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Elon has decided not to join our board

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Re: Elon has decided not to join our board

#211

Post by choonway »

perihelions wrote: post #27
axg11 wrote: post #9

A 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…

- "CEO of Twitter has posted an image of text (from the iOS Notes app?)" At least he made the effort to include accessible alt-text. (Interestingly, the accessible text differs *slightly* from the picture-of-text version -- different draft revisions? Even social media CEO's don't seem comfortable with this workflow). edit: here's a diff with highlighting: https://i.imgur.com/R9wf2H5.png I'm relying on Verge's transcr…

i wonder how the original text would have fared if it went through the grammarly filter instead.

Re: Elon has decided not to join our board

#213

Post by EtienneK »

jmeister wrote: post #147
heavyset_go wrote: post #120

Earlier quoted context omitted.

From an article titled " Elon Musk to address Twitter staff after internal outcry "[1]: > Employees raged on internal message boards, expressing fears Musk will sabotage their culture and make it hard to do their jobs [1] https://www.washingtonpost.com/technology/2022/04/07/musk-tw...

He also tweeted that “no one shows up” to the Twitter HQ in SF. I think the contempt is mutual.

Yup. Also he is hinting at mass layoffs: https://twitter.com/elonmusk/status/1512974273606045702?s=21...

Re: Elon has decided not to join our board

#215

Post by riazrizvi »

PragmaticPulp wrote: post #11

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.

The first and second paragraphs contradict each other. Assuming of course that we ignore the time and events that separate them.

Re: Elon has decided not to join our board

#216

Post by mike_d »

Consultant32452 wrote: post #197
lnxg33k1 wrote: post #119

"So we decided that Elon would join our board, and that was in the best path forward, but then Elon decided that he would not join the board and that was also the best decision" You have no idea how much I hate this corporate speech of fried air and buttlickers

I think this was a polite way of saying they couldn't agree on terms of his board position. For example, he would probably have been restricted on the kinds of tweets he could make. He recently started a poll asking if he should turn Twitter HQ into a homeless shelter because so few people show up. They would certainly not want him doing that if he's on the board.

There is no agreement on terms. As a member of the board you are required by law to always do and say what is in the best interests of the company and its shareholders.

Someone probably sat him down and explained that he doesn't hold a majority of voting shares at Twitter, and that the company and other investors wouldn't put up with his shit. With a 75% majority, the other shareholders could vote to nullify his shares and make them worthless.

Re: Elon has decided not to join our board

#217

Post by riffic »

anonymousiam wrote: post #153
axg11 wrote: post #31

Earlier quoted context omitted.

Elon's companies have a unique and very different culture in comparison to Twitter. Of course, Elon was not set to be CEO, but to your point, the prospect of "Elon-ification" of Twitter was going to upset a lot of employees. The part I don't get: why is Elon still tweeting ideas for improving Twitter and shaking things up?

The board did not want him, but he is still the majority shareholder and may actually want to accumulate more shares than would have been possible if he had joined the board. Maybe he'll use his influence to replace the board with people who are less politically polarized. Maybe his new board will re-write the charter so he can eventually become CEO. I don't think this game is over.

largest shareholder, not majority (51%) shareholder.

Re: Elon has decided not to join our board

#218

Post by basisword »

Not a surprise if you’ve read any of Musk’s tweets this past weeks. He sounds unhinged. He’s like Kanye West. Occasionally says and does great things but more often than not is tweeting nonsense that could damage the company/brand. You cannot have a board member polling users as to whether or not HQ should be converted to a refugee for the homeless. The uncertainty and stress nonsense like that must cause for employees and potential legal implications for the company are not worth it.

Re: Elon has decided not to join our board

#220

Post by systemvoltage »

mike_d wrote: post #216
Consultant32452 wrote: post #197

Earlier quoted context omitted.

I think this was a polite way of saying they couldn't agree on terms of his board position. For example, he would probably have been restricted on the kinds of tweets he could make. He recently started a poll asking if he should turn Twitter HQ into a homeless shelter because so few people show up. They would certainly not want him doing that if he's on the board.

There is no agreement on terms. As a member of the board you are required by law to always do and say what is in the best interests of the company and its shareholders. Someone probably sat him down and explained that he doesn't hold a majority of voting shares at Twitter, and that the company and other investors wouldn't put up with his shit. With a 75% majority, the other shareholders could vote to nullify his shar…

> With a 75% majority, the other shareholders could vote to nullify his shares and make them worthless.

This is unbelievable. Can you share a credible source?

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