Twitter Sued for Nonpayment of Rent on San Francisco Office

Post by starkd » Sun, Jan 01, 2023, 9:29 PM UTC

darth_avocado wrote: post #139

starkd wrote: post #79

Earlier quoted context omitted.

They had to cut costs to keep away from the "fast lane to bankruptcy". When not pulling in enough revenue, you have to act quickly. https://youtu.be/HE5CTKqWEV0?t=3570 Wasn't twitter supposed to stop working by now? They are still functioning, despite the layoffs. Maybe it worked?

> Wasn't twitter supposed to stop working by now? They are still functioning, despite the layoffs. Maybe it worked? It is mostly because the people left are working twice as much, long hours, holidays, weekends. And if you actually use the app, half the things aren’t working. Plus, your argument is more like “I fired the gardener after he tended the yard, it’s been a week, the yard looks just fine. Maybe I didn’t nee…

Post by starkd » Sun, Jan 01, 2023, 9:35 PM UTC

giaour wrote: post #116

starkd wrote: post #96

Earlier quoted context omitted.

It was not really an outage. Devices had to login again. I noticed having to do that.

Your experience was not the sum total of the incident. There was indeed a partial outage: https://news.yahoo.com/twitter-down-thousands-users-downdete...

Post by rchaud » Sun, Jan 01, 2023, 10:25 PM UTC

Post by skippyboxedhero » Sun, Jan 01, 2023, 10:27 PM UTC

082349872349872 wrote: post #201

skippyboxedhero wrote: post #183

Earlier quoted context omitted.

And look at HY indexes. The marks that have been in the media are roughly where other HY bonds have moved. Banks have bids but they are seeking bids from hedge funds that trade in distressed debt, who are obviously going to bid with a markup (the same thing happened with British corporates a few months, because pension funds had to sell they had to take bids from hedge funds so the bonds went from 100 t0 90 for AAA s…

> The 50% markdown that Fidelity is taking means that it is worth more than $20bn. Care to explain? When the debt is already being marked down, how does the equity have any positive value? (other than maybe extreme variance, but I still don't see how that gets anywhere near 20?)

Post by jacooper » Sun, Jan 01, 2023, 10:32 PM UTC

rchaud wrote: post #216

nrp wrote: post #104

It’s not made obvious by the article, but this lawsuit is for non-payment on a lease of one floor of 650 California St, not for non-payment on the 1355 Market St headquarters. They are also not paying rent at the latter, so presumably another lawsuit is coming. My assumption though is that they have already vacated the now extraneous space at 650 California and will settle with the landlord to break the lease.

The article references the NYT as reporting they're not paying rent anywhere: > Twitter hasn’t paid rent on its headquarters, or any of its other global offices, in weeks, the New York Times reported on Dec. 13.