Elon Musk now owns 9.2% of twitter...update.. will soon be the sole owner as Board of Directors accepts his purchase offer

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Pens1566

Lifer
Oct 11, 2005
11,820
8,405
136
Sounds like the offer is predicated on adjournment of the trial and pending financing. What kind of collateral will Twitter want to agree to this is the question probably so they're not back here in a few months.

43.9B
 

ImpulsE69

Lifer
Jan 8, 2010
14,946
1,077
126
I'm curious to see how this plays out. Is he going to make it his own personal forum to just constantly bash the SEC or anyone who points out when he's on the wrong side of the fence about something. He's just another rich guy who's lost touch with reality and thinks he's above the law.
 
Jul 27, 2020
17,917
11,691
116
Elon could polish twitter for a few months, raise its share price through his shenanigans and then try to sell it off to his other billionaire friends. Or Saudis. Or China.
 

K1052

Elite Member
Aug 21, 2003
46,831
34,770
136
Elon could polish twitter for a few months, raise its share price through his shenanigans and then try to sell it off to his other billionaire friends. Or Saudis. Or China.

I think if it was that easy he wouldn't have sued to get out of the deal. Anyway the Saudis are already likely to be behind the bulk of his takeover financing and the US would never ok a China deal.
 

cytg111

Lifer
Mar 17, 2008
23,535
13,109
136
I'm curious to see how this plays out. Is he going to make it his own personal forum to just constantly bash the SEC or anyone who points out when he's on the wrong side of the fence about something. He's just another rich guy who's lost touch with reality and thinks he's above the law.

He is going to make it a place where DeSantis can blow his horn.

Just in time for the midterms to create a haven for Q's.

If he does that... I am gonna long distance phone home and tell the brotherhood to blow his rockets up when they enter Mars orbit.
 

Thump553

Lifer
Jun 2, 2000
12,726
2,501
126
Offer is pending financing? Wasn't Musk's original offer a straight cash deal? Twitter would be crazy to derail the trial schedule to accept a wishy-washy offer.
 

Pens1566

Lifer
Oct 11, 2005
11,820
8,405
136
Offer is pending financing? Wasn't Musk's original offer a straight cash deal? Twitter would be crazy to derail the trial schedule to accept a wishy-washy offer.

No there was financing in original deal.

In fact, their (Musk parties) letter states original deal and only adds that it depends on court terminating the current case.
 

manly

Lifer
Jan 25, 2000
11,337
2,355
136
Elon could polish twitter for a few months, raise its share price through his shenanigans and then try to sell it off to his other billionaire friends. Or Saudis. Or China.
Since the summer when Elon tried to back out, the brain drain from Twitter had begun. The reality is that SF progressive types do not want to work for that GOP-voting narcissist. Twitter is a successful and useful service, but it's never had a strong business model. This problem exists for many other "social networks" such as Snap or Pinterest, for example. Only a small few are wildly profitable by monetizing copious user data: FB, YouTube, TikTok.

Many have speculated that Twitter is in "trouble" whether or not Elon actually completes the purchase. If he doesn't, he's already significantly damaged the company in recent months. And if he does, he will actively work to make the service a dumpster fire. So lose/lose for Twitter. Their best case TBH would have been to negotiate something like a $3-$4B break-up fee instead of the sale. That gives them runway to work through the looming recession.

Offer is pending financing? Wasn't Musk's original offer a straight cash deal? Twitter would be crazy to derail the trial schedule to accept a wishy-washy offer.
IIRC when the deal was originally announced, Elon was going to have an I-bank sell bonds to help finance the transaction. Later, after his billionaire bros ponied up cold cash (see recent text dumps), Elon pivoted to more of an all-cash deal where Elon was going to pony up more of his personal wealth, in conjunction with other oligarchs' money.
 
Reactions: Brovane and cytg111

cytg111

Lifer
Mar 17, 2008
23,535
13,109
136
Now... how to get #LeavingTwitter trending for the next couple of months... lol

Whats the best alternative?
 

MrSquished

Lifer
Jan 14, 2013
21,912
20,202
136
Awesome news... I think. Hard to know for sure what will happen. He can be a bit of a loose cannon lol.
There's a good chance this will hurt him quite a bit financially. Which is great. Most of Twitter's best talent has left because they don't want to work for a shit head like him. Odds are he ruins the platform.

You realize the only reason he's going through with it is because he realized he'd be fucked in court, So it just looks better for PR that he buys it rather than just look like the fool he is for this deal in a court of law.
 

itsmydamnation

Platinum Member
Feb 6, 2011
2,863
3,417
136
The OP's point was that Tesla/SpaceX are only still afloat due to large infusions of govt. subsidies. Something that absolutely won't happen at Twitter.
Yeah buts its dumb and wrong.

Commercial contracting via space-x has saved the US Tax payer 10's of billions. But people with agendas call that a subsidy.
if spacex didn't exist how much would that change NASA's launch requirements, answer 0
if spacex didn't exist how much would that change USAF launch requirements , answer 0
if spacex didn't exist how much would that change CIA/NSA/NRO launch requirements , answer 0

people can GTFO

attack Musk for the dumb things he does , but trying to "devalue" everything he does just makes you look like an arse. aka play the ball not the person.
 

Vic

Elite Member
Jun 12, 2001
50,415
14,307
136
If he gets time from fooling around with his baby factories and commits himself fully to Twitter like he did with his previous success stories, I think he will do something newsworthy and even, worthy of further cementing his name in history.
The brainwashing is strong in this one.
 

Vic

Elite Member
Jun 12, 2001
50,415
14,307
136
It's not just that, it's that the reason Twitter moderates is because its customers want moderation. Twitter was initially super reluctant to do that and only did it after public outcry and complaints by the users!

I think Musk is in a bubble and thinks what he and his tech bro friends want is what the rest of America secretly wants and it's just not.

Dude this. If there is any lesson to be learned from Facebook's demise, it's that mainstream consumers don't like unchecked political polarization. Big shocker to no one.. except to the polarized tech elites.
 

Zorba

Lifer
Oct 22, 1999
14,875
10,300
136
Sounds like the offer is predicated on adjournment of the trial and pending financing. What kind of collateral will Twitter want to agree to this is the question probably so they're not back here in a few months.
Yeah, I wouldn't be dropping the trail until the check hit my account.
 

cytg111

Lifer
Mar 17, 2008
23,535
13,109
136
Dude this. If there is any lesson to be learned from Facebook's demise, it's that mainstream consumers don't like unchecked political polarization. Big shocker to no one.. except to the polarized tech elites.
The day the creator of the Matrix franchise tells you to fuck off touching her IP cause you suck.... is sad nerd day.
 

Pens1566

Lifer
Oct 11, 2005
11,820
8,405
136
Yeah buts its dumb and wrong.

Commercial contracting via space-x has saved the US Tax payer 10's of billions. But people with agendas call that a subsidy.
if spacex didn't exist how much would that change NASA's launch requirements, answer 0
if spacex didn't exist how much would that change USAF launch requirements , answer 0
if spacex didn't exist how much would that change CIA/NSA/NRO launch requirements , answer 0

people can GTFO

attack Musk for the dumb things he does , but trying to "devalue" everything he does just makes you look like an arse. aka play the ball not the person.

 
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