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Elon & Twitter
- Thread starter Buckminster
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2daMoon
Mostly Harmless
If you want to be literal about it, he maneuvered Twitter into taking him to court. This was a legal tactic, not a capitulation. Regarding contract law, there are tactics that are routinely employed which appear to a casual observer to mean one thing when it actually has another purpose.
Sorry that you are unable to grasp how this might be a legitimate alternative perspective to the one you hold, which has been demonstrated suspect at the very least by the Twitter purchase being finalized.
I've pointed this out in response to your repeating this simple idea over and again. If Elon honestly thought he had made a mistake and wanted out he could have continued the fight*. He did not press the fight to accomplish that. Perhaps this could serve to demonstrate how this purchase was his intent all along.
Edit: *changed text here thanks to points offered by @ohmman
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You've been corrected on that numerous times. That was not an option.
2daMoon
Mostly Harmless
I'm not convinced that the eventuality could not have been orchestrated by a competent legal team.
Particularly with the mounting evidence showing the Twitter board's malfeasance regarding bots, the whistle-blower's deal not being revealed to Elon, and the possibility of levering key investors to rescind their support in a way that met the letter of the contract.
If he wanted out, this soap opera would still be ongoing and a court date for November would be set.
ElectricIAC
Good-Natured Rascal
I think you're vulnerable to the same challenges you accuse @JRP3 of, above. I have zero stake in this, and it has played out pretty much as I've suspected. Elon tried to muddy the waters on bots (and convinced some, like yourself, that there was malfeasance when there wasn't). He did what he could to get out of it, and admitted publicly that he was going to end up "overpaying" for Twitter. He just wanted to not overpay, but his offer was poorly timed and the market backed off significantly while the deal progressed. There wasn't a legal way out of it, despite his efforts, and so he's closing. It's pretty straightforward.
JRP3
Hyperactive Member
Indeed. Deny the obvious reality to perpetuate the fantasy of an infallible Elon out maneuvering everyone who just can't see his genius. Cultist behavior.
bkp_duke
Well-Known Member
Pretty sure the modified filing with the SEC removed the bride loans and the TSLA-backed margin loans.
Bezos bought the post to preserve a key piece of the machinery that underpins not just democracy but basic civic life in America.
He doesn’t try to influence its editorial direction except at a distant remove by hiring sharp journalists for the top jobs.
That’s a substantial difference.
Not a Bezos fan but this is one thing he’s doing right.
The bridge wasn't canceled, but is part of the $13B financing.
Bridge: https://www.sec.gov/Archives/edgar/data/1494730/000110465922049844/tm2213189d8_ex99-h.htm
Margin expiration:
https://www.sec.gov/Archives/edgar/data/1494730/000110465922064655/tm2216931d1_sc13da.htm
_Redshift_
Member
Center? Chumming up to an anti-Semite crazy is now ‘center’?
bkp_duke
Well-Known Member
I'll take the bet. 1 TSLA share that he's not selling today?
As @Artful Dodger pointed out, volume is too low for him to be selling today.
2daMoon
Mostly Harmless
So, you are saying he didn't actually buy Twitter after all?
Otherwise, I don't see how my agreeing on how I may have demonstrated some of the behavior I claimed of you changes in any way the fact that you cannot entertain the same about yourself. Rather, you resort to ad hominem statements in some effort to preserve whatever it is you are defending. Seems more of an ego-based argument from where I sit.
Facts:
Elon made an offer for Twitter @ $54.20/share
Elon purchased Twitter for $54.20/share
Elon will apply his particular skill toward shaping Twitter into a better company (and more) and has offered future guidance. Just like he has so successfully done with other of his companies.
Are you continuing to argue against any of this?
I never said he was selling, I was saying the bridge loans could be a reason it was not too late to sell.
You're correct mostly, in my opinion. Today the US is the only major country left without ubiquitous chip/pin , contactless mass transit, multi-factor and other velocity-based, transaction-type, merchant-type and other security processes for consumer payments. Nearly the whole world uses IBAN for all payments, most in the US don't know what IBAN is. For a real horror story just compare US settlement to other countries. It's hard to fathom that the US can be so far behind. (For US-centric ones: EU and even Brazil retail payments can be and generally are, instant. Instant, not fast, in real-time. Many global transactions also can be instant, bizarrely some US transactions are too, mostly EU/US$ with US clearing bank direct party).
Delving into detail would go far off-topic. (if anybody wants deep detail I have the sources. I worked on the EU implementation of IBAN to facilitate Euro, as well as chip/pin, that in UK.)
The difference in Elon's vision and what already exists is more consequential for retail transactions in the US for sure, but the rest of it deals with topics related to commercial and investment banking where innovations have been slower than have the consumer ones and replete with gigantic failures, often caused by misapplication of statistical models (that does go off-topic into Central Banking and Institutional process controls). Elon is very well informed about all these.
Most of those things will probably never be the topics that Elon fans and foes will understand or care about. Most of them will only be visible indirectly, and will be improved through use of AI in ways that Tesla and SpaceX have been doing for years. Elon's companies have ready access to the very best AI developers. Does any bank have such resources? Even if they did would any banker anywhere understand what and how to use such resources.
FWIW, CharIN/CCS protocols were from inception designed to work easily within EU payments systems. That aspect has been largely ignored. Tesla EU Superchargers have been capable of easy integration since becoming CCS compatible.
bkp_duke
Well-Known Member
We'll, we know where I stand on this. I've repeatedly said that if he picked his share lots right when he sold the last 2 times, he has more than enough for the acquisition, with money left over (and a tax loss to boot!).
JRP3
Hyperactive Member
Not in the least, and you know it. What I and others keep pointing out and you refuse to see is that he tried to get out of the deal by every means possible and failed to do so. He was forced to buy the company after changing his mind. Those are the simple basic facts. He will now try to make the best of what he acknowledged was a bad deal but that doesn't change the truth of the events.
Daniel in SD
(supervised)
Elon decides to terminate deal, Twitter sues.
What did he gain by doing the middle step?
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