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  3. Elon Musk buys a big chunk of Twitter

Elon Musk buys a big chunk of Twitter

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  • jon-nycJ Online
    jon-nycJ Online
    jon-nyc
    wrote on last edited by jon-nyc
    #72

    The American version was something like WaPo readers think they run the country, NYT think they should, WSJ actually run it and NY Post readers just hope they get a seat on the subway in the morning.

    That joke is old, from when the Grahams ran WaPo and before Murdoch bought the journal and took it down market.

    You were warned.

    Doctor PhibesD 1 Reply Last reply
    • jon-nycJ jon-nyc

      The American version was something like WaPo readers think they run the country, NYT think they should, WSJ actually run it and NY Post readers just hope they get a seat on the subway in the morning.

      That joke is old, from when the Grahams ran WaPo and before Murdoch bought the journal and took it down market.

      Doctor PhibesD Offline
      Doctor PhibesD Offline
      Doctor Phibes
      wrote on last edited by
      #73

      @jon-nyc said in Elon Musk buys a big chunk of Twitter:

      The American version was something like WaPo readers think they run the country, NYT think they should, WSJ actually run it and NY Post readers just hope they get a seat on the subway in the morning.

      That joke is old, from when the Grahams ran WaPo and before Murdoch bought the journal and took it down market.

      It's from the comedy show Yes, Minister, which aired in the 1980's. One of the best satirical shows ever done.

      I was only joking

      1 Reply Last reply
      • George KG Offline
        George KG Offline
        George K
        wrote on last edited by
        #74

        Screen-Shot-2022-04-07-at-7.44.26-AM.png.jpg

        "Now look here, you Baltic gas passer... " - Mik, 6/14/08

        The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

        1 Reply Last reply
        • George KG Offline
          George KG Offline
          George K
          wrote on last edited by
          #75

          image029.png.jpg

          "Now look here, you Baltic gas passer... " - Mik, 6/14/08

          The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

          1 Reply Last reply
          • KlausK Online
            KlausK Online
            Klaus
            wrote on last edited by
            #76

            You've got to love Elon: First buying 10% and becoming a director of Twitter, then asking publicly whether Twitter is dying 🙂

            Aqua LetiferA 1 Reply Last reply
            • KlausK Klaus

              You've got to love Elon: First buying 10% and becoming a director of Twitter, then asking publicly whether Twitter is dying 🙂

              Aqua LetiferA Offline
              Aqua LetiferA Offline
              Aqua Letifer
              wrote on last edited by
              #77

              @Klaus said in Elon Musk buys a big chunk of Twitter:

              You've got to love Elon: First buying 10% and becoming a director of Twitter, then asking publicly whether Twitter is dying 🙂

              Twitter higher-ups must be shitting themselves.

              Please love yourself.

              1 Reply Last reply
              • JollyJ Offline
                JollyJ Offline
                Jolly
                wrote on last edited by
                #78

                He's got something up his sleeve. Wonder what it is?

                “Cry havoc and let slip the DOGE of war!”

                Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                1 Reply Last reply
                • George KG Offline
                  George KG Offline
                  George K
                  wrote on last edited by
                  #79

                  LOL

                  "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                  The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                  1 Reply Last reply
                  • HoraceH Offline
                    HoraceH Offline
                    Horace
                    wrote on last edited by
                    #80

                    Yes I commented a few days ago in response to some tweet jon posted that the phrase “free speech” has become marginalized to tribal leftists. It’s long been clear that some of us appreciate free speech more than others, and that appreciation, or lack thereof, predicts political leaning.

                    Education is extremely important.

                    1 Reply Last reply
                    • George KG Offline
                      George KG Offline
                      George K
                      wrote on last edited by
                      #81

                      The article in the tweet, with comments from the RWEC:

                      https://www.washingtonpost.com/outlook/2022/04/08/musk-twitter-equity-discrimination-speech/

                      As the company’s largest shareholder, Musk will no doubt have outsize influence — and his clout will be magnified by the board seat. He can bend the company toward his preferences, removing reasonable policies on hateful speech and urging people who are harassed to have thicker skins. And he has a stick that he can use to further change Twitter: The implicit threat that he will buy a controlling stake in the company, and impose his will that way. (For now, he has pledged not to own more than 14.9 percent of the company, but he could change his mind and give up his board seat.)

                      Musk’s appointment to Twitter’s board shows that we need regulation of social-media platforms to prevent rich people from controlling our channels of communication.

                      "In the first place, does Pao know who owns the Washington Post? None other than Jeff Bezos, the founder of Amazon and now a multilateral uber-billionaire competing in the private-sector space race … against Musk. Oddly enough, Pao never mentions Bezos and his ownership of the “democracy dies in darkness” Post, even though Bezos’ net worth is now estimated around $180 billion. That’s not as much as Musk’s estimated net worth of $300 billion, but in practical terms, what’s the difference? Carlos Slim isn’t quite up to that level, having a personal net worth estimated at only $70.4 billion, but his ownership of 17.4% of the New York Times’ Class A shares makes Musk’s 9.2% of Twitter look paltry in comparison.

                      "For that matter, Michael Bloomberg still owns a controlling interest in Bloomberg LP and its news and stock-ticker empires, but he founded the company rather than buying into it. That, clearly, has not made him any less of a “rich person” that is “controlling our channels of communication.” Did Pao raise this issue in 2020, when Bloomberg attempted to buy his way to the Democratic Party presidential nomination?

                      Billionaire ownership of the Washington Post, NYT, Bloomberg, and their control of reportorial functions matters a whole lot more than social-media platforms to democracy. However, if we want to focus on social media platforms and other forms of communication, who owned and controlled Twitter and Facebook before last month? Billionaires like Jack Dorsey ($7.4 billion net worth), Mark Zuckerberg ($79.4 billion), and their associates. The same is true with internet providers, Hollywood studios, cell-phone manufacturers and service companies, and on and on and on. Corporate boards are comprised of the heaviest investors and/or their allies; very few if any people of modest means sit on them.

                      Rich people have been controlling “our channels of communication” all along. Pao’s unhappy because the wrong “rich person” bought into the club.

                      "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                      The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                      jon-nycJ 1 Reply Last reply
                      • AxtremusA Offline
                        AxtremusA Offline
                        Axtremus
                        wrote on last edited by
                        #82

                        Musk declined to join Twitter’s Board of Directors.

                        1 Reply Last reply
                        • jon-nycJ Online
                          jon-nycJ Online
                          jon-nyc
                          wrote on last edited by jon-nyc
                          #83

                          It would be interesting to know what’s behind this.

                          Keep in mind the board seat came with him signing a “stand still agreement” limiting him to 14.9% of the stock. Thus no hostile takeover was possible.

                          Without that agreement, Twitter has that possibility hanging over its head. It could give Musk even more influence.

                          You were warned.

                          KlausK 1 Reply Last reply
                          • George KG George K

                            The article in the tweet, with comments from the RWEC:

                            https://www.washingtonpost.com/outlook/2022/04/08/musk-twitter-equity-discrimination-speech/

                            As the company’s largest shareholder, Musk will no doubt have outsize influence — and his clout will be magnified by the board seat. He can bend the company toward his preferences, removing reasonable policies on hateful speech and urging people who are harassed to have thicker skins. And he has a stick that he can use to further change Twitter: The implicit threat that he will buy a controlling stake in the company, and impose his will that way. (For now, he has pledged not to own more than 14.9 percent of the company, but he could change his mind and give up his board seat.)

                            Musk’s appointment to Twitter’s board shows that we need regulation of social-media platforms to prevent rich people from controlling our channels of communication.

                            "In the first place, does Pao know who owns the Washington Post? None other than Jeff Bezos, the founder of Amazon and now a multilateral uber-billionaire competing in the private-sector space race … against Musk. Oddly enough, Pao never mentions Bezos and his ownership of the “democracy dies in darkness” Post, even though Bezos’ net worth is now estimated around $180 billion. That’s not as much as Musk’s estimated net worth of $300 billion, but in practical terms, what’s the difference? Carlos Slim isn’t quite up to that level, having a personal net worth estimated at only $70.4 billion, but his ownership of 17.4% of the New York Times’ Class A shares makes Musk’s 9.2% of Twitter look paltry in comparison.

                            "For that matter, Michael Bloomberg still owns a controlling interest in Bloomberg LP and its news and stock-ticker empires, but he founded the company rather than buying into it. That, clearly, has not made him any less of a “rich person” that is “controlling our channels of communication.” Did Pao raise this issue in 2020, when Bloomberg attempted to buy his way to the Democratic Party presidential nomination?

                            Billionaire ownership of the Washington Post, NYT, Bloomberg, and their control of reportorial functions matters a whole lot more than social-media platforms to democracy. However, if we want to focus on social media platforms and other forms of communication, who owned and controlled Twitter and Facebook before last month? Billionaires like Jack Dorsey ($7.4 billion net worth), Mark Zuckerberg ($79.4 billion), and their associates. The same is true with internet providers, Hollywood studios, cell-phone manufacturers and service companies, and on and on and on. Corporate boards are comprised of the heaviest investors and/or their allies; very few if any people of modest means sit on them.

                            Rich people have been controlling “our channels of communication” all along. Pao’s unhappy because the wrong “rich person” bought into the club.

                            jon-nycJ Online
                            jon-nycJ Online
                            jon-nyc
                            wrote on last edited by
                            #84

                            @George-K

                            They don’t even have to get into whattaboutism. The piece was absurd on its face. Literally all of her points fell flat and were totally unrelated to the supposed topic of Musk’s support for free speech. Basically it was “Musk bends SEC rules and a few of his many thousands of employees have done bad things, ergo he won’t give you free speech”.

                            You were warned.

                            1 Reply Last reply
                            • jon-nycJ jon-nyc

                              It would be interesting to know what’s behind this.

                              Keep in mind the board seat came with him signing a “stand still agreement” limiting him to 14.9% of the stock. Thus no hostile takeover was possible.

                              Without that agreement, Twitter has that possibility hanging over its head. It could give Musk even more influence.

                              KlausK Online
                              KlausK Online
                              Klaus
                              wrote on last edited by
                              #85

                              @jon-nyc said in Elon Musk buys a big chunk of Twitter:

                              It would be interesting to know what’s behind this.

                              Why didn't they ask Musk in private whether he wants to be on the board or not before making the offer public?

                              1 Reply Last reply
                              • jon-nycJ Online
                                jon-nycJ Online
                                jon-nyc
                                wrote on last edited by
                                #86

                                I think he wanted the seat and then changed his mind later.

                                You were warned.

                                1 Reply Last reply
                                • LuFins DadL Offline
                                  LuFins DadL Offline
                                  LuFins Dad
                                  wrote on last edited by
                                  #87

                                  I think it was all about the “code of conduct” that’s in the agreement. My guess is there was verbiage that would have limited Elon’s public behavior and posts.

                                  The Brad

                                  1 Reply Last reply
                                  • 89th8 Online
                                    89th8 Online
                                    89th
                                    wrote on last edited by
                                    #88

                                    Elon should tweet this morning, "board, more like bored amirite"

                                    1 Reply Last reply
                                    • George KG Offline
                                      George KG Offline
                                      George K
                                      wrote on last edited by
                                      #89

                                      "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                      The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                      1 Reply Last reply
                                      • KlausK Online
                                        KlausK Online
                                        Klaus
                                        wrote on last edited by
                                        #90

                                        Hmmm...

                                        1 Reply Last reply
                                        • George KG Offline
                                          George KG Offline
                                          George K
                                          wrote on last edited by
                                          #91

                                          As @jon-nyc said, being on the board limits the percentage of shares he could own. He is also obligated to act in the "best interests of the company."

                                          Now, no such restrictions.

                                          Somewhere, I read that employees are even more upset now, LOL.

                                          "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                          The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                          1 Reply Last reply
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