Or Tesla could be down because the entire market is down because huge inflation, crazy gas prices, uncertainty in Russia ETC ETC ETC. Of course a certain half wants to blame it on his bid to buy Twitter. That is the "spin" of course you got from CNN I am sure.
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Elon & Twitter
- Thread starter Buckminster
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bkp_duke
Well-Known Member
Objective data:
www.teslarati.com
The labor pool loves Elon's buy of Twitter. With applications like this, he's going to have no problems replacing the "protest quits" that mainstream media promoted as FUD. He will also have his pick of the litter, so the overall talent at Twitter should improve.
Twitter job interest rises over 250% after announcement of Elon Musk’s $44 billion buyout deal
Elon Musk’s upcoming and likely acquisition of Twitter appears to be making the social media company more attractive to job seekers. Since Twitter’s Board accepted Elon Musk’s bid to take over the company, interest in the social media platform’s jobs rose by over 250%. The observation was...
www.teslarati.com
The labor pool loves Elon's buy of Twitter. With applications like this, he's going to have no problems replacing the "protest quits" that mainstream media promoted as FUD. He will also have his pick of the litter, so the overall talent at Twitter should improve.
Objective data:
Twitter job interest rises over 250% after announcement of Elon Musk’s $44 billion buyout deal
Elon Musk’s upcoming and likely acquisition of Twitter appears to be making the social media company more attractive to job seekers. Since Twitter’s Board accepted Elon Musk’s bid to take over the company, interest in the social media platform’s jobs rose by over 250%. The observation was...
The labor pool loves Elon's buy of Twitter. With applications like this, he's going to have no problems replacing the "protest quits" that mainstream media promoted as FUD. He will also have his pick of the litter, so the overall talent at Twitter should improve.
Labor should have never been a concern. If he really wants to change the culture, open an office in Austin and make all the new adn replacement hires there. Let's the protesters quit with no severance. Just build up Austin adn let SF languish (or WFH and eventually close SF or turn it into low income housing).
But the question is, how much of Elon's time will get sucked into this Twitter vortex? Time he could be spending on Tesla (and SpaceX)?
bkp_duke
Well-Known Member
Tesla and SpaceX both have clear, defined roadmaps. They need implementation now, and they both have great staff for that. Elon is most beneficial for Twitter for that - setting the path and over-arching goals. It will be important for him to find an excellent COO/second in command to implement his vision, but the point of the CEO is not to micromanage daily operations, not unless it can be helped.
Again, I'm not worried about Twitter sucking down his time. It's not exactly a difficult business model compared to Tesla and SpaceX. Musk has already laid out some very good low-hanging fruit at Twitter that can be harvested to immediately improve the product.
Regarding new hires - the ton of applications is a great things from an employer perspective. It means he can pull top talent without having to pay them top dollar. That's a diamond in the rough right there with the current labor market. I've got positions open for a few programmers, and all the applicants want more than I make as a C-level exec. LoL.
While I don't necessarily disagree, you seem to completely dismiss everything stated in the article as FUD - I still think that many of the concerns are real. And dismissing everything as FUD makes it seem that you have your blinders on.
Should we be worried that Elon is putting up a large number of TSLA shares as collateral - and if those shares decline in value significantly, that could cause margin calls? Absolutely - There is a non-zero risk of the stock market incurring a dramatic sell-off (just look at the roller coaster the market has been on the last 6 months). The market dropped precipitously when COVID hit (TSLA was cut in half) - could another event lead to similar sell-off? Absolutely.
I think most here would agree that Tesla has a solid long-term growth plan, but that doesn't mean that there aren't challenges ahead of that aren't under Tesla's control.
Also, I think that most would agree (even Elon) that Tesla only got to where it is today because it pushes so hard. If Elon is distracted with Twitter (and I disagree with your take that it would not be an appreciable amount of his time), that means less time for Tesla. I guarantee you that if Elon pushes on a particular facet of the business, that the change will happen quicker. If he does not, it will not. It's that simple.
I don't think anyone would argue that the CEO should be micromanaging daily operations - obviously he should not be. But effecting significant culture change in a company as big as Twitter is not something you can moonlight, especially if you want it done quickly. And I would argue that there are enough challenges just at Tesla alone to keep him occupied full time - not to mention all the other off-shoots he's involved with.
bkp_duke
Well-Known Member
Then we will agree to disagree.
I don't have blinders on, I just see the arguments as specious, at best.
Same could be said about Boring Co, Neuralink, etc. Elon knows his limits.
I don't have blinders on, I just see the arguments as specious, at best.
Same could be said about Boring Co, Neuralink, etc. Elon knows his limits.
Exactly. This is called stating the facts but still lying. Lying by omissions and providing no context.
The macros are horrible, Musk sold a bunch, all of which put a downward pressure. So while the Twitter drama still has an impact on $TSLA it is a small fraction compared to other events. Even with no Twitter deal, Tesla will be low 900s now.
bkp_duke
Well-Known Member
If even low 900s. Musk sold about 1% of the market volume, at most, on the days he sold. The hedges just used the opportunity to push down the price on those days, which recovered (them probably covering short positions) as soon as he tweeted he was done.
Time will settle this argument (Twitter is a distraction for Musk is the argument), and I expect to be on the side of being correct. Not because of arrogance, simply because Musk has shown us that he can juggle many companies at once, and Twitter is not exactly a difficult business model.
mspohr
Well-Known Member
Musk's $44 billion Twitter buyout challenged in shareholder lawsuit
Elon Musk and Twitter were sued on Friday by a Florida pension fund seeking to stop Musk from quickly completing his planned $44 billion takeover of the social media company.
Elon Musk and Twitter (TWTR) were sued on Friday by a Florida pension fund seeking to stop Musk from quickly completing his planned $44 billion takeover of the social media company.
In a complaint filed in Delaware Chancery Court, the Orlando Police Pension Fund said that under Delaware law Musk cannot complete the takeover until at least 2025 unless holders of two-thirds of shares not "owned" by him approved.
The lawsuit said Musk became an "interested stockholder" after taking a more than 9% Twitter stake, requiring the delay.
bkp_duke
Well-Known Member
bkp_duke
Well-Known Member
Musk's $44 billion Twitter buyout challenged in shareholder lawsuit
Elon Musk and Twitter were sued on Friday by a Florida pension fund seeking to stop Musk from quickly completing his planned $44 billion takeover of the social media company.www.cnn.com
Elon Musk and Twitter (TWTR) were sued on Friday by a Florida pension fund seeking to stop Musk from quickly completing his planned $44 billion takeover of the social media company.
In a complaint filed in Delaware Chancery Court, the Orlando Police Pension Fund said that under Delaware law Musk cannot complete the takeover until at least 2025 unless holders of two-thirds of shares not "owned" by him approved.
The lawsuit said Musk became an "interested stockholder" after taking a more than 9% Twitter stake, requiring the delay.
Been reading significantly about this, and the only way this lawsuit makes sense from the plaintiff's position (i.e. the Orlando Police Pension Fund) is if they were significantly short TWTR. Otherwise, the buy out nets them 15-20 mil on their position.
Discussed this with close friend that is a corporate lawyer, and his suspicion is that this is not going to make it to trial, and there will be no settlement. They just wanted the publicity of the lawsuit, but know the grounds on which it is based is extremely flimsy.
Musk doesn't directly control more than 9% of TWTR, their argument is that his "friends" will vote how he tells them. Unfortunately the law is pretty clear on this, he would actually have to have been given PROXY voting power, not just convince them that his position is how they want to vote. That's a huge legal hurdle to get over, and the burden of proof is on them to prove it.
mspohr
Well-Known Member
Lots of controversy should keep Elon busy...
arstechnica.com
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www.reuters.com
/cloudfront-us-east-2.images.arcpublishing.com/reuters/XGXIJIXXYVIZTKP2J7EP76NY5Y.jpg)
www.reuters.com
www.bloomberg.com
www.foxbusiness.com
www.nbc12.com
Musk’s Twitter deal could face national security probe into foreign investors
Money from Saudi Arabia, Qatar, and Binance may give US reason to investigate.
arstechnica.com
Analysis: Musk's new Twitter funding could draw TikTok-like U.S. scrutiny
Elon Musk disclosed investors included a Saudi Arabian prince, Qatar's sovereign wealth fund and Binance.
www.reuters.com
Elon Musk's early Twitter stock buy under FTC scrutiny -The Information
Tesla Inc Chief Executive Elon Musk's initial 9% stake purchase in Twitter Inc is being probed by the Federal Trade Commission (FTC), The Information reported on Thursday.
www.reuters.com
Musk Faces FTC Antitrust Review on Twitter Alongside Stock Probe
The U.S. Federal Trade Commission is reviewing Elon Musk’s $44 billion Twitter Inc. takeover, a person familiar with the deal said, setting up a deadline in the next month for the agency to decide whether to conduct an in-depth review of the transaction.
www.bloomberg.com
Elon Musk invited to testify before UK Parliament on Twitter acquisition
Musk told AP he is "honored and thank the Parliament for their invitation, but it would be premature at this time to accept, given that there has not yet been a shareholder vote" to approve the $44 billion deal.
www.foxbusiness.com
Elon Musk accused of breaking law while buying Twitter stock
The lawsuit alleges the strategy hurt less wealthy investors who sold shares in the San Francisco company in the nearly two weeks before Musk acknowledged holding a major stake.
www.nbc12.com
Knightshade
Well-Known Member
Is that even something a pension fund can do?
....I'm trying to figure out what benefit spending $ on a lawsuit for publicity gains a pension fund?
It's not like they're trying to drum up investors or something....
None of this is to say their suit will be effective, but neither suggested reason for it makes any sense at first glance.[/QUOTE]
Absolutely - and I think many others have made similar arguments about those companies as well. That said, those companies are much smaller than any of Twitter, Tesla - he seems to spend very little time at either of those at the moment.
Detailed plans are not trivial to put together, not to mention implement.
Anyway, I disagree with your premise that Twitter will not be a time sink for Elon and will not negatively affect Tesla.
mspohr
Well-Known Member
Apparently this is a Delaware law.
Florida pension fund sues Elon Musk and Twitter to stop buyout
In a proposed class-action lawsuit filed in Delaware chancery court, the Orlando police pension fund said Delaware law forbade a quick merger because Musk had agreements with other big Twitter shareholders, including his financial adviser Morgan Stanley and Twitter founder Jack Dorsey, to support the buyout. Related article Elon Musk secures $7bn in outside funding for Twitter takeover Read more The fund said those agreements made Musk, who owns 9.2% of Twitter, the effective “owner” of more than 15% of the company’s shares. It said that required delaying the merger by three years unless two-thirds of shares not “owned” by him granted approval.
Florida pension fund sues Elon Musk and Twitter to stop buyout
In a proposed class-action lawsuit filed in Delaware chancery court, the Orlando police pension fund said Delaware law forbade a quick merger because Musk had agreements with other big Twitter shareholders, including his financial adviser Morgan Stanley and Twitter founder Jack Dorsey, to support the buyout. Related article Elon Musk secures $7bn in outside funding for Twitter takeover Read more The fund said those agreements made Musk, who owns 9.2% of Twitter, the effective “owner” of more than 15% of the company’s shares. It said that required delaying the merger by three years unless two-thirds of shares not “owned” by him granted approval.
JRP3
Hyperactive Member
“I don’t really have a business plan,” he said. “I had a business plan way back in the Zip2 days. But these things are always wrong, so I just didn’t bother with business plans after that.”
Elon Musk
JRP3
Hyperactive Member
My memory is that EM has never testified before Congress. Not so for Jack Dorsey.
Twitter seems to to be a potential litigation magnet IMO particularly with new and deeper pockets and open algorithm work product to dissect. Lots of testimony prep time may need to be accommodated.
It is great fun working under a subpoena where all work product including office trash must be retained. I have been there and it is not fun.
mspohr
Well-Known Member
Free speech is not absolute.
A U.S. judge on Friday dismissed former President Donald Trump's lawsuit against Twitter Inc that challenged his suspension from the platform. In a written ruling, U.S. District Judge James Donato in San Francisco rejected Trump's argument that Twitter violated his right to freedom of speech guaranteed by the First Amendment of the U.S. Constitution.
A U.S. judge on Friday dismissed former President Donald Trump's lawsuit against Twitter Inc that challenged his suspension from the platform. In a written ruling, U.S. District Judge James Donato in San Francisco rejected Trump's argument that Twitter violated his right to freedom of speech guaranteed by the First Amendment of the U.S. Constitution.
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