11 ms·

Worth noting that the date of buying these shares is March 14th, and the date he started rather unsubtly tweeting about Twitter's approach to free speech is Mar

Worth noting that the date of buying these shares is March 14th, and the date he started rather unsubtly tweeting about Twitter's approach to free speech is March 25th. So to be clear, anyone who thought that Musk's actions are the result of the twitter poll he ran has clearly been misled.

refurb 5y ago
Are you inferring that when someone tweets about a topic that’s the exact moment the thought first occurred to them?
- Traster 5y ago
  No I'm saying that quote > The consequences of this poll will be important. Please vote carefully. Is pretty disingenuous when it turns out that he's launched the poll a week after he already decided to buy 10% of the stock. Do you seriously think Musk spent several billion dollars on twitter stock and then decided to check what people think?
  - kreetx 5y ago
    Perhaps he's asking as to decide what to do in the company?
    - Traster 5y ago
      I just don't think it's very likely that Elon Musk spend billions buying a stake in twitter before he knew what he wanted to do with the company, especially since his view on free speech is already well known and goes far beyond even vocal free speech advocates.
      - Clubber 5y ago
        >his view on free speech is already well known and goes far beyond even vocal free speech advocates. I don't follow him that closely, how so?
      - md2020 5y ago
        In what way is his view on free speech far beyond vocal free speech advocates? I think it’s pretty uncontroversial that Twitter is the de-facto public square on the internet, and so it is bad that they clearly have a political leaning when it comes to content moderation. I know they’re a private company. But it’s just naïve at this point to think Twitter is the same as any old private company.
        Traster 5y ago
        Well on the "far beyond free speech advocates", the position that the SEC can't prevent market manipulation due to the first amendment is a position that basically no one sensible takes. Or that he's happy using "Free Speech" to slander people. On the subject of Twitter being a public square, I think that's a pretty absurd assertion, it's one of a plethora of social media sites - Facebook, Youtube, Instagram, Whatsapp, Reddit, Tiktok, Telegram, Snapchat. And it's not even particularly large compared to that competition. It's not even like Twitter has grown to become some behemoth, it's share price is about flat over the last decade. This isn't some behemoth that needs regulating.
nabla9 5y ago
His Twitter poll about selling 10% of Tesla was equally disingenuous. He had pre-arranged those sales in mid-September according to regulatory filings. He also didn’t mention in the tweets that he has millions of stock options that must be exercised. Musk knows his fans are dumb as rock.
- Bilal_io 5y ago
  It makes me sad to see that his fan base turned into a cult for the most part. I used to admire him until the veil fell off, I still admire the technologies him and the smart people at Tesla and SpaceX have created, but my admiration doesn't extend to him anymore.
  - mrfusion 5y ago
    Everyone has good and bad attributes. If you’re expecting anyone to be 100% good you’ll be disappointed. I’m still a fan because he seems about 90% right on his opinions and he’s doing amazing work.
    - txru 5y ago
      Man but the bad 10% is so rough. The Thai diver situation wasn't some off the cuff rant, that was someone wealthy and influential in concerted effort to utterly destroy someone who had done some good in the world. Intellectual genius but moral void can still apparently be admirable?
      - SuoDuanDao 5y ago
        I wouldn't call it a moral void. Heroes are better and worse than ordinary people, it's unfortunate that we've been raised on simplistic stories where if someone is worth being on a side with they can't have any significant flaws.
        txru 5y ago
        I fully recognize that people exist in shades of gray. However, I also believe that there are actions that people can and do take that put them beyond what contrition could repair-- and Musk hasn't publicly apologized for this, even.
matthewmcg 5y ago
Interesting that he filed his >5% report on Schedule 13G rather than Schedule 13D, and has checked the box for the exemption in Rule 13d-1(c)[1]. This exemption requires that he "has not acquired the securities with any purpose, or with the effect, of changing or influencing the control of the issuer, or in connection with or as a participant in any transaction having that purpose or effect." If he's indeed seeking to participate actively in changing things at Twitter, he may have opened yet another front in his antagonization of the SEC. [1]: https://www.law.cornell.edu/cfr/text/17/240.13d-1 https://www.law.cornell.edu/cfr/text/17/240.13d-1 Background: the SEC requires purchasers of >5% of a U.S. public company to provide certain information about themselves and their intentions in making the purchase. Generally, you file Schedule 13D if you're seeking to conduct a takeover bid. The shorter Schedule 13G is supposed to be used only for "passive" investors. Here, perhaps Musk would say he's not seeking a change in the "control" of the company (voting share ownership), just a change in governance practices not involving a change in control. This will be interesting...
- vasco 5y ago
  The intention needs only to be true at the time of the filling. Intentions can change. I wouldn't be surprised this is yet another troll.
- matthewmcg 5y ago
  Update: some press coverage raising the same questions. The silly part about this is the filing deficiencies seem either inept or willful. Mr. Musk can certainly afford good securities lawyers to make the proper filings. A 13D is not that much more burdensome than a 13G, and some activists use the filing (which gets a lot of free attention) to make statements that to support their objective, whatever that may be. https://www.wsj.com/articles/elon-musks-twitter-investment-raises-new-regulatory-red-flag-11649114327 https://www.wsj.com/articles/elon-musks-twitter-investment-r... Second update: the inevitable Matt Levine column on the same theme: https://www.bloomberglaw.com/bloomberglawnews/mergers-and-acquisitions/X50HFB28000000?bna_news_filter=mergers-and-acquisitions#jcite https://www.bloomberglaw.com/bloomberglawnews/mergers-and-ac...
nr2x 5y ago
It’s almost like he has a history of using Twitter to manipulate rubes for his own financial gain and has the SEC receipts to back it up.
- toephu2 5y ago
  Do you think Elon Musk does all that he does for the money?
  - nr2x 5y ago
    I enjoy my job, I also get paid to do it. If being a twitter troll is both a past time and road to riches for Elon I think it’s just win-win for somebody who seems to need attention and wealth.
    - thisismyswamp 5y ago
      He lives in a $50k prefab house
      - Cookingboy 5y ago
        And he flies around in $50M private jets and absolutely revels in the attention, influence and soft power his wealth affords him. But sure, he's one of us because one of the many places he stays at is a prefab house that's right next to his work.
        toephu2 5y ago
        There's only a limited amount of time one has. The private jet is to save time (convenience). In one of his interviews he talks about how he is always solving problems and his brain is running a million miles a minute. His brain is wired differently than most people. He has so many ideas running through his head. He doesn't have time to work on them all. He doesn't have many expensive tastes. He doesn't live a life of luxury, he's not covered from head to toe in brand name clothes. He doesn't own a private island. He could care less about that stuff. Yes he has a huge ego but rightfully so. Look at all that he has accomplished against incredible odds (Tesla and SpaceX almost failing). I do think he is genuinely trying to expand the realm of human consciousness and save the planet and create a backup plan for humans (colonizing Mars). Overall I think he is a net positive for mankind. If anyone really thinks he is doing all this just to get rich needs to do some more research on him.

refurb 5y ago

Are you inferring that when someone tweets about a topic that’s the exact moment the thought first occurred to them?

Traster 5y ago
No I'm saying that quote > The consequences of this poll will be important. Please vote carefully. Is pretty disingenuous when it turns out that he's launched the poll a week after he already decided to buy 10% of the stock. Do you seriously think Musk spent several billion dollars on twitter stock and then decided to check what people think?
- kreetx 5y ago
  Perhaps he's asking as to decide what to do in the company?
  - Traster 5y ago
    I just don't think it's very likely that Elon Musk spend billions buying a stake in twitter before he knew what he wanted to do with the company, especially since his view on free speech is already well known and goes far beyond even vocal free speech advocates.
    - Clubber 5y ago
      >his view on free speech is already well known and goes far beyond even vocal free speech advocates. I don't follow him that closely, how so?
    - md2020 5y ago
      In what way is his view on free speech far beyond vocal free speech advocates? I think it’s pretty uncontroversial that Twitter is the de-facto public square on the internet, and so it is bad that they clearly have a political leaning when it comes to content moderation. I know they’re a private company. But it’s just naïve at this point to think Twitter is the same as any old private company.
      - Traster 5y ago
        Well on the "far beyond free speech advocates", the position that the SEC can't prevent market manipulation due to the first amendment is a position that basically no one sensible takes. Or that he's happy using "Free Speech" to slander people. On the subject of Twitter being a public square, I think that's a pretty absurd assertion, it's one of a plethora of social media sites - Facebook, Youtube, Instagram, Whatsapp, Reddit, Tiktok, Telegram, Snapchat. And it's not even particularly large compared to that competition. It's not even like Twitter has grown to become some behemoth, it's share price is about flat over the last decade. This isn't some behemoth that needs regulating.

nabla9 5y ago

His Twitter poll about selling 10% of Tesla was equally disingenuous. He had pre-arranged those sales in mid-September according to regulatory filings. He also didn’t mention in the tweets that he has millions of stock options that must be exercised. Musk knows his fans are dumb as rock.

Bilal_io 5y ago
It makes me sad to see that his fan base turned into a cult for the most part. I used to admire him until the veil fell off, I still admire the technologies him and the smart people at Tesla and SpaceX have created, but my admiration doesn't extend to him anymore.
- mrfusion 5y ago
  Everyone has good and bad attributes. If you’re expecting anyone to be 100% good you’ll be disappointed. I’m still a fan because he seems about 90% right on his opinions and he’s doing amazing work.
  - txru 5y ago
    Man but the bad 10% is so rough. The Thai diver situation wasn't some off the cuff rant, that was someone wealthy and influential in concerted effort to utterly destroy someone who had done some good in the world. Intellectual genius but moral void can still apparently be admirable?
    - SuoDuanDao 5y ago
      I wouldn't call it a moral void. Heroes are better and worse than ordinary people, it's unfortunate that we've been raised on simplistic stories where if someone is worth being on a side with they can't have any significant flaws.
      - txru 5y ago
        I fully recognize that people exist in shades of gray. However, I also believe that there are actions that people can and do take that put them beyond what contrition could repair-- and Musk hasn't publicly apologized for this, even.

matthewmcg 5y ago

Interesting that he filed his >5% report on Schedule 13G rather than Schedule 13D, and has checked the box for the exemption in Rule 13d-1(c)[1]. This exemption requires that he "has not acquired the securities with any purpose, or with the effect, of changing or influencing the control of the issuer, or in connection with or as a participant in any transaction having that purpose or effect." If he's indeed seeking to participate actively in changing things at Twitter, he may have opened yet another front in his antagonization of the SEC. [1]: https://www.law.cornell.edu/cfr/text/17/240.13d-1 https://www.law.cornell.edu/cfr/text/17/240.13d-1 Background: the SEC requires purchasers of >5% of a U.S. public company to provide certain information about themselves and their intentions in making the purchase. Generally, you file Schedule 13D if you're seeking to conduct a takeover bid. The shorter Schedule 13G is supposed to be used only for "passive" investors. Here, perhaps Musk would say he's not seeking a change in the "control" of the company (voting share ownership), just a change in governance practices not involving a change in control. This will be interesting...

vasco 5y ago
The intention needs only to be true at the time of the filling. Intentions can change. I wouldn't be surprised this is yet another troll.
matthewmcg 5y ago
Update: some press coverage raising the same questions. The silly part about this is the filing deficiencies seem either inept or willful. Mr. Musk can certainly afford good securities lawyers to make the proper filings. A 13D is not that much more burdensome than a 13G, and some activists use the filing (which gets a lot of free attention) to make statements that to support their objective, whatever that may be. https://www.wsj.com/articles/elon-musks-twitter-investment-raises-new-regulatory-red-flag-11649114327 https://www.wsj.com/articles/elon-musks-twitter-investment-r... Second update: the inevitable Matt Levine column on the same theme: https://www.bloomberglaw.com/bloomberglawnews/mergers-and-acquisitions/X50HFB28000000?bna_news_filter=mergers-and-acquisitions#jcite https://www.bloomberglaw.com/bloomberglawnews/mergers-and-ac...

nr2x 5y ago

It’s almost like he has a history of using Twitter to manipulate rubes for his own financial gain and has the SEC receipts to back it up.

toephu2 5y ago
Do you think Elon Musk does all that he does for the money?
- nr2x 5y ago
  I enjoy my job, I also get paid to do it. If being a twitter troll is both a past time and road to riches for Elon I think it’s just win-win for somebody who seems to need attention and wealth.
  - thisismyswamp 5y ago
    He lives in a $50k prefab house
    - Cookingboy 5y ago
      And he flies around in $50M private jets and absolutely revels in the attention, influence and soft power his wealth affords him. But sure, he's one of us because one of the many places he stays at is a prefab house that's right next to his work.
      - toephu2 5y ago
        There's only a limited amount of time one has. The private jet is to save time (convenience). In one of his interviews he talks about how he is always solving problems and his brain is running a million miles a minute. His brain is wired differently than most people. He has so many ideas running through his head. He doesn't have time to work on them all. He doesn't have many expensive tastes. He doesn't live a life of luxury, he's not covered from head to toe in brand name clothes. He doesn't own a private island. He could care less about that stuff. Yes he has a huge ego but rightfully so. Look at all that he has accomplished against incredible odds (Tesla and SpaceX almost failing). I do think he is genuinely trying to expand the realm of human consciousness and save the planet and create a backup plan for humans (colonizing Mars). Overall I think he is a net positive for mankind. If anyone really thinks he is doing all this just to get rich needs to do some more research on him.