Mike & Van
Banned troll
I'm puzzled how it makes any profit at all, but then many web based things puzzle me, especially bit coin.
Twitter bought by Elon Musk
- Thread starter messengerman
- Start date
andyoz
pfm Member
Same crap happened in the dot com boom/bust
I remember the mental AOL Time Warner deal at the peak of it.
Lads get super rich quickly and it all goes to their head. This all feels similar to me. I wouldn't be surprised if Elon is banged up for 'something' in the future if he gets on the wrong side of the government (that actually
'need' him around at the moment but that may not last).
One word .. Hubris
I remember the mental AOL Time Warner deal at the peak of it.
Lads get super rich quickly and it all goes to their head. This all feels similar to me. I wouldn't be surprised if Elon is banged up for 'something' in the future if he gets on the wrong side of the government (that actually
'need' him around at the moment but that may not last).
One word .. Hubris
Tony L
Administrator
A lawsuit against the Musk takeover (Yahoo Finance).
laughingboy
pfm Member
If you'd asked me who might be motivated to prevent Musk from reinstating Trump's Twitter MAGAphone ahead of the 2024 elections, I'd never have guessed the Orlando Police pension fund, that's for sure (Guardian). Ain't life strange?
Enfield boy
pfm Member
Two birds, one stone?
Tony L
Administrator
I’ve seen some suggesting that he might be deliberately tanking Tesla in order to buy-up more stock (he currently has 17%), i.e. the whole Twitter thing may be a troll/manipulation. I suspect that is right out there in conspiracy theory territory though, but the whole point of Elon Musk is you can’t really predict him, so who knows? I’d be very happy if he walks away from Twitter for whatever reason.
Enfield boy
pfm Member
What happened to his promise to eradicate hunger?
Tony L
Administrator
Probably too easy and boring.
kensalriser
pfm Member
I suspect Musk is quite far right, as I intimated in the thread I initiated about him not long back. His far right junk is certainly starting to become more visible; Tesla is fighting more lawsuits for racial discrimination having already lost several, and now he thinks Twitter is controlled by the far left. He has quite a lot of form for stock manipulation so who knows what his real motives are.
Tony L
Administrator
So, today Elon Musk says “Twitter deal temporarily on hold”, and this happens (Bloomberg on Twitter).
PS Ahem, market manipulation, ahem… never mind, no one will notice.
PS Ahem, market manipulation, ahem… never mind, no one will notice.
Tony L
Administrator
Musk has apparently announced he’s now voting Republican (Twitter). Given Tesla owners are overwhelmingly green libs and no Republican redneck would ever be seen dead in anything other than a gas guzzling truck or SUV I’m even more convinced he’s market manipulating. It will be interesting to see what happens to share prices as this one settles in.
Dave H.
Revolutionary relativist
Surely even if this pushes the Twitter valuation down, it’ll crash his own stocks more? And with question marks over whether he can actually afford the deal as is, it seems a risky strategy.
While an ‘aha, got you!’ wheeze can not be ruled out, it seems at least possible to me that he really is turning into the Bond villain he always showed the potential to become.
Tony L
Administrator
It wouldn’t surprise me if that was the intent, i.e. deliberately knock Tesla down so he can buy back more stock in it. He currently only has a 17% stake.
His recent actions of stating he’ll readmit Trump to Twitter, make the platform “free speech” (pitched in the far-right meaning of the term), and even coming out as switching to being a Republican voter (immediately after another far-right mass shooting!) seems a very conscious attempt to alienate the overwhelmingly green “woke liberal” Tesla customer base. If someone actively wanted to crash those stocks I can’t imagine a better strategy than what he is doing right now.
There is something that really doesn’t ring true about the Twitter ‘buy out’ too. He is already in breach of some terms and conditions of the agreement, plus he seems to be digging up various caveats himself. He’s obviously a very bright bloke and I don’t understand what is going on as I’m not, but I don’t trust any of it!
PS The one hour documentary on C4 last night was interesting and only reinforces my belief he’s playing an entirely different game here, but what exactly I don’t know.
Tony L
Administrator
The ‘Elongate’ scandal starts here (Business Insider).
Sue Pertwee-Tyr
Accuphase all the way down
Musk rat.
Tony L
Administrator
I’m struggling to find a credible source rather than a lot of gossip, but it is well worth having a Google & Twitter search on ‘Musk Tesla margin-loan’. I’m getting the picture he’s really in the shit over the Twitter thing as he borrowed very heavily against his Tesla holdings conditional on that stock remaining above a given level (allegedly $740), which it has now tanked well below. He’s not got a free exit route from Twitter either as there would be very high financial penalties for walking away (which I obviously hope he does). It appears he’s considering selling some selling SpaceX holdings to bail himself out.
A lot of this just doesn’t add up, but it is pretty clear this is where the game is even if we don’t understand what the rules are yet. I’m certain a lot of his behaviour is trying to manipulate markets, but I don’t understand why he’s apparently been trying to crash Tesla stock by alienating its overwhelmingly green liberal customer base if he’s using it as a margin loan? Puzzling stuff.
A lot of this just doesn’t add up, but it is pretty clear this is where the game is even if we don’t understand what the rules are yet. I’m certain a lot of his behaviour is trying to manipulate markets, but I don’t understand why he’s apparently been trying to crash Tesla stock by alienating its overwhelmingly green liberal customer base if he’s using it as a margin loan? Puzzling stuff.
DonQuixote99
pfm Member
Realizing he's alienating the Telsa customer base would require him to empathize with said base. I don't think empathy is big among his talents.
Tony L
Administrator
One would hope an alleged genius grade multi-billionaire would have hired an empathy team for just this purpose. By saying that a lot of what he is saying and doing of late does suggest he’s jumped a fair distance from any mental rails. It does appear that reality might be starting to catch up with him, and I’m sure a lot of the political stuff is a reaction against the Democrats expectation that he pay tax and respect workers rights, which are the two things on this planet he really doesn’t seem to like. The C4 documentary a few days ago exposed the Tesla factory as a pretty horrible place to work with ongoing class action suits from ex-workers regarding racism, bullying etc. Some hefty payouts too.
PS As someone pointed out on Twitter earlier arguing for “free speech” is fine right up to the point where you pay someone $250k to keep quiet that you assaulted them whilst showing them your dick...