It’s funny that the first paragraph of the letter says they believed it was best for Elon to join the board.
Then the second paragraph says that Elon declined to join the board and they believe it was also for the best.
Elon has decided not to join our board
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Re: Elon has decided not to join our board
#12Was this all calculated stock manipulation? It feels like Musk’s modus operandi: 1: Invest in something, 2: Tweet about it. 3: Grossly violate FTC regulation, 4: profit
Musk usually doesn't do the profit part, which is why he can settle with the SEC for pennies (relatively speaking).
Didn't he profit (in terms of net worth, I guess he didn't realize any gains yet) by not disclosing when he hit the 5% mark?
Re: Elon has decided not to join our board
#13Was this all calculated stock manipulation? It feels like Musk’s modus operandi: 1: Invest in something, 2: Tweet about it. 3: Grossly violate FTC regulation, 4: profit
The reality is folks valued his potential input. That said I think a board role was a bad fit. He'd have to agree not to acquire more stock (he could personally easily buy 51% of twitter - 4% of his net work probably). Also, he's too strong minded. A recap of his ideas: * A limited edit button. * Move it to a paid service * No ads to avoid corp pressure to censor voices. My guess - he'd be in a conflicted position if…
It's about 7% fwiw (although it would cost him some more in taxes to get the cash to do so, he'd have to sell Tesla and realize gains).
Re: Elon has decided not to join our board
#14Was this all calculated stock manipulation? It feels like Musk’s modus operandi: 1: Invest in something, 2: Tweet about it. 3: Grossly violate FTC regulation, 4: profit
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Re: Elon has decided not to join our board
#15hmmm not sure how I feel about this. I bought Twitter stock after I knew he will be joining the board.
Hopefully he has something bigger in mind.
Re: Elon has decided not to join our board
#16This particular instance aside, what possible sane regulatory changes could discourage this sort of manipulation? Modern social media is poking holes in a system that reacts too slowly and too inconsistently when questionable actors stir the pot. The only thing I can think of is a slower exchange, where trades happen on the order of days, or better yet weeks or months, where this sort of thing becomes a wash. I have…
Is this type of manipulation really a result of social media? It was entirely possible before: rich investor announces purchasing of a large stake in public company, event is reported in traditional media (newspapers), rich investor is offered and accepts board seat, rich investor backs out.
Re: Elon has decided not to join our board
#17Was this all calculated stock manipulation? It feels like Musk’s modus operandi: 1: Invest in something, 2: Tweet about it. 3: Grossly violate FTC regulation, 4: profit
The reality is folks valued his potential input. That said I think a board role was a bad fit. He'd have to agree not to acquire more stock (he could personally easily buy 51% of twitter - 4% of his net work probably). Also, he's too strong minded. A recap of his ideas: * A limited edit button. * Move it to a paid service * No ads to avoid corp pressure to censor voices. My guess - he'd be in a conflicted position if…
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Re: Elon has decided not to join our board
#18Earlier quoted context omitted.
The reality is folks valued his potential input. That said I think a board role was a bad fit. He'd have to agree not to acquire more stock (he could personally easily buy 51% of twitter - 4% of his net work probably). Also, he's too strong minded. A recap of his ideas: * A limited edit button. * Move it to a paid service * No ads to avoid corp pressure to censor voices. My guess - he'd be in a conflicted position if…
It's about 7% fwiw (although it would cost him some more in taxes to get the cash to do so, he'd have to sell Tesla and realize gains).
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Re: Elon has decided not to join our board
#19A very odd set of events and no explanation regarding Elon's change of mind. A pessimist would think that Elon has decided to go for a "hostile" takeover since he is no longer bound by the percentage holding cap. An optimistic would think that Elon had enough self-awareness to realize it would be an overall distraction for Twitter with little benefit. It amuses me more than it should that the CEO of Twitter has poste…
maybe his lawyers informed him he made a mistake. he filed the disclosure on Schedule 13G which prevents him from joining the board, rather than 13D if he wants to do so.
but then again, i wouldn't put it past elon to do all the things that the SEC explicitly tells people not to do.
Re: Elon has decided not to join our board
#20A very odd set of events and no explanation regarding Elon's change of mind. A pessimist would think that Elon has decided to go for a "hostile" takeover since he is no longer bound by the percentage holding cap. An optimistic would think that Elon had enough self-awareness to realize it would be an overall distraction for Twitter with little benefit. It amuses me more than it should that the CEO of Twitter has poste…
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