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Elon & Twitter

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Twitter denied access to Elon’s SpaceX/Tesla emails! Conspiracy?
Word on the street is that this is actually a conspiracy against Elon. If the Chancellor had allowed the emails Musk would like be allowed an interlocutory appeal which would delay the trial. The longer the trial is delayed the more likely the ever elusive MAU MAE will materialize.
 
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The only clearly MAU is Elon.
Twitter seems to view him as such. They are presenting a fairly strong case that he deleted relevant text messages. I suppose if the text messages were as bad as can be imagined it might not hurt him except that it will also piss off the Chancellor. It's too bad that we won't get to see his emails to his lawyers, I'm really curious what kind of legal advice he's getting.
 
TIL the Court of Chancery is a court of equity, not a court of law. And apparently that is literally what a court of chancery is.
I think Matt Levine speculated that the court could rule against Twitter not because they are wrong on the legal question but because forcing Elon to buy Twitter against his will would be bad for society and Twitter’s employees.
 
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I don't know what to think about this. TikTok is pretty cool and I understand why people like it as it is fun. But they seem to be disparaged by some political people yet Twitter seems to allow data sharing with questionable people.
Which one is safer? Which one has more bots? etc.



 
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The frequent sarcasm and undecipherable tongue-in-cheek commentary has degraded this thread unfortunately. IMO looks like the judge will likely side with Twitter. Wonder if Elon reads the tea leaves the same way and will settle in advance?
Elon is nothing if not entertaining (and I'm pretty sure it's his intent to generate maximum publicity at all times).
I think now that the shareholders have voted it will require another shareholder vote to settle.
Has there been a discussion about the irony of the reporting that Elon was backing off on acquiring Twitter at least partially due to bots being under reported when one of the main objectives of acquiring Twitter was to decrease the number of bots?
Yes. I found this sequence amusing.

I think the bot percentage thing is kind of over now though. It's more about how the Twitter board said mDAU was a good metric but internally they were looking at other metrics.
 
One data point. I live (mostly) in the state where C court resides. Have several lawyer friends that know the court well. to a person they think this gets 'settled'.

When initially filed the consensus was 'EM is screwed'. With revelations along the way they feel EM in stronger position. Essentially, the facts that come out will really open up twitter to SEC scrutiny. The trial doing lots of the work for SEC vs Twitter. Does twitter really want to go that route?

The further this goes (appeals?) the more info nastier it gets. EM has little to lose about pushing it hard,espicially with appeals.

Again, one data point.
 
One data point. I live (mostly) in the state where C court resides. Have several lawyer friends that know the court well. to a person they think this gets 'settled'.

When initially filed the consensus was 'EM is screwed'. With revelations along the way they feel EM in stronger position. Essentially, the facts that come out will really open up twitter to SEC scrutiny. The trial doing lots of the work for SEC vs Twitter. Does twitter really want to go that route?

The further this goes (appeals?) the more info nastier it gets. EM has little to lose about pushing it hard,espicially with appeals.

Again, one data point.
My understanding is that the only appeal is to the Delaware Supreme Court and they will act very quickly.
What do the they think the SEC violation is?
 
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My understanding is that the only appeal is to the Delaware Supreme Court and they will act very quickly.
What do the they think the SEC violation is?

Correct. C court appeals go to DE Supreme Court where reversals , while not unheard of, are rare. Twitter/SEC issues do stem from misleading investors (and the SEC) about number of bots, I admit to not having a detailed discussion about all issues Twitter/SEC with my lawyer friends but they were clear, in general, about the more revelations about Twitter that seem to crop up from this suit the more twitter opens itself up to SEC 'issues'. They questioned whether twitter wants to do that...
 
One data point. I live (mostly) in the state where C court resides. Have several lawyer friends that know the court well. to a person they think this gets 'settled'.

When initially filed the consensus was 'EM is screwed'. With revelations along the way they feel EM in stronger position. Essentially, the facts that come out will really open up twitter to SEC scrutiny. The trial doing lots of the work for SEC vs Twitter. Does twitter really want to go that route?

The further this goes (appeals?) the more info nastier it gets. EM has little to lose about pushing it hard,espicially with appeals.

Again, one data point.

Interesting. Thank you for sharing that. I could see how this could create a perverse scenario....Elon digs up a lot of dirt on Twitter in an effort to cancel the deal. That dirt paints the Twitter corp in a terrible light and opens itself to SEC and shareholder scrutiny, however, doesn't reach a level that allows for the cancellation of the deal. Judge could rule in favor of Twitter and specific performance. Elon could potentially own Twitter and be left owning all the baggage of Twitter that he had just exposed. It would give Twitter even more incentive to go all in on the deal and not settle, because they would want to unload their problems. An even worse outcome for Elon in that sense. I think the best possible scenario for Elon is if the financing fell through and he could walk away with the $1B fee.
 
Interesting. Thank you for sharing that. I could see how this could create a perverse scenario....Elon digs up a lot of dirt on Twitter in an effort to cancel the deal. That dirt paints the Twitter corp in a terrible light and opens itself to SEC and shareholder scrutiny, however, doesn't reach a level that allows for the cancellation of the deal. Judge could rule in favor of Twitter and specific performance. Elon could potentially own Twitter and be left owning all the baggage of Twitter that he had just exposed. It would give Twitter even more incentive to go all in on the deal and not settle, because they would want to unload their problems. An even worse outcome for Elon in that sense. I think the best possible scenario for Elon is if the financing fell through and he could walk away with the $1B fee.
What would that scenario look like? Fines? Meh.

If there's dirt and scandal on a wide scale, Elon will simply go in with a slash and burn strategy to start fresh. He likely will regardless.
 
Interesting. Thank you for sharing that. I could see how this could create a perverse scenario....Elon digs up a lot of dirt on Twitter in an effort to cancel the deal. That dirt paints the Twitter corp in a terrible light and opens itself to SEC and shareholder scrutiny, however, doesn't reach a level that allows for the cancellation of the deal. Judge could rule in favor of Twitter and specific performance. Elon could potentially own Twitter and be left owning all the baggage of Twitter that he had just exposed. It would give Twitter even more incentive to go all in on the deal and not settle, because they would want to unload their problems. An even worse outcome for Elon in that sense. I think the best possible scenario for Elon is if the financing fell through and he could walk away with the $1B fee.


IIRC the financing falling through, esp. if Elon is blamable for it, is not a reason to get out of the deal and he'd then be personally on the hook for whatever the banks didn't give him (and not like he couldn't afford it though it'd potentially prompt more TSLA selling)
 
Thing is.. I suspect that it's Not Just Twitter that's playing silly buggers with the advertising industry.

As far as I know, nearly the entire internet economy, with few exceptions, is based upon the idea that the number of viewers of advertisements reported by the likes of Google, Meta, and so on has some basis in reality. In the end, some provider of goods and/or services is paying Real Money to shove their advertisements in the face of Real People who will, presumably, be swayed and pay Real Money for those goods and/or services.

The problem is that the likes of Google, Meta, Twitter, and all have every reason to exaggerate the number of live bodies seeing those ads. The more live bodies that are out there, the more they can charge to carry those ads. Supposedly, audits by independent agencies can verify those numbers.. but there seems to be real questions as to how real those numbers are, at least with Twitter, anyway.

And this isn't a new problem by any means. Nielsen ratings, back in the day, were supposed to indicate how many viewers were watching television sets. The advent of VCRs, mute buttons, and fast channel surfing made those ratings very problematical; over the decades, I think I've seen multiple articles about how unreliable the Nielsen ratings had become.

It's gotten so bad.. that many TV set manufacturers are attempting to view actual people to see if they're there and to determine what they're watching, then selling that data to the advertising industry. Invasion of privacy, indeed: Do they have a special category for when people are screwing on the couch? Or not doing it in the proper missionary style, for sale to religious bigots everywhere?

It all feels rather like a house of cards, liable to fall over at any moment.
 
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