he said. “We’ll be gone, and it’ll be gone because of an advertiser boycott.”… eeer, no.
And little of value was lost.
“I fucking hate you and wish you’d get hit by a bus”
Five minutes later: “Please don’t leave babe… I love you…”
Dude is not well.
Yeah I just watched the clip and he seems legitimately unhinged. “Earth will judge them.”
I mean what the heck, honestly.
Ahh, the negotiator
I always feel like there’s this low-key conspiracy to deed out every proper noun a cinematic treatment
This is the free market at work, not black mail like he claims.
but muh 20-d chess
What a fucking clown. Shareholders should be holding him personally liable for tanking the company.
He bought it so he’s the only shareholder. It’s not publicly traded anymore.
He’s not the only shareholder though.
First off, they didn’t pay $44bn, that number includes a $13bn loan that Twitter took out to buy itself on behalf of the new owners. Musk paid ~$27 including fees, $20bn of this was Tesla stock (which since shortly after has been underperforming), then $5bn was other investors, including that Saudi Prince.
Edit: there was also Musk’s existing shares, which iirc was around $2bn, but I think that’s included in the $27bn - so his payment was something like $25bn, made up of $20bn in stock and $5bn in cash. /e
Musk is the majority owner, owning roughly around 26/31 of the value. However he isn’t the only shareholder.
In any case the leveraged buyout has been structured with the intent of killing the business. There was never any sincere hope of paying off the $13bn debt, and the intent was all but proven when they almost immediately stopped paying rent on their offices. This might not have been the goal along, but since Musk was forced to make the purchase that’s what it turned into.
In any case the leveraged buyout has been structured with the intent of killing the business. There was never any sincere hope of paying off the $13bn debt, and the intent was all but proven when they almost immediately stopped paying rent on their offices.
i don’t know that this is certain. Withholding rent is not an uncommon tactic to force a landlord to renegotiate a lease (in fact, that was the stated reason for withholding rent, for whatever Elon’s statements are worth). Certainly a very dirty one, and one that could blow up in his face if the landlord called his bluff and evicted him (last i heard they were handed an eviction notice in June, but I assume that’s either currently being litigated or already settled). It may have been HIS intent, but that doesn’t mean his shareholders weren’t intent on being repayed.
Regardless, I think ‘shareholder’ is a bit misleading (even if completely accurate and justified), because people (possibly the original commenter) think of CEO’s having fiduciary obligation to shareholders for publicly traded companies, and that’s not the case here.
There are other contractual obligations he would have to his co-investors and lenders (more serious ones I think) if he’s found guilty of intentionally tanking the company. I think that’s probably why he’s being so vocal here about it being the fault of the advertisers; if he tanks the company, whether he’s held to those contracts or if he’s allowed to declare bankruptcy depends on whether the plaintiff’s can prove he tanked it intentionally. If he did (as I think is pretty clear to most people at this point) and he’s found guilty of that, he’d be held liable for the total repayment of those loans plus whatever damages determined.
While he himself didn’t pay $44b for twitter, he could end up personally paying that much if all of the above comes to fruition, and that’s worst-case for him. Considering his net worth is mostly tied up in his other companies, he could stand to loose most of his net worth. If he gets tied up in a fraud trial, chances are high that his other companies’ stock values would plunge, too (TSLA has a beta value of 2.3, which means it’s more than twice as volatile as the rest of the market).
TLDR: Elon has every reason to be completely loosing his shit
TLDR: Elon has every reason to be completely loosing his shit
I’m just picturing Elon slinging shit like arrows from a bow. LOOSE!
I’m leaving it, is a much better description of his current mental state.
The banks that finaced him are extremely furious though.
They should learn not to give someone free money just because they have money already.
Ah, I thought he only acquired a controlling stake, rather than buying the full company outright.
Why burn 23 billions if you can burn 44?
BTW, cool user identity!
Jewish people are funding causes meant to “annihilate” them
This is what happens when your CEO overdoses on his own farts.
We’ll be gone
Don’t threaten me with a good time…
“That is what everybody on Earth will know,” he said. “We’ll be gone, and it’ll be gone because of an advertiser boycott.”
Oh no, not at all, dear … everybody on Earth is perfectly aware that it is YOU who is killing the company. Twisting the narrative to feel better within yourself ain’t gonna change the fact. Why would any advertiser worth a damn, want to be associated with Stormfront 2.0?
everybody on Earth will know
hahaha holy shit, he believes. he really believes his own shit. he really views “X” as being of planetary importance. he’s actually living in his daydream, where Mars (by his hand) and Earth are networked (by him) and his “X” has somehow supplanted the Internet and spans between planets. his principal operating perspective is a delusion. wow. like, all the time.
Did someone actually watch the interview? He just looks like an overgrown kid trying to make others in the classroom laugh… That would have been funny if it was not pathetic…
I could only manage to skip through a bit… any idea roughly when he says the fuck yourself line?
Here around the beginning I think
Wow, that was worse than I expected. I think I have second hand embarrassment from watching it.
Holy smokes! I just watched it, he doesn’t hardly even look at the interviewer, he’s constantly looking at the audience and trying to get a reaction. I take it back what I said earlier, I was far more mature then him when I was in 8th grade. The interviewer is having a hard time with someone so cocky and stupid.
It is hilarious to me how this guy thinks he is entitled to have advertisers on his platform. I don’t understand why he thinks he can coerce them back with insults and claiming they will bankrupt his company. Why do they have any responsibility to save your rotten company? Delusional!
He’s just using abusive partner/parent tricks to manipulate people. I doubt they have any real basis in logic.
Elon made deals w/ hedge funds to funnel him money as they shorted the stock (not to mention 100x leverage derivatives against Twitter).
Since canceling his PR team, Elon’s entire MO has been to run it into the ground in a manner that seems plausible to the SEC so he doesn’t get out-right sued.
He just isn’t this stupid, whether you want him to be or not.
“Fuck you” to his advertisers seems like a fairly on-brand way to telegraph his true intentions.
I’m a little confused by this comment, Twitter isn’t a publicly traded stock anymore?
Unless you mean he made deals with them before he BOUGHT twitter (for well beyond market value), meaning the hedgies would be taking a loss…?f
edit: that doesn’t preclude the possibility he’s tanking the company so he can declare bankruptcy to get out of his loans, but that doesn’t involve conspiring with hedge funds, it’s just a different kind of financial fraud
He’s the primary owner of the private shares. The shares are not publicly traded. None of what you said makes any sense.
Biznis jenius
Short X 📉
This is the best summary I could come up with:
Elon Musk took the stage at the DealBook conference on Wednesday evening with nervous laughter and a cascade of jokes about himself and his companies.
But the interview quickly turned to the more serious subject of Musk’s recent antisemitic posts on X and whether his company can survive the advertiser boycott.
Musk’s message to advertisers came after what had briefly appeared to be an attempt to salvage the damage he caused after he called an antisemitic post the “actual truth” two weeks ago.
More than 100 brands have since halted their ads, and the company is at risk of losing $75 million by the end of the year, according to The New York Times.
His attempted clarification only seemed to further the antisemitic conspiracy theory he promoted in the first place, broadly blaming “people in the Jewish community” for their support of unnamed activist groups.
But the questions around Musk’s own actions, and the resulting advertiser exodus — the things that could materially impact X — seemed to garner the most nonchalant answers.
The original article contains 497 words, the summary contains 173 words. Saved 65%. I’m a bot and I’m open source!
No real loss if it does die.
Why the fuck would advertisers want to pay to have their products advertised and inevitably associated with the shit on there?
