Elon Musk Buys Twitter

[Starkiller]

Think of all the useful things that Elon could have done with $44B instead of effectively lighting it on fire in order to kill Twitter. 

[Jamalisms]

I don't think he wanted to kill Twitter. I think he wanted to get Trump back on Twitter. The biggest campaign donation in history. He regretted it and tried to pull out but might as well do it, since he was forced to buy it.

[Starkiller]

I don’t think Elon's goal was to kill Twitter. I just think his plans were inevitably going to lead that way. 

[luvyablue256]

2 hours ago, Starkiller said:

Think of all the useful things that Elon could have done with $44B instead of effectively lighting it on fire in order to kill Twitter. 

 

Who funded the purchase? 

[reo]

 

 

 

[Jamalisms]

23 hours ago, reo said:

 

 

 

 

Hmm. Not certain about that but I'll look into it. If he can't come back, I might reconsider.

[OILERMAN]

 

[reo]

https://www.wired.com/story/elon-musks-twitter-risks-big-fines-from-ftc-us-regulators/

 

Might... not be a great time to fire 80% of your staff Elon.

 

 

 

If the FTC finds that Twitter isn’t complying, the company could face steep fines and additional consent decrees, Vladeck says. Because the company has already been fined for breaching its original consent decree, the punishment for another breach would be significant, and could place Twitter under even more stringent requirements to ensure security is maintained.

 

“This is one of those cases where, if there’s an additional order, there will be personal responsibility for Musk,” Vladeck says. “His neck may be on the chopping block if there’s another consent decree, and there may be personal responsibility for other significant people within the organization.”

 

The FTC’s treatment of Facebook helps illustrate the danger to Musk and Twitter. In 2019, following a complaint alleging violation of a 2012 order, the agency hit the company with a record $5 billion in fines, and named CEO Mark Zuckerberg personally responsible for compliance and certification of documents under penalty of perjury. Heavy fines could be a major problem for Twitter, which, as part of Elon Musk’s takeover, was loaded with debt.

 

 

 

All speculation at this point but interesting

 

 

 

Edited November 24, 2022 by reo

[9 Nines]

I searched for why he was kicked out of Paypal, finding an article with a picture of him then and now.  That picture adds even more evidence that he is young Trump - like Trump and his wild comb-overs, Musk evidently wears a toupee  

 

[9 Nines]

Anyway, on NPR 1A this week, they were discussing Musk.  There was a Musk-fan on it, he was saying Musk plans to turn Twitter into a bank fulfilling his vision for Paypal.

 

How much Musk had to do with Paypal is not known.  He had a fortune from crazy money Compaq paid for his basic Zip2 website, bought a bank either in or near bankruptcy for the bank charter, then was able to get into Paypal with the real founders so they could use that bank charter, but was quickly shut out of Paypal as far as management but held his share of the company.  So evidently he is going to try to make Twitter into what the other Paypal people thought was a bad idea. 

 

He seems to be thin-skinned, and articles I found indicate he has admitted the Paypal firing hurt him.  He probably is going to throw everything to fill that hole, in an attempt to prove his vision for Paypal was right.  He was likely wrong, and will throw everything away proving he was wrong. 

Edited November 24, 2022 by 9 Nines

[pat]

Is Twitter even a going concern?

 

https://arstechnica.com/tech-policy/2022/11/twitter-missed-payroll-for-some-european-staff-this-month/

 

https://www.engadget.com/twitter-is-reportedly-failing-to-pay-some-bills-amidst-cost-cutting-measures-123507995.html

[TitansFan777]

Musk using Twitter to wage a free speech culture war against Apple today. Of course, his weird bro-incel worshippers and newfound right-wing nutjobs are repeating it. 

[NashvilleNinja]

I don't buy into all the Musk hate-farming going on in this thread, but I do wonder if all of Musk's activity with Twitter, good or bad, has anything to do with Bluesky. From my memory Jack Dorsey wasn't exactly critical of Musk's pursuit of Twitter.

 

I mean, if Musk is doing as poorly a job as you guys say, and Dorsey knew it would happen it'd be an interesting way to cut your competition down.

 

https://www.cnbctv18.com/cryptocurrency/twitter-bluesky-jack-dorsey-led-decentralised-social-network-rival-15063381.htm

 

"The project is called Bluesky and was commissioned by Jack Dorsey when he was still the CEO of Twitter. And with more than 30,000 signups for its waitlist in less than two days, the project is quickly being touted as an alternative and perhaps even a replacement for the Musk-owned Twitter."

Edited November 30, 2022 by NashvilleNinja

[abenjami]

Here's something I just thought of that made me laugh.

 

Think about where you were around 1990.  Many of us were in high school.  Some of us were younger, others were in college, etc.  Regardless of your age, just imagine where you were in 1990.

 

What would you have thought back then if someone told you that there was a 19 year old kid who was going to get rich by selling cars that didn't use gas.  And then he would spend $44 billion dollars to buy a company that really has no product and loses millions of dollars a year just so he could be popular and control the ability to talk shit worldwide.

Edited December 1, 2022 by abenjami

[9 Nines]

Imagine it is 1941, you are in a German concentration camp, starving, fixing to be put to death after months of torture, and someone told you in 1990 there will be a kid, who will become richer that anyone's wildest dream for doing nothing, all from lucky breaks so he can buy a company with money he never earned to make sure people are not banned from claiming this is not happening to you. 

Edited December 1, 2022 by 9 Nines