1. #2961
    The Unstoppable Force Orange Joe's Avatar
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    Quote Originally Posted by Endus View Post
    Organizing is an act. Contacting others to garner greater support is an act. This is why cops can, for example, raid and arrest conspirators plotting to kidnap a State Governor without waiting to catch them in the act itself. If you want a related example.
    They went further than just tweeting. That actually had a plan. They trained for the plan. They had to have a mole on the inside to get enough evidence to do anything. You just provided evidence to my claim not his.
    MMO-Champ the place where calling out trolls get you into more trouble than trolling.

  2. #2962
    The Undying Breccia's Avatar
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    Twitter is no longer broadcasting in high Fidelity.

    Fidelity slashed its carrying value of Twitter by 56% during the first month of Elon Musk's ownership, according to a new disclosure.

    Fidelity was among the group of outside investors that helped Musk finance his $44 billion takeover of the social media site, by purchasing equity.

    It holds the Twitter shares in several of its mutual funds, under the name "X Holdings I Inc."

    Fidelity's Contrafund valued its Twitter shares at $53.47 million on Oct. 31, which was just days after Musk's deal closed. It then revalued the shares at around $23.46 million as of Nov. 30, representing a 56% decline.
    To be fair:

    Fidelity reports the same Twitter valuation cut in other mutual fund disclosures, including for its Blue Chip Growth Fund.

    Fidelity is a Twitter shareholder, but doesn't necessarily have proprietary knowledge about its business performance. Instead, the revaluation may be based, at least in part, on broader tech equity declines.
    Regardless of the reason of the drop, it is still a drop. Now, I don't know for sure that Fidelity thought Twitter was worth $44 billion when they helped Musk buy it for $44 billion...it'd seem strange if they didn't, but it's technically not a mandate that they did. Still, using that as a starting point and my upper-level math degree, 44% of $44 billion is not quite $20 billion.

    The group that helped Musk buy Twitter, now says that it lost $24 billion in a single month of Musk ownership. Even if Musk isn't responsible, that's a lot to lose in a single month.

    To put this in perspective, $24 billion is the GDP of Georgia.

    "The country or the state?"

    Country, the state has a GDP like $600 billion and change.

    To put it another way: $24 billion would let Greece pay off the European Central Bank. It is a monstrous bath to take in a single month.

  3. #2963
    Quote Originally Posted by NED funded View Post
    Nah, overvaluation of Tesla is just Musk fanboyism. If people like Musk they believe everything he touches turns to gold. Twitter had nothing of the sort, it was just a big tech company waiting for someone to catch that ball.
    I partially disagree, I would say that Tesla is part of the same "big tech" hype as Twitter.

    I'm not saying that it makes sense in valuing a car company that way, and obviously the Musk fanboys played part, but I also very much doubt that Tesla could have gotten that overvalued without a similar overvaluation of "big tech".

    Additionally, both were fueled by low interest rates, which favored unrealistic future growth plans over getting money right now (clearly the adjustment of interest rates have adjusted that).

  4. #2964
    Quote Originally Posted by NED funded View Post
    Nah, overvaluation of Tesla is just Musk fanboyism. If people like Musk they believe everything he touches turns to gold. Twitter had nothing of the sort, it was just a big tech company waiting for someone to catch that ball.
    But Elon Musk is a venture capitalist, he is someone who made his fortune doing these types of deals. He even said himself a few months before that buying twitter was a very bad idea. If you want to use hindsight had he taken a few months to do due diligence like he should have then he would have gotten it at a cheaper price. At the time when he made the bid it was a sensible one considering the stock price, I can't fault him for not timing the market but signing blindly that was utterly idiotic.

  5. #2965
    The Lightbringer bladeXcrasher's Avatar
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    Quote Originally Posted by Draco-Onis View Post
    But Elon Musk is a venture capitalist, he is someone who made his fortune doing these types of deals. He even said himself a few months before that buying twitter was a very bad idea. If you want to use hindsight had he taken a few months to do due diligence like he should have then he would have gotten it at a cheaper price. At the time when he made the bid it was a sensible one considering the stock price, I can't fault him for not timing the market but signing blindly that was utterly idiotic.
    LOL...the dude single handedly sunk Twitter and Tesla stock.

  6. #2966
    Quote Originally Posted by bladeXcrasher View Post
    LOL...the dude single handedly sunk Twitter and Tesla stock.
    Yup mainly he keeps saying he won't sell Tesla stock only to sell more Tesla stock days later. But no one should be under the delusion that Elon will go bankrupt personally he has a platinum parachute due to his birth and he has reached too big to fail status.

  7. #2967
    Quote Originally Posted by Draco-Onis View Post
    But Elon Musk is a venture capitalist, he is someone who made his fortune doing these types of deals. He even said himself a few months before that buying twitter was a very bad idea. If you want to use hindsight had he taken a few months to do due diligence like he should have then he would have gotten it at a cheaper price. At the time when he made the bid it was a sensible one considering the stock price, I can't fault him for not timing the market but signing blindly that was utterly idiotic.
    It's hard to say that he would have gottten a better price if he had done his due dilligence. The main reason his offer was accepted was because of how much he was overpaying. It was never a sensible bid. It wasn't even a serious bid. He didn't do his due dilligence because he didn't think Twitter would be able to force him to go through with his offer. He made an offer of $FuckAround and got stuck paying $FindOut.
    “The biggest communication problem is we do not listen to understand. We listen to reply,” Stephen Covey.

  8. #2968
    The Undying Breccia's Avatar
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    Quote Originally Posted by Evil Midnight Bomber View Post
    The main reason his offer was accepted was because of how much he was overpaying.
    Once he signed that contract, he wasn't going to be let out of it. Not in a Delaware court, that's for sure.

  9. #2969
    Quote Originally Posted by Breccia View Post
    Once he signed that contract, he wasn't going to be let out of it. Not in a Delaware court, that's for sure.
    Sure, for humans. But he's the Great and Powerful Musk. What right does any Mortal Court, much less a Delaware Court, have to pass judgement upon him?
    “The biggest communication problem is we do not listen to understand. We listen to reply,” Stephen Covey.

  10. #2970
    The Undying Breccia's Avatar
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    Quote Originally Posted by Evil Midnight Bomber View Post
    What right does any Mortal Court, much less a Delaware Court, have to pass judgement upon him?
    They looked at the man behind the curtain, apparently.

  11. #2971
    Quote Originally Posted by breccia View Post
    they looked at the man behind the curtain, apparently.
    I told them not to do that!
    “The biggest communication problem is we do not listen to understand. We listen to reply,” Stephen Covey.

  12. #2972
    Ya'll hungry? The next nothingburger is coming later this week. It's called the #FauciFiles.

    BTW, it sounds like we're getting very close to doxxing.

  13. #2973
    The Undying Breccia's Avatar
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    Quote Originally Posted by fwc577 View Post
    The next nothingburger is coming later this week. It's called the #FauciFiles.
    I can't wait for the response. "Fauci lied about COVID while working for Trump who lied about COVID! We should arrest Fauci and re-elect Trump!"

  14. #2974
    Quote Originally Posted by Evil Midnight Bomber View Post
    It's hard to say that he would have gottten a better price if he had done his due dilligence. The main reason his offer was accepted was because of how much he was overpaying. It was never a sensible bid. It wasn't even a serious bid. He didn't do his due dilligence because he didn't think Twitter would be able to force him to go through with his offer. He made an offer of $FuckAround and got stuck paying $FindOut.
    Maybe but proper due diligence takes months to do and the stock would have tanked by then, Twitter also looked for other buyers no one wanted it. Elon had all the leverage in the world he just gave it away and walked into this, my guess is he drank too much of his Kool-aid thinking everything he touches will turn to gold.

  15. #2975
    Reforged Gone Wrong The Stormbringer's Avatar
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    Quote Originally Posted by Breccia View Post
    I can't wait for the response. "Fauci lied about COVID while working for Trump who lied about COVID! We should arrest Fauci and re-elect Trump!"
    Something something not working for Trump something something Deep State something!

  16. #2976
    Quote Originally Posted by Draco-Onis View Post
    Maybe but proper due diligence takes months to do and the stock would have tanked by then, Twitter also looked for other buyers no one wanted it. Elon had all the leverage in the world he just gave it away and walked into this, my guess is he drank too much of his Kool-aid thinking everything he touches will turn to gold.
    You don't know that Twitter's stock would have tanked. This is a whole butterfly effect situation.
    “The biggest communication problem is we do not listen to understand. We listen to reply,” Stephen Covey.

  17. #2977
    Quote Originally Posted by Evil Midnight Bomber View Post
    You don't know that Twitter's stock would have tanked. This is a whole butterfly effect situation.
    correct that is hindsight however due diligence would mean he would have gone into the company with a plan because he would know it better. If anything he would have reasons to lower his bid being familiar with the pitfalls of the company not known to the general public.

  18. #2978
    Quote Originally Posted by Draco-Onis View Post
    correct that is hindsight however due diligence would mean he would have gone into the company with a plan because he would know it better. If anything he would have reasons to lower his bid being familiar with the pitfalls of the company not known to the general public.
    You're making more assumptions here.

    The kind of person the neglects to do due diligence is not the type of person that goes in with a plan. Everything he's done at twitter supports this. He makes decisions one day and reverses them the next. He makes major decisions based on poll results... as long as he agrees with the results.

    Also, as stated earlier, the reason that twitter accepted his offer was because he was offering a premium. If he lowered his offer, they'd be less inclined to accept it.

    I'm inclined to believe that Musk never actually intended to buy Twitter in the first place and that's why he didn't do his due diligence. He thought he could just say "I changed my mind" and walk away. Which would reinforce my statement that he isn't the kind of person that looks before he leaps.

    Now, I can't state that for a fact...I don't know the man and I'm not qualified to analyze his psyche... I'm just basing my opinion on his actions.
    “The biggest communication problem is we do not listen to understand. We listen to reply,” Stephen Covey.

  19. #2979
    Quote Originally Posted by Evil Midnight Bomber View Post
    You're making more assumptions here.

    The kind of person the neglects to do due diligence is not the type of person that goes in with a plan. Everything he's done at twitter supports this. He makes decisions one day and reverses them the next. He makes major decisions based on poll results... as long as he agrees with the results.

    Also, as stated earlier, the reason that twitter accepted his offer was because he was offering a premium. If he lowered his offer, they'd be less inclined to accept it.

    I'm inclined to believe that Musk never actually intended to buy Twitter in the first place and that's why he didn't do his due diligence. He thought he could just say "I changed my mind" and walk away. Which would reinforce my statement that he isn't the kind of person that looks before he leaps.

    Now, I can't state that for a fact...I don't know the man and I'm not qualified to analyze his psyche... I'm just basing my opinion on his actions.
    While I agree with you it kind of clashes with his previous actions it's very possible that Elon's lost control of his ego or there's a serious problem. I don't think he got to where he is by being the complete moron he is being now so this might just be a billionaire's version of a mid life crisis. As for Twitter I doubt they would decline the offer you have to remember that Twitter has been desperate for an out for quite some time now especially the founders. They looked really hard for an alternative buyer and no one was remotely interested.

  20. #2980
    Quote Originally Posted by Evil Midnight Bomber View Post
    You don't know that Twitter's stock would have tanked. This is a whole butterfly effect situation.
    Was the company not making losses year after year? You can only sustain valuation on wishful thinking for so long.

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