Your thoughts on Elon musk?

Did he not offer $44 for it?

Did he not offer $44 for it?

$44 billion total at $54.20 a share...

Personally, I'd only offer $44 total.

$44 billion total at $54.20 a share...

Personally, I'd only offer $44 total.

Im fairly sure your offer wont land on top of the pile.

$44B is a lot of money though. I can think of so many better things to do with it that buy a social media company.

I'm just waiting to see the damage to Tesla stock.
Maybe people will see that hype isn't so valuable.

I wonder if there will be any damage. They seem like two separate things and Tesla models are #16 and #13 best selling vehicles in America right now.

Elon sold $7 billion (with a B) of Tesla stock back in April to buy Twitter. Though Tesla stock did crater right after that. I guess we'll see.

Quote from: MaNaeSWolf on October 12, 2022, 06:08:06 AM

Did he not offer $44 for it?

$44 billion total at $54.20 a share...

Personally, I'd only offer $44 total.

Based.

I wonder if there will be any damage. They seem like two separate things and Tesla models are #16 and #13 best selling vehicles in America right now.

Elon sold $7 billion (with a B) of Tesla stock back in April to buy Twitter. Though Tesla stock did crater right after that. I guess we'll see.

Well checking Google, they peaked at 381.82 on the 4th April and dropped to 209.39 on the 24th of May.
The most significant drop in that period was the 26th of April, where it dropped from 332.67 to 292.14.

But like a good little conman, he is being smart and selling it off in portions instead of all at once.

Quote from: Stash on October 12, 2022, 07:18:11 PM

I wonder if there will be any damage. They seem like two separate things and Tesla models are #16 and #13 best selling vehicles in America right now.

Elon sold $7 billion (with a B) of Tesla stock back in April to buy Twitter. Though Tesla stock did crater right after that. I guess we'll see.

Well checking Google, they peaked at 381.82 on the 4th April and dropped to 209.39 on the 24th of May.
The most significant drop in that period was the 26th of April, where it dropped from 332.67 to 292.14.

But like a good little conman, he is being smart and selling it off in portions instead of all at once.

Yeah, I saw that. He sold billions of stock and it plummeted soon thereafter.

Why he wants twitter is a mystery to me. I never use it because it's a dumpster fire at best. But lots of people do. Unfortunately.

Twitter posted a net loss of $221 million in 2021, an 80% reduction on the $1.1 billion loss it reported in 2020.

Seems like a crap investment.

I wonder if there will be any damage. They seem like two separate things and Tesla models are #16 and #13 best selling vehicles in America right now.

Elon sold $7 billion (with a B) of Tesla stock back in April to buy Twitter. Though Tesla stock did crater right after that. I guess we'll see.

TSLA is still in a giant bubble IMHO.  They have a P/E ratio of about 80 currently.  Most companies are around 6.  Tesla makes some great electric cars.  But most other manufacturers are giving them strong competition.  Quite a few of the things Tesla has been working on haven't worked out but they still have one powerful advantage over their competitors, the supercharger network.  But that's an advantage that probably won't last much longer. 

I think their stock is in trouble.  Maybe not quite an immediate pop but I think it's going to trend down over the next few years.

Yeah, I saw that. He sold billions of stock and it plummeted soon thereafter.

Why he wants twitter is a mystery to me. I never use it because it's a dumpster fire at best. But lots of people do. Unfortunately.

Twitter posted a net loss of $221 million in 2021, an 80% reduction on the $1.1 billion loss it reported in 2020.

Seems like a crap investment.

Well the cynic in me can think of a few reasons, but he clearly isn't doing it for the money from twitter.
It could be that he does actually care about free speech and wants to open the platform up so rational people aren't banned by fascists.

Or it could be that he wants control over what is said on twitter to try and make him money elsewhere, like in crypto or his other companies.

I think it's more likely that he was smoking pot with Joe Rogan and some alt right shitheads and thought he would impress them by buying Twitter.

I think it's more likely that he was smoking pot with Joe Rogan and some alt right shitheads and thought he would impress them by buying Twitter.

LOL yeah I could see that

Well the cynic in me can think of a few reasons, but he clearly isn't doing it for the money from twitter.

Oh, he absolutely thinks he can turn it into a money making machine.  His ego wouldn't let him think anything less.   He must have presented some kind of plan, no matter how half baked, to the banks that are putting in $13B - those guys don't sling that kind of capital around so that Musk can have some fun.  They expect a return on their investment. 

Or it could be that he wants control over what is said on twitter to try and make him money elsewhere, like in crypto or his other companies.

I don't think he's that stupid.

https://www.washingtonpost.com/technology/2022/10/20/musk-twitter-acquisition-staff-cuts/

Elon Musk's genius plan to turn twitter around, fire 75% of it's employees.  I assume he'll supplement the remaining workforce with Teslabots.

Twitter will be self driving.

I hope he fires the political extremists that work at Twitter if he buys it.

I suppose it depends on who Musk considers to be an extremist.

Major cuts were planned before Elon Musk offered to buy Twitter. It's even in the Washington Post article!

Human resources staff at Twitter have told employees that they aren’t planning for mass layoffs, but documents show that extensive plans to push out staff and cut down on infrastructure costs were already in place before Musk offered to buy the company. Musk would then have built on those plans by first targeting low performers — people the company’s human resources system designated as “not on track” or receiving below a 3 out of 5 rating — before moving to other phases of downsizing.

I just hope he fires some people at the top, like Vijaya Gadde and others like her,  who have set Twitter down this weird path.

Ah.  That's what I get for not reading the entire thing.

https://www.reuters.com/markets/us/us-weighs-security-review-musks-ventures-including-twitter-deal-bloomberg-news-2022-10-21/

Another wrinkle in the plan. 

What I don't understand about the Biden admin getting involved is that Prince Alwaleed bin Talal has been a major shareholder since 2011. Why are they just now thinking about using him as an excuse to "trigger a CFIUS review"?  Is it because Elon talks about letting the Donald have his acct back? lol

Also, I know Musk says dumb shit and gets pissy with people, but why is SpaceX expected to continue providing Starlink internet service without getting paid?

What I don't understand about the Biden admin getting involved is that Prince Alwaleed bin Talal has been a major shareholder since 2011. Why are they just now thinking about using him as an excuse to "trigger a CFIUS review"?  Is it because Elon talks about letting the Donald have his acct back? lol

Also, I know Musk says dumb shit and gets pissy with people, but why is SpaceX expected to continue providing Starlink internet service without getting paid?

From what I have read he is getting paid.
He apparently just doesn't know how to run an ISP.

The Starlink situation is... odd to say the least. 

First off the numbers don't make any sense.  https://www.washingtonpost.com/politics/2022/04/08/us-quietly-paying-millions-send-starlink-terminals-ukraine-contrary-spacexs-claims/  The initial set of terminals that were sent to Ukraine, part of it was donated by SpaceX and part of it was paid for by the government.  But the government paid $1500 per terminals which SpaceX will sell to anyone for $600.  There's some 25000 terminals in Ukraine now.  About 85% of those were bought by Poland, the US, Ukraine etc. https://www.engadget.com/spacex-starlink-ukraine-funding-defense-department-135027598.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAFWTr3n4KJDFbU1u2iFlB-FGE8fbUc05lfEZeoY9CUqZ3NfLDvP8zq_wkDSgu_VQ1tvZPOly5GUr02kVnXBbWj5p8W-djyUlwvglm2QKE4BM2jeThDkdyRRzw5C4B_YI7aAPU_DwATOh5JFW3fhpbPBAn8vIm4nz_BPQnSgNkS3G

The numbers on the service costs are hard to figure out.  They charge about $100 a month for service.  But in Ukraine they value it at $4,500 a month.  https://techcrunch.com/2022/10/15/starlink-isnt-a-charity-but-the-ukraine-war-isnt-a-business-opportunity/

At this point I don't even know how much of the bill SpaceX is footing for this.  I would take Elon's claims on this with a grain of salt.

On top of all of this, I don't know why SpaceX is all that important here.  They didn't invent satellite communications.  NATO already has a hardened satellite network just for situations like this.

Regarding a CFIUS review, this is just speculation but I think it might have more to do with the report of Elon speaking to Vladamir Putin directly regarding Ukraine recently.  It could also be a whole lot of nothing since I don't think the government has really announced it yet.

He's a conman. He is doing whatever he can to try and get money.

Elon Musk is not all that different to Trump. Yeich

It's like the legend of the $600 hammer.

He's literally carrying a sink into Twitter. idk what that means! https://twitter.com/elonmusk/status/1585341984679469056?s=20&t=ecjKsJGbA--vrrejsLpzhg  I'm sure the Washington Post will explain it all. lol

(OH, I think it means the takeover is sinking in)

That's quite a bit of effort for a mediocre joke.  Or maybe he's installing a sink.

The ensuing drama should be interesting.  I wonder if he's going to follow through with firing most of the staff.

He appears to be making a joke about "let that sink in"

Apparently a bunch of the staff are doing the "YOU CAN'T FIRE ME, I QUIT" thing. Maybe they will ruin Google, now.

Apparently a bunch of the staff are doing the "YOU CAN'T FIRE ME, I QUIT" thing. Maybe they will ruin Google, now.

I’m guessing they won’t “fired”, they will get laid off. If you you quit, no unemployment bene’s, if you get laid off, you get unemployment benes including cobra. Wiser to ride it out and get laid off.