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Twitter, Musk has settled and will buy for 44 Billion.

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  • Twitter, Musk has settled and will buy for 44 Billion.

    Musk is once again headed down the path of buying Twitter.

    Liberals, who until recently, had been talking about how businesses can't violate free speech. They said a company is free to pick and choose what voices they amplify and suppress, (etc. etc.).

    These same liberals, are now panicking about how Musk is going to use twitter to amplify voices, and suppress speech he doesn't like.


  • #2
    Originally posted by CivilDiscourse View Post
    Musk is once again headed down the path of buying Twitter.

    Liberals, who until recently, had been talking about how businesses can't violate free speech. They said a company is free to pick and choose what voices they amplify and suppress, (etc. etc.).

    These same liberals, are now panicking about how Musk is going to use twitter to amplify voices, and suppress speech he doesn't like.
    $44 Billion

    The way I've seen it covered, Musk was forced to honor his original offer

    Source: Musk’s Losses in Twitter Court Fight Presaged His Surrender



    Elon Musk dropped his bid to walk away from a $44 billion buyout of Twitter Inc. after losing a series of pre-trial rulings that may have foreshadowed difficulties in making his case in court.

    Musk, the world’s richest person, on Tuesday proposed carrying out his original plan to buy Twitter for $54.20 per share just days before he was scheduled to argue to a judge that executives of the social-media platform misled him about the number of spam and robot accounts embedded in the company’s more than 230-million user base.

    That decision may have been influenced by almost a half-dozen rulings by Delaware Chancery Judge Kathaleen St. J. McCormick over the last three months that went Twitter’s way and frustrated Musk’s efforts to show he had legitimate grounds to cancel the deal.

    “It was pretty clear from her rulings the judge was laser-focused on the agreement and not the stuff Musk wanted to talk about,” said Brian Quinn, a Boston College law professor who focuses on merger-and-acquisition disputes. “His grand theory involving the bots didn’t seem to be gaining any traction with her.”

    To be sure, the judge ruled for Musk on some issues, including letting him try to bolster his case for abandoning the buyout with allegations by Twitter whistle-blower Peiter Zatko about lax computer security and a lack of interest by the company in the bots issue.

    But McCormick also came down hard on the Musk team’s mishandling of pre-trial information exchanges common in corporate litigation. In a September ruling, she slammed the billionaire for not turning over copies of text messages for himself and top aide Jared Birchall. The judge said there were “glaring deficiencies” in how the Tesla CEO and his lawyers responded to Twitter’s demands for relevant text messages and sloppiness in adhering to deadlines.

    Here are some other rulings Musk lost:

    • A week after Twitter sued Musk in July, McCormick rebuffed the billionaire’s request for a February trial and set the case to be tried before her Oct. 17. She also lined up behind Twitter’s insistence on scheduling five court days to present testimony.
    • In August, McCormick ordered Musk to hand over files about potential investors in a $7 billion equity raise as part of the deal. Musk complained Twitter was overreaching, arguing they’d gotten sufficient data on actual investors. McCormick also granted Twitter’s request to make Musk identify people “with knowledge of or involvement in key issues and events” in the deal, over his lawyers’ protests.
    • In late September, the judge denied Musk’s demand for additional documents about Twitter’s internal measure of robot and spam accounts after concluding the company already disclosed enough of the information.
    • Just before the public learned about the billionaire’s decision to give up his legal fight to nix the buyout, McCormick allowed Twitter to expand its hunt for evidence that Musk and his lawyers were in contact with whistle-blower Zatko before his allegations became public. She ordered the Musk side to widen its searches of internal files to include texts, instant messages and encrypted emails.
    The case is Twitter v. Musk, 22-0613, Delaware Chancery Court (Wilmington).


    Source

    © Copyright Original Source




    The WSJ puts it this way: In Twitter, Musk Buys the Walking Dead: Amid online ad market turmoil and legal drama, Elon Musk’s path to reviving Twitter is uncertain




    I'm always still in trouble again

    "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
    "Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
    "Of course, human life begins at fertilization that’s not the argument." --Tassman

    Comment


    • #3
      [QUOTE=rogue06;n1418878]
      $44 Billion


      My mistake. (Morning posts...)

      Comment


      • #4
        It is worth it to see leftists heads explode...
        Atheism is the cult of death, the death of hope. The universe is doomed, you are doomed, the only thing that remains is to await your execution...

        https://www.youtube.com/watch?v=Jbnueb2OI4o&t=3s

        Comment


        • #5
          Originally posted by rogue06 View Post

          The WSJ puts it this way: In Twitter, Musk Buys the Walking Dead: Amid online ad market turmoil and legal drama, Elon Musk’s path to reviving Twitter is uncertain
          Frankly, I think he'd have been better off walking away and paying the penalties. He'd still have legal exposure for materially damaging the company, but a whole lot less than the billions he's already lost in value even before factoring in the headaches. I've read some of his proposals, like getting rid of ad revenue, and they're just whack. He's never going to make it pay for itself with subscription services.

          This is painful for me. I love his starships. But he's built everything on a house of cards. I can't make the arithmetic work on the starlink service he's hoping to use to pay for his space ships. His low earth satellite service simply can't compete with ground-based where the real customers are, near the major cities. The constellations simply won't have the bandwidth. Customers outside the major cities require government assistance to foot the bills, and those governments aren't going to pay for it longer than it takes to drag cables out to the boonies. And low-earth orbit means the constellation will require continuous replacement as the orbits decay.

          Everything I've read says his billion-dollar enterprises are all run by the seat of his pants, with no meaningful oversight from a board.

          This will not end well.

          Comment


          • #6
            Originally posted by CivilDiscourse View Post
            My mistake. (Morning posts...)
            Fixed it. No worries.

            I'm always still in trouble again

            "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
            "Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
            "Of course, human life begins at fertilization that’s not the argument." --Tassman

            Comment


            • #7
              Originally posted by Juvenal View Post

              Frankly, I think he'd have been better off walking away and paying the penalties. He'd still have legal exposure for materially damaging the company, but a whole lot less than the billions he's already lost in value even before factoring in the headaches. I've read some of his proposals, like getting rid of ad revenue, and they're just whack. He's never going to make it pay for itself with subscription services.

              This is painful for me. I love his starships. But he's built everything on a house of cards. I can't make the arithmetic work on the starlink service he's hoping to use to pay for his space ships. His low earth satellite service simply can't compete with ground-based where the real customers are, near the major cities. The constellations simply won't have the bandwidth. Customers outside the major cities require government assistance to foot the bills, and those governments aren't going to pay for it longer than it takes to drag cables out to the boonies. And low-earth orbit means the constellation will require continuous replacement as the orbits decay.

              Everything I've read says his billion-dollar enterprises are all run by the seat of his pants, with no meaningful oversight from a board.

              This will not end well.

              what ever happened with his Boring company?

              Comment


              • #8
                Originally posted by Sparko View Post
                what ever happened with his Boring company?
                For some reason, nobody's paying attention to it anymore.

                Comment


                • #9
                  Originally posted by Juvenal View Post

                  Frankly, I think he'd have been better off walking away and paying the penalties. He'd still have legal exposure for materially damaging the company, but a whole lot less than the billions he's already lost in value even before factoring in the headaches. I've read some of his proposals, like getting rid of ad revenue, and they're just whack. He's never going to make it pay for itself with subscription services.

                  This is painful for me. I love his starships. But he's built everything on a house of cards. I can't make the arithmetic work on the starlink service he's hoping to use to pay for his space ships. His low earth satellite service simply can't compete with ground-based where the real customers are, near the major cities. The constellations simply won't have the bandwidth. Customers outside the major cities require government assistance to foot the bills, and those governments aren't going to pay for it longer than it takes to drag cables out to the boonies. And low-earth orbit means the constellation will require continuous replacement as the orbits decay.

                  Everything I've read says his billion-dollar enterprises are all run by the seat of his pants, with no meaningful oversight from a board.

                  This will not end well.
                  The thing is, even with ad revenue artificially inflated by fake accounts, Twitter is simply not bringing in enough money to maintain the service they are providing, meaning they have money coming in from somewhere else. Best guess is that they are being quietly subsidized by the federal government. I have a feeling that Musk will be unwilling to agree to their terms, meaning he will need to find another avenue of funding to keep Twitter operational, or, perhaps, significantly scale back the service until it becomes profitable.
                  Some may call me foolish, and some may call me odd
                  But I'd rather be a fool in the eyes of man
                  Than a fool in the eyes of God


                  From "Fools Gold" by Petra

                  Comment


                  • #10
                    A textbook example of irony:

                    Twitter employees draft a letter to Musk demanding that he treat them fairly and not discriminate based on anybody's political beliefs.

                    https://theconservativetreehouse.com...tical-beliefs/

                    Some may call me foolish, and some may call me odd
                    But I'd rather be a fool in the eyes of man
                    Than a fool in the eyes of God


                    From "Fools Gold" by Petra

                    Comment


                    • #11
                      Originally posted by mountain man View Post
                      a textbook example of irony:

                      Twitter employees draft a letter to musk demanding that he treat them fairly and not discriminate based on anybody's political beliefs.

                      https://theconservativetreehouse.com...tical-beliefs/

                      lol

                      Comment


                      • #12
                        Originally posted by Mountain Man View Post
                        A textbook example of irony:

                        Twitter employees draft a letter to Musk demanding that he treat them fairly and not discriminate based on anybody's political beliefs.

                        https://theconservativetreehouse.com...tical-beliefs/

                        I remember a number of forum conversations where the prevailing attitude about discrimination based on political beliefs could be summed up as follows:

                        "Things like race and such are immutable qualities that can't be changed, it's wrong to discriminate since a person has no control over. Political beliefs are chosen, and therefore are fair game"

                        Comment


                        • #13
                          a2fd9a88-f6f1-4bad-83de-b1c352ee99c1.jpg

                          I'm always still in trouble again

                          "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
                          "Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
                          "Of course, human life begins at fertilization that’s not the argument." --Tassman

                          Comment


                          • #14
                            There's video of Musk walking into Twitter HQ carrying a white bathroom sink. I'm not sure what that's supposed to signify.
                            Some may call me foolish, and some may call me odd
                            But I'd rather be a fool in the eyes of man
                            Than a fool in the eyes of God


                            From "Fools Gold" by Petra

                            Comment


                            • #15
                              Originally posted by Mountain Man View Post
                              There's video of Musk walking into Twitter HQ carrying a white bathroom sink. I'm not sure what that's supposed to signify.
                              It's a pun.

                              "Let that sink in".

                              Comment

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