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xAI has acquired X, xAI now valued at $80B

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Re: xAI has acquired X, xAI now valued at $80B

#231
post #188

Earlier quoted context omitted.

From what I have been told (specific to the US army): - Enlisted swear oaths to the constitution and President - Officers swear an oath to the constitution I’ve only been told this, I don’t claim to know.

They swear that they will obey lawful orders from their commanders, all the way up to the President.

Who decides whether order is lawful or not?

Re: xAI has acquired X, xAI now valued at $80B

#232
post #188

Earlier quoted context omitted.

That military apparatus is sworn to uphold the Constitution, not support the current president.

From what I have been told (specific to the US army): - Enlisted swear oaths to the constitution and President - Officers swear an oath to the constitution I’ve only been told this, I don’t claim to know.

So why post it?

Re: xAI has acquired X, xAI now valued at $80B

#234
post #209

Earlier quoted context omitted.

"Nice bank you've got there. Would be a shame if ________" (Insert any number of orders that Musk can have his friends in the executive branch issue to make life miserable for the bank principals.) It's good to be the king. Even better to own him.

Case in point: https://apnews.com/article/trump-law-firm-mueller-fc64fcda09... > A prominent international law firm reached a deal with President Donald Trump on Friday to dedicate at least $100 million in free legal services and to review its hiring practices, averting a punishing executive order like the ones directed at nearly a half-dozen other major legal institutions in recent weeks. This isn't theoretical. It'…

Wow, I thought the sum was $40 million, but that's what the other law firm paid that showed a lack of principles and caved...

And another law firm is being blackmailed because it used to employ someone who worked for Robert Mueller (of the Trump-Russia collusion investigation)... Geez Trump's team is actually busy, but busy settling old scores.

Re: xAI has acquired X, xAI now valued at $80B

#235
post #216

There's a lot of negativity here, but tbh, it makes complete sense. Grok and X are really tightly integrated already, and it was strange that they were separate enterprises to begin with. That part was odd. Fixing it isn't odd.

What can Grok do that’s worth $80B?

Re: xAI has acquired X, xAI now valued at $80B

#236

He has done this move before with Tesla buying Solar City. When you do a deal with yourself you can assign any value you want to assets, it isn’t a competitive process. In the previous case Solar City was dying but its acquisition by Tesla was pitched as a great synergy. https://www.businessinsider.com/solarcity-tesla-energy-belea... There were a few lawsuits from Tesla shareholders about the acquisition regarding se…

You’re burying the lede here, which is that the Delaware Chancery Court rules that Tesla had paid a fair price for Solar City: https://www.businessinsider.com/elon-musk-wins-solarcity-tes...

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Re: xAI has acquired X, xAI now valued at $80B

#237

I'd feel great being someone that financed the takeover of X/Twitter, and being stuck with inflate shares in an also-ran AI play. Obviously there is no rule of law for Musk, and no recourse for them. He'll keep his ball of twine rolling past TSLA's next earnings date on April 22nd.

Why would someone be upset over getting xAI on top of having twitter equity?

Re: xAI has acquired X, xAI now valued at $80B

#238
post #102

Earlier quoted context omitted.

Company directors are generally given wide latitude in what they can do without breaching fiduciary duty, so such lawsuits were always going to be an uphill battle.

An acquisition is a special case (for the company being acquired) and the scrutiny is somewhat higher. At least in Delaware. I have no idea what corporate law is like in Texas.

No X shareholder in their right mind will object to getting a $45 billion valuation (including debt) when their latest valuations have the company at <$10 billion.

Re: xAI has acquired X, xAI now valued at $80B

#239
post #122
post #12

I get a kick out of how the link in this story is "twitter.com" instead of "x.com". Personally, I think everyone should just continue to say "Twitter."

> Personally, I think everyone should just continue to say "Twitter." Because…?

I also continue to say Twitter and prefer others to also do so because X is a terrible name to search for. It has too many common uses besides as the new name for Twitter so there are way too many false positives.

For example let's say you want to see all the times you've mentioned that site in your HN comment history. If you search for "author:tomcam twitter" in the search thingy at the bottom of most HN pages it turns up 34 comments and it looks like all of them are actually about that site or contained links to content on that site.

Change that to "author:tomcam x" and there are 13 comments. Only 4 of those are using X to mean Twitter. The x in the others come from OS-X, X-rated (in two comments), 2796 x 1290, x.into(), X.js, X-Files (in two comments), 4 x 8.

Re: xAI has acquired X, xAI now valued at $80B

#240

Earlier quoted context omitted.

They swear that they will obey lawful orders from their commanders, all the way up to the President.

Who decides whether order is lawful or not?

A soldier comes to their own assessment then a court martial decides later on if they agree. Just like every other form of action: do what you believe is within bounds, then find out later if the courts agree
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