DragoonKain
Neighbours from Hell
News just breaking.
-
Hey, guest user. Hope you're enjoying NeoGAF! Have you considered registering for an account? Come join us and add your take to the daily discourse.
Elon Musk terminates his Twitter deal
- Thread starter DragoonKain
- Start date
- Status
News just breaking.
WhatDidHeSay?
Member
...can't afford it 
Elder Legend
Banned
I am confused. Is this some troll? Or what's the context here
D
Deleted member 1159
Unconfirmed Member
Maiden Voyage
Gold™ Member
With the market tanking, it’s not surprising. Also, hopefully this kills Twitter.
Javthusiast
Banned
As opposed to him turning it into the opposite echo chamber?
DragoonKain
Neighbours from Hell
Started to feel after a while he never wanted to go through with it. I think he got hopped up on putting his stamp on the culture wars, and then realized he got ahead of himself over a platform not very profitable and has been looking for excuses to get out of it since.
ForAcademicPurposes
Gold Member
RiccochetJ
Gold Member
Lawsuits are going to start flying.
///PATRIOT
Banned
2022 Keeps getting shittier.
This will just energize the blue hair armpit woke doing the censorship.
This will just energize the blue hair armpit woke doing the censorship.
LegendOfKage
Member
Will he be paying the billion, or is he planing to fight and say Twitter wildly misrepresented their user numbers? Does he have any plans to launch a competitor? I don't even think it would be possible to launch a mainstream non-partisan twitter competitor anymore. Either way, it should be interesting to see where this goes from here.
DragoonKain
Neighbours from Hell
Twitter is going to try to force him to buy it in the courts saying his claims of breach of agreement are unjustified. We'll see how it all shakes out.
They want him to buy it, because he paid a high price for it, and this will destroy its value.
Unless he's using this as a ploy to renegotiate its value down to significantly less.
They want him to buy it, because he paid a high price for it, and this will destroy its value.
Unless he's using this as a ploy to renegotiate its value down to significantly less.
Last edited:
chromhound
Member
Lady Jane
Banned
He never said he was going to do that. He was simply not going to ban people based on political beliefs or for grinding against social messaging that's backed by media. God forbid they may have to respond to opposing views instead of reporting them.
Last edited:
///PATRIOT
Banned
I'm sure he thought this through with his layers, but still this is a very risk bet he is taking.
LegendOfKage
Member
Lawsuits tend to take a while. What are the chances that part of this is being done with the hope that the market recovers a bit before he's forced to buy it? That itself seems like a dangerous gamble, though. Would taking a billion dollar loss and getting nothing in return really be the better deal for Elon at this time? And if so, what does that say to anyone who would think about investing in Twitter?
StealthGoblin
Banned
He was never going to buy it.
DeepEnigma
Gold Member
Don't be intentionally obtuse.
bitbydeath
Gold Member
Maybe he will after the stock crashes hard from this move.
saturnalian
Member
Elon Musk wasn't happy with the way Twitter analyzed their own fake account numbers, probably a lot more bots on that website than we think, and Twitter was lying about it. Gonna be interesting to see.
Craig of War
Banned
Im getting a fake vibe from Musk lately and by doing a look up of his past stuff it seem the dude talk the talk but don't actually back up what he says
& is another false prophet
& is another false prophet
Last edited:
ManaByte
Member
Discovery is going to be fun. Twitter will be forced to reveal the real bot numbers and how they’ve been lying to advertisers about their real user count. Fuck Twitter. Burn in hell shitheads.
DragoonKain
Neighbours from Hell
I want Elon to buy it just to see the mass meltdown of blue hairs when accounts are reinstated after they got banned for saying men are not women.
If that was a real concern, they would have come to the negotiation table imo but let's wait and see.
cormack12
Gold Member
As noted, under various terms of the merger agreement, Twitter is required to provide data and information that Mr. Musk requests in connection with the consummation of the transaction.
Twitter’s obligations to provide Mr. Musk with information is not, as the company’s June 1 letter suggests, limited to a “very specific purpose: facilitating the closing of the transaction.”
To the contrary, Mr. Musk is entitled to seek, and Twitter is obligated to provide, information and data for, inter alia, “any reasonable business purpose related to the consummation of the transaction” (Section 6.4). Twitter must also provide reasonable cooperation in connection with Mr. Musk’s efforts to secure the debt financing necessary to consummate the transaction, including by providing information “reasonably requested” by Mr. Musk (Section 6.11).
Mr. Musk’s requests for user data not only satisfies both criteria, but also meets even Twitter’s narrowed interpretation of the merger agreement, as this information is necessary to facilitate the closing of the transaction.
[......]
Based on Twitter’s behavior to date, and the company’s latest correspondence in particular, Mr. Musk believes the company is actively resisting and thwarting his information rights (and the company’s corresponding obligations) under the merger agreement. This is a clear material breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement.
Twitter’s obligations to provide Mr. Musk with information is not, as the company’s June 1 letter suggests, limited to a “very specific purpose: facilitating the closing of the transaction.”
To the contrary, Mr. Musk is entitled to seek, and Twitter is obligated to provide, information and data for, inter alia, “any reasonable business purpose related to the consummation of the transaction” (Section 6.4). Twitter must also provide reasonable cooperation in connection with Mr. Musk’s efforts to secure the debt financing necessary to consummate the transaction, including by providing information “reasonably requested” by Mr. Musk (Section 6.11).
Mr. Musk’s requests for user data not only satisfies both criteria, but also meets even Twitter’s narrowed interpretation of the merger agreement, as this information is necessary to facilitate the closing of the transaction.
[......]
Based on Twitter’s behavior to date, and the company’s latest correspondence in particular, Mr. Musk believes the company is actively resisting and thwarting his information rights (and the company’s corresponding obligations) under the merger agreement. This is a clear material breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement.
Last edited:
D
Deleted member 1159
Unconfirmed Member
How have the Twitter alternatives promising free speech worked out…oh right, they’re just ideologically aligned with whomever started them too.
I’m not saying Elon would do this to Twitter if he owned it but the track record of the competition touting “free speech” hasn’t been too great.
Last edited by a moderator:
DanteFox
Member
Do we honestly think that Musk would have started banning a bunch of liberal accounts? Letting conservative viewpoints be expressed is the opposite of an echo chamber.
DeepEnigma
Gold Member
As opposed the cesspool it is now? Oh no, challenging opinions to the narratives, comrade... RUN!!!
Especially around election times.
What's that saying? Oh yes.
When You’re Accustomed to Privilege, Equality Feels Like Oppression
Last edited:
DeepEnigma
Gold Member
saturnalian
Member
Twitter's gonna get ripped a new one in court, holy shit. Imagine trying to buy a corporation for 40 billion and the corporation refuses to give all the data beforehand.
Last edited:
DanteFox
Member
The downside of this deal falling through is the end of liberal tears that were flowing from Twitter employees who were upset that their safe spaces would be intruded upon and that they would have to leave their house and go to work again.
Maiden Voyage
Gold™ Member
Yep. This might just kill the bird. Buckle in boys.
ManaByte
Member
Even better are all the Lefties who fled Twitter for a Mastodon server run by a hacker who is going to have fun with their info.
dr_octagon
Banned
BaneIsPain
Member
Ahhh, shame. It was nice to see people crying and smear campaign day & night. Hehehe
12Goblins
Lil’ Gobbie
For some reason I don't think so. I think this be settled out of court, and part of me thinks this is how Twitter saw it play out from the start
Maiden Voyage
Gold™ Member
Mastodon, now is your chance.
IntentionalPun
Ask me about my wife's perfect butthole
The fact some of you think Musk was "bluffing" is just ludicrous.
You don't take on massive loans and literally sign the dotted line on a $44 billion purchase as a "bluff."
The market crashed, and Musk wanted out of the deal.. that's it.. that's all that happened. There is no $1 billion breakup fee either, he owes shareholders the ~$30 or so billion leftover after a he got several big stockholders to get it on private equity deals.
You don't take on massive loans and literally sign the dotted line on a $44 billion purchase as a "bluff."
The market crashed, and Musk wanted out of the deal.. that's it.. that's all that happened. There is no $1 billion breakup fee either, he owes shareholders the ~$30 or so billion leftover after a he got several big stockholders to get it on private equity deals.
Ownage
Member
Discovery will be fun. Wonder if it's gonna be sealed.
- Status