Elon Musk buys a big chunk of Twitter
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https://www.seattletimes.com/business/a-day-after-musk-moves-on-twitter-tesla-loses-126-billion/
Tesla wiped roughly $126 billion off its valuation Tuesday as the stock fell 12% on investors’ concern that Elon Musk may sell shares to complete his $44 billion takeover of Twitter.
The electric-vehicle maker’s market capitalization is now down more than $275 billion since April 4, when Musk disclosed that he increased his Twitter stake. That’s a drop of roughly 23%. The dollar value of Musk’s 17% stake in Tesla has shrunk by more than $40 billion, almost double the equity portion he pledged in the Twitter transaction.
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It must be nice to have so much money that you can lose or make billions simply by trolling.
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@Axtremus said in Elon Musk buys a big chunk of Twitter:
Still challenging to identify professional propaganda accounts that disguise themselves as casual users.
I'm not at all in the tech field, but that seems like a rather simple thing to solve for as a general condition. It needn't be perfect to be very good.
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@Ivorythumper said in Elon Musk buys a big chunk of Twitter:
I'm not at all in the tech field, but that seems like a rather simple thing to solve for as a general condition. It needn't be perfect to be very good.
Cat and mouse game. You try to up your game at piercing through their disguise, they try to up their game at improving their disguise.
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Always remember, Operation Valkyrie was an act of sedition.
Warning: I post things that interest me. Read and comment at your own discretion. -
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@Jolly said in Elon Musk buys a big chunk of Twitter:
Biometrics.
Is it time for the government to roll out a digital ID for all it's citizens? (Replacing the primacy of driver's licenses, SSN, passport, etc.)
Everyone gets one - the government foots the Bill to maintain and secure it and allows other entities to verify it.
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I trust Elon Musk about as much as I trust the government.
At least I can opt out of Twatter
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@George-K said in Elon Musk buys a big chunk of Twitter:
@xenon said in Elon Musk buys a big chunk of Twitter:
the government foots the Bill
You misspelled citizens.
Some citizens.... I'm trying to think through the pushback to ID laws, which is that they're not "equitable". (The citizens for whom they're not "equitable" would not be paying)
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@Axtremus said in Elon Musk buys a big chunk of Twitter:
@Jolly said in Elon Musk buys a big chunk of Twitter:
Biometrics.
Oh, sure, now that Elon has bought one Internet company, you want all the the Internet companies to have everyone’s biometric data.
I use biometrics to unlock my phone. I use it to log into my online banking. Why not your Twitter account?
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@jon-nyc said in Elon Musk buys a big chunk of Twitter:
Pass the popcorn, George.
Elon Musk Says Twitter Deal Is on Hold,
“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Mr. Musk said in a tweet early Friday. He linked to a May 2 Reuters report about a recent Twitter securities filing with those statistics.
Twitter shares were down nearly 20% in premarket trade. Mr. Musk disclosed a 9% stake in the social-networking website last month and sought to buy the remainder of the company at a price of $54.20 a share. He said he had lined up $46.5 billion of funding for the transaction.
Mr. Musk plans to bring a commitment to a more hands-off approach on speech moderation to a company that has struggled to reconcile freewheeling conversations with content that appeals to advertisers.
Some investors saw the pause in the acquisition as a potential sign that the deal may not go ahead.
“I think he’s potentially seeding the ground for pulling out of the deal. That’s certainly the market’s interpretation,” said Michael Hewson, chief markets analyst at CMC Markets. “But we’ll have to wait and see, it’s a bit strange to go through all that legwork and pull funding together and then suddenly put it on hold. It is a rather strange development.”
The move comes a day after Twitter said it was pausing hiring and looking to cut costs as it grapples with disruptions in the digital advertising market from global economic turmoil and the war in Ukraine. Across the tech industry, companies are cutting staff and spending or slowing hiring.
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