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Tavernade

Tavernade
Moderator
Sep 18, 2018
8,617
He's on the level of dude that wore an iron man mask while robbing a bank in Spider-Man.

He's a low rent Glomgold.
907eb016cc3bdda00c79cf1023b4554a8636b02a.gifv


I think it's more likely he's trying to get a lower price than walking away. His net worth has collapsed recently, and Twitter would be worth less after the tech carnage if not for his offer supporting it, so he probably hopes they'd rather settle for a few billion lower than have their dirty laundry aired by Musk every day for the next year.

Would Twitter have the most dirty laundry in that situation?
 

Tavernade

Tavernade
Moderator
Sep 18, 2018
8,617
Sure. Anything confidential he'll just tweet out to be a troll. Laws do not concern him. And why should they? He never gets more than a slap on the wrist.

I'm not a lawyer or anything similar, but I kinda feel like him doing that to the point it damaged Twitter would just let Twitter sue him a second time, unless they somehow didn't make him sign some sort of confidentiality agreement over the info.
 

Sheepinator

Member
Jul 25, 2018
27,945
I'm not a lawyer or anything similar, but I kinda feel like him doing that to the point it damaged Twitter would just let Twitter sue him a second time, unless they somehow didn't make him sign some sort of confidentiality agreement over the info.
Yeah, but they don't want this overhang, distraction and bad PR to drag on, even if they are in the right.
 

Lord Fanny

Banned
Apr 25, 2020
25,953
So basically, if I'm reading this right, Musk will still probably end up owning Twitter, even if the price is different, even if Twitter basically has to force it to happen due to how far along it's gone in the process? That sucks if that's the case
 

ameleco

The Fallen
Nov 2, 2017
975
He clearly knows a lot about rocket engines.


View: https://www.youtube.com/watch?v=E7MQb9Y4FAE

The idea he's just some money move is a dumb myth. Doesn't stop him from having shitty political views.

Meh. He has TONS of smart people working for him. Anyone can repeat anything. He's stated nothing more than a few power point presentations he's seen. Completely unimpressed.

One thing I should clarify here: there's a huge difference between being able to learn things and actually inventing the system(s) being used there. I am fairly confident in saying he personally has invented nothing or created anything new. His very intelligent staff on the other hand has probably done everything.
Willing to be proven wrong! I would even LOVE if I was wrong, but right now I see nothing more than someone (like most billionaires) who just got extraordinarily lucky, scammed some people, etc and then get credit as if they're the shit. He isn't.
 

Cokomon

One Winged Slayer
Member
Nov 11, 2017
3,762
Dude is such an attention seeker; the richest man on earth and still looking for someone to notice him.

Could've been one of the greatest innovators of our time but he chose clout chasing and slinging his dick around like Nick Cannon…
You know he was pissed when everyone was talking about him buying Twitter and then the Roe V Wade SCOTUS leak happened, and suddenly no one was talking about him anymore.
 

degauss

Banned
Oct 28, 2017
4,631
Meh. He has TONS of smart people working for him. Anyone can repeat anything. He's stated nothing more than a few power point presentations he's seen. Completely unimpressed.

One thing I should clarify here: there's a huge difference between being able to learn things and actually inventing the system(s) being used there. I am fairly confident in saying he personally has invented nothing or created anything new. His very intelligent staff on the other hand has probably done everything.
Willing to be proven wrong! I would even LOVE if I was wrong, but right now I see nothing more than someone (like most billionaires) who just got extraordinarily lucky, scammed some people, etc and then get credit as if they're the shit. He isn't.
As much as I think he's a bit of a scammer in terms of overselling and over promising, he's also far from just someone who got lucky.

I remember George Hotz going in some old video mentioning about how Elon was able to go deep into that weeds with him on car AI approaches and implemention detail, and that Elon on the fly identified tspecific flaws to George's approach.
 

SquirrelSr

Member
Oct 26, 2017
6,015
As much as I think he's a bit of a scammer in terms of overselling and over promising, he's also far from just someone who got lucky.

I remember George Hotz going in some old video mentioning about how Elon was able to go deep into that weeds with him on car AI approaches and implemention detail, and that Elon on the fly identified tspecific flaws to George's approach.
This is the same guy trying to re-invent the subway.
 

beat

Member
Oct 28, 2017
2,518
So basically, if I'm reading this right, Musk will still probably end up owning Twitter, even if the price is different, even if Twitter basically has to force it to happen due to how far along it's gone in the process? That sucks if that's the case
Given how toxic the situation is, I could see Twitter winning its suit to compel "specific performance" and then settling with Musk where he pays some amount for this to go away so he doesn't have to liquidate enough stock to actually buy Twitter. Maybe he just gives all the Twitter stock he bought back to the company, which even at today's post-tech-winter price is still worth about almost $4B if he still currently has a 14% stake.
 

Principate

Member
Oct 31, 2017
11,186
So basically, if I'm reading this right, Musk will still probably end up owning Twitter, even if the price is different, even if Twitter basically has to force it to happen due to how far along it's gone in the process? That sucks if that's the case
Not inherently. They want to enforce the merger agreement. There's a backout clause which involves Elon paying a hefty fee for backing out which he would likely try to avoid. Twitter don't want Elon to own twitter at any price otherwise they would have negotiated the price.
 

convo

Member
Oct 25, 2017
7,365
I remember George Hotz going in some old video mentioning about how Elon was able to go deep into that weeds with him on car AI approaches and implemention detail, and that Elon on the fly identified tspecific flaws to George's approach.
Now hold on, Tesla's track record for their autopilot isn't exactly going all that well so i don't think this is actually doing anything to compliment his abilities. Plus Tesla's cost cutting measures of using video cameras instead of lidar. Two people also aren't going to be the sole developers of AI programs, Elon Musk did not and can not make Rocket Systems on his own.
 

caliph95

Member
Oct 25, 2017
35,160
Not inherently. They want to enforce the merger agreement. There's a backout clause which involves Elon paying a hefty fee for backing out which he would likely try to avoid. Twitter don't want Elon to own twitter at any price otherwise they would have negotiated the price.
Btw that's only if unforeseen circumstances or a third party like a government agency stopped the sale or made him unable not him getting cold feet
They'll probably get him to settle for a lot more
Probably
Not a lawyer
 

Apathy

Member
Oct 25, 2017
11,992
It seems likely Twitter needs to prove that their end of the deal was legit and carry on to deflect any BS Musk may try to say is the reason he's not doing it, to curb misinformation

because I see him successfully playing the victim and starting his own social media platform after this

Didn't work for Trump, wouldn't work for Musk. He's just going to bitch and complain on Twitter. He's not going to go waste his money on building his own social media platform. These morons thrive on "owning" the people that dislike them. When they have an echo chamber of sycophants, their whole system breaks down
 

dhlt25

Member
Oct 27, 2017
1,814
As much as I think he's a bit of a scammer in terms of overselling and over promising, he's also far from just someone who got lucky.

I remember George Hotz going in some old video mentioning about how Elon was able to go deep into that weeds with him on car AI approaches and implemention detail, and that Elon on the fly identified tspecific flaws to George's approach.
tbh you learn a lot through osmosis if you're regularly in meetings with really smart people. I'm sure he's quite intelligent himself so just from attending meetings/presentations he prob has a lot of insider knowledge about how things work and where the flaws might be
 

Bufbaf

Don't F5!
Member
Oct 25, 2017
12,642
Hamburg, Germany
God it would be amazing if musk will lose the majority of his dumb fans because Trump is openly insulting and ridiculing him and they rather follow their Papa T instead of Papa M.
 

Akira86

Member
Oct 25, 2017
19,585
Trump could get into aerospace. Elon Musk doesn't have to be the only business leader to get kudos for being big in tech. Musk isn't even a real American!

someone should put that in Trump's ear.
 

Truly Gargantuan

Still doesn't have a tag :'(
Banned
Oct 25, 2017
8,034
Trump's only talking shit on Musk because Musk still has his Twitter account and is richer than Trump.
 

Jag

Member
Oct 26, 2017
11,669
Lawyers are getting ready for the Heavyweight Title Fight of the Century. Really shaping up to be a battle of titans. Also these courts in Delaware are fast. Like months instead of years.

Tale of the tape:

In Twitter's corner:
Twitter Inc. has hired merger law heavyweight Wachtell, Lipton, Rosen & Katz as it races to sue Elon Musk for moving to dump his $44 billion takeover of the company, according to people familiar with the matter.
By hiring Wachtell, it gains access to lawyers including Bill Savitt and Leo Strine, who served as Chancellor of the Delaware Chancery Court, where the case will be heard.

In Musk's corner:
Musk has brought in Quinn Emanuel Urquhart & Sullivan LLP. The firm led his successful defense against a defamation claim in 2019 and is representing him as part of an ongoing shareholder lawsuit over his failed attempt to take Tesla Inc. private in 2018.

Venue:
Delaware is the corporate home to more than half of US public companies, including Twitter, and more than 60% of Fortune 500 firms. There, chancery judges -- business law experts -- hear cases without juries and can't award punitive damages. Based on previous merger fights, efforts to terminate a deal can play out within a few months, often ending with settlements to avoid further wrangling.

www.bloomberg.com

Twitter Assembles Legal Team to Sue Musk Over Dropped Takeover

Twitter Inc. has hired merger law heavyweight Wachtell, Lipton, Rosen & Katz as it races to sue Elon Musk for moving to dump his $44 billion takeover of the company, according to people familiar with the matter.
 

vixolus

Prophet of Truth
Member
Sep 22, 2020
54,287
Lawyers are getting ready for the Heavyweight Title Fight of the Century. Really shaping up to be a battle of titans. Also these courts in Delaware are fast. Like months instead of years.

Tale of the tape:

In Twitter's corner:


In Musk's corner:


Venue:


www.bloomberg.com

Twitter Assembles Legal Team to Sue Musk Over Dropped Takeover

Twitter Inc. has hired merger law heavyweight Wachtell, Lipton, Rosen & Katz as it races to sue Elon Musk for moving to dump his $44 billion takeover of the company, according to people familiar with the matter.
TIL the private shares thing is still ongoing?

Also i see this winding up being Elon just has to pay a few cool billions in settlement fees
 

danm999

Member
Oct 29, 2017
17,096
Sydney
Lawyers are getting ready for the Heavyweight Title Fight of the Century. Really shaping up to be a battle of titans. Also these courts in Delaware are fast. Like months instead of years.

Tale of the tape:

In Twitter's corner:


In Musk's corner:


Venue:


www.bloomberg.com

Twitter Assembles Legal Team to Sue Musk Over Dropped Takeover

Twitter Inc. has hired merger law heavyweight Wachtell, Lipton, Rosen & Katz as it races to sue Elon Musk for moving to dump his $44 billion takeover of the company, according to people familiar with the matter.

It's interesting the article mentions the most relevant precedent here;

In 2000, Tyson Foods Inc. agreed to acquire rival IPB Corp. Soon after agreeing to the deal, the meat market suffered a precipitous downturn, impacting both companies financially. Tyson argued it had been given misleading information about IBP's business and was thus no longer obliged to complete the $3.2 billion merger.

which suggests Musk will face an uphill battle.

Looking at the NYT reporting on the case, the Twitter equivalent in that case was actually shockingly similar to what Musk claimed has happened;

The judge seemed to agree. He said in his opinion that Tyson officials had been briefed on IBP's financial problems. The merger agreement even included an acknowledgment that Tyson would shoulder certain risks stemming from IBP's financial difficulties. And ''by their own admission,'' the judge wrote, ''Tyson representatives had had red flags waved at them'' as part of the due diligence for the deal.

Like it will be difficult for Musk's legal team to argue they weren't aware of a potential bot issue, Elon made getting rid of them a key feature of his plan to make Twitter profitable.

www.nytimes.com

Judge Rules That Tyson Must Complete Takeover of IBP (Published 2001)

Judge Leo E Strine Jr rules that Tyson Foods Inc has no legal grounds for withdrawing its $3.2 billion offer to buy IBP Inc, largest US beef packer, and orders that acquisition be completed; Tyson protests that hidden financial troubles at IBP are sufficient to scuttle deal; bad blood taints...

My guess is Twitter probably feels it has a strong legal case based on this precedent.
 
Oct 26, 2017
20,440
So basically, if I'm reading this right, Musk will still probably end up owning Twitter, even if the price is different, even if Twitter basically has to force it to happen due to how far along it's gone in the process? That sucks if that's the case

Yeah in like 15 years which like... I'm not worried as much about 15 years from now.
 

SSF1991

Member
Jun 19, 2018
3,263
Hopefully this asshole doesn't end up owning Twitter, even if he loses the lawsuit. I'm worried he may end up being forced to, whether he wants to or not.
 
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