11–20 of 20 posts
He is possibly one of the most successful CEOs in history. He managed to sell something almost worthless for 44 billion
It wasn't worthless when he sold it, it's only worthless now because Musk saddled it with $13Bn of debt that he to service and tanked revenue. Twitter was definitely ~$20Bn company minimum when the deal actually closed.
How does indemnification typically work for employees? I've often seen it included in contracts. > We contacted Twitter about the lawsuit today. The company continues to auto-reply with a poop emoji to all requests sent to its public relations email address. Bizarre.
The bylaws impose way way more requirements to getting paid than Ars is letting on. The expense has to be "reasonably incurred" (not just reasonable evidence that it was incurred), the plaintiffs need to have "acted in good faith", "be in or not opposed to the best interests of the corporation", and had "no reasonable cause to believe such person's conduct was unlawful" and payment "may be so paid upon such terms and conditions, if any, as the corporation deems appropriate".
How does indemnification typically work for employees? I've often seen it included in contracts. > We contacted Twitter about the lawsuit today. The company continues to auto-reply with a poop emoji to all requests sent to its public relations email address. Bizarre.
>>"Over two months after Plaintiffs' initial written demand, the Company offered only a cursory acknowledgment of receipt, but still refused to acknowledge its obligations and to remit payment of any invoices."
I've gone from seriously respecting Musk to the extent of posting multiple defenses of him on HN, to now seeing that he consistently promotes authoritarianism, screws employees, and is a professional deadbeat.
Getting one of his cars was something that I just expected to do soon-ish (once I needed one and they fixed the quality and service issues). Now? No way I'd even consider it.
I've seen the same trend on HN. It used to be near-universal praise for his works before a good measure of skepticism crept in. Now, he's almost universally reviled. This is the exact opposite of the trend he needs, as Guy Kawasaki lead Apple marketing - get the experts, leaders, power users on your side, and they'll influence everyone else. Musk is now doing the opposite.
Even Paul Graham is now trolling Musk (and we cn watch it go right over Musk's head in this hilarious exchange [0].
[0] https://www.indiatimes.com/technology/news/paul-graham-roast...
Just another example of Musk being a prick. This isn't even about money - any reasonable sized company has D&O Insurance which covers the legal costs for executives in exactly this situation, so if they wanted to they could just hand over the money, claim it on the insurance and it wouldn't cost them much. What's interesting is that this has been filed in Delaware, but Musk in the last few days just completed paper w…
What are the odds he's been paying that bill?
Just another example of Musk being a prick. This isn't even about money - any reasonable sized company has D&O Insurance which covers the legal costs for executives in exactly this situation, so if they wanted to they could just hand over the money, claim it on the insurance and it wouldn't cost them much. What's interesting is that this has been filed in Delaware, but Musk in the last few days just completed paper w…
Just another example of Musk being a prick. This isn't even about money - any reasonable sized company has D&O Insurance which covers the legal costs for executives in exactly this situation, so if they wanted to they could just hand over the money, claim it on the insurance and it wouldn't cost them much. What's interesting is that this has been filed in Delaware, but Musk in the last few days just completed paper w…
Why should the new owner pay the legal expenses for an ex-CEO that brought these legal issues upon himself?
> An attorney for Agrawal, Gadde, and Segal provided Twitter an invoice for legal expenses "which reasonably evidence that Plaintiffs have incurred Expenses in excess of $1 million, all of which is required to be advanced to Plaintiffs," the lawsuit filed today said. The bylaws impose way way more requirements to getting paid than Ars is letting on. The expense has to be "reasonably incurred" (not just reasonable evi…
How does indemnification typically work for employees? I've often seen it included in contracts. > We contacted Twitter about the lawsuit today. The company continues to auto-reply with a poop emoji to all requests sent to its public relations email address. Bizarre.
It's unbelievably childish and unprofessional.
Just another example of Musk being a prick. This isn't even about money - any reasonable sized company has D&O Insurance which covers the legal costs for executives in exactly this situation, so if they wanted to they could just hand over the money, claim it on the insurance and it wouldn't cost them much. What's interesting is that this has been filed in Delaware, but Musk in the last few days just completed paper w…
> any reasonable sized company has D&O Insurance What are the odds he's been paying that bill?
Tesla no longer has D&O insurance since they're uninsurable after their D&O insurance settled a shareholder derivative lawsuit (I think it was over the solar city bailout but maybe it was over 420 secured).