Punished Miku
Human Rights Subscription Service
Twitter deserves to win in court against him. Thats correct. Hes somehow managed to make me side with Twitter. Incredible.
Elon Musk terminates his Twitter deal
- Thread starter DragoonKain
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Melon Husk
Member
Selling your own shares at the public market at the all-time high
Then shorting your own stock months later at not much lower price without anyone realizing what you did
Is a killer 1-2 punch
Like no other
Then shorting your own stock months later at not much lower price without anyone realizing what you did
Is a killer 1-2 punch
Like no other
GHG
Gold Member
Far too late. You might be able to catch a couple more dollars to the downside (provided it opens at 35 on Monday) but the risk to reward is poor at the moment. The low 30's is where people tend to step in and buy, that's where all the volume is.
newtypepilot
Member
lawsuit incoming??
no it was going to be like what gaf is to era.
saturnalian
Member
It's time for twitter to go the way of myspace. The future is decentralized social media, like Mastodon & such. It's already getting there, even an elderly former US president has his own Social Media network, Twitter is a frickin dinosaur at this point. In the near future issues of whether or not to federate unique social media networks will become more investigated, and I believe more tools to govern federation will come about, and it'll blow up.
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Craig of War
Banned
Not really a flex man
Musk going against his words is not a good look
Dr.Guru of Peru
played the long game
I'm shocked.
Kev Kev
Member
Nobody_Important
“Aww, it’s so...average,” she said to him in a cold brick of passion
Oh he will be paying a lot more than just one when this is all over. Even if he does not end up buying Twitter they are going to take him to the cleaners for damages and he's going to have to pay out the ass for his legal representation.
Buggy Loop
Gold Member
Crayon
Member
I don't know much about this stuff. Are the damages for the pr fiasco or for jerking their stock around?
Nobody_Important
“Aww, it’s so...average,” she said to him in a cold brick of passion
They will probably be going after him in a variety of ways for how much he has screwed with them. The main one though will be about the stock. And even one of the richest men in the world will have to wince when he sees the legal bill when this whole circus is finally over in a couple of years. He could buy a few Islands as well as keep a small African nation afloat for a decade with what he's about to spend on his legal team.
I obviously don't like the guy, but I do genuinely hope that he learns a few lessons from all of this and comes out better for it.
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saturnalian
Member
Dude, Elon makes Teslas and rocket ships, Twitter doesn't stand a chance if it comes down to a money-war.
Nobody_Important
“Aww, it’s so...average,” she said to him in a cold brick of passion
Well then it's a good thing it's not a money war then.
It's a legal one. And Twitter by far and away has the edge.
saturnalian
Member
Lawfare is always and undeniably (atleast in the USA) determined by monetary advantage.
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DeepEnigma
Gold Member
You need to get different programming sources.
Nobody_Important
“Aww, it’s so...average,” she said to him in a cold brick of passion
Usually you would be right, but this involves a contract that he signed. There are tweets verifying his offer posted by himself. Twitter will also be able to show their end of everything and how Musk started to try and weasel his way out of the deal.
Unless Twitter has MASSIVELY fucked up that contract or done something else we don't know about Musk is 100% boned. The only question is how badly.
All Musk has to say is the financing depended on verified user accounts. Since Twitter refuses to give real numbers or let anyone else verify. He's off the hook.
This is all in the contract they both signed. Look it up.
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Nobody_Important
“Aww, it’s so...average,” she said to him in a cold brick of passion
And Twitter will argue that is bullshit and that Musk is violating his contractual obligations.
This will take years.
Twitter can say all they want. All Musk needs is for the banks to say yes our funding was contingent on verifying the numbers. Case closed.
Nobody_Important
“Aww, it’s so...average,” she said to him in a cold brick of passion
Yeah okay lol
BadBurger
Many “Whelps”! Handle It!
Those in the usual echo chambers are all already repeating the same exact messaging, as expected, as they always do because they are incapable of having an original thought - needing to be told what to think by their chosen authority figures.
Meanwhile Twitter is vowing to sue:
Twitter says it’s going to sue Elon Musk for trying to back out of the deal
It’s going to get messier from here.
www.theverge.com
So maybe the fun really is just getting started? I am still eager to see how the shareholders of his other companies react.
Clear
CliffyB's Cock Holster
Doubtful, Elon didn't become the world's richest man by being fiscally irresponsible.
He can afford the best legal counsel money can buy, so I doubt he's made any move without a lot of scrutiny.
And besides, what's the worst case scenario? He ends up being bound to acquiring a company that is over-valued in its current state... It just means he needs to improve its profitability up to a level that justifies the investment.
The worst potentialities are all for Twitter, with literally only one positive outcome; That somehow they get Musk to compensate them for pulling out? Something that if you think about it, is a pretty big ask when it places the responsibility on them to prove that he was never serious about the deal, or that it was some sort of gambit for his enrichment at their expense.
Meanwhile on the other side, Musk's legal team simply needs to demonstrate that the bill of goods isn't actually worth the price-tag, and that it was fiscally prudent for him to withdraw. Which of course will inevitably expose information that no big-tech company would want to share!
Do you not think all these big tech service companies are probably massively over-valued? The internet has been prone to bubbles and general volatility since the very beginning. Mainly because its a weird market that doesn't really produce any sort of material goods, its all about traffic.
If Musk can show a far greater than hitherto admitted amount of bots and other white-noise traffic on Twitter it could really shake the foundations of the new digital economy. Because if its happening on Twitter, how likely is it that its the only place?
It is literally in the contract that if Twitter does not provide the necessary details required for financing he can leave the deal. The banks will be on Elon's side. This isn't rocket science.
akimbo009
Gold Member
Gonna be a lot of broken hearts around here....
Clear
CliffyB's Cock Holster
I think some people are forgetting that irrespective of whether the mergers concludes or not, Musk is still going to be Twitter's biggest share-holder! Don't forget he bought 9.2% back in April, the merger was for the remaining shares.
That being the case, it kinda shows that damaging the value of Twitter was never in his interests.
That being the case, it kinda shows that damaging the value of Twitter was never in his interests.
chromhound
Member
Twitter probably lied about the number of bots they had
LegendOfKage
Member
Sub_Level
wants to fuck an Asian grill.
This whole thing seems like a waste of time & money for all parties involved. I guess we'll see a resolution in ~2025 when the courts maybe finally reach verdicts on the lawsuits, cuz god knows our system is slow as hell. Musk has infinite money but not infinite time so I cant imagine he will be happy about dragging this thing out too long either.
The Pleasure
Gold Member
Elon makes shit? He bought his way in and takes credit. Elon doesn't make shit. He's the rich kid claiming credit on what everyone else made.
Thirty7ven
Banned
Even when he makes dumbs moves you got these idiots telling us it's all part of the plan. Cult of personality is very powerful.
D
Deleted member 1159
Unconfirmed Member
Tieno
Member
obligatory
Punished Miku
Human Rights Subscription Service
A lot of people prefer to not think for themselves. "Hey I like the look of that guy. He can tell me what to think. Way easier."
MastaKiiLA
Member
Burning a billion on cancelling this deal is still a pretty tough pill to swallow. But it will be less than the absolute bath he'd take on the overpay that was his official offer. Zero sympathy for this dude. People should stop cheering for this dude. He's just another corporate guy. He's got some ambitious ideas, particularly with regards to space exploration, but giving people like him control of a platform like Twitter has the potential to be really problematic.
I hope he is legit out of the deal, and will focus on other ventures. His fascination with social media is possibly the worst aspect of his public persona, to me.
I hope he is legit out of the deal, and will focus on other ventures. His fascination with social media is possibly the worst aspect of his public persona, to me.
jufonuk
not tag worthy
Member when Elon tried to solve world hunger ? Member ?
FunkMiller
Banned
Anyone still thinking this is Elon Musk playing some kind of four dimensional, giga-chad chess with Twitter is sniffing way too many of his farts. It's never good business to enter into a takeover of this kind and pull out at this stage. He fucked up. They fucked up. Everyone fucked up. Will it really do him that much damage? No. That's probably why he went for it in the first place.
Now watch Bezos (who is probably the business guy everybody thinks Elon is) buy it instead.
Now watch Bezos (who is probably the business guy everybody thinks Elon is) buy it instead.
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captainnapalm
Member
People seem awfully desperate to paint this as some major loss for Musk. Buying Twitter at the price agreed if he feels Twitter is being dishonest and unethical about its actual value would be a much bigger loss.
At the most, it's only going to cost Musk some money if he has to pay a penalty, and he's literally the richest man alive. And we'll see what the courts say because Twitter was clearly not being forthcoming in the months leading up to this decision.
The only major loser here is Twitter, whatever the outcome. They're a mickey mouse organization run by complete idiots making up the rules as they go along, and they won't even share what the actual rules are. Things there are already an absolute shambles.
At the most, it's only going to cost Musk some money if he has to pay a penalty, and he's literally the richest man alive. And we'll see what the courts say because Twitter was clearly not being forthcoming in the months leading up to this decision.
The only major loser here is Twitter, whatever the outcome. They're a mickey mouse organization run by complete idiots making up the rules as they go along, and they won't even share what the actual rules are. Things there are already an absolute shambles.
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