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Elon & Twitter
- Thread starter Buckminster
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AlanSubie4Life
Efficiency Obsessed Member
Parag a great loss, super genius. I guess he gets his $60 million tomorrow.
It's not bad walking around money.
They didn’t leave the company - they were fired
Yes, Elon overpaid for Twitter and should have waited for the market to tank and could have gotten Twitter for much cheaper.
But would it have been as easy had he waited? Banks have definitely tightened their purse strings since. He may have had a harder time even raising half the amount for this along with getting outside investors.
Sure he should have done due diligence and got it for less up front. But could he though? Remember, Twitter didn’t want to sell in the first place. Had he claimed the due diligence and said “if I find something, I won’t buy Twitter”, they probably would have said “fine by us”.
Of course the bot count is higher than 5%. We all have known that for years. I think Elon was planning on doing this court process to get it for less. But it didn’t work out . Mainly because of the judge. (Which shows how a judge can determine the outcome more than the law.)
Is Elon perfect? Far from it. He has made many mistakes over the years and he’s admitted to several like using a Lotus for the original roadster or trying to automate too much for model 3.
But for those focusing on the current “Elon screwed up, he overpaid”, etc. Reminds me of the “it’s just a muddy field” Lopez. They focus on the current and cannot see the future. This could turn into something really good. Time will tell. I have certainly learned by now not to just piss on Elon’s parade before it’s had a chance to take off. Remember all the haters about SpaceX, (never land a rocket) or Tesla (all this scrap). Well now they are going gangbusters. Doesn’t happen overnight but it often will. Elon’s track record is pretty impressive no matter how you slice it.
But would it have been as easy had he waited? Banks have definitely tightened their purse strings since. He may have had a harder time even raising half the amount for this along with getting outside investors.
Sure he should have done due diligence and got it for less up front. But could he though? Remember, Twitter didn’t want to sell in the first place. Had he claimed the due diligence and said “if I find something, I won’t buy Twitter”, they probably would have said “fine by us”.
Of course the bot count is higher than 5%. We all have known that for years. I think Elon was planning on doing this court process to get it for less. But it didn’t work out . Mainly because of the judge. (Which shows how a judge can determine the outcome more than the law.)
Is Elon perfect? Far from it. He has made many mistakes over the years and he’s admitted to several like using a Lotus for the original roadster or trying to automate too much for model 3.
But for those focusing on the current “Elon screwed up, he overpaid”, etc. Reminds me of the “it’s just a muddy field” Lopez. They focus on the current and cannot see the future. This could turn into something really good. Time will tell. I have certainly learned by now not to just piss on Elon’s parade before it’s had a chance to take off. Remember all the haters about SpaceX, (never land a rocket) or Tesla (all this scrap). Well now they are going gangbusters. Doesn’t happen overnight but it often will. Elon’s track record is pretty impressive no matter how you slice it.
I'm really glad nobody ever said it wasn't. Certainly not in the contract of this deal.
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Worth a note - I went back and scanned through posts starting about 50 pages ago in this thread. Considered multi-quoting some choice comments, but that's too easy a way for me to get out of this moderating job.
Twitter did based on their SEC filings. And Elon went “along with” their SEC filings probably to prove them wrong later.I'm really glad nobody ever said it wasn't. Certainly not in the contract of this deal.
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Worth a note - I went back and scanned through posts starting about 50 pages ago in this thread. Considered multi-quoting some choice comments, but that's too easy a way for me to get out of this moderating job.
/cloudfront-us-east-2.images.arcpublishing.com/reuters/6JSHLFG4JZML7ABR32OADWRCKU.jpg)
Twitter estimates spam, fake accounts comprise less than 5% of users -filing
Twitter Incestimated in a filing on Monday that false or spam accounts represented fewer than 5% of its monetizable daily active users during the first quarter.
www.reuters.com
I don’t know what you mean by your “choice comments”. But whatever. Beating a dead horse here.
Look back in this thread at the exhaustive discussion about mDAU - the platform could have 95% bots, and the mDAU number under 5% would still hold. That number isn't about how many bots are on the platform, it's about how many "real users" in their estimate might STILL be bots, after they've eliminated bots from the count.Twitter did based on their SEC filings. And Elon went “along with” their SEC filings probably to prove them wrong later.
Twitter estimates spam, fake accounts comprise less than 5% of users -filing
Twitter Incestimated in a filing on Monday that false or spam accounts represented fewer than 5% of its monetizable daily active users during the first quarter.
Key words “COULD” and “MIGHT”.
I wonder if Elon will ever release a count. Doubtful but would be interesting.
One thing I’ve noticed with my Twitter account is about 90% of followers for me are fake accounts with between 50-90 tweets and A pretty Chinese woman that I then block to remove. They never tweeted at me or replied to my tweets. They just show up as a follow out of nowhere.
Nobody has ever disagreed that there are a ton of bots and fake accounts on Twitter. Including Twitter, who has repeatedly stated the way they calculate the mDAU being under 5%. That 5% number is basically a "miss rate" for their algorithm that guesses real users. They tried their best, but there still might be 5% in this particular number.
The idea that there are less than 5% bots on the platform is laughable.
Knightshade
Well-Known Member
Except of the roughly 46 billion needed to close the deal- only 13 billion was loans from banks.
Elon came up with the other 33 billion from his own personal money and money from friends who wanted to be part of it (and mostly his own money)
So yes he could have gotten it much cheaper if he'd waited.
I'm not even sure what you're trying to say here.
Yes, he absolutely could have done due diligence. That's how nearly every significant merger works- he just chose to skip that part.
You can even include specific clauses in the merger giving you the right to do additional specific DD before closing, which Elon also failed to do...
No, mainly because Twitter never claimed the bot count wasn't higher than 5%. Even in their SEC filings.
If you think otherwise then as suggested scroll back to the 973 previous times this was explained.
Also- the judge didn't really "determine" anything- they didn't even get to trial.
Elons case was just hilariously awful, legally speaking, and he knew it, so he threw in the towel after wasting many millions on legal fees for literally no gain (and arguable some loss since he spent those months telling everyone how twitter actually sucks and now he owns it).
Allow me to quote... *checks notes*... you....
I'd like to see Elon shut down the bot API (temporarily?) and really see what that does to the user count
_Redshift_
Member
Who the eff cares. They will be the ones sleeping well tonight.
ZenRockGarden
Active Member
...and now we get to watch Elon demonstrate that "free speech extremism" does the exact opposite of his fantasy of making Twitter into a delightful respectful public square
AlanSubie4Life
Efficiency Obsessed Member
_Redshift_
Member
He is already backtracking. “Don’t think you can say whatever you want on my Twitter “....and now we get to watch Elon demonstrate that "free speech extremism" does the exact opposite of his fantasy of making Twitter into a delightful respectful public square
Some free speech absolutist.
EDIT: May be here should call himself ‘free speech BS Artist’
ElectricIAC
Good-Natured Rascal
If it means the crazies who spent 3 months+ attacking a courthouse in PDX don’t get to organize on Twitter anymore then that’s fine. Go use signal.He is already backtracking. “Don’t think you can say whatever you want on my Twitter “.
Some free speech absolutist.
EDIT: May be here should call himself ‘free speech BS Artist’
ZenRockGarden
Active Member
He is already backtracking. “Don’t think you can say whatever you want on my Twitter “.
Some free speech absolutist.
EDIT: May be here should call himself ‘free speech BS Artist’
I can't understand why anyone who's smart and who's even glanced at 4chan would think that any kind of expansive-free-speech policy is gonna turn out good.
Town squares work because there are all kinds of rules of decorum and they have very active professional police to drag off the raving lunatics and people throwing their feecees
ElectricIAC
Good-Natured Rascal
The problem is when they start selectively enforcing the rules by ideological lines.
No más, Tomás!
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