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Elon Musk to buy Twitter


Rich
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https://techcrunch.com/2022/04/14/elon-musk-offers-to-buy-twitter-for-43-billion/

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The Twitter and Elon Musk saga is far from over as Elon Musk has made an offer to buy Twitter in an SEC filing. The billionaire has said he is willing to pay $54.20 per share to buy 100% of the company. It would be an all cash offer and would value the social network at $43.4 billion.

“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” Elon Musk wrote in an email to Bret Taylor, Twitter’s chairman of the board (and Salesforce co-chief executive). The email is reproduced in today’s SEC filing. “However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”

“As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” he added.

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8 minutes ago, Wideleft said:

 

 

It is an interesting article, but also brings out the larger question of who should actually make the decisions on what is allowed and what is not on these platforms.    There is no precedent for the reach and impact that social media has and I don't think we have at all figured out as a society how to deal with its impact.

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40 minutes ago, Rich said:

It is an interesting article, but also brings out the larger question of who should actually make the decisions on what is allowed and what is not on these platforms.    There is no precedent for the reach and impact that social media has and I don't think we have at all figured out as a society how to deal with its impact.

Unless we nationalize social media, it comes down to whatever the owners want. People will leave if they don't like it. 

Elon is "free speech" proponent but only he is allowed to have this freedom. He's a bully. 

 

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47 minutes ago, JCon said:

Unless we nationalize social media, it comes down to whatever the owners want. People will leave if they don't like it. 

Elon is "free speech" proponent but only he is allowed to have this freedom. He's a bully. 

 

Not claiming to have the answer to Twitter, not even saying Musk should buy it, or would do a better job at it.  I don't think anyone can (including the state).  Moderating a board like this, which is really a relatively low effort most of the time, is still a huge pain in the ass, and for the most part thankless.  No matter what you do or don't do, there are people who aren't happy and complain, and think you are wrong.  I couldn't imagine trying to come up with the rules and algorithms to try and moderate something like Twitter.  

Humans aren't evolved to have the ability to have faceless, anonymous communication with so many people that Twitter brings.  

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19 minutes ago, Rich said:

Not claiming to have the answer to Twitter, not even saying Musk should buy it, or would do a better job at it.  I don't think anyone can (including the state).  Moderating a board like this, which is really a relatively low effort most of the time, is still a huge pain in the ass, and for the most part thankless.  No matter what you do or don't do, there are people who aren't happy and complain, and think you are wrong.  I couldn't imagine trying to come up with the rules and algorithms to try and moderate something like Twitter.  

Humans aren't evolved to have the ability to have faceless, anonymous communication with so many people that Twitter brings.  

On the CBC One radio program that I like very much, "Tapestry" they explored the phenomena of overloading one's sensorium with excessive inputs to the point where our attention gets dramatically reduced and fractured. 

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1 hour ago, JCon said:

Unless we nationalize social media, it comes down to whatever the owners want. People will leave if they don't like it. 

Elon is "free speech" proponent but only he is allowed to have this freedom. He's a bully. 

 

I don't think he's actually planning to buy Twitter, he's using this news to drive up the value of the stock and then he'll dump what he already bought and say something about owning twitter not being the right thing for him to do now because of X.

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2 minutes ago, Sard said:

I don't think he's actually planning to buy Twitter, he's using this news to drive up the value of the stock and then he'll dump what he already bought and say something about owning twitter not being the right thing for him to do now because of X.

Would that be a form of insider trading?

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1 minute ago, Sard said:

I don't think he's actually planning to buy Twitter, he's using this news to drive up the value of the stock and then he'll dump what he already bought and say something about owning twitter not being the right thing for him to do now because of X.

Yup and to avoid the SEC coming after him. He's going to dump his stock and cry to the incels how unfair everything is for him. 

His offer was below the 12 month high. 

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54 minutes ago, Rich said:

Not claiming to have the answer to Twitter, not even saying Musk should buy it, or would do a better job at it.  I don't think anyone can (including the state).  Moderating a board like this, which is really a relatively low effort most of the time, is still a huge pain in the ass, and for the most part thankless.  No matter what you do or don't do, there are people who aren't happy and complain, and think you are wrong.  I couldn't imagine trying to come up with the rules and algorithms to try and moderate something like Twitter.  

Humans aren't evolved to have the ability to have faceless, anonymous communication with so many people that Twitter brings.  

I for one thank you and appreciate your efforts and graciousness to host the lot of us. 

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I don't think it is insider trading because he is doing it all very publicly.  So there is no inside information he is using to buy / sell.

If he is doing this just to sell after the stock increases, it could be market manipulation, for which the SEC could still fine him if they can prove it.

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20 minutes ago, Sard said:

I don't think he's actually planning to buy Twitter, he's using this news to drive up the value of the stock and then he'll dump what he already bought and say something about owning twitter not being the right thing for him to do now because of X.

Is that from First Ring Daily?

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1 hour ago, FrostyWinnipeg said:

Is that from First Ring Daily?

I don't know what First Ring Daily is...

Based on some of the stuff that he's done lately and things I've read about how he got to where is it, it kind of fits a pattern.

1 hour ago, Rich said:

I don't think it is insider trading because he is doing it all very publicly.  So there is no inside information he is using to buy / sell.

If he is doing this just to sell after the stock increases, it could be market manipulation, for which the SEC could still fine him if they can prove it.

Yes, I believe you are correct that it would be market manipulation rather than insider trading.

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  • 2 weeks later...

Looks like this is really close to happening

https://www.reuters.com/technology/exclusive-twitter-set-accept-musks-best-final-offer-sources-2022-04-25/

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Twitter Inc (TWTR.N) is poised to agree a sale to Elon Musk for around $43 billion in cash, the price the CEO of Tesla has called his "best and final" offer for the social media company, people familiar with the matter said.

Twitter may announce the $54.20-per-share deal later on Monday once its board has met to recommend the transaction to Twitter shareholders, the sources said, adding it was still possible the deal could collapse at the last minute.

...

 

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Once Musk has control, Twitter will eventually turn into the thing Trump was trying to create on his own, but of course was unable. I love Twitter...it's my favourite of all social media platforms, and when curated properly, it's a wonderful resource. But I'm very concerned for its future. 

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I'm not concerned at all. Though i heard he's planning on bringing in some kind of pay wall system. I won't be paying for SM to sell my data.

I also reject the free speech issue around this. Musk didn't stop people from bitching about him, he just doesn't want to hear it. On top of that. Musk doesn't owe anyone free speech. He's a private citizen. Free speech(as it is right now) starts and ends with the government. Anyone complaining about SM kicking them out (this includes musk) is just bitching and being annoying. I'll give Musk credit for doing something about it (whether or not you like what he's doing is another issue) and not just bitching about how unfair it is.

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I like some of the suggestions he has made, including open sourcing the algorithms used to determine feeds for transparency give me a wait and see what he does.  

He thinks he can also get rid of the bots   That I’m not sure is so easy   

 

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As for pricing, it would have to remain free for most people.  Their monetization would have to be around companies / corporations / internet influencers. 
 

Somehow charging based on people who profit off it based on followers and activity. 
 

 

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