Elon Musk Buys Twitter

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At the end of April, Musk used Tesla shares as collateral for a $12.5 billion loan that was part of his scheme to finance his bid on Twitter. The price of Tesla shares has dropped 29% since then. In May, in two steps, he canceled that particular loan, subsequently raising the cash part of his $44 million bid to $33.5 billion. Even after finding additional backers for his bid, he was still left with a $8.4 billion financing gap. Due in part to falling share prices for Tesla, Musk's personal capital is ± $40 billion less than when he made his bid in April, that's close to his initial bid for Twitter.
A potted history of all this - with some interesting links - can be found on the Dutch Financiële Dagblad site, dated June 7 - behind a paywall. PM me for the article.
 
www.telegraph.co.uk

Musk’s debt-fuelled Twitter deal is already coming apart at the seams

Musk has allowed ego and bravado to get in the way of old-fashioned common sense
www.telegraph.co.uk www.telegraph.co.uk

www.wsj.com

First Week of Elon Musk’s Twitter Was Chaos and Confusion for Employees

Inside Twitter Inc. in the week after Elon Musk took it over, almost no one seemed to know for sure what was going on.
www.wsj.com www.wsj.com

www.bbc.com

Twitter staff say layoffs have started after Elon Musk takeover

Employees are saying on social media they have lost their jobs ahead of an announcement by the company.
www.bbc.com www.bbc.com


www.bbc.com

Twitter: Musk defends deep cuts to company's workforce

Twitter is firing half its staff, which new owner Elon Musk blamed on a "massive drop in revenue".
www.bbc.com www.bbc.com

www.bbc.com

Twitter UK staff get deadline over cuts consultation

Hundreds affected by Twitter's worldwide job cuts have three days to elect a representative.
www.bbc.com www.bbc.com

www.rte.ie

Enterprise department not notified of Twitter layoffs

The Department of Enterprise has confirmed that Tánaiste and Minister for Enterprise Leo Varadkar has not yet received a collective redundancy notification from Twitter.
www.rte.ie www.rte.ie

www.rte.ie

Twitter begins laying off Irish staff via email

Twitter has begun laying off members of its Irish workforce with staff in the Dublin office who are losing their jobs starting to receive emails this morning telling them that they were being made redundant.
www.rte.ie www.rte.ie
 
I don't understand the basis for arguing Elon's actions are "an attack on free speech". I believe what Elon is doing is good for the internet, there are too many social arenas (e.g. Reddit) where there is heavy moderation based on what side of the aisle you are on.
 
The old saying, 'The road to Hell is paved with good intentions', still applies though.
 
I find Elon to be the usual billionaire svengali type. Unsure if he is the messianic tier genius some make him out to be. What he has done to the private space industry though has been pretty incredible. In the case of twitter I support him with the buyout.

Upsetting all the right people in my opinion. I do find it amusing the kind of people saying this is all an attack on free speech. Also find the combined wrath of major private and government interests to be very alarming especially with the latest news confirming the inappropriately close ties to social media companies and multiple government bureaus (DHS, FBI, etc...).
 
More haste, less speed. Employees fired on Friday asked to return on Monday. Pretty please.
www.bnnbloomberg.ca

BNN Bloomberg – Canada Business News, TSX Today and Interest Rates

Get the latest Canadian business news, TSX updates, interest rates and Bank of Canada coverage. Explore stock market investing and get expert financial insights on investment portfolio strategies.
www.bnnbloomberg.ca www.bnnbloomberg.ca
 
This is pathetic. Then again, Twitter is complete sh*t, so maybe they deserve Musk. I mean, if Musk can sabotage Twitter like Zuckerberg is presently ruining Facebook with the Meta absolute and ugly idiocy - then I say: why not ?
Social networks are a plague. The less, the better.
*Useful idiots*
Plus if this re-inject some $ dozen of billions out of their pockets and back into the economy (and eventually, the IRS) - can't do any bad either.
Didn't Zuckerberg lost 2/3rd of his fortune over the Meta bloodbath ?
 
finance.yahoo.com

Elon Musk Walks Back on Twitter Job Cuts, Blue Checks in Second Week

(Bloomberg) -- Twitter Inc. is heading into its second full workweek under Elon Musk with half its workforce, mounting losses and a couple of unexpected reversals to its plans.Most Read from BloombergTwitter Now Asks Some Fired Workers to Please Come BackElon Musk Tells Twitter Followers to Vote...
finance.yahoo.com finance.yahoo.com

apnews.com

Musk threatens to boot Twitter account impersonators

BOSTON (AP) — Elon Musk tweeted Sunday that Twitter will permanently suspend any account on the social media platform that impersonates another. The platform's new owner issued the warning after some celebrities changed their Twitter display names — not their account names — and tweeted as...
apnews.com apnews.com
 
www.rte.ie

Number of redundancies at Twitter unknown - English

Minister of State for Employment Damien English has said the Government has not been told by Twitter how many people the company will make redundant in its Irish operation.
www.rte.ie www.rte.ie

www.independent.ie

Fears for more Irish tech jobs at Facebook parent Meta as Taoiseach says ‘don’t panic’ and Twitter says it will obey Irish redundancy laws

Fears are growing for more Irish tech jobs with reports that Facebook’s parent company, Meta, is planning to embark on a major round of job cuts in the coming days.
www.independent.ie www.independent.ie

www.rte.ie

Agencies to intensify engagement with tech companies

The Tánaiste Leo Varadkar has said the Government has asked the IDA and Enterprise Ireland to intensify their engagement with tech employers.
www.rte.ie www.rte.ie
 
www.telegraph.co.uk

We are witnessing the start of a gigantic schism between China and the West

Doing business with Beijing is fraught with financial, commercial and reputational risk
www.telegraph.co.uk www.telegraph.co.uk
Western intelligence agencies are also worried that Tesla’s presence in China has made Elon Musk too dependent on Beijing's good graces at the precise moment that he takes over the world’s biggest information platform with a promise to be a dedicated custodian of free speech.
Click to expand...
 
Isn't this the first time Elon buy a large company? Wouldn't that be a new role for him?
 
finance.yahoo.com

Musk warns of Twitter bankruptcy as more senior executives quit

(Reuters) -Twitter Inc's new owner Elon Musk on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a U.S. privacy regulator and the exit of the company's trust and safety leader. The billionaire on his first mass call...
finance.yahoo.com finance.yahoo.com

news.yahoo.com

Twitter chaos deepens as key executives quit

Elon Musk's ownership of Twitter descended ever deeper into chaos on Thursday as key security executives resigned from the platform, drawing a sharp warning from US regulators.
news.yahoo.com news.yahoo.com

variety.com

Mark Cuban Slams Elon Musk: Letting Anyone Get Verified ‘Killed the Most Valuable Part of Twitter’

Mark Cuban says Elon Musk's verification plan, which allows anyone to purchase a blue check mark, 'killed the most valuable part of Twitter.'
variety.com variety.com
 
1635yankee said:
It's interesting how quickly this "freedom of speech absolutist" took so little time in suppressing content making fun of him.
Click to expand...

When? You mean when Twitter enforced the "no pretending to be someone else " rule they've had on the books for years?
 
When he
Orionblamblam said:
1635yankee said:
It's interesting how quickly this "freedom of speech absolutist" took so little time in suppressing content making fun of him.
Click to expand...

When? You mean when Twitter enforced the "no pretending to be someone else " rule they've had on the books for years?
Click to expand...
While simultaneously ignoring other violations of rules they've had on the books for years?
 
1635yankee said:
While simultaneously ignoring other violations of rules they've had on the books for years?
Click to expand...

Maybe. But if you don't want to get booted for rules violations, maybe it'd be a good idea to not direct your rules-violations *directly* at the guy in charge. Make a parody account mocking some random nobody without saying it's a parody account? People may well not notice. Direct it at the richest man around? Yeah, that's dumb.

For example: if I call you a Bad Name here, the moderators might get snippy if they even notice. If I call Overscan a Bad Name... they *will* notice.
 
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Orionblamblam said:
1635yankee said:
While simultaneously ignoring other violations of rules they've had on the books for years?
Click to expand...

Maybe. But if you don't want to get booted for rules violations, maybe it'd be a good idea to not direct your rules-violations *directly* at the guy in charge. Make a parody account mocking some random nobody without saying it's a parody account? People may well not notice. Direct it at the richest man around? Yeah, that's dumb.

For example: if I can you a Bad Name here, the moderators might get snippy if they even notice. If I can Overscan a Bad Name... they *will* notice.
Click to expand...
Who's Overscan...? ;)
 
overscan (PaulMM) said:
I'm Overscan and so is my wife
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Unless you're an undeclared parody account...

futurama-serious.gif
 
Here a screenshot from a false verified and now deleted twitter account "@LockheedMartini".o_O:D
 

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That willl be the SMERSH chapter, perhaps get Blonde out of retirement....
 
Some people are arguing that Musk is massively mismanaging his new toy. On one hand, it does kinda look that way. On the other hand, it can hardly be argued that Twitter hasn't been a net detriment to mankind, as recent events have shown. Two whole generations, Millenials and Gen Z, have been corrupted and to large degrees turned into whackadoodle idjits by Twitter and similar platforms. So maybe he's falling on a financial sword, and using his billions to rid mankind of a platform that has spread and promoted madness.

If there are future generations, and if those generations return to building and constructing rather than tearing down, perhaps they will build statues to Musk for how he helped save civilization from "influencers."

ive_won.png
 
It's starting to look like Twitter was never viable as 4 million losses per day is unsustainable as was the surprisingly 'kept' employees living lives of unproductive luxury.

It's been sustained for political reasons by certain big companies and has had a.....unhealthy relationship with the US Government.....which explains much.
My theory....
As Musk gained insight into what might be lurking behind the veil, so he tried to back out. Who would want to get tangled into the dark corners of Government manipulating media and corporate 'influences'.

But I can see the attraction, to pulling on this thread until the whole tapestry of incestuous relationships are exposed and collapsed.

I've only really looked at a very few posters on Twitter and never bothered with joining it....and that was before it became highly censorious and partisan. Mostly forced because they stopped blogging or posting articles in online media.
 
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