It might be better if at this point Musk just walks away and loses his $1B deposit.
That math is off by a factor of one million.That comes out to be 3.3 million each for our 330 million US citizens. Me thinkest it time for a little socialism to kick in. Forget about twitter.... Besides, what would a little old billion mean to Elon Musk? Pocket change? Musk probably has that much in the cushions of his sofa. Someone call Bernie Sanders. This isn't American capitalism, this is just pain WRONG.
That comes out to be 3.3 million each for our 330 million US citizens. Me thinkest it time for a little socialism to kick in. Forget about twitter.... Besides, what would a little old billion mean to Elon Musk? Pocket change? Musk probably has that much in the cushions of his sofa. Someone call Bernie Sanders. This isn't American capitalism, this is just pain WRONG.
Actually Battlefield Earth was a very good read as far as SF novels go. It was a real shame that the movie was so horrendous.Don't forget the sci-fi comedy. Battlefield Earth.
But if he does enough damage they may be in a "damned if they do, damned if they don't" situation.
Musk shooting his mouth off, seems to be causing employee churn and decision turmoil, as well as loss of confidence.
If Musk abandons them, they end up in a worse position than before he started this nonsense with a falling stock.
What an idiot. Obsessing over fake accounts that he had to know actually existed before he made his bid. Well he'll only lose a billion if he backs out and probably 10 billion or more if he actually ends up buying Twitter. Sometimes following your own counsel doesn't always work out so well.
Actually, if he backs out, the Twitter board could sue him for breach of contract...potentially costing him MUCH more than the $1 billion.
Elon Musk can't just walk away from his Twitter deal by paying a $1 billion breakup fee
Musk can't just walk away from buying Twitter, despite a $1 billion reverse break fee attached to the deal.www.cnbc.com
On a galactic scale, that's still pretty close.That math is off by a factor of one million.
Should be a candidate for the return of Mystery Science Theater 3000.Actually Battlefield Earth was a very good read as far as SF novels go. It was a real shame that the movie was so horrendous.
Elon tweets. Wrecks the company and the stock. Elon backs out.And so it begins...
Elon Musk says Twitter legal team told him he violated an NDA
Elon Musk on Saturday tweeted that Twitter's legal team accused him of violating a nondisclosure agreement by revealing that the sample size for the social media platform's checks on automated users was 100.www.cnn.com
How long before Twitter sues Elon Musk when he eventually backs out of the deal?
That will be interesting to see play out. Twitter reported to the SEC that 5% of their users were bots or fake accounts. If that number turns out to be four or five times that amount it has a very real effect on the company's value. I don't see how they could enforce a contract that was based on incorrect or false data, but I'm not an attorney and have never stayed at a Holladay In Express.And so it begins...
Elon Musk says Twitter legal team told him he violated an NDA
Elon Musk on Saturday tweeted that Twitter's legal team accused him of violating a nondisclosure agreement by revealing that the sample size for the social media platform's checks on automated users was 100.www.cnn.com
How long before Twitter sues Elon Musk when he eventually backs out of the deal?
You can definitely enforce a contract based on incorrect data so long as you were upfront about your data being potentially inaccurate, as Twitter was.That will be interesting to see play out. Twitter reported to the SEC that 5% of their users were bots or fake accounts. If that number turns out to be four or five times that amount it has a very real effect on the company's value. I don't see how they could enforce a contract that was based on incorrect or false data, but I'm not an attorney and have never stayed at a Holladay In Express.
He should have been fined a long time ago for his public comments about stock.You can definitely enforce a contract based on incorrect data so long as you were upfront about your data being potentially inaccurate, as Twitter was.
Elon seems to very obviously be trying to tank Twitter’s value to lower the price because again his argument here is either that he’s lying or he’s a moron as if this was a genuine concern he could have, you know, conducted literally any due diligence on the matter before signing the contract.
Disclosure is the key. I have no idea what was or wasn't disclosed, but if they told the SEC one number and Musk another number, they have a problem.You can definitely enforce a contract based on incorrect data so long as you were upfront about your data being potentially inaccurate, as Twitter was.
Elon seems to very obviously be trying to tank Twitter’s value to lower the price because again his argument here is either that he’s lying or he’s a moron as if this was a genuine concern he could have, you know, conducted literally any due diligence on the matter before signing the contract.
They didn’t, it’s all in the public SEC filings. I think this is a pretty transparent bad faith effort on his part to get the price down because not only is Twitter worth a lot less today than it was when he made the offer, his Tesla shares are worth a lot less too.Disclosure is the key. I have no idea what was or wasn't disclosed, but if they told the SEC one number and Musk another number, they have a problem.
I would assume the price offered was based on public information reported by twitter, so that's where I would look for the fly in the ointment.
I know nothing about contracts of this type, I'm just applying disclosure laws I have to deal with, and that could be entirely incorrect.
They didn’t, it’s all in the public SEC filings. I think this is a pretty transparent bad faith effort on his part to get the price down because not only is Twitter worth a lot less today than it was when he made the offer, his Tesla shares are worth a lot less too.
If he backs out Twitter should perma ban his ass.
Wouldn't it hurt more to show the picture of the draft he had to pay to back out? Like daily?To piss him off of course.
He will have a tough time proving Twitter was deliberately supplying fraudulent information that has a material adverse effect on the company’s performance. If he can’t do that Twitter can sue him for breach of contract. The $1 billion breakup fee doesn’t just let him back out if he feels like it, Twitter can force him to buy it.Why? As long as he follows the terms, why can't he back out?