It’s called innovation, stupid.
This guy seems like the more interesting version of Elon.
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He seems like a freak and a very weird dude.
Watched a great documentary about the space stuff made by Arte. Unfortunately I could only find it in german and french as Arte is a cooperation between Germany and France.
french: https://www.youtube.com/watch?v=Wfk4PgMPo20
german: https://www.youtube.com/watch?v=lspQSnLDl3o
So the cliffs are basically:
- if we let Musk and Bezo do the exploration it will be colonisation(like the Europeans did in Africa) and reproducing the work conditions you will find in an Amazon ware house - basically modern slavery because the people doing the work would always depend on earth for food and stuff
- nobody talks about the social problems arising on long space flights - they had experiments which were failures because the participants injured each other or sexually harassed the women
- everything we see in films is unrealisitic because cosmic radiation will go through windows
- you would be quicker by foot to Alpha Centauri than waiting until we produced enough antimatter to fuel a space ship - they used Star trek as an comparison for the amount you would need
- earth is already a paradise
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Is there a world where this goes very badly for Elon? To me it seems more likely than not.
He is pledging his Tesla shares to buy a very expensive business he “does not care about the economics” of. What could go wrong.
I know nobody ever has consequences in America. But this guy is just a massive fish on a heater.
I mean every Media Industrial Complex chode jacks off to the twitter “discourse” constantly. If ever a company was too big to fail in the modern lol economy it’s twitter. If it ever runs out of saudi money there will be 1500 op eds about how we desperately need to save this vital institution of democracy or whatever.
Jfc What changed? Seems like he might pull this off.
He made them an offer they can’t refuse.
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It seems pretty stupid for them to refuse it? If they do, their share price immediately drops to like $32, and that’s before factoring in the earnings report in which they’re probably about to shit the bed.
All the guys on the board probably have stock. It’s totally reasonable for them to sell the company. It seems idiotic of Musk not only to buy it but to risk his entire fortune to do so. He has no actual plan here, as usual, he’s just trolling and assuming it will work out because it always has before.
Edit: reading between the lines I’m still skeptical this gets done. The remaining negotiation seems to be around the break fee if Musk doesn’t close, which is not something he would be intensely negotiating if he actually plans to buy the company?
I hope to find out he already dumped his shares for an immediate 55% gain. That’s what would make the most sense, and then oops somehow the deal falls through.
Actually something I saw recently is a lot of them are not big stockholders in twitter. I just think they don’t want to get sued by shareholders.
Gambling everything he has is kind of his signature move.
The board has very little stock in Twitter - if anything there incentive is to not sell to keep their cushy jobs (although it only pays $225k it requires almost no work). I’m sure the board is also friendly with current management so wants to help them keep their big paychecks (current management also owns very little of the company, so would really be screwed by Musk completing the acquisition). Looking at their last filing - the board and management combined own less than .3% of Twitter stock (other than Dorsey, but I think he subsequently sold most of his shares).
That said, boards should almost always sell if they get an offer with a substantial premium - the notion that somehow it’s better for shareholders to keep the company public and earning money rather than take the immediate premium almost never is true - it’s just what boards claim to justify not selling.
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So if this goes through, Trump is back on Twitter right? MTG free to tweet about Jewish space lasers to her heart’s desire? That prolific anti-vaxx dude is back in the mix? No misinfo bans?
What a fucking disaster for humanity.
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What do you think is going to happen:
- The sale goes through: in one form or another, Musk buys Twitter
- The sales falls through, Musk does NOT buy Twitter
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Wouldn’t 0.3% of TWTR stock still divide out to like 8 figures of stock per board member?
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How much does fiduciary duty matter? Would a lawsuit brought by the shareholders actually succeed? No one can really prove what’s best for shareholders in the long run, so I feel like the board has plausible deniability if they wanna decline the offer.
This sale falls through, then the price drops to $20 and Elon returns with an offer of $35 
The board always gets sued. The board members all have directors and officers insurance and are basically never personally liable.
Fiduciary duty does not mean you have to sell to someone offering above the current market price. Unless there is a conflict of interest the business judgment rule applies, which basically says it’s not the role of the courts to question business decisions. However, once a company is in play, the board has to take the highest bid.
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