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For starters, he spent tens of billions of his own money and $13B in LBO loans in order to rage quit litigation he was losing. There never was a plan other than
by Zigurd 3y ago
For starters, he spent tens of billions of his own money and $13B in LBO loans in order to rage quit litigation he was losing. There never was a plan other than "I could flip it for less than a settlement would cost."
- meepmorp 3y agoThe marginal cost of a lawsuit and buying Twitter isn't much more than just agreeing to the sale, and there's a tiny chance of being able to get away with paying less. Why not just fight it out in court? I've seen some suggestions that he didn't want discovery to continue, but that seems rather speculative. It's kind of an odd outcome.
- rsynnott 3y agoIf you're definitely going to lose a lawsuit, it generally makes sense to settle; saves wear and tear in lawyers. I assume his lawyers told him he had no hope. Persisting past the point where he had no hope would be particularly silly in this case, as that would not only raise his legal bills, but also _Twitter's_ legal bills, which he was about to inherit. (Note that he's trying to sue Twitter's lawyers over those bills now...) > It's kind of an odd outcome. It's really not. Civil stuff rarely goes to trial, in the scheme of things. If there's no doubt of the outcome, anyone even vaguely sensible will settle.