Elon Musk buys a big chunk of Twitter
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Hey guys, "You're fired."
Elon Musk completed his takeover of Twitter Inc. TWTR 0.66%increase; green up pointing triangle Thursday, according to people familiar with the matter, capping an unusual corporate takeover battle and setting up one of the world’s most influential social-media platforms for potentially sweeping change.
Mr. Musk fired Chief Executive Parag Agrawal and Chief Financial Officer Ned Segal after the deal closed, the people said. Spokespeople for Twitter didn’t comment.
It wasn’t immediately clear who would step into those top positions. CNBC previously reported the firings.
Mr. Musk completed the deal a day before a court-imposed deadline to complete his $44 billion acquisition of Twitter or face the prospect of a Delaware trial over the deal’s future.
There were signs this week indicating that Mr. Musk was moving closer to acquiring the social-media platform by Friday’s 5 p.m. deadline. Banks started sending money backing the deal, The Wall Street Journal reported. Mr. Musk also has changed his Twitter bio to “Chief Twit,” showed himself walking into the San Francisco headquarters of the social-media platform, and issued a statement on Twitter explaining his vision for the site to advertisers.
Closing the deal ends a monthslong saga of whether Mr. Musk would or wouldn’t purchase the company. The deal also would put one of the world’s most prominent social-media platforms under the control of the world’s richest person, with implications for the future of online discourse.
I'm guessing Kanye for CEO.
"I disapprove of what you say, but I will defend to the death your right to say it!".
Well, until they lose all their advertisers, at least.
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Hey guys, "You're fired."
Elon Musk completed his takeover of Twitter Inc. TWTR 0.66%increase; green up pointing triangle Thursday, according to people familiar with the matter, capping an unusual corporate takeover battle and setting up one of the world’s most influential social-media platforms for potentially sweeping change.
Mr. Musk fired Chief Executive Parag Agrawal and Chief Financial Officer Ned Segal after the deal closed, the people said. Spokespeople for Twitter didn’t comment.
It wasn’t immediately clear who would step into those top positions. CNBC previously reported the firings.
Mr. Musk completed the deal a day before a court-imposed deadline to complete his $44 billion acquisition of Twitter or face the prospect of a Delaware trial over the deal’s future.
There were signs this week indicating that Mr. Musk was moving closer to acquiring the social-media platform by Friday’s 5 p.m. deadline. Banks started sending money backing the deal, The Wall Street Journal reported. Mr. Musk also has changed his Twitter bio to “Chief Twit,” showed himself walking into the San Francisco headquarters of the social-media platform, and issued a statement on Twitter explaining his vision for the site to advertisers.
Closing the deal ends a monthslong saga of whether Mr. Musk would or wouldn’t purchase the company. The deal also would put one of the world’s most prominent social-media platforms under the control of the world’s richest person, with implications for the future of online discourse.
@George-K said in Elon Musk buys a big chunk of Twitter:
Mr. Musk fired Chief Executive Parag Agrawal and Chief Financial Officer Ned Segal after the deal closed, the people said.
And those guys will walk away with millions of USD$ since (I assume) they were let go "without cause". Plus, they don't have to end up working for Mr. Musk. Win-win for them!
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Without cause?
Musk owns the company. He can fire or hire who he chooses...
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@Jolly said in Elon Musk buys a big chunk of Twitter:
Without cause?
Musk owns the company. He can fire or hire who he chooses...
Sorry - it wasn't very clear what I was trying to say. I was trying to say that a lot of executive contracts have a "golden parachute". If you are let for "for cause", you don't get the parachute. However, if you were let go "without cause", you still get your parachute.
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GM temporarily halts paid advertising on Twitter
https://www.reuters.com/technology/gm-temporarily-halts-paid-advertising-twitter-2022-10-28/Racist tweets quickly surface after Musk closes Twitter deal
https://www.washingtonpost.com/technology/2022/10/28/musk-twitter-racist-posts/ -
@Jolly said in Elon Musk buys a big chunk of Twitter:
Without cause?
Musk owns the company. He can fire or hire who he chooses...
Sorry - it wasn't very clear what I was trying to say. I was trying to say that a lot of executive contracts have a "golden parachute". If you are let for "for cause", you don't get the parachute. However, if you were let go "without cause", you still get your parachute.
@taiwan_girl said in Elon Musk buys a big chunk of Twitter:
@Jolly said in Elon Musk buys a big chunk of Twitter:
Without cause?
Musk owns the company. He can fire or hire who he chooses...
Sorry - it wasn't very clear what I was trying to say. I was trying to say that a lot of executive contracts have a "golden parachute". If you are let for "for cause", you don't get the parachute. However, if you were let go "without cause", you still get your parachute.
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And here comes Bezos trying to hurt Musk.
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We'll see how many people actually do end up voting against Twitter with their eyeballs and clicks. My suspicion is that not many will. Because actually the politically directional moderation didn't make the place more attractive, and the lack of it (to whatever extent a change will even be noticeable) won't make it less attractive.
That won't stop the left from writing op-eds about how the place has become a cesspool of hate, replete with references to troll tweets that could just as easily have been culled from Twitter before the Musk takeover. Ax is dutifully reporting such stories to TNCR as we speak.
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LOL, the number of people that I have seen posting on Facebook that they are leaving Twitter is HILARIOUS. I’ve just opened a Twitter account.
