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Elon Musk Officially Purchases Twitter, Takes Company Private


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1 hour ago, Elias Pettersson said:

It wasn't poorly thought out, it was a legit way to make extra revenue for the company.  If people want to abuse the system then there is nothing you can do other than to make changes.  There are lots of websites promoting pump and dump schemes, ponzi schemes, and ways of manipulating stocks.

Think about Twitter. They hired almost 2500 people between 2019 til they sold.

Did they pump up the value and the Musk bought it very expensive?

Or is it something else happening?

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1 hour ago, thedestroyerofworlds said:

So you can still get the $8 verification?  Or, was it suspended almost right away because it was flawed.   In other words, poorly thought out.

I believe you can still get verified the way it was done before, the $8 option has been scrapped until further review.  This is not the first business that has tried to generate extra revenues and had to scrap plans rather quickly.  Happens alot in business.  Whether it was poorly thought out is up for debate because until you roll something out you don't know for sure what is going to happen in real life until it happens.

 

Same with the Canucks.  Trading a first round pick, a second round pick and $12 million in cap space for OEL and Garland seemed like a good idea at the time for most people.  Obviously that didn't work out.  Was it poorly thought out?  Only Benning really knows...

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1 hour ago, RUPERTKBD said:

I hear you, but that one doesn't really resonate with me.

 

I live in a hick town. My "commute" is 5 minutes....if traffic is heavy....B)

 

In fact, at the height of Covid, I was still coming into the office. My computer set up here is far superior to what I have at home and working from the office meant I didn't need to use a remote connection, like RDS or VPN.

 

There were one of two other employees doing the same, but we were spread out. I could go an entire day without seeing another employee. It was awesome....

I heard Prince Rupert is a lovely place to visit.  Not that I would ever go, but maybe for others they would enjoy themselves.  I'm assuming the winters are not that enjoyable though...

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40 minutes ago, Timråfan said:

Think about Twitter. They hired almost 2500 people between 2019 til they sold.

Did they pump up the value and the Musk bought it very expensive?

Or is it something else happening?

Yes, I think he overpaid by like $40 billion or so.  It was never making money, not enough revenue streams.  The $8 verification was a good idea in theory and would have helped but then you have all the idiots that abuse the system and then people like Kathy Griffin impersonating the owner.  So, it didn't go over well.  Back to the drawing board I guess.

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25 minutes ago, Elias Pettersson said:

I believe you can still get verified the way it was done before, the $8 option has been scrapped until further review.  This is not the first business that has tried to generate extra revenues and had to scrap plans rather quickly.  Happens alot in business.  Whether it was poorly thought out is up for debate because until you roll something out you don't know for sure what is going to happen in real life until it happens.

 

Same with the Canucks.  Trading a first round pick, a second round pick and $12 million in cap space for OEL and Garland seemed like a good idea at the time for most people.  Obviously that didn't work out.  Was it poorly thought out?  Only Benning really knows...

Musk was given a 7-page internal document outlining all the bad things that could happen if he rolled out the $8 verification option, he rolled it out anyhow, and all those bad things happened. What he did was objectively poorly thought out. He's a narcissistic moron when it comes to running a social media company.

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27 minutes ago, Elias Pettersson said:

I heard Prince Rupert is a lovely place to visit.  Not that I would ever go, but maybe for others they would enjoy themselves.  I'm assuming the winters are not that enjoyable though...

Depends. If you like lots of snow, then it's not really for you. We never really get all that cold, either. -10 or -15 max. However, if we ever get that cold, it's usually sunny as well.

 

Mostly it's around the freezing level, cloudy with rain or wet snow that usually doesn't stick around.

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20 minutes ago, Elias Pettersson said:

Yes, I think he overpaid by like $40 billion or so.  It was never making money, not enough revenue streams.  The $8 verification was a good idea in theory and would have helped but then you have all the idiots that abuse the system and then people like Kathy Griffin impersonating the owner.  So, it didn't go over well.  Back to the drawing board I guess.

IMO he overpaid by about $20-30 Billion. I am 100% positive he regrets buying it and he regrets telling his lawyers to make the deal seller friendly. This was an impulse purchase 100%.

 

As for the $8 for a blue check mark. This was an idiotic idea from the get go. Who in their right mind could not see it would become a free for all for people with bad intentions. All it did was erode the credibility of the platform. When the #1 thing the platform has is it's credibility.

 

Musk is not as smart as he thinks he is. How come we never hear of him having a "right hand man" or any advisors? It's because he doesn't have one/any. Why would he need one if he thinks he's the smartest guy in the room?

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Looks like Twitter have about 2500 employees left. Probably a few less after Elon's new demand. 

 

 

 

Now if they can get all of them into critical roles and adapt fast to it, Twitter should be fine with that headcount. 

 

 

 

If those remaining can't do the critical work on a timely manner, then we have a blue bird down. 

 

 

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50 minutes ago, Bell said:

Did this guy just kill twitter in a week?

If s there a reason why this Musk guy would buy a company (Twitter) bor billions and then stupidly kill it like he’s done?  Maybe it’s a good thing this stupid Twitter is dying anyway?  Let’s get back to news papers and editors. 

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If I was Elon, I'd be making sure things are on the up and up instead of wasting time S$#!posting and mocking Senators.  

 

 

https://www.wsj.com/livecoverage/elizabeth-holmes-sentencing-theranos-trial?mod=hp_lead_pos1&utm_source=reddit.com

 

Elizabeth Holmes Sentenced to More Than 11 Years in Prison: Full Coverage

The founder of the disgraced blood-testing company was ordered to surrender in April and has 14 days to appeal her conviction.

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48 minutes ago, thedestroyerofworlds said:

If I was Elon, I'd be making sure things are on the up and up instead of wasting time S$#!posting and mocking Senators.  

 

 

https://www.wsj.com/livecoverage/elizabeth-holmes-sentencing-theranos-trial?mod=hp_lead_pos1&utm_source=reddit.com

 

Elizabeth Holmes Sentenced to More Than 11 Years in Prison: Full Coverage

The founder of the disgraced blood-testing company was ordered to surrender in April and has 14 days to appeal her conviction.

That would be best case scenario.  Plenty that he's opening himself with fraud, tax evasion, and treason, in addition to whatever labour laws he's violated over the last week.  It's best for everyone involved if he spends the rest of his life in prison.

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We have our new Twitter Freddom of Speech policy.

 

 

I am actually fine with it as I have always maintained that we shouldn't give a megaphone to people's worst thoughts, nonsense and misinformation, etc. just because they have a voice. 

 

Now only question is what is considered hate/negative tweets and if he can implement it properly with his current staffing levels cause the number of employees may be enough o maintain the site but not gonna be enough to implement new robust features in a timely manner. 

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4 hours ago, nuckin_futz said:

IMO he overpaid by about $20-30 Billion. I am 100% positive he regrets buying it and he regrets telling his lawyers to make the deal seller friendly. This was an impulse purchase 100%.

 

As for the $8 for a blue check mark. This was an idiotic idea from the get go. Who in their right mind could not see it would become a free for all for people with bad intentions. All it did was erode the credibility of the platform. When the #1 thing the platform has is it's credibility.

 

Musk is not as smart as he thinks he is. How come we never hear of him having a "right hand man" or any advisors? It's because he doesn't have one/any. Why would he need one if he thinks he's the smartest guy in the room?

If Musk can put a man on Mars then nobody will care what he did with Twitter…

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