Live data from Hacker News

Elon Musk makes $43B unsolicited bid to take Twitter private

bloomberg.com

301–310 of 1001 posts

Re: Elon Musk makes $43B unsolicited bid to take Twitter private

#301

From observing various internet forums, including this one, I noticed that people from the "first world" countries don't know the value of free speech and often take it for granted. Sometimes even coming to such views as "free speech is dangerous" and that "we should limit free speech" (by blocking the views I don't like). Understand this: limits on free speech are far more dangerous to society than allowing fringe e…

Do you remember why Trump was banned on twitter? He was using his social media presence as part of a plan to overturn the results of the 2020 presidential election, and he was banned from both Twitter and Facebook after the U.S. Capitol building was essentially sacked due to these efforts. That sounds pretty dangerous to me.

He, and others like him, never lost their right to free speech. Nothing stops them from creating their own website (which he has), or saying anything they want on the numerous platforms that do support them. They just lost access to social media platforms which by gamified design make spreading information (and misinformation) to the masses incredibly easy, so easy that a group of people were actually convinced that they had a mandate to attack the capitol to stop a cabal of pedophiles from stealing the 2020 election, a mandate from a president who at any time was going to unleash a flurry of indictments that would expose and jail the leaders of the Democratic Party.

I don't know what the right answer is, but January 6th was an event that proved that something was truly out of control. The 1st amendment is not going anywhere, but I do support efforts to make it at least a little harder, or rather not so ridiculously easy, to spread lies that can ravage a country's democratic processes. I know that sounds anti-free speech, but again, the U.S. Capitol was sacked by a group of people inspired by lies on social media, and I think we need to acknowledge we live in a new world because of that.

Re: Elon Musk makes $43B unsolicited bid to take Twitter private

#303

I'm not sure Musk knows what he's doing, this feels like a personal vendetta. I'm also not sure he has any likelihood of succeeding in the first place, I wouldn't necessarily assume anyone is going to take him up at that price. And (quite frankly) I don't think that Musk is a very good free speech activist. I think he's regularly hypocritical about free speech and regularly engages in his own forms of censorship; I d…

Maybe we'll see less links to unreadable twitter threads posted here. One can only hope!

Re: Elon Musk makes $43B unsolicited bid to take Twitter private

#304

Dumb question: what makes this a “ hostile takeover”? Elon’s bid was non-binding, and unless I’m unaware - he isn’t trying to actively change the board or management. So what makes this “hostile”?

By definition a hostile takeover is one that is done without the blessing/recommendation of the current board of directors.

Most private takeovers are negotiated by the board/management (ostensibly on behalf of the shareholders). Going over their head and straight to shareholders is when it's called a hostile takeover.

As far as Elon not planning to replace the board/management. I would say that it is a foregone conclusion that he will clean house if his takeover succeeds. He has been actively critical of their management.

Re: Elon Musk makes $43B unsolicited bid to take Twitter private

#305

I'm not sure Musk knows what he's doing, this feels like a personal vendetta. I'm also not sure he has any likelihood of succeeding in the first place, I wouldn't necessarily assume anyone is going to take him up at that price. And (quite frankly) I don't think that Musk is a very good free speech activist. I think he's regularly hypocritical about free speech and regularly engages in his own forms of censorship; I d…

Musk does not hold any position in the government. My understanding is that the fight for free speech is about the government censoring individuals. The first amendment of the US already protects people from that. Any private platform can do whatever they want though.

Re: Elon Musk makes $43B unsolicited bid to take Twitter private

#306
A "free speech" platform would give users more power to control their communications with others and transparency of how the "system" worked.

Very simple things that we had with usenet like killfiles and threaded conversations are foreign things to the younger generations. Things like shadowbans and a central authority that just decides to disable your account would be non-existent. Heck, we even had a form of "blue checkmark" with finger daemons.

I have no idea what musk is thinking.

Re: Elon Musk makes $43B unsolicited bid to take Twitter private

#307

As a Twitter shareholder I would vote against this. Musk says there is tremendous financial potential in Twitter but then offers $54 a share, which is not even 2x the IPO price. That’s not a “tremendous potential” premium. There is a lot of evidence that platforms which de-prioritize moderation have trouble attracting revenue and experience significant compliance costs. See: the sad story of Moot, who ran one of the…

You're not focusing on foundational principles - you're looking at current status quo surface level/shallow consequences of decisions.

E.g. Low moderation making difficulty attracting revenue is because that's based on an ad revenue based model.

Tesla and SpaceX aren't high risk positions - both have been proven for years now.

You're concerned about his ability to multi-task because he's successfully turned Tesla into the most valuable company in the world, and at the same time lead SpaceX to probably the most valuable private company in the world?

I'd saw your analysis is at least a few degrees off.

Did you consider what will happen to your current stock value if the BOD doesn't sell to Elon, and if Elon then sells off his shares and starts a competitor and moves himself and others follow? Do you think Twitter is anywhere near an upward trajectory that will provide you a better return than the relative stagnant value the stock has had for awhile now?

Re: Elon Musk makes $43B unsolicited bid to take Twitter private

#308

I'm not sure Musk knows what he's doing, this feels like a personal vendetta. I'm also not sure he has any likelihood of succeeding in the first place, I wouldn't necessarily assume anyone is going to take him up at that price. And (quite frankly) I don't think that Musk is a very good free speech activist. I think he's regularly hypocritical about free speech and regularly engages in his own forms of censorship; I d…

I think he's dumb wasting so much money on this, but why on earth wouldn't shareholders want to sell out to him? If I held Twitter shares I'd be quite keen to get rid of them.

Re: Elon Musk makes $43B unsolicited bid to take Twitter private

#309

From observing various internet forums, including this one, I noticed that people from the "first world" countries don't know the value of free speech and often take it for granted. Sometimes even coming to such views as "free speech is dangerous" and that "we should limit free speech" (by blocking the views I don't like). Understand this: limits on free speech are far more dangerous to society than allowing fringe e…

I'll worry the moment the state makes expression of ideas illegal.

When it comes to private vehicles for speech, the right to amplify or attenuate speech carried on these vehicles is itself a free speech right.

Newspapers can exercise editorial judgment. Forums can create policies. These policies can be regarding how discourse is conducted, they can even be topical. Your Math Professor can shut down your classmate's extemporaneous treatise about the gold standard taking up time in linear algebra class. Time, place, and manner matter.

Everyone has a right and a responsibility to curate conversation in a way that serves the discourse for their sphere of influence -- except the state itself.

Everyone also has the right and responsibility to create a new forum or sphere to discuss ideas they feel aren't being poorly served elsewhere. Or, if they wish, any ideas without limitation at all.

Re: Elon Musk makes $43B unsolicited bid to take Twitter private

#310

It’s interesting to contextualize this with a regular persons life. This amount will present about 1/7 of his net worth. However unlike a traditional purchase this will be n investment and depending on how it goes, he can get even more money. If an average person had a max net worth of 3 million this would be like them deciding to buy a 400K investment property, or a laundry mat. That aside, this is also a great exam…

It's not an obvious good idea to buy Twitter though - and is especially risky if you're not wanting to just continue to run the business as is without potentially de-stabilizing it and destroying it in the process.
Post reply on HN