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Elon Musk sells $6.9B worth of Tesla stock
- Rackedup 4y agoGetting ready for Twitter?
- 28194608 4y agowhy your name is in green color?
- jasonjmcghee 4y agohttps://news.ycombinator.com/newsfaq.html https://news.ycombinator.com/newsfaq.html New user
- koheripbal 4y ago
- Rackedup 4y ago
- nopeYouAreWrong 4y agoGood, now buy my Twitter shares at 54.20 so I can move on with my life.
- irthomasthomas 4y agoSaudi princes don't buy twitter for the dividend, but for the quiet benefits that come from owning the internet's town square.
- alephxyz 4y agoWasn't a Twitter employee arrested a while back for spying on Saudi dissidents on KSA's behalf? Looks like they just figured they could cut the middlemen.
- shapefrog 4y agoThat looks like a heavy bag you are holding there.
- rhodorhoades 4y agoIn the future, if an acquisition gets offered at some x price and the stock rallies to almost x, then the delta (smart move) is to short, not buy. If you buy, the most you are going to get is that 5% bump. If you short, you can make 100%.
- maest 4y agoMost pending M&A deals will get arbed to almost perfection, so I doubt the strategy you're suggesting here will make money, for 2 reasons: 1. it's a lot more likely that you're going to lose 5% than make 100% (in reality you're making more like 20%, because the stock won't go to 0 if the deal doesn't go through). The bet will actually look something like 20% to make 20% or 80% to lose 5%. The expectation of that is 0. 2. For many names borrow fees will shoot up and there will be limited availability to short. So you'll have to take that into account. The fees can get particularly painful if the deal drags on for a long time.
- asciiresort 4y agoOptions are priced commensurate to the risk. They are traded with supply and demand. They are priced at what people think the risk/reward ratio is. Hence, theta.
- koheripbal 4y agoHow does the Twitter share price stop you from living your life? The current price is $42. If you need money, sell some portion of it. $42 is probably a fair risk-adjusted price as the board will likely ultimately settle for a lower sale price to avoid a very public litigation about its true bot content. Don't look at $54.29 as the "correct" price. Evaluate the spectrum of probabilistic outcomes.
- cma 4y ago
- koheripbal 4y agoI don't see how these could be related.
- cma 4y agoA citizen scientist in the FSD beta is about to run an AEB experiment with someone else's child.
- kleinsch 4y agoWhich seems more likely? - He’s irrational and crazy and changes his mind on a whim - This whole thing was an excuse to sell a ton of TSLA at the top of the market
- kadoban 4y agoSeems to me like a little bit of both.
- isitmadeofglass 4y agoThe prior. The second is a post rationalization of his behavior attempting to deflect his inability to predict with certainty the exact development of the future, coupled with an extremely odd base assumption that he was somehow completely incapable of liquidating stock with out having some “public cover”. People will go to great lengths to defend their idols, but claiming that Musk was playing 4D chess on this and that it was all a ploy to liquidate stock is the inverse of Occam’s razor, especially considering all the more straight forwards paths he had even if this was his main objective.
- koheripbal 4y ago
- ftyhbhyjnjk 4y agoUsed to respect this guy a lot. Now hate him with same passion. Fcking market manipulating egoistic narcissist asshole.
- the_common_man 4y agoBoth seem unnecessary and waste of energy
- thekingofrome 4y agoThis is what I always say. The only people more annoying than his fanboys are the people that passionately hate him and want to tell the world about it
- leobg 4y agoWhat caused the flip for you?
- capableweb 4y agoI'm also a flipped used-to-be-fan. What did it for me was the diving accident behavior and anti-union/overworking sentiment that made me despise him.
- leobg 4y agoThanks for sharing.
- deleted 4y ago[deleted]
- mgoetzke 4y agoI dont thing the diving accident behavior is something I would fault anyone for. In an emotional time-critical situation he was asked to help. They (Tesla etc) tried to come up with an idea and work on it. Someone else from the actual team became very explicit in his dismissal, Elon responded in kind. Should he have taken the high-road, yes, but considering the situation, people do misspeak. To then say everything after that taints his character forever is just implausible and shows an emotional disconnect itself.
- irthomasthomas 4y agoI can't believe the biggest huckster, snake-oil-salesman, ever, is going to end up owning the internet's town square. Our last hope for justice are the courts. Musk has three major trials in October, the 420 "funding secured" trial, some sex discrimination or bullying trial, I think, and the twitter trial in Delaware Chancery court. The Chancery is our best chance, as they don't play. And Musk has already caused a rule 11 breach by signing statements that his own evidentiary submitions prove false. I hope the courts fine him a few billion for his antics, and maybe ban him from being an company officer for 5 years. That's the only punishment that would be meaningful for a man like that. Specific performance, alone, would be a massive win for Musk. He needs to get fined hard, too.
- 14u2c 4y ago> I can't believe the biggest huckster, snake-oil-salesman, ever, is going to end up owning the internet's town square. Your two points seem to be at odds. If Twitter prevails in the upcoming case, my understanding is that Musk would be forced to complete the deal. I'd much prefer he just fcks off and goes home, even if it means he "wins".
- Ekaros 4y agoI just want to see him lose money... Even if that money goes to Twitter shareholders...
- koheripbal 4y agoThis is just pointless irrational hate of someone you don't know and will never meet
- badpun 4y agoStrange criteria... Plenty of people hated Hitler or Stalin despite never knowing or meeting them.
- 4y ago
- abudabi123 4y agoOn the dumb-n-dumber Full Send Youtube channel the tip of the iceberg model for where Twitter would be with Elon Musk setting priorities and directions was touched and this cash could be the basis for funding the 3-year business plan accelerant. The Optimus Prime A.I. [OPAI] subject will be touched on next. Picture a world with people on Twitter and OPAI is the hub of activity for unfouled information. That's the potential upside.
- pjerem 4y agoIIRC, wasn’t Elon Musk without cash living from debt with its Tesla Stock as a guarantee, unable to sell them without making the price crashing ? Well. It looks like with this Twitter subterfuge, he is now multi billionaire, but in cash. Now he just have to buy Twitter at whatever condition and he will still be multi-billionaire and own Twitter and Tesla.
- Slartie 4y agoIf he must buy TWTR at his advertised price with his own cash, he must liquidate way more TSLA - about 44bln$ worth, as far as I remember. He actually will have to liquidate way more, because liquidation is a taxation event, and he'll have to pay a significant percentage of his gains to the US government. I don't know how much he needs to liquidate, but I'd guess it's more like 60-70bln$. Liquidating such an amount of TSLA in a short time will not happen without significant reduction of TSLA stock price. Musk will probably still be a multi-billionaire afterwards, but it would cost him several billions on the TSLA and TWTR front, because he would have overpaid for TWTR, TSLA share price would have tanked and he would have paid billions in taxes.
- afiori 4y agoHe will most likely use loans with the stocks as collateral.
- carnitine 4y agoThe whole point is that he secured funding from third parties for the Twitter deal. He was never buying it alone.
- cma 4y agoHe said he is liquidating because that funding may fall through. He has a different idea of what funding secured means.
- blitzar 4y agoIn the (hopefully unlikely) event that Twitter forces this deal to close and some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock. @elonmusk 2:53 AM · Aug 10, 2022 50% chance that is a bs excuse to liquidate - 50% chance he has figured out he is totally screwed on the twitter lawsuit.
- giancarlostoro 4y agoI'm more astounded because I remember from 2015 or before, here on HN several threads for months on end popping up all about how Twitter was defrauding users with bots. Then it quietly disappeared and now we are hearing about it all over again. I don't know which users are bots, I know people can buy followers, are those the bots? If that's the full extent of it, it feels, so insignificant to me, however, they were apparently reporting usage metrics which included bots on the platform which was misleading to investors is what I remember being the issue back 5 or more years. What does this mean for Elon Musk? I'm not sure, but I wonder if he already knew about the bots or what.
- jbverschoor 4y agoBots can also be clickfarms (for example iOS ratings). While they are not boys, they a definitely not actual users.
- dragonwriter 4y ago“Twitter is defrauding users with bots” and “Musk is likely to lose his legal battle with Twitter” are not even loosely in tension.
- blitzar 4y agoI also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans @elonmusk April 25, 2022 On April 25, 2022 - Twitter's board of directors accepted Musk's buyout offer of $44 billion.
- boffinAudio 4y agoIt is going to be seriously disappointing, nay depressing, if - in 5 years time or so - we look back at this era and see the end of humanities greatest attempt to move to space, ruined because of the mobthink of Twitter. I sure hope Elon manages to get through the turmoil he has created - and incurred by stint of the raging hate-boners of liberals everywhere - and gets Starship completed and ready to rumble. Because nothing makes the imperative for the human race to move to space more clear than the ranting/raging rubble that calls for the blood of any human being who dares to raise the bar and yet still makes a few rude unforgivable mistakes along the way .. Seriously, I hope we get Starship, whatever happens. If that is canned because Musk was eaten by cannibals, its going to be a very, very disappointing result.
- elkos 4y agoHave you considered that maybe Elon's involvement in SpaceX can be problematic for the advancement of their activities?
- boffinAudio 4y agoI seriously doubt SpaceX would be where it is today without Elon getting people motivated. We'd just have another SLS pork-barrel space company, which was the norm before Elon came along.
- kbelder 4y agoElon's flakey and a bit crazy, but SpaceX's progress would not have happened without him. If he left it, their progress would immediately slow.
- cma 4y agoShotwell would take over and is just as flakey and bit crazy. She told investors we'll likely have passenger rocket flights in 6 years (2028) so she could fly to Riyadh for lunch and that tickets would cost between economy and business class: “Because I travel a lot, and I do not love to travel. And I would love to get to see my customers in Riyadh, leave in the morning and be back in time to make dinner.” Shotwell said the rockets would be cost competitive with long-haul airline flights because of their ability to make several trips a day." They doubled down a year or two ago and said that timeline was still on track. Think about what they are saying critically.