Elon & Twitter

[AlanSubie4Life]

On the whole the judge seems quite anti-Musk, would be very surprising if Musk ends winning the case.

I don’t get the sense the judge is anti-Musk. Does seem to be pretty no-nonsense. It’s quite possible she will deny expanded discovery for Twitter in some of these emails as well, or at least keep it very limited.

Musk has a weak case, but I think he’s very fortunate to have a judge who will decide based on the merits of the case. She just seems to be following the law and precedent, and I think after we get through discovery hell we can expect the same at trial.

It’s just too predictable.

 

[Daniel in SD]

As a TWTR shareholder (through index funds) I would be fine with Elon paying me the $54.20 a share he promised me.
I'd also be ok with him paying $22 billion to get out of the deal but as someone who, like Elon, favors the most entertaining outcome I hope that does not happen.

 

[EVNow]

I don’t get the sense the judge is anti-Musk. Does seem to be pretty no-nonsense. It’s quite possible she will deny expanded discovery for Twitter in some of these emails as well, or at least keep it very limited.

I don't know whether the judge is particularly anti-Musk - but it looks like Twitter court-shopped to pick Delaware (or was that the agreement ) ? I think in general courts are anti - anyone who seems to be an outsider. Elon is the richest person - but also the loud-mouth outsider. The "system" will always be anti-Musk.

 

[AlanSubie4Life]

but it looks like Twitter court-shopped to pick Delaware (or was that the agreement ) ?

(Twitter is incorporated in Delaware, as most major corporations are.)

I think the delay on these other two decisions (won’t be long) probably are not a good sign for Musk. May be taking time to write it up.

I don’t know what “court sanctions” would even mean, though…what would that entail? Sounds like just monetary penalty?

 

[EVNow]

As a TWTR shareholder (through index funds) I would be fine with Elon paying me the $54.20 a share he promised me.
I'd also be ok with him paying $22 billion to get out of the deal but as someone who, like Elon, favors the most entertaining outcome I hope that does not happen.

We all have our favorite outcomes - and as I've written before - that sub-consciously compels us to make arguments that support that outcome.

Personally (not as a Tesla investor, but as a software engineer) my preferred outcome would be to quash this deal with pre-stipulated fine for Elon. It is not fair for the employees when someone unwilling is forced to buy the company. He will probably end up firing half the employees.

 

[AlanSubie4Life]

We all have our favorite outcomes - and as I've written before - that sub-consciously compels us to make arguments that support that outcome.

Personally (not as a Tesla investor, but as a software engineer) my preferred outcome would be to quash this deal with pre-stipulated fine for Elon. It is not fair for the employees when someone unwilling is forced to buy the company. He will probably end up firing half the employees.

Yes, I definitely did not want Elon to buy Twitter, it seemed terrible. It still seems terrible, but beginning to think it won’t be. Might be rationalizing.

But I naturally assume if I don’t want something to happen, the opposite will happen, and I tend to find the rationale for that. Is that what you’re saying?

I too would prefer a $20B payment to Twitter by Elon. It is still possible! I think the chances have gone up actually. Still pretty slim though. Legal experts definitely think it could happen (seems like around 1% chance).

 

[ohmman]

We all have our favorite outcomes

Some are more motivated by them than others. Speaking for myself, I honestly don't care very much what the outcome is. I have no real stake in any of it. Like @Daniel in SD, I have investments in index funds that include TSLA and TWTR but they're just part of a portfolio so it's not some real financial motivation. I don't care for TWTR, not because I think they're some bogus lying company, but because I think that platform emphasizes the worst in a lot of people. I don't care for Elon trying to get out of a deal and purposefully muddying the waters about mDAU by talking about bots at large. But I mean, whatever. I think no matter what the outcome is, I'll say "hmm, that's interesting," and that's about it - my life will not change at all.

 

[Bouba]

The company officers want to force someone to purchase the company for the benefit of the shareholders but not the company....it’s all a little odd

 

[TheTalkingMule]

While we're at it....someone in PA who's a big Tesla fan already has the Twitter handle @TheTalkingMule.

Is that someone here? How's $50 sound for the handle?

 

[AlanSubie4Life]

The company officers want to force someone to purchase the company for the benefit of the shareholders but not the company....it’s all a little odd

Goes all the way back to Revlon.

 

[Daniel in SD]

The company officers want to force someone to purchase the company for the benefit of the shareholders but not the company....it’s all a little odd

That’s the way it works in the US. The board of directors is legally required to act in the best interest of the shareholders.

My understanding is that in other countries the employee union has seats on the board.

 

[AlanSubie4Life]

It is so ordered.

Twitter must produce 2 more for a total of 8 (they wanted to produce just 6) Slack custodians.

Elon wanted 42. Then he wanted 8. Then he wanted 42 again. Now he gets 8.

https://courts.delaware.gov/Opinions/Download.aspx?id=337530

And Elon will have to produce some texts…from phone company records to confirm that representations made during discovery have been accurate. (The issue here is it looks like Elon may have deleted texts - Elon claims he communicated in person.)

https://courts.delaware.gov/Opinions/Download.aspx?id=337540

She seems to have saved the best for last!

A bunch of Twitter’s requests for various relief were NOT granted, due to it being overly broad (not getting ALL messages from Musk and Birchall, not getting immediate deposition of Musk, and not getting a separate custodial deposition (whatever that means)).

However, it sounds like third-party discovery deadlines (?) are waived for Twitter due to the burden they have.

 

[Daniel in SD]

She seems to be saving the best for last!

Note to self, never use work email to communicate with my attorney. Though you would think if you had a good attorney they would tell you that...

 

[AlanSubie4Life]

Note to self, never use work email to communicate with my attorney. Though you would think if you had a good attorney they would tell you that...

Yes, looking forward to that one.

 

[Daniel in SD]

Yes, looking forward to that one.

Seems like the Chancellor is really mulling that one over. On the one hand Musk's argument that there is some unwritten exception to Tesla's and SpaceX's email policy just for himself is ridiculous. On the other hand it does seem like you should err on the side of maintaining attorney client privilege and that might be a basis for appeal?

https://twitter.com/x/status/1567631395907932163

 

[ZeApelido]

Lolz

https://twitter.com/x/status/1567696982160084995

 

[AlanSubie4Life]

Lolz

https://twitter.com/x/status/1567696982160084995

Yeah…duh. Not sure why this is even news! It’s so weird that this is somehow a shock to everyone. And obviously not germane to the issues here. It just isn’t related.

No one has asked Twitter for their estimate of how many of their users are real! Probably they wouldn’t say, but still, nothing has been claimed.

 

[Bouba]

Note to self, never use work email to communicate with my attorney. Though you would think if you had a good attorney they would tell you that...

I’m just amazed that Elon hasn’t been communicating with his attorney via Twitter....

 

[Daniel in SD]

Lolz

https://twitter.com/x/status/1567696982160084995

https://twitter.com/x/status/1567703605460836352

I think Elon just realized that you can do due diligence before signing a merger agreement. Haha.

 

[Bouba]

I think the power of Twitter is in the way it gets requoted so often...by the traditional media and by other web based forms (like Teslamotorsclub)...that is the appeal to Elon...the wide reach. But as for income generation, that requires bums on seats...not bots...and this is its increasingly obvious failing. Again though, under Elon, it will probably metamorphose into something different but shockingly profitable