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Elon Musk Bought Twitter to Settle His Jet-Tracking Beef, New Book Claims (gizmodo.com)
submitted 2 years ago by to c/technology@lemmy.world
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  • Elon Musk purchased shares of Twitter after unsuccessfully petitioning the CEO to remove a Twitter account tracking his private jet.
  • Musk's personal gripes played a key role in his $44 billion acquisition of Twitter.
  • Musk banned the account after promising not to, highlighting his prioritization of getting his way over free speech.

Archive link: https://archive.ph/ttBv9

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[–] 84 points 2 years ago (13 children)

I think he was trying to get out of Twitter and wanted to do a real life version of his Dogecoin pump and dumps. You know, talk a big game, hype up how the stock is gonna go to the moon after he brings his genius to bare on the company, then dump the stock and pull out of the deal. However, during the hype phase he managed to say some legally binding things and suddenly found himself forced to honor what he thought was going to be empty hype.

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  • [–] 23 points 2 years ago* (1 child)

    He did more than say legally binding things. He signed a contract. That had a clause in it to prevent him from backing out, because the management at Twitter fully expected him to try it. I think he had made several gestures at buying before to try and get some kind of influence over how it was being run, so they drew up the contract to make him put up or shut up.

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  • [–] 8 points 2 years ago (7 children)

    Pretty sure that's illegal

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  • [–] 27 points 2 years ago (3 children)

    That's his entire business model. Just look at starship, hyper loop, solar roofs and Tesla semi. Overblown Tesla stock bubble too. All complete vaporware, but he profits greatly from the hype alone. He belongs in prison as he is a classic conman.

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  • [–] 12 points 2 years ago* (2 children)

    As much as I personally dislike Musk, Starship does not belong on that list. It is the largest and most powerful space vehicle humanity has ever launched successfully and landed! It is re-usable and can potentially carry up to 100 people or 300,000 lbs of cargo.

    Nothing like that has ever been done before, and the advancements in science that will follow humanities expansion into space cannot be overstated.

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  • [–] 2 points 2 years ago (1 child)

    100 people are, like, 19,000 lbs. Why the weight difference between 100 people and just cargo? Because of life support systems?

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  • [–] 6 points 2 years ago

    It's worse than that. The usual way of buying a company is a memorandum of understanding followed by due diligence, followed by signing a contract and then the actual completion. Elon went straight to signing the contract and then had big old shit fit when the Twitter board held him to the terms of the contract and the penalties for pulling out.

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