So his backers think they will make more money by driving right wing governments to power all over than by having a viable business plan for twitter. Dark.
That was the early headline but pretty sure it was cash and stock a day or two into the announcements
Twitter being bought by a POS right winger like Musk is going to be insanely bad for the long term health of this country and the planet as a whole
It isn't Tesla buying Twitter so I think it has to be a cash offer (Twitter shareholders aren't getting Tesla stock). The only way that Tesla stock is involved IIRC is collateral with banks on credit lines to buy Twitter. But I'm no banker. It's not like buying a house where cash means the lack of borrowing/leverage, it refers to what the acquired companies shareholders receive.
I'm pretty sure he sold shares of Tesla in order to help in this stock deal... Real reason he did was to get some of his money out of Tesla as even a dumb shit like him is smart enough to know it's a house of cards https://www.nytimes.com/2022/08/10/...n Tesla shares to,of the social media company.
I think you’re right, technically is all cash Fran Tarkenton Him selling Tesla stock to fund was what I thought I remembered
That and part of the widespread insider dumping of tech shares that started last year. I think there is a non zero chance that Elon did this as a way to dump TSLA without signaling to the world that the stock is overvalued. Probably figured he could get out of the deal and move on.
I found their arguments against this interpretation compelling but they’re Brits so do what you will.
If Elon is speaking at this point, you should assume he's fucking lying. That's literally all he's done his entire existence
and that technicality (which was an elementary point) is not what you and your fellow elon fanboys were claiming just admit you thought he had $40bn liquid rather than converting other assets to finance the acquisition
Huh? Fran don’t debase yourself, wasn’t a gotcha and no actually the opposite, I thought it had come out later that it was a combination of cash and stock. But as others have pointed out here, some actual cash from a stock sale and then equity partners + leverage against stock seems to be the final answer. I don’t think 44bn in just liquid cash was ever on the table unless I missed an article somewhere
Completing a 44 billion dollar sale quickly enough to impact the Midterms is awfully unlikely. Early voting has already started in some areas. The long con has always been 2024 for them.
Tesla's stock price, and thus Musk's ability to put up equity/collateral, is just one thing Pretty much every major investment bank is hung with crazy amounts of debt from mega deals that are going sideways and the financing markets in massive LBOs have gotten so wacky, that I don't know where the hell he's going to get +$25 billion of debt to buy something like Twitter Haven't followed every twist and turn of this, but this seems like him leaking something loony after getting dunked on yesterday
is there a technical reason why a twitter competitor can't emerge? i understand that google's algorithm is far ahead of the competition so google as a search engine is unlikely to be replaced. and i can understand how a facebook competitor would struggle, as reconnecting with your friends would be obnoxious and people have been posting photos there for 15 years. but twitter is just people writing small blurbs and following someone (similar to facebook's friends) is a one-step/one-person process. it would be sort of obnoxious to re-follow a bunch of new accounts but that doesn't seem that burdensome. do people care about older tweets? they're not easy to look through and search for like older facebook posts/photos.
It’s going to get ridiculously interesting. The financing is committed with an interest cap that is woefully shy of where this would print today. He’s going to need to put up more equity for the banks to not get completed fucked. I think he brings in a ridiculous equity partner that Biden can’t live with and forces the DoJ to block the deal and wiggles out of this.
Or he gets a major discount on it, which I think was part of his play all along. I think he’s only been semi-interested in actually buying it, but only at absolutely the right price. I’m sure he’ll try to use whatever he can (Iike the bot argument) to try to weasel his way into a re-negotiation.
It'd take like, the entire Associated Press to purposely abandon the platform and go somewhere else. Even that wouldn't 'end' twitter, but it might get enough reason for people to bother checking something else. Same with any other category -- every professional sports player, or etc.