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Notice of termination of Twitter merger agreement

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Re: Notice of termination of Twitter merger agreement

#431

Post by zouhair »

timsneath wrote: post #17

It seems apparent to this observer that he developed cold feet pretty fast after an impetuous decision, and has been looking for any reason to back out of it since then. The spam accounts angle seems like a convenient scapegoat, rather than a real surprise to him. He's clearly eccentric in his approach to decision making: I don't think any Harvard Business School course will teach "the Musk Principles". But it's uncl…

Well his principles are mostly scamming tactics, because he is mostly a scammer.

Re: Notice of termination of Twitter merger agreement

#432

Post by whimsicalism »

minimaxir wrote: post #33
pclmulqdq wrote: post #4

I'm ready for the fireworks. Odds are he will be forced to go through with it, but he will negotiate a lower price. Edit: This is over the mDAU thing still? It's been explained to him very slowly that all the bots that post tweets all day are often not seeing ads, right? That the "monetizable" is a key part of that phrase?

His team apparently had a tough time verifying the data due to API rate limits. > While Twitter has provided some information, that information has come with strings attached, use limitations or other artificial formatting features, which has rendered some of the information minimally useful to Mr. Musk and his advisors. For example, when Twitter finally provided access to the eight developer “APIs” first explicitly…

> when Twitter finally provided access to the eight developer “APIs” first explicitly requested by Mr. Musk in the May 25 Letter, those APIs contained a rate limit lower than what Twitter provides to its largest enterprise customers. Twitter only offered to provide Mr. Musk with the same level of access as some of its customers after we explained that throttling the rate limit prevented Mr. Musk and his advisors from performing the analysis that he wished to conduct

So... they asked for an API, were provided with it, wanted an API with higher caps, and were provided with it. Their problem is that Twitter didn't properly anticipate the need?

Re: Notice of termination of Twitter merger agreement

#433

Post by duxup »

redeeman wrote: post #419
duxup wrote: post #185

Earlier quoted context omitted.

> But it's unclear to me what he initially thought he was getting out of this. The more it goes on it feels like “I don't like how twitter works, I’ll show them! ” Later: “Oh noes if I do what I want here the result might be bad…” It just feels like a YOLO business deal that wasn’t thought out the more this goes on.

isnt it also possible he (some might say rather impulsively) decided to buy twitter, and then upon further investigating finds that his quick rationales no longer make sense if bot traffic indeed is way above 5%? that perhaps he feels that if it indeed is way above 5%, twitter is scamming? is this just 100% unthinkable?

Wouldn’t he have made that part of the deal if that was a concern?

Fake followers and accounts and twitter’s battle with them is well known. Are we thinking he had no clue until after he signed on the dotted line?

Re: Notice of termination of Twitter merger agreement

#435

Post by ImPostingOnHN »

somenewaccount1 wrote: post #96
bryananderson wrote: post #13

Earlier quoted context omitted.

As Matt Levine explained [0] the “waiving due diligence” doesn’t really mean anything now. What does mean something is that he signed a binding agreement to buy Twitter, giving Twitter the right to compel him to close the deal, and there’s no “too many bots” exception, nor a “you were wrong (or even lied) about something you said” exception. He has to prove that it’s a “material adverse effect” which I understand is…

idk. the fact that the price had already sunk nearly 40% from his price over this period could clearly indicate that his assumption isn't without merit.

maybe if he can prove that his bot claims, and claims about twitter's willful fraud, are both true, and the reason everybody sold

Re: Notice of termination of Twitter merger agreement

#436

Post by kgermino »

elliekelly wrote: post #318
shuckles wrote: post #298

Earlier quoted context omitted.

Twitter has already said they'll sue for specific performance: https://twitter.com/btaylor/status/1545526087089696768

My heart sank when I read your comment: why on earth would the board sue for specific performance!? But my reading of the statement in the tweet is that they plan to sue for enforcement of the agreement which I believe means paying the agreed-upon penalty for backing out of the deal. I don’t at all read that statement as a plan to seek specific performance.

It’s not a penalty for backing out of the deal, it’s compensation if his financing falls through. Musk doesn’t have a discretionary out here.

Re: Notice of termination of Twitter merger agreement

#437

Post by ImPostingOnHN »

collegeburner wrote: post #75
camjohnson26 wrote: post #31

Earlier quoted context omitted.

Matt Levine has a take down of the supposed bot problem. Basically Elon not only waved due diligence, he signed a binding agreement to buy Twitter, and the bot talk is irrelevant. Even if there’s a problem, Musk should have addressed it before signing an agreement to buy the company. https://twitter.com/matt_levine/status/1545151445057536001?s...

Tbh i haven't read the agreement and i'm not going to but representations and warranties is generally grounds to terminate.

afaik there are no material representations or warranties made by twitter which elon has proven false

Re: Notice of termination of Twitter merger agreement

#438

Post by ImPostingOnHN »

Covzire wrote: post #130
camjohnson26 wrote: post #49

Earlier quoted context omitted.

Musk has released nothing that would indicate that the numbers are fraudulent.

Read the SEC filing?

bare assertions by elon on a matter touching his pride seem more likely to indicate the opposite is in fact true

e.g. elon calling some dude who wounded his pride on twitter, a "pedo"

Re: Notice of termination of Twitter merger agreement

#440

Post by [deleted] »

pryce wrote: post #155
atlasunshrugged wrote: post #60

Earlier quoted context omitted.

There's another belief floated by Josh Wolfe (an investor with Lux Capital) who claimed it was a ruse to liquidate Tesla stock en masse without Tesla hodlers getting suspicious and tanking the inflated stock price. https://twitter.com/wolfejosh/status/1545387947578597376

If someone's stock is as incredibly overinflated as Tesla has been for so long, choosing the most effective way to liquidate stock without triggering a run becomes a social engineering problem with the incentive of a multi-billion dollar payoff. Honestly I think other people trying to read this situation in some way that ignores a multi billion dollar incentive just sitting there is utterly naive.

[deleted]
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