Earlier quoted context omitted.
Why would Twitter profits matter to shareholders after they divest?
The parent believes, based on Elon's own claims, that part of his plan of raising the money is to get some existing shareholders on board, essentially having them finance the deal, obviously by promising them a stake in the future private company. They are also assuming an existing shareholder would only do this if they believe the future private Twitter would be a more profitable endeavor for them, which Musk's comm…
Twitter board adopts poison pill after Musk’s $43B bid to buy company
761–770 of 1001 posts
Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company
#762Some points from the All in Pod. 1. The Twitter board of directors has become a status thing. It's like a country club. They don't have real skin in the game; they don't own much stock. They're not aligned with the shareholders. It's about status and cultural power. 2. Why should we believe that the company will become more valuable when the stock price is where it was way back in December 2013? Compare to how the S&…
Quick takeaways:
- The frequent pejorative use of the term 'elites' as a catchall for literally anyone they disagree with is hilarious. Their explanation of Musk being the iconoclastic 'anti-elite elite' sounds like Ayn Rand fan-fic written by a 14 year old who just read the Wikipedia plot summary for Atlas Shrugged. - What does 'inverting history' even mean? It seems to be another example from Glenn Greenwald's vast and vitriolic argot. (I'm sure Glenn Greenwald is another commendable 'anti-elite elite'). - Paraphrasing: "journalists 20 years ago would have been defending the first amendment!" -> this is not about the first amendment. The first amendment protects your ability to speak freely from government imposed restriction or suppression. Ironically, twenty years ago the press/journalists and even government officials were experiencing one George Bush's sweeping censorship efforts (https://www.americanprogress.org/article/think-again-the-bus...).
Anyway, the hosts wistfully allude to the past, with references to society's 'public square' and people having the ability to say whatever they wanted with no repercussions. This is nonsense. Broadly, you can absolutely say whatever you want online — it's easier than ever.
That doesn't mean:
1) Twitter is required to provide a platform for you to abuse and harass people, or spout opinions they deem to be offensive, damaging, or misleading. That's their choice. 2) Free speech has never been consequence-free. To quote Michael Hobbes: "Voicing your opinion in public has always carried the risk of being shamed or shunned."
Finally, I will concede that twitter has suffered from poor growth, and a change in leadership could be a good thing for the company. But the board also has a responsibility to protect minority shareholders from people exactly like Elon. Their resistance to his efforts may have nothing to do with the vague, insulting and unsubstantiated allegations you and the podcast hosts make (It's a 'country club', board members are only acting against musk to protect their 'status', etc). Rather, they may quite reasonably believe that a vainglorious egomaniac who has been repeatedly sanctioned by the SEC may, in fact, not be the ideal owner of a social media company.
Ps.
> 4. One AI engineer from Tesla could solve Twitter's bot and spam problem.
Do you really, seriously think this is true? It comes across as deliberately inflammatory, and you and I both know it's not true.
Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company
#763Some points from the All in Pod. 1. The Twitter board of directors has become a status thing. It's like a country club. They don't have real skin in the game; they don't own much stock. They're not aligned with the shareholders. It's about status and cultural power. 2. Why should we believe that the company will become more valuable when the stock price is where it was way back in December 2013? Compare to how the S&…
> The elites have somehow inverted history so they now believe that it is not censorship that is the favored tool of fascists and authoritarians, even though every fascist and despot in history used censorship to maintain power, but instead believe free speech, free discourse, and free thought are the instruments of repression. It feels a little silly to act like the guy trying to spend billions of dollars to get his…
Pushing for less censorship isn't "his way" -
- I see you've edited to "intra-elite" conflict. So is basically every problem in society then given that governance is handled by few. Not sure what the point is here, just feels like a hollow dismissal.
Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company
#764Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company
#765Earlier quoted context omitted.
Yes. The law doesn't bind directors to maximize shareholders value. https://www.reddit.com/r/law/comments/3pv8bh/comment/cw9t52d...
I could be wrong but I don't think Twitter is a B corp.
There's an easily searchable index of B-Corps: https://www.bcorporation.net/en-us/find-a-b-corp
Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company
#766Some points from the All in Pod. 1. The Twitter board of directors has become a status thing. It's like a country club. They don't have real skin in the game; they don't own much stock. They're not aligned with the shareholders. It's about status and cultural power. 2. Why should we believe that the company will become more valuable when the stock price is where it was way back in December 2013? Compare to how the S&…
Not every speech is equal. If you are living in a Weimar-Republic scenario, yes, free speech can be repressive and I can see why people will call for censorship. Personally, I think censorship and speech taboos just keep a lid on certain problems instead of solving them.
Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company
#767Earlier quoted context omitted.
> One AI engineer from Tesla could solve Twitter’s bot and spam problem I think you underestimate how hard the problem is or you don’t fully understand how it works. The scale at which Twitter operates makes it near impossible to take down spam in real time. You don’t think Twitter is working on it, but they are. What you see is a much smaller percentage of the actual spam generated, and the reason you see it is beca…
To think that a company that has failed to create self-driving for nearly a decade could solve "content moderation", one of the hardest problem on the internet that every single of the big companies (who btw hire the best talent) have been struggling with, is truly a shocking statement to me. If all Google and Facebook couldn't solve it, why could a Tesla engineer of all people...
Something tells me Elon would have different goals that should be less of a moving target and easier to accomplish. Less subjective target like "hate speech" and more objective target like true threats of violence, illegal activity, actual bot detection not "people who disagree are bots", etc
Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company
#768Earlier quoted context omitted.
> The elites have somehow inverted history so they now believe that it is not censorship that is the favored tool of fascists and authoritarians, even though every fascist and despot in history used censorship to maintain power, but instead believe free speech, free discourse, and free thought are the instruments of repression. It feels a little silly to act like the guy trying to spend billions of dollars to get his…
"his way" vs what? The way of a dozen other guys? Pushing for less censorship isn't "his way" - - I see you've edited to "intra-elite" conflict. So is basically every problem in society then given that governance is handled by few. Not sure what the point is here, just feels like a hollow dismissal.
Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company
#769Earlier quoted context omitted.
> The elites have somehow inverted history so they now believe that it is not censorship that is the favored tool of fascists and authoritarians, even though every fascist and despot in history used censorship to maintain power, but instead believe free speech, free discourse, and free thought are the instruments of repression. It feels a little silly to act like the guy trying to spend billions of dollars to get his…
That's like saying SpaceX isn't about going to Mars and Tesla isn't about reducing carbon emissions. At this point we can say these are mission focused moves. This is about free speech in the public square.
Re: Twitter board adopts poison pill after Musk’s $43B bid to buy company
#770Some points from the All in Pod. 1. The Twitter board of directors has become a status thing. It's like a country club. They don't have real skin in the game; they don't own much stock. They're not aligned with the shareholders. It's about status and cultural power. 2. Why should we believe that the company will become more valuable when the stock price is where it was way back in December 2013? Compare to how the S&…