Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Elon has decided not to join our board

twitter.com

Post reply on HN
Print view View original

231–240 of 542 posts

Re: Elon has decided not to join our board

#231

Post by cloutchaser »

basisword wrote: post #218

Not a surprise if you’ve read any of Musk’s tweets this past weeks. He sounds unhinged. He’s like Kanye West. Occasionally says and does great things but more often than not is tweeting nonsense that could damage the company/brand. You cannot have a board member polling users as to whether or not HQ should be converted to a refugee for the homeless. The uncertainty and stress nonsense like that must cause for employe…

Or he can buy more than 14.9% now, get more of his own people on the board, and fire everyone that way.

The uncertainty isn’t going away for the wonderful balanced people running Twitter /s

Re: Elon has decided not to join our board

#232

Post by Zerverus »

systemvoltage wrote: post #220
mike_d wrote: post #216

Earlier quoted context omitted.

There is no agreement on terms. As a member of the board you are required by law to always do and say what is in the best interests of the company and its shareholders. Someone probably sat him down and explained that he doesn't hold a majority of voting shares at Twitter, and that the company and other investors wouldn't put up with his shit. With a 75% majority, the other shareholders could vote to nullify his shar…

> With a 75% majority, the other shareholders could vote to nullify his shares and make them worthless. This is unbelievable. Can you share a credible source?

See Facebook founders

:shockedpicachu: when Americans find out that corporate governance isn’t nearly as restrictive as democracy.

Re: Elon has decided not to join our board

#233

Post by k8sToGo »

andreyk wrote: post #121

So amusing. If you haven't seen some of Elon Musk's antics leading up to this, you really should: Today - [image] 'In all fairness your honor, my client was in "goblin mode"' https://twitter.com/elonmusk/status/1513244730720616448 Yesterday: "Everyone who signs up for Twitter Blue (ie pays $3/month) should get an authentication checkmark" https://twitter.com/elonmusk/status/1512946176244473863 [poll] "Delete the w in…

He seems to have cleaned up some of them.

Re: Elon has decided not to join our board

#234

Post by yumraj »

nocoiner wrote: post #206
yumraj wrote: post #165

FWIW, I believe the key line is this: We believed the best path forward was having Elon as a fiduciary of Twitter where he, like all board members, must act in the best interests of our company and our shareholders. The fact that Elon would have had to act in the best interest of Twitter and not his own might have been the deal breaker. OTOH, I was preparing myself to read that Elon has forced Twitter to enable Trump…

I think that Delaware has a takeover statute that’ll basically for the next few years prevent Musk from effecting a hostile takeover without the support of the board. And if he acquirers enough shares to to become a “controlling” stockholder, he’ll owe fiduciary duties to the rest of the stockholders based on his status as a controller.

Good info, didn’t know that.

But, if he acquires a controlling stake he can vote his own board and go that route. Either ways I don’t see this ending well for Twitter - though may not happen in time for the midterm elections. 2024, who knows..

Re: Elon has decided not to join our board

#235

Post by vintermann »

gordon_freeman wrote: post #145
noduerme wrote: post #101

Earlier 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.

It seems to me that Parag welcomed initially for Elon to be on the Board but then the tweetstorm Elon sent on Dying company, Twitter SF HQ, removing ads from their Subscription and accepting Doge for it, and the current Board/CEO may have thought that all this would be too much to handle so they may have pushed him out of the Board? Sounds like this tweet storm over the weekend may have contributed to this outcome.

When it's Elon, you got to wonder if he did the whole thing to embarrass them. They can't stand him, but for a brief while he made them pretend to welcome him.

Re: Elon has decided not to join our board

#236

Post by seadan83 »

axg11 wrote: post #43
camjohnson26 wrote: post #26

Quoted post unavailable.

Everything you said is true but there is an alternative perspective: Elon founded two of the most successful companies in existence. Both companies heavily innovated on hard technological problems in order to achieve commercial success. Hence, he's an operator with experience solving difficult challenges, making him qualified for the board seat.

"Two of the most successful companies in existence"

Tesla, at bill profit, is about half an order of magnitude away from being in the top 10 most profitable: https://www.investopedia.com/the-world-s-10-most-profitable-...

So surely a successful company. At this juncture, one of the most successful ever in existence? Hype.

Re: Elon has decided not to join our board

#237

Post by cloutchaser »

systemvoltage wrote: post #220
mike_d wrote: post #216

Earlier quoted context omitted.

There is no agreement on terms. As a member of the board you are required by law to always do and say what is in the best interests of the company and its shareholders. Someone probably sat him down and explained that he doesn't hold a majority of voting shares at Twitter, and that the company and other investors wouldn't put up with his shit. With a 75% majority, the other shareholders could vote to nullify his shar…

> With a 75% majority, the other shareholders could vote to nullify his shares and make them worthless. This is unbelievable. Can you share a credible source?

I don’t think that’s right. They could issue new shares to dilute him but then you’d need people to buy those and the money needs to arrive in the business.

It would also probably mean Twitter shares crashing to 0 in the public markets, not exactly in the interest of the 75%

Re: Elon has decided not to join our board

#239

Post by jamiek88 »

perihelions wrote: post #77
pen2l wrote: post #70

Earlier quoted context omitted.

Thanks for the diff! But for the love of god would you please enable word-wrapping? I'm so sorry to continue: please introduce some padding while you're at it; the text being so close to the window borders in stock emacs is so offputting. Signed with love, a recent emacs convert. edit: I see word-wrapping now, thanks!

I've uploaded a new version with word-wrapping. Sorry for that! Yeah, my emacs config is a work in progress.

> Yeah, my emacs config is a work in progress

Hahaha Sisyphus had a similar problem

Re: Elon has decided not to join our board

#240

Post by smilespray »

tallytarik wrote: post #186
perihelions wrote: post #27

Earlier quoted context omitted.

- "CEO of Twitter has posted an image of text (from the iOS Notes app?)" At least he made the effort to include accessible alt-text. (Interestingly, the accessible text differs *slightly* from the picture-of-text version -- different draft revisions? Even social media CEO's don't seem comfortable with this workflow). edit: here's a diff with highlighting: https://i.imgur.com/R9wf2H5.png I'm relying on Verge's transcr…

That diff is a great lesson in Plain English. The version that looks ~50% longer provides no additional information.

True for every language
Post reply on HN