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Spite? He signed a legal agreement to buy Twitter or pay $1B to cancel the deal or at least that's the amount I've read was in the contract. Elon was given the
by weare138 4y ago
Spite? He signed a legal agreement to buy Twitter or pay $1B to cancel the deal or at least that's the amount I've read was in the contract. Elon was given the opportunity to investigate any concerns he had before he agreed to buy Twitter, just like with any corporate acquisition, but for some inexplicable reason waived due diligence and signed anyways. He had the opportunity but gave it up. Don't know why, seems incredibly reckless for a deal of this size but he did. Then after the fact he claimed he wasn't given data on the number of bot accounts even though he waived his right and could have requested all this data beforehand. Even still Twitter complied.
Now Elon is claiming that still isn't enough data? The data is inaccurate? I'm not exactly sure what's he claiming, it all seems vague. But whatever the reason, Elon is claiming it's somehow in violation of the contract in order to walk away from the deal without having to pay the agreed fines. In what other situation could you do something like that? If you signed a contract to buy a house as-is after waiving your right to inspect it, well guess what? You just bought that house regardless of how you feel about it. If you agreed to pay fines that allowed you to back out of the contract after the fact then you owe that money. That's just the way contracts work. Why wouldn't Twitter sue?