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Elon’s Out

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Re: Elon’s Out

#511

Post by spaced-out »

refurb wrote: post #223
CogitoCogito wrote: post #126

Earlier quoted context omitted.

And those appeals can be ruled upon and then the case can reach a conclusion. It's not like the lawyers can just take _any_ case with _any_ facts and keep the case from _ever_ reaching a conclusion. The real question you should ask yourself is, if $44 billion is on the line, how long would you continue to pursue the case in the face of lawyers who are just trying to drag it out? Even if it went on for years (it's not…

I think you underestimate the burden on a company of multi-year litigation. They won’t get any more buyers while it’s happening and it’s a massive distraction. I’ve worked at companies like this and it brutal on employee morale. People just leave.

>They won’t get any more buyers while it’s happening and it’s a massive distraction.

No one is going to buy Twitter at anything close to what Musk offered.

>I’ve worked at companies like this and it brutal on employee morale. People just leave.

You know how much Twitter engineers get paid, right? Twitter offer fully remote positions; no engineer with any sense is going to work at some no-name company for ~$100k if they can get an offer from Twitter, which will be almost twice that at least.

Re: Elon’s Out

#512

Post by georgia_peach »

thombat wrote: post #474
georgia_peach wrote: post #385

Earlier quoted context omitted.

> The social media company, Twitter, has admitted to overstating the figure of the platform’s users by 1.9 million in the last three years. The company disclosed this in its Q1 2022 financial report released today. The revelation comes days after the board of the company accepted a $44 billion offer by Elon Musk to take over Twitter. > Twitter says an “error” introduced in Q1 2019, resulted in the overstatement of it…

From https://www.statista.com/statistics/970920/monetizable-daily... that figure of 1.9M is rather less than 2% of their MDAU figure, and less than the MDAU growth in almost any quarter. So more of a correction than a revolution.

2% of a key revenue figure for a company with a $28B market cap is one hell of a correction. I don't think Levine actually believes Twitter has a snowball's chance in hell of getting specific performance. Can you point to a section in this opinion piece where he states no financial interest in this drama? I think that is conspicuous by its absence.

Re: Elon’s Out

#513

Post by refurb »

stale2002 wrote: post #437
refurb wrote: post #123

Earlier quoted context omitted.

Nope. Years of court battles distracts the company and keeps other buyers away.

They don't need other buyers. If they win the court case, the shareholders get 44 billion dollars.

I'm willing to put money on the fact they will never close the deal.

Re: Elon’s Out

#514

Post by google234123 »

Red_Leaves_Flyy wrote: post #471
sircastor wrote: post #416

Earlier quoted context omitted.

Steve Jobs also famously illegally parked in disabled parking spots and paid the fine because he didn’t care. And he famously leased a new car every 6 months because he didn’t want to put license plates on his car. And tangential to that kind of behavior, Apple recently was paying a weekly 5 million Euro fine in the Netherlands rather than comply with an order from regulators.

Jail. The consequence needed here is jail. Put these clowns in jail with junkies and wife beaters and gang bangers. While we’re at it, treat them the same as their local pd treats the most vulnerable in their community. They deserve no better than the most vulnerable and marginalized.

Jail for parking multiple times in disabled places or for buying a car every 6 months? Hard no from me. Both of those things are not the same as beating people.

Re: Elon’s Out

#515

Post by KVFinn »

saurik wrote: post #272
mabbo wrote: post #265

A fun side effect of all of this: if you believe in the court's ability to force Musk to buy Twitter, you should continue to buy up stock until it reaches the price Musk agreed to pay for it. If you don't believe he'll be forced to pay, you should sell and/or short until it's at whatever you think the right market value for a stock of Twitter ought to be. And wherever the price is between those two is a direct functi…

Well, minus a discount for however long you think it will take before that actually happens, taking into account such things as inflation, interest rates, and market performance (due to the opportunity costs of holding this stock until then).

>A fun side effect of all of this: if you believe in the court's ability to force Musk to buy Twitter, you should continue to buy up stock until it reaches the price Musk agreed to pay for it.

How do I bet on no outcome one way or another for many many years? If there's one thing I know about the US legal system it is giant corporations battling each other takes years and years to resolve.

Re: Elon’s Out

#516

Post by artificialLimbs »

throwaway09223 wrote: post #476
Victerius wrote: post #468

Earlier quoted context omitted.

Thanks. Further questions: (1) Would it be legal for him to own the brokerage? (2) What if he moves all of his stock in offshore accounts?

1) Sure, but this wouldn't give him any protection. On the contrary, there would be a ton of extra liability and exposure if he were to refuse to process a levy. Shares don't need to be held in a brokerage. There's always a process to identify and seize the property in question. 2) There's no such thing. TSLA is a US public company, traded on US exchanges. It's simply not possible for shares of the company to exist o…

You can obtain paper copies of your stocks. Then they could be on Mars if you'd like.

Re: Elon’s Out

#517

Post by [deleted] »

Victerius wrote: post #490
colechristensen wrote: post #484

Earlier quoted context omitted.

The one used by most is DTCC, it’s basically owned by the banks who use it, not something that could be bought. The legal entity which maintains the list of teslas owners is ultimately tesla, but that duty will be likely given to dtcc. A stock is ultimately just an entry on a list maintained by the company, most offload the managing of the list to DTCC and usually the pointer isn’t to you but to your broker dealer. T…

Thanks. I'm always curious about the practical logistics behind things.

[deleted]

Re: Elon’s Out

#518

Post by legutierr »

artificialLimbs wrote: post #516
throwaway09223 wrote: post #476

Earlier quoted context omitted.

1) Sure, but this wouldn't give him any protection. On the contrary, there would be a ton of extra liability and exposure if he were to refuse to process a levy. Shares don't need to be held in a brokerage. There's always a process to identify and seize the property in question. 2) There's no such thing. TSLA is a US public company, traded on US exchanges. It's simply not possible for shares of the company to exist o…

You can obtain paper copies of your stocks. Then they could be on Mars if you'd like.

Stock certificates can be voided and reissued.

Tesla being a Delaware corporation, it would be within the power of the chancery court to order that very thing.

Re: Elon’s Out

#519

Post by chasebank »

swyx wrote: post #504
Strom wrote: post #210

Earlier quoted context omitted.

> Because TSLA is way too overvalued. He has to know that it is overvalued. Indeed he does. He has talked about this publicly in various interviews over the years. [1] > Musk pretended that TSLA valuation is reasonable. Musk even called out Gates for shorting TSLA stock Musk definitely really dislikes short sellers, no doubt about that. However that is different from pretending that TSLA valuation is reasonable. -- […

musk said that in May 2020, when the stock was at $140. it is 437% higher now even with the market pullback.

Wasn't that tweet supposed to be cryptic? Right before he announced the stock spilt? I mean, he's surely a smart dude and a master in 140 character public manipulation. We'll never know but it's sure entertaining to watch.

Re: Elon’s Out

#520

Post by selfportrait »

mlindner wrote: post #438
petilon wrote: post #367

Earlier quoted context omitted.

If you believe your company's stock is overvalued, how can you fault someone for selling the stock? Bill Gates sold TSLA stock that he borrowed. If you truly believe that TSLA is overvalued, then it makes no sense to fault someone for selling it.

He doesn't find fault with people selling the stock. He finds fault with people shorting the stock. He seems to believe shorting in general is morally wrong as it's external influences who don't understand the goal (or actively want the goal to fail) trying to make money on the failure of something. Try and find any instance of him attacking anyone who was an investor and then sold out.

I’m a little confounded that you suggest Elon believes shorting to be “morally wrong”. Why conflate his ego and financial stake with “morality”?

Plus, Elon has proven himself to be morally nefarious more than anything. With the law and social expectations and plenty more.

The only thing I can find about Elon and his utterance of morality is him saying it was morally wrong to ban Donald Trump. What a joke.

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