Elon Update

Elon Musk

If you thought Elon Musk’s Twitter arc was already dramatic, strap in. Because the richest man in the world’s fling with the censorious social media site has taken yet another surprise turn.

Elon Musk has reversed his decision to join Twitter’s board of directors after disclosing he owns more than 9 percent of the social media company, Twitter CEO Parag Agrawal said.

Musk’s appointment to the board was to become official on Saturday pending a background check and formal acceptance, “but Elon shared that same morning that he will no longer be joining the board,” Agrawal wrote in a brief message to the company that he tweeted on Sunday.

“The Board and I had many discussions about Elon joining the board, and with Elon directly. We were excited to collaborate and clear about the risks. We also believed that having Elon as a fiduciary of the company where he, like all board members, has to act in the best interests of the company and all our shareholders, was the best path forward,” he said.

Some are black pilling about Uncle Elon declining to join Twitter’s board of directors. But Agrawal gives the game away by sharing his hope that having Elon on the board would constrain his actions.

Recall that Twitter is the main communication organ for the Death Cult’s rank and file. To a high priest like Agrawal, acting “in the best interests of the company” means purging all thought contrary to the Cult’s mythos.

Musk has not addressed his decision but cheekily tweeted a giggling emoji with a hand covering its mouth early Monday.

The Tesla and SpaceX CEO was invited to join the board one day after disclosing a 9.2 percent stake in Twitter last Monday, becoming its largest shareholder.

It doesn’t take a genius to see what’s going on here. The Twitter cultists flipped out when an infidel like Musk became plurality shareholder. So they hatched a plot to neutralize his influence while assuaging his ego – hence the invitation for him to join the board. If Musk had accepted, he’d have been limited to owning 14.9% of Twitter shares. Then the other big shareholders like Elliott Management and Black Rock could have dogpiled him. They were already signaling their intent to do so.

Musk’s initial decision to join the board struck me as suboptimal, but I kept my eyes on the silver lining that he’d be able to exert some influence. In contrast, his recent refusal is all upside. Not only did he dodge a Death Cult trap, he can now buy as much Twitter stock as he wants – even, say, a 51% outright majority stake.

A flighty billionaire on an ego trip would have taken the board seat. Musk’s moves thus far indicate he plans to buy enough of the company to force change.

Whether or not Uncle Elon succeeds in wresting Twitter back from the Cult remains to be seen. In the meantime, enjoy the ongoing cultists freakout.

 

This story is so full of twists and turns that there was never a point where a single one of my predictions turned out to be correct. This was one of the most creative, exciting, and detailed stories I can ever remember reading.

Read now!

Nethereal - Brian Niemeier

10 Comments

  1. This is hilarious. When I saw this news, it made me wonder about Musk’s intentions. I know very little about the corporate world, but this talk of hostile takeover has me hoping we get to see some heads explode in the near future.

    • Some smart folks are saying it’s all a publicity stunt. But I have to doubt if even Musk would spend $3B on a troll. Others say it was all just to keep his account from being banned, but if that were true, you’d think he’d take the board seat.

      Not guaranteeing Musk is serious about cleaning up Twitter, but he’s doing just what we’d expect if he were.

  2. Chris Lopes

    “Some smart folks are saying it’s all a publicity stunt.”

    Yeah because a guy with his own space program needs a bigger profile.

    “But I have to doubt if even Musk would spend $3B on a troll.”

    I think it may have started that way. He wanted to see how many heads would explode. Now though, the maneuvering to neuter him has him a little pissed off. He may be willing to spend more money to really screw these people.

    • Paul

      If it’s a troll, he won’t end up losing money. Twitter stocks rose and he’ll make a nice pump and dump profit.

  3. Anti-Rationalist

    If nothing else, it is entertaining. Imagine that, something good coming out of Twitter for a change.

    • All that’s missing is my follow up tweet stating I could make America 80% Christian again if I were given control of Hollywood.

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