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This to me seems the most reasonable explanation and explains most of the behaviors involved on both sides. I don’t buy into “it was just a joke that went too

This to me seems the most reasonable explanation and explains most of the behaviors involved on both sides. I don’t buy into “it was just a joke that went too far” theory. Musk doesn’t want a turd. Twitter, essentially made a deal with the devil (from their perspective). Despite being initially opposed to this deal, they now has to sue to try and make it happen, because I suspect if it doesn’t “south of $30” is going to be more like “around $20” and there are a whole bunch of folks that might get interested in a takeover at that level with far more villain potential than Musk.

dodobirdlord 4y ago
The possibility of other takeovers doesn’t need to factor into this. If Twitter’s share price is significantly below the price they can force Musk to buy the company at, then the board has an obligation to shareholders to force the sale, and will be sued by the shareholders if they don’t.
- kcplate 4y ago
  It’s going to be interesting to see if Musk can prove they are holding back data. I think Twitter does have a danger here. Their <5% bots was always an estimate. You can know, not know, or not want to know. That last part is the danger.
  - dodobirdlord 4y ago
    If they’re actually holding back data they contractually agreed to provide, then they aren’t living up to their side of the contract and maybe he has a way out. That doesn’t seem to be the case though. There is no “provided Elon Musk can verify that bots are less than 5% of users” clause in the contract.
- jacquesm 4y ago
  Spot on.
raziel2701 4y ago
Musk decided to pay $54.20/share (because weed joke) for twitter under the guise that he was going to fix the bot problem. Now he wants to back out of the deal because of the bot problem. He makes no sense.
- kcplate 4y ago
  He wants to back out because the size of his wallet has gotten smaller because of the market, twitter’s value is significantly less than when the offer was made, and apparently Twitter is holding back on providing some data. If he proves that last part, Twitter is screwed because there is no doubt it’s going to underscore the bot problem even further and I think their stock is going to dip into the low 20s.
- mlindner 4y ago
  His reason for buying it was never the bot problem. Where are people inventing this reasoning from. His reason for buying it was to create a public square, which he stated multiple times. He hardly mentioned the bots at all before setting out to buy Twitter.

dodobirdlord 4y ago

The possibility of other takeovers doesn’t need to factor into this. If Twitter’s share price is significantly below the price they can force Musk to buy the company at, then the board has an obligation to shareholders to force the sale, and will be sued by the shareholders if they don’t.

kcplate 4y ago
It’s going to be interesting to see if Musk can prove they are holding back data. I think Twitter does have a danger here. Their <5% bots was always an estimate. You can know, not know, or not want to know. That last part is the danger.
- dodobirdlord 4y ago
  If they’re actually holding back data they contractually agreed to provide, then they aren’t living up to their side of the contract and maybe he has a way out. That doesn’t seem to be the case though. There is no “provided Elon Musk can verify that bots are less than 5% of users” clause in the contract.
jacquesm 4y ago
Spot on.

raziel2701 4y ago

Musk decided to pay $54.20/share (because weed joke) for twitter under the guise that he was going to fix the bot problem. Now he wants to back out of the deal because of the bot problem. He makes no sense.

kcplate 4y ago
He wants to back out because the size of his wallet has gotten smaller because of the market, twitter’s value is significantly less than when the offer was made, and apparently Twitter is holding back on providing some data. If he proves that last part, Twitter is screwed because there is no doubt it’s going to underscore the bot problem even further and I think their stock is going to dip into the low 20s.
mlindner 4y ago
His reason for buying it was never the bot problem. Where are people inventing this reasoning from. His reason for buying it was to create a public square, which he stated multiple times. He hardly mentioned the bots at all before setting out to buy Twitter.