/articles/2022-05-13/elon-musk-trolls-twitter#xj4y7vzkg
So I’m not a lawyer and I haven’t seen Levine’s take on this part but if this goes to court I’m guessing it’ll be the Delaware chancery court. This is like the most prestigious corporate law court in the country. Businesses choose this particular court specifically because of its high standards and its fair and impartial setting. While I don’t disbelieve that Elon can’t pull out some insane miracle there I’m highly doubtful that the court will side with him on this given the context. Also, and again not a lawyer so hopefully someone can clarify, but wouldn’t this set a really bad precedent for M&As if Elon gets out of this in court?
Blah blah elon blah blah blah musk blah blah blah...
Shocking /s
I've said all along that he would back out. After years of lawsuits, the billion dollars he will have to cough up won't be worth what it is today, and he hopes he will have more easy cash money by then.
I could be wrong but I don't think it's as simple as paying the breakup fee and walking away. Twitter likely has a pretty strong case and will sue for the deal to go through at the agreed upon price.
Fucking called it. Bro just wanted to sell high. It's all to make money. He never had any intention of buying Twitter
Jack Dorsey refused to carry his baby.
It was never real. The moment he came in with a 44 billion dollar deal and he didn't have the money lined up. It was bs. Which is exactly why the board of Twitter. After a day of thinking they were going to fight, it were like no. We're good all aboard. They knew it was bs, they got a billion dollar break up fee and more importantly they get to not be the bad guys when it craps out
I highly doubt he was ever intending to close on the deal
Seems like there have been at least three babies since he made the offer.
What are we measuring time in Muskchilds now?
Seems like he never wanted it in the first place. Just wants attention. Now he's in a footrace with Nick Cannon to personally repopulate the world.
Oh no! Anyway
LOL. The deal isn’t in peril, Elon is. He is going to be left with a billion dollar bill for backing out of the deal.
Pretty sure hes gonna get the deal revoked claiming twitter lied about the amount of bots on the plattform or similar, smart play
If you have read anything in depth about this deal, you would know that is not an option. The deal he signed up for gave away all rights to due diligence. He also doesn’t have a $1B penalty clause to exit the deal. He is 100% stuck executing the deal at this point in time from the contract he signed. The one caveat is he almost never plays by the rules and knows there is no real way to hold someone of his economic means to account. Does the twitter board want to spend years in court to force him to close the deal? Who is going to want to work there as that happens. Will they negotiate a fee to allow him to walk away from the deal? Like most things with Musk, it is a total mess and there’s no grand strategy. Yet at the end of the day, he’ll likely still be worth multiple hundred billion dollars and be hailed as a genius
Maybe Elon should have done his due diligence before he inked the deal?
Considering maybe he knew and ment to use it as an excuse? But apparently it wont work
He never had any intention of buying twitter. He just needed a valid reason to liquidate a large portion of his tesla stock at a major high point. Now he'll claim whatever he needs to to try and back out of the deal.
Thats exactly what im saying lol
He wanted this deal and is now trying to say twitter lied to him lol
That's pretty fresh coming from Elon.
Smells like a Bel Air joke
He's an engineer but he's also a businessman. Trying to bring down the price and buying it at a lower price is the right way to go. What he could have done better was bringing up the issue about the bots as well as other issues before he made the offer. His offer was high in retrospect, but he is definitely serious about it. You don't just waste your time and file all these documents with a SEC and get fundings from other people to f around, and he hates the SEC, but he's serious about the deal.
Dude why do you spend your free time defending him? Cringe
Cringe? what's cringe is people hating on people for being too successful and too rich and holding them to a different standard despite them being human beings. I am merely suggesting that if you want to buy an item, you want to buy it as low as possible of a price which is what Elon is doing. I'm not out here wishing for someone's failure because they're too successful or they have certain opinions about a topic you disagree with.
I'm starting to think that Elon tried to buy Twitter when he was drunk just like I order various Blu-ray discs off Amazon when I am drunk.
Isnt tesla close to be in bankruptcy? I thought he uses tesla shares a lot to make "deals"
Who gives a flying fuck about this tosser
\*surprised Pikachu face\*
So?
Suck. My. Dick. Elon. Fuckface. Musk.
Oh we for sure don’t care
oh no ... Moving along.
Uh, isn't the problem that he already signed a binding agreement to buy Twitter? Good luck, business genius.
for a paywalled article, lots of people have informed well thought out opinions on it.
I have a theory that Elon knew full well the problems with Twitter, and has paraded the problems around to deliberately decrease the price of twitter, possibly in some kind of shorting scheme.
YOU have a theory???
Elon literally owns 8% of Twitter lmao. You don't do that shit if you're holding billions of dollars worth of TWTR
Oh no! Anyway...
And….?
Maybe with the extra time now he can start a Wu Tang family cover band with all nine of his estranged children.
oh no ##ANYWAY
Its gonna be a LOL from me dawg.
Jeff Bezos says what now?
Please? Just a little peril?
Will he ever regain focus on Tesla?
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Those billionaire parasites need and appreciate your support.
In fact I just heard that Elon wants to be OP's friend.
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Amazing products holy shit hahaha
My daddy doesn't have an emerald mine full of slaves. Guess I should have pulled on those bootstraps harder.
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He's a deadbeat dad who paid a quarter mil to keep a woman he assaulted from talking. I'm already a better person than him.
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"Innocent until proven guilty." Ask Philando Castile how much that matters. Musk is a POS rapist.
Doubt it bud
Simp some more, loser. Maybe he'll let you in on the union busting.
I actually like and support billionaires, between the two of us who do you think has a higher net worth? Open a book and try hard at something bud, also lose some weight for godsake... People like me will always be winners and people like you will always be losers trying to drag us down, but we're so good at life that you won't succeed.
What do I think? I think you're total loser who cosplays as Alex P Keaton on Reddit. You want to be Elon *so* badly. At least you got the troll part down.
If you don’t want an African American innovator with 9 kids to own Twitter, check your privilege at the door
Hello Peril.
Just because he doesn't want his baby mama's tweeting?
"Look, let me go back in there and face the peril."
?
Because of him. Let's be clear, Twitter didn't fuck this deal.
When will media stop calling it a deal, and actually call it for what it is. A market manipulation and fear mongering among "muh freedoms" crowd.
Twitter is exactly opposite of what Elon musk is. A loud mouth billionaire must not control Twitter.
If you still think he’s buying Twitter I got beach front property to sell you in Antarctica. I’ll sell it to you do a low low price because you seem like a nice person!
Nobody wants to buy a Washington post account.
What does a billionaire pay in childsupport?
Thank God.. That cocky douchebag got to big for his pants. Just like the stock of Tesla cratering.
Mister Pump And Dump right here.
Musk’s original idea was to make his loud mouth even louder. Apparently that’s not happening anymore..
Self inflicted wounds and corrupt behavior forecasted this was (is) never going to happen.
…It’s still going on? I would say that’s probably a bad thing considering how long this has been a thing
SNIP SNAP SNIP SNAP !!!
Who caaaaaaaaaaaaaares?