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Elon’s Out

bloomberg.com

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Re: Elon’s Out

#281

Post by molticrystal »

> One of his hobbies is that he sometimes likes to pretend that he will acquire public companies...He seems to find this fun....When Musk pretended in 2018 that he was going to take Tesla Inc. private, he had to pay the US Securities and Exchange Commission a $20 million fine and stop being the chairman of Tesla’s board.

One past example doesn't make a hobby, and I wonder if SEC interference had any impact small or large on the privatization failing. Not to add to the defense to Musk, but deals fall through all the time when scrutiny is applied to them, whether exterior or interior.

Re: Elon’s Out

#282

Post by dodobirdlord »

daenz wrote: post #247
Spivak wrote: post #167

Earlier quoted context omitted.

You don’t care and keep seizing and selling off assets until you hit the target number or you run out of things to seize. You’re acting like the asset value at all matters to the courts.

Couldn't other shareholders sue the government for tanking the stock and essentially "stealing" value from them?

No, they still own the stock, the government hasn’t taken anything from them. The stock might be worth less money the same way a house might be worth less money if a city government decided to stop repairing the road in front of it, or if the city relaxed zoning laws, but the price of assets in the market isn’t a responsibility of the government, and it generally does not incur liability when it causes them to change.

Re: Elon’s Out

#283

Post by treis »

jp57 wrote: post #183

Another hypothesis: Triggering a legal battle in the courts is a delaying technique to push out the acquisition until the economy rebounds (and Tesla and Twitter valuations with it), or until after the 2024 election, because Elon realized that he doesn't actually want to let Trump back onto the platform. (Perhaps because he perfers DeSantis)

IMHO this is the key point. Twitter has a strong case in court but courts usually take a long time. Probably at least a couple years for all the appeals to run their course. And at any time during that process Elon can decide that he actually wants Twitter and complete the transaction.

It's a huge distraction for Twitter and probably won't be worth it in the long run. I expect a settlement with Elon paying some cash as a breakup fee.

Re: Elon’s Out

#284

Post by [deleted] »

ethagknight wrote: post #276

I find it amazing that not one of the top comments gives Elon ANY consideration that maybe, just maybe, he has a legitimate case against Twitter. We don’t know what he’s found, what he was told, what he was promised, what changed on Twitter’s side. Some very top level people bailed or were fired shortly after Elon’s acquisition proposal was announced. It sure appears that Elons is just balking, but what is far more l…

[deleted]

Re: Elon’s Out

#285

Post by ta8645 »

sroussey wrote: post #246
ta8645 wrote: post #142

Earlier quoted context omitted.

I don't know about a villain, but he definitely isn't a saviour. Was hoping he'd follow through in reforming Twitter. But it turns out, even with all his resources, he's actually pretty weak in comparison to the forces set against him.

Elon is the force against himself. No conspiracy required.

To pretend he doesn't have powerful enemies is just silly. It's not some kooky conspiracy theory. The only question is if you think his enemies are justified or not.

Re: Elon’s Out

#286

Post by mise_en_place »

throwaway09223 wrote: post #140
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…

> What if the court orders Musk to close the deal and he says no? I can't believe people are taking this very silly statement seriously. This is utter nonsense. There are remedies for people who disobey court orders. Having assets makes you more vulnerable to a court's authority because you have something to lose. If a court orders specific performance and he doesn't do it then he's liable and the court will take his…

Ok let’s say he has a bunch of stock as well as paintings, cars, etc. how do you divvy that up? Cut the painting in half and give it to Twitter? The rich are very wise at hiding money in assets that cannot be evenly divided nor distributed. That’s why the vast majority of taxes in the US comes from the middle class, they usually sit on piles of cash and have salaries from which to levy fines to.

Re: Elon’s Out

#287

Post by abirch »

almost_usual wrote: post #164
daenz wrote: post #161

Earlier quoted context omitted.

>the court will take his assets to compensate. How do you seize billions of dollars of stock without affecting share prices?

Don’t invest in a company ran by a lunatic?

Twitter employees are watching the board force a lunatic to buy their company.

Re: Elon’s Out

#288

Post by aunty_helen »

mise_en_place wrote: post #286
throwaway09223 wrote: post #140

Earlier quoted context omitted.

> What if the court orders Musk to close the deal and he says no? I can't believe people are taking this very silly statement seriously. This is utter nonsense. There are remedies for people who disobey court orders. Having assets makes you more vulnerable to a court's authority because you have something to lose. If a court orders specific performance and he doesn't do it then he's liable and the court will take his…

Ok let’s say he has a bunch of stock as well as paintings, cars, etc. how do you divvy that up? Cut the painting in half and give it to Twitter? The rich are very wise at hiding money in assets that cannot be evenly divided nor distributed. That’s why the vast majority of taxes in the US comes from the middle class, they usually sit on piles of cash and have salaries from which to levy fines to.

Or ya no, liquidate the asset and divvy up the cash. I'm sure you could've thought of that.

Re: Elon’s Out

#289

Post by webkike »

ethagknight wrote: post #276

I find it amazing that not one of the top comments gives Elon ANY consideration that maybe, just maybe, he has a legitimate case against Twitter. We don’t know what he’s found, what he was told, what he was promised, what changed on Twitter’s side. Some very top level people bailed or were fired shortly after Elon’s acquisition proposal was announced. It sure appears that Elons is just balking, but what is far more l…

> It sure appears that Elons is just balking, but what is far more likely is that he has uncovered some deep Twitter bullshit and he plans to unveil it in court. Forced to air the dirty laundry by the court, he avoids defamation suits.

I have no idea how you can claim that that is far more likely. You think it is more likely that Elon is going to expose the numbers Twitter reports to the SEC as off by an order of magnitude than Elon just not wanting to follow through with this deal?

EVEN IF the numbers reported were off by a factor of 10, this would also have to cause advertisers to pull out! The revelations you claim Elon might make have to have material effect on the value of Twitter for them to make a difference in this impending court case. Yeah, it’s possible, I guess? But it’s definitely not more likely!

Think about it this way: what could Elon possibly reveal that would make advertisers pull out? They advertise on Twitter and make money already! Why stop now??

Re: Elon’s Out

#290

Post by carpo »

mise_en_place wrote: post #286
throwaway09223 wrote: post #140

Earlier quoted context omitted.

> What if the court orders Musk to close the deal and he says no? I can't believe people are taking this very silly statement seriously. This is utter nonsense. There are remedies for people who disobey court orders. Having assets makes you more vulnerable to a court's authority because you have something to lose. If a court orders specific performance and he doesn't do it then he's liable and the court will take his…

Ok let’s say he has a bunch of stock as well as paintings, cars, etc. how do you divvy that up? Cut the painting in half and give it to Twitter? The rich are very wise at hiding money in assets that cannot be evenly divided nor distributed. That’s why the vast majority of taxes in the US comes from the middle class, they usually sit on piles of cash and have salaries from which to levy fines to.

You sell it for money
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