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Elon Musk Makes Cash Offer for Twitter


Cartmann99

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This is a story I’ve been following. I wondered from the beginning if he was immediately going to have buyers remorse and try to back out of it and it seems that yes that assessment was correct. I may be enjoying the fact that the Twitter folks are holding his feet to the fire on the verbal agreement he made.  I personally suspect the whole thing’s gonna end up in court.

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Twitter is going to fight it out in court with Elon
 

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NEW YORK — Shares of Twitter slid more than 9% in the first day of trading after billionaire Elon Musk said that he was abandoning his $44 billion bid for the company and the social media platform vowed to challenge Musk in court to uphold the agreement.

Twitter is now preparing to sue Musk in Delaware where the company is incorporated. While the outcome is uncertain, both sides are preparing for a long court battle.

“This is going to be a long and ugly court battle (Twitter has already hired counsel) ahead in which the fake account/bot issue will be scrutinized for all to see and casts a dark cloud over Twitter’s head in the near term," Ives said.

Many experts in the legal and business sectors believe Twitter likely has a stronger case.

 

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And I don't think Elon is helping himself acting like a goddamn 12 year old

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Elon Musk mocked Twitter's efforts to force him to purchase the company -- in a tweet, of course.

Early Monday, Musk tweeted four images of him laughing next to captions that read: "They said I couldn't buy Twitter. Then they wouldn't disclose bot information. Now they want to force me to buy Twitter in court. Now they have to disclose bot information in court."

That was soon followed by a picture of actor Chuck Norris playing chess with only a single pawn on his side of the board, and a complete set of pieces on the other side, with Musk tweeting, "Chuckmate."

Musk disclosed late Friday he was pulling out of his agreement to buy Twitter, citing the lack of information about the number of Twitter users made up of bots. His lawyer said that placed Twitter "in material breach of multiple provisions" of the original agreement.

Seriously.  Those tweets are probably gonna wind up being included in the plaintiff's exhibits and come back to bite him in the ass.  And he may not like what he has to disclose in court either. 

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I can’t wait to see Elon get his ass handed to him in court. Oh, how I would love to be a litigator on Twitter‘s team…

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It’s not just a court case I’m interested in. He’s already under SEC restrictions from past behavior. Specifically I believe someone in the test the legal department has to approve his tweets because of past issues. So I’m rather waiting for the SEC to come through with the smack down on something at some point here.

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Elon's getting some blowback from Tesla's customers

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Jason Simon placed an order for a Tesla Model 3 this April, eager to own an electric vehicle.

He heard from Tesla in June that his car was ready, but he backed out of the purchase, losing the $250 order fee he paid. Simon told CNN Business his feelings changed this spring after Tesla CEO Elon Musk struck a deal to buy Twitter. Musk has since backtracked and indicated that he wants out of the deal to purchase the social media company.

Simon is one of many electric vehicle buyers who have developed new, stronger feelings about Musk and Tesla in recent weeks.

Driving a Tesla has long been a way for consumers to signal values on the environment and sustainability.

Simon went on to say that he felt like Tesla's employees who participated in stock plans got fornicated over by Elon's antics given how much Tesla stock dropped. 

As I've indicated before there was a time when I would have bought a Tesla.  Now as long as that rich douche cannon has any position or other influence in Tesla I wouldn't touch one with a 10 foot cattle prod.

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Twitter has officially sued Elon.

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Twitter has officially sued Elon Musk after he decided to terminate the $44 billion deal he signed to buy the social media platform earlier this year. 

The suit, which was obtained and shared by NPR, was filed in Delaware’s Court of Chancery Tuesday, July 12. It accuses Musk of reneging on the contract he signed to buy Twitter because it “no longer serves his personal interests,” adding, “Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away.” 

Twitter’s goal, the suit states, is to “enjoin Musk from further breaches, to compel Musk to fulfill his legal obligations, and to compel consummation of the merger upon satisfaction of the few outstanding conditions.”

Here's a copy of the complaint that was filed

I wonder how long Elon will keep his account going on Twitter?  I hope he keeps it going and hope he keeps posting stupid shit on there.  Probably not a good idea to keep tweeting on there if one is being sued by the company hosting the service but he's so arrogant that I could see him continuing on and thinking that it's not gonna come back to bite him in the ass.

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On 7/9/2022 at 4:41 AM, clueliss said:

This is a story I’ve been following. I wondered from the beginning if he was immediately going to have buyers remorse and try to back out of it and it seems that yes that assessment was correct. I may be enjoying the fact that the Twitter folks are holding his feet to the fire on the verbal agreement he made.  I personally suspect the whole thing’s gonna end up in court.

Spot on!  I read through the complaint (not the exhibits), and it does seem like buyers remorse with Trump-like mockery thrown in.  Will be interesting to follow the case.  Thanks for posting the complaint, @47of74

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Yeah fuck face was counting on Elon to let him come back to Twitter so that’s why that six foot stack of shit is so upset now. 

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Former President Donald Trump recently targeted Musk with a series of disparaging comments online after Musk announced he no longer intended to buy out Twitter. It's unclear why the news of Musk bailing on his agreement with Twitter would set off Trump. But, perhaps, the former president had secretly hoped Musk would make good on his promise to allow him back on the social media platform when he took over.

 

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Yeah Musk is not the genius all the Tesla fanboys and girls say he is

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As expected, Twitter has sued Elon Musk, filing a complaint drafted by Wachtell and Wilson Sonsini litigators. But as Twitter delivers over 60 pages of thoroughly brutal allegations painting Musk’s business acumen as only slightly removed from handing a seal three beach balls and several billion dollars, my primary takeaway from the complaint was: joy.

Real, genuine, Biglaw joy.

Elite law firms aren’t known for giddy feelings, but the whole deal reads as lawyer fun from start to finish. From Simpson Thacher and Wilson Sonsini negotiating a deal tailor-made for this moment, getting every concession along the way. To counseling Twitter through the deal as Musk managed to live up to every one of the attorneys’ rock-bottom expectations. To the moment Wachtell got to come in and take the deal shepherded by two other firms and turn it into an absolute scorcher of a complaint. Everyone deserves credit and the closing dinner on this one may actually cost a billion dollars and be entirely worth it.

But right now, let’s just appreciate the moment. This is one of those rare cases where everyone (on Twitter’s side anyway) from the birth of the deal to the courthouse steps has seen the fruits of their labor immediately pay off. For a job that’s usually messy and built off compromise and caveats, that’s fun to witness.

 

And Bloomberg had this about how Musk was in such a hurry to buy Twitter he agreed to a bunch of things that are now coming back to bite him in the ass.

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A judge ru ruled the trial should be between Musk and Twitter in October.

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In an early victory for Twitter, a judge on Tuesday ruled that the company's lawsuit against Elon Musk over their $44 billion acquisition agreement should go to a five-day trial in October.

The decision came at the end of the first hearing in the case over whether to expedite the proceedings. When it filed the suit last week, days after Musk moved to terminate the deal, Twitter (TWTR) filed a motion to expedite the proceedings and requested a four-day trial in September. Musk's legal team opposed the motion.

Twitter's lead counsel William Savitt came out swinging against Musk at the start of the hearing as he argued in favor of a speedy trial. Savitt said the continued uncertainty hanging over the company from the outstanding deal and litigation "inflicts harm on Twitter everyday, every hour and every day." He also pointed to what he described as Musk's continued disparagement of Twitter, including on its own platform.

"Musk has been and remains contractually obligated to use his best efforts to close this deal," Savitt said. "What he's doing is the exact opposite; it's sabotage."

 

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SEC has further business with Musk and Tesla

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The Securities and Exchange Commission apparently isn't done with Elon Musk and his tweets quite yet.

Tesla (TSLA) disclosed in a quarterly regulatory filing Monday that it received a new subpoena from the SEC on June 13, related to "our governance processes around compliance with the SEC settlement." That settlement, which stripped Musk of his title as chairman of Tesla while allowing him to remain as CEO, came because of Musk's 2018 tweet that he had "funding secured" to take Tesla private.

The SEC charged that despite discussions with Saudi investors Musk did not have the funding secured to take Tesla private. As part of that settlement, Musk agreed to that charge and also agreed had to submit any tweet with information that would be material to investors to other executives at Tesla for approval before sending it out.

Musk has been bitterly critical of the SEC since that settlement. At a TED conference earlier this year, Musk said he agreed to a settlement only because if he continued to fight the agency, Tesla's banks would have cut off funding at a time when it needed cash.

 

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Good for you if you’re still a Tesla fan individual. I sure as fornicate am not.  Especially now.

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Buying a used Tesla comes with some inherent risks.

A major one is that you can't count on being able to access all of the features the car was originally sold with, in an unfortunate side effect of the increasingly internet-connected vehicles that Tesla itself pioneered.

In the latest example, a motorist who bought a used 2013 Model S is now being forced to pay $4,500 to unlock the full range of the vehicle, according to a now-viral Twitter thread by Jason Hughes, the founder of unofficial Tesla service center 057 Technology.

I wonder what that fornicate stick Elon will do next. Make it so you need a subscription to turn the fornicating lights on at night.  

Edited by 47of74
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Where does Elon get his repulsive nature from?  Hmmmmm.....

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Elon Musk's father has claimed he was approached by an unnamed South American company to donate sperm to create more people like his son.

The 76-year-old told The Sun: "I've got a company in Colombia who want me to donate sperm to impregnate high-class Colombian women because they say, 'why go to Elon when they can go to the actual person who created Elon?'."

Errol Musk recently revealed he had a second child with his 35-year-old stepdaughter.

The father of the world's richest man has previously said "the only thing we are on Earth for is to reproduce" and that he would be keen to have more kids.

That third line turns my stomach. 

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Being a rich douche isn’t helping Elon

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The trends have shown up in one consumer survey and market research report after another: Tesla commands high brand awareness, consideration and loyalty, and customers are mostly delighted by its cars. Musk’s antics, on the other hand? They could do without.

Creative Strategies, a California-based customer-experience measurer, mentioned owner frustration with Musk in a study it published in April. A year earlier, research firm Escalent found Musk was the most negative aspect of the Tesla brand among electric-vehicle owners surveyed.

Jerry James Stone, a 48-year-old chef in Sacramento, California, who teaches his 219,000 YouTube channel subscribers how to make vegan and vegetarian meals, drives a Volkswagen Beetle convertible and plans to go electric with his next car. He isn’t sure yet which model, but certain it won’t be a Tesla.

“Elon has just soiled that brand for me so much that I don’t even think I would take one if I won one,” Stone says. “You have this guy who’s the richest dude in the world, who has this huge megaphone, and he uses it to call somebody a pedophile who’s not, or to fat-shame people, all these things that are just kind of gross.”

 

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Been seeing this lately when I call out GOP and Musk level wealthy bullshit

feefeeshurt.png.f47c2016b1adcf958d7e67b9942a0d97.png

I pretty much told Elon and Twitter than I'm gonna call out offensive GQP and billionaire behavior till the fucking cows come home and to shove it where the sun doesn't shine if they don't like my attitude.

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I wanted to post a photo of a band called Pain on Instagram the other day and they said that they can't show  me pictures with the hashtag  #pain because it leads to self-harming behavior and would I like to be directed to some support resources instead...

we are getting protected a lot but on the wrong things I think...

If I was French I couldn't post pictures of bread :P

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  • 2 weeks later...

I saw some comments in Zuckbook and Twitter that we should excuse Elon’s bullshit because he’s on the spectrum, autistic, and so on for his fanbeings. 

As someone who likely is neurodiverse that pisses me off. It never was an excuse for bad behavior when I was growing up.  I have family I think were on the spectrum who didn’t turn out that well cause their parents didn’t lay the fucking law down. (Didn’t help in one case the mother was a drug addict who never got her issues addressed).  I graduated from a goddamn law school even with all my issues. 

If Elon’s parents didn’t have the money they did he’d likely be homeless or in prison. But according to the fucking fanboys we’re supposed to excuse his bad behavior cause autism/spectrum/etc?  Nope.  These clowns can go fuck themselves.  

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  • 2 months later...

 

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  • 2 weeks later...

Elon broke it and bought it so it's all him now

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Twitter is a disaster clown car company that is successful despite itself, and there is no possible way to grow users and revenue without making a series of enormous compromises that will ultimately destroy your reputation and possibly cause grievous damage to your other companies.

I say this with utter confidence because the problems with Twitter are not engineering problems. They are political problems. Twitter, the company, makes very little interesting technology; the tech stack is not the valuable asset. The asset is the user base: hopelessly addicted politicians, reporters, celebrities, and other people who should know better but keep posting anyway. You! You, Elon Musk, are addicted to Twitter. You’re the asset. You just bought yourself for $44 billion dollars.

The problem when the asset is people is that people are intensely complicated, and trying to regulate how people behave is historically a miserable experience, especially when that authority is vested in a single powerful individual.

What I mean is that you are now the King of Twitter, and people think that you, personally, are responsible for everything that happens on Twitter now. It also turns out that absolute monarchs usually get murdered when shit goes sideways.

 

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I’ve seen a few reports that there will be a push for everyone with a blue check to pay a monthly fee.

 

I’ve seen a few reports that there will be a push for everyone with a blue check to pay a monthly fee.

 

Bean counter brain says oh look an attempted in an ad revenue base.  Also labeled as someone needs cash.

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I went through my Twitter this weekend, which I used more to post about 8 years ago, and more recently used to follow specific people for news - a local state politician who tweets a lot about local issues, and Disney bloggers because their posts relate to my job. I saved any pictures that I had on there that meant a lot to me, and then deactivated my account. I have zero interest in being on the Musk owned platform, but I acknowledge that me alone deactivating means nothing in the grand scheme of things. I do wonder if I'll feel less-informed when it comes to the local issues that I mostly saw from my state rep- I follow her on IG as well, but she definitely posted more frequently on Twitter.

I'm okay with it though- sometimes I feel like I should "know less" for my mental health.

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59 minutes ago, front hugs > duggs said:

I went through my Twitter this weekend, which I used more to post about 8 years ago, and more recently used to follow specific people for news - a local state politician who tweets a lot about local issues, and Disney bloggers because their posts relate to my job. I saved any pictures that I had on there that meant a lot to me, and then deactivated my account. I have zero interest in being on the Musk owned platform, but I acknowledge that me alone deactivating means nothing in the grand scheme of things. I do wonder if I'll feel less-informed when it comes to the local issues that I mostly saw from my state rep- I follow her on IG as well, but she definitely posted more frequently on Twitter.

I'm okay with it though- sometimes I feel like I should "know less" for my mental health.

I went off FB 7 years ago and my only regret is that I didn’t do it sooner.

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Elon fucked around and is now finding out

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Newly crowned Twitter boss Elon Musk is, as expected, finding out. Following a huge spike in hate speech on Twitter almost immediately after the deal was confirmed done, mass layoffs in departments including account moderation, and a disastrous plan to turn verification into a fake clout badge, advertisers have gone from concerned to, well, gone.

“Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists,” Musk tweeted Friday morning.

And of course he's being a fuck about the layoffs too

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A Twitter employee with a nine-month-old baby and another well on the way, at eight months pregnant, says she had her access to her company laptop unceremoniously cut off the day before workers were to be told if they were losing their jobs or not.

Rachel Bonn, former Twitter product marketing manager, posted a photo of herself very pregnant and holding her baby Thursday night as other employees also announced that they’d been locked out of the workspaces.

Being laid off is always awful, but particularly so for those who are about to expand their families. Bonn and others like her are unsure if their company health insurance will cover their imminent hospital bills.

Things may get even worse for Musk following the mass layoffs, guaranteed to not make advertisers feel better about where the platform is going, as a class action lawsuit has already been filed on behalf of Twitter workers residing in California. The state’s Worker Adjustment and Retraining Notification (WARN) Act requires employers with 75 or more employees to provide 60 days of notice before enacting a mass layoff.

 

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