Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Elon’s Out

bloomberg.com

Post reply on HN
Print view View original

491–500 of 767 posts

Re: Elon’s Out

#491

Post by roca »

phendrenad2 wrote: post #477
roca wrote: post #166

Earlier quoted context omitted.

The "cave diver paedophile" incident made it abundantly clear to everyone willing to see that whatever else he may be, Musk is a malicious clown. It was always only a matter of time before that had greater consequences.

Everyone has said something they don't mean out of spite. Politicians and billionaires are held to a higher standard by their fans/haters, but I really think they shouldn't be.

It wasn't just the original "pedo guy" comment. Musk also hired a private investigator to dig up dirt on his target. He tweeted more, and emailed a Buzzfeed reporter alleging his target was a child rapist. This wasn't just one moment of spite.

Re: Elon’s Out

#492

Post by shkkmo »

mLuby wrote: post #402
al_mandi wrote: post #340

Earlier quoted context omitted.

> using the Vatican's wealth as a proxy Sounds like a huge logical fallacy.

I'm open to other measures; anything's better than "IDK infinite." What do you propose?

I think it hard to justify a definition of God's wealth that isn't everything or nothing.

Re: Elon’s Out

#493

Post by bandyaboot »

scaramanga wrote: post #449
bandyaboot wrote: post #395

Earlier quoted context omitted.

I mean, he does though right? It’s just that doing so at this point would cause a world of hurt for Tesla and its shareholders?

I don't think so, I mean, you are not just going to place a single market order for $44bn of stock, you are going to have liquidity problems because there is not that much buy-side volume in the market, so the price must fall drastically to attract new buyers. Also I assume musk has legal obligations not to do stuff like that to begin with, as an executive with fiduciary responsibilities to shareholders. If Musk can…

All fair points.

Re: Elon’s Out

#494

Post by nicce »

bambax wrote: post #75
petilon wrote: post #71

This article says Musk agreed to buy Twitter mostly as a joke. I think there's a far better explanation. This wasn't a joke for Musk because after agreeing to buy Twitter he proceeded to sell billions of dollars' worth of TSLA stock, supposedly to finance the purchase. Even for the richest man in the world that's not a joke. I think a better explanation is that Musk offered to buy Twitter as a cover for selling billi…

This is alluded to at the end of the article: > Is it fun for him? If he manages to walk away having spent only millions in financing fees, millions in legal fees and say $1 billion in termination fees, was it worth it? What did he get out of this? The guy really seems to like being on Twitter, and he did make himself the main character in Twitter's drama for months on end. That’s nice for him I guess. Also he made t…

> It's a very, very annoying/distracting cover, not to mention an expensive one.

It is hard to say how expensive it actually is… if he had sold overpriced Tesla stock without cover, could that lose be much more than - one billion termination fee?

Re: Elon’s Out

#495

Post by [deleted] »

rurp wrote: post #256
throwaway09223 wrote: post #215

Earlier quoted context omitted.

So what? This is business as usual for law firms. They will lose clients every time they take a case due to conflicts of interest and so on, even if everyone has a happy outcome. What Musk did was petty and questionable, but it didn't fundamentally change anything for Cooley. It's not a big deal.

It's unlikely Musk expected Cooley to cave to his ridiculous demand. It's very likely the intended target for this action was every person who deals with Musk's future illegal actions.

[deleted]

Re: Elon’s Out

#496

Post by danaris »

scaramanga wrote: post #336
abirch wrote: post #287

Earlier quoted context omitted.

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

Because they know he has absolutely no ability to do so. They are simply trying to collect legal fees at this point.

He absolutely has the ability. He's demonstrated that publicly, with his verified presentation of having raised the $44 billion a few weeks ago (through a combination of financial instruments).

What he doesn't have is the inclination.

Re: Elon’s Out

#497

Post by la64710 »

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…

I was thinking this was a case of white privilege that we consider the conduct of Musk as “rich people just wanna have fun” and not a criminal conspiracy. But the more I think the more I realize the privilege is not that , the privilege is that a white successful immigrant is loved by so many people in this country , a brown or black successful immigrant is not loved in the same way in this country. And that my friends is indeed a privilege.

Re: Elon’s Out

#498

Post by roenxi »

jjeaff wrote: post #469
roenxi wrote: post #459

Earlier quoted context omitted.

The tax & plane seizures are 1. A surprising departure from the rules and norms - I assume probably illegal. 2. Part of a campaign designed to ruin Russia. You might have misunderstood the argument the anti-taxers (pro-property?) people are bringing up. There isn't a physical problem with taking wealth away from people, that part is very easy to execute. The problem is the 2nd order effects where it will turn into an…

What law prohibits the seizure of foreign assets on international waters?

I dunno. I'm not a lawyer. Possibly one of the ones against piracy?

If you want to make the argument that it is literal and raw might-makes-right on the high seas, ok. But that type of barbarian world is not one I encourage and it'd be a bit stunning to find someone who wants the world to work that way.

The US wouldn't do well in a world like that either, US citizens have more assets to seize than foreigners do.

Re: Elon’s Out

#499

Post by panphora »

mlindner wrote: post #356
dang wrote: post #128

Recent and related: Notice of termination of Twitter merger agreement - https://news.ycombinator.com/item?id=32027341 - July 2022 (1361 comments)

Not just related, this thread should be merged with that one. There is nothing new in this opinion piece article.

I disagree. As a non-lawyer, non-financier, I found the deep & well-thought-out explanation fascinating. This is one of the best articles I've read this year.

Re: Elon’s Out

#500

Post by JaceLightning »

petilon wrote: post #71

This article says Musk agreed to buy Twitter mostly as a joke. I think there's a far better explanation. This wasn't a joke for Musk because after agreeing to buy Twitter he proceeded to sell billions of dollars' worth of TSLA stock, supposedly to finance the purchase. Even for the richest man in the world that's not a joke. I think a better explanation is that Musk offered to buy Twitter as a cover for selling billi…

Twitter is overvalued at its current valuation. Musk realized that after making an offer. Now he has buyer's remorse.
Post reply on HN