this post was submitted on 01 Jul 2023
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Mildly Infuriating
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But why? He spent so much money on it, why would he want to destroy it?
IIRC, causing its value to plummet is the easiest way for him to get out of this whole fiasco via bankruptcy (remember, he was basically forced into buying it). He played a stupid game and won a stupid prize and now he’s desperately trying to find a way out.
I still need a little guidance here so I can understand. Let's say Twitter did go bankrupt, then what would happen? Would Elon be off the hook for the billions of dollars he owes to his financers?
I don’t recall the specifics of the one article I read about this, but yes, I think being able to declare bankruptcy gives an out for at least some of the debt. I believe there was also some way that doing so protected Tesla but can’t recall exactly how that worked.
This just doesn’t seem like a “he’s just bad at running a company” situation. A company of Twitter’s age and maturity could have run itself for quite some time if Elon just let it continue on. He’s doing this intentionally for some self-serving reason.
Or maybe he was financed to run it down?