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Twitter To Rebrand As X
(www.theverge.com)
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this post was submitted on 23 Jul 2023
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Technology
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Guys, I’m starting to think this Elon guy isn’t as smart as he claims…
Depends.
If he thinks Twitter is irreperably dying, this may be a way, in which he can get out of repaying the loans he used to (partially) fund the buyout of twitter.
How does that get him out of the loans?
depends how the loans worked.
I was assuming his majority shares of X (ex Twitter) collateral.
And that that he could just go "yeah, go on, collect on your collateral, I don't mind", because it's not worth anything anymore.
But admittedly I have no Idea how the contracts were drawn up, if this is possible and if his other money would be available to collect on.