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Musk buys a big chunk of Twitter

Discussion in 'Too Hot for Swamp Gas' started by rivergator, Apr 4, 2022.

  1. 96Gatorcise

    96Gatorcise GC Hall of Fame

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    Being a racist or sexist isn't illegal, posting someone's address without their knowledge is illegal.
     
  2. rivergator

    rivergator Too Hot Mod Moderator VIP Member

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    You sure about that?
     
  3. 96Gatorcise

    96Gatorcise GC Hall of Fame

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    Obviously it depends on the context. Applying your racism/sexism from a position of authority is illegal. Posting on a social media platform shouldn't be.
     
  4. Spurffelbow833

    Spurffelbow833 GC Hall of Fame

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    How about "Elon Musk's Too Hot for Swamp Gas"? I like the sound of that.
     
    • Funny Funny x 3
  5. GatorNorth

    GatorNorth Premium Member Premium Member

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    No, but it will earn you a hell of a slap by an overprotective spouse witnessed by tens of millions of people.
     
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  6. GatorNorth

    GatorNorth Premium Member Premium Member

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    There are plenty of places to find someone's address on the internet, starting with your county tax assessor's records if you own your home. It's bad form, but I don't necessarily think its illegal per se, is it?
     
    • Agree Agree x 1
  7. rivergator

    rivergator Too Hot Mod Moderator VIP Member

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  8. gatorchamps960608

    gatorchamps960608 GC Hall of Fame

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    Someone was scared of the background check. Interesting.
     
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  9. 96Gatorcise

    96Gatorcise GC Hall of Fame

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    I wouldn't be surprised if the reason he turned it down was because he is planning on buying more shares greater then the 14.9% he would have been limited to by being on the board.
     
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  10. PerSeGator

    PerSeGator GC Hall of Fame

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    I wouldn't be surprised if Twitter adopts a poison pill to prevent that sort of thing (if it doesn't have one already). Particularly since Musk bought his existing stake in secret off the public exchanges, effectively giving him a huge discount.

    If Musk wants control of the company, my guess is the existing board is going to demand a pretty steep premium, and won't just let him buy shares until he reaches 51%.

    Could be that Musk realized that he was being boxed out and threw in the towel. Who knows.
     
    • Informative Informative x 1
  11. g8rjd

    g8rjd GC Hall of Fame

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    When someone explains that owing a fiduciary duty to a company means you can’t engage in a hostile takeover of it, it probably put a real wet blanket on his day.

    The last paragraph of the statement is really telling.



    “There will be distractions ahead, but our goals and priorities remain unchanged. The decisions we make and how we execute is in our hands, no one else's. Let's tune out the noise, and stay focused on the work and what we're doing.”

    As @PerSeGator noted, the poison pills are coming.
     
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  12. gatorpa

    gatorpa GC Hall of Fame

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    As is hate speech
     
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  13. slightlyskeptic

    slightlyskeptic All American

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    Yeah, he learned his lesson as a company officer/board member about saying exactly what he wants at Tesla. I’m sure they offered the board seat to try and shut him up or at least keep him from saying things about Twitter publicly. He likes using polls to take the pulse of Twitter users. Can’t do that as a board member. The current CEO is an arrogant doosh who wants to determine what people see and wants to influence how they think. This is going to continue to be fun to watch.
     
  14. GatorNorth

    GatorNorth Premium Member Premium Member

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    Twitter offers Musk a board seat and he immediately begins tweeting criticisms of the company. So they revoke the offer.

    Pass the popcorn. This will be fun to watch.
     
  15. oragator1

    oragator1 Premium Member

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    Yeah, I doubt it’s the background
    Check (though you never know), and more the belief that he can be a bigger disruptor from the outside than the inside. He can say what he wants when he wants, buy more shares, and even dump them and crash the stock to make his point if he wants to.
     
  16. g8rjd

    g8rjd GC Hall of Fame

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    I mean, he posted this when he was literally being handed a board seat.



    Trying to depress the stock price of a company you owe a fiduciary duty to? Yeah, not so smart.

    (Also, stupid post because most followers doesn’t mean most engagement.)
     
  17. g8trjax

    g8trjax GC Hall of Fame

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    'Billionaire Elon Musk’s reversal of his decision to join Twitter’s board opens the door to a hostile takeover and could lead to additional volatility in the stock, according to analysts'. :emoji_joy:
     
  18. rivergator

    rivergator Too Hot Mod Moderator VIP Member

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  19. g8rjd

    g8rjd GC Hall of Fame

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