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Elon’s Out

bloomberg.com

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Re: Elon’s Out

#11

Post by xiphias2 »

I don’t understand why we need to make things personal: a multibillionaire with practically unlimited resources is negotiating with a multibillion dollar corporation with practically unlimited resources.

It’s clear that the offer Elon got stuck with has an unrealistic price at this point (and Elon just want a reason to get out of the deal), just like it’s clear that Twitter’s management is incompetent in the last few years.

I just hope that there will be a lawsuit with juicy details so that I can get my popcorn, but I believe the 2 parties will settle.

Re: Elon’s Out

#13

Post by addicted »

xiphias2 wrote: post #11

I don’t understand why we need to make things personal: a multibillionaire with practically unlimited resources is negotiating with a multibillion dollar corporation with practically unlimited resources. It’s clear that the offer Elon got stuck with has an unrealistic price at this point (and Elon just want a reason to get out of the deal), just like it’s clear that Twitter’s management is incompetent in the last few…

Elon only got stuck with it because he explicitly waived the right to due diligence which would have protected him from all this.

He tried to act badass but came out looking like a dumbass.

Everything since is his effort to get out of this (which he will…one of the nice things about having a lot of money is that it’s very hard to lose, no matter how illegal whatever you’re doing is), but is also trying to pretend he didn’t do something really really dumb.

I see absolutely no reason to help Elon rewrite history especially when he could very well paid the penalty and walked away like he contractually agreed to, which would have ended the matter right there.

Re: Elon’s Out

#14

Post by [deleted] »

ReaLNero wrote: post #10

BTW, to those who don't know -- Money stuff is free if you subscribe to it as an email newsletter. Link: https://www.bloomberg.com/account/newsletters/money-stuff

[deleted]

Re: Elon’s Out

#15

Post by jollybean »

alphabetting wrote: post #4

I found this part most interesting. Public awareness of the Delaware Court of Chancery is about to skyrocket during this court battle. The fact that Musk is working in such bad faith here — that he seems so unconcerned with law and the contract he signed — cuts both ways. On the one hand, it will certainly annoy a Delaware chancellor; Delaware likes to think of itself as a stable place for corporate deals, with predi…

Could ask him to pay the $1B fine in the deal for walking away?

Re: Elon’s Out

#17

Post by jollybean »

xiphias2 wrote: post #11

I don’t understand why we need to make things personal: a multibillionaire with practically unlimited resources is negotiating with a multibillion dollar corporation with practically unlimited resources. It’s clear that the offer Elon got stuck with has an unrealistic price at this point (and Elon just want a reason to get out of the deal), just like it’s clear that Twitter’s management is incompetent in the last few…

Twitter management is not incompetent, Musk set his own price.

He should definitely pay a fine.

You can't walk into a situation and cause major chaos - literally executive turnover, stock going crazy, all sorts of turmoil - and then walk away on bad faith and excuses.

Also - he does not have unlimited resources. He literally cannot afford this deal right now.

Re: Elon’s Out

#18

Post by eftychis »

jollybean wrote: post #15
alphabetting wrote: post #4

I found this part most interesting. Public awareness of the Delaware Court of Chancery is about to skyrocket during this court battle. The fact that Musk is working in such bad faith here — that he seems so unconcerned with law and the contract he signed — cuts both ways. On the one hand, it will certainly annoy a Delaware chancellor; Delaware likes to think of itself as a stable place for corporate deals, with predi…

Could ask him to pay the $1B fine in the deal for walking away?

No. The $1B clause does not involved the two contractual parties pulling out of the deal.

Re: Elon’s Out

#19

Post by jollybean »

tailrecursion wrote: post #6

I'd like to learn how to read billionaires' minds. Anyone know a good book I can read so that I can have the skills of this opinion writer?

They are of the same mind as any other person with a bit of arrogance and hubris they just have more money.

Imagine some lowly millionaire putting a bid in for a piece of land / cottage he wants, and the karma that can come from that. Same thing, different scale.

Re: Elon’s Out

#20

Post by jollybean »

eftychis wrote: post #18
jollybean wrote: post #15

Earlier quoted context omitted.

Could ask him to pay the $1B fine in the deal for walking away?

No. The $1B clause does not involved the two contractual parties pulling out of the deal.

? It's my understanding that if Musk walks, he's supposed to pay $1B and visa versa.

So he's using the 'bot' issue to find an excuse for a deal he wants out of.

[1] https://www.cbc.ca/news/business/elon-musk-twitter-1.6432315

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