It would make my day if events fall out like this:
1) Musk offers to buy Twitter for $46B
2) Discovery reveals that Twitter has been lying about the size of their user base.
3) Musk backs out of the deal with no penalties.
4) The SEC fines Twitter into oblivion for falsifying information in their legally required annual reports.
5) Musk loses the main tool for his hyping due to his efforts to protect his main tool for hyping.
This isn't what will happen. He's attempting to force a renegotiation because Twitters valuation with the offer accepted dropped to $35 billion so why is he paying $46.
It was trading at ~$33 per share when he made a formal offer to buy it for $54.20 per share.
It went up to $45 after the offer, now its back to $40 with him "pausing" the offer.
You always pay more than the company is worth when you buy it out, otherwise why would someone sell? It's already worth that amount. They don't get anything for selling for the current valuation.
It only went up to $45 initially because people didn't entirely believe his offer. It's been to a high of $52.
The market has dropped considerably since the offer and I see no reason that Twitter wouldn't have dropped along with it. If so he's now overpaying by at least 10%.
You don't normally let the day-to-day movements of the stock market effect you buyout offers. If elon takes away the offer and only offers 44.20 instead, twitter/shareholders can just say no and walk away with 1 billion dollars from musk.
Like the Zynga-Take Two merger, the offer included different final prices effected by the 120 day moving average of take-twos stock price.
The musk offer was, like, on 4/20 or something, its been a month? two?
Maybe if musk can prove the company is lying to him with the %5 bot thing, then he can get out of the deal and take a billion from twitter instead? I could see that being part of the exit clause of the offer
Maybe if musk can prove the company is lying to him with the %5 bot thing, then he can get out of the deal and take a billion from twitter instead? I could see that being part of the exit clause of the offer
Sure, he'd claim fraud and breach of contract in court and demand damages. Then probably settle out of court and get away with it all.
Maybe if musk can prove the company is lying to him with the %5 bot thing, then he can get out of the deal and take a billion from twitter instead? I could see that being part of the exit clause of the offer
Sure, he'd claim fraud and breach of contract in court and demand damages. Then probably settle out of court and get away with it all.
It would be hilarious if that is the path he chooses and then Twitter decides that his market manipulation tweets violate their TOS and ban him.
Yeah you offer what you think it’s actually worth based on what you believe your plan can do with what you’re buying
If your offer price is above the closing stock price, that extra amount becomes Goodwill, an intangible asset on the balance sheet
From what I remember 3-5x annual profit (when it's profitable) is normal range for an acquisition and sometimes 10X is called for when it's a trendy item. Twitter is not trending up and was last profitable two years ago. He's overpaying by every conceivable measure if he closes this.
The poop emoji was a reply to a long tweet thread by Twitter’s CEO explaining how they’re confident bots are less than 5% of the users but they can’t be sure
Is this one of those stupid things where he has probably shorted Twitter knowing he could make a scary fuss about bots? A bored billionaire could probably run the same scheme on Facebook.
Context: Peterson is being excoriated on Twitter right now for being upset and insulting to the woman on the cover of Sports Illustrated's swimsuit edition because she's not a photoshopped supermodel and that it's the fault of "authoritarian tolerance."
I'm pretty sure everyone in this thread thinks Peterson almost certainly deserves whatever is coming his way. There's no need to get weirdly hostile about it.
I had a great boss who left for another job and a new boss took over, and on his first day he said "Do you listen to podcasts?" and I said yes. And he was like "Have you listened to Jordan Peterson?" and I quit 2 weeks later. Nooooooooo thank you.
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Interesting that you chose to leave out the context of why he was receiving these "vicious insults".
It's not really interesting. I was making A Joke.
How dare you
But in a "worst person you know makes good point" way, he's right about the incentive structure - you get more engagement with a sick burn than an effort post, but I'm not sure if there's a way to make that not be the case besides not posting stuff that's so easily sick burnable
Not to say people don't get randomly insulted garbage on twitter, but like people like Jordan Peterson don't just get it out of the blue. So he's more upset about the fuck around and find out variety of twitter discourse than random hateful assholes who he probably supports.
I would like some money because these are artisanal nuggets of wisdom philistine.
My "favorite" Twitter reaction was when I was debating with someone politely, then a random sealion who apparently searched keywords for fights to start tried to start a fight. And after I responded to him politely a few times he went "oh yeah? Well I'M BLOCKING YOU HOW DO YOU LIKE THIS PUNISHMENT?!?"
Is this one of those stupid things where he has probably shorted Twitter knowing he could make a scary fuss about bots? A bored billionaire could probably run the same scheme on Facebook.
I think this would be illegal. It seems more likely that Musk is either trying to back out of the deal and doesn't want to forfeit a cool billion or as he's also stated wants a lower price.
My "favorite" Twitter reaction was when I was debating with someone politely, then a random sealion who apparently searched keywords for fights to start tried to start a fight. And after I responded to him politely a few times he went "oh yeah? Well I'M BLOCKING YOU HOW DO YOU LIKE THIS PUNISHMENT?!?"
Is this one of those stupid things where he has probably shorted Twitter knowing he could make a scary fuss about bots? A bored billionaire could probably run the same scheme on Facebook.
I think this would be illegal. It seems more likely that Musk is either trying to back out of the deal and doesn't want to forfeit a cool billion or as he's also stated wants a lower price.
As with so many things lately, "only if they actually enforce it."
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You don't normally let the day-to-day movements of the stock market effect you buyout offers. If elon takes away the offer and only offers 44.20 instead, twitter/shareholders can just say no and walk away with 1 billion dollars from musk.
Like the Zynga-Take Two merger, the offer included different final prices effected by the 120 day moving average of take-twos stock price.
The musk offer was, like, on 4/20 or something, its been a month? two?
If your offer price is above the closing stock price, that extra amount becomes Goodwill, an intangible asset on the balance sheet
Sure, he'd claim fraud and breach of contract in court and demand damages. Then probably settle out of court and get away with it all.
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It would be hilarious if that is the path he chooses and then Twitter decides that his market manipulation tweets violate their TOS and ban him.
MWO: Adamski
Reminds me of WeWork being valued at $49 billion until they tried to float it on the stock market.
From what I remember 3-5x annual profit (when it's profitable) is normal range for an acquisition and sometimes 10X is called for when it's a trendy item. Twitter is not trending up and was last profitable two years ago. He's overpaying by every conceivable measure if he closes this.
Tesla at least has significant Bitcoin holdings iirc, and has had "pay us in Bitcoin" as an option for a while
D3 Steam #TeamTangent STO
So if you buy a Tesla in Bitcoin, they sit on it rather than convert the Bitcoin to USD immediately like most others who accept Bitcoin?
Possibly, but also Tesla purchased 1.5 billion dollars worth of bitcoin in early 2021 which they are just holding instead of dollars
He already did, it was 1200 this year, it was down to 600s this week.
pleasepaypreacher.net
He tweeted it in response to the Twitter CEO posting a thread about how there's ACTUALLY almost no spam on Twitter. Just take Twitter's word for it.
Which... uh.
Don't think either of them are coming off this one great.
It also includes this pretty funny graph: % of accounts believed to be fake:
The whole thing is dumb as hell
This comes the day after Musk publicly angled for a lower purchase price for Twitter.
So it's either an escape route or Musk literally has no clue how acquisitions work. Or what "due diligence" is.
Irony, is of course, lost on him.
He logged on to post a terrible insult about the SI Swimsuit cover model’s appearance
It's not the only place you can experience an endless flood of vicious insults
Has he never been on Xbox Live or the chat for any popular game ever?
And you don't even need to post a needlessly insulting comment about a model, either
It's not really interesting. I was making A Joke.
How dare you
But in a "worst person you know makes good point" way, he's right about the incentive structure - you get more engagement with a sick burn than an effort post, but I'm not sure if there's a way to make that not be the case besides not posting stuff that's so easily sick burnable
pleasepaypreacher.net
He's like a Lit 101 term paper come to life.
I read it as a wistful recollection of what he'll miss about the platform.
I think this would be illegal. It seems more likely that Musk is either trying to back out of the deal and doesn't want to forfeit a cool billion or as he's also stated wants a lower price.
As with so many things lately, "only if they actually enforce it."