5 ms·
Elon isn't paying for this out of his own pocket. He's not transferring it to some perpetual trust a la the Guardian and the Scott Trust. He's taking it private
by te_chris 4y ago
Elon isn't paying for this out of his own pocket. He's not transferring it to some perpetual trust a la the Guardian and the Scott Trust. He's taking it private but there will still be pressure from everyone he's raised money from to make sure they make good.
Mostly, I think this is going to end up being one of the most expensive acts of individual hubris in history. It's strange from someone whose other notable projects have such clear goals. "Moar free speech lmao" doesn't sound measureable, let alone achievable while also making bank.
- SuoDuanDao 4y ago"one of the most expensive acts of individual hubris in history" is what people have been saying about everything Elon does for a while now.
- dhc02 4y agoThe money he's secured is mostly loans, not venture capital, so that sort of pressure to grow or pad numbers should indeed be diminished.
- randcraw 4y agoBloomberg mentioned two loans to cover the shortfall in his equity swap (one external and one drawn on his Tesla stock), with annual interest payments in the ballpark of $1B each. So Twitter's take home pay just lost $2B of the $4B it nets annually. Losing further market share by re-engineering retweet algorithms to be kinder/gentler looks like a better bet to bury Twitter than raise it. But mature media giants are supposed to lose money, right?
- strainer 4y ago> "Moar free speech lmao" doesn't sound measureable Did you just make up a ridiculous quotation and then attribute the sound of it to Musk ?