Stocks - The Best Buys 2

[iggy_oi]

Originally Posted by Table 5

Looks like he's joining the board.

https://twitter.com/user/status/1511324719349473284

I've grown to like Elon. I mean yes he's an egomaniac, his cult is often insufferable, and lot of his ventures feel downright stupid (Boring Co.!).... but he's a man of action, with big ideas, not afraid to say what's on his mind.

I'll take him over lizards like Zuckerberg and Bezos anyday.

Kinda easy to take action on a lot of things when you’re a multi billionaire, but let’s not pretend Musk is somehow ethically superior or less hypocritical than the other two.

[photon]

Joining the board is what they gave him so he doesn't buy more stocks.

Elon Musk is joining Twitter's board of directors in a deal that prohibits him from buying more than 14.9 percent of the company's stock, Twitter announced today. The news of Musk joining the board comes one day after the Tesla and SpaceX CEO revealed that he had purchased 9.2 percent of Twitter shares.

...


Musk's agreement to join the board prevents him from taking a controlling stake in Twitter. "For so long as Mr. Musk is serving on the Board and for 90 days thereafter, Mr. Musk will not, either alone or as a member of a group, become the beneficial owner of more than 14.9 percent of the Company's common stock outstanding at such time, including for these purposes economic exposure through derivative securities, swaps, or hedging transactions," Twitter wrote in a Securities and Exchange Commission filing submitted today.

https://arstechnica.com/tech-policy/...n-edit-button/

[Table 5]

Originally Posted by iggy_oi

Kinda easy to take action on a lot of things when you’re a multi billionaire, but let’s not pretend Musk is somehow ethically superior or less hypocritical than the other two.

I didn't say he's ethically superior, I just said I like him more than the other two. None of these guys are what anyone would call decent people (as good as they are at what they do, nobody gets to their level without being ruthless dicks along the way). Although if we're comparing their overall impact, I think Facebook and Amazon have been absolutely cancers on our society in many ways...not sure you can say that about any of Elon's ventures.

And yeah, more money = more opportunity to do what you want. News at 11.

[iggy_oi]

Originally Posted by Table 5

Although if we're comparing their overall impact, I think Facebook and Amazon have been absolutely cancers on our society in many ways...not sure you can say that about any of Elon's ventures.

Depends how you look at it, his labour relations tactics are pretty hypocritical for someone complaining that Twitter of all things are going against the fundamental principles of a democracy. I’ll leave it at that.

[Azure]

Yeah, bold move. He calls himself a free speech absolutionist, so we'll see how that plays out.

Stock is up nicely. If it makes him more money to build SpaceX & Tesla, I'd be pretty happy.

[Krovikan]

Originally Posted by Table 5

I didn't say he's ethically superior, I just said I like him more than the other two. None of these guys are what anyone would call decent people (as good as they are at what they do, nobody gets to their level without being ruthless dicks along the way). Although if we're comparing their overall impact, I think Facebook and Amazon have been absolutely cancers on our society in many ways...not sure you can say that about any of Elon's ventures.

And yeah, more money = more opportunity to do what you want. News at 11.

I personally think Zuck is the least objectionable of the three, and that is putting the bar so low we had to dig a hole to bury it and cover it back over.

[Fuzz]

Originally Posted by Azure

Yeah, bold move. He calls himself a free speech absolutionist, so we'll see how that plays out.

Stock is up nicely. If it makes him more money to build SpaceX & Tesla, I'd be pretty happy.

He's probably still cranky about being sued for tweeting about "pedo guy". Free speech!

[Table 5]

It was speculated, but I guess now we can confirm why he didn't accept the board seat.

Elon Musk has made an offer to buy Twitter.

https://twitter.com/user/status/1514564966564651008

[Slava]

Originally Posted by Table 5

It was speculated, but I guess now we can confirm why he didn't accept the board seat.

Elon Musk has made an offer to buy Twitter.

https://twitter.com/user/status/1514564966564651008

As if he didn't offer $69/share!

[Table 5]

Sadly, just a boring $54.20. $69 would've been nice.

[Fuzz]

Not sure Musk owning Twitter would be an improvement for society...

[burn_this_city]

Market doesn't seem to believe it will happen. He's not my first choice for a plutocrat owning an organ of democratic discourse.

[bizaro86]

Originally Posted by burn_this_city

Market doesn't seem to believe it will happen. He's not my first choice for a plutocrat owning an organ of democratic discourse.

You're more of a "Bezos buying the Washington Post" kind of guy?

Seriously though, I think Twitter could use some Musk induced urgency. They JUST added the ability to search your DMs after being asked for it for years.

[burn_this_city]

Originally Posted by bizaro86

You're more of a "Bezos buying the Washington Post" kind of guy?

I don't like people with money having immense power over public opinion and politics.

[Table 5]

Originally Posted by burn_this_city

I don't like people with money having immense power over public opinion and politics.

When this was brought up before about social media, many pulled the old "it's a private company, they set the rules" argument. It seems like people only get uncomfortable when it's not their side in charge. I agree with you though, these social platforms are too big and influential now to be in the hands of one person/company, no matter who it is.

I'm a bit skeptical if it even happens. From what it sounds like, he'd have to sell about a 1/3rd of his Tesla share just to afford it. Although would be a good excuse to cash in on Tesla at a high after the last couple of years.

[Table 5]

One thing to keep in mind is that we probably all assume Twitter is bigger than it really is, but when you look at the monthly users, it has less users than Pinterest, and just above Reddit and...Quora?



4 out of the Top 5 are owned by the same company, Meta. If immense power by one voice is a concern (and it should be, no matter who), I think that should be much more of an issue than Musk buying #15.

[Krovikan]

The issue I see with the buyout is that Musk is being sued and under investigation for his stock purchases of Twitter; it seems like he broke the law. Even if they accept, this seems like a no brainer for the courts to stop.

[Fuzz]

The price isn't even that great. It's been as high as $73 a year ago, and sat in the 60's most of 2021. $54.20 is above where it is now, but it's not all that strong an offer.

[bizaro86]

Originally Posted by Krovikan

The issue I see with the buyout is that Musk is being sued and under investigation for his stock purchases of Twitter; it seems like he broke the law. Even if they accept, this seems like a no brainer for the courts to stop.

Literally every merger and takeover in the US generates a shareholder lawsuit. The firms that do them hold up deals in exchange for settlements that get paid as legal fees. It's basically protection money.

I'm not saying Musk did or does everything right (his 'funding secured' was absolutely a securities violation, imo.

But if shareholders accept the deal and he comes up with the money this will close, imo.

[GGG]

Originally Posted by Table 5

When this was brought up before about social media, many pulled the old "it's a private company, they set the rules" argument. It seems like people only get uncomfortable when it's not their side in charge. I agree with you though, these social platforms are too big and influential now to be in the hands of one person/company, no matter who it is.

I'm a bit skeptical if it even happens. From what it sounds like, he'd have to sell about a 1/3rd of his Tesla share just to afford it. Although would be a good excuse to cash in on Tesla at a high after the last couple of years.

He doesn’t necessarily have to sell Tesla, Just use it as collateral for a loan to purchase twitter. Now what combination of collateralized debt from Tesla, collateralized debt on twitter, and cash he would use is wide open.