HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Elon Musk says his takeov...

Fri May 13, 2022, 06:36 AM

Elon Musk says his takeover of Twitter is 'on hold.'

Source: New York Times



Elon Musk said his $44 billion bid to purchase Twitter was “temporarily on hold” until he could get more details to confirm that spam and fake accounts represent less than 5 percent of the social network’s total users.

Mr. Musk, the chief executive of Tesla, made the announcement in a pre-dawn tweet on Friday. He linked to a Reuters article published on May 2 about a regulatory filing by Twitter that included an estimate of the number of spam and fake accounts. Shares in Twitter fell about 20 percent in premarket trading on Friday.




Mr. Musk has said that ridding the platform of fake accounts, bots and spam is one of his top priorities after taking over. Known for his freewheeling and sometimes impulsive business style, Mr. Musk’s comments raise questions about the future of a deal that would put one of the most influential social media platforms under the control of world’s wealthiest person.

The deal for Twitter includes a $1 billion termination fee that Mr. Musk would have to pay if he backs out of the deal, though it was unclear how such a clause would apply if Mr. Musk determined Twitter’s user figures were incorrect. Mr. Musk has pledged to use a considerable amount of his personal fortune to finance the deal for Twitter, a plan that has been impacted by a recent plunge in stock prices, including Tesla’s. Tesla’s stock has fallen nearly 30 percent in the past month. Mr. Musk is both selling Tesla shares and putting them up as collateral for personal loans to raise cash.

This is a breaking news story. Check back for updates.


Read more: https://www.nytimes.com/2022/05/13/business/elon-musk-says-his-takeover-of-twitter-is-on-hold.html?smid=tw-nytimes&smtyp=cur



OP ARTICLE TWEET TEXT

Elon Musk
@elonmusk
Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users
A 3D-printed Twitter logo on non-3D printed Twitter logos is seen in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration
reuters.com
Twitter estimates spam, fake accounts comprise less than 5% of users -filing
Twitter Incestimated in a filing on Monday that false or spam accounts represented fewer than 5% of its monetizable daily active users during the first quarter.
5:44 AM · May 13, 2022


Seems like these "utterances" have been moves to manipulate the stock price.

Original article -

Elon Musk said his $44 billion bid to purchase Twitter was "on hold" until he could get more details to confirm that spam and fake accounts represent less than 5 percent of the social network's total users.

Mr. Musk, the chief executive of Tesla, made the announcement in a pre-dawn tweet on Friday. He linked to a Reuters article published on May 2 about a regulatory filing by Twitter that included an estimate of the number of spam and fake accounts.




Mr. Musk has said that ridding the platform of fake accounts, bots and spam is one of his top priorities after taking over.

Known for his freewheeling and sometimes impulsive business style, Mr. Musk's comments raise questions about the future of a deal that would put one of the most influential social media platforms under the control of world's wealthiest person.

This is a breaking news story. Check back for updates.

57 replies, 3649 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 57 replies Author Time Post
Reply Elon Musk says his takeover of Twitter is 'on hold.' (Original post)
BumRushDaShow May 13 OP
Phoenix61 May 13 #1
JohnSJ May 13 #2
gldstwmn May 13 #50
JohnSJ May 13 #51
Pachamama May 14 #52
Phoenix61 May 14 #56
mahatmakanejeeves May 13 #3
underpants May 13 #4
SouthernDem4ever May 14 #55
bucolic_frolic May 13 #5
sop May 13 #30
FreepFryer May 13 #6
2Gingersnaps May 13 #42
C_U_L8R May 13 #7
BumRushDaShow May 13 #9
2Gingersnaps May 13 #27
crickets May 13 #39
BumRushDaShow May 13 #41
bucolic_frolic May 13 #8
NewHendoLib May 13 #10
dlk May 13 #11
PatSeg May 13 #12
milestogo May 13 #13
Delphinus May 13 #14
BumRushDaShow May 13 #17
Delphinus May 13 #18
BumRushDaShow May 13 #19
jmowreader May 13 #47
DemocraticPatriot May 13 #15
tanyev May 13 #16
Achilles Skye May 13 #20
Joinfortmill May 13 #21
Alexander Of Assyria May 13 #25
mopinko May 13 #29
dchill May 13 #35
JudyM May 13 #46
BootinUp May 13 #48
Progressive dog May 13 #22
LetMyPeopleVote May 13 #23
BumRushDaShow May 13 #26
Alexander Of Assyria May 13 #24
2Gingersnaps May 13 #28
Historic NY May 13 #31
Bengus81 May 13 #32
usonian May 13 #33
Justice matters. May 13 #34
BumRushDaShow May 13 #36
LetMyPeopleVote May 13 #37
BumRushDaShow May 13 #38
crickets May 13 #40
Catherine Vincent May 13 #43
Marthe48 May 13 #44
godfree2 May 13 #45
Carlitos Brigante May 13 #49
BlueWavePsych May 14 #53
BumRushDaShow May 14 #54
Norton Nork May 14 #57

Response to BumRushDaShow (Original post)

Fri May 13, 2022, 06:39 AM

1. I'm shocked! Anyone else think he'll use this as an out? nt

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Phoenix61 (Reply #1)

Fri May 13, 2022, 06:42 AM

2. Of course he will, and he is trying to avoid the one billion dollar breakup fee he would owe.

I hope the shareholders sue the hell out him, along with the breakup fee.




Reply to this post

Back to top Alert abuse Link here Permalink


Response to JohnSJ (Reply #2)

Fri May 13, 2022, 11:31 PM

50. I think they already are suing him but it's for something else.

It almost looks like he is manipulating the stock with this BS.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to gldstwmn (Reply #50)

Fri May 13, 2022, 11:36 PM

51. Yes. Some are speculating that he is trying to drive the price down, and renegotiate a lower price

At the minimum it looks like stock manipulation to me

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Phoenix61 (Reply #1)

Sat May 14, 2022, 08:47 AM

52. I think not just as an out of the Twitter deal - I think to purposely ruin Twitter

I honestly think this was part of his plan all along. I think it’s his revenge on Twitter and a big giant fuck you. He will pay any fines and laugh the whole way on to his next thing he does.

I never took his intention to buy Twitter seriously.

I am seriously hoping for some karmic retribution amd consequences to hit Musk. He epitomizes the arrogance and hubris of so many of the über wealthy who think they have a license to do whatever they wish.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Pachamama (Reply #52)

Sat May 14, 2022, 10:17 AM

56. I had not considered that possibility but it certainly

mask sense. I’m reminded of a quote from The Great Gatsby:
“They were careless people, Tom and Daisy – they smashed up things and creatures and then retreated back into their money or their vast carelessness, or whatever it was that kept them together, and let other people clean up the mess they had made.”

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 06:46 AM

3. You mean the First Amendment isn't really writing its own tweets?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 06:53 AM

4. Fox News "only 5% could be fake. It's not like it's 65%"

I flip over to Fox in the morning from time to time. The three stooges on the couch explaining away lies was something to behold.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to underpants (Reply #4)

Sat May 14, 2022, 09:56 AM

55. This coming from an organization that lies about most everything

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 07:08 AM

5. His actions disrupted capital markets

Hopefully class action lawyers will go after it. Shorts got burned, options volatility exploded, all for doofus ego. He didn't even abide by the SEC reporting rules which is to notify when a 5% stake is taken.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to bucolic_frolic (Reply #5)

Fri May 13, 2022, 09:36 AM

30. "Musk knows as well as anyone Twitter is also a great tool for market manipulation and securities

fraud." - Josh Marshall

That's likely the reason he wants to buy Twitter.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 07:10 AM

6. Oh seriously, fuck this guy and everybody who cares what he says. At some point his $ doesn't matter

What a shitty manipulative snake oil shilling moral shitsplat.

That our societies can be manipulated and exploited by the likes of Musk and Trump is one of our shittiest failings as a planet.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to FreepFryer (Reply #6)

Fri May 13, 2022, 02:49 PM

42. He and Trump are just alike, neither knows when to STFU

One will run his mouth into a prison cell, and hopefully the other will run his mouth into a Chinese factory floor-since he has so much respect for factory workers. /S

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 07:16 AM

7. He was hoping for more fake accounts?

Seems more likely the crypto crash has left him a bit short on cash.

Time for someone like Microsoft to swoop in and grab a bargain.
Boy, does Twitter's board of directors look like fools.
Now they have to sell before shareholder lawsuits take them out.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to C_U_L8R (Reply #7)

Fri May 13, 2022, 07:33 AM

9. Hmmm...



Bitcoin’s 50% crash erases all of Elon Musk’s gains on Tesla balance sheet

By Shawn Tully

May 11, 2022 8:00 PM EDT


In early 2021, Elon Musk bestowed the landmark endorsement that, more than any other high-profile purchase, sent Bitcoin on a moonshot and clinched its status as a mainstream investment. Musk famously purchased $1.5 billion in the king of cryptocurrencies using spare cash on the EV maker’s balance sheet, a highly unorthodox move since most companies abhor putting their war chests at risk. In public statements, Musk and CFO Zach Kirkhorn expressed great pride in pioneering a new practice of wagering to make big money on dollars virtually every other enterprise just wants to keep safe. Kirkhorn declared on last year’s Q1 conference call that the purpose was to “get some return” on cash “not immediately being used for operations.” In a SEC filing weeks earlier, Kirkhorn went so far as adding a second title to his rank as CFO: “Master of Coin.”

But so far, the grand experiment’s proved a bust. On the morning of May 11, Bitcoin dropped below $29,400, erasing all of Musk’s once-sumptuous gains, and though it rebounded later in the day, it’s now hovering near the break-even point.

(snip)

https://fortune.com/2022/05/11/bitcoin-crash-elon-musk-holdings-tesla-balance-sheet/


Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Reply #9)

Fri May 13, 2022, 09:27 AM

27. "Master of Coin"

Do these grown ass adults think they are starring in Game of Thrones? Seems the type of emotional maturity one would expect from this bunch.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Reply #9)

Fri May 13, 2022, 12:46 PM

39. Thanks, BumRushDaShow. That was a joy to read.

Non paywall link: https://archive.ph/4aAwj

Reply to this post

Back to top Alert abuse Link here Permalink


Response to crickets (Reply #39)

Fri May 13, 2022, 01:04 PM

41. Thanks for the alternate link

I could only get partially through it before it started blocking the rest although at least that partial excerpt basically summed it up.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 07:21 AM

8. Oh look! Oligarch haggling for a better price!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 07:54 AM

10. ...and he wants to let TFG back on? Biggest spammer of all!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 07:58 AM

11. Musk's ego and hubris are crashing Tesla

He may be brilliant in some areas but his Twitter takeover efforts are a clear blind spot.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 08:09 AM

12. Ha, ha, ha!!!

The first story I saw in my emails this morning.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 08:10 AM

13. Is he a human-alien hybrid?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 08:16 AM

14. I think he's using

this as a way to get the stocks to fall to where his Tesla holdings will be enough to purchase it.

What an ass this person is.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Delphinus (Reply #14)

Fri May 13, 2022, 08:26 AM

17. "a way to get the stocks to fall to where his Tesla holdings will be enough to purchase it."

But the bitcoin market says, not so fast!

Elon Musk's Tesla Loses Money in Bitcoin Rout

The manufacturer of high-end electric vehicles had invested in bitcoin in February 2021.

Luc Olinga
May 10, 2022 3:05 PM EDT

The few established companies that have added bitcoin to their balance sheets are now beginning to see this investment go awry. Tesla invested $1.5 billion in virtual currency on Feb. 8, 2021, and said it was beginning to accept it as payment for buying Tesla cars.

The move came days after Chief Executive Elon Musk temporarily changed his Twitter mini-description to simply #bitcoin. The announcement was a mark of confidence in cryptocurrency. Bitcoin prices then jumped past $42,000.

Tesla claimed that this investment in bitcoin was aimed at diversifying its sources of liquidity and gaining flexibility in order to be able to largely remunerate its shareholders. But a few months later, in May 2021, Tesla indicated that it no longer accepted bitcoin as a means of payment. It cited as a reason that it wanted to preserve the environment since minting of bitcoins consumes enormous amounts of electricity.

(snip)

Tesla's Investment Is in the Red

For several months, Tesla's bitcoin gamble paid off, especially when the price hit an all-time high of $69,044.77 on Nov. 10. But since then prices have plummeted and are currently hovering around $31,000. The bitcoin-price slump puts Tesla's initial investment in the red. Indeed, the Austin company seems to have lost money. According to Bitcoin Treasuries, Tesla's 43,200 bitcoins purchased for $1.5 billion are currently valued at $1.35 billion, down $150 million, or about 15%.

(snip)

https://www.thestreet.com/investing/cryptocurrency/tesla-loses-money-on-bitcoin-bet

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Reply #17)

Fri May 13, 2022, 08:29 AM

18. Thank you

I admit to knowing nothing about crypto.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Delphinus (Reply #18)

Fri May 13, 2022, 08:38 AM

19. You're welcome

and I know DU has a bunch of crypto-currency-knowledgeable (and I am not one of them but do remember back when it was first being introduced and the concept behind it, etc).

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Delphinus (Reply #18)

Fri May 13, 2022, 09:01 PM

47. The people who own crypto don't know anything about crypto either

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 08:18 AM

15. Spam and fake accounts less than 5% of Twitter ?!

Good luck with that...

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 08:19 AM

16. Does he really want to get rid of fake accounts or just certain fake accounts?

Because if you got rid of all the fake accounts that followed TFG, for example, his number of followers would go way down. And then he would throw a non-stop persecution tantrum.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 08:44 AM

20. This deal could be undone...

if my friends & I make more fake accounts?!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 08:53 AM

21. This dude is weird. Just saying.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Joinfortmill (Reply #21)

Fri May 13, 2022, 09:13 AM

25. Genius is always a bit weird, ask Einstein.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Alexander Of Assyria (Reply #25)

Fri May 13, 2022, 09:35 AM

29. einstein was a caring human being.

this guy not so much.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Alexander Of Assyria (Reply #25)

Fri May 13, 2022, 11:25 AM

35. Einstein left plenty of evidence of genius.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to dchill (Reply #35)

Fri May 13, 2022, 06:00 PM

46. Just yesterday, that news that the Milky Way's black hole is precisely the size he predicted!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Alexander Of Assyria (Reply #25)

Fri May 13, 2022, 09:18 PM

48. You throw that word around way too easy friend. nt

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 08:57 AM

22. I hope he's backing out of the deal

and that he has to pay the termination fee.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 09:05 AM

23. Elon Musk tweeted that Twitter deal is temporarily on hold

It is clear that the margin loan structure would not work. This structure exposed both Twitter and Tesla. The new financing is not cheap https://www.bloomberg.com/news/articles/2022-05-12/musk-seeks-to-scrap-tesla-margin-loan-with-new-twitter-funding

The preferred equity may have a 20-year maturity and include a feature allowing interest to be paid in kind at a rate of 14%, the people said. That interest rate would be increased by 75 basis points in the seventh, eight and ninth year, they added. The financing may alternatively be structured with a 10% interest rate and warrants, one of the people said.


See also https://www.zerohedge.com/political/musk-looking-scrap-tesla-margin-loan-secure-new-twitter-funding

According to the report, the preferred equity may have a 20 year maturity, as well as a feature which would allow interest to be paid in kind at 14%. The rate would be raised by 75 basis points in the 7th, 8th and 9th year. Alternatively, the financing may be structured with a 10% interest rate plus warrants.

Musk has announced that this deal is on hold.



https://www.washingtonpost.com/technology/2022/05/13/musk-twitter-bid/

Tesla has lost $400 billion in market value since Musk’s interest in Twitter became public in early April, driving a wedge in his acquisition plans at a time when he has committed $21 billion of his wealth to finance the purchase. Musk had planned to buy Twitter with a combination of loans and equity commitments, leveraging into the deal much of his stake in the world’s most valuable automaker — from which he derives most of his wealth.


Musk’s net worth, which makes him the world’s richest man, has fallen by around $50 billion in recent weeks, according to Forbes’ real-time wealth index. And Tesla stock has shed nearly 30 percent of its value in just the past month.,,,,

Musk has leveraged much of his Tesla stock as collateral for his loans, making the recent economic downturn a particular issue for his bid. Tesla has warned of the risks it faces because of the amount of Tesla stock Musk has put down as collateral. Tesla stocks were trading at under $730 on Thursday, well below the more than $1,100 mark from early April. A drop by several hundred more dollars could trigger requirements that would force Musk to sell some shares, analysts said.

At one point last year, he had put down more than half of his shares as collateral, according to financial filings. Because the Twitter bid would only add to that percentage, Musk has faced pressure to reduce his equity commitment, according to people with knowledge of the matter who spoke on the condition of anonymity to discuss sensitive matters.

It will be interesting to see of Musk can pull off this deal. It is clear that this deal will not be financed based on margin loans using Tesla stock

Reply to this post

Back to top Alert abuse Link here Permalink


Response to LetMyPeopleVote (Reply #23)

Fri May 13, 2022, 09:16 AM

26. His Tesla stock took a hit on the bitcoin market collapse




Josh Marshall
@joshtpm
·
May 13, 2022
Hadn’t Tesla parked a few billion of reserve cash in crypto?
Dr. MadScientistPhD
@MadScientistPhD
cnbc.com
Tesla says it held nearly $2 billion worth of bitcoin at the end of 2021
By Dec. 31, the fair market value of its bitcoin holdings came in at $1.99 billion.
7:54 AM · May 13, 2022


I suppose some of this is going to hinge on where that market is headed.

https://www.barrons.com/articles/bitcoin-ether-terra-luna-tether-crypto-prices-today-51652342984?tesla=y

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 09:12 AM

24. Playing the media world like a drum...he sure know how, no one can argue that.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Alexander Of Assyria (Reply #24)

Fri May 13, 2022, 09:32 AM

28. So did Trump, that guy is a repulsive meglomaniac too,

special emphasis on "maniac." Tripping and falling on those egos is gonna hurt bigly.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 09:43 AM

31. And everyone thought he was so rich, he is cash poor,

now maybe he can fix his self-immolating cars. Speed might kill, burning in a car that catches fire in an accident is more than just a problem. Fire Depts. struggle to put out the fire.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 10:22 AM

32. PPS down 4.50 so he can buy millions of shares and POOF tomorrow the deal in back on

And...the lemmings send it back up 10.00 per share.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 10:32 AM

33. Supporting calculation

that spam/fake accounts do indeed represent less than 5% of users

The "board" found 6.

but gave Musk a 15% discount.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 11:20 AM

34. That creep looks like the Joker in original Batman series...



And he admires the orange "everything-he-touches-dies" Pingouin.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Justice matters. (Reply #34)

Fri May 13, 2022, 11:58 AM

36. Just checked the clip and that is who I was thinking

Burgess Meredeth's "Penguin" (not Cesar Romero's "Joker" )





Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 12:30 PM

37. Elon Musk Shows Some Buyer's Remorse With Twitter

Musk will have to pay Twitter a breakup fee of $1 billion if calls off the deal. This was always a sketchy deal with suspect financing. The use of a margin loan never made sense, Musk likes the attention but making this transaction work in the real world may not be n the cards.



https://www.bloomberg.com/opinion/articles/2022-05-13/elon-musk-shows-some-buyer-s-remorse-with-twitter

Elon Musk took to Twitter early Friday to say that his takeover of the company was “temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users.”....

I suspect Musk’s jitters about buying Twitter are all about the money and has nothing to do with how many bots are zooming around the platform. He just doesn’t want to say that. If the richest guy in the world wanted to be more honest about what’s going on, he might have to acknowledge that his primary credit card — his shares in Tesla Inc. — doesn’t have the buying power it once did.

Musk said last month that he wanted to buy Twitter for $43 billion — when he only had about $3 billion in cash on hand. Most of the fortune of the world’s richest man, which added up to some $259 billion at the time, was tied up in his Tesla shares. Since then, Tesla’s shares have lost about 36% of their value, and Musk’s net worth has fallen to about $215 billion......

After all, Musk’s tweet about how many fake accounts there are on Twitter linked to a Reuters news article that is 11 days old. If this was a possible deal-breaker for him, he could have said so then. But the stock market wasn’t unwinding as rapidly at the time, either.

Musk has been able to use his Twitter bid to secure more attention for all of the things he doesn’t like about it. He tweeted yesterday that although he would prefer “a less divisive candidate” for president in 2024, he thinks that Twitter should end its ban on former President Donald Trump. In that context, “less divisive” appears to be a polite way of saying “someone who hadn’t torched the Constitution and tried staging a coup.” But Musk doesn’t appear to be bothered by those nuances – which, of course, makes him a questionable steward of Twitter’s future.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to LetMyPeopleVote (Reply #37)

Fri May 13, 2022, 12:42 PM

38. Some of the "trial balloons" might also be a fundraising scheme

and quid pro quo offer to RW billionaires to maybe "bail him out" by buying some Tesla shares in exchange for...

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 12:51 PM

40. Did we learn nothing from the orange blob?

Known for his freewheeling and sometimes impulsive business style


Gee, the description sounds so familiar. Phrases like this are just the polite code for 'jackass.'

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 04:52 PM

43. Trumpers scammed once again

But he's still committed to the acquisition. Are they crying?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 05:32 PM

44. I would have kicked the tires before I got ready to spend 44 billion dollars

Did he just wake up one day and say, "I reckon I'll spend $44 billion on something.

God.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Fri May 13, 2022, 05:53 PM

45. Cryto Ponzi artist

Reply to this post

Back to top Alert abuse Link here Permalink


Response to godfree2 (Reply #45)

Fri May 13, 2022, 11:25 PM

49. This should be its own OP. nt

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Sat May 14, 2022, 09:00 AM

53. Kick

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BlueWavePsych (Reply #53)

Sat May 14, 2022, 09:22 AM

54. ...



That's perfect!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to BumRushDaShow (Original post)

Sat May 14, 2022, 10:32 AM

57. Never mind the political rhetoric, he's in business for money.

 

The company was losing money and he thought a bit of populism would turn it around.
And he certainly made the stock go up. Perhaps now he will take his profit and bug off, leaving a stink behind him.

Full disclosure: I have never been on Twitter and don't plan to start.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread