Originally published at: Musk's attempt to monetize Twitter has failed | Boing Boing
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He might be able to make one more interest payment. After that the banks and the Bonesaw clan will start collecting the collateral.
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Surely a shareholder lawsuit is inevitable at this point, too, no? And not just against Musk, but against the previous Board for authorizing the deal. It’s not like no one predicted this outcome.
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I wonder if ol’ Muskie can make a trip out to whatever prison’s holding SBF, for a quick primer on how to use income from one source (i.e. government-supported Space-X) to prop up another?
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Churn rate is more the percentage of users who are transitory, coming and going. If they’re all going, then there’s probably a more dire term for it. Death spiral?
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No, because there’s no shareholders. All the outstanding shares were bought up.
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all I see is chum rate and I’m sticking to it
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Money absolutely does not buy brains, what a fucking loser. yes Elon, you are the loser.
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What a maroon! 
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That’s a problem with the keming…
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Just like your money, Elon.
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Ah, right. It does appear that Jack Dorsey still owns a $1 billion stake in Twitter, though. I suppose he could sue, although I’m sure he won’t. That could be fun, though.
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He might buy it back at a fifth of the original selling price.
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That would be a generous offer.
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Do you mean the previous shareholders? They got paid, right? So would it be they didn’t get paid enough? I think they made out the best.
Or do you mean the current partners and debt holders? That’s a group I wouldn’t want to mess with.
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Billionaire proxy rake fights.
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He’s already siphoned it off into its own company and made its debt pretty much away from any of his own personal holdings. That’s what happened recently when Twitter Inc went away. Even if the new company misses the interest payments, there’s not going to be anything of Elon’s to go after.
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Yeah, the shareholders got lucky. They all received well above the market price for their shares. Before Musk announced his plans to buy the company on April 14, 2022 it was trading right around $45/share, and Musk paid $54.20/share. His idiocy was definitely to their financial advantage.
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Which is why Dorsey is so ultra-extra fucking full of shit when he says things like the board shouldn’t have forced a sale – the board had a fiduciary responsibility to the shareholders to sell that thing for that price and to fight to get it done. Musk massively over valued the company and waived his rights to due diligence. This is a whopper all time “Bad Idea.”
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