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Elon Musk Puts $44 Billion Twitter Deal 'On Hold' [Updated]

thadoggfather said:
If there's so many, please, do enlighten.

Automatically exempt:
-copying and pasting URL's to rage filled clickbait articles, use your own words and thoughts if you can
-spicy tweets of no consequence
-projection/mind reading
-silly photos used a central argument, see below:
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Sure, I'll play. Some of the reasons are:
  • Buying multiple startups, then pretending like he founded them (Paypal, Tesla)
  • Pretending he's self-made even though he entered the game already filthy rich
  • Pushing retarded uneconomical "innovations" just to please his ego (hyperloop)
  • Being blatantly against worker's rights just to keep his profits up
 
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Substance90 said:
Sure, I'll play. Some of the reasons are:
  • Buying multiple startups, then pretending like he founded them (Paypal, Tesla)
  • Pretending he's self-made even though he entered the game already filthy rich
  • Pushing retarded uneconomical "innovations" just to please his ego (hyperloop)
  • Being blatantly against worker's rights just to keep his profits up
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Gosh that's boring I almost dont even want to bother but I suppose I'll indulge:

-there's a long history surrounding this and that's a matter of opinion not fact it seems.

I'll admit haven't spent much time on the matter and I don't think you have either. Sorry he hypothetically gipped you out of claiming stake in Tesla personally. Or that this is a unique situation, even if true (which I suspect is not). He stuffed his competition in a box and locked him away in the basement so he could play 'pretend engineer' for Tesla. Got it.
It's a 'Show me on the doll where he touched you - sort of thing.'

-I genuinely dont care if he's filthy rich, that's such an old trope being resentful of people for just being successful -people are allowed to be successful in life believe it or not it's not a cardinal sin on its own, lots of people are filthy rich and aren't worth a piss / have done nothing with their lives or even willfully destroyed society - even worse. Even the non-self made man trust fund kid, hey that's their daddy's money not mine. They may lack productivity and character, but they are allowed to exist. And why would daddy give you money when he has his own kid to give it to?

-opinion not fact. I said no mind reading but you couldn't help yourself.

-Where's your iPhone made again and how's their life going? A whatabousim to be sure, but come on, again - matter of opinion not fact. The reality is, in America you are free to work where you like. If you aren't being treated well and/or find a better offer, you are eligible to mobilize on your own accord.

Not happy with your cozy 6 digit+ Tesla engineering job? Yeah poor you. Im sure Apple, Amazon, Google, Meta, and others have been throwing themselves at you to get you to 'come over.'
 
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thadoggfather said:
-there's a long history surrounding this and that's a matter of opinion not fact it seems.
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How can specific dates and people's names be a matter of opinion?!
  • Confinity (PayPal's predecessor) was founded 1998 by Max Levchin, Peter Thiel, and Luke Nosek. Next year Musk together with Harris Fricker, Christopher Payne and Ed Ho launched a Confinity clone (x.com) which then got merged with Confinity. Elon Musk became CEO for a short time but was fired for being so bad at it. THEN the company got renamed PayPal and got sold to eBay. Musk still had his share so by coincidence he made a fortune. One might PayPal was successful despite, not thanks to Musk.
  • Tesla was founded by Martin Eberhard and Marc Tarpenning in 2003. Musk took over in 2008.
 
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Some speculators have been suggesting that Musk is going to use some Tesla stock to help in the purchase of Twitter but as of lately Telsa stock has been dropping thus reducing how much Musk can use to help him purchase Twitter. If Musk is now struggling to find the funds to complete the purchase and is thus looking for a way out, the SEC will take a very dim view of this because both companies share value have dipped and risen over the knowledge of the sale ad if Musk pulls out the SEC could claim that all of this was done to manipulate the shares of both companies, something Musk has already been found guilty of for tweets he made about Tesla which increased the value of the shares.
 
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falkon-engine said:
Why didn't Twitter reject this deal? Now they're beholden to the whims of an unpredictable billionaire. Chasing the almighty dollar doesn't have to mean selling your soul to the devil, I mean to Musk.
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The board's responsibility is basically to the shareholders and their (financial) best interests. In the month prior to Musk announcing his 9.2% purchase of Twitter, the stock had been trading for around $32 to $40/share thereby making Musk’s $54.20 offer a notable premium over market price. But regardless of what may be happening now as far as fake/spam account or other issues, the deal would still need shareholder approval anyway and could be blocked if not enough shareholders vote to approve.
 
BradWI said:
He probably realized this was a horrible idea and found an out with the fake account argument.

Twitter stock back down, Tesla stock up in pre-market trading.
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This is what I expect. Everyone was saying he could not walk away without being hit for the $1 billion dollar penalty - the audit of fake accounts is his "get out of jail free card".

He's another world-class grifter - he got even more free press to build his mythology, but will likely walk away without cost (other than some small legal fees) to himself.
 
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thadoggfather said:
-I genuinely dont care if he's filthy rich, that's such an old trope being resentful of people for just being successful
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It doesn’t read like a resent of rich people, more like resenting rich people that pretend that they were born poor. And, so, has he ever claimed to not come from rich parents?
 
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Unregistered 4U said:
It doesn’t read like a resent of rich people, more like resenting rich people that pretend that they were born poor. And, so, has he ever claimed to not come from rich parents?
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I just think you’re singling out a South African American and it’s kinda getting creepy so gonna bow out.

I don’t care what he claims you’re getting carried away by cult of personality stuff that really doesn’t make any difference.

Destitute not destitute — his accomplishments are impressive. Yours is a “you didn’t build that” take
 
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I wish we could put all news reporting involving Elon Musk on hold until Tesla delivers a non-beta version of “Full Self Driving” to all the customers who paid for it.

So sad that people feel that like they have won the lottery when they get selected as a beta tester for a feature they purchased years ago.
 
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thadoggfather said:
I just think you’re singling out a South African American and it’s kinda getting creepy so gonna bow out.

I don’t care what he claims you’re getting carried away by cult of personality stuff that really doesn’t make any difference.

Destitute not destitute — his accomplishments are impressive. Yours is a “you didn’t build that” take
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I couldn't care less if he's from South Africa or not. I love South Africa. I'm German and I go to South Africa every couple years for holiday.

What I care about is that he's a total con man and a douche bag, screwing over customers, workers AND co-founders wherever he gets a chance.
 
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Freeangel1 said:
I hope he cancels. I think he'll make Twitter worse.

Dont like Tesla Cars either. Once they catch on fire takes a long time to put out a battery acid fire. Just ask a fireman.
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He wont and it wont make it worse.

Both my tesla's have never caught fire. Besides gas cars catch fire every day, but oddly enough you only hear about Tesla's doing it.
 
I still think he used this as cover to sell a lot of TSLA stock without tanking the stock from doing so.

This was a perfect and understandable excuse to do that.
 
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thadoggfather said:
lol an armchair investor and dealmaker suggesting what he should have done, with his own money, when what he has done and is doing is of no consequence to you, is wonderful. Your knee jerk reaction has little relevance in a long game situation.

Your anger is misguided

"It's not in the stars to hold our destiny but in ourselves"

--

Anyone notice how touchy a certain side gets about free speech potentially being restored? Their ideas stink and the only way they've had any credence is from suppression of dissent, specifically censorship.

Fun times ahead!
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Do kindly, let me know when he has actually done something with his own money in regards to Twitter. So far all he has done is make a lot of noise proclaiming what he would do if he were king and trying to cobble together financing from others to back his offer. My prediction is the deal doesn't close and he does all he can to welch on the $1 billion break up fee.

This is not armchair investing. This is not suggesting what I would have done in his place. Due diligence on a company before a buyout offer is what every reasonable person would have done. His rush to make an offer was criticized by a multitude of experts. Many of which predicted this very outcome and doubted his seriousness as a result of him not doing it.

But go ahead and talk about "free speech" and "anger" because your favorite troll lost bigly at the game of "put up or shut up"

PS - I have not heard a single word from Musk recently about Bill Gates shorting Tesla Stock. I hope Bill didn't close out those positions.
 
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Musk tweeted that he's still committed.

He should be committed. It's too bad he took the good will he had garnered with SpaceX and threw it away to involve himself in political nonsense.
 
EugW said:
How does that work? He doesn't own twitter yet.
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I mean he already purchased ~9%. That along with the initial talks about purchasing outright, the stock shot way up.

He even talked about ‘reconsidering His stake’ if the board rejected his buyout offer.

Although now I’m checking it, admittedly over the last week the stock’s plummeted again so maybe it’s not so bulletproof a theory ?
 
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I think Elon doesn't believe the new filing that Twitter's bots make up only 5% of the user base. It was quite suspicious because following Elon's announced acquisition, the day after had right wing accounts gaining thousands of followers as right wing users were unbanned while left wing accounts were purged as fake with prominent leftist users losing thousands of followers. The evidence does not suggest a sudden inflow or outflow of real users, so something algorithmically was probably afoot. The day of the announcement showed no real inflow or outflow, real or imagined, so why did the changes take a full day to manifest, and to such a large degree?

Twitter was possibly covering up some misdeeds, potentially illegal, and that filing cast a huge red flag over the happenings of the last few weeks. Twitter's not worth saving if a large amount of the user base doesn't actually exist. Elon just wants Twitter to prove that 5% figure. If they can't, there are some Twitter execs going to prison for defrauding the public and lying to the SEC. Once Elon gets comfortable with the actual size of the user base, he may ask to renegotiate the price or he may just go ahead and buy it if Twitter's numbers are accurate, though I rather doubt that. If they are accurate, the "readjustments" in left and right wing accounts may have been necessary to reach that figure.
 
macduke said:
Weird, I didn’t realize Elon Musk is a politician now, MacRumors.
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I respect that that is what this thread is labeled and give applause to MR here. If it weren’t any spicy discussion would be stripped out.

At least now we can discuss
 
FloatingBones said:
Tesla is not a social media company.
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It doesn't matter. Musk is an advocate (or so he claims) of free soeech. Yet he tried to get China to censor Tesla critics over there. Let's see how dedicated he is to free speech when Twitter is flooded with anti-Tesla comments.
 
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