They are. Tesla stock has pretty much dropped every day since this nonsense began.
Losses and risk are for the little people, like taxes. When you are the richest person on earth, you can do whatever catches your fancy.
Now the word is out the Twitter buy may not happen, which is what many in Silicon Valley have suspected all along. I have always thought this entire nonsense was a pump and dump scheme.
We are talking about a guy who pulled a giant pump and dump scheme with dogecoin right out in the open, just brazenly doing in.
Honestly, I get the impression that Elon Musk is the world’s richest troll. He just says and does stuff to get attention. Occasionally what he says or does actually accomplishes something.
Reports are saying that the merger agreement allows him to walk away for a $1 billion penalty. If that’s true, it’s insane for Twitter to have granted this option to Musk, given the volatility of the markets. It would be frankly stupid for Musk not to exercise the option, or to use its existence to negotiate a lower price.
As I said in the other – now closed – thread, he’s like Trump with a much better moral compass.
I think it’s just safe to say he can no longer afford this, probably for a myriad of reasons including pissed shareholders, loan covenants, etc.
That’s all that’s happening.
The $1 billion penalty applies if there is an outside reason why the deal won’t close. If the deal doesn’t close because Musk changes his mind, it would go to court as a breach of contract case. The potential loss to Musk could be much higher.
Elon Musk can’t just walk away from Twitter deal by paying $1 billion (cnbc.com)
Hey, guys! I found Elon Musk’s moral compass:
Stranger
Thanks, that makes much more sense. $1 billion sounds like a vast amount of money, but as a percentage of the purchase price it’s tiny.
Moderating:
That’s overly personal for IMHO. If you think there’s a problem with thread shitting, please report it. Otherwise, you can respond to his criticisms or ignore them.
At least it points somewhere rather than endlessly spinning while trying to point at itself.
This line in your link makes me think that Musk’s talk about there being fewer troll and bot accounts than he thought is an attempt to bail:
A buyer can also walk if there’s fraud, assuming the discovery of incorrect information has a so-called “material adverse effect.”
The report he is complaining about was released 11 days ago. There have been no material changes in the bot situation at Twitter since then, at least, none as impactful as having your net worth drop 30% and losing all your crypto gains.
Talking like Yoda, you are?
Wise like Master Yoda, she is. Do worse than talking like Master Yoda, she could.
Now he is looking for a sample of 100 Twitter accounts so he can make his decision.
Really, once all this is said and done, and he walks away with whatever excuse he can come up with for fucking this thing up as badly as he did, the poet in me wants this episode to be known as the Musk Busk.
Fixed
He really is using such a small sample? Then the decision has been made already.
Tweet 1:
Tweet 2: