Wall Street banks prepare to sell up to $3B in X loans next week • Hacker News Board

Re: Wall Street banks prepare to sell up to $3B in X loans next week

#81

Post by Animats » Sat, Jan 25, 2025, 9:21 PM UTC

isoprophlex wrote: post #67

Animats wrote: post #59

> Morgan Stanley and others, such as Bank of America and Barclays, lent Musk money to complete his $44 billion buyout of X, then known as Twitter, in 2022. Hm. So who owes the debt? What's the collateral? Supposedly Musk bought Twitter personally, but this looks like a leveraged buyout in trouble. The banks involved had a "sell-down letter", an agreement between the lenders that any sell-off gave the other lenders a…

So, 500m a year to whisper sweet nothings into the minds of a significant % of the world population. Or brainwashing them, whatever you like. I think it's not a bad price, someone surely feels theyre getting their moneys worth.

$1bn is revenue, not income. Income is much less.

Re: Wall Street banks prepare to sell up to $3B in X loans next week

#82

Post by OnlineGladiator » Sat, Jan 25, 2025, 9:22 PM UTC

breadwinner wrote: post #75

skc wrote: post #72

Whatever. I think X has been Musk's most spectacularly succesful investment. 44 billion was a pretty small price to pay for the ultimate propaganda bullhorn.

He has failed in his fiduciary duty to other investors. If your goal is to build a propaganda bullhorn as opposed to maximizing returns for your investors then don't take money from other investors or at least warn them.

The most powerful country on the planet has been taken over by oligarchs and your concern is for the investors? As someone who regularly invests in high risk stocks, you'd have to be a complete fucking idiot not to see this coming.

The investors backed Elon Musk, a man with a long history of picking fights with the SEC, breaking labor laws, and being a manchild - why would they expect something different?

Re: Wall Street banks prepare to sell up to $3B in X loans next week

#83

Post by bdangubic » Sat, Jan 25, 2025, 9:29 PM UTC

Hikikomori wrote: post #55

bdangubic wrote: post #32

Earlier quoted context omitted.

he bought an office in the white house which he already turned into much more than what he invested in X with 4 more years to come…

They put him in a building across the street and he has to talk to chief of staff now.

if I had $44bn to spare I’d pay for that kind of access to USA government… running “DOGE” alone I’d pay twice that

Re: Wall Street banks prepare to sell up to $3B in X loans next week

#84

Post by breadwinner » Sat, Jan 25, 2025, 9:30 PM UTC

OnlineGladiator wrote: post #82

breadwinner wrote: post #75

Earlier quoted context omitted.

He has failed in his fiduciary duty to other investors. If your goal is to build a propaganda bullhorn as opposed to maximizing returns for your investors then don't take money from other investors or at least warn them.

The most powerful country on the planet has been taken over by oligarchs and your concern is for the investors? As someone who regularly invests in high risk stocks, you'd have to be a complete fucking idiot not to see this coming. The investors backed Elon Musk, a man with a long history of picking fights with the SEC, breaking labor laws, and being a manchild - why would they expect something different?

It is only after he bought Twitter that he revealed his true self. Up until that time he seemed like a sane person.

Re: Wall Street banks prepare to sell up to $3B in X loans next week

#85

Post by OnlineGladiator » Sat, Jan 25, 2025, 9:34 PM UTC

breadwinner wrote: post #84

OnlineGladiator wrote: post #82

Earlier quoted context omitted.

The most powerful country on the planet has been taken over by oligarchs and your concern is for the investors? As someone who regularly invests in high risk stocks, you'd have to be a complete fucking idiot not to see this coming. The investors backed Elon Musk, a man with a long history of picking fights with the SEC, breaking labor laws, and being a manchild - why would they expect something different?

It is only after he bought Twitter that he revealed his true self. Up until that time he seemed like a sane person.

You haven't been paying attention. This guy famously called a diver a pedophile because he insulted his half-baked submarine idea. That was 7 years ago.

Also, if you were really an investor ready to commit large amounts of money, you could do a basic amount of research and talk to people that have worked with Elon. I've known people that have worked for him going back over a decade and they have all had horrible things to say about him.

Re: Wall Street banks prepare to sell up to $3B in X loans next week

#86

Post by rurp » Sat, Jan 25, 2025, 9:35 PM UTC

bloopernova wrote: post #34

HDThoreaun wrote: post #13

Earlier quoted context omitted.

These loans have nothing to do with twitters value though. The question is will musk pay the debt off, not whether twitter will become more valuable. Right after the deal was done investors wondered musk might just let the loans default and give twitter to his creditors, but now that it seems so important to him politically he is less likely to do that.

I am less sure that x means anything to musk. I could absolutely see him shut it down in a fit of anger. Although that's based on a very distant view of his actions, maybe in private he's 100% on board.

I don't know, for the past few years Elon has seemed more passionete about trolling on Twitter than literally anything else in the world. One of the first changes after the purchase was to make it so that his tweets got special rules so they show up to everyone whether they like it or not. He currently posts on it a gazillion times per day.

Maybe in the future his attention will drift elsewhere, in which case yeah he'll let the company die without a second thought, but we don't seem to be anywhere near that point these days.

Re: Wall Street banks prepare to sell up to $3B in X loans next week

#87

Post by stefs » Sat, Jan 25, 2025, 10:08 PM UTC

thinkcontext wrote: post #79

Theodores wrote: post #30

Earlier quoted context omitted.

He bought himself into the White House as a tech-bro Rasputin, probably the most paid for that level of influence, so we can expect him to get his money's worth.

He has made many times his money back in the value rise in Tesla and SpaceX.

but the value of tesla and spacex didn't rise because of him having control of twitter, it would have risen regardless.

Re: Wall Street banks prepare to sell up to $3B in X loans next week

#88

Post by breadwinner » Sat, Jan 25, 2025, 10:10 PM UTC

OnlineGladiator wrote: post #85

breadwinner wrote: post #84

Earlier quoted context omitted.

It is only after he bought Twitter that he revealed his true self. Up until that time he seemed like a sane person.

You haven't been paying attention. This guy famously called a diver a pedophile because he insulted his half-baked submarine idea. That was 7 years ago. Also, if you were really an investor ready to commit large amounts of money, you could do a basic amount of research and talk to people that have worked with Elon. I've known people that have worked for him going back over a decade and they have all had horrible thin…

Right, he did call a diver a pedophile. But overall he seemed sane back then. As far as people who worked with Musk saying horrible things about him, isn't that true for just about every CEO?

Re: Wall Street banks prepare to sell up to $3B in X loans next week

#89

Post by [deleted] » Sat, Jan 25, 2025, 10:20 PM UTC

breadwinner wrote: post #88

OnlineGladiator wrote: post #85

Earlier quoted context omitted.

You haven't been paying attention. This guy famously called a diver a pedophile because he insulted his half-baked submarine idea. That was 7 years ago. Also, if you were really an investor ready to commit large amounts of money, you could do a basic amount of research and talk to people that have worked with Elon. I've known people that have worked for him going back over a decade and they have all had horrible thin…

Right, he did call a diver a pedophile. But overall he seemed sane back then. As far as people who worked with Musk saying horrible things about him, isn't that true for just about every CEO?

[deleted]

Re: Wall Street banks prepare to sell up to $3B in X loans next week

#90

Post by OnlineGladiator » Sat, Jan 25, 2025, 10:24 PM UTC

breadwinner wrote: post #88

OnlineGladiator wrote: post #85

Earlier quoted context omitted.

You haven't been paying attention. This guy famously called a diver a pedophile because he insulted his half-baked submarine idea. That was 7 years ago. Also, if you were really an investor ready to commit large amounts of money, you could do a basic amount of research and talk to people that have worked with Elon. I've known people that have worked for him going back over a decade and they have all had horrible thin…

Right, he did call a diver a pedophile. But overall he seemed sane back then. As far as people who worked with Musk saying horrible things about him, isn't that true for just about every CEO?

There is a difference between "wow my CEO really sucks" and "wow my CEO had another kid with an employee, regularly talks about the importance of breaking labor laws, shows up to work visibly high on a regular basis, and enjoys making racist comments about Apartheid."