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

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Here's a story in The Verge about the saga:

Extremely Hardcore

In April 2022, Elon Musk acquired a 9.2 *percent stake in Twitter, making him the company’s largest shareholder, and was offered a seat on the board. Luke Simon, a senior engineering director at Twitter, was ecstatic. “Elon Musk is a brilliant engineer and scientist, and he has a track record of having a Midas touch, when it comes to growing the companies he’s helped lead,” he wrote in Slack.
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catsmate said:
Or trigger panic selling and a price crash.
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That would be more or less the same thing. From what I have read, a fair valuation for the stock is around $25 per share. Currently trading at $124 per share.
 
The “Efficient Market Hypothesis” would have the stock “fairly valued” at $124 a share.

Over valued or under valued only make sense from a historical perspective. I could go into more detail and why I hold to the hypothesis but Google is your friend.
 
Fast Eddie B said:
The “Efficient Market Hypothesis” would have the stock “fairly valued” at $124 a share.

Over valued or under valued only make sense from a historical perspective. I could go into more detail and why I hold to the hypothesis but Google is your friend.
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"Fair value" is just whatever whomever is analyzing believes the stock is worth. If you think a stock is trading below fair value, its a buy.

Tesla is trading around 10x its book value, but for a growth stock thats not really outrageous.

ETA: if you believe the market is perfectly efficient there is of course no reason to pick stocks. Just buy an index fund.
 
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The Great Zaganza said:
The Tower is for Noblemen.
Commoners like Musk get thrown into Fleet Prison and hanged at Tyburn.
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Unless he lends Charles large sums of money? Assuming he still has large amounts left?

If he were able to do that, then instead of being drawn and quartered in public, he might instead be able to have Chrales sign a Muska Carta with him, that lets him have a say on whether Harry and Meghan should be allowed to attend Charles's coronation*.


* Because that's the kind of momentous decisions the Royal Family is responsible for taking these days, instead of deciding on whether to wage wars or raise taxes and such other boring things they'd needed to deal with in times past.
 
Neo-Nazi Nick Fuentes has been let back on Twitter. Notably, he is one of the main influences behind Kanye's recent anti-semitic turn, and caused a little bit of a scandal when he showed up for a meal with Trump at Mar-A-Lago.
 
Just musing on how that one billion dollar back-out fee seems like it would have been a good deal for Musk.

It seemed so ludicrous at the time. But this deal has really not been good for his companies, his image, or his net wealth.
 
So much for "free speech":
“Self-proclaimed free-speech absolutists like Elon Musk must walk the talk. By withholding Twitter posts on [the] BBC documentary, Musk has made clear that for him, profits matter more than human rights,” Rasheed Ahmed, executive director of the Indian American Muslim Council, an advocacy organization, said in a statement Wednesday.
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Can't imagine why anyone would want to carry on working in that cesspit any more, any more than they absolutely have to. (And maybe that's exactly what everyone's doing, interviewing away, and just somehow enduring that place through gritted teeth until the time they're in a position to quit.)
 
Chanakya said:
Can't imagine why anyone would want to carry on working in that cesspit any more, any more than they absolutely have to. (And maybe that's exactly what everyone's doing, interviewing away, and just somehow enduring that place through gritted teeth until the time they're in a position to quit.)
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If you read the article I linked, you'll see that it is exactly what they re doing, at least, according to the employees they interviewed.
 
Chanakya said:
Can't imagine why anyone would want to carry on working in that cesspit any more, any more than they absolutely have to. (And maybe that's exactly what everyone's doing, interviewing away, and just somehow enduring that place through gritted teeth until the time they're in a position to quit.)
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There are a number of people who are infatuated with Musk and what, to them, he represents. He has cultivated and encouraged an image of himself as the one person who will single-handedly bring humankind into the Star-Trekky sci-fi future that so many people wish they could live in, and his devotees believe in this image so strongly that they are earnestly willing to eschew things like standard worker protections and fair wages and work in essentially a sweatshop where they can be fired on a whim, purely for the opportunity to be able to say they work at one of Musk's companies and got close enough during a meeting once to see his actual face in person.

You may think I'm joking or at least exaggerating, but I am absolutely not.
 
Checkmite said:
There are a number of people who are infatuated with Musk and what, to them, he represents. He has cultivated and encouraged an image of himself as the one person who will single-handedly bring humankind into the Star-Trekky sci-fi future that so many people wish they could live in, and his devotees believe in this image so strongly that they are earnestly willing to eschew things like standard worker protections and fair wages and work in essentially a sweatshop where they can be fired on a whim, purely for the opportunity to be able to say they work at one of Musk's companies and got close enough during a meeting once to see his actual face in person.

You may think I'm joking or at least exaggerating, but I am absolutely not.
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I doubt if there are any Twitter employees with that view anymore. There are probably two kinds of employee at Twitter right now: those on H1B visas who will get kicked out of the USA if they lose their job and those who are not financially secure enough to resign without having a replacement source of income.

If tis had not happened at a time when Meta and Google were also shedding jobs, I don't think anybody would be working at Twitter anymore except Elon Musk.
 
And which should not be a shock to anyone, given Musk's pro-republican leanings...

From: Variety
Elon Musk had a prime seat at State Farm Stadium for Super Bowl LVII. Fox Sports cameras captured the maverick billionaire sitting with Fox Corp. and News Corp. chief Rupert Murdoch...
 
Segnosaur said:
And which should not be a shock to anyone, given Musk's pro-republican leanings...

From: Variety
Elon Musk had a prime seat at State Farm Stadium for Super Bowl LVII. Fox Sports cameras captured the maverick billionaire sitting with Fox Corp. and News Corp. chief Rupert Murdoch...
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That's exactly where he belongs.
 
jeremyp said:
The latest

https://www.platformer.news/p/yes-elon-musk-created-a-special-system

Elon Musk's tweet about a minor sporting event (except in the USA) got less engagement than Joe Biden's tweet on the same subject. This was treated as an emergency (fix it or be fired) and now Elon's tweets are deemed the most important by the algorithm.
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Right. I remember having come across reports someplace --- don't remember where, nor do I have links handy! --- that guy saw his "engagement" falling; so he calls a meeting, demanding to know why his tweets weren't getting as many views and responses and forwards; so then this tech guy tells him the plain truth, that that's probably because people have begun tiring of his antics, that the level of interest in his blathering was falling; and boom, tech guy gets fired on the spot. And then, a few days after, no doubt with more unquestioningly pliable slavey types working their asses of adjusting the gears of the algo machinery, all kinds of twitter users start getting Musk the Great's tweets flooding their feed, even despite not having subscribed to his feed at all. Many tweeted about it in disgust; and some actually quit the platform as a result, clearly tweeting that that was the last straw for them, and the express reason why they were leaving.

How utterly utterly cringe. And what a complete ******-up *******.
 
The main reason I dropped off twitter was this. I didn't follow Musk, but didn't block all of his tweets because I was interested in the train wreck and wanted to see when people I did follow engaged with one of his tweets. Sort of a filtering.

Then they started putting Musk's tweets in my feed as texts by people who I follow themselves follow and more and more it was random Musk tweets. Which got tired fast.

I'm guessing it was a result of this...
 
Chanakya said:
Right. I remember having come across reports someplace --- don't remember where, nor do I have links handy! --- that guy saw his "engagement" falling; so he calls a meeting, demanding to know why his tweets weren't getting as many views and responses and forwards; so then this tech guy tells him the plain truth, that that's probably because people have begun tiring of his antics, that the level of interest in his blathering was falling; and boom, tech guy gets fired on the spot.
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It was in the Verge story I linked from post 2340


And then, a few days after, no doubt with more unquestioningly pliable slavey types working their asses of adjusting the gears of the algo machinery, all kinds of twitter users start getting Musk the Great's tweets flooding their feed, even despite not having subscribed to his feed at all. Many tweeted about it in disgust; and some actually quit the platform as a result, clearly tweeting that that was the last straw for them, and the express reason why they were leaving.

How utterly utterly cringe. And what a complete ******-up *******.
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That's the one I just linked.
 
jeremyp said:
It was in the Verge story I linked from post 2340




That's the one I just linked.
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Oh, I guess it was right here that I came across that thing, then! Must've read it in passing, while multitasking, and with half a mind, or less; and then it slipped my mind or simething, where I saw it. My bad!
 
Chanakya said:
Oh, I guess it was right here that I came across that thing, then! Must've read it in passing, while multitasking, and with half a mind, or less; and then it slipped my mind or simething, where I saw it. My bad!
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That might partly be my fault. I was drawn to the story because of the firing thing, but I chose to focus on the morale issue in my summary because, I think it's more important in the medium term.
 
Interesting approach to dealing with bots and inauthentic accounts: Only allowing 2 factor authentication for paid subscribers.

Presumably Musk doesn't believe that advertisers want eyeballs.
 
jimbob said:
Interesting approach to dealing with bots and inauthentic accounts: Only allowing 2 factor authentication for paid subscribers.
Presumably Musk doesn't believe that advertisers want eyeballs.
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That bit is not quite right. Twitter will stop allowing text two-factor authentication. You can still set up two-factor authentication by app.

I think some people are either claiming that idiot Elon has run it so far into the ground that Twitter cannot afford SMS anymore....

OR...

...(presumably) fans will say that business genius Elon is both A) saving money kerching! and B) creating outrage engagement!!!1!

I also noticed that it became impossible to like tweets or reply to them recently. Probably some weird stroke of genius by Elon.
 
angrysoba said:
That bit is not quite right. Twitter will stop allowing text two-factor authentication. You can still set up two-factor authentication by app.

I think some people are either claiming that idiot Elon has run it so far into the ground that Twitter cannot afford SMS anymore....

OR...

...(presumably) fans will say that business genius Elon is both A) saving money kerching! and B) creating outrage engagement!!!1!

I also noticed that it became impossible to like tweets or reply to them recently. Probably some weird stroke of genius by Elon.
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Did you see if you could still like Musk’s tweets?
 
jimbob said:
Interesting approach to dealing with bots and inauthentic accounts: Only allowing 2 factor authentication for paid subscribers.

Presumably Musk doesn't believe that advertisers want eyeballs.
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Musk lacks the real-world knowledge and comprehension to understand. Again.
 
angrysoba said:
That bit is not quite right. Twitter will stop allowing text two-factor authentication.
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Or that's the intent at least.

In practice? I click the "turn off" button and get a notice that something went wrong and to try again later.

Not joking.

Brilliant.
 
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