He indicated that his proposal was no longer subject to business due diligence (or securing financing). But at the same time - indeed in the same paragraph - he reiterated that it was still conditioned on other forms of due diligence, to include accounting.
Got a tip for us?
Let us know
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.
Twitter Sues Elon Musk to Force $44 Billion Merger
- Thread starter MacRumors
- Start date
- Sort by reaction score
I’m not a Twitter fan, but this whole thing has been a top ten story in the news for months now and we have all been able to read about it each time they have released data that Musk has requested, including the “firehouse data”. So when Musk denies this reality, why are we supposed to believe anything else he says? Because of his devil may care attitude?
A lot of people I know just left Twitter over it too. I tried to tell people to be patient because Elon probably won't be able to buy it, but they didn't listen. These deals are massive; never believe anything until it's actually done.
I’m waiting for the SEC indictment for market manipulation due to using a mooted twitter purchase as a cover for selling 8 billion in Tesla stock grants without driving down the share price.
I have to wonder what howling wilderness of an environment would distort your view of reality to such an extent that you would describe Musk in such a laughable asinine way
These are the consequences of Twitter’s fraud, bad faith, and ideological zealotry; they’re the ones who will soon be, if they aren’t already, be investigated by the SEC and brought up on criminal charges
Honestly Musk seems like he may be bipolar. One day he thinks, "I'll buy Twitter. It'll be awesome and, of course, I'll make tons of money!". The next day he goes back on his meds and goes "Oh, $#!^ what have I done!? How am I going to get out of this one?"
Well, this didn't take long, although the rumor mill is that Musk is trying to shave $1B from the purchase thru this move.
Looks like there is a number missing there, between the 1 and the B. Perhaps a 0 or a 5?
It's hard for me to believe that Musk would create all this drama, get taken to court, hire and pay laywers who knows how much (> $1 million?) to defend him, tank Tesla's stock price, etc. just so he can pay $43 billion for Twitter instead of $44 billion.
No it is not. It is pretty easy to spot fake vs real accounts. Not to mention people who have used twitter knows that number is a lot higher than 5 percent.
I’m no fan of twitter either but I hate suckerberg and FB more. So no, I don’t want him to walk away as the big winner here.
That would be the army of analysts at the company I work for who blacklisted TSLA simply from the risk that he posed to the value by doing stupid stuff. Plus I’ve worked for at least three Musks. But don’t let your blind love see rationally.
What has happened to Elon Musk in the past few years LMAO. All that man had to do was just lay off the internet and focus on his many extremely successful businesses.
What even was the point of any of this? Even if you have the money for it, why on earth would anyone want to own 100% of an entity like Twitter, that has proven time and again to not only be the least profitable among its competitors, but also an insane liability and a headache to moderate and handle.
This was all utterly inane to begin with and now it's just tipped over into a full-blown circus.
What even was the point of any of this? Even if you have the money for it, why on earth would anyone want to own 100% of an entity like Twitter, that has proven time and again to not only be the least profitable among its competitors, but also an insane liability and a headache to moderate and handle.
This was all utterly inane to begin with and now it's just tipped over into a full-blown circus.
As someone who has worked in Digital Advertising and Marketing, I can assure you that Facebook has it claws sunk deep into almost every single website you have ever visited, to a degree that Twitter cannot even imagine doing.
Even if the Facebook platform itself goes belly up tomorrow due to lack of users, the amount of contingencies they have in place to shift over business to various other platforms and non-facebook partner websites is unimaginable. Its like cutting off a dragon's head only to be greeted with 10 more of them.
Look up what a "Facebook Pixel" is and you'll understand what I'm talking about. It is a full-blown tracker that is deeply integrated into websites that records every little scroll and click someone makes. This tracker is the primary data gatherer which makes Facebook ads so good...its because they know everything about you.
Almost anyone with a functional online business has a Pixel integrated into their websites so they can effectively advertise on FB, IG, etc.
Yes, discourse on Twitter is more public and causes surface-level damage, but Facebook is dangerously pervasive in a way that it becomes practically unavoidable to anyone using the internet.
Last edited:
Certainly there are bots on Twitter but I'm a fairly heavy Twitter user and don't see a lot of overtly commercial, spammy/ scammy ones
Twitter taking Musk to court to force through the deal is a huge risk in my opinion because to me it looks like Twitter are saying it is Musk's fault for not doing his due diligence on the company before he agreed to the deal, a deal which he accepted Twitters claim that they only have approx. 5% of fake/spam accounts and now Twitter are trying to hold him to that.
Are Twitter going to actually stand up in court and say because Musk accepted the deal as is, he lost his right to investigate the terms of the deal he already agreed to?
Are Twitter going to actually stand up in court and say because Musk accepted the deal as is, he lost his right to investigate the terms of the deal he already agreed to?
You do due diligence before the deal or based on specific contingency. In this case Twitter will be suing for specific performance because monetary damages are inadequate.
Trump formed his own social media with less money than $44B.
Why didn't Musk use $44B or even better, much LESS just to form his own social media?
Why didn't Musk use $44B or even better, much LESS just to form his own social media?
Musk's cult of personality is many magnitudes smaller and less powerful than Trump's. Trump creating his own platform was always going to get a huge (and more importantly, rabid) user base. Not so for Elon.
Either way, like I have said in one of my earlier posts, owning Twitter is so pointless I don't even know what Elon was trying to pull. It's barely profitable compared to other social media platforms and is a massive liability to manage in terms of content. Just make things that actually matter like PayPal and EVs and Rockets lol instead of trying to buy the internet's ********* echo chamber.
And i am sure it will be Musk's lack of due diligence that will be called into question but don't you find it a bit odd that Twitter is refusing to give Musk data he has requested so he can validate Twitters claim of 5% fake/spam accounts with Twitter sticking to their claim of 5%, a claim that Twitter say's Musk accepted was correct because if it wasn't he would not have agreed to the deal.
Musk has every right to try and validate the 5% fake/spam account but Twitter seems to be implying that he does not have that right because he already agreed to that claim when he agreed to the deal and thus is not allowed to check it after the fact.