- Joined
- Jul 4, 2022
Seems like non-issue.
I am calling it now: Twitter and Elon will settle. He will walk away from the deal and pay 8 billion +/- 1.
𝕏 / Twitter / X, the Social Media Platform Formerly Known as Twitter / "MUSK OWNS TWITTER"
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I am calling it now: Twitter and Elon will settle. He will walk away from the deal and pay 8 billion +/- 1.
InsolentGaylord
kiwifarms.net
- Joined
- Sep 13, 2019
SBG
kiwifarms.net
- Joined
- Nov 7, 2019
Judge Rules Twitter Must Turn Over Hidden Documents to Elon Musk Revealing Fake Accounts on Platform
A judge on Monday ruled that Twitter must turn over documents from a former executive that would show how many ‘fake accounts’ […] More
trendingpolitics.com
Judge orders Twitter to give Elon Musk former executive's documents
Twitter Inc needs to give Elon Musk documents from a former Twitter executive who Musk said was a key figure in calculating the amount of fake accounts on the platform, according to a Monday court order.
www.reuters.com
Musk wanted documents from 22 people, but the judge only approved the request for documents from Beykpour who was once a general manager at twitter that was asked to leave back in May. Looks like Beykpour had founded Periscope which was bought by Twitter, but Persicope was shut down back in 2020 so I imagine they lost much of a need for a guy.
Musk would likely say everyone at twitter secretly knows the truth and has the evidence about the bots, so him claiming Periscope guy has special knowledge doesn't say much.
- Joined
- Jul 4, 2022
Not sure where you think I am being super cereal about this. Ate the very least Elon is posturing that he can just walk away. The recent selling of Tesla stock is a tip off he knows he is in trouble.
Kiwisee
kiwifarms.net
- Joined
- Apr 15, 2021
Twitter on suicide watchSo the Trending Politics article is about a Reuters article.Judge Rules Twitter Must Turn Over Hidden Documents to Elon Musk Revealing Fake Accounts on Platform
A judge on Monday ruled that Twitter must turn over documents from a former executive that would show how many ‘fake accounts’ […] More
Judge orders Twitter to give Elon Musk former executive's documents
Twitter Inc needs to give Elon Musk documents from a former Twitter executive who Musk said was a key figure in calculating the amount of fake accounts on the platform, according to a Monday court order.
Musk wanted documents from 22 people, but the judge only approved the request for documents from Beykpour who was once a general manager at twitter that was asked to leave back in May. Looks like Beykpour had founded Periscope which was bought by Twitter, but Persicope was shut down back in 2020 so I imagine they lost much of a need for a guy.
Musk would likely say everyone at twitter secretly knows the truth and has the evidence about the bots, so him claiming Periscope guy has special knowledge doesn't say much.
InsolentGaylord
kiwifarms.net
- Joined
- Sep 13, 2019
THIS WILL BE THE END OF TRONOLDBLUMP THATS FOR SURE
- Joined
- Dec 28, 2014
It sounds like a reasonable compromise to me. A general allegation that "everybody knows" doesn't entitle him to a fishing expedition against "everybody." But a specific allegation that one person actually does have expert knowledge on the exact subject in question entitles him to ask that person some questions.
- Joined
- Jul 25, 2019
Bro, they're not going to order he pay more than the penalty laid out in the contract of 1 billion (or was it 2?)
There's nowhere to find punitive damages, much less $7 billion in them. The relief ASKED for by Twitter is performance of the contract.
- Joined
- Dec 28, 2014
A court of equity has broad discretion to craft a remedy for the specific situation, and even normal contract law allows for incidental and consequential damages. If the billion is treated as liquidated damages for any conceivable breach, it still has to be conscionable.
The court can't reformulate the contract or make stuff up, so I think the cap is forcing him to buy out at the original price, or pay the agreed-upon penalty, but the court could also order specific performance but at a lower price because of Twitter's deception constituting a material breach of the basic terms of the contract.
Netizennameless
kiwifarms.net
- Joined
- Nov 21, 2021
Tesla stock is not, nor has been, crashing. when you dump billions of dollars of shares onto the market at once, the price drops for a bit. once that unusual liquidity is gone, it returns to whatever it was going to do before, assuming the stock dump isn't because of fundamentals. Tesla is the only electric car manufacturer making anything electric at scale, in a world frantically pivoting to produce electric vehicles. They have a years-long headstart on battery research, battery manufacturing at scale, acquisition of precious metals useful for electric vehicles, and the worlds largest electric vehicle charging network, which they are opening up to any manufacturer's vehicles to charge at. they have a growing electricity business, which is going to double as a growing "gas station" business. Tesla stock is fine, and Goldman Sachs or whoever didn't underwrite the loan not considering the price of tesla might drop.
This buyout is not about $44 billion. It's about removing a threat to Elon Musk personally as well as bolstering the PR approach he has taken with all of his companies (using twitter to talk to people directly). The elites in the US turned on Elon fast, and have been trying to ruin his reputation. This was a shot across the bow to leave him alone or he will attack the very foundations they use to seize power. And Elon Musk isn't some seething oil tycoon, he is the face of electric vehicles and modern American spaceflight. He is the living embodiment of government subsidies not being a complete waste, so it's a big problem for the left when the person doing all the things they talk about is an open Republican.
I think he is just a regular kinda left-leaning dude who sees the writing on the wall. He isn't motivated by money, he's had that all his life and he now has more than he'll ever spend. But now the dems in power are fucking with his actual ability to create electric vehicles and get to the moon. They're trying to fuck with his legacy, which means more to him than anything. That's his real problem.
A billionaire will have roughly the same lifestyle at 1 billion or 100 billion. He chose $44 billion as an offer because it would literally be a breach fiduciary duty by Twitter's board to not consider the offer seriously, and everyone knows Twitter isn't worth even $40 per share really. The bot gambit and the attempt to pull out is all corporate fuckery designed to try to lower the price he has to pay, and put public pressure on the dems in power that he will point out their schemes to the public. But he's prepared either way.
Nobody, including Musk thinks that this will close at $54.20. If anyone had faith that Musk would be forced to buy Twitter, they'd be getting in right now. Twitter's stock priced peaked around the 2020 election, and has been on a decline basically ever since they censored the NY Post article about Hunter Biden. Then you see a bump from Elon's buyout attempt.
I don't think so. Free speech is important to Musk because if they silence him they cripple his ability to advertise and promote his companies and disrupt existing industry. He is a person at major risk of being targeted, unlike us poors.
SBG
kiwifarms.net
- Joined
- Nov 7, 2019
Tesla Stock Plunge Erases $75 Billion In Value After Elon Musk Flags ‘Super Bad Feeling’ About Economy
Experts have warned that recession fears are likely overblown, but Musk reportedly wants to lay off 10% of Tesla’s nearly 100,000 workers.
www.forbes.com
Tesla, Inc. (TSLA) Stock Historical Prices & Data - Yahoo Finance
Discover historical prices for TSLA stock on Yahoo Finance. View daily, weekly or monthly format back to when Tesla, Inc. stock was issued.
finance.yahoo.com
Attachments
Netizennameless
kiwifarms.net
- Joined
- Nov 21, 2021
I'm not sure what your point is, all that second table shows is that Tesla's stock price is back to pre-crash levels. $75b is not a huge amount of money when the company market cap is $1T ($1,000b). Less than 8%. It's definitely not a crash when the market on average was doubling or tripling those losses.View attachment 3608998
When the Ukraine invasion happened along with the energy crisis much of the stock market took a hit. I’m not sure the pint of pretending that didn’t happen.Tesla Stock Plunge Erases $75 Billion In Value After Elon Musk Flags ‘Super Bad Feeling’ About Economy
Experts have warned that recession fears are likely overblown, but Musk reportedly wants to lay off 10% of Tesla’s nearly 100,000 workers.
You can check the stock prices at the time here.Tesla, Inc. (TSLA) Stock Historical Prices & Data - Yahoo Finance
Discover historical prices for TSLA stock on Yahoo Finance. View daily, weekly or monthly format back to when Tesla, Inc. stock was issued.
If your point is that tesla didn't perform any worse than the market at large, then i agree. I truly am not sure the point you were trying to make.
- Joined
- Nov 19, 2020
View attachment 3608998
When the Ukraine invasion happened along with the energy crisis much of the stock market took a hit. I’m not sure the pint of pretending that didn’t happen.Tesla Stock Plunge Erases $75 Billion In Value After Elon Musk Flags ‘Super Bad Feeling’ About Economy
Experts have warned that recession fears are likely overblown, but Musk reportedly wants to lay off 10% of Tesla’s nearly 100,000 workers.
You can check the stock prices at the time here.Tesla, Inc. (TSLA) Stock Historical Prices & Data - Yahoo Finance
Discover historical prices for TSLA stock on Yahoo Finance. View daily, weekly or monthly format back to when Tesla, Inc. stock was issued.
Where have I seen this before?
There is one truth, the stock has always behaved like a roller coaster.
- Joined
- Jul 25, 2019
Yeah, but Musk is buying Twitter at some price, or paying a penalty at around the agreed amount. Not going to see anything nearing 8 billion in penalties. Hell, that's nearing a quarter of the agreed purchase price.
@Netizennameless Stop long posting so I can reply easily
He can't be silenced... the interest is probably self-serving, but not because he can be silenced (he has far too much money to be silenced, fuck, a traditional marketing campaign can be done with his pocket change)
If he's doing anything PRINCIPLED though... that's another story... High net-worth guys view total worth as a score on a leaderboard, but he's done won that... who knows what his next win condition is.
SBG
kiwifarms.net
- Joined
- Nov 7, 2019
The price dipped and given Musk did eventually have to sell Tesla shares for the buy it seems like it was going to be required for him to do at some point. Doing it during the crash or dip or whatever you want to call it probably wouldn't look as appealing a move as waiting until it came back up.
You can imagine that the difference in value shouldn't be any big deal to Musk because he's a billionaire, but I don't think that's true.
- Joined
- Nov 19, 2020
That's an easy one, taking that fuck-huge rocket and landing it on Mars.
They fired up ONE of the 33 engines a on the Starship booster a few days ago. They are supposed to do an orbital test flight with it soon. I can't even imagine what 33 engines going full throttle on the worlds most powerful rocket will look like but
Here's the static fire for those interested. (a couple different camera shots)
- Joined
- Dec 28, 2014
Or not paying a penalty if there's been a breach material enough that it constitutes nonperformance on Twitter's part that made his own performance impossible. A material breach, especially at the outset, generally means the other party doesn't have to perform.
Not every breach is material and without some hard evidence (which it is Musk's burden to present), it's an uphill climb to prove that even if Twitter breached, it was actually material enough to justify his own breach. As an example of a non-material breach, imagine you contracted to build a new bathroom and specified in the contract a particular brand of pipe. The contractor performed adequately otherwise, but substituted another brand of pipe, that turns out at trial to have been of equal value. The homeowner demanded specific performance, that the contractor rip out all the wrong brand pipe and rebuild it entirely with the agreed-upon pipe.
In this case, while there was a breach, it isn't material. He might be entitled to the difference in value between the agreed-upon brand and what was used, but he doesn't get to put the contractor through extraordinary efforts to get something fixed that didn't harm him.
This is probably what Twitter is going to argue if it's found that they breached at all, that while perhaps they failed to turn over every detail of the bot situation that they knew, their disclosures were in all material respects compliant and their numbers at least adequately accurate, and that Musk is simply using this as a pretext to renegotiate the terms of the contract and get a bargain (and perhaps even that he intended to do this from the start).
The fact the judge has ordered them to turn over anything new at all does seem to indicate he thinks they have not in fact turned over all the information Musk is entitled to, otherwise why order them to turn over more?
AnonymousKot
kiwifarms.net
- Joined
- May 12, 2022
My biggest issue with this is that musk waived due dilligence when he negotiated with the scc and twitter for the deal, as much as i want twitter to lose, it was really retarded of him to waive it since its basically an agreement that he would buy twitter even if there were issues during or prior to the supposed purchase.
- Joined
- Jan 13, 2022
- Joined
- Jul 25, 2019
Donie O'Sullivan on Twitter: "#BREAK A former Twitter executive, its …
archived 23 Aug 2022 13:26:40 UTC
And the CNN page.
Twitter whistleblower Peiter "Mudge" Zatko raises concerns over secur…
archived 23 Aug 2022 11:07:56 UTC