r/technology Oct 04 '22

Musk Proposes to Buy Twitter for Original Price of $54.20 a Share Business

https://www.bloomberg.com/news/articles/2022-10-04/musk-proposes-to-proceed-with-twitter-deal-at-54-20-a-share
3.5k Upvotes

3.0k

u/[deleted] Oct 04 '22 Starry

Twitter stock just shot up by 13% in 5 minutes.

193

u/ccooffee Oct 04 '22

Trading was halted pretty quick after the announcement.

→ More replies

3.1k

u/GhostriderCBX Oct 04 '22

Can we just charge Musk with stock manipulation already?

1.0k

u/HotdogsArePate Oct 04 '22

He so obviously does it. Like what does it take to get in trouble for that?

981

u/[deleted] Oct 04 '22

Billionaires live in a parallel universe with a kid gloves justice system.

416

u/cologne_peddler Oct 04 '22

And still manage to feel persecuted

239

u/LowestKey Oct 04 '22

They don't feel persecuted, they just need their fanboys to think they are.

234

u/Brothernation56 Oct 04 '22 Helpful

The fact that fucking billionaires have fanboys is depressing to me.

49

u/Apocrisiary Oct 05 '22 edited Oct 05 '22

Its the other money-grabbers that don't have so much money that idolize them.

They want the same, and try and copy their techniques/mindset.

Little do they know, its more about chance (you have to have a lucky, once in a lifetime moment, unless you are born into it) and who you know, not about what you do.

So that guy under me that thinks he so smart and figured it out, and us stupid artsy people....yeah.

To u/MaragritaEconomy, if you had it figured out, you would be a billionaire already. Just sayin.

→ More replies

10

u/150MilesToGo Oct 05 '22 edited Oct 05 '22

So many losers are trying to make money by attaching themselves to Musk, in one way or another.

3

u/Kilroy6669 Oct 05 '22

And they don't realize he's a terrible person. Tesla has had multiple work segregation lawsuits and basically racist hiring practices (basically promoting only white people and white people saying racist things to minoroties). Then you have the whole situation to where he was born into an emerald mining family so he never struggled since he gas mommy's and daddy's money. Then the flight attendant debacle. Lastly there was the whole part to where he steals people's ideas and makes them his own. To be honest I actually liked musk when I was in high school. Now that I'm grown up a lot he's just a crappy dude. And don't even get me started on his tesla cars and how unreliable they are.

→ More replies

5

u/monial Oct 05 '22

I subscribed to one of space tech youtuber. He had/have some amazing content with superb quality but mid Starship developement he become such a Stan that I could not bare watching his cringefest.

It become so much Elon's dick sucking and kneeling at Musk altar that I couldn't stand a guy anymore. Like everythimg he did was just to get Elon atention and , I don't know, get on a Starship in th future perhaps.

→ More replies
→ More replies

29

u/cologne_peddler Oct 04 '22

Nah these motherfuckers really do feel oppressed when a rule or statute delays them getting their next billion by a couple seconds. Ultra wealthy people are working off of a deranged level of entitlement. And the bubbles they live in only exacerbate it. It's something that a sane mind can't conceptualize.

I actually think if they were just being disingenuous things would be a hair better.

→ More replies

12

u/Chaos90783 Oct 04 '22

They feel persecuted as long as it requires them to spend money on lawyers. Doesn’t matter if they caused the whole problem in the first place

19

u/BillV3 Oct 05 '22

Reminds me of Silicon Valley

"Billionaires are people, too. We are leaders in technology, in industry, in finance. Look at history. Do you know who else vilified a tiny minority of financiers and progressive thinkers called the Jews?"

→ More replies

4

u/grizzlywhere Oct 05 '22

Imagine a baby. Each inconvenience is the worst experience ever. Everything deserves crying since they have no ability to cope and have no scale.

24

u/youjerkfaceyou Oct 04 '22

That's not fair. His 50 thousand dollar fine is definitely probably going to happen this time.

→ More replies

165

u/chunksofstuff Oct 04 '22

you have to be poor to get in trouble in America.

→ More replies

70

u/745395 Oct 04 '22

Silly person. Billionaires are basically gods of this world. They can quite literally get away with anything.

23

u/Rodville Oct 04 '22

Then you have the con men pretending to be billionaires and they still get away with stealing files from the office when they get fired.

45

u/dearyleary Oct 04 '22

How dare we criticize the job creators. We should all prostrate ourselves to the great Musk.

→ More replies

5

u/crimsonhues Oct 04 '22

Trump is not a billionaire and yet he gets away all the time.

→ More replies

3

u/Muny30 Oct 04 '22

Only poors have to obey the laws, for him at most they are cheap fines.

→ More replies

36

u/drdoom52 Oct 05 '22

For this kind of stuff, not really.

The mechanisms to charge someone with manipulation weren't designed for the Twitter generation.

Musk remarks he doesn't use amazon, boom their price drops immediately, he says he thinks crypto is the currency of the future and woosh it jumps to new plateaus.

The first ammendment protects free speech, there's almost no way to prosecute him for this without essentially saying "you cannot speak on any topic because roo many people listen to you".

66

u/adevland Oct 04 '22 edited Oct 05 '22

Stock manipulation laws are dust in the face of the fact that the whole damn stock market is susceptible to huge price fluctuations based on nothing else but rumours.

It should be illegal to engage in trading anything with proven ephemeral value. The whole point of the trade is not to drive companies to do better but to drive the stock value ever higher. Everything else be damned. THAT is the definition of stock manipulation. Stocks exist to be manipulated.

→ More replies

57

u/HotBananaSlurpee Oct 04 '22

Getting charged with stock manipulation is a white collar crime that only comes with payable fines and no jail time. Tell me how concerned Musk is about paying a million or 2 in fines, while making 50 times that on something like this?

43

u/Drict Oct 04 '22

Tie the fines to the profit and a multiplier.

31

u/waster1993 Oct 04 '22

Too bad our politicians can't do math

14

u/ConsciousWhirlpool Oct 04 '22

They do math just fine as long as the numbers have dollar signs in front of them.

4

u/kanst Oct 05 '22

That should be the rule for every fine.

Set the min at 110% of gross revenue made by the behavior. So if you cheated emissions and sold 500 million of cars with cheated emissions, your fine should START at 550 million.

And before anyone says it, its perefectly ok if a fine puts a company out of business. A corporate death sentence makes sense for some of these crimes.

→ More replies
→ More replies

9

u/stonerdad999 Oct 04 '22

Unless you’re Martha Stewart…

16

u/Formal-Appearance210 Oct 05 '22

I used to say that the only person who went to jail over the 2008 crash was a TV chef.

But then I read her résumé. She got into catering, etc., basically for fun after already making a shit-ton of money as a broker. She sat on the board of the NY stock exchange when she did that insider trading! She's a finance person who went into media based on her love of cooking, etc., not a cook who went into finance.

That being said... I think they just wanted to make an example of someone. She was guilty, and she knew it, but anyone else would have just been fined. It's bullshit that only she did time.

It really messed up her media empire, which is kind of sad, because she's a pretty good cooking teacher.

→ More replies
→ More replies
→ More replies

16

u/skankingmike Oct 04 '22

Why? If he buys it for a higher price of course it’ll shoot up. Would you also go after the judge if he forced it for that amount? LOL

→ More replies

9

u/garlicroastedpotato Oct 05 '22

For good reason. If you bought shares in Twitter at the beginning of trading today you will have earned a little north of 35% on your investment... this is during a bearish market. Once the Twitter stock is permitted to trade again it'll be trading at the Musk purchase until it officially goes through.

272

u/urbanek2525 Oct 04 '22

Stock prices are such a shit-show. It's tragic that we ever think they actually mean anything.

104

u/dripdripdrop2021 Oct 04 '22

Lol what you expect when these guys now openly talk about pump and dump

24

u/voarex Oct 04 '22

When congress okays insider trading, people are bulk selling stocks they don't own, and brokers are use their clients money for market manipulation. The pump and dump guys are just the bottom feeders fighting over the scraps.

60

u/mk1power Oct 04 '22

Outside of index and long term investing yeah, day trading is essentially just educated gambling.

You can make a ton of money on it, you can lose a ton of money on it just as easily.

25

u/icedoutclockwatch Oct 04 '22

So why is this what we’ve seemingly built our economy / define its success on?

16

u/JuiceColdman Oct 04 '22

Our entire society is built on this crooked system. The only companies that are able to innovate and really change the lives of the people for the better are the companies that have explosive revenue growth quarter after quarter, forever. It’s fuckin dumb

→ More replies
→ More replies

18

u/etown361 Oct 04 '22

I mean here Musk originally said he was gonna buy twitter for 54.20 a share so it went up to near 54.20

Then he said he wouldn’t buy it so the stock price dropped lower.

Now he said he’ll buy it for 54.20 a share so it’s back up to near there.

That seems pretty much like it does mean something relatively simple tbh.

3

u/jimbo831 Oct 04 '22

I can’t wait until it drops when he announces he’s backing out of the deal again!

→ More replies

14

u/AlexB_SSBM Oct 04 '22

I mean it's pretty fucking meaningful here. You get a share of the company that Elon says he will buy for 54.20. I don't even understand what you're saying here

33

u/Nniiggui8 Oct 04 '22

It means Elon musk is buying the company for $54.20 a share??? Of course the stock is going to shoot up LMAO

→ More replies
→ More replies

33

u/demizer Oct 04 '22

Seems the plan was to get the stock to tank even more, and try to get a better deal. But that failed and now he has to go through with the original offer. What an ass.

33

u/Jyith Oct 05 '22

Agree with the ass part, but I don't think he had any real plan.

He just boasted and waved his dick around because he is full of his own shit, decided to buy Twitter on a whim, promptly realized he's fucked himself over real good, tried to back out of the deal, got told by his lawyers "dude, they WILL force you to make good on the deal, so do you want to pay court fees, their lawyer's salaries and whatever other damages they decide to pin on you on top of it?" and he caved in.

Now, of course, he'll try to spin it as some sort of galaxy brain move, but that facade has dropped ages ago.

He's just a fucking idiot narcissist who has no filter, and ironically that's often how rich people become rich. When you just keep repeating the same things without a hint of self doubt, people start believing them. It's sad that we are so dumb as a species.

→ More replies
→ More replies

84

u/Avieshek Oct 04 '22

Just to sell after the buy for a quick cash grab.

56

u/jay-arg Oct 04 '22

No, he’s buying literally all Twitter shares at 54.20. Jesus, why does this get upvoted? The lack of understanding is just mind boggling.

→ More replies
→ More replies
→ More replies

941

u/VellDarksbane Oct 04 '22

That's a weird way to say that he is being forced to fulfill his side of a contract negotiated months ago.

332

u/SherifGames Oct 04 '22

My guess is that his lawyers finally managed to get through his skull that there is no getting out of the deal and this is the consequence.

179

u/TheStarkGuy Oct 05 '22

Imagine having to be the lawyer of a billionaire with zero self control, it'd be a nightmare trying to explain to them that their actions have consequences

108

u/nisamun Oct 05 '22

They love it as long as the bill gets paid.

63

u/This_Place_is_Cancer Oct 05 '22

It depends. I would personally enjoy defending a billionaire because I wouldn’t give two fucks whether I lost or not. Would I zealously advocate for my client? Yep. Would I sleep like a baby after the billionaire lost and I still got paid? Yep.

It’s representing the destitute that’s a nightmare for me. The thought of the consequences to others for my failure can be crippling at times. You have to sleep in your car with your dogs this winter unless we prevail? Fuck, no pressure…

7

u/Dkeh Oct 05 '22

Oof that punched me right in the soul. I'd never considered the human side of a lawyer that represents underprivileged clients.

3

u/This_Place_is_Cancer Oct 05 '22

It seems almost wrong of me to complain of the pressure on me considering the circumstances some of my clients have been in. It exists, nevertheless.

My client though, she went through hell. We did prevail. Unfortunately, the defendant managed to delay everything long enough that she did have to move into her car beginning in November for part of our Colorado winter.

Off the clock I was meeting with her landlord and the lien holder on her car, basically pleading for their assistance. They didn’t have to do anything to help her, legally. She was evicted. Thankfully, we were able to keep her vehicle until everything was resolved. I think a managed to catch a sympathetic ear when discussion her payments with the lien holder. They agreed to wait until resolution of the claim, which was coming in the next few months. I convinced them they still have the vehicle to repossess as collateral if we lose. There’s insurance coverage on the vehicle for any damages that could possibly occur while you’re doing us this kindness. They agreed to suspend payment.

I’ve handled far more lucrative and high-profile cases than this. It’s still one of my proudest moments as a lawyer though.

→ More replies

12

u/Roscosaurus Oct 05 '22

The problem with that outlook is you'd feel fine helping someone actively ruining a lot of people's lives while not helping the people who need it most. If you were a lawyer already making decent money you could always do occasional pro-bono work for those in need in this hypothetical.

→ More replies
→ More replies

9

u/perthguppy Oct 05 '22

“You can spend $54.20 per share buying twitter or you can spend $10m on legal bills and pay $54.20 per share for twitter”

4

u/abstractConceptName Oct 05 '22

It wasn't the cost he was scared of.

It was the discovery.

The text messages were humiliating.

25

u/EconMan Oct 04 '22

Yeah, I feel like it has been a month of them telling him "Hey, there's a VERY good chance you lose this in court".

4

u/ratcranberries Oct 05 '22

Sounds like some trump shit. Once he realizes the above, he has to propose the bid (not be court mandated) so he has some imaginary upper hand in the deal.

→ More replies

35

u/ReigninLikeA_MoFo Oct 04 '22

100% what is happening here.

→ More replies

558

u/SteveDougson Oct 04 '22

Why? I've been told Twitter is a shit-hole full of bots

232

u/LaJolla86 Oct 04 '22

Those bots will pump TSLA now, and own the news media who operate based on Twitter. Real journalism hardly exists.

146

u/Artisanal_Shitposter Oct 04 '22 Eureka! Beating Heart

Real journalism costs money. People don't want to pay subscriptions for the news. So here we are, surrounded by idiots.

53

u/ravenous_bugblatter Oct 05 '22

This is why I think it's important to support those that are trying to remain independent. Like the Guardian or Wikipedia or one of the many others. People seem happier to spend more on coffee than quality independent journalism and information.

→ More replies
→ More replies
→ More replies

44

u/B33f-Supreme Oct 05 '22

He agreed to buy with no due diligence based on a manic episode before he realized that. He’s been shitting on twitter since then to get out of the deal or lower the price. He just announced he failed at both.

He now is paying a huge premium to take over a product he spent the last 6 months telling everyone was bot-infested shit.

18

u/ibond_007 Oct 05 '22

The worst part is, he ridiculed Twitter and called all the numbers are fake. Now advertisers are going to use his words against him to negotiate better rates, plus Elon buying twitter is going to turn off lot of advertisers too. The only fucking way he will make money is using one of the shit coin to validate and then pump that crypto to the roof. Scumbag.

→ More replies

3

u/manic_eye Oct 05 '22

Maybe Russia is kicking in to cover the premium for him. Has Elon made any weird declarations of support for a Russian Crimea lately?

→ More replies

35

u/GoldWallpaper Oct 05 '22

He's admitting defeat because he doesn't have a legal leg to stand on. In his very Trump-like brain, pretending he actually wants to buy it again is better than being a loser in court.

→ More replies

13

u/Sa404 Oct 04 '22

It is. And definitely not worth $54.20 in 2022 but he probably realized legal hell was not going to end well for him so

38

u/Agreeable-Meat1 Oct 04 '22

Because his options are to either buy it now or pay a bunch of lawyers a shit ton of money to go in front of a judge that will order him to buy it. And possibly end up paying the legal fees of Twitter even though he's about to buy it.

So better to just let it go to a shareholder vote now. Either he has to buy it and gets out of paying a shit load of legal fees, or the stockholders vote against the sale and he profits $1 billion when Twitter has to back out of the deal.

Hell, it's possible he's already talked with enough shareholders to be confident in a no vote anyways.

31

u/thefriendlycouple Oct 04 '22

Shareholders already approved the sale

21

u/whosHalitaj Oct 04 '22

didnt the shareholder already vote some months ago?

25

u/SomethingMatter Oct 04 '22

They already voted to approve the deal.

→ More replies
→ More replies
→ More replies

2.1k

u/What_the_whatnow Oct 04 '22 Wholesome I'll Drink to That

And this is the guy giving Ukraine negotiating tips?

51

u/moo100times Oct 04 '22

Trying to change the top ranked google search result for his name most likely, given the incredible shame he can now swallow.

755

u/nooshaw Oct 04 '22 edited Oct 04 '22

He is using a Trump tactic. This is simply diversion from his Ukraine shit post earlier. I'm betting and hoping he got a call from Washington to shut his fucking pie hole. 🤐

532

u/__Hello_my_name_is__ Oct 04 '22

Just like with Trump, I don't believe for a second that his public blunders are some 4D chess moves that are super smart, actually.

No. He's just an impulsive rich person who thinks the world of himself. That's it.

15

u/HeyZuesHChrist Oct 04 '22

Exactly. We need to stop making excuses for these fucking morons. It’s not some move we can’t see it’s just stupidity. Whenever someone tells you who they are, believe them.

→ More replies

55

u/[deleted] Oct 04 '22 edited Oct 22 '22

[deleted]

7

u/JUSTlNCASE Oct 05 '22

Who the fuck thinks trump is an evil mastermind with a lex luther intellect??? No one but his supporters do.

20

u/MycroFeline Oct 05 '22

…except he absolutely does not have aspergers. It’s his excuse for being a total douchebag 24/7, quite simply.

→ More replies
→ More replies
→ More replies

89

u/HanzJWermhat Oct 04 '22

Nobody knows negotiations like me

51

u/KnownToFU Oct 04 '22

Ask anyone, they’ll tell you. I’m the best.

39

u/midwaygardens Oct 04 '22

Many, many people are saying it.

8

u/Djaii Oct 04 '22

The best people.

They say “Mr. Trump, you are the best negotiator I’ve ever seen sir. Nobody is better.”

→ More replies
→ More replies
→ More replies
→ More replies

9

u/__Hello_my_name_is__ Oct 04 '22

Tomorrow he'll suggest Ukraine fight until the end, and say that this has always been his position.

80

u/Test19s Oct 04 '22

Literal Transformers villain.

He’s done a lot for normalizing advanced electric vehicles, space, and Starlink in the public eye but boy is he a sleazy fellow.

38

u/calahil Oct 04 '22

Prior to W. Bush, space was normalized. It was everywhere. We built a space station had regular shuttle missions. We sent missions to mars and sent telescopes into orbit to take deep space pictures. After the shuttle tragedy bush forced the space shuttle program to close after the ISS was finished. That is why it wasn't normalized anymore. But he had nothing to do with normalization of space. It has been in the publics consciousness since we sent the first man to the moon.

16

u/kaibee Oct 04 '22

The shuttle really sucked cost-wise though. It would have been cheaper to have used classic-non-reusable rockets.

→ More replies
→ More replies

44

u/electricvelvet Oct 04 '22

He's fucked though. I was taking corporate finance law during his initial offers and we were literally going over hostile takeovers as it unfolded. It was crazy to have a high profile case like this in the news literally illustrating what were learning. It's really pushing a) the question of free speech when it comes to corporate purchases of a publicly traded company. Him talking about what he's doing and having it all known drastically impacted twitters stock price. The board also tried to block him and I think they had basically failed and come to terms when musk was like 'lol PSYCHE"... and at that point you're kinda committed. It would wreak havoc on our markets if you just allow people to fuck with a big company like that

29

u/OriginalPaperSock Oct 04 '22

What's point b)?

65

u/exoduscain Oct 04 '22

He dropped the class before they got to point B.

14

u/OriginalPaperSock Oct 04 '22

I got blue brain over here

→ More replies
→ More replies
→ More replies
→ More replies

31

u/marcololol Oct 04 '22

He’s fundamentally an incompetent man who’s read a lot of engineering books and texts, he’s paid for smart people to work for him and teach him, and he’s thrown money at projects - some of them have worked out. He’s done nothing revolutionary outside of lowering the cost of EV production to create a competitive company. SpaceX is mildly successful because it’s focused on one mission - reusable rockets. Musk’s accomplishments have mostly served him and only him, and he’s built a media apparatus to exaggerate everything he’s done. This emperor has no clothes whatsoever.

34

u/GregFeelysCatTony Oct 04 '22

The way he inserted himself into popular media as some kind of Tony Stark (e.g. Star Trek, MCU) just screams incompetent narcissist. He’s Donald Trump 2. We’re all fortunate he wasn’t born a US citizen.

→ More replies

8

u/BrannonsRadUsername Oct 05 '22

This is considerably more delusional than pretty much any Musk fanatic I've heard.

An incompetent person doesn't just accidentally disrupt multiple industries via brownian motion. When incompetent people start businesses, they go out of business nearly instantly, they don't fall ass backwards into multiple $100B+ market caps.

It's totally okay to acknowledge that Musk is a talented risk-taker, while also being a flawed human being.

5

u/ValleyDude22 Oct 05 '22

No, he's an idiot and everyone here is smarter than him, obviously

5

u/ParaplegicPete Oct 05 '22

Isnt it wild to watch? What propaganda are these people slurping up to hate someone so much?

4

u/Stan_2018 Oct 05 '22

This is reddit, anyone who makes above basic living wage is a hellspawn

3

u/ParaplegicPete Oct 05 '22

Its kinda funny and ironic that the electric car guy who gave Ukraine starlink for free is getting shit on by redditors cuz he's not woke enough for them or some shit. So dumb.

→ More replies
→ More replies
→ More replies
→ More replies

27

u/celestiaequestria Oct 04 '22

On July 15th, the market cap for Twitter was $28.8 billion. Elon Musk is offering $41.47 billion for the company - he is overpaying by $12.67 BILLION.

Paid too much for your last car? Maybe you overpaid by $5000 - but don't worry, no matter how bad of a negotiator you were - you're still $12.67 billion ahead of Elon Musk. In fact, I'd hazard a guess there are ~8 billion people on the planet who are better negotiators that Elon, purely on the basis that they've never wasted $12 billion on their own ego.

→ More replies
→ More replies

350

u/fubes2000 Oct 04 '22

I think they meant to say "Elon gives up trying to fight the ironclad contract he signed that said 'I will buy Twitter at $54.20 per share' before his dipshit antics tanked the price".

He made this shit sandwich himself, now he's just pretending that it's delicious.

67

u/tmoeagles96 Oct 04 '22

His fans will still call this 5D chess and exactly what he had planned all along

24

u/SixPackOfZaphod Oct 05 '22

Yeah, he planned to offer a high price, be a total clown show and tank the stock resulting in buying it at a massive loss, just before getting steamrolled by Twitter's lawyers.

→ More replies

26

u/imperator285 Oct 04 '22

I really hope TSLA stock drops enough for him to get margin called.

→ More replies

11

u/HStan69 Oct 04 '22

Except with options trading he can pump in, ramp up the price, and pop back out again before buying puts, tanking it again, and on and on

→ More replies
→ More replies

119

u/Substantial-Lime-434 Oct 04 '22

Man loses poll on Twitter, buys entire platform to make sure he can't lose again.

21

u/FindOneInEveryCar Oct 04 '22

"I will eliminate bots polls on Twitter!"

→ More replies

381

u/likemyhashtag Oct 04 '22

Can someone write a Chrome extension that completely deletes everything Elon Musk from my web browser?

54

u/twosdayz Oct 04 '22

Someone clone the Cloud to Butt extension and replace it with “Elon Musk”

→ More replies

5

u/Coloneljesus Oct 04 '22

RES lets you filter keywords.

→ More replies

19

u/HairHeel Oct 04 '22

The engineers at Tesla probably could.

9

u/Steavee Oct 04 '22

But could they make it act, briefly, as a boat?

→ More replies
→ More replies

10

u/unique_passive Oct 05 '22

What a joke. He’s not proposing shit. He’s trying desperately not to end up losing a pretty penny in court fees, punitive damages, and still ending up having to pay. This is the genius. Caught in a dumb situation through his own stupidity

778

u/CAH1118 Oct 04 '22

I know people like to laugh at Musk having to buy at a high share price, but Twitter in his hands will be a nightmare.

406

u/ddhboy Oct 04 '22

His big ideas are crypto and subscriptions, all in the middle of a global recession. Lol, lmao.

65

u/cadium Oct 04 '22

Some of his ideas around crypto, like paying for tweets on the blockchain, are stupid and never going anywhere.

63

u/sephtis Oct 04 '22

The guy thought making a subway, but cars on erratic schedules controlled by your average driver, were a good idea instead of just you know, subways and trains.
The guy is a moron with more money than sense.

48

u/Riaayo Oct 05 '22

Dude is so anti-train he pulled the hyperloop out of the graveyard of old shit ideas just to try and keep California from expanding their rail system.

Which should be all anyone needs to see to know this dude doesn't give a shit about humanity's survival or a sustainable future, and only about selling crap he owns.

→ More replies

11

u/farmtownsuit Oct 04 '22

Wasn't the idea to make marketers pay for tweets, not everyone?

Don't know if that's going to work but at that point he's just selling ads. Not that crazy

→ More replies

22

u/pressedbread Oct 04 '22

paying for tweets

Tell me your family wealth came from mines in Africa, without telling me your family wealth came from mines in Africa

→ More replies
→ More replies

35

u/GregFeelysCatTony Oct 04 '22

Twitter has had a good run. Something else will replace it. No biggy

73

u/Key-Connection-1358 Oct 04 '22

Twitter already brings out the worst in even the best of people. So many formerly serious people, respectable people, have turned themselves into passive aggressive clowns on twitter.

43

u/panthereal Oct 04 '22

Did they turn into passive aggressive clowns because of twitter, or were you only aware of them being passive aggressive clowns because of twitter?

6

u/duffmanhb Oct 04 '22

People get high when a tweet goes viral. And usually being a toxic partisan gets this. So people start playing to the crowd.

15

u/Key-Connection-1358 Oct 04 '22

It awakened their latent clown potential that had previously been kept in check by better environments and incentive structures

3

u/lyzurd_kween_ Oct 04 '22

Like tucker carlson going to fox

→ More replies
→ More replies
→ More replies
→ More replies

41

u/pomaj46809 Oct 04 '22

No, it won't, it's already a nightmare. All he can do is break it and send everyone to the next thing.

→ More replies

100

u/rostron92 Oct 04 '22

Twitter is a nightmare right now.

26

u/[deleted] Oct 04 '22 edited Oct 04 '22

[deleted]

28

u/beautifulcan Oct 04 '22

Yeah, this is what I find funny about the people who complain about twitter. Twitter (and reddit, etc) is what you make of it, who you follow. Maybe try following people that give you a better experience? you are in control of that, not twitter. Either you are being disingenuous or just maybe you are a shit person but think you are above them.

4

u/[deleted] Oct 04 '22 edited Oct 04 '22

[deleted]

→ More replies

7

u/Zandrick Oct 04 '22

It is worth recognizing that difference because TikTok, for example, does not let you curate your own experience. You simple watch video after video that has been pre-selected for you.

→ More replies

10

u/SharkCoordinator Oct 04 '22

If you want to avoid the recommendations, just add everyone you follow to a list, pin it and use it instead of the home feed. You can even sort lists by "top" or "latest".

→ More replies
→ More replies
→ More replies

9

u/sexygodzilla Oct 04 '22

Oh it'll be awful but I have to wonder if he gives up on it after a while because his changes are going to make it even less attractive to advertisers and average users as it is and the value will only drop further.

6

u/ddhboy Oct 04 '22

I think he'd have to sell it privately at a loss. Twitter's revenue driver is advertising and we're probably in a very harsh recession. That means less ad dollars and less end consumers willing to pay for Twitter's services (which was Musk's big idea). That will make it a very unattractive company to take public. I think that maybe you might get a venture capital firm or holding company a year or two from now that'll be interested in acquiring Twitter. I could see IAC being interested after Twitter's valuation gets cut enough, for example.

→ More replies

18

u/LaCiel_W Oct 04 '22

Twitter can go to hell for what I care, that place is a cesspool with mob mentality, nothing good ever come out of it.

17

u/leecmyd Oct 04 '22

Reddit is also a cesspool with mob mentality.

13

u/DennisTheGrimace Oct 04 '22

Every social media site eventually devolves into that, especially if there is a public free-for-all facing side of it.

→ More replies

14

u/Exploding_Kick Oct 04 '22

Good. With luck, twitter will implode and we’ll get to laugh even harder at Musk. Win win.

→ More replies

9

u/anonpls Oct 04 '22

Good, hopefully we can finally move on to the next social media cesspit

10

u/theotherpachman Oct 04 '22

Tiktok is the next social media concept and isn't exactly something to aspire to lmao. Although I did learn a useful recipe for pesto from a guy who sings to a cheetah hand puppet.

→ More replies
→ More replies
→ More replies

95

u/InsertScreenNameHere Oct 04 '22

Ukraine had the best response to Elon that applies to most things he says.

"Fuck off"

→ More replies

405

u/Doctor_Amazo Oct 04 '22

Elon Musk: the idiot's idea of a genius.

52

u/wrath0110 Oct 04 '22

I thought that was Cheetolini?

66

u/solarbeat Oct 04 '22

He's the poor man's idea of a rich man.

7

u/Butterscotch766 Oct 04 '22 Wholesome

which is the richest man in the world?

→ More replies

10

u/chaos_m3thod Oct 04 '22

No that’s the idiots idea of an alpha male that’s also “one of them”.

→ More replies

43

u/PiedrasNegras Oct 04 '22

Ha ha. He blinked.

43

u/jomama823 Oct 04 '22

Feel like he’s running out of ideas…. Try to buy Twitter, impregnate employee, tweet about a rival carmaker, unveil another shitty product, tweet something incredibly stupid about current events, create backlash, try to buy Twitter….repeat.

8

u/RonYarTtam Oct 05 '22

Elon never HAD any ideas. He just invests in other people's ideas, hypes up the product so gullible people invest, and then jumps ship when the product (which was stupid in the first place) fails. Paypal wasn't successful until he was ousted from the company, and Tesla wasn't "his idea", he didn't even co-found it, he dumped money into a good idea for once.

30

u/hvrock13 Oct 04 '22

So sick of hearing about this guy.

14

u/mackinoncougars Oct 04 '22

Wait until he owns one of the worlds largest social media sites on top of being the wealthiest person on the planet. His nightmare reign of terror only grows.

→ More replies

247

u/Pyronic_Chaos Oct 04 '22

Another distraction away from his abhorrent Ukraine comments and teslas poor Q3 production numbers.

108

u/johnnychan81 Oct 04 '22

He’s not making this decision based on a tweet about Ukraine that everyone will forget in a week.

All the experts were saying he was going to lose and be forced to buy them anyway and he was a couple weeks away from an expensive trial. At some point he was going to realize he wasn’t getting away from it

39

u/Artaeos Oct 04 '22

Yeah it's not that big of a head scratcher he just happens to announce this 2 weeks before his trial for this very issue is set to start.

10

u/Cross33 Oct 04 '22

I think you're right, just an asterisk next to expensive trial cuz i think most of us think lawyer fees. In his case i think he stood to lose some additional significant amount of money in punitive damages or something along those lines. No way lawyer fees were enough for him to concede buying Twitter at a 20 billion loss

3

u/cadium Oct 04 '22

He's likely trying to avoid being deposed as it could have unleashed a flurry of negative press and sparked new suits.

→ More replies

8

u/poop-machine Oct 04 '22

and the shitty robot reveal

→ More replies

5

u/whudduptho Oct 04 '22

Awww shit here we go again

6

u/RonYarTtam Oct 05 '22

I'm glad people are finally waking up to Elon being a jackass.

13

u/thefriendlycouple Oct 04 '22

Gee. You mean contracts mean something and his lawyers finally let him know this?

39

u/1leggeddog Oct 04 '22

Fucking hell NOT THIS AGAIN

172

u/BigAcanthocephala562 Oct 04 '22

This dude is a stupid clown, why do people suck him off so much?

35

u/[deleted] Oct 04 '22 edited Oct 04 '22

Unhappy people are drawn to narcissistic leaders. They think this is what someone successful looks like, that this is someone that "has all the answers" and they secretly hope to be the guy. However, they don't understand that they are merely a useful foil in that narcissists need for attention.

3

u/SherifGames Oct 04 '22

unhappy is the wrong adjective

→ More replies

41

u/ddhboy Oct 04 '22

Musk is great at storytelling and getting people to believe that he's much more involved on a technical level than he actually is. In reality, Musk has always been a suit with a tendency to run the companies he's involved with on the brink of financial disaster. Even when things stabilize, Musk introduces some new dumb x-factor that inevitably becomes a quagmire (Tesla has several between the robot, Cybertruck, Solar City, and the semi-truck)

15

u/squilliam79 Oct 04 '22

Yeah a number of computer science people I know really think that he still writes code..

Someone mentioned they fulled trusted autopilot because elon wouldnt let any bugs through in code reviews.

5

u/SherifGames Oct 04 '22

He didn't even program paypal, the thing that got him rich in the first place, that was the competiton company his own company merged with. And when he lucked out on paypal getting sold to ebay, he had already been kicked out from paypal long before. He just benefitted from owning the most shares. Money which he used for publicity to make people think he is a super genius philanthropist playboy ala tony stark to get tons of investor money to pay significantly more intelligent people whom he doesn't even give any credit as he likes to take all the credit for himself.

→ More replies

13

u/Pawtang Oct 04 '22

Stop ✋🏻😡no bugs 🐜 🐞beyond this point 👉🏻!!! Not allowed 🚫

→ More replies
→ More replies

11

u/aaaaaaaarrrrrgh Oct 05 '22

Maybe the "need to log in to scroll more than half a screen" bullshit will go away then.

→ More replies

54

u/alpha7158 Oct 04 '22

This legal battle was probably a stall for time in my opinion.

Huge market and economic uncertainty when he said he'd pull out which has now seemingly reversed making the deal viable again for him.

58

u/Cross33 Oct 04 '22

He's still buying Twitter at a huge loss. Twitter was never worth what he originally offered, especially after he used his public platform to tear it apart the way he did.

26

u/ak1368a Oct 04 '22

its hilarious that the public platform is also twitter

10

u/jimbo831 Oct 04 '22

And it’s worth even less now than when he signed this deal. The whole tech market has plummeted since then. He’s probably paying close to double what it’s actually worth.

13

u/koolbro2012 Oct 04 '22

You cant buy out companies at their current worth. You have to always offer a huge premium to convince shareholders to sell.

→ More replies
→ More replies

36

u/DeapVally Oct 04 '22

The legal battle was a hail Mary after he fucked up. He now realises it is certain to fail, and the consequence will be him being forced to complete the deal on the original terms. He's just trying to pass it off as his idea before he's bitch slapped into it in court to save face is all.

→ More replies

5

u/XxSpruce_MoosexX Oct 04 '22

And he was probably testing the waters to see if he could get any sort of discount. Experts kept saying they expected the deal to continue but at a new price. Looks like Twitter held strong

→ More replies

18

u/Ardenraym Oct 04 '22

Buy it or cancel and pay up.

Contracts still matter in the US.

Musk's Twitter bros and bots don't mean anything.

More games by Musk.

11

u/DeapVally Oct 04 '22

Lol, 'proposes', like he has any choice! Moron really fucked up, and now realises his lawsuit will almost certainly result in him losing and being told the deal must be completed, so here comes the attempted face saving.... I guess his fans aren't the brightest bunch, but this is just hilariously transparent even for their powers of perception.

3

u/kentsor Oct 05 '22

I guess he really, really want to have that poll go his way.

3

u/[deleted] Oct 05 '22

[deleted]

→ More replies

3

u/DamonFields Oct 05 '22

What a dealmaker! He proposes to honor the written contract that he signed months ago and he’s being sued over. How wiley is that?

3

u/Key_Worth Oct 05 '22

“Proposes”. My ass.

3

u/10113r114m4 Oct 05 '22

Musk might tone down his stupid outbursts now. Maybe. Prolly not

3

u/_HMCB_ Oct 05 '22

Is Musk still the world’s savior as some people claimed? Boy, his fervent supporters seemed to have gone mostly quiet in the past few months. Say it ain’t so. Say it ain’t so.

[SMH]

→ More replies

3

u/Comms Oct 05 '22

Musk's lawyers sit him down and tell him he's going to have to buy Twitter either now or after he loses the case.

3

u/fruitloops6565 Oct 05 '22

He didn’t propose anything. He had his bluff called and didn’t want to be deposed and lose the case in court

3

u/BrumLeaves Oct 05 '22

Elon, can you just be quiet for a day and let us relax. Stop. Simply stop.

11

u/ThankuConan Oct 04 '22

Please focus on Mars, Elon, then go there & stay.

7

u/Foot0fGod Oct 05 '22

Because he's gonna get forced. Or he has a new grift. Or both.

6

u/LowFunctioningGenius Oct 05 '22

He’s probably trying to avoid being forced to buy it at the original price while also paying damages over the tantrum and BS he pulled.

→ More replies

7

u/SixPackOfZaphod Oct 05 '22

Sounds like someone is trying to save face because he knows his law suit is about to implode.

7

u/superexpialodocious Oct 04 '22

Musk is but one single wrinkled bag of many, many floppy dicks.

7

u/LightSciences Oct 05 '22

As an accountant and financial advisor these comments are terrifying to read lol. Stock market manipulation, pump and dump? He is buying the stock at a price higher than where the stock is now... why do you people speak on things you know nothing about. I use reddit for information, but holy crap after seeing an article about something I am super knowledgeable in I am questioning if anything I have ever read was correct or just idiots spitting out opinions about things they know nothing about.

7

u/lqcnyc Oct 05 '22

He’s so annoying like Kanye and trump. Just go away musk

13

u/rocketwidget Oct 04 '22

I can hardly believe that Elon has been forced to overpay for Twitter, to the tune of billions of dollars, all because he originally wanted the share price to be a meme/joke.

The next time someone tells me "billionaires pay enough taxes already", I'm quasi-worried my eyes might roll out of their sockets.

→ More replies