With all due respect, I won't join the board but... - Elon Musk offers to buy Twitter

[coasterghost]

 

Summary

After deciding to not join the Board of Twitter after buying a 9% stake in the social media company. In a change of events, Elon Musk has offered to wholly buy the company for over 40Billion USD. 

 

Quotes

Quote

Reuters: "Musk's offer price of $54.20 per share, which was disclosed in a regulatory filing on Thursday, represents a 38% premium to Twitter's April 1 close, the last trading day before the Tesla CEO's more than 9% stake in the company was made public."

 

NBC News: "The letter, delivered on Wednesday, amounts to an offer to take Twitter private, a move that would give Musk greater control of the company."

 

My thoughts

 In a non-shock of being a major market disrupter in at times questionable and fineable actions, I guess running a Car Manufacturer and leading a company at the forefront of space exploration that one would get bored of it. That all being said, It's just getting rather annoying at the increasingly minimal competitive nature of the market with everything being owned by a small majority of companies and entities. It sadly can see this going though, but sadly with the cult he has around himself, I can see the platform degrading in a more so rapid fashion. 

 

Yay Capitalism I guess...

 

Sources

SEC Filing: https://www.sec.gov/Archives/edgar/data/0001418091/000110465922045641/tm2212748d1_sc13da.htm

NBC NEWS: https://www.nbcnews.com/tech/tech-news/elon-musk-makes-move-buy-twitter-rcna24354

REUTERS: https://www.reuters.com/technology/elon-musk-offers-buy-twitter-5420-per-share-2022-04-14/?utm_source=reddit.com

[CarlBar]

Ummm, OK....

 

Not strictly a suprise after he turned down joining the board but very much a "welp i guess thats happening" kinda thing. I've honestly no idea what would happen if he got a-hold of twitter, not really his usual type of company.

 

I guess bemused sums up my reaction.

[Spotty]

Elon does know that buying Twitter doesn't give him ownership of all the memes and NFTs posted to Twitter, right? /s

 

This move isn't a huge surprise after his earlier investment in to Twitter. I don't really see any reason why Twitter wouldn't want to sell to be honest. $40 Billion (On top of the 3 Billion he already paid for 9% share) seems like a pretty high valuation for Twitter. Will be interesting to see what changes Twitter would make in the future if he does indeed buy the company.

[porina]

As a user, the big question is what does he plan to do if this goes through?

 

While I kinda understand him as an individual, he's not your traditional leadership type so where is he going with this?

[Kisai]

18 minutes ago, Spotty said:

Elon does know that buying Twitter doesn't give him ownership of all the memes and NFTs posted to Twitter, right? /s

 

This move isn't a huge surprise after his earlier investment in to Twitter. I don't really see any reason why Twitter wouldn't want to sell to be honest. $40 Billion (On top of the 3 Billion he already paid for 9% share) seems like a pretty high valuation for Twitter. Will be interesting to see what changes Twitter would make in the future if he does indeed buy the company.

Well, if he took it private, he no longer has to be under the SEC's thumb for it. That said... uh... no good will come of this.

[JediFragger]

I don't use Twitter so I'll just grab some popcorn and enjoy the show...

[Avocado Diaboli]

I mean, sure, let the meme king have that shithole. Who in earnest would care besides people should honestly go out more and touch grass? But you know that this is only another step towards the inevitable and I can already hear people sharpening those guillotines. 

[Remixt]

I wonder if he will/would use it as leverage for marketing since Tesla doesn't do any of that traditionally.

[Shreyas1]

Hey, at least it can't get any worse than it already is

[Lurick]

10 minutes ago, Shreyas1 said:

Hey, at least it can't get any worse than it already is

Oh no it can get much worse

[coasterghost]

6 minutes ago, Lurick said:

Oh no it can get much worse

That's all we need. The Tesla/SpaceX/ElonCult Bros as mods. 

 

[Lurick]

5 minutes ago, coasterghost said:

That's all we need. The Tesla/SpaceX/ElonCult Bros as mods. 

 

Crypto bro powers activate!!

[coasterghost]

2 minutes ago, Lurick said:

Crypto bro powers activate!!

Then they'll put their eggs all in one basket and become the average user of WallStreetBets 

[Doobeedoo]

Well I mean Twitter is already a cesspool so yeah I wouldn't say it can get worse. 

[Fasterthannothing]

Twitter literally can't get an worse than it already is. The fact that social media is a town square pretending they aren't a town square for freedom of speech purposes is both laughable and sad. Honestly I'm ready for anyone to shake up the social media bubble.

[PeachGr]

Elon will maybe does it to increase the value of stocks so that he can still his. He had manipulate market the same way when he said that he will make Tesla private

[suicidalfranco]

The master plan: buy it, and shut it down. Saving humanity one cobble stone at a time.

[ravenshrike]

2 hours ago, Spotty said:

Elon does know that buying Twitter doesn't give him ownership of all the memes and NFTs posted to Twitter, right? /s

 

This move isn't a huge surprise after his earlier investment in to Twitter. I don't really see any reason why Twitter wouldn't want to sell to be honest. $40 Billion (On top of the 3 Billion he already paid for 9% share) seems like a pretty high valuation for Twitter. Will be interesting to see what changes Twitter would make in the future if he does indeed buy the company.

Not on top of. Buying for 40 billion would mean that Musk effectively pays himself his percentage of the shares. Although the actual tax structure would be a bit more complicated. So he's "only" paying about 36 billion more for the company. 

[Orcblood]

Good. I'm glad to see this happening. May he save it and bring free speech back.

[SolarNova]

If he can get the woke lunatics running the asylum out and proper level headed management in. Sounds good to me.

 

ofc i still wont use it.

[GhostRoadieBL]

I support this, twitter has been pretty bad for years and doesn't seem to be trying at all to maintain information accuracy or transparency. Maybe some of the "big changes" Musk wants to implement can change it for the better. If not, it will fade into history as a waste of time and we'll finally move to the next fad.

[Mark Kaine]

So apparently from what im reading most people seem to think this is a "pump and dump" … which wouldnt be his first time either…

 

I kinda hope thats it, because while twitter overall certainly isnt great, they definitely try to stay balanced, and are, if you know who to "follow" actually a good source for news and analysis (of course thats only a byproduct of being extremely popular, but its there) this will all go down the drain if privaticed, and basically controlled by a big manchild with no oversight … but this is really kinda unlikely, i mean twitter and authorities would first need to agree on this… (and apparently twitter is worth more than the proposed dumping price to begin with) 

[poochyena]

3 hours ago, Shreyas1 said:

Hey, at least it can't get any worse than it already is

2 hours ago, Doobeedoo said:

Well I mean Twitter is already a cesspool so yeah I wouldn't say it can get worse. 

2 hours ago, SlidewaysZ said:

Twitter literally can't get an worse than it already is.

Have you guys literally never used any other platform before? It can get much much much worse. You are all extremely out of touch if you don't know the history of major platforms like myspace, digg, tumblr, or facebook to know how things could get much worse.

2 hours ago, SlidewaysZ said:

The fact that social media is a town square

Its not.

1 hour ago, Orcblood said:

Good. I'm glad to see this happening. May he save it and bring free speech back.

Tell me, what speech can you not say on twitter?

 

1 hour ago, SolarNova said:

If he can get the woke lunatics running the asylum out and proper level headed management in. Sounds good to me.

 

ofc i still wont use it.

You literally "agreed" with the comment above you asking for free speech. Do you seriously not see the hypocrisy there?

[CarlBar]

4 hours ago, porina said:

As a user, the big question is what does he plan to do if this goes through?

 

While I kinda understand him as an individual, he's not your traditional leadership type so where is he going with this?

 

Not a user but will still watch with interest, one thing you can pretty much guarantee with Elon Musk involved is it will never be dull. 

 

2 hours ago, SlidewaysZ said:

Twitter literally can't get an worse than it already is. The fact that social media is a town square pretending they aren't a town square for freedom of speech purposes is both laughable and sad. Honestly I'm ready for anyone to shake up the social media bubble.

 

No idea which side of the freedom of speech line your going for, but the analogy to the town square is excellent. The internet has, (or is, depending on what your talking about), replacing so much stuff, but it doesn't operate under the old rules and limitations and thats creating all kinds of issues.

[Shreyas1]

2 minutes ago, poochyena said:

Have you guys literally never used any other platform before? It can get much much much worse. You are all extremely out of touch if you don't know the history of major platforms like myspace, digg, tumblr, or facebook to know how things could get much worse.

Most of those just kinda died though, or are in the process of dying. At the very least, facebook and tumblr are nowhere near their peaks.

Say what you will about them, generally you wont get doxxed because you disrespected some minecraft youtuber on their platforms.