I’d like to know on what conditions he got those $25.5b + $7.14b from his backers & investors, what exactly did he promise them (other than untold riches, of course).
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Twitter Inc. published its account of the negotiations of the $44 billion (€42 billion) deal the company closed with Elon Musk after he declared the acquisition to be “on hold.”
In Twitter’s account of the negotiations, Musk never requested a non-disclosure agreement to prevent the company from talking about the negotiations, nor did he ask any questions about the company’s business.
Twitter’s proxy statement, published for shareholders to understand and vote on the deal, depicts Musk as in a hurry to conclude the negotiations that took place over the weekend of April 23 and April 24 with his “best and final” offer.
[…]
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Yeah, I’m thinking Musk may have realized the fact that he has no plans whatsoever that will actually make an income from Twitter and that his entire shtick was to pump and dump, something that may not work on the loan agreements he has, which may expect, you know, actual earnings.
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I really believe he had zero interest in buying Twitter, he just wanted to stir the pot for attention and somehow influence politics with his whole freedom of speech secret algorithm nonsense.
Kind of like I really believe the last guy didn’t actually want to be president, he just wanted enough attention to get ratings which he thought would make him money.
And just like Musk it went further than they thought and neither one can or could back down.
Just my opinion which doesn’t mean much.
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He would lose way more than a $billion if the deal went through. Take the exit, Musk, don’t be an idiot.
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I agree with the added caveat that Musk wanted to mess up twitter in such a way that even if bad things were said about him and his ilk on the platform, it wouldn’t sting as much due to its decreased influence.
I figure that at heart, he figures if he could ignore twitter without repercussion, it’d be worth a billion or two. But probably not 45 billion… for that he’d want the twitter clout working in his favor and he’s probably figured out there’s no way that was going to happen even if he successfully caught the car, so to speak.
For an alternative, but refreshingly grouchy take on the situation, we have Patrick Boyle, aspiring rap connoisseur’s* take on the situation:
*quantitative finance as a discipline gets no respect these days
Evidently ceasing to criticize various Saudi human rights abuses is part of it.
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Money doesn’t buy taste, nor does it buy intelligence.
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Will the SEC come wanting to talk to him about market manipulation? Looking at the swings in the price of Twitter stock, I wonder if he could be facing serious Federal charges.
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