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Thread: Elon Musk buys Twitter for $44 billion

  1. #1

    Elon Musk buys Twitter for $44 billion

    https://twitter.com/elonmusk/status/1514564966564651008


    Elon Musk Makes $43 Billion Unsolicited Bid to Take Twitter Private
    World’s richest person will offer $54.20 per share in cash
    https://www.bloomberg.com/news/artic...ver-of-twitter
    Giles Turner & Maxwell Adler (14 April 2022)

    Elon Musk has made a controversial offer to buy Twitter Inc., saying the company has extraordinary potential and he is the person to unlock it.

    The world’s richest person will offer $54.20 per share in cash, valuing Twitter at about $43 billion. The social media company’s shares rose just 5.3% to $48.27 at the market open in New York as investors began to assess how one of the platform’s most outspoken users will succeed in his takeover attempt.

    Musk, 50, announced the potential deal in a filing with the U.S. Securities and Exchange Commission on Thursday, after turning down a potential board seat at the company. The billionaire, who also controls Tesla Inc., first disclosed a stake of about 9% on April 4. Tesla shares fell about 1.8% on the news.

    Twitter said that its board would review the proposal and any response would be in the best interests of “all Twitter stockholders.”

    The bid is the most high-stakes clash yet between Musk and the social media platform. The executive is one of Twitter’s most-watched firebrands, often tweeting out memes and taunts to @elonmusk’s more than 80 million followers. He has been vociferous about changes he’d like to consider imposing at the social media platform, and the company offered him a seat on the board following the announcement of his $3.35 billion stake.

    Musk immediately began appealing to fellow users about prospective moves, from turning Twitter’s San Francisco headquarters into a homeless shelter and adding an edit button for tweets to granting automatic verification marks to premium users. One tweet suggested Twitter might be dying, given that several celebrities with high numbers of followers rarely tweet.

    Unsatisfied with the influence that comes with being Twitter’s largest investor, he has now launched a full takeover, one of the few individuals who can afford it outright. He’s currently worth about $260 billion according to the Bloomberg Billionaires Index, compared with Twitter’s market valuation of about $37 billion.

    Although Musk is the world’s richest person, how he will find $43 billion in cash has yet to be revealed.

    “This becomes a hostile takeover offer which is going to cost a serious amount of cash,” said Neil Campling, head of TMT research at Mirabaud Equity Research. “He will have to sell a decent piece of Tesla stock to fund it, or a massive loan against it.”

    Much of Musk’s ire against Twitter has been directed against what he perceives as censorship by the platform. In a letter to Twitter’s board alongside details regarding his offer, Musk said he believes Twitter: “will neither thrive nor serve [its free speech] societal imperative in its current form. Twitter needs to be transformed as a private company”

    Musk, who is scheduled to speak later today at a TED conference in Vancouver, is offering a 54% premium over the Jan. 28 closing price, the date after which he began building his initial stake in Twitter. The takeover attempt is unlikely to be a drawn-out process.

    “If the deal doesn’t work, given that I don’t have confidence in management nor do I believe I can drive the necessary change in the public market, I would need to reconsider my position as a shareholder,” said Musk.

    Musk informed Twitter’s board over the previous weekend that he thought the company should be taken private, according to today’s statement.

    The $54.20 per share offer is “too low” for shareholders or the board to accept, said Vital Knowledge’s Adam Crisafulli in a report, adding that the company’s shares hit $70 less than a year ago.

    Although Musk said his offer was “best and final,” it opens the gates to rivals, either to team up with or out-bid his offer. Oracle CEO Larry Ellison, also on the board of Tesla, previously attempted to buy a stake in social media platform TikTok.

    Musk has hired Morgan Stanley as his adviser for the bid. The offer price also includes the number 420, widely recognized as a coded reference to marijuana. He also picked $420 as the share price for possibly taking Tesla private in 2018, a move that brought him scrutiny from the SEC.

    “There will be host of questions around financing, regulatory, balancing Musk’s time (Tesla, SpaceX) in the coming days,” said Dan Ives, analyst at Wedbush. “But ultimately based on this filing it is a now or never bid for Twitter to accept.”




    Official SEC filing: https://www.sec.gov/Archives/edgar/d...8d1_sc13da.htm

    Elon Musk’s full letter to Twitter’s board:
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      -- The Law (p. 54)
    • "Government is that great fiction, through which everybody endeavors to live at the expense of everybody else."
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  3. #2
    What exactly is Musks aim and end goal? I highly doubt Twitter will receive substantial change. It'll continue to be a liberal cesspool no matter who is in charge.
    Last edited by Anti Globalist; 04-14-2022 at 08:44 AM.
    "Perhaps one of the most important accomplishments of my administration is minding my own business."

    Calvin Coolidge

  4. #3
    Quote Originally Posted by Anti Globalist View Post
    What exactly is Musks aim and end goal? I highly doubt Twitter will receive substantial change. It'll continue to be a liberal cesspool no matter who is in charge.
    Look at the bigger picture.

    Starlink is an actually good product. It serves the people.

    Teslas are actually very good cars. They are subsidized because they pander to the Left's "green" agenda but do you really think that Musk is part of that agenda, given that he never really talks about it? Or is it, rather, that Musk recognizes a lucrative opportunity to get politically irrational players to pay for your good business idea?

    Space-X's stated goals are wacky but their day-to-day operations are actually pretty sane. They're one of the few players able to get payloads up into space. That's a lot like being an aircraft builder in the early days of aviation... they're ground-floor in the privatized space-race. Once again, Musk mines the enthusiasm of irrational market players to earn a steady paycheck.

    Get it?

  5. #4
    Quote Originally Posted by Anti Globalist View Post
    What exactly is Musks aim and end goal?
    He professes to be a free-speech absolutist. Presumably, he intends to put an end to things like Twitter's suppression of certain news items (like the Hunter Biden laptop story) and the suspension or banning of accounts for spreading what the corporate press deems to be "misinformation" or what the woke mob deems to be offensive. (The Babylon Bee, for example, has been suspended for a few weeks now because they refuse to delete a tweet in which they referred to Rachel Levine as a "man". And the Libs of Tik Tok account was locked yesterday for "hateful content" just for doing what they've always done - namely, posting videos of bat$#@! insane lefties/wokesters saying bat$#@! insane things. Presumably, that sort of thing would come to an end under Musk's ownership, or at least be sharply curtailed.)

    Quote Originally Posted by Anti Globalist View Post
    I highly doubt Twitter will receive substantial change.
    Maybe. Maybe not. We'll see.

    But there are a lot of unhinged lefties & neocons, screeching wokesters, and/or blue-check corporate media hacks melting down right now because they're afraid you are wrong.

    https://twitter.com/MaxBoot/status/1514570168730636290


    https://twitter.com/MatthewRozsa/sta...82899651194891


    Quote Originally Posted by Anti Globalist View Post
    It'll continue to be a liberal cesspool no matter who is in charge.
    *shrug* Twitter will continue to be whatever is in one's timeline, depending on who one follows.

    If you follow "liberal cesspool" accounts, then that is what you'll get.

    So if your Twitter feed is a "liberal cesspool", then that's on you.

    You don't need Elon Musk (or anyone else) to do anything about it - just stop following "liberal cesspool" accounts.
    Last edited by Occam's Banana; 04-14-2022 at 09:53 AM.

  6. #5
    Quote Originally Posted by Occam's Banana View Post
    He professes to be a free-speech absolutist. Presumably, he intends to put an end to things like Twitter's suppression of certain news items (like the Hunter Biden laptop story) and the suspension or banning of accounts for spreading what the corporate press deems to be "misinformation" or what the woke mob deems to be offensive.
    Pretty much every twitter account that has been doing actual journalism on the Ukraine war, has been suspended or banned at some point.

    They've pretty much all moved to telegram by now.
    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
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  7. #6
    Quote Originally Posted by Anti Globalist View Post
    What exactly is Musks aim and end goal? I highly doubt Twitter will receive substantial change. It'll continue to be a liberal cesspool no matter who is in charge.
    Elon Musk wouldn't be dumping $40 billion of his own money into it, if he wasn't going to take it seriously, to fix the culture at twitter.
    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
    - Kim Kardashian

    Donald Trump / Crenshaw 2024!!!!

    My pronouns are he/him/his

  8. #7
    Quote Originally Posted by TheTexan View Post
    Elon Musk wouldn't be dumping $40 billion of his own money into it, if he wasn't going to take it seriously, to fix the culture at twitter.
    Oh, there's definitely another possible explanation.

    Quote Originally Posted by Occam's Banana View Post
    Looks like Musk just bought himself the 2024 Republican presidential nomination. He's got it in the bag. No other qualifications needed.

    Hell, no more attention than RNC voters pay to whether or not promises are kept, he doesn't even need to bring free speech to $#@!ter to get it.
    Last edited by acptulsa; 04-14-2022 at 09:59 AM.
    Quote Originally Posted by Swordsmyth View Post
    And?
    Dems cheat.
    Trump stopped them cheating.

    A clear case of Liberty preserving authoritarianism.

  9. #8



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  11. #9
    Quote Originally Posted by acptulsa View Post
    Oh, there's definitely another possible explanation.



    Looks like Musk just bought himself the 2024 Republican presidential nomination. He's got it in the bag. No other qualifications needed.

    Hell, no more attention than RNC voters pay to whether or not promises are kept, he doesn't even need to bring free speech to $#@!ter to get it.
    LOL. Well, Twitter did, in large part, get Biden elected......

    so....

    Elon Musk 2024!!!
    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
    - Kim Kardashian

    Donald Trump / Crenshaw 2024!!!!

    My pronouns are he/him/his

  12. #10
    Quote Originally Posted by TheTexan View Post
    Pretty much every twitter account that has been doing actual journalism on the Ukraine war, has been suspended or banned at some point.

    They've pretty much all moved to telegram by now.
    Scott Ritter wrote an article yesterday, of how he got banned...

    https://consortiumnews.com/2022/04/1...n-free-speech/

    The TLDR: disagreeing with the official narrative, is considered "abuse and harassment"
    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
    - Kim Kardashian

    Donald Trump / Crenshaw 2024!!!!

    My pronouns are he/him/his

  13. #11

  14. #12

  15. #13

  16. #14
    Quote Originally Posted by Anti Globalist View Post
    What exactly is Musks aim and end goal? I highly doubt Twitter will receive substantial change. It'll continue to be a liberal cesspool no matter who is in charge.
    If he simply stops Twitter from censoring people then there will be liberal and conservative cesspools on Twitter. Jack Dorsey when he kinda/sorta lamented his roll in creating internet censorship talked about Usenet. Usenet was truly a free for all. NOBODY owned it and all attempts and censoring free speech on Usenet failed for good and for ill. (Usenet is were the term "spam" was invented.) What is needed is an improved version of Usenet were it's easy to block people you don't like talking to you or your community, but they can say whatever the hell they want to their community, even if it's about you. That said....I have no idea at this point whether or not I trust Musk. But things can't get any worse....can they?
    9/11 Thermate experiments

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    The only way I see Trump as likely to affect any real change would be through martial law, and that has zero chances of success without strong buy-in by the JCS at the very minimum.

  17. #15
    Interesting move by Musk.

    He has offered a price greater than the current share price. If the Board refuses the offer and Twitter stock plummets, shareholders will be able to sue the Board for not fulfilling their fiduciary responsibility.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
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  18. #16
    I believe the ulterior motive is not to buy twitter but to have everyone go nuts over it. Twitter stock will soar and he can unload the shares he just purchased doubling his money.



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  20. #17
    Quote Originally Posted by GlennwaldSnowdenAssanged View Post
    I believe the ulterior motive is not to buy twitter but to have everyone go nuts over it. Twitter stock will soar and he can unload the shares he just purchased doubling his money.
    The ultimate twitter troll.
    Quote Originally Posted by Swordsmyth View Post
    And?
    Dems cheat.
    Trump stopped them cheating.

    A clear case of Liberty preserving authoritarianism.

  21. #18
    Quote Originally Posted by acptulsa View Post
    The ultimate twitter troll.
    Please elaborate.

  22. #19
    Quote Originally Posted by Brian4Liberty View Post
    Interesting move by Musk.

    He has offered a price greater than the current share price. If the Board refuses the offer and Twitter stock plummets, shareholders will be able to sue the Board for not fulfilling their fiduciary responsibility.
    And if it goes up he can dump his shares at a hefty profit.

  23. #20
    Quote Originally Posted by acptulsa View Post
    The ultimate twitter troll.
    Quote Originally Posted by GlennwaldSnowdenAssanged View Post
    Please elaborate.
    This:

    Quote Originally Posted by GlennwaldSnowdenAssanged View Post
    And if it goes up he can dump his shares at a hefty profit.
    All that and he becomes a right wing darling too. Can you think of a better way to troll twitter?
    Quote Originally Posted by Swordsmyth View Post
    And?
    Dems cheat.
    Trump stopped them cheating.

    A clear case of Liberty preserving authoritarianism.

  24. #21
    Quote Originally Posted by Anti Globalist View Post
    What exactly is Musks aim and end goal? I highly doubt Twitter will receive substantial change. It'll continue to be a liberal cesspool no matter who is in charge.
    Bring back Alex Jones, President Trump, Babylon Bee, Laura Loomer, Milo, anybody who got banned for tweeting #LearnToCode and a multitude of others.

    Make Twitter Great Again.
    "He's talkin' to his gut like it's a person!!" -me
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  25. #22
    Pump and dump?

  26. #23
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

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    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  27. #24
    So the basic argument against Musk seems to be that twitter needs more content moderation to protect free speech.



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  29. #25
    I am pretty sure for less than 43 Billion he could launch his own private successful twitter competitor and put them out of business or at least be a legitimate player in the industry.

  30. #26
    Elon Musk’s Twitter Bid Proves The ‘Private Business Can Do What It Wants’ Censorship Defense Was Always Garbage
    BY: ELLE REYNOLDS - APRIL 14, 2022

    The “private business” or “build your own internet” argument in defense of Big Tech censorship was always a garbage excuse to let Silicon Valley silence speech it disagrees with, and the meltdown about Elon Musk’s offer to buy Twitter (making the platform a truly private company) makes it more obvious than ever.

    The Tesla and SpaceX CEO, who became Twitter’s biggest shareholder earlier this month after purchasing 9.2 percent of the company’s stock, sent a letter to Twitter Wednesday night offering to buy the rest of Twitter’s stock at $54.20 per share in cash.

    When Big Tech companies like Twitter have censored users or content that challenges their agendas in the past — see, the New York Post’s Hunter Biden’s laptop bombshell, the 45th president of the United States, reporting on the crisis at the U.S. southern border, an obituary of a mother who reportedly died from Covid shot complications, members of Congress, investigative reporting on abortion, summaries of court decisions about election law, a Federalist editor who said boys and girls are different, The Babylon Bee, and the “Libs of Tik Tok” account, which exposes educators talking about their radical sex ideology, to name a few — a gaggle of censorship aficionados inevitably insist that “because the First Amendment doesn’t regulate private companies they can silence whoever the heck they want.”

    As he typically does in such matters, Washington Post columnist Max Boot provides a textbook example.

    After the New York Post published bombshell reporting about a compromising laptop belonging to then-presidential candidate Joe Biden’s son Hunter — a laptop which, more than a year later, The New York Times and Boot’s own employer have admitted is legit — Boot loudly defended Twitter’s “private-sector” right to censor the story.

    “Facebook and Twitter are private-sector companies, and they have no obligation to pass along possible Russian disinformation. That’s not ‘censorship.’ It’s editorial judgment, and it’s something we need more of online,” Boot insisted in October 2020. “I’m all for free speech, but the First Amendment does not impose on companies a mandate to spread Russian — or Republican — disinformation.”

    Now that Musk has offered to buy Twitter and make it a really private company, Boot is singing a different tune. “I am frightened by the impact on society and politics if Elon Musk acquires Twitter. He seems to believe that on social media anything goes,” Boot cried on Thursday morning. “For democracy to survive, we need more content moderation, not less.”
    ...
    CNN’s Brian Stelter had a similarly disingenuous change of heart. In response to news that “The [Trump] White House is expected to up its pressure on Twitter in the coming days, and is considering sending a threatening letter for issuing fact checks on the president’s tweets” in May 2020, Stelter mused, “A letter threatening… what? Twitter is a private company.”

    Fast-forward to Thursday morning, and Stelter was suddenly worried about Twitter’s power, retweeting the perspective that “Twitter is too important to be owned and controlled by a single person. The opposite should be happening. Twitter should be decentralized as a protocol that powers an ecosystem of communication products and services.”
    ...
    More: https://thefederalist.com/2022/04/14...lways-garbage/
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  31. #27
    Quote Originally Posted by Brian4Liberty View Post

  32. #28
    Musk, who is scheduled to speak later today at a TED conference in Vancouver [...]
    https://twitter.com/YALiberty/status...58968240590849


    https://twitter.com/ColumbiaBugle/st...59066320068653

  33. #29

  34. #30
    Quote Originally Posted by GlennwaldSnowdenAssanged View Post
    I am pretty sure for less than 43 Billion he could launch his own private successful twitter competitor and put them out of business or at least be a legitimate player in the industry.
    crowdsourcing is not easy - even with massive marketing money. This is more like highlander - there can be only one - so the quickest solution is to buy the one

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