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Twitter is suing the law firm that used to represent Twitter. - The Verge
(www.theverge.com)
Manchild throwing shit at the wall randomly in the hopes one will stick.
A multi-billionaire accusing others of unjust enrichment. Cynicism is getting out of hand
a multi-billionaaire whose whole career was funded by his father's apartheid/slave-labour emerald mine, no less.
Forget the pot, this is a lump of charcoal calling the kettle black.
What a garbage excuse for a human. And this dude wants to colonize Mars?
He also wants to put a chip inside people's heads and has received approval from the FDA to conduct tests on humans.
Then he is going to sue people for thinking negatively of him too, yes?
Who in their right minds wants ads uploaded to the brain chip interface? Then we would need add blocker subscription for the chip 🤦♂️
People would have to survive the chip to be able to think negative thoughts about Musk. Because the last batch of monkeys didn't do too well.
Isn't that the chip that killed dozens of monkeys?
Yes, that's the one.
"A total of eight monkeys were euthanized, with two animals killed to gather "important histological data," one animal killed because of a device failure, another because of another device used called BioGlue, and four because of "suspected device-associated infections."
Slaverize Mars?
He wants to rebuild his dad's business in space.
Is he scraping the barrel or just short of loose change?
It’ll probably only cost him $1mm to maybe recoup $90mm. He probably thinks the payoff chance is worth the pocket change. The judge really out to hit him with a frivolous lawsuit penalty.
The interest payments on the loans he took out are $1.5 Billion. That's not accounting for any other costs that Twitter was already on the hook for.
Coincidentally, Musk stopped paying all of the costs that Twitter was on the hook for. Rent, data centers, janitorial service, everything.
And he's still not going to have enough money from twitter's operations to make even the basic servicing payment on the loan.
Which is why I still think something else was going on with the Twitter sale. It doesn't make sense for anyone financially.
Unless you imagine it's a bank giveaway to Musk, who will count Twitter as a loss carry forward for years to come when it goes bellyup.
I was, and remain, 100% convinced Musk will never pay those loans. The Saudi, etc authoritarians who bankrolled him knew it was a payment to kill Twitter. The west may have forgotten the Arab spring, but they didn't, and have been scared of Twitter since
Then the banks will take possession of Twitter, and probably arrange a (fire) sale to a financial sponsor. There is no chance the banks will role over like others that Musk is not paying. It’s much more cut and dry on term loans or bridge loans.
The bank group is furious with Twitter/Musk.
Oh I wonder if that bank users assassins...
Musk has always been good at selling himself, but is otherwise a fucking idiot.
Once you internalize this truth, most of his actions, and the actions of others around him, make sense.
Peter Thiel convinces Musk that it's a great idea to buy Twitter, Musk convinces a few bank managers that he's a genius and will make a lot of money, both are lying their asses off.
There were a few other players in the background, all playing on Musk's ego, all wanting Twitter to tank.
It’s definitely not a bank giveaway - the bank group is likely furious. They are hung with $13bn of debt, that is not sellable, and worse, has virtually no pathway to be sellable in the near future. It’s tough to figure out where this debt would be marked, but I would guess the Street has unrealized losses in the $3-5Bn range.
One from the Trump School of Business
I’d hope he’s doing this because he’s running out of money… but that’s not how capitalism works unfortunately.
Although it may very well be caused by Twitter running out of money, which would be corroborated by Twitter's lack of payment to various other parties. Giving Musk three options: Use more of his own money, admit defeat and massively scale back Twitter's functionality and availability, or try to scam money out of other people.
Clearly he's not willing to spend his own money, or admit failure.
Is this about revenge? This law firm helped the original Twitter management to force Musk to honor his promise to buy Twitter.
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this post was submitted on 08 Jul 2023
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