Elon Musk buys a big chunk of Twitter

[Axtremus]

https://www.reuters.com/markets/deals/twitter-committed-elon-musks-44-billion-deal-2022-05-17/

The narrative seems to be that Elon did no “due diligence” before signing the deal.

[George K]

Half of Joe Biden's Twitter Followers Are Fake, Audit Reveals

Almost half of President Joe Biden's current 22.2 million followers on Twitter are fake accounts, according to an audit tool provided by software company SparkToro.

SparkToro's tool found that 49.3 percent of accounts following the official @POTUS Twitter account are "fake followers" based on analysis of a number of factors, including location issues, default profile images and new users.

Tesla CEO Elon Musk, who is currently trying to buy Twitter, has expressed concerns about the number of fake accounts and a potential crack down could see users such as Biden lose a huge number of followers.

[Horace]

Roughly the same demographic that voted for him

[jon-nyc]

[Ivorythumper]

..

[Mik]

The picture gets murkier as time goes on. The purchase may not happen at all.

https://www.msn.com/en-us/news/technology/musk-sails-into-the-swamp/ar-AAXyYhx?ocid=msedgntp&cvid=a3697674475842639921902f181c5db2

[Doctor Phibes]

What does BTW mean?

I'm lost.

[Horace]

@Doctor-Phibes said in Elon Musk buys a big chunk of Twitter:

What does BTW mean?

I'm lost.

You've lost your way, gone right by you.

[taiwan_girl]

@Doctor-Phibes

@Horace speaks street. Listen to him. LOL

[Doctor Phibes]

Solid.

Actually, I think that might be 1950's hipster talk.

[George K]

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

Pass the popcorn, George.

[George K]

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

Pass the popcorn, George.

I ate the popcorn a while ago.

Now, it's gone.

Tesla (TSLA.O) Chief Executive Officer Elon Musk said on Friday he was terminating his $44 billion deal for Twitter Inc (TWTR.N), citing material breach of multiple provisions of the agreement.

Shares of Twitter fell 6% in extended trading.

The announcement brings to an end a will-he-won’t-he saga after the world’s richest person clinched a deal for Twitter in April but then put the buyout on hold until the social media company proved that spam bots accounted for less than 5% of its total users.

[Copper]

So now he has $44 billion burning a hole in his pocket.

What will he buy next?

[jon-nyc]

To be sure he snuck out of the deal because the market tanked in the months following his bid and he was overpaying. He could still come back in a few weeks or months with a lower bid.

[Horace]

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

To be sure he snuck out of the deal because the market tanked in the months following his bid and he was overpaying. He could still come back in a few weeks or months with a lower bid.

Yep. Overpaying, using a significantly reduced personal fortune.

[George K]

Twitter: "You MUST buy."

[jon-nyc]

They have a colorable argument.

[jon-nyc]

It also demonstrates how much this is really about price.

[George K]

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

They have a colorable argument.

I wondered about that. His requirement that they disclose the number of "bot" or spam accounts occurred after his agreement to buy.

That might invalidate his claim.

[Horace]

On what planet is the ability for Musk to back out of this contract before closing, not unambiguously written into the contract? Well, this planet, but how?