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Twitter (TWTR) begins deal talks with Elon Musk, caving to shareholder pressure

Twitter has changed its mind again about Elon Musk acquiring the company, to the delight of some shareholders.

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Twitter's board of directors are rumored to be caving to shareholder pressure to take Elon Musk's deal. It appears that Elon Musk may be willing to negotiate a price higher than the original $43 billion offer. It is now more likely than ever that Elon Musk will strike a deal with the social media company as soon as this week.

This is a somewhat strange about-face for the Twitter board of directors, but Musk even pointed out in in a reply to Twitter Co-founder Jack Dorsey that the board had a very low level of ownership relative to a lot of companies. This appears to have angered shareholders to the point that the board had to go back on their decision to enact a poison pill to prevent a hostile takeover from Elon Musk.

Musk was rumored to be working with several large institutions on a partially debt-financed deal that would top the previous $43 billion attempt. Rumored to be $46.5 billion, that would be a nice gain for TWTR shareholders from Friday's close of $48.92/share. 

Twitter's monthly chart since it began trading showcases the leadership's incompetence for nearly a decade.
Twitter's monthly chart since it began trading showcases the leadership's incompetence for nearly a decade.

This Thursday, Twitter's earnings results will be reported, and many analysts believe the company will take some time during the conference call to address the talks with Elon. There is also a chance that Musk and Twitter will have come to an agreement before the results are even posted.

Some things about a Post-Elon Twitter sound horrifying to users, but Musk has pitched an edit tweet button, and seems hell-bent on getting rid of all the verified crypto bots that spam his replies. With 81 million followers on Twitter, you really have to wonder what percent of them are bots.

We will be sure to keep everyone updated as this ridiculous story continues to unfold.


This article is only meant for educational purposes, and should not be taken as investment advice. Please consider your own investment time horizon, risk tolerance, and consult with a financial advisor before acting on this information.

Full Disclosure:

At the time of this article, Shacknews primary shareholder Asif A. Khan, his family members, or his company Virtue LLC had the following positions:

Long Twitter via TWTR shares

Luminary

Asif Khan is the Luminary and majority shareholder of Shacknews. He began his career in video game journalism as a freelancer in 2001 for Tendobox.com. Asif is a CPA and was formerly an investment adviser representative. After much success in his own personal investments, he retired from his day job in financial services and is currently focused on new private investments. His favorite PC game of all time is Duke Nukem 3D, and he is an unapologetic fan of most things Nintendo. Asif first frequented the Shack when it was sCary's Shugashack to find all things Quake. When he is not immersed in investments or gaming he is a purveyor of fine electronic music. Asif also has an irrational love of Cleveland sports.

From The Chatty
    • reply
      April 25, 2022 12:45 AM

      Where's that ugh tag, lol.

    • reply
      April 25, 2022 5:19 AM

      Reuters reporting that from inside sources, Twitter's board looking like it will take Musk's "best and final" offer

      https://www.reuters.com/technology/exclusive-twitter-set-accept-musks-best-final-offer-sources-2022-04-25/

      • reply
        April 24, 2022 8:51 PM

        Twitter is no actively discussing possibly negotiations with Elon Musk. For everyone who thought Facebook was a breeding ground for mobs, if one heavily opinionated person who sometimes borderlines on unhinged actions is allowed to have full control over mass communications, we may be fucked way sooner than realized.

        This is actually kind of scares me to think about.

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          April 24, 2022 8:54 PM

          I'm way out of the know when it comes to stuff like this, but can't they just .... not sell? Is there something having to do with stock ownership or something like that that compels Twitter to put their platform on the market? I don't know how this stuff works.

          • reply
            April 24, 2022 8:55 PM

            They can do lots of things to block him, but they'r doing the opposite. they're actively considering selling to him instead of trying to block him.

            • reply
              April 24, 2022 8:56 PM

              Yeah, but before it got to this stage, it seemed like there was something compelling Twitter to sell when they seemingly didn't want to. They had to initiate that "poison pill" thing for some reason, right?

              • reply
                April 24, 2022 9:02 PM

                They are agents serving the collective will of the shareholders, they are not supposed to act on their own interests.

                • reply
                  April 24, 2022 9:04 PM

                  I hate the stock market yet realize that I'm part of the problem because of course I have money invested in it because it's one of the best ways to build money for retirement, but I have a strong feeling that the world would be better of if it had never existed.

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                    April 24, 2022 10:14 PM

                    In that scenario wealth would be concentrated with the few who own massive companies (far more so than now) with no way for anyone else to get in on reaping any financial benefits of those companies successes.

                    You are correct that investing is one of the best ways to grow your money for retirement, now imagine if that was taken away and your only options were government bonds or other super low interest bearing products where you barely beat inflation (if you do at all in the first place).

                    People in the middle class would be far, far worse off.

                    • reply
                      April 24, 2022 10:20 PM

                      Fair points all, I just know that the things companies do in the interest of shareholders often seem really fucking shitty.

                      • reply
                        April 25, 2022 10:54 AM

                        Companies are controlled by their owners. If a company is open to public ownership, then anyone can be a part owner (shareholder) and said part owners jointly control the company. Do you believe that companies acting in the interests of public owners is somehow more nefarious than companies acting in the interests of private owners?

                  • reply
                    April 25, 2022 10:14 AM

                    I mean, blame the folks who set up the system.

                    Our current method of having 401k investments as the primary method of saving for retirement absolutely props up the stock market and makes it more stable for wealthy investors.

                    It isn't an accident it's set up that way.

                    • reply
                      April 25, 2022 10:59 AM

                      What else should retirement accounts use to grow?

                      • reply
                        April 25, 2022 11:27 AM

                        Don't other countries do it differently?

                        I know a lot of European countries more heavily fund things like social security. Or we could require companies to offer pensions. I know in some European countries, company funded pensions are way more common.

                        There are a lot of tools we could use to lessen our reliance on a 401k. But they're all pretty fundamental changes with how a society operates.

                        • reply
                          April 25, 2022 11:55 AM

                          Pension funds invest in the stock market.

              • reply
                April 25, 2022 3:19 AM

                now that he's lined up the money, they have to consider his offer. doesn't mean they'll sell to him though, it just means they have to take him seriously.

        • reply
          April 25, 2022 1:02 AM

          It’s more likely if he runs it into the ground and there is a mass exodus.

          • reply
            April 25, 2022 2:46 AM

            That would be the best case scenario.

            The people who run Twitter are obvious asshats, but Musk is a different breed. With the trolling and bullshit he spews on there can you imagine him having admin?

          • reply
            April 25, 2022 6:41 AM

            There’s no place to go, that’s kind of Elons point. Twitter is very unique in the social media realm.

        • reply
          April 25, 2022 2:50 AM

          is no = is now?

          • reply
            April 25, 2022 3:16 AM

            yes. now that elon lined up the money, the board has a fiduciary duty to consider his offer.

        • reply
          April 25, 2022 3:54 AM

          I'm okay with Twitter falling apart and less people using it.

          • reply
            April 25, 2022 5:28 AM

            I'd hate that, personally; it's become one of the best resources I've found for keeping up with new developments and research in my field.

            • reply
              April 25, 2022 5:37 AM

              Yup. There are a lot of assholes to ignore, but I love it for retro gaming and 3d printing news and conversations.

            • reply
              April 25, 2022 6:30 AM

              What field is that? Colonialism?

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                April 25, 2022 7:04 AM

                I know you’re probably joking but :(

              • reply
                April 25, 2022 8:51 AM

                Funny you mention that, I'm actually having dinner at a former British circuit house right now. Oh, and the field is mental health counseling with a focus on using VR as a treatment methodology.

          • reply
            April 25, 2022 6:46 AM

            If that were how things actually worked that would indeed be fine. But, for example, despite proving itself to be a complete detriment to society Facebook still exists and continues to metastasize.

        • reply
          April 25, 2022 4:03 AM

          Elon transitioning to his Rupert Murdoch phase

        • reply
          April 25, 2022 5:47 AM

          Request to merge the 3 threads on this topic already on the Chatty

        • reply
          April 25, 2022 6:50 AM

          If I'm being honest with myself, I probably won't delete it the first day, the moment Trump is unbanned, I'm gone though. No Regerts!

      • reply
        April 24, 2022 10:01 PM

        Here’s a metralgia prediction for you. Elon buys twitter, lets trump back on and in Nov we all thank Elon because dems win supermajorities because trump goes crazy and sparks a minor riot that is like a Jan 6th all over again and the Republican Party is toast for a decade.

        You heard it hear first shacknews.

        • reply
          April 24, 2022 10:05 PM

          The fact that these types of theatrics are actually plausible in our current times makes me want to jump off a building.

        • reply
          April 25, 2022 5:06 AM

          The fact January 6th wasn't the death knell of Trump and Republicans should tell you something. In fact they are poised to quite possibly take back both the House and Senate. A second riot might make them even more powerful.

          • reply
            April 25, 2022 5:18 AM

            Yeah January 6 got Trump finally banged on social media but other than that it’s lack of bringing positive change is super depressing

          • reply
            April 25, 2022 8:48 AM

            ^^^This. Has anyone ever heard of a coup attempt taking place and then the country continuing on as normal even though the coup plotters and participants are still active?

            • reply
              April 25, 2022 11:18 AM

              It’s usually not the first coup that works; often they are seen as amateurish or a joke that went to far abs then they learn from mistakes and “git gud” at coups

        • reply
          April 25, 2022 5:33 AM

          Elon buys twitter, ruins the brand and drives millions away. Elon ends up broke, force to sell everything he owns to cover the debt. He spends his final days selling RC toys on the home shopping network. A decade later, Asif Khan buys twitter for pocket change and merges it with Myspace which he also buys in the upcoming decade. Meanwhile Weichai-Space-X begins to mine asteroids and explore the outer solar system.

          • reply
            April 25, 2022 5:37 AM

            This is the alt reality I want to believe

        • reply
          April 25, 2022 5:41 AM

          Prediction: Trump rejoins Twitter but still loses in 2024 because the real reason he won the general election in 2016 is because Democrats didn’t bother to show up. They thought Hillary was gross but she had it in the bag so why bother. The record turnout in 2020 is a reflection of this.

          Also probably a large percentage of the number of people who died of COVID post-vaccine in 2021 would have been potential Trump voters and he didn’t win by that many in 2016 to begin with.

          The best case scenario is Trump dies or is incapacitated by 2024 because having him on the ticket is playing with fire but it would be a good motivator.

          I think the only thing Trump could do to hurt the GOP in 2022 is sabotage it because his primary party picks didn’t win their primaries.

          Also the only way 1/6 part 2 would actually make a difference is if they actually succeed in killing Congress members. Since “no one was hurt” in 1/6 (in congress anyway) it’s been easier to sweep under the rug.

          • reply
            April 25, 2022 8:51 AM

            Does it matter if Trump himself is there or not though? He’s already accomplished the goal of turning the party into an overtly fascist entity that acts on that ideology completely independent of him.

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              April 25, 2022 8:58 AM

              You may be right, but there’s a rift forming between people who want to move on from 2020 and people who suck on his dick. As long as he’s around he keeps fueling the fire.

              The GOP is a cult and Trump is their cult leader, but very few cults survive the death of their leader.

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                April 25, 2022 9:45 AM

                I'm kinda wanting Trump to die of natural causes right after the Republican Party anoints him as the candidate to run against Biden (or whomever is the Democrats' candidate for 2024)

                And Elon is his running mate.

                Can you imagine the shit storm that would create?

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            April 25, 2022 10:12 AM

            the amount of voter suppression going on in "close" states in favor of republicans is more than going to cover the delta from people dying of Covid and generally from being older, and the dems have done NOTHING to get younger people out to vote

        • reply
          April 25, 2022 8:16 AM

          lol @ GOP being "toast," especially as a result of their own actions

      • reply
        April 25, 2022 5:28 AM

        Watch him back out for some reason

        • reply
          April 25, 2022 5:41 AM

          for some reason because he's an unbearable attention whore

      • reply
        April 25, 2022 5:29 AM

        I think I’ll just stop using it if he buys it. I probably spend too much time on that shitty app anyways

        • reply
          April 25, 2022 5:39 AM

          I hope more/many/most folks will do that, but I have zero faith in common sense & decency these days.

      • reply
        April 25, 2022 5:33 AM

        That’s a lot of money to spend to let Trump back on Twitter

      • reply
        April 25, 2022 5:37 AM

        I’m actually shocked this is going to happen.

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          April 25, 2022 5:42 AM

          Why? These top investors don't sit on some moral high ground. They're there to make money and it sounds like Musk hit the sweet spot.

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            April 25, 2022 5:43 AM

            Yea just the posturing change bedroom being super dismissive to inking it within like 2 weeks.

            ER must not be awesome

          • reply
            April 25, 2022 6:36 AM

            Because usually boards negotiate, for one - why take the first offer

      • reply
        April 25, 2022 5:41 AM

        Well, all things must come to an end I suppose.

      • reply
        April 25, 2022 5:48 AM

        fuckin a.

      • reply
        April 25, 2022 5:54 AM

        Interesting

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        April 25, 2022 6:01 AM

        Sigh. I really hope Twitter doesn't become a libertarian social experiment in the limits of "free speech."

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          April 25, 2022 6:04 AM

          Dude, not only will it be anything goes a lot of people will just get harassed off the platform.

      • reply
        April 25, 2022 6:02 AM

        Man, this really sucks. It was the best place to get breaking cyber sec news and lots of great journalists to follow. No way journalists will be safe on the platform now. I guess I'll have sign up for an RSS feed service and curate some stuff.

      • reply
        April 25, 2022 6:18 AM

        RIP Twitter

      • reply
        April 25, 2022 6:41 AM

        Fuck, this is really bad.

      • reply
        April 25, 2022 6:43 AM

        Honestly doubt much will change for most people. It's not like Twitter's current or past leadership were any better just less visibly annoying. We'll see.

      • reply
        April 25, 2022 6:45 AM

        Can't wait for the even freer speech

      • reply
        April 25, 2022 6:46 AM

        Here is an example of how Musk's companies treat descent https://twitter.com/nicoleperlroth/status/1518569530217226241?s=20&t=eewLgqOn40Af_J2FR81vhw

      • reply
        April 25, 2022 6:51 AM

        Elon is gonna be the dog that catches the car. Fucking now what? The business is still the same, he’s never said anything about how he’ll make it more valuable, instead it’s this misguided bullshit campaign about “free speech”.

        Go play in Space instead of this stupid shit

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        April 25, 2022 6:57 AM

        Kinda a bummer, but I get why they took it. Twitter as an investment has been stagnant. There doesn’t seem to be anything coming out of there either. Seems like lot of employees for what they do.
        They can use a shake up, just not sure I really wanted Elon at the helm. I guess at least he uses the product 🤷‍♂️

      • reply
        April 25, 2022 7:47 AM

        This sucks. Twitter was not perfect but in general it was trying, more or less.

        If Elon has any saying, it'll be trying the wrong thing now, which can only fuck everything up. It'll become 4chan.

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          April 25, 2022 7:49 AM

          Curated Twitter is great for breaking news (if you follow respectable journalists) and links to longer-form content and essays, but you have to manage your feed.

          If he goes hard for "free speech whatever the cost" and "wild west" it's definitely going to be a mess.

      • reply
        April 25, 2022 8:15 AM

        I don’t really give a shit about twitter for myself but this whole thing really highlights how fucked up the wealth disparity is and how much control and power you have if you have all the money.

        • reply
          April 25, 2022 8:45 AM

          exactly fuckin' this. the billionaires are so bored they are going to space or buying out entire media franchises.

          they wield immense power, because the poker tables of life aren't designed for someone to come in and go "nice pot and bets you have, person on the high stack you look pretty fortunate. I'm jumping in and my stack is several billion times larger than yours. here we go"

    • reply
      April 25, 2022 6:57 AM

      "Great to be back, and thank you to a tremendous, frankly a tremendous business man and truly rich person, Elon Musk, or as I call him, Elon. Looking forward to working closely with him during my next administration on free speech and Big tech censorship of Conservative Voices!!"

    • reply
      April 25, 2022 7:01 AM

      Can they delete the whole fucking platform right after the deal goes through?

      • reply
        April 25, 2022 9:48 AM

        "What do you mean you dropped all the tables? I just said I don't want any unions!"

    • reply
      April 25, 2022 8:15 AM

      I hope they completely delete Trump’s account and all backups before he takes over. Just nuke the tweets, the followers, everything. Make him work for a following again if he’s reactivated

      • reply
        April 25, 2022 9:50 AM

        That actually would be a fair way to handle a shitlord like Trump.

        Especially if they could keep bots from registering an account.

    • reply
      April 25, 2022 9:00 AM

      Gonna be bought by a guy that used Twitter to bully a diver about being a pedophile during the cave rescue

      Jfc

    • reply
      April 25, 2022 9:00 AM

      I can’t stand Elon but don’t really get the meltdowns over this tbh.

      If he wants to spend $50bn on Twitter then who cares? Why is this so much worse than it being run by whoever is doing it at the moment?

      It’s already a cesspit and he’s quickly going to discover that running a social network is miserable and thankless.

      • reply
        April 25, 2022 9:13 AM

        Because he has weird motives and is spiteful. You don’t want a guy like that running a media company which was shown to have major influence over elections worldwide.

        Why IS he throwing so many billions at Twitter? What does he want out of it?

        • reply
          April 25, 2022 9:17 AM

          Nah he's just 55 billion concerned about freedom of speech

          • reply
            April 25, 2022 9:18 AM

            So he must be concerned with anti-CRT and anti-LGBTQ legislation popping up in states? And voter suppression? And book banning?

        • reply
          April 25, 2022 9:23 AM

          Why'd he launch a car into space? He's a weird guy indulging his weird gen X hangups and his vision of the internet circa 2003.

          If he fucks with it too much people will stop using it. If he doesn't it will just continue to be the exact cesspit it already is.

          Like if he was buying out NPR or something I'd get the fuss, but it's Twitter.

          • reply
            April 25, 2022 9:32 AM

            Twitter is surely more impactful to the world than like all of NPR. You are underestimating its influence I think. It's obviously a huge deal that a megalomaniac is trying to buy it for megalomaniacal reasons (also to manipulate stock).

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            April 25, 2022 9:34 AM

            You can be almost certain he will give trump his twitter platform back. According to elon, twitters problem is censorship, not abuse.https://www.wsj.com/articles/elon-musk-contends-censorship-not-abuse-is-twitters-problem-11650015000

            How many times did you hear "Trumps tweets" the last 5 years? Going back to 2009 he twetted 57,000 times https://news.sky.com/story/trumps-tweets-infamous-offensive-and-bizarre-posts-by-atrealdonaldtrump-12182992 If you wanted to relaunch a trump campaign for president this has to be one step along the way. Anyway, I loathed the trump presidency so that's why I care

            • reply
              April 25, 2022 9:37 AM

              This is one of the crazy things here, he hasn’t shown any indicators on how he’d improve Twitter as a business. So instead he’s buying it seemingly to be a shithead (not surprising)

              • reply
                April 25, 2022 9:42 AM

                He's gonna add an edit button and let you tweet longer :|

              • reply
                April 25, 2022 11:03 AM

                Pretty sure the steps he wants to take would harm it “as a business,” which is why he wants to take it private. He’s said he would crank down hard on bot accounts, which would reduce active user numbers, which is something a public company would avoid doing at all costs.

              • reply
                April 25, 2022 11:18 AM

                this is about stock manipulation opportunities. the SEC spats have highlighted his reasons for wanting to privatize twitter.

                he wants to monetize churn, monetize crypto speculation, all sorts of things. millions of people will lose their life savings.

          • reply
            April 25, 2022 9:50 AM

            You forget:
            Free speech now means: right to be a selfish asshole
            Freedom of speech now means: not having consequences of being a selfish asshole

            That’s what he wants. Be a dick without consequences.

      • reply
        April 25, 2022 9:29 AM

        Because he's a libertarian nutball, doing this for nebulous reasons involving "free speech."

        Because likely one of his first acts will be to restore Donald Trump's account.

        Because he's literally used his companies to go after his perceived enemies in the past.

      • reply
        April 25, 2022 10:15 AM

        Because of how petty he is, remember when he hired an investigator and made up fake pedophile claims against one of the divers rescuing those kids in thailand, just because he wanted to step in to "save them" and got laughed off? Putting the douchenozzle responsible for that in charge of one of twitter is really bad for everyone

        • reply
          April 25, 2022 10:31 AM

          He also regularly bans people who are simply critical of him, even in completely justifiable areas, like famously the Electrek editors.

          • reply
            April 25, 2022 10:32 AM

            Those dudes BTW are both Tesla owners and I think shareholders as well.

          • reply
            April 25, 2022 10:34 AM

            bans them from what? SpaceX? Tesla?

            • reply
              April 25, 2022 10:37 AM

              [deleted]

              • reply
                April 25, 2022 10:45 AM

                I agree it's stupid and petty and hardly worth mentioning, which is why I provided it as a supporting statement to him being... petty. I think it's also a window into how he defines "freedom" in the context of the platform. He has also shut down the PR department at Tesla. People might start to believe his idea of "freedom of information" is anything that he agrees with, and those who have access are those who agree with him. Again, who cares right? Except when he owns the whole platform. But then again those who are saying twitter was garbage already are right IMO. But if you care about twitter, then I think you should be concerned about him buying the whole thing.

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        April 25, 2022 10:30 AM

        i think people are rightfully concerned with the health of the platform right now. And Elon in live interviews has shown that he really has no idea what goes into trying to govern these platforms, really leaning into his belief that no governance is needed. Combined with the direction that laws are going ( https://www.usatoday.com/story/tech/2022/04/22/european-union-law-meta-facebook-google/7419892001/ ) I think people have a right to question whether he can successfully lead efforts in these areas. Combine that with the fact that he'd now be the CEO of 4 companies, and the shareholders or those who have interests in his other efforts should be justifiably concerned.

        • reply
          April 25, 2022 10:36 AM

          I predict four years from now, the EU slapping Twitter with the largest fine in tech history because Elon disregarded their new rules.

          And then he'll pull Twitter from every country in the EU out of spite.

          • reply
            April 25, 2022 12:06 PM

            If AI can actually be used to successfully police this stuff, it would be amazing. But the promise of AI in this area has never been fulfilled at the level of those promoting have promised. And I think humans have an incredible capacity for adaptation that will always outpace it.

      • reply
        April 25, 2022 10:37 AM

        Where did the money for this cash offer come from? He isn't buying it with his own money.

      • reply
        April 25, 2022 2:19 PM

        Maybe you don't know Elon enough. Because if you did you would know how you just handed a really big weapon to a petty troll with unlimited power.

      • reply
        April 25, 2022 2:46 PM

        For me? This is an astronomical amount of money that, if he realty cared about humanity, could be put to better use.

        I’m not naive, I get investors aren’t going to band together and drop $50B on “solving world hunger” but c’mon. This is some fucking grade a greedy gross fucking horseshit.

    • reply
      April 25, 2022 9:30 AM

      [deleted]

      • reply
        April 25, 2022 9:31 AM

        Facebook has been run worse than Twitter and has a much larger negative impact. It has like 10x as many active users.

        • reply
          April 25, 2022 9:40 AM

          Yeah they are both shit.

        • reply
          April 25, 2022 11:48 AM

          Facebook is directly complicit in at least one genocide, to date.

    • reply
      April 25, 2022 9:50 AM

      So what do you think Trump’s first tweet back is going to be?

      • reply
        April 25, 2022 9:56 AM

        “Thanks Elin for fighting against the do nothing liberal left and restoring my free speec which was stolen from me. Donate here.”

        • reply
          April 25, 2022 9:56 AM

          It wouldn’t shock me if his first tweet was announcing his officially running in 2024

    • reply
      April 25, 2022 9:54 AM

      Guys twitter was already terrible

      • reply
        April 25, 2022 9:54 AM

        …and it’ll get worse

      • reply
        April 25, 2022 10:04 AM

        I thought the same thing for over a decade until I started curating my feed, it's been a great tool for me ever since.

        • reply
          April 25, 2022 10:08 AM

          Yeah, Twitter's overall user experience is a function of who you follow. Admittedly other stupid shit in the algorithm will still lead to me seeing shit I don't want to, but unfollowing, muting, and blocking helps on that front.

        • reply
          April 25, 2022 10:24 AM

          Yup. It's so much better if you put some work into it (and still leverage your critical thinking).

        • reply
          April 25, 2022 11:41 AM

          People can say that about Facebook and Reddit as well but of course it doesn't stop the vitrol (and shouldn't)

      • reply
        April 25, 2022 10:13 AM

        With moderation/muting, it was bearable, and it still had a lot of people there in the groups I follow (gamedev, creative tech). They'll likely just have more reasons to quit, and likely not to Mastodon.

    • reply
      April 25, 2022 10:15 AM

      Can he buy Facebook next and kick my extended family off of it

    • reply
      April 25, 2022 10:18 AM

      Can’t wait for Trump tweets, lots more Covid misinformation. It’s going to be great…

    • reply
      April 25, 2022 10:22 AM

      The amount of right wing shit heels already cheering this is positively nauseating.

    • reply
      April 25, 2022 10:35 AM

      No matter how many Americans quit Twitter, the world will keep using it and Elon will get the attention he wants

    • reply
      April 25, 2022 10:39 AM

      Let's face it the people really upset about this are doomposters who have to shove in everyone's face what dumbfuck #2113 said on the internet if we are supposed to give a shit about it.

      • reply
        April 25, 2022 10:41 AM

        Oh apologies, is it not okay to be upset about a dipshit like Elon Musk , whiteknighting his dipshitness into Twitter?

      • reply
        April 25, 2022 10:43 AM

        Trump attempted overthrow the government via Twitter.

        • reply
          April 25, 2022 10:46 AM

          Yeah he isn't thinking this through. It was very damaging to this country to have Trump on Twitter.

          • reply
            April 25, 2022 10:50 AM

            [deleted]

            • reply
              April 25, 2022 10:53 AM

              Preventing someone from shitting in the shopping mall fountain isn't censorship.

            • reply
              April 25, 2022 10:56 AM

              Tolerating intolerance is the death of civility.

              Not all speech is equal, nor protected.

            • reply
              April 25, 2022 10:57 AM

              Saying literally anything you want in any forum is not what "free speech" is.

            • reply
              April 25, 2022 11:00 AM

              Yelling “fire!” deceptively in a crowded theater isn’t allowed.

              this is yelling a more deadly thing in a crowded country instead of theater.

            • reply
              April 25, 2022 11:01 AM

              the fire in a crowded theater issue tries to cover bad faith in light of horrible repercussions from said free speech. people get trampled and die. that's the deliverable.

              trumpers saying masks are fake, take horse dewormer, drink bleach... same thing. people die. free speech combined with bad faith and other sabotage means it needs to be corrected.

              free speech used to be the path, but in the era of malevolent and deliberately hostile "free speech" we have no recourse but to shore it up.

              TLDR: because of trump mentality, we cannot have nice things. abuse needs to be corrected.

              • reply
                April 25, 2022 11:02 AM

                [deleted]

                • reply
                  April 25, 2022 11:06 AM

                  USPS is a government agency. Not the same thing. But I'm sure you know this and you're just trying to post dumb things because you're trying to get a rise out of people.

                  • reply
                    April 25, 2022 11:12 AM

                    [deleted]

                    • reply
                      April 25, 2022 11:12 AM

                      [deleted]

                    • reply
                      April 25, 2022 11:16 AM

                      Trump is a "dissenting voice"? Now I know you're trolling.

                      Anyway, no one wants to remove truly dissenting voices. They want to remove voices that are spreading lies and actively and directly causing harm because they benefit from it.

                      • reply
                        April 25, 2022 11:26 AM

                        [deleted]

                        • reply
                          April 25, 2022 11:30 AM

                          I did and you replied to my statement as if banning Trump from Twitter for riling up the country with false election fraud claims is censorship.

                        • reply
                          April 25, 2022 11:32 AM

                          Your initial post in this subthread was about Trump and censorship.

                          Anyway. Most people don't want true good faith dissenting conversation removed. They want the flat out lies, and hate to be less accessible to people who are willing to blindly follow it.

                    • reply
                      April 25, 2022 11:16 AM

                      Ah so you want the Nazis back and to see our LGBT+ friends not exist. Good to know exactly where you stand.

                    • reply
                      April 25, 2022 2:25 PM

                      It's almost like you don't have a clue what lead to him being blocked in the first place. It wasn't just "dissenting" voices.

                • reply
                  April 25, 2022 11:08 AM

                  horribly misguided attempt at an analogy. not even remotely in the ballpark

              • reply
                April 25, 2022 11:20 AM

                I don't have a problem with there not being a law against specifically yelling "fire" in a crowded theater. Connecting incitement to the destructive acts of others is very difficult. It's only really possible when a specific victim and premeditation is involved. Charles Manson comes to mind immediately, because I consider Trumpers to basically be cultists.

                This one also comes to mind: https://en.wikipedia.org/wiki/Death_of_Conrad_Roy I have serious doubts that a jury would have convicted her.

                I'm of the opinion that words matter but it is understandable that drawing straight lines from a legal point of view is very messy. Would the author of Catcher in the Rye be held in some way responsible for the death of John Lennon on the basis that the murderer found inspiration in the book to commit the act? The specificity that the law requires is at odds with how specific we can get for the methods at work both at an individual and societal level.

            • reply
              April 25, 2022 11:26 AM

              Slippery Slope Trollism

            • reply
              April 25, 2022 11:42 AM

              Is that what they do? Is it true censoring?

            • reply
              April 25, 2022 11:54 AM

              Lol some of you guys have no idea what censorship means.

            • reply
              April 25, 2022 12:07 PM

              Twitter is an independent organization and is in no way required to allow any and all speech. Seriously, "freedom of speech" does not mean you can go anywhere, anytime, use and service, and say anything you want. It means the government can't arrest you for said speech.

              • reply
                April 25, 2022 12:08 PM

                [deleted]

              • reply
                April 25, 2022 12:13 PM

                You can have censorship without involving the government.

                Yes the "first amendment" arguments are specific to the government suppressing free speech and usually not applicable to private companies.

                But private companies can absolutely create and implement systems of censorship.

              • reply
                April 25, 2022 2:32 PM

                Freedom of speech is an ideal for Americans. There are legal requirements on the government that aren't there for private companies, but the ideal is there for all and ought to be implemented as much as possible in society. That ideal is the town square debate and it came as a result of church history, when you weren't allowed to question the status quo or the clergy would shut you down / get the town against you. People said the same things back then that they do now - you can't just let anybody share their terrible view of things. Like before, you've got a technology advancement as the engine of change (printing press and internet). Like before, people are demonizing others and are afraid of allowing people to choose for themselves what is good and what is bad.

              • reply
                April 25, 2022 3:16 PM

                Yeah, the only way to do that would be to nationalize Twitter/Facebook/etc and make them utilities (which they should lol)

            • reply
              April 25, 2022 12:34 PM

              I don't think censorship is the way but getting rid of section 230 may help.

            • reply
              April 25, 2022 3:19 PM

              What do you even mean by true democracy and why is it capitalized?

    • reply
      April 25, 2022 11:03 AM

      Twitter is trash in my opinon. I don't understand why people use it. But I'm just an old boomer I guess.

      • reply
        April 25, 2022 11:25 AM

        I think it's really valuable for folks in communities where they don't know anyone locally.

        Like, think of a gay or trans person in a rural area. Tools like Twitter may be one of the major ways they connect with folks who have some similar experiences.

        I know platforms like Twitter are hugely important to the queer community, since it simply isn't safe enough in some areas to gather in visible in person groups. It helps folks connect to other people like them and share experiences.

        Without resources like Twitter, there are a lot of people that would be more isolated than they are.

        It sucks, but I can see why these platforms are important.

        • reply
          April 25, 2022 11:28 AM

          I have a friend who fits that description. And I'm not kidding when I say I lost that friend in part to twitter. She became a conspiracy theorist and I blame her prolific use of twitter for at least a portion of her falling down that hole.

        • reply
          April 25, 2022 2:47 PM

          I can think of 10 other tools that are better in that scenario besides “social media designed to let you post short snippets of plain text in a public manner”.

    • reply
      April 25, 2022 11:07 AM

      i'm sure if he gets it, it will go as well as every other libertarian experiment (not well)

    • reply
      April 25, 2022 11:11 AM

      I hope that even my worst critics remain on Twitter, because that is what free speech means

      What's the point of tweeting if you can't troll people?

      https://twitter.com/elonmusk/status/1518623997054918657

      • reply
        April 25, 2022 11:20 AM

        From the dude who tired to buy and shutdown an account that was tweeting his jet patterns from freely available open source information.

        • reply
          April 25, 2022 11:38 AM

          running an account to try to dox someone is a bit different imo. even with public information

          • reply
            April 25, 2022 11:50 AM

            Public figures should have no expectation of privacy in this regard. Wanna be a billionaire? Expect public information to become public.

          • reply
            April 25, 2022 12:15 PM

            Doxing him? No, I said posting FREELY AVAILABLE jet flight patterns.

            • reply
              April 25, 2022 12:20 PM

              Yes, and I acknowledged that by the caveat of "even with public information"

              • reply
                April 25, 2022 12:25 PM

                Well he can get rid of it now. He could've got rid of it for $50k but he only offered $5k. Now it costs him $42b.

      • reply
        April 25, 2022 12:35 PM

        unless it’s by a bot account, that’s illegal free speech

      • reply
        April 25, 2022 12:03 PM

        BUT THE POISON PILL

      • reply
        April 25, 2022 12:15 PM

        I've seen a few rumors that the Saudi's have stacked him and that's how he pulled together the financing. They already had a substantial stack in the company. Second largest to Musk, himself.

        • reply
          April 25, 2022 12:19 PM

          he filed where he got the money for the buyout, basically loans using his tesla stock as collateral.
          Musk’s documents say that $13 billion in financing came from Morgan Stanley and the other banks. As much as $12.5 billion would be loans secured by Musk’s Tesla stock, and he also committed $21 billion in direct or indirect equity, although he didn’t disclose the source of those funds. The filing says that the equity commitment could be reduced by contributions from others or additional debt taken on.
          https://apnews.com/article/business-media-social-elon-musk-1aa6c720f5a8ba834985eaa965fa4b84

          • reply
            April 25, 2022 12:24 PM

            The debt terms/interest rate can’t be great for this. It’s an insane purchase just to be a dickhead no matter how rich he is

            • reply
              April 25, 2022 12:27 PM

              in the crypto world this would take 13seconds

            • reply
              April 25, 2022 12:46 PM

              here's a good break down of his financing:
              https://www.bloomberg.com/opinion/articles/2022-04-21/elon-got-his-money

              • reply
                April 25, 2022 12:58 PM

                Thanks for sharing this link.


                So Musk will be paying his banks, personally, about $1 billion a year for the privilege of owning Twitter. It is possible that Twitter will be paying him $1 billion a year of dividends, after its own debt servicing costs, but it is, uh, unlikely in the near future. It is more likely that running Twitter will be a continuing expense for him. But, again, he has said that he’s not in it for the money. Spending $33 billion to buy Twitter, and then another $1 billion a year to own it, is I suppose in a way a kind of philanthropy for Musk?

                • reply
                  April 25, 2022 1:11 PM

                  he's also using $62.5b worth of stock as collateral for a $12.5b loan.

                  • reply
                    April 25, 2022 1:13 PM

                    Yep! Really fascinating and amazing. Rich people gonna rich.

      • reply
        April 25, 2022 12:19 PM

        $54.20 a share. Of course

      • Zek legacy 10 years legacy 20 years
        reply
        April 25, 2022 12:25 PM

        Ugh. I mostly only care about this because odds are he'll unban Trump, and judging from his attitude on "free speech", he would forbid them from doing such bans in the future. This could genuinely be the start of a 2024 Trump presidency.

        • reply
          April 25, 2022 12:26 PM

          Yes and I am sure Elon has nothing to financially gain from a Trump presidency. ;)

        • reply
          April 25, 2022 12:34 PM

          Exactly, plenty of people predicting this and it's sincerely utterly fucking depressing.

        • reply
          April 25, 2022 12:47 PM

          Or it will reignite the collective trauma of all rational Americans and be the push that the left needs to show up at the polls.

    • reply
      April 25, 2022 12:27 PM

      lmao remember when he said he would end world hunger for $6 billion if presented with a plan during an argument on Twitter and then ghosted the UN when they actually presented one to him?

      • reply
        April 25, 2022 12:29 PM

        He had some weak criticism about how they had unmet obligations or something and then yup, just disappeared

        • reply
          April 25, 2022 12:36 PM

          And people were excusing his dodge saying like “his money is tied up in assets and isn’t real” and then he just goes out and gets $45 billion lol

      • reply
        April 25, 2022 12:35 PM

        Yup. 44 billion could improve millions of lives, but no, he'd rather persist with being a troll and a cunt.

        • reply
          April 25, 2022 2:14 PM

          That’s a weird argument, you could say the same about the people that owned those twitter shares valued at 44 billion, it’s demagogic

          • reply
            April 26, 2022 1:48 AM

            I’m not calling for his head, I’m calling this a colossal waste of money when you’ve got people like Bill Gates or MacKenzie Scott putting their fortune towards improving other people’s lives.

      • reply
        April 25, 2022 12:38 PM

        [deleted]

      • reply
        April 25, 2022 1:45 PM

        If you could end word hunger with 6 billion why doesn’t the UN do it themselves?

        • reply
          April 25, 2022 2:35 PM

          Because our system is predicated on everyone running scams on one another. There’s nothing to gain from it.

          Musk isn’t a cause as much as he is a symptom/logical outcome.

    • reply
      April 25, 2022 12:29 PM

      All this because the kid wouldn't stop posting where his private jets at

      • reply
        April 25, 2022 1:31 PM

        Thanks for reminding me that Elon offered them money to stop doing it!

        • reply
          April 25, 2022 1:35 PM

          $5k lol, a pittance. The kid asked for $50k to finish college and Elon effectively hung up. Anyway the kid now works for Uberjets.

    • reply
      April 25, 2022 1:08 PM

      Oligarchs gonna oligate.

      • reply
        April 25, 2022 1:10 PM

        Oligate. New word. Verb. "When an individual manages to spend billions without making the world a better place."

    • reply
      April 25, 2022 1:13 PM

      seems like he has interesting plans for it. should at least hear him out and see how it goes for a test period. it's not like Twitter was a beacon of good to begin with.

      • reply
        April 25, 2022 1:19 PM

        Yeah maybe it was just to sue Trump since Truth looks exactly like Twitter.

      • reply
        April 25, 2022 1:20 PM

        He wanted to open the Twitter office to the homeless, so I’m not exactly hopeful that he has any good ideas.

        • reply
          April 25, 2022 1:32 PM

          what do you think of SpaceX, Tesla, Paypal, etc.? were those good ideas?

          • reply
            April 25, 2022 1:34 PM

            We can't discuss those without also discussing The Boring Tunnel and the microchips implanted in mentally ill people's heads.

            • reply
              April 25, 2022 1:38 PM

              Also the fact that two out of three of those companies were ones that he wasn’t a founder of

              • reply
                April 25, 2022 2:16 PM

                Yeah Tesla and Paypal were just more Twitter type acquisitions.

                • reply
                  April 25, 2022 2:34 PM

                  I think the motivation is different. His earlier acquisitions were more for growing a business and furthering some grand idea, like an electric car or space travel.

                  This feels it’s more about total control and to allow him and his friends to be a dick. He’s essentially buying Twitter god mode.

                  I don’t see his ownership being good for the company or the world with such motivation.

                  Maybe I’m wrong. We’ll see.

                  • reply
                    April 25, 2022 2:48 PM

                    I'm a firm believer that you can't be a billionaire without being a plague on humanity. The only way to acquire and maintain that kind of wealth is through the subjugation and exploit of other human beings. Period.

                    • reply
                      April 25, 2022 2:54 PM

                      Mackenzie Bezos may be an exception although you could argue her wealth was transferred from her ex husband

                      • reply
                        April 25, 2022 3:03 PM

                        And she is getting rid of it as fast as she can to charities.

                      • reply
                        April 25, 2022 3:04 PM

                        Concentrated wealth and the power it affords is undemocratic by definition. Individuals should not that that much sway over people or the state

          • reply
            April 25, 2022 2:11 PM

            Those are pure technical problems. The biggest problems Twitter faces are societal and cultural. Elon has a unique ability to solve engineering problems but the evidence so far is his understanding of social issues is largely the same as a 14 year old boy who just read Atlas Shrugged

            • reply
              April 25, 2022 2:21 PM

              Like just look at his suggestions:
              - “open source the algorithm to increase trust” is not going to do anything. It’s a child’s understanding of ML based systems and it misunderstands where trust comes from.
              - “Authenticate all humans”. So an anonymous political dissident in Russia using Twitter must authenticate their identity with Twitter? And then what happens when the Russian government issues Twitter a legal requirement for information on certain Twitter users who have violated local laws? This stuff isn’t thought through at all despite a high volume of academic research on content moderation challenges.

            • reply
              April 25, 2022 2:58 PM

              it's not nearly the funniest part of the list of things he intends on doing but "making the algorithms open source" and "defeating the spam bots" are goals that work against each other

              https://twitter.com/sarahjeong/status/1518666694125703168?s=20&t=THVbpG63DW-0lH-7BDbxYA

              Just on and on.

      • reply
        April 25, 2022 1:36 PM

        I'm worried about news org Twitter bans.

        • reply
          April 25, 2022 1:40 PM

          Don’t think they’ll do that, don’t really need to either

          • reply
            April 25, 2022 1:58 PM

            I could see a vindictive asshole like musk banning the NYTimes when they post some personal dirt on him

    • reply
      April 25, 2022 2:08 PM

      I really hope he likes EU fines.

    • reply
      April 25, 2022 2:17 PM

      You don't spend that kind of money to "do the right thing". He has a plan for it, and it's going to involve making him more money and power. For me, as much as I love SpaceX and Tesla, I'm off the Elon train from here on out. He has too much potential to do too much damage, can't support it anymore.

    • reply
      April 25, 2022 2:23 PM

      Orange man isn’t coming back to twitter

      https://twitter.com/mattbinder/status/1518701483277131776

      • reply
        April 25, 2022 2:25 PM

        I trust orange man. He’s never lied to us before

      • reply
        April 25, 2022 2:26 PM

        he has to say that so his venture isn't immediately called a failure, which we all know it is, but he has to keep up appearances "yeah I am all in on my social media! it's gonna be huge!" - says the guy who couldn't even run a successful CASINO

        he's literally quoted twitter as some sort of evidence, he is THRILLED to go back. he just has to find the right time and verbiage. his followers will all be reactivated on twitter and that's where he wants to be

        everything in the trump sphere is a lie, a spin, a grift, a misdirection. nothing trump ever says should be relied on, ever

      • reply
        April 25, 2022 2:40 PM

        if he was unbanned he'd be posting inside of 30 minutes

      • reply
        April 25, 2022 3:17 PM

        Bullshit.

      • reply
        April 25, 2022 3:18 PM

        Haha wow, still musing how idiot Devin Nunes gave up cushy congress job to be CEO of that titanic failure.

      • reply
        April 25, 2022 3:23 PM

        Great!

    • reply
      April 25, 2022 2:28 PM

      Still amazing Elon managed to find $43bn to spend for fun when he in fact doesn’t actually have that much wealth from stocks and couldn’t afford to pay more taxes on unrealized gains. Alas.

      • reply
        April 25, 2022 2:39 PM

        Time Magazine's Person of the Year. $43B could probably go a long way to solving world hunger or homelessness but nah, let's just buy a microblogging platform so I can shitpost memes and no one can stop me.

        • reply
          April 25, 2022 3:08 PM

          Tax him so the government does the job it’s supposed to, otherwise you could same the same about the people that just got the money on this sale

      • reply
        April 25, 2022 3:21 PM

        [deleted]

        • reply
          April 25, 2022 3:24 PM

          Sure, pick your poison. The simple reality is the critique against wealth taxes, taxing unrealized gains, etc because these guys have all their wealth tied up in illiquid stock/etc was obvious bullshit and this Twitter sale should put a final mail in the coffin of that idea.

    • reply
      April 25, 2022 2:31 PM

      I’m not leaving twitter… leave and miss this?

      https://i.imgur.com/5lFb7r3.jpg

    • reply
      April 25, 2022 2:31 PM

      made easy money selling puts on twtr

    • reply
      April 25, 2022 2:44 PM

      [deleted]

      • reply
        April 25, 2022 3:13 PM

        But it’s funny lolz don’t you get it!!!!1112

      • reply
        April 25, 2022 3:36 PM

        There will be no board, no accountability.

        Musk has said he was against the bans following Jan 6.

        He doesn’t care about ads, so ad buyers dropping doesn’t phase him.

        He wants this to be an uncontrolled “free speech” platform.

        I don’t see how this can be good news for anyone other those who think dick pics replies to school children are free speech

        He’ll probably make Twitter devs remote only and move the HQ to Texas too.

    • reply
      April 25, 2022 3:21 PM

      A barely used the platform but went and deleted all my tweets and removed all my info..

      I gave up Facebook, Insta, etc a few years ago I don't miss it, I won't miss Twitter either.

      It's a shame this could have staggering affects on the world depending on Elon's actions.

      • reply
        April 25, 2022 3:26 PM

        We’ve been at the whims of a dumb, eccentric billionaire’s decisions for basically Twitter’s entire existence. It’s not like jack was some progressive beacon.

        • reply
          April 25, 2022 3:36 PM

          I guess I'm just aware of how badly people are manipulated on these platforms and I just can't be a part of it.. cess pools.

          That's outside of the profiling and advertising shit on the backend.

        • reply
          April 25, 2022 3:37 PM

          Twitter isn’t amazing, but if banned a lot of shit you don’t see. You don’t know how bad it’ll be once it’s purely unfiltered.

          • reply
            April 25, 2022 3:51 PM

            Twitter only fairly recently began banning stuff in response to election disinformation and pandemic antivax mania (as opposed to all the antivax content they always used to allow). We spent a whole lot of years with Twitter being lead by a billionaire libertarian who fashioned himself the free speech party. This is not as much of a change as some people are imagining.

            • reply
              April 25, 2022 3:54 PM

              Dorsey banned Trump, which is more than Elon would do.

              Plus Twitter is motivated by ads, while Elon is not. Plus Twitter has a board of directors and now won’t.

              This is essentially Twitter with zero oversight or external pressure, which IS new.

              • reply
                April 25, 2022 3:59 PM

                Dorsey banned Trump only after a literal insurrection and in concert with other tech CEOs giving him cover to do so.

                If you think Elon’s plan is to ignore Twitter’s financials and just pay billions per year to finance his pet ideas then ok but I doubt it.

                Twitter’s board of directors was useless and inept. How else do we explain letting jack come back and fail at managing it a second time after their previous new CEO hire also failed to manage the company? To whatever degree there was shareholder oversight it was largely irrelevant since they continued to invest in this terribly run business that consistently posted terrible results with the same terrible management.

                Elon may very well fuck up Twitter even more and it’s bad that he can just buy something this big on a whim. But some of you are ignoring how bad Twitter has already been run by an idiot libertarian CEO who fashions himself a free speech absolutist.

                • reply
                  April 25, 2022 4:01 PM

                  Seriously they let Trump run wild for a long time before getting rid of his dumbass.

        • reply
          April 25, 2022 4:18 PM

          It can be a lot worse. We're probably about to find out how much worse.

    • reply
      April 25, 2022 4:44 PM

      This is awful. Twitter is going to go from being a toxic cesspool full of misinformation and shitty opinions, to an even bigger toxic cesspool full of misinformation and shitty opinions.

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