Elon Musk: Always A Douche

[The Minsky Moment]

Why would he do that?

Because reputable corporate boards won't commit to a merger agreement with a financing contingency.  It's a change of control of a major corporation, not the sale of a cottage.

[Jacob]

Source (paywall): https://www.ft.com/content/5ef14997-982e-4f03-8548-b5d67202623a
Source (no paywall): https://archive.ph/cbjyQ

[HVC]

He's well on his way to Bond villain.  Just needs some lasers to attach to his satellites to ensure his world order

[alfred russel]

Why would he do that?

Because reputable corporate boards won't commit to a merger agreement with a financing contingency.  It's a change of control of a major corporation, not the sale of a cottage.

Interesting, i checked a few agreements and didn't see one in any of them...there are other contingencies but not financing...i would have thought that someone like Elon Musk would have protected himself because $44 billion is a ton of money even for him and if financing did fall through that could mean a firesale of tesla stock: he could really get burned.

[Jacob]

Well, there's the exit clause - the $1 billion dollar cancellation fee. Right?

[alfred russel]

He's well on his way to Bond villain.  Just needs some lasers to attach to his satellites to ensure his world order

We've spent 20 years arguing about our various opinions on various topics like what to do in the event taiwan is invaded or how to solve ukraine...shouldn't he be able to share his half baked ideas too?

[Jacob]

We've spent 20 years arguing about our various opinions on various topics like what to do in the event taiwan is invaded or how to solve ukraine...shouldn't he be able to share his half baked ideas too?

Elon Musk should feel free to post on languish, though I don't think he'd last long around here unless he got to bring his followers and/ or purchased the board.

[HVC]

He's well on his way to Bond villain.  Just needs some lasers to attach to his satellites to ensure his world order

We've spent 20 years arguing about our various opinions on various topics like what to do in the event taiwan is invaded or how to solve ukraine...shouldn't he be able to share his half baked ideas too?

We can, but no one takes our opinions seriously ( and rightfully so ). But there are people out there who takes Elons opinions seriously. He also has a history of lashing out against those who don't agree with him. This leads to various outcomes ranging in calling rescuers pedophiles to unintentionally paying billions for a social media platform.  It's hard to gauge how he'll react if, say, the Ukrainians tell him to shut the hell up.

[Valmy]

He's well on his way to Bond villain.  Just needs some lasers to attach to his satellites to ensure his world order

We've spent 20 years arguing about our various opinions on various topics like what to do in the event taiwan is invaded or how to solve ukraine...shouldn't he be able to share his half baked ideas too?

I mean he can. But should he?

Besides I don't share my stupid ideas on Facebook or somewhere where my real name and status (such as it is) is used. I share them here specifically because it is anonymous-ish with a limited audience of people I generally trust to give it to me straight. I do that because just saying stupid things publicly is a bad idea for anybody and especially for somebody like Musk. People don't lose their jobs when I say stupid shit on Languish.

[Legbiter]

We've spent 20 years arguing about our various opinions on various topics like what to do in the event taiwan is invaded or how to solve ukraine...shouldn't he be able to share his half baked ideas too?

There's something very pathetic about how eagerly Russian internal propaganda has seized on his remarks about essentially maybe not retaking Crimea back from them...like their feelings and self-worth at this point literally hinge on any scrap (a tweet in this case) of anything said in West that involves an outcome slightly less awful than Russia redoing the Time of Troubles.

I say his tweet is good in that it forces the Russian elite to very briefly pause their vodka-soaked brooding and self-pity mixed with suicidal ideation, where their nuclear arsenal at least exacts revenge because of their immense and catastrophic failure of a war, and they can briefly imagine a time where it will actually end.

Also, with his Starlink system Elon Musk has ultimately killed and wounded more Russians than the Wehrmacht did defending the Seelow Heights .   

[Crazy_Ivan80]

We've spent 20 years arguing about our various opinions on various topics like what to do in the event taiwan is invaded or how to solve ukraine...shouldn't he be able to share his half baked ideas too?

Elon Musk should feel free to post on languish, though I don't think he'd last long around here unless he got to bring his followers and/ or purchased the board.

that would draw in quite a crowd...

[Oexmelin]

I think it's Languish that wouldn't last long if Musk signed up.

[The Minsky Moment]

Well, there's the exit clause - the $1 billion dollar cancellation fee. Right?

Just so.

There is no reason why a seller's BOD would ever saddle the seller with the risk of the buyer's financing, even in a friendly merger, unless the seller were truly desperate and distressed. 

OTOH its common for both sides to limit liability for breach with a flat liquidated damages amount.

[alfred russel]

Well, there's the exit clause - the $1 billion dollar cancellation fee. Right?

Just so.

There is no reason why a seller's BOD would ever saddle the seller with the risk of the buyer's financing, even in a friendly merger, unless the seller were truly desperate and distressed. 

OTOH its common for both sides to limit liability for breach with a flat liquidated damages amount.

It is constructively the same thing...

If the value of the deal vs. no deal to Twitter shareholders is ~$20 billion, a flat damages amount of $1 billion in the event musk can't get financing transfers the bulk of the risk onto them.

[The Minsky Moment]

It is constructively the same thing...

If the value of the deal vs. no deal to Twitter shareholders is ~$20 billion, a flat damages amount of $1 billion in the event musk can't get financing transfers the bulk of the risk onto them.

If there is no deal to had at +20 billion, because of lack of financing, then the +20 billion was never something that was at risk to lose in the first place.   What is at risk of loss is the time and money wasted trying to the deal to close.  That's what the 1 billion compensates for.