Merged Musk buys Twitter!/ Elon Musk puts Twitter deal on hold....

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Fast Eddie B said:
I’m not sure “worry” is the right word for me, but I get your drift.

No doubt the man is a visionary. Electric cars and soon to be trucks and semis. Large and expanding EV charging network. Reusable rocket boosters. Heavy lift rockets. Satellite based internet. Solar roofs. Home energy storage options. All those required both vision and long-term focus and dedication. I’m posting this via StarLink and fairly recently purchased a Tesla, so I’ve directly benefited from Elon’s vision. Not to mention gains in Tesla stock we hold which have been substantial to date.

But maybe “worry” is the best word. This whole Twitter deal seems like it can only divert his focus away from existing and other future pursuits with far more potential to benefit consumers, and maybe the planet. Hope it’s not a train wreck.

Note: I peruse Twitter constantly during the day, mainly as a news feed. I’d hate to see it go away, or but I’m sure I could find a replacement if things went downhill on the service.
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Musk is a unstable genius; brilliant idea one day, batcrap crazy idea the next.
He is a lot like his hero Tesla in that regard.
I think the whole question is how long until Muck gets bored with new toy and decides to just forget it.
Musk also shows why it is bad for a CEO to become too fond of publcity, and gives in to an urge to get his name in the papers every day.
 
dudalb said:
The difference is that stockholders in a privately held company have no voting righs and no voice in managment the way they do in a Publically held company.
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? I have no idea where you received that information.

Provisions in a private corporation’s charter and its bylaws govern shareholders’ rights, including the right to vote on corporate matters.

https://www.investopedia.com/terms/v/votingright.asp

Shareholders, may or may not have voting rights.

You are also wrong about shares in publicly held corps always conveying voting rights.

Facebook does trickery so Zuckerberg retains control even though he doesn't have a majority of shares.
https://www.morningstar.com/articles/1061237/how-facebook-silences-its-investors

Also, why do you think "Alphabet" ie Google, has two tickers? One has voting rights the other doesn't.
 
8 bucks per month for twitter????
No way. I can get a much better deal,,and a lot more fun..by subscriging to another streamng service for that money.
 
dudalb said:
The difference is that stockholders in a privately held company have no voting righs and no voice in managment the way they do in a Publically held company.
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What do you mean? Shareholders do have voting rights in private companies depending on what kind of stock they have.

Are you confused because frequently private companies have one majority shareholder?
 
Evidently, the new blue-check will mean only that an account is a subscriber; actual identity verification is being phased out completely.

Also there will be some amount of time between the rollout of subscription blue-checks on Friday and the as yet undecided day that non-paying, currently-verified users will be divested of their blue-check. During the interim, there will not be any way for users to distinguish between "just subscriber" blue-checks and identify-verified blue-checks.

Most, possibly all, of the features Musk tweeted that subscribers will get for subscribing will not roll out when the subscription itself goes live, meaning that anyone who subscribes on Friday and for an indeterminate amount of time thereafter will be paying literally for a blue-check symbol and nothing else as of now.
 
Elon Musk will begin mass layoffs at Twitter on Friday, sharply reducing the social media platform’s workforce, the company said in an email to staff on Thursday.

“In an effort to place Twitter on a healthy path, we will go through the difficult process of reducing our global workforce on Friday,” said the email, seen by Reuters. The New York Times and Washington Post both reported on the layoffs and cited the internal email.

The layoffs come as Musk was speculated to cut as much as 50% of Twitter’s workforce, just days after becoming the head of the company he purchased for $44bn. That could mean thousands of jobs lost, as the company had more than 7,000 employees at the end of 2021 according to a regulatory filing.
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Link
 
The email added that “to help ensure the safety” of employees and Twitter’s systems, the company’s offices “will be temporarily closed and all badge access will be suspended.”
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lol
 
Checkmite said:
Evidently, the new blue-check will mean only that an account is a subscriber; actual identity verification is being phased out completely.

Also there will be some amount of time between the rollout of subscription blue-checks on Friday and the as yet undecided day that non-paying, currently-verified users will be divested of their blue-check. During the interim, there will not be any way for users to distinguish between "just subscriber" blue-checks and identify-verified blue-checks.

Most, possibly all, of the features Musk tweeted that subscribers will get for subscribing will not roll out when the subscription itself goes live, meaning that anyone who subscribes on Friday and for an indeterminate amount of time thereafter will be paying literally for a blue-check symbol and nothing else as of now.
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Looks like my third option (the worst one) is the winner.
Me said:
3. No standards at all. Now "verified" is just a synonym for "I paid 8 dollars." The original purpose for the check is dead and now anybody can spoof anybody.
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I like the way Arieh Kovler put it
Ohhh. This is bad. The new Twitter blue badge won't actually verify your identity at all. You just pay the money and they give you the tick. It's a scammers' charter.
Want to call yourself Citibank Password Verification? Here's your blue tick, thanks for the $8. Want to say you're the Democratic Party of Wisconsin and announce you're abolishing the police? $8. Call yourself WXBM Local News Arkansas and invent a school shooting? Yours for $8
Trump is banned? No problem, you can be Trump for 8 dollars, verified by Twitter. Or you can be Barron Trump and "expose the dark truth about your parents". Whatever. Go mad.
Oh and they want to launch this the day before the US MidTerms. Sure. Can't see any issue there.
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This all sounds like business genius stuff to me. After all, that's how one runs good business, right? Maximum disruption, conflicting public stories, wild annoucements, public spats with elected officials, and sudden mass firings?
 
TragicMonkey said:
This all sounds like business genius stuff to me. After all, that's how one runs good business, right? Maximum disruption, conflicting public stories, wild annoucements, public spats with elected officials, and sudden mass firings?
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I'm not sure that's anything other than a publicity stunt to drum up interest in Twitter. Which may be worth doing regardless of what plans you already have. If nothing else, it's basically free market research. Now, does he have plans already? Don't know. But I do know that him firing people isn't a reliable sign of anything.
 
Looks like a class action lawsuit is already under way:

Musk’s plans to cut up to 3,700 staff may hit a roadblock, however, after a lawsuit was filed in the US federal court in San Francisco seeking orders for Twitter to comply with the federal Worker Adjustment and Retraining Notification Act, which requires 60 days’ notice for mass sackings at large employers.

The lawsuit, brought on behalf of five Twitter employees so far, says one was fired on 1 November, while three were not informed at the time of filing but had been locked out of their email accounts.

The case cited a similar situation with sackings at Musk’s other company, Tesla, where the company sought to obtain full release from its obligations under the Warn Act by offering severance of one or two weeks’ pay instead
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Guardian Link

I hope he loses even more money and this whole thing ends up taking him for a multi-year ride that just continuously drains him of money.
 
The Opening Arguments Podcast is estimating that Musk lost ~$100 billion in personal wealth and worth of his Tesla stock, raising the share of the money to buy Twitter that the Saudis wouldn't pay for.

Tesla stockholders might be the next to sue him.
 
The Don said:
According to the BBC, around 50% of Twitter staff have lost access to their work accounts

https://www.bbc.co.uk/news/live/bus...64db0cf15ea55905e40bdc&pinned_post_type=share

Whether this means that they're all going to be sacked or that they're just "at risk" isn't clear.

Whatever happens will likely have a significant impact on morale and anyone who is any good will likely be looking elsewhere.
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One can only imagine the number of petty dead man's switches and other time bombs are being left behind in Twitter's IT infrastructure and code base.
 
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