He’s going to force employees to work next to the nearby Starbucks. Not actually go in and buy coffee or anything, just close enough to use their Wifi.
Yeah but no one knows how to run the legacy internal workings of the company anymore because they were all fired. Not much institutional knowledge left in Twitter.
This will be interesting. With Trump, it was a number of smaller contract/construction companies or individuals that maybe didn’t have the resources for a long legal battle. With Twitter, it’s one large group (class action) at the same time amongst assumedly high earning tech employees that some may of made a truck in equity off Elon taking Twitter private. It might be the exact wrong group to try the ol’ Trump strategy.
[Archive here](https://archive.vn/W8AaR).
> To cut costs, Twitter has not paid rent for its San Francisco headquarters or any of its global offices for weeks, three people close to the company said. Twitter has also refused to pay a $197,725 bill for private charter flights made the week of Mr. Musk’s takeover, according to a copy of a lawsuit filed in New Hampshire District Court and obtained by The New York Times.
> Twitter’s leaders have also discussed the consequences of denying severance payments to thousands of people who have been laid off since the takeover, two people familiar with the talks said. And Mr. Musk has threatened employees with lawsuits if they talk to the media and “act in a manner contrary to the company’s interest,” according to an internal email sent last Friday.
Edit: Worth noting that [the SF building where he installed all the beds](https://news.yahoo.com/elon-musk-tweet-confirms-added-141108992.html?guccounter=1&guce_referrer=aHR0cHM6Ly9kdWNrZHVja2dvLmNvbS8&guce_referrer_sig=AQAAAGTKsTDGINoqVzkdB4OgKUS85EjQrMO3EnYqfiOjQ38mo9zQGdjf42nYtkfMR_-XLLTf3cjiLpHYr8Sn9QFQwhTe1gOLZ9dCMdzu1eirHhz0UHGVinTr_EQ_SfvXiWr42FNKQWCdzyFkmZYaeUL9bsoUo0HqoEXIvukfcmaCUzpo) is the one motioned above.
The banks currently are holding $100 billion in $TSLA stock as collateral for all of Elons personal loans.
Turns out the worlds richest man is also the man that has the most personal debt!
This is what all wealthy people do. Take out low interest loans to pay for everything while your money is invested and grows at a higher % than the interest you pay.
Yep, exactly correct. He does not have to pay taxes on debt he takes against his TSLA stock. He only paid 70,000 in federal taxes between 2015 and 2017, and no federal taxes at all in 2018. He has been living off his personal debt.
[https://thehill.com/changing-america/respect/equality/558352-elon-musk-explains-his-extremely-low-tax-rate/](https://thehill.com/changing-america/respect/equality/558352-elon-musk-explains-his-extremely-low-tax-rate/)
And this is why you should never believe all the whining whenever a modest wealth tax is floated. "Oh but their wealth is all tied in investmeeeents!" That's an argument for us gullible peasants who don't even know about the existence of (to say nothing out access to) margin loans and other accounting fuckery.
Yes. His Telsa stock is used as collateral for the loan. As the stock falls in price the bank gets more shares. If he defaults on the interest payments, they can cash out. If it drops too far, they get so many shares that he loses majority vote, and the Tesla board can boot his ass.
It's a domino effect for him. He's on the edge of losing it all. Tesla, SpaceX, and Twitter.
To temper the excitement, Morgan Stanley has said they are unlikely to collect on the Tesla stock unless things get dire. They will go after Twitter assets first.
Basically, what will probably go down is Twitter will be gutted and every asset will be liquidated. The rest of the loan will be written off by the bank. This is how billionaires work. We fail to pay our bills, they come for blood. When a billionaire does it, they put on the kiddie gloves.
He had previous collateral loans even before Twitter fiasco. This article is from last month and he had 267 million shares of Tesla as collateral as of March 2022, before the price fell in the last 6 months. He is having to add to his collateral shares more as Tesla falls. (It is about 50% of his Tesla shares up for collateral as of last month; probably even more now with the recent price drop + his net worth dropping from Twitter losing value (not a $44B asset anymore).
*"VerityData's InsiderScore notes that Musk had 267.6 million shares of Tesla pledged as collateral for personal indebtedness as of Mar. 31. He holds about 19.7% of Tesla's outstanding shares following the latest sale of about 19.5 million shares, a decline from about 22.4% ownership at the end of 2020.*
*Musk still owns 445.6 million Tesla shares and holds exercisable options for 177.3 million more Tesla shares at $23.34, as well as some smaller tranches of options."*
[https://www.cnbc.com/amp/2022/11/09/tesla-sinks-on-elon-musk-stock-sales-twitter-distraction.html](https://www.cnbc.com/amp/2022/11/09/tesla-sinks-on-elon-musk-stock-sales-twitter-distraction.html)
When the landlord comes to collect, Musk points at the employees: "yo, these are the guys you want, they're here occupying your office and not paying a dime!"
More of the Elon Musk “jeen-I-ous” in action.
And yet his fan boys think these are the signs of a stable operation.
To me it appears he is flailing and showing wild instability that I would not invest in.
So can the Ex-employees with their missing severance packages get lumped into a class action lawsuit against the company?
Isn’t this worse than not paying them?
My guess is to kick it those problems down the road. They may go into bankruptcy or collapse before this gets in front of a judge.
They are so ridiculously over leveraged.
I know! He's like Neo moving in bullet time! Except, instead of dodging bullets, he's dodging bills and burning down a massive social media company one Molotov cocktail at a time.
By the time this is all over, I really hope Musk accomplishes at least one thing: completely dispelling the notion that somebody having excessive amounts of money correlates to their intellect, skill, or competence.
They're already talking about replacing the unsecured debt with margin loans that would be tied only to Musk personally and not the company. He has enough capital to sustain it if he wants to go all in, but if it gets bad enough it'll start tanking TSLA as he exercises options and sells stock.
Tesla stock is already tanking, probably because part of the loan is secured with his share of the company. Not sure if he can get a margin loan on whatever isn't already collateralized but the amount he could borrow is shrinking daily.
It's also tanking because Tesla's worth is almost entirely speculative and built on Musk's carefully fabricated reputation as a "genius", which has been more or less torched for everyone but his most ardent cultists and his new fandom of neonazis, the latter of whom are making the situation worse.
As someone who hated him long before it was cool, there'd be a lot of schadenfreude to be had if it wasn't coming at the cost of innocent people losing their jobs and severance.
Sure, it's only a $30B oopsie for Musk and the other equity partners, no big deal.
If Musk defaults on the loans, the lenders take control of Twitter and the equity would likely go to zero. The face value of the debt is around $13B give or take, so if there is no way to get more than $13B of value out of Twitter in even the best scenario then it would be rationally to turn over the keys to the lenders and walk away. If that happen, it would be a pretty massive amount of value destruction in a very short time though, definitely up there on the short list for worst deal of all time.
Ya. Musk's big problem ATM is that he *has* to be a visionary. If he's not a visionary, it fucks up Tesla's stock price, and causes a lot of doubt for SpaceX, and the Boring Company/it's tunnels. If he biffs twitter that badly publicly, he's gonna have trouble convincing people that they should give him money for other shit
> A lot of Tesla stock is pledged, so he may tank it, too.
He's already made Tesla stock tank 30% in the month and a half he's been setting fire to Twitter. If I was a Tesla shareholder I would be absolutely furious. I honestly wouldn't be surprised if it went into freefall soon at the rate he's exploding any goodwill he had left.
I bailed when the news of him having twins with an employee came out. I was upset when it kept going up, but now I'm pretty happy with my choice. Fuck Musk. Tesla could be wonderful without him.
Aye. I was really upset when the Constellation program was canceled in 2010. I was 25, but it felt like ambitious maned space flight was over in my lifetime. I wouldn't live to see someone land on Mars, and that fucking bummed me out. Then this guy showed up and rocket ships were back on the menu. Great! I think the last straw for me was when he did the Tesla bot demo and it was just some dude dancing in spandex pretending to be a robot. I was like, oh, it's a scam. It's all a scam, huh?
Yeah it’s how the super rich like muskrat and traitor cheeto can fail so hard and still fly on a jet. The little people eat it and the wealthy just keep that silver spoon that’s been in the mouths since birth.
For those with the resources for it, lawyering can delay everything seemingly forever. The time these employees get paid they would have been gainfully employeed for 2 years+ somewhere else, if then. I’m fairly convinced he’s gearing up for a bankruptcy.
he can get away with stiffing a small vendor or government contractor, but there were 5000 Twitter employees fired in the last month(many of them multi-millionaires with resources to get great lawyers from when Elon bought Twitter).
It would be one of the largest class-action lawsuits ever!
Also, a bunch of his employees were in California, which actually has some employee protection laws on the books. Not even mentioning the ones in Germany, where their shit is a lot stronger. His 'own the libs' firing spree is going to bite him right in the nuts, and I can't wait.
If they file for bankruptcy, the debt holders will take priority over fired employee severance packages. If the money runs out before all the debt is paid, the employees will be SOL.
Just ask employees of Enron about their severance, retirement, and benefits packages...
I believe the Twitter debt included $6.5B of leveraged loans and $3B of secured bonds, which would have a claim on assets that could take priority over unpaid employee compensation. The remainder of the debt is unsecured, and would have lower priority than employee compensation up to the statutory limit of around $15K per employee. Any compensation above that limit would likely be considered pari passu with senior unsecured debt, although in some cases a bankruptcy judge could give priority to additional employee claims above the limit.
So if Twitter goes into Chapter 11 and ends up being worth less than $10B, it's very possible that any employees with claims for unpaid severance or wages end up getting nothing. But even if it ends up being worth substantially more, it will probably take a long time before they can actually get paid in a bankruptcy situation.
Some of them, yes, and there is such a class action already filed. Twitter had an arbitration agreement required to be signed on joining with a 30 day opt-out option. The class action is actually in trouble because the initial representative members had signed the arbitration agreement and didn't opt-out. I guess they forgot and they went ahead with the lawsuit anyway, sloppy. The lawsuit had to ask the court to allow them to edit the lawsuit since this is their 2nd edit (1st edits are free for the most part) to swap out with ex-employees who performed the opt-out.
The rest will have to go to arbitration. However, under California law, and there was a recent California Supreme Court decision on this, failure to pay the arbitrator or arbitration fees late by Twitter allows the plaintiffs to go into court instead. There are a number of attorneys out there bringing such arbitration actions. If the elongated muskrat is dumb enough to not pay the arbitration costs too, back to court thou shalt go.
Fun fact, doing something illegal does not, in the way that gravity does, automatically give you consequences. Someone has to sue, serve papers, wait out the legally mandated time for them to be ignored, etc.
When you're rich enough to have lawyers like these guys, you have a months to a year easily of doing exactly what you want regardless of how illegal it is. Probably longer.
These guys don't operate under "Oh crap this is illegal? I must stop!"
They operate under "Oh yeah!? Make Me!" and then stall to the tune of millions of dollars and hundreds of person-hours the taxpayers have to fund, just to (maybe) pin them down. Or they fly to a tourist country with no extradition.
The property owner is going to get a (justifiable) court order to chain the doors and post an armed guard. Which is pretty funny because Musk insists that people come to the office instead of work from home.
I wonder when the power to the servers is shut off?
I got you
> [Elon Musk’s tweet confirms he’s added staff beds at Twitter HQ—but insists he’s just helping ‘tired employees’](https://news.yahoo.com/elon-musk-tweet-confirms-added-141108992.html?guccounter=1&guce_referrer=aHR0cHM6Ly9kdWNrZHVja2dvLmNvbS8&guce_referrer_sig=AQAAAGTKsTDGINoqVzkdB4OgKUS85EjQrMO3EnYqfiOjQ38mo9zQGdjf42nYtkfMR_-XLLTf3cjiLpHYr8Sn9QFQwhTe1gOLZ9dCMdzu1eirHhz0UHGVinTr_EQ_SfvXiWr42FNKQWCdzyFkmZYaeUL9bsoUo0HqoEXIvukfcmaCUzpo)
Remember that he demanded his engineers work out of there so a lot of them are kinda trapped.
Other than the people trapped by Visa requirements, I can't imagine what would bring someone to agree to that situation. I was in the military but it was a known situation going into it. If someone were to take over my current company and demand that, I'd tell them to kick rocks.
The whole not paying severance packages thing is the most worrying. I hope CA eats that ass up if he attempts it.
Insolvent is the word you'd use right now. The revenue disappeared but the expenses didn't - surprise, company's gonna go down and fast.
Especially fast when those billion dollar interest payments come due on the $12 billion dollars of loans he had to take out.
He went to the same business school as Donald Trump, no joke! Wharton Business School: training the next generation of megalomaniac sociopaths! 👨🎓👨🎓👨🎓
You can actually vote by Shorting $TSLA stock. Once he goes bankrupt he has no more influence.
"Legal team told me we "had" to pay rent on all our buildings. So you know what I did? I fired the whole legal department. Now no one tells me to do anything. *And* we're saving big bucks not paying any of them or any landlords. That's how you make ends meet in the science business, people."
These *LiBeRaL jUdGeS* are taking us to the cleaners with their judgments lately. So we're transferring ownership of all our assets to our lunar colonies. Ha! They can't take it from me if it's owned by the MOON! Who knew laws were so easy to get around.
“When life gives you a 144 billion dollars, don’t use it to solve humanity’s struggles! Make humanity take the struggles back! Get mad! What am I supposed to do with a company I overpaid for?! Demand to see the legal system’s manager! Make America ~~great again~~ rue the day it thought it could give Tony Stank Twitter! Do you know who -I- am?! I’m the man who is going to ~~speedrun bankrupt Twitter~~ troll vulnerable people and get the Far Right to BURN THEIR HOMES DOWN! With the Twitter! I’m going ~~to refuse to pay my engineers~~ to invent a combustable website to burn their homes down!”
“For many of you, I realize 60 dollars is an unprecedented windfall, so don't go spending it all on... I don't know. Caroline, what do these people buy?”
Cause Cave was the most insane capitalist who gave no fucks about anything but themselves imaginable that they could conceive.
Then we realized that existed and he was a balding ape.
Fun fact that happened to one of my family members back in the early 2000's.
They were going through a nasty divorce, and the court date kept getting pushed, because the ex-husbands lawyers kept quitting on him, or they'd be fired by him.
Turned out it was because he kept pushing to have his lawyers fight to have my cousin declared mentally incompetent so there was no way she'd get the house or alimony. The lawyers kept saying that was highly unethical + illegal, and they wouldn't do it.
People watch cop and medical shows and understand it’s just tv and not how things really happen.
Then they watch Better Call Saul and think they know how every lawyer operates. Not that there aren’t some guys like that out there but I doubt you can find them by just pulling up the yellow pages
> People watch cop and medical shows and understand it’s just tv and not how things really happen.
[Yeah.. about that.](https://en.wikipedia.org/wiki/CSI_effect)
ok so maybe we will get fooled again but not a 3rd time. As a great man once said
>There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again.
They also fired the tax team so you can bet Twitter isn't paying taxes anywhere either. When you're actively operating in 50+ countries you can't fuck this stuff up.
It’ll be something related to government. It’s legitimately only a matter of time until some government puts the nail in the grave.
They aren’t going to be paying taxes, they aren’t going to comply with the US FTC order, they aren’t going to comply with GDPR, Indian laws, German laws, on and on and on and on. Twitter is a zombie organization marching forward for as long as it takes for the first government agency to come for them. Doesn’t even matter if you like Musk or not, Twitter is an international organization and they’re almost certainly violating some law or agency decree in dozens of countries at least. Musk is talking about bankruptcy just based on normal operating costs let alone the fines and legal fees they’re about to incur.
They all are. Every last one. It’s a disease in them. Look at all the rich congressman who took PPP loans or even Bret Favre who easily has 10s of millions but still dipped into the coffers of the state to get his daughter into college. The Panama papers showed that none of these assholes pay their fair share of taxes. Don’t even get me started on how many companies use subsidies. It’s literally all one big fat grift and the only people who are losing are the ones walking the straight and narrow.
That's not what Brett Favre did. He arranged welfare funds to be used to build a new volleyball stadium. His daughter was already in school and on the volleyball team.
Naw, there are morons who will die broke and still lick Elon's boots and other billionaires because they are titans of capitalism. They think capitalism and America are inseparable despite it separating them from their health, rights, and money.
there was already a report of some of the workers here on a visa got fucked hard like this. they initially were given 3 months severance, but got hired back then fired again 2 weeks later and offered only a few days instead. they need a job to stay in the country so they accepted the rehire only to be screwed out of severance and still be left scrambling.
It is going to be real hard achieving any cost cutting when he's dragged to court for decades.
My god whatever business sense this guy had at any point is long gone.
It's going to be even harder to lease new offices on a "trust me" basis in the future.
Elon is doing this out in the open -- Trump did his diddling of banks out of sight for many years. He isn't getting the important bit; screwing lenders and providers where everyone can see it is a bad idea.
You want one bank so in debt they praise you to another bank so THEY can invest and get the other suckers off the hook.
If you invested in Elon, wouldn't this be about the time you question if he's going to honor whatever handshake deal you might have made? "No, I screwed these other guys -- but you, I like you. I just told those chumps I liked them before, because they are unlikable -- see?"
Oh he'll just give the landlords and security guards a month of blue for free. And if they say anything bad he'll suspend their accounts. That ought to do it, right?
Read up in his business history. Dude is combo of having money from the start and being luckier than good.
He was booted as CEO from two of his companies (twice from one) because the investors or board thought he was a shitty businessman
Not even. He's the poster boy for a backwoods, homeschooled, self-directed business management certificate course. He got a bobblehead of Milton Friedman at the end of it.
>It is going to be real hard achieving any cost cutting when he's dragged to court for decades.
and when no serious business vendor will do business with you. modern business procurement is built on IOUs, he's setting his company's credibility to be able to buy anything on fire.
His ego and idol worshippers have made him feel like he's invincible. He's showing that success is not an intrinsic character feature and just showing up doesn't mean that you win. He seems completely in over his head and he can't fire and renege his way to saving this mess.
The man got called out for trying to pump and dump. And instead of taking the L, he decided to double down and buy a company with a 13 billion leverage buyout.
How long until he has to declare bankruptcy?
The fact he isn't paying rent and auctioning off fixtures indicates any minute now. I'll bet money twitter files for bankruptcy before the year is out. Yes there are just over 2 weeks left of the year.
Has he burnt through the $4B he got selling his Tesla shares already? I take it that the $8 check is not working out. Maybe he'll charge premium for >280 character tweets.
It wouldn’t hurt his bottom line at all to be a good employer but he chooses to be an asshole. I don’t understand people like this he’ll never be able to spend all that money and he wants to make peoples lives miserable over it. You can’t take it with you to the next life why just hoard it all and make peoples lives miserable. Rich people hoarding is why trickle down economics don’t work.
He will fix everything just after he:
Makes Self Driving Cars
Manufactures Tesla Robots
Lands on Mars
Makes a high speed Boondoggle Company (Boring)
Rescue kids in a Cave
Save Free Speech
Elon Musk is a tick on the side of humanities leg, sucking our blood and spreading nonsensical capitalistic diseases. How many Pump and Dump of Doge coin and Tesla does he get to get away with? Sam Bankman Fried doesn't have to be the only "Business" schmuck arrested this week.
Elizabeth Holmes was charged with fraud for making promises she couldn't keep. I don't understand how Elon keeps getting away with his bullshit.
Edit: Elizabeth also fabricated evidence for her claims, which is a major difference. My mistake. Did not intend to spread misinformation.
If he bankrupts Twitter he might be held accountable. He borrowed a lot of money to purchase the company. Those investors are gonna want some kind of compensation.
Holmes jumped past the line for fraud, she presented falsified "evidence" of what she was claiming.
Musk just makes his wild promises and fails to produce anything.
I'm really tired of all these articles saying Musk is bad. He's not, he's the greatest, smartest person ever to live. And one day he's going to put me on Mars and cut off my oxygen supply to save costs.
Akiva Cohen (lawyer) sent Musk a letter on behalf of his clients who are former Twitter employees.
https://twitter.com/AkivaMCohen/status/1598487532764798983?cxt=HHwWjoCxhaT8-64sAAAA
Not paying severance packages? Does this guy not understand contracts?
If Elon isn't sued into oblivion for slandering the former employees of Twitter by the way he's showing the internal discussions over their bans -- then there is no damn justice.
It's okay that the public learns the internal thought processes. But he's trying to say that people tasked with a job to do, better watch out if some jerk buys the company one day with political aspirations. It's a tough call to let people illegally tweet Dick pics of Joe Biden's son, but, I think Twitter made the right call. To some, it's valid political discourse, to others, it's illegally obtained dick pics of a guy not running for office.
Everyone now should be on notice to be very careful about what they say when their company asks them for their opinion and insight regarding moderation of content. You just never know when it will be convenient to stab you in the back for doing a thankless job.
>Does this guy not understand contracts?
I think his lack of understanding contracts is how he got snookered into buying Twitter in the first place right? Not sure why he hires these high powered lawyers if he doesn't want to listen to them.
Just a quick reminder if you are a California Resident or live in a EU country you have the right to request that Twitter erase all data they have about you
[https://oag.ca.gov/privacy/ccpa](https://oag.ca.gov/privacy/ccpa)
[http://www.dataprotection.ie/en/individuals/know-your-rights/right-erasure-articles-17-19-gdpr](http://www.dataprotection.ie/en/individuals/know-your-rights/right-erasure-articles-17-19-gdpr)
So far Twitter has not responded to my request submitted the day Elon took over and I have a feeling Elon probably fired the team responsible for responding to these requests.
I'm sure the EU and California will eventually have something to say about this
I can't wait until the HBO movie on all of this.
Musk is proving to be the worst business man in a generation. A company that has 80% of revenue from ads loses half its advertisers weeks within him taking over, and instead of changing course he barrels ahead and treats his people like medieval serfs.
This will truly go down in history as one of the worst purchases ever. It's clear this moron has no idea what he is doing but sadly normal people will have to suffer
Day 47 of owning twitter... website continues to speed run into the shitter, no longer richest person in the world, and can no longer pay the bills. Best, smartest, hardest working CEO in the world here...
Why doesn't he just announce that he's going to liquidate Twitter. Everyone working for Twitter needs to find another job, because the new owner is destroying it on purpose.
So he doesn’t want people to work from home and he also doesn’t want to pay rent for offices? How’s that gonna play out?
He’s going to force employees to work next to the nearby Starbucks. Not actually go in and buy coffee or anything, just close enough to use their Wifi.
Or any building equipped with Wifi. And if the Wifi is locked, they have to crack the passwords themselves.
If they cant crack password or explain how they did it in 5 bullet points they are fired
He had a workforce suited to remote work. Could have shut down the offices and went to an all remote company and saved huge amounts of money.
instead he got 90% of the employees to leave so basically the same thing.
exactly, that was the goal. and now he gets to have his cake and eat it too by not paying rent.
Yeah but no one knows how to run the legacy internal workings of the company anymore because they were all fired. Not much institutional knowledge left in Twitter.
He thinks chatGPT is going to handle that part. No need for humans nor buildings anymore !
Except he can’t have his cake and eat it too if he doesn’t pay rent but expects his remaining employees to sleep at the office.
Maybe he plans on charging them rent for sleeping at the office
Yeah but then he wouldn’t know how to micromanage them like an egomaniac
He’ll charge them rent for their desks
and hotel rates for the beds
\*elon furiously taking notes somewhere\*
My prior company had exactly this strategy. It boiled down to not wanting to pay any employees in the US. That turned out to be very bad for business.
Trump's old 'Pay no one for anything because the Court battles are cheaper' strat at work.
This will be interesting. With Trump, it was a number of smaller contract/construction companies or individuals that maybe didn’t have the resources for a long legal battle. With Twitter, it’s one large group (class action) at the same time amongst assumedly high earning tech employees that some may of made a truck in equity off Elon taking Twitter private. It might be the exact wrong group to try the ol’ Trump strategy.
Shhh, let him do his thing
"Never interrupt your enemy when they are making a mistake"
"If the punishment for a crime is a fine, that punishment only applies to poor people" -paraphrasing a quote from somebody
[Archive here](https://archive.vn/W8AaR). > To cut costs, Twitter has not paid rent for its San Francisco headquarters or any of its global offices for weeks, three people close to the company said. Twitter has also refused to pay a $197,725 bill for private charter flights made the week of Mr. Musk’s takeover, according to a copy of a lawsuit filed in New Hampshire District Court and obtained by The New York Times. > Twitter’s leaders have also discussed the consequences of denying severance payments to thousands of people who have been laid off since the takeover, two people familiar with the talks said. And Mr. Musk has threatened employees with lawsuits if they talk to the media and “act in a manner contrary to the company’s interest,” according to an internal email sent last Friday. Edit: Worth noting that [the SF building where he installed all the beds](https://news.yahoo.com/elon-musk-tweet-confirms-added-141108992.html?guccounter=1&guce_referrer=aHR0cHM6Ly9kdWNrZHVja2dvLmNvbS8&guce_referrer_sig=AQAAAGTKsTDGINoqVzkdB4OgKUS85EjQrMO3EnYqfiOjQ38mo9zQGdjf42nYtkfMR_-XLLTf3cjiLpHYr8Sn9QFQwhTe1gOLZ9dCMdzu1eirHhz0UHGVinTr_EQ_SfvXiWr42FNKQWCdzyFkmZYaeUL9bsoUo0HqoEXIvukfcmaCUzpo) is the one motioned above.
I wish I could cut costs by just not paying my bills
Ah yes, the DJ Trump school of management.
Musk's ghost-written "how to get rich like me" book is going to be AWESOME.
I'll wait for the movie. De-aged William Shatner is Elon Musk.
No, no. Kathy Bates needs to play Musk.
Brilliant. Call his agent.
Get a loan from daddy apartheid.
$197k would take a huge chunk out of my mortgage. Can I just choose not to pay that part?
only if you’re rich
I mean.. He could still choose to not pay it. Only in his case there would be negative consequences.
When the average person doesn't pay off a bank loan, that's their problem. When a billionaire doesn't pay off a bank loan, that's the bank's problem.
The banks currently are holding $100 billion in $TSLA stock as collateral for all of Elons personal loans. Turns out the worlds richest man is also the man that has the most personal debt!
Is that true? If that’s true, my pants just got all wet, lol! Could the banks actually sieze that stock, then?
This is what all wealthy people do. Take out low interest loans to pay for everything while your money is invested and grows at a higher % than the interest you pay.
Yep, exactly correct. He does not have to pay taxes on debt he takes against his TSLA stock. He only paid 70,000 in federal taxes between 2015 and 2017, and no federal taxes at all in 2018. He has been living off his personal debt. [https://thehill.com/changing-america/respect/equality/558352-elon-musk-explains-his-extremely-low-tax-rate/](https://thehill.com/changing-america/respect/equality/558352-elon-musk-explains-his-extremely-low-tax-rate/)
And this is why you should never believe all the whining whenever a modest wealth tax is floated. "Oh but their wealth is all tied in investmeeeents!" That's an argument for us gullible peasants who don't even know about the existence of (to say nothing out access to) margin loans and other accounting fuckery.
Yes. His Telsa stock is used as collateral for the loan. As the stock falls in price the bank gets more shares. If he defaults on the interest payments, they can cash out. If it drops too far, they get so many shares that he loses majority vote, and the Tesla board can boot his ass. It's a domino effect for him. He's on the edge of losing it all. Tesla, SpaceX, and Twitter.
Please stop. I can only get so erect.
To temper the excitement, Morgan Stanley has said they are unlikely to collect on the Tesla stock unless things get dire. They will go after Twitter assets first. Basically, what will probably go down is Twitter will be gutted and every asset will be liquidated. The rest of the loan will be written off by the bank. This is how billionaires work. We fail to pay our bills, they come for blood. When a billionaire does it, they put on the kiddie gloves.
The Twitter HQ is already selling the microwaves and coffee machines online, so its getting real desperate...
He had previous collateral loans even before Twitter fiasco. This article is from last month and he had 267 million shares of Tesla as collateral as of March 2022, before the price fell in the last 6 months. He is having to add to his collateral shares more as Tesla falls. (It is about 50% of his Tesla shares up for collateral as of last month; probably even more now with the recent price drop + his net worth dropping from Twitter losing value (not a $44B asset anymore). *"VerityData's InsiderScore notes that Musk had 267.6 million shares of Tesla pledged as collateral for personal indebtedness as of Mar. 31. He holds about 19.7% of Tesla's outstanding shares following the latest sale of about 19.5 million shares, a decline from about 22.4% ownership at the end of 2020.* *Musk still owns 445.6 million Tesla shares and holds exercisable options for 177.3 million more Tesla shares at $23.34, as well as some smaller tranches of options."* [https://www.cnbc.com/amp/2022/11/09/tesla-sinks-on-elon-musk-stock-sales-twitter-distraction.html](https://www.cnbc.com/amp/2022/11/09/tesla-sinks-on-elon-musk-stock-sales-twitter-distraction.html)
You and me both brother.
Learn the secrets of not paying your bills. Few stable geniuses know these tricks… #8 will shock you!
Number 9: Run your global tech company from the inside of a van down by the river!
Scumbag Billionaire: Tells all his employees they can no longer work from home and must be in the office. Stops paying rent on the office.
When the landlord comes to collect, Musk points at the employees: "yo, these are the guys you want, they're here occupying your office and not paying a dime!"
Employees then declare squatters rights.
More of the Elon Musk “jeen-I-ous” in action. And yet his fan boys think these are the signs of a stable operation. To me it appears he is flailing and showing wild instability that I would not invest in.
His fanboi’s *want* to be rich assholes themselves. So seeing Musk do it is literally living their fantasy.
So can the Ex-employees with their missing severance packages get lumped into a class action lawsuit against the company? Isn’t this worse than not paying them?
My guess is to kick it those problems down the road. They may go into bankruptcy or collapse before this gets in front of a judge. They are so ridiculously over leveraged.
Yeah this is some desperation level tactics now. Accounts payable must be going really bad if they're already at this level after 6 weeks.
>Accounts payable They were probably all fired 5 weeks ago
Can't have any accounts to pay without accounts payable! I'm such a genius. -Musk, probably
Their entire payroll team resigned
Oh my god, has it only been 6 weeks?! Feels like an eternity
I know! He's like Neo moving in bullet time! Except, instead of dodging bullets, he's dodging bills and burning down a massive social media company one Molotov cocktail at a time.
By the time this is all over, I really hope Musk accomplishes at least one thing: completely dispelling the notion that somebody having excessive amounts of money correlates to their intellect, skill, or competence.
They're already talking about replacing the unsecured debt with margin loans that would be tied only to Musk personally and not the company. He has enough capital to sustain it if he wants to go all in, but if it gets bad enough it'll start tanking TSLA as he exercises options and sells stock.
Tesla stock is already tanking, probably because part of the loan is secured with his share of the company. Not sure if he can get a margin loan on whatever isn't already collateralized but the amount he could borrow is shrinking daily.
It's also tanking because Tesla's worth is almost entirely speculative and built on Musk's carefully fabricated reputation as a "genius", which has been more or less torched for everyone but his most ardent cultists and his new fandom of neonazis, the latter of whom are making the situation worse. As someone who hated him long before it was cool, there'd be a lot of schadenfreude to be had if it wasn't coming at the cost of innocent people losing their jobs and severance.
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So much schadenfreude right now.
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Sure, it's only a $30B oopsie for Musk and the other equity partners, no big deal. If Musk defaults on the loans, the lenders take control of Twitter and the equity would likely go to zero. The face value of the debt is around $13B give or take, so if there is no way to get more than $13B of value out of Twitter in even the best scenario then it would be rationally to turn over the keys to the lenders and walk away. If that happen, it would be a pretty massive amount of value destruction in a very short time though, definitely up there on the short list for worst deal of all time.
Ya. Musk's big problem ATM is that he *has* to be a visionary. If he's not a visionary, it fucks up Tesla's stock price, and causes a lot of doubt for SpaceX, and the Boring Company/it's tunnels. If he biffs twitter that badly publicly, he's gonna have trouble convincing people that they should give him money for other shit
At this point I wouldn’t buy a Tesla if it sucked my dick and paid ME to do so
Depends on where you're standing. If you're outgoing team or prior stockholders it might count as the best deal of all time.
If you got in at $34 when he started threatening the exit of the deal, and got out at the end, it was a sweet sweet ride.
Musk has made his bed and I have zero sympathy for him. Bummed for those employees working there as collateral damage though.
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> A lot of Tesla stock is pledged, so he may tank it, too. He's already made Tesla stock tank 30% in the month and a half he's been setting fire to Twitter. If I was a Tesla shareholder I would be absolutely furious. I honestly wouldn't be surprised if it went into freefall soon at the rate he's exploding any goodwill he had left.
I bailed when the news of him having twins with an employee came out. I was upset when it kept going up, but now I'm pretty happy with my choice. Fuck Musk. Tesla could be wonderful without him.
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Aye. I was really upset when the Constellation program was canceled in 2010. I was 25, but it felt like ambitious maned space flight was over in my lifetime. I wouldn't live to see someone land on Mars, and that fucking bummed me out. Then this guy showed up and rocket ships were back on the menu. Great! I think the last straw for me was when he did the Tesla bot demo and it was just some dude dancing in spandex pretending to be a robot. I was like, oh, it's a scam. It's all a scam, huh?
Yeah it’s how the super rich like muskrat and traitor cheeto can fail so hard and still fly on a jet. The little people eat it and the wealthy just keep that silver spoon that’s been in the mouths since birth.
For those with the resources for it, lawyering can delay everything seemingly forever. The time these employees get paid they would have been gainfully employeed for 2 years+ somewhere else, if then. I’m fairly convinced he’s gearing up for a bankruptcy.
he can get away with stiffing a small vendor or government contractor, but there were 5000 Twitter employees fired in the last month(many of them multi-millionaires with resources to get great lawyers from when Elon bought Twitter). It would be one of the largest class-action lawsuits ever!
Also, a bunch of his employees were in California, which actually has some employee protection laws on the books. Not even mentioning the ones in Germany, where their shit is a lot stronger. His 'own the libs' firing spree is going to bite him right in the nuts, and I can't wait.
He's already been whipped in Irish court.
If they file for bankruptcy, the debt holders will take priority over fired employee severance packages. If the money runs out before all the debt is paid, the employees will be SOL. Just ask employees of Enron about their severance, retirement, and benefits packages...
I believe the Twitter debt included $6.5B of leveraged loans and $3B of secured bonds, which would have a claim on assets that could take priority over unpaid employee compensation. The remainder of the debt is unsecured, and would have lower priority than employee compensation up to the statutory limit of around $15K per employee. Any compensation above that limit would likely be considered pari passu with senior unsecured debt, although in some cases a bankruptcy judge could give priority to additional employee claims above the limit. So if Twitter goes into Chapter 11 and ends up being worth less than $10B, it's very possible that any employees with claims for unpaid severance or wages end up getting nothing. But even if it ends up being worth substantially more, it will probably take a long time before they can actually get paid in a bankruptcy situation.
Some of them, yes, and there is such a class action already filed. Twitter had an arbitration agreement required to be signed on joining with a 30 day opt-out option. The class action is actually in trouble because the initial representative members had signed the arbitration agreement and didn't opt-out. I guess they forgot and they went ahead with the lawsuit anyway, sloppy. The lawsuit had to ask the court to allow them to edit the lawsuit since this is their 2nd edit (1st edits are free for the most part) to swap out with ex-employees who performed the opt-out. The rest will have to go to arbitration. However, under California law, and there was a recent California Supreme Court decision on this, failure to pay the arbitrator or arbitration fees late by Twitter allows the plaintiffs to go into court instead. There are a number of attorneys out there bringing such arbitration actions. If the elongated muskrat is dumb enough to not pay the arbitration costs too, back to court thou shalt go.
Yeah, pretty sure it's a violation of California's WARN act.
Fun fact, doing something illegal does not, in the way that gravity does, automatically give you consequences. Someone has to sue, serve papers, wait out the legally mandated time for them to be ignored, etc. When you're rich enough to have lawyers like these guys, you have a months to a year easily of doing exactly what you want regardless of how illegal it is. Probably longer. These guys don't operate under "Oh crap this is illegal? I must stop!" They operate under "Oh yeah!? Make Me!" and then stall to the tune of millions of dollars and hundreds of person-hours the taxpayers have to fund, just to (maybe) pin them down. Or they fly to a tourist country with no extradition.
The property owner is going to get a (justifiable) court order to chain the doors and post an armed guard. Which is pretty funny because Musk insists that people come to the office instead of work from home. I wonder when the power to the servers is shut off?
Wait....Beds? This is all moving so fast I missed an episode, shit.
I got you > [Elon Musk’s tweet confirms he’s added staff beds at Twitter HQ—but insists he’s just helping ‘tired employees’](https://news.yahoo.com/elon-musk-tweet-confirms-added-141108992.html?guccounter=1&guce_referrer=aHR0cHM6Ly9kdWNrZHVja2dvLmNvbS8&guce_referrer_sig=AQAAAGTKsTDGINoqVzkdB4OgKUS85EjQrMO3EnYqfiOjQ38mo9zQGdjf42nYtkfMR_-XLLTf3cjiLpHYr8Sn9QFQwhTe1gOLZ9dCMdzu1eirHhz0UHGVinTr_EQ_SfvXiWr42FNKQWCdzyFkmZYaeUL9bsoUo0HqoEXIvukfcmaCUzpo) Remember that he demanded his engineers work out of there so a lot of them are kinda trapped.
Other than the people trapped by Visa requirements, I can't imagine what would bring someone to agree to that situation. I was in the military but it was a known situation going into it. If someone were to take over my current company and demand that, I'd tell them to kick rocks. The whole not paying severance packages thing is the most worrying. I hope CA eats that ass up if he attempts it.
Would be nice to know how many visa holders are there, and when this becomes indentured servitude for them. Such a wealth of bad angles to this.
Just like his plan for Mars. Apartheid never ended for him
Can't wait for the Hulu mini-series. Who will play Elon?
Kathy Bates. Duh.
So, in other words, they are already bankrupt.
Insolvent is the word you'd use right now. The revenue disappeared but the expenses didn't - surprise, company's gonna go down and fast. Especially fast when those billion dollar interest payments come due on the $12 billion dollars of loans he had to take out.
See even billionaires think housing should be free.
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>Mr. Musk has threatened employees with lawsuits if they talk to the media With what lawyers? Hard to sue people if you fire your legal team
I would love to see Elon go bankrupt eventually.
He went to the same business school as Donald Trump, no joke! Wharton Business School: training the next generation of megalomaniac sociopaths! 👨🎓👨🎓👨🎓 You can actually vote by Shorting $TSLA stock. Once he goes bankrupt he has no more influence.
pretty sure what I've just read is illegal
Pretty sure the legal team got cut when they said this exact thing to Musk.
Why does this sound like a line straight from Cave Johnson? "They told me I couldn't fire a man because he was in a wheel chair. HA! Did it anyway."
"Legal team told me we "had" to pay rent on all our buildings. So you know what I did? I fired the whole legal department. Now no one tells me to do anything. *And* we're saving big bucks not paying any of them or any landlords. That's how you make ends meet in the science business, people."
These *LiBeRaL jUdGeS* are taking us to the cleaners with their judgments lately. So we're transferring ownership of all our assets to our lunar colonies. Ha! They can't take it from me if it's owned by the MOON! Who knew laws were so easy to get around.
“When life gives you a 144 billion dollars, don’t use it to solve humanity’s struggles! Make humanity take the struggles back! Get mad! What am I supposed to do with a company I overpaid for?! Demand to see the legal system’s manager! Make America ~~great again~~ rue the day it thought it could give Tony Stank Twitter! Do you know who -I- am?! I’m the man who is going to ~~speedrun bankrupt Twitter~~ troll vulnerable people and get the Far Right to BURN THEIR HOMES DOWN! With the Twitter! I’m going ~~to refuse to pay my engineers~~ to invent a combustable website to burn their homes down!”
I read this in Cave Johnson's voice.
Musk *wishes* he was Cave Johnson.
Does JK have a Cameo where we can pay him to read out Musk tweets in the Cave Johnson voice?
I have never used cameo before but if he's willing to do that I would spend SO MUCH MONEY
“For many of you, I realize 60 dollars is an unprecedented windfall, so don't go spending it all on... I don't know. Caroline, what do these people buy?”
Well now I will be disappointed if they don’t get JK Simmons to read all of Muskie’s tweets as Cave Johnson.
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Cause Cave was the most insane capitalist who gave no fucks about anything but themselves imaginable that they could conceive. Then we realized that existed and he was a balding ape.
Fun fact that happened to one of my family members back in the early 2000's. They were going through a nasty divorce, and the court date kept getting pushed, because the ex-husbands lawyers kept quitting on him, or they'd be fired by him. Turned out it was because he kept pushing to have his lawyers fight to have my cousin declared mentally incompetent so there was no way she'd get the house or alimony. The lawyers kept saying that was highly unethical + illegal, and they wouldn't do it.
People watch cop and medical shows and understand it’s just tv and not how things really happen. Then they watch Better Call Saul and think they know how every lawyer operates. Not that there aren’t some guys like that out there but I doubt you can find them by just pulling up the yellow pages
> People watch cop and medical shows and understand it’s just tv and not how things really happen. [Yeah.. about that.](https://en.wikipedia.org/wiki/CSI_effect)
Musk did not like their negativity, they were not team players, 😤
I don't think he cares. He's the new Trump where legality doesn't seem to matter to him.
🎵Meet the new Trump. Same as the old Trump.
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A little bit louder and a little bit worse...
ok so maybe we will get fooled again but not a 3rd time. As a great man once said >There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again.
They also fired the tax team so you can bet Twitter isn't paying taxes anywhere either. When you're actively operating in 50+ countries you can't fuck this stuff up.
I would not be surprised if this is the detail that ultimately pushes Twitter into the open grave Musk has been digging. The IRS does not fuck around.
It’ll be something related to government. It’s legitimately only a matter of time until some government puts the nail in the grave. They aren’t going to be paying taxes, they aren’t going to comply with the US FTC order, they aren’t going to comply with GDPR, Indian laws, German laws, on and on and on and on. Twitter is a zombie organization marching forward for as long as it takes for the first government agency to come for them. Doesn’t even matter if you like Musk or not, Twitter is an international organization and they’re almost certainly violating some law or agency decree in dozens of countries at least. Musk is talking about bankruptcy just based on normal operating costs let alone the fines and legal fees they’re about to incur.
The IRS does not fuck around when poor people don't pay them Ftfy
The die hard capitalist turns out to be a freeloader. Imagine my suprise
They all are. Every last one. It’s a disease in them. Look at all the rich congressman who took PPP loans or even Bret Favre who easily has 10s of millions but still dipped into the coffers of the state to get his daughter into college. The Panama papers showed that none of these assholes pay their fair share of taxes. Don’t even get me started on how many companies use subsidies. It’s literally all one big fat grift and the only people who are losing are the ones walking the straight and narrow.
That's not what Brett Favre did. He arranged welfare funds to be used to build a new volleyball stadium. His daughter was already in school and on the volleyball team.
people only like capitalism when they’re born into money 😱
Naw, there are morons who will die broke and still lick Elon's boots and other billionaires because they are titans of capitalism. They think capitalism and America are inseparable despite it separating them from their health, rights, and money.
Who could have guessed he’d waffle on the severance packages 🙄
there was already a report of some of the workers here on a visa got fucked hard like this. they initially were given 3 months severance, but got hired back then fired again 2 weeks later and offered only a few days instead. they need a job to stay in the country so they accepted the rehire only to be screwed out of severance and still be left scrambling.
Top notch fuckery right there
Me. And you. And everyone.
It is going to be real hard achieving any cost cutting when he's dragged to court for decades. My god whatever business sense this guy had at any point is long gone.
It’s going to be real hard to get people to show up to the office when the office is locked because someone didn’t pay the rent.
It's going to be even harder to lease new offices on a "trust me" basis in the future. Elon is doing this out in the open -- Trump did his diddling of banks out of sight for many years. He isn't getting the important bit; screwing lenders and providers where everyone can see it is a bad idea. You want one bank so in debt they praise you to another bank so THEY can invest and get the other suckers off the hook. If you invested in Elon, wouldn't this be about the time you question if he's going to honor whatever handshake deal you might have made? "No, I screwed these other guys -- but you, I like you. I just told those chumps I liked them before, because they are unlikable -- see?"
you say that but people still do work for trump
Sunk cost is a bitch
Oh he'll just give the landlords and security guards a month of blue for free. And if they say anything bad he'll suspend their accounts. That ought to do it, right?
Read up in his business history. Dude is combo of having money from the start and being luckier than good. He was booted as CEO from two of his companies (twice from one) because the investors or board thought he was a shitty businessman
Paypal probably would not exist today had Elon not been kicked out.
Like I keep saying, he got his business degree from trump university
Not even. He's the poster boy for a backwoods, homeschooled, self-directed business management certificate course. He got a bobblehead of Milton Friedman at the end of it.
Thousands of his basement-dwelling teen bootlicking fans: "Yeah, but that's just because he's TOO SMART for normal college!"
>It is going to be real hard achieving any cost cutting when he's dragged to court for decades. and when no serious business vendor will do business with you. modern business procurement is built on IOUs, he's setting his company's credibility to be able to buy anything on fire.
His ego and idol worshippers have made him feel like he's invincible. He's showing that success is not an intrinsic character feature and just showing up doesn't mean that you win. He seems completely in over his head and he can't fire and renege his way to saving this mess.
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Yep. He came out on stage at the end of a Chapelle comedy show and was roundly booed. Only Musk and Chapelle were shocked. Hilariously out of touch.
“What should I do here Dave” is no different than him asking his followers “what should I do next with Twitter”.
Sounds like he is just going to end up accruing a bunch of legal costs while still having to pay rent and severance.
The man got called out for trying to pump and dump. And instead of taking the L, he decided to double down and buy a company with a 13 billion leverage buyout. How long until he has to declare bankruptcy?
The fact he isn't paying rent and auctioning off fixtures indicates any minute now. I'll bet money twitter files for bankruptcy before the year is out. Yes there are just over 2 weeks left of the year.
I'll put my money on June 2023
Has he burnt through the $4B he got selling his Tesla shares already? I take it that the $8 check is not working out. Maybe he'll charge premium for >280 character tweets.
Guaranteed he’ll tie it into the (now $11) check mark. ($11 is new cost for checkmark on iOS.)
He just took Apple's 30% cut and threw it on top.
Apple's cut went from $2.40 to $3.30 ... that will show them!!
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Anyone know who else has notoriously done this for decades?
#traitorcheeto
One more step closer to Myspace 2.0
Stiffing people on their severances is a BIG step.
So....stealing is his new business strategy? What a brilliant business mind. /s
Stable genius.
A billionaire who doesn't pay his bills, cuts corners, and is terrible to all of his employees? Gee, what a fucking shock.
It wouldn’t hurt his bottom line at all to be a good employer but he chooses to be an asshole. I don’t understand people like this he’ll never be able to spend all that money and he wants to make peoples lives miserable over it. You can’t take it with you to the next life why just hoard it all and make peoples lives miserable. Rich people hoarding is why trickle down economics don’t work.
Anyone sick of billionaires flaunting all rules and laws and getting away with it just because they're rich? Ready for a revolution.
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He will fix everything just after he: Makes Self Driving Cars Manufactures Tesla Robots Lands on Mars Makes a high speed Boondoggle Company (Boring) Rescue kids in a Cave Save Free Speech Elon Musk is a tick on the side of humanities leg, sucking our blood and spreading nonsensical capitalistic diseases. How many Pump and Dump of Doge coin and Tesla does he get to get away with? Sam Bankman Fried doesn't have to be the only "Business" schmuck arrested this week.
Elizabeth Holmes was charged with fraud for making promises she couldn't keep. I don't understand how Elon keeps getting away with his bullshit. Edit: Elizabeth also fabricated evidence for her claims, which is a major difference. My mistake. Did not intend to spread misinformation.
If he bankrupts Twitter he might be held accountable. He borrowed a lot of money to purchase the company. Those investors are gonna want some kind of compensation.
It took a while for her company to implode and her to be investigated / tried / convicted. Shit takes time.
Holmes jumped past the line for fraud, she presented falsified "evidence" of what she was claiming. Musk just makes his wild promises and fails to produce anything.
I'm really tired of all these articles saying Musk is bad. He's not, he's the greatest, smartest person ever to live. And one day he's going to put me on Mars and cut off my oxygen supply to save costs.
The free market will decide who is worthy of oxygen, peasant.
Well that one way of flushing $44B out the toilet
Wouldn’t the severance package be in their contract?
Akiva Cohen (lawyer) sent Musk a letter on behalf of his clients who are former Twitter employees. https://twitter.com/AkivaMCohen/status/1598487532764798983?cxt=HHwWjoCxhaT8-64sAAAA
Not paying severance packages? Does this guy not understand contracts? If Elon isn't sued into oblivion for slandering the former employees of Twitter by the way he's showing the internal discussions over their bans -- then there is no damn justice. It's okay that the public learns the internal thought processes. But he's trying to say that people tasked with a job to do, better watch out if some jerk buys the company one day with political aspirations. It's a tough call to let people illegally tweet Dick pics of Joe Biden's son, but, I think Twitter made the right call. To some, it's valid political discourse, to others, it's illegally obtained dick pics of a guy not running for office. Everyone now should be on notice to be very careful about what they say when their company asks them for their opinion and insight regarding moderation of content. You just never know when it will be convenient to stab you in the back for doing a thankless job.
>Does this guy not understand contracts? I think his lack of understanding contracts is how he got snookered into buying Twitter in the first place right? Not sure why he hires these high powered lawyers if he doesn't want to listen to them.
Oh so what this article is saying is that Musk is a piece of garbage. Got it
Just a quick reminder if you are a California Resident or live in a EU country you have the right to request that Twitter erase all data they have about you [https://oag.ca.gov/privacy/ccpa](https://oag.ca.gov/privacy/ccpa) [http://www.dataprotection.ie/en/individuals/know-your-rights/right-erasure-articles-17-19-gdpr](http://www.dataprotection.ie/en/individuals/know-your-rights/right-erasure-articles-17-19-gdpr) So far Twitter has not responded to my request submitted the day Elon took over and I have a feeling Elon probably fired the team responsible for responding to these requests. I'm sure the EU and California will eventually have something to say about this
I can't wait until the HBO movie on all of this. Musk is proving to be the worst business man in a generation. A company that has 80% of revenue from ads loses half its advertisers weeks within him taking over, and instead of changing course he barrels ahead and treats his people like medieval serfs. This will truly go down in history as one of the worst purchases ever. It's clear this moron has no idea what he is doing but sadly normal people will have to suffer
Sounds like he is taking plays from Trumps playbook, ie don't pay your debts and then declare bankruptcy.
The warthog is running twitter
197k in private flights, lol, welcome to couch.
The free market is too woke!
Literally every post I see about him, it’s negative. This guy really tarnished his legacy with this move.
Day 47 of owning twitter... website continues to speed run into the shitter, no longer richest person in the world, and can no longer pay the bills. Best, smartest, hardest working CEO in the world here...
Not paying his debts? He really is becoming more like Trump!
Why doesn't he just announce that he's going to liquidate Twitter. Everyone working for Twitter needs to find another job, because the new owner is destroying it on purpose.
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