431–440 of 542 posts
Anyways, the move , whether Elon intended or not at any given time to join the board, turned out to be beneficial for both him (more so than for) & Twitter. I don't think it can affect him negatively in any way, he already has a de facto much higher base culturally speaking than the "Twitter" army.
Earlier quoted context omitted.
Couldn't he take out a loan using his Tesla stock as collateral, and use that to fund a purchase of Twitter? That way he'd avoid selling any stock (and having to pay taxes on the sale), although he'd have to somehow fund the interest payments on the loan (which could be done through smaller stock sales, which would incur taxes, but he'd still pay less tax selling to fund the interest than selling to fund the principa…
Rich people do this to buy yachts and sports cars (for I dunno, tens of millions), but borrowing $15 billion? I'm kinda skeptical any banks would bite here. The collateral would be a huge portion of his Tesla stock, enough that a crash in TSLA could put the whole loan at risk.
This is a sh*tshow for Twitter.
So one of the requirements of being a board member is not exceeding a certain amount of stock ownership. And then he says "nevermind, actually." Sounds like Elon wants some more stock.
Earlier quoted context omitted.
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?
Yes but he didn't sell as you say. Same with dogecoin, the "funding secured" debacle, and all his other stuff. He does something stupid and probably illegal, but doesn't actually take the crucial steps to profit and complete the scam. The image he portrays (I'm tempted to say cultivates) is that of someone above the law who doesn't give a fuck, not that of a common pump-and-dump scammer.
Earlier quoted context omitted.
I personally read it as: It was for the best that we offered a seat, luckily he refused.
Like anyone is going to believe that. It is like getting an offer on your house and saying that you think it is a great offer, then on the way to sign the contract the buyer says they want to cancel and then you say "yes great, I wanted you to cancel at the last minute"
Anyway; I am not an expert, but being on the board of director of a company come with specific responsibilities, like an obligation not to trash talk the company in public forums.
From an external point of view it looks like Elon might prefer the stick to the carrot in relation to changing how twitter works.
Both Elon and the CEO know this but the board all but must offer a seat to the biggest shareholder. So the best thing happened for everyone, Elon was blessed with acceptance and the board did not gain a member prone to PR chaos.
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 employe…
I mean they are good friends and cite each other as inspiration.
Earlier quoted context omitted.
> Just like Trump he has a personal brand big enough to jumpstart a social network That appears to be an embarrassing failure, tho. And Musk's personal brand is much smaller than Trump's.
>And Musk's personal brand is much smaller than Trump' The world is larger than just the USA. Elon has an international following that probably outsizes what's left of Trumps crazy republicans.
Note that the message says that Musk is not joining the board, rather than he's leaving it.
If he never joined, then the 90-day restriction of not acquiring more than 14.9% of Twitter may not apply, which could mean that a fight for how Twitter is controlled might be imminent.