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I hope this is a worthy & commensurate lesson for Elon Musk, who has been recklessly playing with the stock markets, flouting norms & trying to be an iconoclast

I hope this is a worthy & commensurate lesson for Elon Musk, who has been recklessly playing with the stock markets, flouting norms & trying to be an iconoclast in the not-so-benevolent way. Sometimes, hard lessons are necessary. More: https://www.bloomberg.com/opinion/articles/2022-07-19/let-s-hope-twitter-beats-elon-musk-in-court-and-quickly https://www.bloomberg.com/opinion/articles/2022-07-19/let-s-...

melony 4y ago
It's only a bad deal if the stock market does not recover by the time he has to complete the transaction. At his scale, he can afford to drag out the deal for another few months and save money. If the tech bubble reinflates, then this deal is bad for Twitter.
- Ekaros 4y ago
  Only really if Twitter would trend to go over the offered price. Which I doubt.
  - melony 4y ago
    Not necessarily, if the market bounces back the funding becomes cheap.
- Scarbutt 4y ago
  A few months? with a recession coming?
- kadoban 4y ago
  If that's what Musk is betting on, he might as well just complete the sale now. I don't think there's anything reasonable to judge the deal by except the _current_ worth, unless there's some good reason to expect it to move one way or the other.
LegitShady 4y ago
Elon Musk doesn't know you exist and doesn't care what you think about him. Pretending that being sued is the same thing as losing isn't honest. Musk alleges twitter didn't keep to the terms of their agreement and it will come out in court how true this all is. It's not worth having a personal opinion of what people you dont know deserve when their crime is "involved in a business deal you don't approve of".
- srvmshr 4y ago
  I humbly suggest, get over such vitriol in a opinion & knowledge sharing platform like HN, maybe get some professional help. Just a sincere advice from fellow user It isn't a directed sarcasm. Writing like this isn't okay Quoting guidelines: "Please don't post shallow dismissals, especially of other people's work [...]"
  - decremental 4y ago
    Your response is worse than his. You couch it with passive aggressive language but you're just saying he's mentally ill because you don't like his tone.
    - srvmshr 4y ago
      > Elon Musk doesn't know you exist and doesn't care what you think about him Sorry. I am trying to engage with everyone here respectfully. I generally feel people who write like this have anger issues or purely dismissive. The later seems true if I read the answer carefully enough. I don't think I have made a personal affront to him to receive one. And the opinion is honest - writing like this unprovoked, is not okay & outside of HN guidelines anyway
      - decremental 4y ago
        What he said is at least true even if it's not nice sounding. For someone so concerned with HN guidelines you didn't seem to mind launching a personal attack against him. Maybe just downvote someone instead of trying to give them a psychiatric evaluation.
TechBro8615 4y ago
I’m not sure what lesson there is to be learned here. Wasn’t it Musk who sent this to the courts by letting it go there? Why does everyone assume he’s not in control of this situation? Many favorable outcomes remain available to him. He’s certainly improved his position since a few months ago, when the Twitter board was discussing “poison pills” to stop his purchase of the company. Now, the same board is begging him to complete the purchase. Also, there was a recent reminder from Musk’s legal team: as its largest shareholder, Musk has a greater financial stake in Twitter than the entire board combined.
- srvmshr 4y ago
  > Also, reminder: as its largest shareholder, Musk has a greater financial stake in Twitter than the entire board combined You verbatim quoted the actual closing arguments of Rossman (representing Musk in the trial).
  - TechBro8615 4y ago
    How do you know I’m not Rossman? Just kidding. Yes, I wasn’t sure which document that was from and I didn’t want to use exact quotes without knowing. But I should have cited it (not that he’d mind), so I edited my post. It was a smooth turn of phrase if you ask me. It helps that it’s the truth.
    - kadoban 4y ago
      It'd be much more rhetorically satisfying if it had anything to do with the matter at hand.
      - TechBro8615 4y ago
        It’s relevant because it means Musk can credibly make all the same arguments the board claims to make in the interest of Twitter. It changes the dynamic of the trial compared to one against an outside acquirer. Twitter is suing its largest shareholder, Musk, who can (somewhat) credibly refute any argument that Twitter claims to be “in the interest of the shareholders.”
tmp_anon_22 4y ago
Tell that to the Twitter employees who have to put up with this bullshit.

melony 4y ago

It's only a bad deal if the stock market does not recover by the time he has to complete the transaction. At his scale, he can afford to drag out the deal for another few months and save money. If the tech bubble reinflates, then this deal is bad for Twitter.

Ekaros 4y ago
Only really if Twitter would trend to go over the offered price. Which I doubt.
- melony 4y ago
  Not necessarily, if the market bounces back the funding becomes cheap.
Scarbutt 4y ago
A few months? with a recession coming?
kadoban 4y ago
If that's what Musk is betting on, he might as well just complete the sale now. I don't think there's anything reasonable to judge the deal by except the _current_ worth, unless there's some good reason to expect it to move one way or the other.

LegitShady 4y ago

Elon Musk doesn't know you exist and doesn't care what you think about him. Pretending that being sued is the same thing as losing isn't honest. Musk alleges twitter didn't keep to the terms of their agreement and it will come out in court how true this all is. It's not worth having a personal opinion of what people you dont know deserve when their crime is "involved in a business deal you don't approve of".

srvmshr 4y ago
I humbly suggest, get over such vitriol in a opinion & knowledge sharing platform like HN, maybe get some professional help. Just a sincere advice from fellow user It isn't a directed sarcasm. Writing like this isn't okay Quoting guidelines: "Please don't post shallow dismissals, especially of other people's work [...]"
- decremental 4y ago
  Your response is worse than his. You couch it with passive aggressive language but you're just saying he's mentally ill because you don't like his tone.
  - srvmshr 4y ago
    > Elon Musk doesn't know you exist and doesn't care what you think about him Sorry. I am trying to engage with everyone here respectfully. I generally feel people who write like this have anger issues or purely dismissive. The later seems true if I read the answer carefully enough. I don't think I have made a personal affront to him to receive one. And the opinion is honest - writing like this unprovoked, is not okay & outside of HN guidelines anyway
    - decremental 4y ago
      What he said is at least true even if it's not nice sounding. For someone so concerned with HN guidelines you didn't seem to mind launching a personal attack against him. Maybe just downvote someone instead of trying to give them a psychiatric evaluation.

TechBro8615 4y ago

I’m not sure what lesson there is to be learned here. Wasn’t it Musk who sent this to the courts by letting it go there? Why does everyone assume he’s not in control of this situation? Many favorable outcomes remain available to him. He’s certainly improved his position since a few months ago, when the Twitter board was discussing “poison pills” to stop his purchase of the company. Now, the same board is begging him to complete the purchase. Also, there was a recent reminder from Musk’s legal team: as its largest shareholder, Musk has a greater financial stake in Twitter than the entire board combined.

srvmshr 4y ago
> Also, reminder: as its largest shareholder, Musk has a greater financial stake in Twitter than the entire board combined You verbatim quoted the actual closing arguments of Rossman (representing Musk in the trial).
- TechBro8615 4y ago
  How do you know I’m not Rossman? Just kidding. Yes, I wasn’t sure which document that was from and I didn’t want to use exact quotes without knowing. But I should have cited it (not that he’d mind), so I edited my post. It was a smooth turn of phrase if you ask me. It helps that it’s the truth.
  - kadoban 4y ago
    It'd be much more rhetorically satisfying if it had anything to do with the matter at hand.
    - TechBro8615 4y ago
      It’s relevant because it means Musk can credibly make all the same arguments the board claims to make in the interest of Twitter. It changes the dynamic of the trial compared to one against an outside acquirer. Twitter is suing its largest shareholder, Musk, who can (somewhat) credibly refute any argument that Twitter claims to be “in the interest of the shareholders.”

tmp_anon_22 4y ago

Tell that to the Twitter employees who have to put up with this bullshit.