Originally published at: Twitter lawsuits over unpaid bills "typical of companies within a very short window of filing for bankruptcy" | Boing Boing
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With the “I’m going to award stock on March 24th”, I’m guessing that window ends somewhere before then.
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Elon wouldn’t know comedy if it bit him on the ass.
Come to think of it, I’d pay good money to see an animal (I’m thinking wolverine) named Comedy, walk up and bite Elon on the ass. Don’t censor it Elon, don’t censor it.
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Why a wolverine? They don’t seem to mess with humans. Get a big cat in there instead. A lion, tiger, puma, etc. would be a great creature to name Comedy for your purposes.
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My understanding was that if Twitter goes bankrupt, Elno wouldn’t own it anymore and all the money he spent would be gone…
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I don’t think he does. He is heavily leveraged with the Twitter buyout, sold loads of his Tesla stock, which he had already tanked year-over-year, and the first interest payments are allegedly going to be higher than something like 2 years of normal Twitter revenue, which he’s slashed to bits (not gonna find links for all of that; it’s easy enough to find). When people say “he’s worth $X billions of dollars”, what they mean is that his asset portfolio, almost none of which is liquid, is valued at that amount based on SEC filings and tax records and stock prices. It’s a house of cards and he’s revealing that it’s made of those shitty cards you get in a hotel lobby as opposed to a nice Bicycle deck.
Now, having said that, I am all about a bankruptcy asset discovery process for this rube that will inevitably show, just like trump, that all he ever did was buy his way into great ideas with inherited wealth that almost certainly would have been better off without him.
Edited for typo
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I just want to see what a wolverine can do, I’m already familiar with what the big cats can accomplish.
I watch a documentary on wolverines many years ago. What stuck out was a long clip where they showed a wolverine dragging a full-grown deer through the forest, even pulling it over large fallen trees. And the whole time it was growling and snarling like it was possessed by Satan. That, and the fact that most people have never seen a wolverine attack anything, is why I would like to introduce one to Mr Musk.
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Maybe get a pair of hyenas named Comedy and Tragedy like Joker and Harley Quinn have Bud and Lou.
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It is mind boggling that people still think that Tesla stock is worth over 200 dollars per share. When the CEO of two companies drives one into the ground in so little time, people usually get a bit antsy about the other one.
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Ok, I’m in full support of this now.
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Just a couple of months ago it was barely over 100, and even that was overvalued looking at their financial fundamentals. At least some people are betting on the future of the company, and that’s not looking so assured even if Musk is ousted at this point.
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Why not make it a leopard? Then we can make the added joke of how although Elon’s face remains uneaten, his support for the Leopards Eating People’s Faces Party did bite him in the ass.
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You know you’re a misunderstood comic genius when the pointiest headed boss of them all is the only one who gets you.
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TechCrunch claims that some of the execs that Musk laid off recently had been on a “do not fire” list because their contracts included accelerated stock option vesting that would make them very expensive to let go.
Either those clauses don’t apply any more for some reason, or Musk intends not to honor them, which would be another reason to think that bankruptcy might be looming.
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I think an enraged honey badger would be a fitting tribute to his South African background.
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Nor would Scott Adams, these days.
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That’s… charitable. Twitter is definitely running an accelerated playbook, but leveraged buyouts are frequently followed by bankruptcy after the buyers succeed in tanking long term viability for short term cost cutting, selling off valuable assets and real estate, and paying themselves nice performance bonuses.
From a private equity perspective, the “problem” with what Musk is doing is that A) he paid way too much to begin with, driving the price up prior to the buyout rather than down, and B) he tahnked revenue before cutting costs, not after. Otherwise he is following a pretty standard private equity game plan.
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