Is it ironic that a text image is used by Twitter to bypass character limits on a post? This has to be a usability nightmare for differently abled people.
Differently abled?
Elon has decided not to join our board
131–140 of 542 posts
Re: Elon has decided not to join our board
#132Earlier quoted context omitted.
>> hence the 'I believe this is for the best' affirmation line from Agrawal himself He also says in the previous paragraph that they [had?] believed that having Musk on the board would "be the best path forward." It's sort of a Rorschach test. You could divine either opinion you wanted from the post.
The CEO's job, much like a politician's, often involves giving out statements that are a series of Rorschach tests. That's what you do to appease and assuage multiple parties simultaneously.
Maybe that’s why Dorsey left
Re: Elon has decided not to join our board
#133A very odd set of events and no explanation regarding Elon's change of mind. A pessimist would think that Elon has decided to go for a "hostile" takeover since he is no longer bound by the percentage holding cap. An optimistic would think that Elon had enough self-awareness to realize it would be an overall distraction for Twitter with little benefit. It amuses me more than it should that the CEO of Twitter has poste…
There is absolutely no chance that this was Elon's decision. He was pushed out, most likely because of his recent shitposting about turning the Twitter office into a homeless shelter.
Re: Elon has decided not to join our board
#134It's amazing someone with that much money can still act like a total loser.
Re: Elon has decided not to join our board
#135Serious question: Who cares?
I am not trying to make a joke or seem edgy. Literally, what group of people is actually impacted by this by first or second order effects of…whatever the hell this story entails?
In other words, this is on the front page of hacker news. Why?!
Re: Elon has decided not to join our board
#136Matt Levine on point: Twitter’s relatively new chief executive officer, Parag Agrawal: Welcome, Mr. Musk. We’re so glad that you are our biggest shareholder. We have prepared a presentation showing how we are executing on our strategy of being more technically nimble, building new products and growing revenue and active users. Here on slide 1 you can see— Elon Musk: Make the font bigger when I tweet. Agrawal: What? M…
> I am pretty sure that the Elon Musk Division of the U.S. Securities and Exchange Commission has already opened another inquiry into this filing. Elon Musk had acquired at least some of his shares by March 14, and on March 26 he was asking his followers “what should be done” about Twitter’s “failing to adhere to free speech principles.”
Wow. What a paragraph.
> I think in general if you went to a securities lawyer and said “I am going to buy 9% of a public company and then make public statements about how it should change its business, should I file a 13D or 13G,” the lawyer would say “hmm that sounds like activism, which is traditionally on 13D.” (Not legal advice!) But if you are Elon Musk you do not accept that sort of fuzzy reasoning.
Rules for thee, but definitely not Elon.
Re: Elon has decided not to join our board
#137Re: Elon has decided not to join our board
#138Re: Elon has decided not to join our board
#139This particular instance aside, what possible sane regulatory changes could discourage this sort of manipulation? Modern social media is poking holes in a system that reacts too slowly and too inconsistently when questionable actors stir the pot. The only thing I can think of is a slower exchange, where trades happen on the order of days, or better yet weeks or months, where this sort of thing becomes a wash. I have…
Is this type of manipulation really a result of social media? It was entirely possible before: rich investor announces purchasing of a large stake in public company, event is reported in traditional media (newspapers), rich investor is offered and accepts board seat, rich investor backs out.
Not new at all. What I think might be new is the confluence of that type of manipulation with a much more primitive pump style that's been greatly amplified by social media.
When I was about 21, I opened my first trading account. On E*Trade. Early days for online trading. I spent a lot of time researching stocks, but I was just a kid and was pretty unhip to the many ways things could be manipulated. Thank God there wasn't WSB at that point. So one night I'm sitting at a restaurant bar, waiting for food, and these two stock brokers are sitting next to me talking about a series of trades they were planning on a penny stock, a startup drug company. Natch, I listened in and they noticed and were happy to share their inside info with me. "It's $0.10, just make sure you unload it at $0.50. No more than a week." Great. I went home, looked at this thing, and put in an order for about a third of my savings. It was an OTC stock. Three days later, it shot up to $0.60 and I tried to sell it. And........ nothing happened. E*Trade was a no go. Couldn't make them execute it on the phone. The stock started to spiral. Next day, no sale. No market maker. No one buying. Stock collapsed to $0.05. I called my dad and told him about this wild ride and all he said was, "you got hustled by those guys at the bar." And incredibly, that had never occurred to me.
Take that level of innocence, multiply by a few million young investors on social media who think Elon is Jesus, and, well, market manipulation can scale up exponentially.