In a stunning, but not surprising, follow up to the prior episode in Elon Musk’s Twitter arc, the Tesla Billionaire’s refusal of a seat on the social network’s board has paved the way for his latest bold move.
Billionaire entrepreneur Elon Musk offered to take Twitter Inc. private in a deal valued at $43 billion, lambasting company management and saying he’s the person who can unlock the “extraordinary potential” of a communication platform used daily by more than 200 million people.
Here’s the SEC filing.
The world’s richest person said he’ll pay $54.20 per share in cash, 38% above the price on April 1, the last trading day before Musk went public with his stake. The social media company’s shares sank 1.1% to $45.33 in New York on Thursday, a sign there’s skepticism that one of the platform’s most outspoken users will succeed in his takeover attempt.
Reading between the lines, if the market’s concern that Uncle Elon won’t buy Twitter drove its stock price down, we can make two informed conclusions:
- Everyone knows Musk is right that Twitter can’t survive without the changes he’s proposing.
- Musk has forced Twitter into a position where the only way for them to survive is to let him buy them.
This is what fans of game theory – and the 1990s animated series Gargoyles – call a Xanatos Gambit.
And indications in the media today are that Twitter will choose to self-destruct rather than cede control a dirty infidel.
Elon Musk expressed doubt about whether he’ll succeed with his $43 billion offer to buy Twitter Inc. in his first public comments about the blockbuster deal.
“I am not sure that I will actually be able to acquire it,” the billionaire entrepreneur said Thursday at a TED event in Vancouver. Musk said he has a Plan B if Twitter rejects his offer, without offering more details.
Word through the grapevine is that Twitter has called an emergency all-hands-on-deck meeting for 5:00 Eastern tonight. And at that meeting, the company’s current leadership will decide their response to Musk’s hostile takeover attempt.
For a near-certainty, the board will decide to reject Musk’s offer.
But keep in mind that a board of directors can’t just do whatever they want. They have a fiduciary responsibility to their shareholders under the law.
If the shareholders believe that rejecting Musk’s buyout isn’t in their financial interests, they can overrule the board, or even appeal to the SEC.
And if it’s found that the board acted against the shareholders’ financial interests for ideological reasons, the board members could get in hot water with the feds.
Which brings us to Elon’s Plan B.
Musk really hasn’t made a big secret of it. If Twitter’s board rejects his offer, he’ll dump his 9% share of the company, which will tank the stock.
He who can destroy a thing, controls a thing.
Make sure to pick goods seats to watch the fireworks.
And don’t give money to people who hate you.
“Make sure to pick goods seats to watch the fireworks.”
Isn’t that what Teddy Spaghetti said before Joe Biden’s inaguration? If Satan wants to keep Twitter, then Musk will learn the hard way that demons are more than a match for wealthy classical liberals. Who do you think owns the feds?
That’s why the most likely outcome is Musk’s hostile takeover failing and Twitter’s stock tanking as a result.
The feds are already signaling their willingness to crash the whole stock market to deal with the inflation crisis. They won’t bail out Twitter like they did the banks.
… Unless the Twitter is to become a de facto Ministry of Truth – in which case it might be ‘bailed out’, but come ‘under new management’, with a board full of glowies.
It’s not like this hasn’t happened before, and that these retarded Silicon Valley companies lost the last time they tried something like that. Just ask Google/Alphabet how their “Don’t be Evil” motto fucked them in a similar lawsuit.
If Teddy and the Legal Legion were the ones trying to blow up Twitter, I’d have a little more faith. For Musk, however, I don’t see this going as well as he expects.
Maybe, but as Brian said in an earlier post, there’s no good in preemptively assuming that an apparent win is actually somehow a loss.
If nothing else, the richest man in the world getting red pilled as to just how fanatical and determined the Death Cult is would be a big win in itself.
The two main factions of the Right tend to fail Sun Tzu 101 in opposite ways.
NormieCons see the Left as well-meaning but dumb.
Dissidents see the Death Cult as fanatical but hyper-competent.
The truth is that the enemy is fanatical and blinded by arrogance. Their perceived omnipotence is based on the fact that they inherited vast wealth and influence from their more capable elders.
Russia and China are well on their way to drastically reducing both.
I don’t see how anyone could conclude the left is either well meaning or competent. Even with the deck stacked in their favor, they get easily distracted by guys like Trump and Musk. If you are panicking over the thought of losing control of a social media company, maybe you really aren’t the great and powerful Oz.
The problem is not that we oversell the left; the problem is that we oversell ourselves. Instead of fasting, sacrificing, and praying for the conversion of all of Christ’s enemies, we choose to make fun of our human persecutors and complain about our problems on the Internet instead of actually solving them. And when we do try to solve them—well, we get stuck with alt ghetto crap that we supoort not for its objective merit, but because we have to.
For perspective, think of all of the degenerate groups that Jim Metokur made fun of, such as furries, gays, transgenders, fandom cultsists, and skeptics. After that, ask yourself about the power that these groups hold today when compared to what they held in 2016. You don’t even need to go that far; just look at Jim’s special on Kraut and Tea, then visit Kraut’s very much alive and well YouTube channel.
Based and Kageroupilled.
“And indications in the media today are that Twitter will choose to self-destruct rather than cede control a dirty infidel.”
Given the Hugo Awards and John C. Wright, always bet the death cultists will choose scorched earth.
“Given the Hugo Awards and John C. Wright, always bet the death cultists will choose scorched earth.”
That was the first thing I thought of. I think Musk really wanted to try to change things there, but now I think he’ll settle for watching it all burn down.
Twitter has chosen the poison pill strategy, so this looks to be accurate.