Elon Musk: Always A Douche

[Jacob]

So apparently Musk had a little chat with Putin before he floated his "Ukraine should negotiate with Russia by giving up everything Russia is currently occupying" suggestion.

https://www.vice.com/en/article/ake44z/elon-musk-vladimir-putin-ukraine

EDIT: though apparently he denies it, so maybe not?

[alfred russel]

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.

Again, I haven't read the agreements nor do I ever intend to. But Musk is worth in excess of $200 billion. This transaction is something like $44 billion. So if the lack of financing allows Musk to walk away with just a $1 billion payment, that does put the $20 billion at risk because Musk could raise the funds himself.

[HVC]

Some more bad news for Elon, it looks the feds are involved now. Both sides accuse each other of being investigated.

https://www.theglobeandmail.com/business/international-business/article-musk-under-federal-investigation-tied-to-twitter-deal-twitter-court/

Elon Musk is being investigated by federal authorities over his conduct in his $44-billion takeover deal for Twitter Inc, the social media company said in a court filing released on Thursday.

While the filing said he was under investigations, it did not say what the exact focus of the probes was and which federal authorities are conducting them.

Twitter, which sued Musk in July to force him to close the deal, said attorneys for the Tesla Inc CEO had claimed "investigative privilege" when refusing to hand over documents it had sought.

In late September, Musk's attorneys had provided a "privilege log" identifying documents to be withheld, Twitter said. The log referenced drafts of a May 13 e-mail to the U.S. Securities and Exchange Commission (SEC) and a slide presentation to the Federal Trade Commission (FTC).

"This game of 'hide the ball' must end," the company said in the court filing.

The court filing, which asked Delaware judge Kathaleen McCormick to order Musk's attorneys to provide the documents, was made on Oct. 6 – the same day that McCormick paused litigation between the two sides after Musk reversed course and said he would proceed with the deal.

Alex Spiro, an attorney for Musk, told Reuters that Twitter's court filing was a "misdirection" and asserted: "It is Twitter's executives that are under federal investigation."

Twitter declined to comment on Spiro's statement. It also declined to comment when asked by Reuters about its understanding of any investigation into Musk.

The SEC did not immediately respond to a request for comment and the FTC declined to comment.

The SEC has questioned Musk's comments about the Twitter acquisition, including whether a 9 per cent stake he had built up before announcing his bid had been disclosed late and why it indicated that he intended to be a passive shareholder. Musk later refiled the disclosure to indicate he was an active investor.

In June, the SEC asked Musk in a letter whether he should have amended his public filing to reflect his intention to suspend or abandon the deal.

The Information, a tech news site, reported in April that the FTC was scrutinizing whether Musk failed to comply with the antitrust reporting requirement relating to an investor's intentions of being a passive or active shareholder.

Twitter said in June, however, that the takeover deal with Musk had cleared an antitrust waiting period for review by the FTC and U.S. Justice Department.

McCormick has given Musk until Oct. 28 to close the acquisition. If the deal does not get done by then, a trial date will be set for November.

[Jacob]

So it looks like Musk is saying he'll close the deal by the end of the week?

[garbon]

[DGuller]

  He's becoming more and more Russian with every passing day.

[Grey Fox]

He has apparently taken control of Twitter. CEO, CFO and Head of moderation are out. I expect Donald Trump to be unbanned tomorrow. Even when losing a war, Putin is winning.

[Josquius]

I wonder if we will see a legit attempt at "truth social" that actually takes off against this?

[Admiral Yi]

I wonder if we will see a legit attempt at "truth social" that actually takes off against this?

I don't think the percentage of the populace who are triggered by Trump to the degree that they will seek out a "safe space" is sufficiently high to create a critical mass for "Legit Truth Social."

[Josquius]

I wonder if we will see a legit attempt at "truth social" that actually takes off against this?

I don't think the percentage of the populace who are triggered by Trump to the degree that they will seek out a "safe space" is sufficiently high to create a critical mass for "Legit Truth Social."

Less the triggered by Trump I'm thinking and more this just being a tip of a shitty fox newsy fake news iceberg.

[Admiral Yi]

Less the triggered by Trump I'm thinking and more this just being a tip of a shitty fox newsy fake news iceberg.

Same diff

[Josquius]

Less the triggered by Trump I'm thinking and more this just being a tip of a shitty fox newsy fake news iceberg.

Same diff

I don't think it is.
If twitter becomes a place where facts are censored and right wing bollocks gets boosted I do think there's a lot of people who will see it as no longer a place worth posting. This does leave a potential market to recreate pre-musk twitter (with blackjack and hookers)

[DGuller]

He has apparently taken control of Twitter. CEO, CFO and Head of moderation are out. I expect Donald Trump to be unbanned tomorrow. Even when losing a war, Putin is winning.

I'm getting that sick feeling again that Putin just can't lose.

[DGuller]

Hopefully Twitter dies and decomposes without anything taking its place.  Humanity can't handle things like Twitter.

[Admiral Yi]

I don't think it is.
If twitter becomes a place where facts are censored and right wing bollocks gets boosted I do think there's a lot of people who will see it as no longer a place worth posting. This does leave a potential market to recreate pre-musk twitter (with blackjack and hookers)

Yeah, no.