Cont: Musk buys Twitter II

You'd think a 'billionaire genius' would have known better than signing a contract without having it checked out by the legal boys lol...
(especially if he was trying a 'pump and dump' he had no intentions of fulfilling!!!)
:covereyes
But then he's never actually been what he claimed- like trump himself, he got a LOT of money from his family to start up his businesses- which mostly consisted of coming in and buying out already existing companies (Paypal and Tesla already existed before he came in and bought them out for example) he's a good talker but often seriously underdelivers in performance... (look at the long overdue releases of the various Tesla products- the cybertruck was released almost two years after its promised delivery date, the Tesala semi is still waaay behind on its production targets... after a three year delay on their first deliveries...)
 
His purchase dramatically changed the political landscape, and may well have won the election for Trump
"May well have". Hmmm.

Granted, his appeal to climate-change-anxious young men seems demonstrated (I think I saw an 8% sway to Trump in their demographic), but the main reason he has so much influence is that his "popularity" on Twitter is boosted by millions of bots, and gullible people are influenced into thinking he must be making good points.
 
Um- he didn't buy the 'place of twits' deliberately???

It was a over 30 BILLION dollar purchase- I notice if a $1 fee is taken from my bank account- I'm sure that even he would have noticed a 30 billion dollar 'extra he hadn't bought' lol
It's simple. He bought a load of shares. The board offered him a place on it. He initially said yes and then changed his mind and declared he would buy Twitter instead for $44 million which was considered a high price even then, so the board said yes.

After he had signed the contract, he made excuses as to why he didn't really to complete the deal. Unfortunately, the contract he had signed offered no way out. He spent months trying to get out of it but ultimately failed.

There are other clues as to why he was never serious about purchasing Twitter. In the contract he signed, he waived due diligence, which means he agreed to buy it without going over the books. or examining the business in detail in any other way. It's like buying a car without inspecting it first and it's almost unheard of in mergers and acquisitions.

Then of course, it became quickly apparent after closing the deal that he had no clue how to make Twitter sustainable. In fact the deal itself was structured in a way that made it almost impossible.

He didn't want that company.
 
For the record, since 1 November his Tesla shares have increased by 45 billion dollars in value, so the cost of X is arguably irrelevant now.
This. Despite Musk wanting to pull out of the deal once he found out what a basket case Twitter was, in the long run it's been good for him - just as I predicted. All those liberals who insisted that Trump should be banned from Twitter are reaping the reward for their attempts to cancel him. I said at the time that it was a bad idea, and I was right.

The sad part is that 'the left' actively drove Musk into the arms of 'the right'. Sad because protecting the enviroment is supposed to be one of the cornerstones of their ideology, and Musk is doing more to achieve that than practically anyone else alive. And what did he get for it? Now liberals dump on Musk at every opportunity and refuse to buy Teslas. Certainly they had some reasons not to like everything he did, but they could have engaged in a more friendly manner for mutual benefit. The sadder thing is that many of them still don't understand how much the result was their fault, and won't do anything to repair the relationship.

outside the US Tesla itself is feeling 'the love'- with consistantly falling sales figures (while other manufacturers sales are increasing)- who would a thunk that outing yourself as a far right fascist lover would hurt sales of EV's (a market favoured by the left)- maybe he thought all those 'good old texan boys' rolling coal with flags all over them would trade in their 'dino burners' for cybertrucks lol...
Those 'good old texan boys' are the market Tesla needs to crack if it is to achieve its goal of 'accelerating the world's transition to sustainable energy'. Musk becoming part of the right-wing community is helping there. 'The left' won't stop buying EVs because they hate Musk, they will just buy other brands - which is a good thing for the industry. The biggest problem right now is that legacy auto gleefully accepted incentives to make EVs and then did a piss poor job of creating them, if they seriously tried at all. Now they are pulling back and crying about cheap Chinese imports (both in the US and Europe), while Tesla dominates the domestic EV market with cars which have more US content than any of the other 'American' brands.

The sick part is that Tesla has been trying to help legacy automakers through the transition - by giving away patents, allowing access to their supercharger network, creating open standards for charging plugs and electrical connectors etc., even selling carbon credits cheaper than the fines they would otherwise have to pay. And their response? They continue promoting last century's dirty technology, with EVs being just another product that they might make a few of if it doesn't cost too much (ignoring the fact that small quantities make them cost too much).

You say Tesla has 'consistently falling sales figures' outside the US, as if this is some kind of gotcha. But it simply isn't true. In the January-October period this year Tesla sold 500,685 vehicles in China, up 8.29% from a year earlier - in a market which is saturated with Chinese EV brands. Meanwhile other foreign automakers are losing their shirts in China, with steeply falling sales and profits dropping as much as 80%. In 2020 Tesla sold 97,548 cars in Europe, rising to 170,507 in 2021 and 232,066 in 2022. In 2023 the Tesla Model Y was the best-selling car in Europe with 251,617 units sold. The Model 3 was the second-best selling car with 100,888 units sold.

As these numbers show, you are laughably wrong. I don't know where you got this idea that Tesla's sales outside the US are 'consistently falling'. Frequenting the wrong news sites? Gaslighted by short sellers? Misunderstanding the statistics? Or just blinded by bias?

The truth is, global new car sales peaked in 2018 at 85.83 million. In 2019 they dropped to 80.0 million. Of course Covid put a big dent in sales in 2020, which has still not fully recovered. In 2023 76.67 million were sold worldwide. What's more interesting is that gas powered car sales have continued to decline, down from a peak of 83.77 million in 2018 to 62.87 million in 2023. Meanwhile electric car sales increased from 2.06 million in 2018 to 13.8 million in 2023. Whether Tesla is part of that increase or not, it's still achieving its goal. The World is transitioning to EVs - despite what the news media might be telling you.

With more brands coming into the market - particularly in China - Tesla is expected to lose market share. After all they are just one company. In the long term it's better if Tesla doesn't dominate the market. Musk himself said that he would be happy if Tesla went bankrupt provided it reached its goal of kickstarting the EV industry. He's probably a bit less keen on that now, but I'm sure he still expects that one day Tesla will be just another brand among many, and be happy with it. Eventually Tesla's other products such as battery storage and AI (self-driving cars, robotics...) may provide most of their income.

The International Skeptics Forum was supposed to be a place to attract 'brights' who would use their superior intelligence, knowlege and criticial thinking skills to debunk misinformation and encourage rationality. However it doen't seem to be working. Instead it's infested with 'skeptics' who never bother to do any proper research before spouting off, forcing a few of us to spend much of our time playing whackamole with debunked talking points. If this is all the 'best and brightest' of the world are capable of, it's no wonder Trump is President of the US. Before we lol at the stupidly of others we might want to take a long hard look in the mirror...
 
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This. Despite Musk wanting to pull out of the deal once he found out what a basket case Twitter was, in the long run it's been good for him - just as I predicted. All those liberals who insisted that Trump should be banned from Twitter are reaping the reward for their attempts to cancel him. I said at the time that it was a bad idea, and I was right.

The sad part is that 'the left' actively drove Musk into the arms of 'the right'. Sad because protecting the enviroment is supposed to be one of the cornerstones of their ideology, and Musk is doing more to achieve that than practically anyone else alive. And what did he get for it? Now liberals dump on Musk at every opportunity and refuse to buy Teslas. Certainly they had some reasons not to like everything he did, but they could have engaged in a more friendly manner for mutual benefit. The sadder thing is that many of them still don't understand how much the result was their fault, and won't do anything to repair the relationship.
look what we made him do
 
Um- he didn't buy the 'place of twits' deliberately???

It was a over 30 BILLION dollar purchase- I notice if a $1 fee is taken from my bank account- I'm sure that even he would have noticed a 30 billion dollar 'extra he hadn't bought' lol

Or did he accidentally 'bum dial' its purchase when sitting down one day???

(and the 'POT' has seen a huge exodus of advertisers- many if not most who deal with anywhere except the US are wanting to distance themselves from it as much as possible)- its not a good look having your company name splashed right alongside a bunch of far right fascist, racist and sexually discriminatory posts- which is pretty much all thats left in there...

And outside the US Tesla itself is feeling 'the love'- with consistantly falling sales figures (while other manufacturers sales are increasing)- who would a thunk that outing yourself as a far right fascist lover would hurt sales of EV's (a market favoured by the left)- maybe he thought all those 'good old texan boys' rolling coal with flags all over them would trade in their 'dino burners' for cybertrucks lol...
View attachment 57694

As if trump would be caught dead in an EV lol- he hates them (along with anything else 'green') with a passion...
JeremyP and Aridas are right, Musk buying twitter was a dickmeasuring contest he had with Jack Dorsey that went hilariously wrong.

But at the same time he did want to buy the site, but he wanted to run the pice down first sl he could get it for a song.
 
JeremyP and Aridas are right, Musk buying twitter was a dickmeasuring contest he had with Jack Dorsey that went hilariously wrong.

But at the same time he did want to buy the site, but he wanted to run the pice down first sl he could get it for a song.
roger is right, though he didn't want it, he ended up leveraging it into worming his way into the inner circle of corruption of donald trump, likely to his great personal benefit. because that's the world we live in, where that kind of behavior is rewarded. where we disagree is whether or not that's something to celebrate or credit as being a genius move.
 
You'd think a 'billionaire genius' would have known better than signing a contract without having it checked out by the legal boys lol...
(especially if he was trying a 'pump and dump' he had no intentions of fulfilling!!!)
:covereyes
But then he's never actually been what he claimed- like trump himself, he got a LOT of money from his family to start up his businesses- which mostly consisted of coming in and buying out already existing companies (Paypal and Tesla already existed before he came in and bought them out for example) he's a good talker but often seriously underdelivers in performance... (look at the long overdue releases of the various Tesla products- the cybertruck was released almost two years after its promised delivery date, the Tesala semi is still waaay behind on its production targets... after a three year delay on their first deliveries...)
Musk didn't buy out Paypal. Paypap came about by a joint merger between his and Peter Thiel's predecessor companies, largely because Thiel was unnecessarily worried about competition from Musk. When Thiel saw how bad Musk's code for his online payments system was, Thiel fired his arse, despite Musk being the largest single shareholder in Paypal.

Musk's firzt billions came from Peter Thiel overestimating his ability to either code or run a business.
 
This. Despite Musk wanting to pull out of the deal once he found out what a basket case Twitter was, in the long run it's been good for him - just as I predicted. ...snip...

That is revisionist history. He did not try to pull out of the deal because he subsequently found out how bad the company was.

The sad part is that 'the left' actively drove Musk into the arms of 'the right'....snip...

Any evidence to support this?
The International Skeptics Forum was supposed to be a place to attract 'brights' who would use their superior intelligence, knowlege and criticial thinking skills to debunk misinformation and encourage rationality. ...snip...

Revisionist history telling again and chronologically impossible as well.
 
The International Skeptics Forum was supposed to be a place to attract 'brights' who would use their superior intelligence, knowlege and criticial thinking skills to debunk misinformation and encourage rationality. However it doen't seem to be working. Instead it's infested with 'skeptics' who never bother to do any proper research before spouting off, forcing a few of us to spend much of our time playing whackamole with debunked talking points. If this is all the 'best and brightest' of the world are capable of, it's no wonder Trump is President of the US. Before we lol at the stupidly of others we might want to take a long hard look in the mirror...
Yet, here we are.
 
It's simple. He bought a load of shares. The board offered him a place on it. He initially said yes and then changed his mind and declared he would buy Twitter instead for $44 million which was considered a high price even then, so the board said yes.

After he had signed the contract, he made excuses as to why he didn't really to complete the deal. Unfortunately, the contract he had signed offered no way out. He spent months trying to get out of it but ultimately failed.

There are other clues as to why he was never serious about purchasing Twitter. In the contract he signed, he waived due diligence, which means he agreed to buy it without going over the books. or examining the business in detail in any other way. It's like buying a car without inspecting it first and it's almost unheard of in mergers and acquisitions.

Then of course, it became quickly apparent after closing the deal that he had no clue how to make Twitter sustainable. In fact the deal itself was structured in a way that made it almost impossible.

He didn't want that company.
Plus the price per share he offered was a 4:20 pot reference.
 
This. Despite Musk wanting to pull out of the deal once he found out what a basket case Twitter was, in the long run it's been good for him - just as I predicted. All those liberals who insisted that Trump should be banned from Twitter are reaping the reward for their attempts to cancel him. I said at the time that it was a bad idea, and I was right.

The sad part is that 'the left' actively drove Musk into the arms of 'the right'. Sad because protecting the enviroment is supposed to be one of the cornerstones of their ideology, and Musk is doing more to achieve that than practically anyone else alive. And what did he get for it? Now liberals dump on Musk at every opportunity and refuse to buy Teslas. Certainly they had some reasons not to like everything he did, but they could have engaged in a more friendly manner for mutual benefit. The sadder thing is that many of them still don't understand how much the result was their fault, and won't do anything to repair the relationship.


Those 'good old texan boys' are the market Tesla needs to crack if it is to achieve its goal of 'accelerating the world's transition to sustainable energy'. Musk becoming part of the right-wing community is helping there. 'The left' won't stop buying EVs because they hate Musk, they will just buy other brands - which is a good thing for the industry. The biggest problem right now is that legacy auto gleefully accepted incentives to make EVs and then did a piss poor job of creating them, if they seriously tried at all. Now they are pulling back and crying about cheap Chinese imports (both in the US and Europe), while Tesla dominates the domestic EV market with cars which have more US content than any of the other 'American' brands.

The sick part is that Tesla has been trying to help legacy automakers through the transition - by giving away patents, allowing access to their supercharger network, creating open standards for charging plugs and electrical connectors etc., even selling carbon credits cheaper than the fines they would otherwise have to pay. And their response? They continue promoting last century's dirty technology, with EVs being just another product that they might make a few of if it doesn't cost too much (ignoring the fact that small quantities make them cost too much).

You say Tesla has 'consistently falling sales figures' outside the US, as if this is some kind of gotcha. But it simply isn't true. In the January-October period this year Tesla sold 500,685 vehicles in China, up 8.29% from a year earlier - in a market which is saturated with Chinese EV brands. Meanwhile other foreign automakers are losing their shirts in China, with steeply falling sales and profits dropping as much as 80%. In 2020 Tesla sold 97,548 cars in Europe, rising to 170,507 in 2021 and 232,066 in 2022. In 2023 the Tesla Model Y was the best-selling car in Europe with 251,617 units sold. The Model 3 was the second-best selling car with 100,888 units sold.

As these numbers show, you are laughably wrong. I don't know where you got this idea that Tesla's sales outside the US are 'consistently falling'. Frequenting the wrong news sites? Gaslighted by short sellers? Misunderstanding the statistics? Or just blinded by bias?

The truth is, global new car sales peaked in 2018 at 85.83 million. In 2019 they dropped to 80.0 million. Of course Covid put a big dent in sales in 2020, which has still not fully recovered. In 2023 76.67 million were sold worldwide. What's more interesting is that gas powered car sales have continued to decline, down from a peak of 83.77 million in 2018 to 62.87 million in 2023. Meanwhile electric car sales increased from 2.06 million in 2018 to 13.8 million in 2023. Whether Tesla is part of that increase or not, it's still achieving its goal. The World is transitioning to EVs - despite what the news media might be telling you.

With more brands coming into the market - particularly in China - Tesla is expected to lose market share. After all they are just one company. In the long term it's better if Tesla doesn't dominate the market. Musk himself said that he would be happy if Tesla went bankrupt provided it reached its goal of kickstarting the EV industry. He's probably a bit less keen on that now, but I'm sure he still expects that one day Tesla will be just another brand among many, and be happy with it. Eventually Tesla's other products such as battery storage and AI (self-driving cars, robotics...) may provide most of their income.

The International Skeptics Forum was supposed to be a place to attract 'brights' who would use their superior intelligence, knowlege and criticial thinking skills to debunk misinformation and encourage rationality. However it doen't seem to be working. Instead it's infested with 'skeptics' who never bother to do any proper research before spouting off, forcing a few of us to spend much of our time playing whackamole with debunked talking points. If this is all the 'best and brightest' of the world are capable of, it's no wonder Trump is President of the US. Before we lol at the stupidly of others we might want to take a long hard look in the mirror...
Every single idea in that post is wrong. You're letting your fanboyism get in the way of your critical thinking.
 
roger is right, though he didn't want it, he ended up leveraging it into worming his way into the inner circle of corruption of donald trump, likely to his great personal benefit. because that's the world we live in, where that kind of behavior is rewarded. where we disagree is whether or not that's something to celebrate or credit as being a genius move.
Oh Galaxy Brain wanted twitter all right, but his problem was that he didn't have the first clue about how to run down the company prior to buying it.

You see he alighted on twitter as the way to make his everything app fantasy, X, happen a few years before he started investing in it and worked tobuy out the company after that. His problems were a) he'd too much invested in stocks by the time he made a bid to lowball, b) his ego got in the way of what sense he has so he had to go in swinging his bit of wavin with an unrealistic bid and c) he relegated his attempt to lower the share price (the original idwa behind his "Twitter is full of bots" rants) until after starting the buyout attempt.
 
It's also going to be the number one news site and the number oe video streaming site.

Meanwhile over the last couple of weeks a lot of people have left and moved to Bluesky.
 
he'd probably get in trouble for calling his site a news site and not conforming to whatever rules apply to journalistic entities. in a world where things mattered.
 

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