Author Topic: Elon Musk Offers to Buy Twitter 100% in cash  (Read 21000 times)

Palumboism

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #175 on: July 08, 2022, 05:04:50 PM »

Elon Musk Bails On Twitter Deal, Claims Company Didn’t Provide Required Information
BY Michael Gauthier

Reports of Elon Musk mixing business with pleasure are about to be a distant memory as the billionaire is bailing on his Twitter deal.

In a U.S. Securities and Exchange Commission filing, lawyers for Musk said he is “terminating the merger agreement because Twitter is in material breach of multiple provisions of that agreement.”

They went on to say the social media giant “appears to have made false and misleading representations, upon which Mr. Musk relied when entering into the merger agreement.” The latter is obviously ironic as Musk has been known for making false and misleading statements of his own including his infamous “funding secured” tweet.

Putting that aside, lawyers said the merger agreement required Twitter to provide Musk and his advisors with “all data and information that Mr. Musk requests ‘for any reasonable business purpose related to the consummation of the transaction.’” They allege Twitter has failed to comply as Musk wants an “independent assessment of the prevalence of fake or spam accounts on Twitter’s platform.” The lawyers go on to say this information is “fundamental to Twitter’s business and financial performance,” and the lack of this data makes it impossible to close the deal.

https://www.carscoops.com/2022/07/elon-musk-bails-on-twitter-deal-claims-company-didnt-provide-required-information/

I saw this coming when he requested this information because it gave him an out that was easy to take.

I wouldn't want to do business with him.



Irongrip400

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #176 on: July 08, 2022, 05:08:42 PM »
Elon Musk Bails On Twitter Deal, Claims Company Didn’t Provide Required Information
BY Michael Gauthier

Reports of Elon Musk mixing business with pleasure are about to be a distant memory as the billionaire is bailing on his Twitter deal.

In a U.S. Securities and Exchange Commission filing, lawyers for Musk said he is “terminating the merger agreement because Twitter is in material breach of multiple provisions of that agreement.”

They went on to say the social media giant “appears to have made false and misleading representations, upon which Mr. Musk relied when entering into the merger agreement.” The latter is obviously ironic as Musk has been known for making false and misleading statements of his own including his infamous “funding secured” tweet.

Putting that aside, lawyers said the merger agreement required Twitter to provide Musk and his advisors with “all data and information that Mr. Musk requests ‘for any reasonable business purpose related to the consummation of the transaction.’” They allege Twitter has failed to comply as Musk wants an “independent assessment of the prevalence of fake or spam accounts on Twitter’s platform.” The lawyers go on to say this information is “fundamental to Twitter’s business and financial performance,” and the lack of this data makes it impossible to close the deal.

https://www.carscoops.com/2022/07/elon-musk-bails-on-twitter-deal-claims-company-didnt-provide-required-information/

I saw this coming when he requested this information because it gave him an out that was easy to take.

I wouldn't want to do business with him.

He’ll probably have to pay the billion dollar break up fee, or at least part of it. He did have a very good “out” with the fake account clause though. We shall see how it unfolds.

ThisisOverload

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #177 on: July 08, 2022, 05:19:37 PM »
At least he exposed Twitter.

Probably worth it to him.

I hope he continues to do this.

Mayday

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #178 on: July 08, 2022, 05:32:58 PM »
At least he exposed Twitter.

Probably worth it to him.

I hope he continues to do this.

Pretty much.

It was based on bots being no more than 5% of traffic. So now the obvious question to be asking is what amount of traffic really is bots because it’s clearly not even close to 5%. If it was, Twitter would have easily provided that data.

The next question is does Musk buy back his Tesla stock because he isn’t buying Twitter anymore….. 👀

youandme

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #179 on: July 08, 2022, 08:59:28 PM »
Traffic on the site is probably 20% bots.

jude2

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #180 on: July 08, 2022, 09:21:13 PM »
Traffic on the site is probably 20% bots.
Most likely more than that.

Dave D

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #181 on: July 08, 2022, 09:26:06 PM »

Flexacon

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #182 on: July 08, 2022, 09:59:06 PM »
At least he exposed Twitter.

Probably worth it to him.

I hope he continues to do this.

It was probably never about twitter. More likely the whole thing was a ruse for him to sell more Tesla shares near the top.

ProudVirgin69

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #183 on: July 09, 2022, 04:28:43 AM »
I think he’s fucked, historically you can’t really screw other rich people and get away with it.

Normally musk would just use his immense legal resources to outspend whoever he’s up against but the prominent shareholders of Twitter can go toe-to-toe with him without breaking a sweat.

ProudVirgin69

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #184 on: July 09, 2022, 04:32:28 AM »
It was probably never about twitter. More likely the whole thing was a ruse for him to sell more Tesla shares near the top.

 ??? What on earth would make you think that, TSLA dropped 10% the day after his announcement and is down almost 25% since then.

I don’t think there was any cunning plan here, he just got caught up in his own hype and made an expensive error

Palumboism

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #185 on: July 09, 2022, 06:09:53 AM »
??? What on earth would make you think that, TSLA dropped 10% the day after his announcement and is down almost 25% since then.

I don’t think there was any cunning plan here, he just got caught up in his own hype and made an expensive error

He can buy the same shares he sold back for less than he sold them for meaning he would now have more shares.  It's amazing how many games he plays.


Flexacon

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #186 on: July 09, 2022, 06:48:03 AM »
??? What on earth would make you think that, TSLA dropped 10% the day after his announcement and is down almost 25% since then.

I don’t think there was any cunning plan here, he just got caught up in his own hype and made an expensive error

Look back at the BS he was spitting when he sold tesla shares last year.

Plenty of people called this twitter "buy" as play in order to sell more tesla. This was back in April/May. Tesla isn't looking good in the short term. Elon knows that better than anyone.

ProudVirgin69

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #187 on: July 09, 2022, 06:53:57 AM »
He can buy the same shares he sold back for less than he sold them for meaning he would now have more shares.  It's amazing how many games he plays.

Ah yes, TSLA price going down is actually a good thing for Musk.  He intentionally tanked his company’s value by 1/3 as part of his master plan  :D

ProudVirgin69

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #188 on: July 09, 2022, 07:01:43 AM »
Look back at the BS he was spitting when he sold tesla shares last year.

Plenty of people called this twitter "buy" as play in order to sell more tesla. This was back in April/May. Tesla isn't looking good in the short term. Elon knows that better than anyone.

Sure, people make all kinds of predictions .. doesn’t mean they are right.

Since his announcement, TSLA is down 25%, they’ve announced a hiring freeze, as well as plans to layoff 10% of the workforce.  If his Twitter gambit was a plan to help Tesla, seems like it was an abject failure.

Flexacon

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #189 on: July 09, 2022, 07:17:32 AM »
Sure, people make all kinds of predictions .. doesn’t mean they are right.

Since his announcement, TSLA is down 25%, they’ve announced a hiring freeze, as well as plans to layoff 10% of the workforce.  If his Twitter gambit was a plan to help Tesla, seems like it was an abject failure.

The hiring freeze and layoffs were not caused by the price the stock is currently trading at. The factories aren't pushing out enough cars and there are issues securing chips, raw materials etc. I think his new factories are sitting half idle and losing  billions. The stock price was gonna dump with or without the twitter shenanigans.

We'll know if his gambit was an abject failure or not when the stock price bottoms. If he buys back in at the bottom tip your cap to the man.

Palumboism

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #190 on: July 09, 2022, 07:27:25 AM »
The hiring freeze and layoffs were not caused by the price the stock is currently trading at. The factories aren't pushing out enough cars and there are issues securing chips, raw materials etc. The stock price was gonna dump with or without the twitter shenanigans.

We'll know if his gambit was an abject failure or not when the stock price bottoms. If he buys back in at the bottom tip your cap to the man.

He plays way to many games with share price for me to feel comfortable buying the stock. 

He acts like the ten percent salaried workforce reduction is necessary.  To me, that just shows how he treats his employees and probably everyone.  Notice all the complaints coming from former employees.

 



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Abelard Lindsey

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #192 on: July 09, 2022, 04:23:11 PM »
Gentlemen, start your lawyers....

https://market-ticker.org/akcs-www?post=246328

When the top M&A firm in the U.S., Morgan Stanley, agrees with Elon Musk, that should be your que that Twitter's management is full of shit.

Hypertrophy

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #193 on: July 09, 2022, 05:24:21 PM »
Gentlemen, start your lawyers....

https://market-ticker.org/akcs-www?post=246328

When the top M&A firm in the U.S., Morgan Stanley, agrees with Elon Musk, that should be your que that Twitter's management is full of shit.


Gonna be interesting if it is shown that Twitter has been lying to investors...

Mayday

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #194 on: July 09, 2022, 08:38:48 PM »
22%-30%

Wouldn’t surprise me if it’s considerably higher because traffic is interactions and bots are crazy active. We need Matt on here as I’ll use street maths.

Facebook has 3B monthly active users —> One in every 2.5 people are on FB…..

8B people on the planet

3.7B live in under developed countries. Leaves 4.3B

1.4B live in China which banned FB unless using vpn and let’s be real they all use WeChat. that leaves 2.9B.

Which means an account for each person in the West is active each month. That isn’t even how many posts each one makes and spam account dwarf the volume of traffic human accounts perform each day let alone in a month.

We’re talking around 150 bot interactions/day (posts and likes) at a minimum vs maybe 20 of an avid active human user.

So let’s say of the 2.9B humans we have a generous 500M active who make 20 interactions per day = 10B/day.

That leaves a potential 2.4B bot accounts but let’s say it’s 500M who make 150 interactions per day = 75B/day.


Therefore in this example you can see how we use the same member of accounts for humans and bots however traffic of bots is 88%. I’ve used bots before on Instagram, fucking dwarfs human interactions and half the time they end up interacting with each other lol.

Al Doggity

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #195 on: July 09, 2022, 10:27:49 PM »
Gentlemen, start your lawyers....

https://market-ticker.org/akcs-www?post=246328

When the top M&A firm in the U.S., Morgan Stanley, agrees with Elon Musk, that should be your que that Twitter's management is full of shit.
Or, possibly, it's a cue that the bank handling the financing is willing to bend over backwards to maintain a relationship with the richest man in the world.

Gonna be interesting if it is shown that Twitter has been lying to investors...

It won't matter at all.  DAU (and all variations of the term) are defined by their respective companies.  It's not even a metric advertisers particularly care about.

Al Doggity

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #196 on: July 09, 2022, 10:30:25 PM »
At least he exposed Twitter.

Probably worth it to him.

I hope he continues to do this.

He could have done that just tweeting on twitter. Or he could have done it just by being the largest single stockholder. He didn't have to overbid for the company, position it as a fight for free speech and openly say that fighting bots on the site was one of his main goals following purchase.

Flexacon

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #197 on: July 10, 2022, 03:14:13 AM »
Wouldn’t surprise me if it’s considerably higher because traffic is interactions and bots are crazy active. We need Matt on here as I’ll use street maths.

Facebook has 3B monthly active users —> One in every 2.5 people are on FB…..

8B people on the planet

3.7B live in under developed countries. Leaves 4.3B

1.4B live in China which banned FB unless using vpn and let’s be real they all use WeChat. that leaves 2.9B.

Which means an account for each person in the West is active each month. That isn’t even how many posts each one makes and spam account dwarf the volume of traffic human accounts perform each day let alone in a month.

We’re talking around 150 bot interactions/day (posts and likes) at a minimum vs maybe 20 of an avid active human user.

So let’s say of the 2.9B humans we have a generous 500M active who make 20 interactions per day = 10B/day.

That leaves a potential 2.4B bot accounts but let’s say it’s 500M who make 150 interactions per day = 75B/day.


Therefore in this example you can see how we use the same member of accounts for humans and bots however traffic of bots is 88%. I’ve used bots before on Instagram, fucking dwarfs human interactions and half the time they end up interacting with each other lol.

Facebook purged a lot of bot/fake accounts maybe a decade ago. I lost several  :( It's relatively bot free now, however farming is still a thing.

Facebook is actually very common in underdeveloped countries, particularly South Asia. Mobile browsing via the FB is either very cheap or free so for many it is their only route to get "online". Those south asians (mostly bangladeshi) also generate clicks and likes en masse  when directed. They basically replaced bot farming on FB.

oldschoolfan

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #198 on: July 10, 2022, 08:08:37 PM »
Tesla is bleeding cash that’s why he pulled out

Humble Narcissist

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Re: Elon Musk Offers to Buy Twitter 100% in cash
« Reply #199 on: July 11, 2022, 01:07:43 AM »
Tesla is bleeding cash that’s why he pulled out
He should have pulled out of Grimes.