3 ms·

What? Why? You can’t run a business like that for very long. 1-2 years max. Then all the law suits will eat you up. Deliberately not paying may lead to crimin

by andix 4y ago

What? Why? You can’t run a business like that for very long. 1-2 years max. Then all the law suits will eat you up. Deliberately not paying may lead to criminal charges too.

yks 4y ago
Certain individuals like Elon might have acquired a not completely unfounded belief that “rule of law” in fact does not apply to them personally.
- deleted 4y ago
  [deleted]
- acjacobson 4y ago
  You'd think he'd be disabused of that notion when he was forced to buy Twitter after trying to back out of the acquisition agreement.
  - theCrowing 4y ago
    but he wasn't forced... he could've been but we will never know.
    - kibwen 4y ago
      He spent months publicly attacking Twitter and damaging the platform while trying to weasel out of the contract he foolishly signed. To suggest that it was all an act and that he willingly had a change of heart after being taken to court would be beyond credulity.
matwood 4y ago
Bankruptcy was already a high likelihood from the deal terms, though I expected later in ‘23. I see the non-payment news as evidence it may come sooner.
fleddr 4y ago
Well, Twitter was a zombie company already. It almost went bankrupt in 2016, they offered to sell but nobody wanted it. Trump and the media explosion to follow bought them some time. Twitter cannot grow because it is unappealing to the masses. Where every other social network has skyrocketed in recent years, Twitter is stagnant. Well over a billion people have signed up for Twitter, but over 75% immediately abandon it. Which is not true for Instagram, Tiktok, the like. Of the few accounts that are sticky, most never post anything. The vast majority of Twitter activity is a tiny elite group of politicians, journalists and celebrities posting hot takes which are then passively consumed or retweeted (which Twitter conveniently counts as a new tweet). Before the Musk take-over there was already a plan to do 800M in cuts, the company was already in existential trouble and very poorly managed throughout its life. Bottom line is that Musk paid a top price for absolute junk.

by andix 4y ago

What? Why? You can’t run a business like that for very long. 1-2 years max. Then all the law suits will eat you up. Deliberately not paying may lead to criminal charges too.

yks 4y ago

Certain individuals like Elon might have acquired a not completely unfounded belief that “rule of law” in fact does not apply to them personally.

deleted 4y ago
[deleted]
acjacobson 4y ago
You'd think he'd be disabused of that notion when he was forced to buy Twitter after trying to back out of the acquisition agreement.
- theCrowing 4y ago
  but he wasn't forced... he could've been but we will never know.
  - kibwen 4y ago
    He spent months publicly attacking Twitter and damaging the platform while trying to weasel out of the contract he foolishly signed. To suggest that it was all an act and that he willingly had a change of heart after being taken to court would be beyond credulity.

matwood 4y ago

Bankruptcy was already a high likelihood from the deal terms, though I expected later in ‘23. I see the non-payment news as evidence it may come sooner.

fleddr 4y ago

Well, Twitter was a zombie company already. It almost went bankrupt in 2016, they offered to sell but nobody wanted it. Trump and the media explosion to follow bought them some time. Twitter cannot grow because it is unappealing to the masses. Where every other social network has skyrocketed in recent years, Twitter is stagnant. Well over a billion people have signed up for Twitter, but over 75% immediately abandon it. Which is not true for Instagram, Tiktok, the like. Of the few accounts that are sticky, most never post anything. The vast majority of Twitter activity is a tiny elite group of politicians, journalists and celebrities posting hot takes which are then passively consumed or retweeted (which Twitter conveniently counts as a new tweet). Before the Musk take-over there was already a plan to do 800M in cuts, the company was already in existential trouble and very poorly managed throughout its life. Bottom line is that Musk paid a top price for absolute junk.