Twitter

[caja-dglh]

He might not have any facts or the law on his side, but they still should have known that he might try if he couldn’t come up with the money.

But if he can’t come up with the money but has to buy it anyway, then wouldn’t that just saddle the company with debt?

Can he just pay a billion to walk away? Could he get a partner?

you cannot agree to buy a company in the way Elon did and try to back out without having your ass handed to you. Sure - it is very funny online and you are the richest man on earth, but - I you gone fucked up. His lawyers (ordered by him) launched a pretty unconditional acquisition of twitter.

he can only pay the $1bn to walk if he meets requirements of not performing requirements - I see near zero chance he would win on the this. That is the Delaware case (if he meets requirements corporate law in the US will be a very lucrative disastrous mess). There isn’t any way that his Delaware case ends up without being (a) massive settlement and termination - like $15bn (b) lower price, still paydirt for twitter or (c) OG terms.

he has proven secured financing. I am sure the financiers would love out. It simply isn’t that simple and they are on the hook. How levered that is on Tesla doesn’t really matter.

hie best case is a reduced price. I would hold out for full price myself - it would be such a failing of Delaware and US company law to reach that conclusion that I don’t see happening.

[ursus arctos]

What dglh said

Though I would be more inclined to settle. The company has enough issues without this nonsense.

I'm also quite sure that Twitter would have been subject to a flood of shareholder suits for breach of fiduciary duty if they turned down Musk's formal and financed offer just because he is a putz.

[Hot Pepsi]

Ok, so if he buys it and can’t afford to keep it, then what?

[ursus arctos]

He sells it
Even with Tesla tanking, 44 billion is a fraction of his net worth

Dorsey wasn't fundong the company personally

[Hot Pepsi]

What is it really worth if he puts it on the market?

[ursus arctos]

It was trading for USD 32.5 billion as of yesterday.

Buyers normally pay a premium for control, especially in going private scenarios.

[Hot Pepsi]

Of course.

Still. $32bn for something that is designed to sow unrest and unhappiness is upsetting.

[ursus arctos]

Meta's market cap is USD 450 billion

[Hot Pepsi]

I try not to think about that.

[ursus arctos]

Same

[Hot Pepsi]

Googling “the metaverse is bullshit” yields a lot of results.

The way William Gibson described cyberspace in Neuromancer, it had to be a fully immersive simulation because that was the easiest way to navigate all of the endless data it contained.

There may be something to that. Somebody trying to operate a very complicated machine like a jet fighter or nuclear power plant might benefit from an AR/VR interface.

But we don’t need that for most applications and I don’t think the complete artificial universe like in Ready Player One is really what people want either, although if we continue to destroy the real world, maybe they will.

Otherwise, it turns out that text is more than sufficient for most communication. We don’t need to see each other in 2D, let alone 3D, nearly as often as sci-fi once imagined.

It also turns out that we don’t need a fully immersive experience to get sucked in to the machine. I don’t think Gibson et al could have predicted that something as dumb as twitter could become so addictive and distracting.

[ursus arctos]

https://twitter.com/mmasnick/status/1577336239581167617?s=61&t=13f4uXK1PZHzPDgEAPnNpQ

[caja-dglh]

I guess he got bored making it cost him more money.

[ursus arctos]

There are going to be some serious parties at Skadden and Quinn Emmanuel

[WOM]

So, Musk owns it now and the first 24 hours have apparently been a bloodbath of leadership whackings. Here's hoping he craters the whole thing and something better rises from the ashes, or the vacuum its demise creates.

[ursus arctos]

There is a great deal of anticipation that Trump will be reinstated before the midterms (and shortly in advance of his formal announcement of his 2024 candidacy).

That will be fun.

[delicatemoth]

So, Musk owns it now and the first 24 hours have apparently been a bloodbath of leadership whackings. Here's hoping he craters the whole thing and something better rises from the ashes, or the vacuum its demise creates.

Terrible as it is in some ways, it is also an excellent source of information and making connections, and I would be pretty lost without it. That is in itself a bad thing, but it is nonetheless true.

People are going "the fascists will come back" as if they ever went away, which I find quite puzzling.

[WOM]

My fear is that Musk is such a disruption fetishist, he'll think it's great laughs that Trump is back spewing continuous stream of racist lies, and if democracy has to burn to the ground to protect 'free speech', oh well.

[delicatemoth]

Yep, that's true. It was a terrible thing to let Twitter become so important to marginalised people at the same time as being used as a tool to oppress them. In the '00s I used sources under the Indymedia umbrella quite often but a big issue with the left publish-o-sphere is the large portion of it who are Syria/Ukraine truthers.

Musk is gonna lose money, and a lot of it, if/when he allows even more racism and other hate. Advertisers, even conservative ones, don't tend to be keen on it.

[Moonlight Shadow]

Not been on it for ages with my user ID, got another one just to read what's posted here and quite frankly I feel better for it...

[Guy Profumo]

Yep, that's true. It was a terrible thing to let Twitter become so important to marginalised people at the same time as being used as a tool to oppress them. In the '00s I used sources under the Indymedia umbrella quite often but a big issue with the left publish-o-sphere is the large portion of it who are Syria/Ukraine truthers.

Musk is gonna lose money, and a lot of it, if/when he allows even more racism and other hate. Advertisers, even conservative ones, don't tend to be keen on it.

Especially when the EU remind him of the legislation they have in place, and his obligations to what is broadcast

[Hot Pepsi]

I hope it craters. It's just a terrible platform. It's like being in a room where hundreds of people are all shouting at the same time.

I hope to delete my account. We're told we need to be tweeting to drive traffic to our site but I see zero evidence that twitter is any good for that. I have more than a thousand followers, I think, but I see no evidence that any of them read anything I tweet. Linkedin seems to be better as far as that goes, but not by much.

Even among a lot of the people I generally agree with, it seems to just be making them angrier and despondent or, in some cases, more self-righteous and kinda obnoxious.

[delicatemoth]

Well, go and look at my latest post on the trans thread and tell me where I might be able to find this information if Twitter didn't exist. "Oh but it's terrible." So is the mainstream media. At least on Twitter I can find trans voices, Puerto Rican voices, Aotearoa voices, anarchist voices, peasant voices, Iranian voices, science voices, music voices etc. etc. that aren't corporate mouthpieces.

it seems to just be making them angrier and despondent

No, that would be the rising tide of fascism, which the gross aspects of Twitter are a symptom of.

[Sean of the Shed]

https://twitter.com/Mistyswoman/status/1585981250900496384?t=PrQrHh65V2J-jej8F4ZDbg&s=19

[Hot Pepsi]

Well, go and look at my latest post on the trans thread and tell me where I might be able to find this information if Twitter didn't exist. "Oh but it's terrible." So is the mainstream media. At least on Twitter I can find trans voices, Puerto Rican voices, Aotearoa voices, anarchist voices, peasant voices, Iranian voices, science voices, music voices etc. etc. that aren't corporate mouthpieces.



No, that would be the rising tide of fascism, which the gross aspects of Twitter are a symptom of.

It isn't just the rising tide of fascism, although that is part of it. The algorithm and the format is designed to make you anxious, scared and impatient and that is contributing to the rising tide of fascism.

If you find it useful that way, then fine, but we had internet boards before twitter that did that too in a much easier to read and understand format. And there has always been left-wing media available online.

But now so much of that activity has migrated to twitter and is now under the control of an uberdouche who will throw it wide open to the worst of the worst. And soon the "gross aspects of Twitter" will completely dominate the platform like they do every other unmoderated platform.

https://www.theatlantic.com/family/a...trolls/627084/

Do you want to support, even indirectly, a company that is working so hard to spread disinformation that is destroying the world? I don't. Although I'm a hypocrite because I have Instagram. I'll have to think about that.

https://newrepublic.com/article/1683...h-ruin-america