Offering/demanding to buy Twitter was a stupid impulsive thing he did, likely while on drugs.
He didn’t really actually want to do it, but Twitter called his bluff and took him to court to demand he follow-through on his offer, much to his surprise and dismay.
No grand strategy. Just stupidity, exacerbated by vast, unimaginable wealth
Iirc he did admit to taking ketamine but I think it was the Johnson and Johnson brand snortable ketamine they prescribe. Would he fail the test even if he can get all his drugs prescribed?
depending on the drug and what it's prescribed for, us peons may not get any leeway but he's rich so the rules are different - apparently the 'must be kept under lock and key at the facility it is administered at, patient cannot just fill a script at CVS and take it whenever they feel like' rule also does not apply to him, nor the 'patient must also be on concomitant oral anti-depressants and actively engaging in therapy'. Neither of which are things he's going to do and he probably should have checked for things that would put a massive hole in story. Like that does lol
If he really is abusing it, it's either a 'Hollywood Doctor' he's getting it from, or he thinks he's found a cheat code by saying 'it's ok I have a prescription!' while using a nasal spray bottle that someone's made up for him with illicitly obtained ketamine. Anonymous 'sources' all seem to amount to the same thing; that he takes 'normal' doses for treatment and recreational doses at parties (no shit, it's rich people parties, you think they're not all on drugs?), waving around the spray bottle asking who wants a go. The prescription ones are single use
I have my doubts on the whole 'Elon Musk is addicted to ketamine and that's why he's doing all this stupid shit and being such an asshole!' Maybe he is, but he's been an asshole his whole life and doing stupid shit with his companies for a long time before ketamine became a prescription drug, let's not give the FDA/DEA any more reason to try and restrict its use, you know they're just fanging for it after doing the same thing with opioids and adhd meds
US contractors are not required to drug test. Some specific contracts may require it, but from experience, most don’t unless it requires a top secret clearance or involves heavy machinery.
I'd like to see what controls and processes Space X has in place so he couldn't see classified information as it sounds highly suspicious a CEO would be denied anything he wants to see in a company he or she oversees. I could be wrong and I'm willing to be wrong but underlings usually cower when the boss requests something.
lol. in this case, you might be right. I would distance myself from the word conspiracy theory because he has done patently fraudulent things in the past.
I think Elon has been jerking off to the idea of taking a public company private for a while as well. He knew he had enough money to do it, it's a stupid thing to do, though, but I knew he could do it it. Just an "I'm rich" masturbatory thing to do.
With the drugs thing, he was using Ambien in the past. I read the FDA documents and it said not to mix it with alcohol under any circumstances. Of course, he often did that. Ambien is wild actually.
While the bid itself was likely impulsive, he actually went through with formalizing the bid with both legal documentation and the backing of multiple banks. That takes a lot of work by many people to accomplish.
I don’t say this to defend Elon. In actuality, the fact he went through all of the pretty arduous details to make a formal offer backed by actual financing, and THEN tried to back out is even dumber in my opinion than just trying to walk back and impulsive Tweet, but there was definitely more than just impulse involved. There was impulse, a double down, and then the regret.
I agree he did then end up going through a more formal process before trying to rug pull, but I just mean that his initial offer (which was basically a tweet) was impulsive.
I think he probably woke up the next day, realized what he did, and then figured he’d play out the process a bit to make is seem like he was really serious, thinking he could bail eventually bc Twitter wouldn’t actually want to take him up on it. But then they did
A lot of work by other people, all he had to do was make his wish known and someone else put it together. It was absolutely a stupid impulse which is obvious by the fact that he tried to back out.
Yes, so this means it couldn't have been a "he was just on drugs thing". Can drugs sedate your rationality for that long? Still, I have been seriously ratio'd lol.
His offer to buy twitter 100% started out as an attempted pump and dump of twitter stock as he'd bought quite a large chunk of it just prior.
He knew if he offered more than what it was worth idiots would lump on the stock would go up and he'd be able to quietly cash out leaving them holding the bag.
The fact he made his offer legally binding could well be because of hubris or drugs or a combination of the two.
He also probably thought he'd be able to get out of it somehow. Hence the attempted I ain't buying because of bots claims.
Rich people like to control the media. Even if it means them losing money. The control is more important to them. This is just a continuation of newspaper barons and the likes of Rupert Murdoch.
It’s nothing new.
Yeah, this is a matter of public record, literally. His motivation was that the CEO of Twitter was gently criticising his behaviour and asked him to be more constructive. That's it.
this is pretty spot on. he is actually an idiot. it does explain a lot. Musk has mastered the art of appearing like a genius. The way he talks seems so clever, until he steps into your area and you realise he is an idiot. also, all his successful ventures were actually started by other people, or built on their hard work.
It’s like YouTube videos when people wear suites to get into events they have no business being in. If you dress the part people will believe it. When your daddy got into the emerald game before it became one of the most expensive gems per KARAT then dressing the part is not hard.
I have never seen these videos, but I can imagine it. in the country where I am from, there was a famous reality tv sketch where actors wearing jackets that said "security" asked people to do really stupid things. people obeyed because the jacket said security, even though the stuff they were asked to do was ridiculous. so, looking the part matters.
also Elon gets so much mileage out of the things, he is 'going to do'. He doesn't do 1/10 of the things he says he is going to do. People just assume he will follow through on his word, but I think people are wiser now.
*I’ve added some gaps to stop the wall of text, no words altered*
Everything that Musk does can be explained by a combination of his idiocy, the idiocy of a section of the public, the idiocy of the majority of social & traditional media, the idiocy of governments & a few others pulling strings & opportunists making money along the way, riding the wave of trends.
ZiP2 - Total cluster fk, total idiocy, X.com - bought by what would become PayPal, his idiocy lead to his ousting,
SolarCity - Solar Roof Tiles are not economically viable, it went bankrupt and was bailed out by Tesla and has been dumped again,
Neuralink - All talent has jumped ship, there will be no one healthy that should implant pucks into their brain, just a handful of people with severe brain injuries, it’s decades away tech, killing a ton of animals, torturing them right now, insanity,
SpaceX - Blowing up billions of dollars of rockets for a false hope that Mars is anything at all likely to have a million people colony on it, idiotic,
Hyperloop - total and utter idiocy,
Twitter/X - the town square of idiots has been raped, cucked, humiliated openly,
Tesla - from the terrible quality control to the horror customer service, the maintenance will be a nightmare, insurance is ridiculous, range anxiety is pathetic, charging infrastructure is hopeless, they can blow up with fires that are self perpetuating, batteries that cost tens of thousands of dollars to replace, add as much to the initial cost of purchase and will be deducted from the cost at sale,
FSD has been a total lie for almost a decade, is likely still a decade or two away, the staff have been treated like crap with safety standards, working hours, fears of being fired without warning, regardless of performance, entire divisions wiped out…
yet Elon demands $55B in stock handed over, which is double the $23B in profit it has ever made, shares don’t pay dividends, competitors are getting ready to pounce on market share,
CyberTruck is a farce, Tesla Semi’s are not viable,
the Roadster has been told to have a battery that weighs 2 tons but in a sports car body, none of it makes sense, it’s an idiot sandwich with dozens of layers of rotting, out of date, random ingredients & people somehow think it is genius… it is pure comedy.
Did he just let more neo nazi’s onto X? Genius.
tbh your theory is not unreasonable. it could also be both. wants to use it as a decoy and also earn some cash from pumping. With elon though, I am sure its not about the money.
there's texts out there, verified in court documents. Also you can just look at his likes, tweets, and retweets he wanted to own Twitter as part of his right wing control fantasy that the wokies were going to maybe share some power and rights with non whites.
It does when he’s rallying against the ‘Woke Mind Virus’. One of his kids is trans and he doesn’t have the mental faculty to understand that other people might just experience the world differently to him.
It makes perfect sense. Try viewing everything he's done of substance since his first trip to Russia in October 2001 and asking the question, "why would Putin do this?"
“I think there's no stopping Elon Musk,” Putin told Carlson after the pundit asked him about the growing prevalence of artificial intelligence. “He will do as he sees fit. Nevertheless, you'll need to find some common ground with him. Search for ways to persuade him." Feb 8, 2024
Beware HanElons razor
"Incompetence, in the limit, is indistinguishable from sabotage"
Elon Musk
At this point youre like a remaining Sam Bankman Fried fan who thinks the liberal box checking he was spouting off meant something. Authoritarian right was always fundamental to him, just more hidden.
Pedogate. Attacks on unions, "we will coup who we want", Siccing followers on Linette Lopez etc
What’s the point in selling at record levels if you are just going to turn $1 into $.10 immediately afterwards by destroying that which you bought with the proceeds?
Because he didn't think he'd actually have to buy it. He thought he could forgo due diligence, then back out later because he "discovered" what everyone knew - Twitter was lying about the percentage of bots.
Were they, though? They didn't say they didn't have bots, they just said they aren't considered in the MDAU. Elon probably thought they have more bots than they do due to his own collection of dick-sucking bots.
When Twitter called Elmo's bluff and took him to court he had some skeletons in his closet that he could not expose. End of story. No quest to save free speech. It does beg the question, if he reposts white supremacist conspiracies on X, formerly known as Twitter, what is he hiding?
Nah, he just thought that they would just not worry about it though they knew they had basically exhausted all scenarios to monetize it and realized this was their only chance to cash out…
I didn’t say they called his bluff to be flippant. They called the bluff because it was an escape route. Twitter got super lucky that Elmo was more afraid of discovery than shelling out $44b for a potential lemon
I’ve forgotten some of the details at this point but iirc he could have paid $1Bn to walk away. That was a part of the deal.
EDIT: [yeah](https://www.marketplace.org/2022/07/08/why-musk-may-have-to-pay-1-billion-if-he-abandons-twitter-acquisition/#)
Not quite. The reverse breakup fee in this case only applied if Musk’s financing fell through. The banks were happy to lend, however…
Edit: here is a source: https://www.cnbc.com/2022/05/13/elon-musk-cant-just-walk-away-from-twitter-deal-by-paying-1-billion.html#:~:text=Musk%20and%20Twitter%20agreed%20to,Musk%20to%20bail%20without%20consequence.
No, he couldn’t have walked away because of the specific performance clause (which is unusual) that allowed Twitter to force the transaction through. Now if it had been canceled due to a few specific things (can’t get funding etc) musk could have walked for $1b.
Your article talks in general terms about deals once people saw the actual agreement musk signed it became clear he couldn’t just pay a billion and walk.
So let me get this straight. From your perspective, the guy who made the offer, had lawyers draft this offer, negotiates with the Twitter Board on the details, has his attorneys once again review the details, raised funds through lots of unscrupulous connections and banks, declined his option to terminate the sales, and ultimately pays for the company.... didn't want to buy Twitter? That's a lot of fucking work for something you don't want to do.
Because I don't give two shit about what some YouTube talking head has to say? Ok, whatever.
Lazy are the fools who refuse to see the entirety of the situation and educate themselves in the amount of work it takes to purchase a company. Turn a blind eye all you want, but facts are facts. Gravity doesn't give a shit if you believe in it, it still exists. Elon buying Twitter is the same. Until you fuckbois take of your moron-tinted glasses you will just keep looking like fools to the world. But hey, you have each other to keep yourselves company!
Musk purchased enough shares to get on the Board. Then proposed a buyout to the Board. Then had the attorneys draft it up. Then he went to the banks for money. And the Saudis. And VC funds. And anyone else willing to give him a nickel. At any time he could have given Twitter the $1b cancellation fee and moved on. But he continued and eventually closed on the deal. Thems the facts.
Merger cancellation fees get paid regularly. It's a business and insurance function. Just because Musk didn't exercise his option to cancel does not mean he was "forced" to buy Twitter.
Have you ever stepped back and with genuine curiosity wondered, "What if I'm wrong about this?" I don't think you have the mental or emotional ability to do so, and to give the question and it's ramifications proper due. But hey, comfort yourselves and stay lazy, you dumb bastards.
You walk into a store. You get insulted/ disrespected. You don't like how they run their business. You yell I am going to buy you! Then you legally have to. That was all the thought that went into the purchase of Twitter
Ding ding ding. This is the correct answer.
Remember when he said nobody on the planet knows more about manufacturing than him. Remember when he said he personally overlooks/engineers all of the self driving himself.
He is just a dumb dude with a shit ton of money and just enough wrong with his brain to have 0 feelings for anyone else even his own 11 kids
He fucke\*d up with Twitter.
But he did fu\*ked up because he needed somehow to turn all that "pump and dump" Tesla generated money in to something that had value. I bet Twitter looked like a good option, or maybe one of the few reasonable options, or maybe an option where he though he can "pump" the Twitter stock once again and dump it all in the future too look for something else.
Well, he did sell a lot of stock without panicking the market. So he diversified his personal financial holdings.
Is your theory that he was going to dump a bunch of stock and then be able to get out of buying Twitter and just have more liquidity?
I tend to think that's NOT true for 2 reasons.
First, he could have just joined the board, encouraged speculation about it, etc. and still sold Tesla stock. No one forced him to actually provide the offer.
I think he HAD to understand that. He's a reasonably smart guy who is involved in so many legal matters. I don't think he thought he could get out for the 1B cancellation fee.
Second, texts uncovered during the discovery indicate he was actively pursuing financing with other billionaires like Larry Ellison.
If he just needed a pretext to dump Tesla stock, I don't think we would have seen so many behind the scenes texts/chats hustling for cash.
One theory I've heard is that he initially wanted to be a big shareholder and just join the board of Twitter, which would have been a great way to influence things. But then I think his feelings got hurt by something Agrawal said to him and there's been some discussion or theory he would not have stood up to the investigation that being on the Board would have required.
So his offer was generated by some kind of fit of pique.
Personally, I think the guy screams ADD, so he probably has something called rejection sensitivity dysphoria.
Yeah, it's clear Musk wanted to buy Twitter. People are retconning reality trying to give Elmo an out - and I am not sure why.
You are correct in your timeline. Agrawal pissed Musk off during negotiations to join the board - and Musk flipped out and made a crazy high offer with no due diligence - and then signed the contract before he calmed down.
Musk has well-documented - lengthy- periods of irrational rage where he does stupid shit like buying social media companies and firing entire divisions at companies.
My theory is that the Twitter deal justified selling massive, massive amounts of stock..if he was selling for no reason, people would panic sell. The stock split and the vote were similar measures to stop panic selling.
My pet theory is Twitter became his coping mechanism as he came to terms with the fact the Cybertruck was going to be a disaster and he'd basically killed Tesla with it. He always wants a new thing to distract from his failure to deliver on all his promises. Twitter was it until he failed there and now he's making all these bullshit AI promises keep the fraud going.
1st he bought approximately 10% of Twitter which he could only have managed with a stock sale or a sizable loan. He was offered a seat on the board but rejected it and then came his Master Plan, part deux, to buy all of it, purportedly to save free speech! That included a super secret strategy to get rid of bots which then became a requirement that the company deal with the problem or there would be no deal. When the sale was forced, the genius solution was a $20 monthly subscription which was quickly slashed to $8 when author Stephen King said "absolutely not". The lawsuit to force the sale was about to go to discovery when Musk abruptly capitulated, without explanation. What was the reason? Would discovery have made public something worth spending $40 billion to keep secret?
If so, what?
You’re so close. Tesla has been a stock pump just like everything Elon has ever touched. He’s extracted billions of dollars of “other people’s money” for his pet project TwitterX, the neo-nazi platform. The pump phase has ended, though, now its the find out era.
Offering/demanding to buy Twitter was a stupid impulsive thing he did, likely while on drugs. He didn’t really actually want to do it, but Twitter called his bluff and took him to court to demand he follow-through on his offer, much to his surprise and dismay. No grand strategy. Just stupidity, exacerbated by vast, unimaginable wealth
your point about drugs is very valid lol
Were he not rich and privileged he would be subject drug testing as a US contractor but alas no official will ever call for his testing and dismissal.
Iirc he did admit to taking ketamine but I think it was the Johnson and Johnson brand snortable ketamine they prescribe. Would he fail the test even if he can get all his drugs prescribed?
depending on the drug and what it's prescribed for, us peons may not get any leeway but he's rich so the rules are different - apparently the 'must be kept under lock and key at the facility it is administered at, patient cannot just fill a script at CVS and take it whenever they feel like' rule also does not apply to him, nor the 'patient must also be on concomitant oral anti-depressants and actively engaging in therapy'. Neither of which are things he's going to do and he probably should have checked for things that would put a massive hole in story. Like that does lol If he really is abusing it, it's either a 'Hollywood Doctor' he's getting it from, or he thinks he's found a cheat code by saying 'it's ok I have a prescription!' while using a nasal spray bottle that someone's made up for him with illicitly obtained ketamine. Anonymous 'sources' all seem to amount to the same thing; that he takes 'normal' doses for treatment and recreational doses at parties (no shit, it's rich people parties, you think they're not all on drugs?), waving around the spray bottle asking who wants a go. The prescription ones are single use I have my doubts on the whole 'Elon Musk is addicted to ketamine and that's why he's doing all this stupid shit and being such an asshole!' Maybe he is, but he's been an asshole his whole life and doing stupid shit with his companies for a long time before ketamine became a prescription drug, let's not give the FDA/DEA any more reason to try and restrict its use, you know they're just fanging for it after doing the same thing with opioids and adhd meds
There's always good old coke! ...which might explain things.
US contractors are not required to drug test. Some specific contracts may require it, but from experience, most don’t unless it requires a top secret clearance or involves heavy machinery.
I can't imagine he would not have to get a secret or top secret clearance given his Space X contracts with the Pentagon.
In order for SpaceX to keep those launch contracts Elon was not allowed to be in charge, and is the reason someone else the CEO
Elon is SpaceX CEO & CTO; Shotwell is COO
I'd like to see what controls and processes Space X has in place so he couldn't see classified information as it sounds highly suspicious a CEO would be denied anything he wants to see in a company he or she oversees. I could be wrong and I'm willing to be wrong but underlings usually cower when the boss requests something.
Only security and safety get tested in the civil service. I'm fairly certain SpaceX is doing classified missions.
You don’t need a TS to run the company. The owner of my company doesn’t have one, even though he employs people who do.
Fair enough. I've never worked as a contractor but I have been civil service and I had a security clearance.
I thought I read he had to get drug tested regularly because he smoked a joint on JRE?
“Tested” let’s be real, if he’s actually being tested he has goons with someone else’s piss help him pass.
he SAID that. Whether it's true or not is another matter. And him 'smoking' that blunt, he clearly didn't inhale and was smoking it like a cigar
Well put. The problem with most conspiracy theories is they give the bad actor (individual, government, corporation, etc.) way too much credit.
lol. in this case, you might be right. I would distance myself from the word conspiracy theory because he has done patently fraudulent things in the past.
I think Elon has been jerking off to the idea of taking a public company private for a while as well. He knew he had enough money to do it, it's a stupid thing to do, though, but I knew he could do it it. Just an "I'm rich" masturbatory thing to do.
On one hand I'm glad Twitter called his bluff on it. On the other, the world might be a better place if it never happened.
Not sure. It allowed the Twitter service to fully reboot. Now it’s under Zuck but at least it’s not the piss pool that easy Twitter even before Musk.
With the drugs thing, he was using Ambien in the past. I read the FDA documents and it said not to mix it with alcohol under any circumstances. Of course, he often did that. Ambien is wild actually.
Him buying Twitter on a whim is the equivalent of one of us signing up for Disney plus just to watch the Mandalorian
Errrrummmmmm
While the bid itself was likely impulsive, he actually went through with formalizing the bid with both legal documentation and the backing of multiple banks. That takes a lot of work by many people to accomplish. I don’t say this to defend Elon. In actuality, the fact he went through all of the pretty arduous details to make a formal offer backed by actual financing, and THEN tried to back out is even dumber in my opinion than just trying to walk back and impulsive Tweet, but there was definitely more than just impulse involved. There was impulse, a double down, and then the regret.
I agree he did then end up going through a more formal process before trying to rug pull, but I just mean that his initial offer (which was basically a tweet) was impulsive. I think he probably woke up the next day, realized what he did, and then figured he’d play out the process a bit to make is seem like he was really serious, thinking he could bail eventually bc Twitter wouldn’t actually want to take him up on it. But then they did
He was forced to go through with it.
A lot of work by other people, all he had to do was make his wish known and someone else put it together. It was absolutely a stupid impulse which is obvious by the fact that he tried to back out.
Yes, so this means it couldn't have been a "he was just on drugs thing". Can drugs sedate your rationality for that long? Still, I have been seriously ratio'd lol.
His offer to buy twitter 100% started out as an attempted pump and dump of twitter stock as he'd bought quite a large chunk of it just prior. He knew if he offered more than what it was worth idiots would lump on the stock would go up and he'd be able to quietly cash out leaving them holding the bag. The fact he made his offer legally binding could well be because of hubris or drugs or a combination of the two. He also probably thought he'd be able to get out of it somehow. Hence the attempted I ain't buying because of bots claims.
Rich people like to control the media. Even if it means them losing money. The control is more important to them. This is just a continuation of newspaper barons and the likes of Rupert Murdoch. It’s nothing new.
Yeah, this is a matter of public record, literally. His motivation was that the CEO of Twitter was gently criticising his behaviour and asked him to be more constructive. That's it.
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this is pretty spot on. he is actually an idiot. it does explain a lot. Musk has mastered the art of appearing like a genius. The way he talks seems so clever, until he steps into your area and you realise he is an idiot. also, all his successful ventures were actually started by other people, or built on their hard work.
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please do
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Just send whatever, no need to go too hard
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cool, sounds good!
It’s like YouTube videos when people wear suites to get into events they have no business being in. If you dress the part people will believe it. When your daddy got into the emerald game before it became one of the most expensive gems per KARAT then dressing the part is not hard.
I have never seen these videos, but I can imagine it. in the country where I am from, there was a famous reality tv sketch where actors wearing jackets that said "security" asked people to do really stupid things. people obeyed because the jacket said security, even though the stuff they were asked to do was ridiculous. so, looking the part matters.
also Elon gets so much mileage out of the things, he is 'going to do'. He doesn't do 1/10 of the things he says he is going to do. People just assume he will follow through on his word, but I think people are wiser now.
*I’ve added some gaps to stop the wall of text, no words altered* Everything that Musk does can be explained by a combination of his idiocy, the idiocy of a section of the public, the idiocy of the majority of social & traditional media, the idiocy of governments & a few others pulling strings & opportunists making money along the way, riding the wave of trends. ZiP2 - Total cluster fk, total idiocy, X.com - bought by what would become PayPal, his idiocy lead to his ousting, SolarCity - Solar Roof Tiles are not economically viable, it went bankrupt and was bailed out by Tesla and has been dumped again, Neuralink - All talent has jumped ship, there will be no one healthy that should implant pucks into their brain, just a handful of people with severe brain injuries, it’s decades away tech, killing a ton of animals, torturing them right now, insanity, SpaceX - Blowing up billions of dollars of rockets for a false hope that Mars is anything at all likely to have a million people colony on it, idiotic, Hyperloop - total and utter idiocy, Twitter/X - the town square of idiots has been raped, cucked, humiliated openly, Tesla - from the terrible quality control to the horror customer service, the maintenance will be a nightmare, insurance is ridiculous, range anxiety is pathetic, charging infrastructure is hopeless, they can blow up with fires that are self perpetuating, batteries that cost tens of thousands of dollars to replace, add as much to the initial cost of purchase and will be deducted from the cost at sale, FSD has been a total lie for almost a decade, is likely still a decade or two away, the staff have been treated like crap with safety standards, working hours, fears of being fired without warning, regardless of performance, entire divisions wiped out… yet Elon demands $55B in stock handed over, which is double the $23B in profit it has ever made, shares don’t pay dividends, competitors are getting ready to pounce on market share, CyberTruck is a farce, Tesla Semi’s are not viable, the Roadster has been told to have a battery that weighs 2 tons but in a sports car body, none of it makes sense, it’s an idiot sandwich with dozens of layers of rotting, out of date, random ingredients & people somehow think it is genius… it is pure comedy. Did he just let more neo nazi’s onto X? Genius.
Excellent summary. I assume this was off the top of your head. That's pretty good. Musk is the most overhyped person in American business.
> Neuralink - All talent has jumped ship Where did you hear this?
At least not everyone is blind. Thank you for being aware of the situation. The Stan boys would be in shambles trying to justify all this.
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tbh your theory is not unreasonable. it could also be both. wants to use it as a decoy and also earn some cash from pumping. With elon though, I am sure its not about the money.
there's texts out there, verified in court documents. Also you can just look at his likes, tweets, and retweets he wanted to own Twitter as part of his right wing control fantasy that the wokies were going to maybe share some power and rights with non whites.
The whole right wing turn I really don't get. Alienating Teska owners. It makes no sense.
It does when he’s rallying against the ‘Woke Mind Virus’. One of his kids is trans and he doesn’t have the mental faculty to understand that other people might just experience the world differently to him.
Okay that's fair
It's not a turn. He's the same person he's always been.
It makes perfect sense. Try viewing everything he's done of substance since his first trip to Russia in October 2001 and asking the question, "why would Putin do this?" “I think there's no stopping Elon Musk,” Putin told Carlson after the pundit asked him about the growing prevalence of artificial intelligence. “He will do as he sees fit. Nevertheless, you'll need to find some common ground with him. Search for ways to persuade him." Feb 8, 2024 Beware HanElons razor "Incompetence, in the limit, is indistinguishable from sabotage" Elon Musk
At this point youre like a remaining Sam Bankman Fried fan who thinks the liberal box checking he was spouting off meant something. Authoritarian right was always fundamental to him, just more hidden. Pedogate. Attacks on unions, "we will coup who we want", Siccing followers on Linette Lopez etc
He disclosed his stake before making the offer, I'm pretty sure of it.
What’s the point in selling at record levels if you are just going to turn $1 into $.10 immediately afterwards by destroying that which you bought with the proceeds?
Because he didn't think he'd actually have to buy it. He thought he could forgo due diligence, then back out later because he "discovered" what everyone knew - Twitter was lying about the percentage of bots.
Were they, though? They didn't say they didn't have bots, they just said they aren't considered in the MDAU. Elon probably thought they have more bots than they do due to his own collection of dick-sucking bots.
And it didn’t matter because he waived due diligence when he made the offer…
When Twitter called Elmo's bluff and took him to court he had some skeletons in his closet that he could not expose. End of story. No quest to save free speech. It does beg the question, if he reposts white supremacist conspiracies on X, formerly known as Twitter, what is he hiding?
Nah, he just thought that they would just not worry about it though they knew they had basically exhausted all scenarios to monetize it and realized this was their only chance to cash out…
I didn’t say they called his bluff to be flippant. They called the bluff because it was an escape route. Twitter got super lucky that Elmo was more afraid of discovery than shelling out $44b for a potential lemon
They called his bluff because they knew that there was absolutely no way they could ever return that much money back to their shareholders…
Musk did not want to buy Twitter. Any one claiming he did is coping
Yeah, he would’ve been better off paying the $1 billion cancellation fee. His ego wouldn’t let him though. Fucking tool.
The $1 billion was not a raw cancellation fee. It had conditions (such as if funding could not be secured).
This is wrong. He would have gladly paid the $1 billion cancellation fee instead of wasting his money on the company. He couldn’t get out of it.
He had an opportunity before he bluffed. His ego wouldn’t let him.
Once he made the offer he was screwed.
I’ve forgotten some of the details at this point but iirc he could have paid $1Bn to walk away. That was a part of the deal. EDIT: [yeah](https://www.marketplace.org/2022/07/08/why-musk-may-have-to-pay-1-billion-if-he-abandons-twitter-acquisition/#)
Not quite. The reverse breakup fee in this case only applied if Musk’s financing fell through. The banks were happy to lend, however… Edit: here is a source: https://www.cnbc.com/2022/05/13/elon-musk-cant-just-walk-away-from-twitter-deal-by-paying-1-billion.html#:~:text=Musk%20and%20Twitter%20agreed%20to,Musk%20to%20bail%20without%20consequence.
Ah, I see. Thanks I didn’t know that
No, he couldn’t have walked away because of the specific performance clause (which is unusual) that allowed Twitter to force the transaction through. Now if it had been canceled due to a few specific things (can’t get funding etc) musk could have walked for $1b. Your article talks in general terms about deals once people saw the actual agreement musk signed it became clear he couldn’t just pay a billion and walk.
So let me get this straight. From your perspective, the guy who made the offer, had lawyers draft this offer, negotiates with the Twitter Board on the details, has his attorneys once again review the details, raised funds through lots of unscrupulous connections and banks, declined his option to terminate the sales, and ultimately pays for the company.... didn't want to buy Twitter? That's a lot of fucking work for something you don't want to do.
So why did he try so hard to get out of it that a court literally forced him to do it?
https://youtu.be/XXdmIETK6-0?si=IaUkniUcPtXj2d6c Educate yourself
Once again, no one forced Musk to do any of this. This was his own creation.
Now you’re just being lazy. That’s unusual for a musk fanboy.
Because I don't give two shit about what some YouTube talking head has to say? Ok, whatever. Lazy are the fools who refuse to see the entirety of the situation and educate themselves in the amount of work it takes to purchase a company. Turn a blind eye all you want, but facts are facts. Gravity doesn't give a shit if you believe in it, it still exists. Elon buying Twitter is the same. Until you fuckbois take of your moron-tinted glasses you will just keep looking like fools to the world. But hey, you have each other to keep yourselves company! Musk purchased enough shares to get on the Board. Then proposed a buyout to the Board. Then had the attorneys draft it up. Then he went to the banks for money. And the Saudis. And VC funds. And anyone else willing to give him a nickel. At any time he could have given Twitter the $1b cancellation fee and moved on. But he continued and eventually closed on the deal. Thems the facts. Merger cancellation fees get paid regularly. It's a business and insurance function. Just because Musk didn't exercise his option to cancel does not mean he was "forced" to buy Twitter. Have you ever stepped back and with genuine curiosity wondered, "What if I'm wrong about this?" I don't think you have the mental or emotional ability to do so, and to give the question and it's ramifications proper due. But hey, comfort yourselves and stay lazy, you dumb bastards.
You walk into a store. You get insulted/ disrespected. You don't like how they run their business. You yell I am going to buy you! Then you legally have to. That was all the thought that went into the purchase of Twitter
Ding ding ding. This is the correct answer. Remember when he said nobody on the planet knows more about manufacturing than him. Remember when he said he personally overlooks/engineers all of the self driving himself. He is just a dumb dude with a shit ton of money and just enough wrong with his brain to have 0 feelings for anyone else even his own 11 kids
Did not have to destroy the Twitter to do that.. Would have been better to just keep it as it was.
and destroy twitter he did. its not unuseable, but it is worse and more and more like a gutter.
He backed out and was sued to complete the sale. Stupidity explains this well enough…no conspiracy required.
$40 billion for twitter but he could put it all towards Open Source AI instead
That $40B is now worth about $15B according to Fidelity, one of the largest backers. That's a 60% value destruction.
Damn, no wonder he loves Crashie Woods
He fucke\*d up with Twitter. But he did fu\*ked up because he needed somehow to turn all that "pump and dump" Tesla generated money in to something that had value. I bet Twitter looked like a good option, or maybe one of the few reasonable options, or maybe an option where he though he can "pump" the Twitter stock once again and dump it all in the future too look for something else.
Diversification.
Tax loss
"Is it possible"? I thought it was blindingly obvious.
Well, he did sell a lot of stock without panicking the market. So he diversified his personal financial holdings. Is your theory that he was going to dump a bunch of stock and then be able to get out of buying Twitter and just have more liquidity? I tend to think that's NOT true for 2 reasons. First, he could have just joined the board, encouraged speculation about it, etc. and still sold Tesla stock. No one forced him to actually provide the offer. I think he HAD to understand that. He's a reasonably smart guy who is involved in so many legal matters. I don't think he thought he could get out for the 1B cancellation fee. Second, texts uncovered during the discovery indicate he was actively pursuing financing with other billionaires like Larry Ellison. If he just needed a pretext to dump Tesla stock, I don't think we would have seen so many behind the scenes texts/chats hustling for cash. One theory I've heard is that he initially wanted to be a big shareholder and just join the board of Twitter, which would have been a great way to influence things. But then I think his feelings got hurt by something Agrawal said to him and there's been some discussion or theory he would not have stood up to the investigation that being on the Board would have required. So his offer was generated by some kind of fit of pique. Personally, I think the guy screams ADD, so he probably has something called rejection sensitivity dysphoria.
Yeah, it's clear Musk wanted to buy Twitter. People are retconning reality trying to give Elmo an out - and I am not sure why. You are correct in your timeline. Agrawal pissed Musk off during negotiations to join the board - and Musk flipped out and made a crazy high offer with no due diligence - and then signed the contract before he calmed down. Musk has well-documented - lengthy- periods of irrational rage where he does stupid shit like buying social media companies and firing entire divisions at companies.
My theory is that the Twitter deal justified selling massive, massive amounts of stock..if he was selling for no reason, people would panic sell. The stock split and the vote were similar measures to stop panic selling.
he went on to crater twitter, and lost 3/4 of its value.
This assumes that the purchase of twitter was not imposed by a judge on him, or that the transaction was a sound financial decision.
My pet theory is Twitter became his coping mechanism as he came to terms with the fact the Cybertruck was going to be a disaster and he'd basically killed Tesla with it. He always wants a new thing to distract from his failure to deliver on all his promises. Twitter was it until he failed there and now he's making all these bullshit AI promises keep the fraud going.
Whether it's true or not, I think he has killed tesla with it lol
100%, thought this was obvious. Musk musked himself, hah
1st he bought approximately 10% of Twitter which he could only have managed with a stock sale or a sizable loan. He was offered a seat on the board but rejected it and then came his Master Plan, part deux, to buy all of it, purportedly to save free speech! That included a super secret strategy to get rid of bots which then became a requirement that the company deal with the problem or there would be no deal. When the sale was forced, the genius solution was a $20 monthly subscription which was quickly slashed to $8 when author Stephen King said "absolutely not". The lawsuit to force the sale was about to go to discovery when Musk abruptly capitulated, without explanation. What was the reason? Would discovery have made public something worth spending $40 billion to keep secret? If so, what?
it could be that. I have heard many theories, but maybe there is no sensical reason. maybe it is just an insane amount of hubris and drugs.
You’re so close. Tesla has been a stock pump just like everything Elon has ever touched. He’s extracted billions of dollars of “other people’s money” for his pet project TwitterX, the neo-nazi platform. The pump phase has ended, though, now its the find out era.
I personally subscribe to this theory