4 ms·

I suppose the next time Musk tries to buy something that costs $44 billion dollars he should do a little more homework. Waiving due diligence, though perfectly

I suppose the next time Musk tries to buy something that costs $44 billion dollars he should do a little more homework. Waiving due diligence, though perfectly in line with his trollish vibe, is something he's going to regret for years. The bottom line is the guy gets off on being an irreverent, flamboyant dipshit and this time it's biting him in the ass. And I for one am here for it. After the last few years I have run out of patience with assholes with money/power thinking they can do whatever they want in broad daylight. Christ, at least have the decency to be surreptitious about it.

rwiggins 4y ago
Even if he's forced to buy Twitter, let's not forget that... he will own Twitter. I'm not sure that's a net positive for the world. Though I'm not certain it's a net negative either. And though it may well be expensive, it's not as if the $44 billion disappears: in fact it buys Twitter. And though he might regret it all in the end, he'll still have enormous wealth. (And Twitter.) So... it does feel a bit like a pyrrhic victory to me.
- chx 4y ago
  He doesn't have the money any more...
  - judge2020 4y ago
    Even after today's 7% TSLA loss he's worth over 150 billion in Tesla stock alone; Twitter will be a huge chunk of his wealth but it's not more than a third of it. Note that the loans were secured with TSLA stock as collateral, but even if those expire he'd be able to secure funding again if he was forced to proceed with the purchase by the Delaware Court of Chancery.
    - chx 4y ago
      https://thenextweb.com/news/elon-musk-telsa-shares-loan-twitter-deal-analysis https://thenextweb.com/news/elon-musk-telsa-shares-loan-twit... > Musk's equity commitment now stands at $33.5 billion > May 26, 2022 > But in the latest filing, he’s completely removed this loan in the financing plan to acquire the social media company. If he needs to sell thirty billion dollars worth of Tesla shares it is going to devalue the stock quite a bit. That's a full day volume of trading.
      - judge2020 4y ago
        The market won't react harshly given it'd only happen if compelled by court order, and it still would simply be stock transferred to the banks with the banks selling it off over years to recoup their loan amount.

rwiggins 4y ago

Even if he's forced to buy Twitter, let's not forget that... he will own Twitter. I'm not sure that's a net positive for the world. Though I'm not certain it's a net negative either. And though it may well be expensive, it's not as if the $44 billion disappears: in fact it buys Twitter. And though he might regret it all in the end, he'll still have enormous wealth. (And Twitter.) So... it does feel a bit like a pyrrhic victory to me.

chx 4y ago
He doesn't have the money any more...
- judge2020 4y ago
  Even after today's 7% TSLA loss he's worth over 150 billion in Tesla stock alone; Twitter will be a huge chunk of his wealth but it's not more than a third of it. Note that the loans were secured with TSLA stock as collateral, but even if those expire he'd be able to secure funding again if he was forced to proceed with the purchase by the Delaware Court of Chancery.
  - chx 4y ago
    https://thenextweb.com/news/elon-musk-telsa-shares-loan-twitter-deal-analysis https://thenextweb.com/news/elon-musk-telsa-shares-loan-twit... > Musk's equity commitment now stands at $33.5 billion > May 26, 2022 > But in the latest filing, he’s completely removed this loan in the financing plan to acquire the social media company. If he needs to sell thirty billion dollars worth of Tesla shares it is going to devalue the stock quite a bit. That's a full day volume of trading.
    - judge2020 4y ago
      The market won't react harshly given it'd only happen if compelled by court order, and it still would simply be stock transferred to the banks with the banks selling it off over years to recoup their loan amount.