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It sounds like a diabolical idea, but why would someone risk that much money on something that is pretty much guaranteed to get tied up in long-term and very pu

It sounds like a diabolical idea, but why would someone risk that much money on something that is pretty much guaranteed to get tied up in long-term and very public litigation? There's no way to simply back out of a very public offer for a major social app without litigation that costs time out of your life (which is in that case more of a painful thing than losing the money). Paying capital gains (after huge deductions of course) might prove to be less by the time it's all done.

justapassenger 4y ago
Because Musk thinks he’s a god, he can distort the reality around him and do whatever he wants with no consequences. And TBH, he has all the reasons to think so. He’s been openly lying about so many aspects of his businesses for a long time, manipulating markets, ignoring all the rules and regulations and only thing it resulted in, was making him wealthiest man in the world.
- winternett 4y ago
  I'd never give bad behavior a pass, but I think moral points are superfluous to the discussion, and they only serve to show emotional bias, they don't really serve the right method of evaluating the overall situation. Expressing character traits and flaws puts a harmful spin on discussions. Think of the situation as if an unknown person did the very same things perhaps? The actual actions taken and specific words written and recorded are the only things that will be considered most by a court ultimately (if correct process is followed).
  - watwut 4y ago
    This thread is not court and the question posed was "why would Musk do it". And the answer seems spot on - he lied and bullied for years and it tended to end for his benefit. There was no reason for him to not think it is going to end the same way. And it is not even primary issue with Musk, it is primary issue with general economy/justice syatem that favors lying and bullying, pri ided you have enough money.
throwawaycities 4y ago
> There's no way to simply back out of a very public offer for a major social app without litigation that costs time out of your life $1B is a lot of money…he has obviously determined it’s well worth it to spend a few million in legal fees to try. Even if they settle (which more than >90% of cases do) maybe he cuts that penalty in half…even if he knocks 10% of financially it’s well worth it. Even if he loses and ends up paying his legal fees and their legal fees its clear he has determined it’s well worth it.
- _djo_ 4y ago
  He’s not on the hook for $1 billion. That was just a break up fee if he couldn’t secure financing. He’s on the hook for the entire deal value.

justapassenger 4y ago

Because Musk thinks he’s a god, he can distort the reality around him and do whatever he wants with no consequences. And TBH, he has all the reasons to think so. He’s been openly lying about so many aspects of his businesses for a long time, manipulating markets, ignoring all the rules and regulations and only thing it resulted in, was making him wealthiest man in the world.

winternett 4y ago
I'd never give bad behavior a pass, but I think moral points are superfluous to the discussion, and they only serve to show emotional bias, they don't really serve the right method of evaluating the overall situation. Expressing character traits and flaws puts a harmful spin on discussions. Think of the situation as if an unknown person did the very same things perhaps? The actual actions taken and specific words written and recorded are the only things that will be considered most by a court ultimately (if correct process is followed).
- watwut 4y ago
  This thread is not court and the question posed was "why would Musk do it". And the answer seems spot on - he lied and bullied for years and it tended to end for his benefit. There was no reason for him to not think it is going to end the same way. And it is not even primary issue with Musk, it is primary issue with general economy/justice syatem that favors lying and bullying, pri ided you have enough money.

throwawaycities 4y ago

> There's no way to simply back out of a very public offer for a major social app without litigation that costs time out of your life $1B is a lot of money…he has obviously determined it’s well worth it to spend a few million in legal fees to try. Even if they settle (which more than >90% of cases do) maybe he cuts that penalty in half…even if he knocks 10% of financially it’s well worth it. Even if he loses and ends up paying his legal fees and their legal fees its clear he has determined it’s well worth it.

_djo_ 4y ago
He’s not on the hook for $1 billion. That was just a break up fee if he couldn’t secure financing. He’s on the hook for the entire deal value.