Musk and Twitter

[JTHunter]

If Musk dumps his 9.2% stake in twaddle, won't that cause other shares to tank as well?
Could he be using that tactic to "convince" (coerce) others to sell to him to avoid a meteoric crash in their shares prices? 

[AZRedhawk44]

https://www.dailymail.co.uk/news/article-10718427/Elon-Musk-tries-buy-Twitter-41billion-Tesla-CEO-offers-54-20-share.html

'How much of Twitter does the Kingdom own, directly & indirectly? What are the Kingdom’s views on journalistic freedom of speech?' Musk asked bin Talal.

I personally don't think he actually wants Twitter.  He does love tweaking political extremists, and he's been at odds with both Trump and Biden in the past.

I think he's after a good old payday here though.  He's going to drive the stock price up and liquidate his shares.  Twitter is a cesspool.  Freedom of speech is pointless at 148 characters or whatever their size limit is for a tweet.  You can't reason, you can't elucidate.  You can only exclaim and rile people up.  It's a soundbite platform.

That, and Musk has long said that his companies exist for the purpose of making mankind multiplanetary.  Twitter isn't even within an order of magnitude as valuable as Starlink.  Dude will be the first trillionaire when that is fully operational.

[Ben]

I personally don't think he actually wants Twitter.  He does love tweaking political extremists, and he's been at odds with both Trump and Biden in the past.

I think he's after a good old payday here though.  He's going to drive the stock price up and liquidate his shares.  Twitter is a cesspool.  Freedom of speech is pointless at 148 characters or whatever their size limit is for a tweet.  You can't reason, you can't elucidate.  You can only exclaim and rile people up.  It's a soundbite platform.

On the first, I'm starting to lean that way probability-wise.

On the second, Gotta agree. It's basically shouting headlines with no story. I think Twitter would have been the bomb for what was supposed to have been a big part of its mission on launch: A way to communicate  important information quickly in emergencies, or in foreign lands where a totalitarian government is shutting down free speech, etc. It turns out Twitter is the totalitarian though.

[Bogie]

If anyone cares, @bogiestl

[WLJ]

Hmmm

‘It’s Get-Out-The-Popcorn Time’: Musk Could Buy Twitter Even If His Offer Is Refused. Here’s How.
https://www.dailywire.com/news/its-get-out-the-popcorn-time-musk-could-buy-twitter-even-if-his-offer-is-refused-heres-how

[Ben]

If nothing else, it has been entertaining to read the various outrage screeds by people afraid that points of views different from theirs might no longer be censored. It's also interesting that the loudest voices seem to be "journalists".

https://twitchy.com/brettt-3136/2022/04/14/daily-beast-columnist-says-if-we-walk-out-the-door-the-moment-elon-musk-takes-over-twitter-it-is-nothing/

[Bogie]

Seems like there are two kinds of people.
 
Those who think that you have the right to an opinion, even if it is not their opinion, and those who don't.
 
And those who don't seem to have a pretty fair amount of power.

[RocketMan]

Musk is no longer the largest shareholder in Twitter.  Vanguard has increased their stake to 10.3%.  I suspect Musk will sell his holdings and take whatever profits he can from the deal.  He's made his point, though it was kind of tilting at windmills for all the good it did.

[Ben]

Musk is no longer the largest shareholder in Twitter.  Vanguard has increased their stake to 10.3%. 

Well, I think this is the first time that I've ever been disappointed in Vanguard's investment strategy. I'll need to read up on why they did this. Up until now, they have always seemed to me to be good at focusing at making me money, not focusing on "social investing" bullshit.

[Ben]

Some good words from Glenn Greenwald:

https://twitchy.com/samj-3930/2022/04/15/this-glenn-greenwalds-thread-dragging-media-for-showing-how-desperately-they-crave-censorship-for-others-is-straight-freakin-fire/

[K Frame]

Well, I think this is the first time that I've ever been disappointed in Vanguard's investment strategy. I'll need to read up on why they did this. Up until now, they have always seemed to me to be good at focusing at making me money, not focusing on "social investing" bullshit.

My guess is that it's primarily about protecting the value of their position in the company and not about some social campaign.

A hostile takeover bid could ramp up Twitter's value short term, but it could just as easily end with a collapse in its value.

[Ben]

My guess is that it's primarily about protecting the value of their position in the company and not about some social campaign.

A hostile takeover bid could ramp up Twitter's value short term, but it could just as easily end with a collapse in its value.

I just don't understand why they're heavily invested in it in the first place. It's not that great performing of a stock.

[WLJ]

Twitter’s board of directors has issued a new “shareholder rights plan” to block Elon Musk’s proposed buyout offer, a major setback to the billionaire’s efforts to take full financial control of the company.

The plan was adopted “following an unsolicited, non-binding proposal to acquire Twitter,” the company’s board of directors noted in a press release announcing the change.

This maneuver, known in the finance world as a poison pill, blocks hostile takeovers by giving certain shareholders the right to purchase more stock if an outsider attempts to seize control.

Twitter board announces poison pill measure to block Musk buyout
https://www.theverge.com/2022/4/15/23024978/elon-musk-twitter-buyout-offer-ownership-deal-finance


Twitter Just Blocked Elon Musk Buyout With Poison Pill! What That Is & The Battle Is Just Beginning!
https://www.youtube.com/watch?v=4TZLM5nZAZI

[WLJ]

Another buyer is reportedly working on a potential bid for Twitter as entrepreneur Elon Musk is trying to buy the entire company with a massive $43 billion bid.

“Private equity giant Thoma Bravo is working on a possible bid for Twitter … setting up what could be a rival to Elon Musk’s offer for the social giant,” the New York Post reported. “It’s not clear what Thoma Bravo might bid or when it would present the Twitter board with its bid. The firm has an internal team working on the potential transaction.”

Another Buyer Working On ‘Possible Bid’ To Buy Twitter As Musk Tries To Take Over: Report
https://www.dailywire.com/news/breaking-another-buyer-working-on-possible-bid-to-buy-twitter-as-musk-tries-to-take-over-report

[fifth_column]

Twitter board sets up a "poison pill" defense:  AP News.

There's already talk by shareholders about legal action against the board for neglecting their fiduciary responsibilities. I gotta get more popcorn . . . .   

[bedlamite]

With this poison pill and all the buying, that will raise the price of the stock. At some point Musk may decide it's not worth it and sell. At that point the stock price will crash to what it's actually worth, Musk makes billions, and those that blocked him lose. He wins either way.

[Ben]

I'm not the only one wondering what Vanguard (and Blackrock) think they're doing. Good points about buying high, especially regarding Vanguard, whose motto is supposed to be "don't just do something, stand there".

If things come to pass as Bedlamite suggested, Vanguard is going to be looking pretty stupid.

https://twitchy.com/samj-3930/2022/04/15/not-a-financial-decision-it-never-was-jeff-carlson-lays-into-twitter-for-taking-poisonpill-to-reject-elon-musk-in-zero-punches-pulled-thread/

[Ben]

Oh, and Twitter just suspended "libsoftiktok". The equivalent sites making fun of what conservatives ay are all still active.

https://twitchy.com/samj-3930/2022/04/15/paging-elon-jonathan-turley-nails-twitter-in-brutal-thread-using-their-targeting-of-libsoftiktok-to-prove-how-biased-the-tech-giant-really-is/

[JN01]

If nothing else, it has been entertaining to read the various outrage screeds by people afraid that points of views different from theirs might no longer be censored. It's also interesting that the loudest voices seem to be "journalists".

https://twitchy.com/brettt-3136/2022/04/14/daily-beast-columnist-says-if-we-walk-out-the-door-the-moment-elon-musk-takes-over-twitter-it-is-nothing/

From the comments:

Dave is currently actively participating in the social engineering experiments of an out of control megalomaniac but lacks the awareness to recognize it.

[WLJ]

I'm still kind of thinking he's just messing with them

[fifth_column]

Oh, and Twitter just suspended "libsoftiktok". The equivalent sites making fun of what conservatives ay are all still active.

https://twitchy.com/samj-3930/2022/04/15/paging-elon-jonathan-turley-nails-twitter-in-brutal-thread-using-their-targeting-of-libsoftiktok-to-prove-how-biased-the-tech-giant-really-is/

They're back already.

[230RN]

Most entertaining thread evvvar.

With this poison pill and all the buying, that will raise the price of the stock. At some point Musk may decide it's not worth it and sell. At that point the stock price will crash to what it's actually worth, Musk makes billions, and those that blocked him lose. He wins either way.

You suppose we could hire him for a dollar a year as Secretary of National Strategy?

[RocketMan]

Musk is reportedly working with another potential investor to help him buy Twitter.

https://www.dailywire.com/news/musk-in-talks-with-investors-to-join-his-bid-to-take-over-twitter-report

[Ben]

No longer a Bond Vilian. Now a right wing extremist.

https://twitchy.com/dougp-3137/2022/04/16/occupy-democrats-support-twitters-corporate-takeover-defense-effort-against-right-wing-billionaire/

[WLJ]

 

Elon Musk points out that ‘with Jack departing, the Twitter board collectively owns almost no shares!’
https://twitchy.com/dougp-3137/2022/04/16/elon-musk-points-out-that-with-jack-departing-the-twitter-board-collectively-owns-almost-no-shares/