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So "X" - nothing to see here. Elon's in control - Part XXX **Threadbans in OP**

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  • Registered Users Posts: 28,939 ✭✭✭✭AndrewJRenko


    Then he's got to pay the legal price for his mistake.



  • Registered Users Posts: 5,922 ✭✭✭Cordell


    He also have a duty to himself and his investors to fight to make that price as small as possible.



  • Moderators, Category Moderators, Entertainment Moderators Posts: 36,306 CMod ✭✭✭✭pixelburp


    There's a whiff of Strong Dear Leader in places; Musk's success is overstated - hyped even - his Twitter debacle an indicator he's not the entrepreneurial Golden Child he might like us to believe in, vastly overvaluing the company. While his Las Vegas car tunnel its own pointer that he doesn't know when to back away from a "mistake". No no Elon, the world will be revolutionised by ... *checks notes* a singe-lane tunnel powered by Teslas.

    Other billionaires have the nous to channel their middle-age crises on simple things like dick-shaped rockets and giant yachts - why can't Musk just be ordinary in his eccentricity?



  • Moderators, Politics Moderators, Social & Fun Moderators Posts: 15,444 Mod ✭✭✭✭Quin_Dub


    I would have thought that Strong leadership was admitting the mistake and moving on.

    What Musk is doing is blaming everyone but himself for his decision to agree a stupid price (a stock price number associated with joke about weed) and agreeing to a deal without due diligence.

    A combination of poor impulse control, arrogance and hubris is not a great combo for a "leader" to be honest.



  • Registered Users Posts: 33,580 ✭✭✭✭Penn


    It's also important to make clear he did not make a mistake, he made a choice. From reading the court filing from Twitter, the diligence checks were part of Musk's original offer, but when making his final offer, Musk made the choice to take that out of the contract to try push the deal over the line.

    30. Having obtained these commitments, Musk announced in an April 21, 2022 securities filing that his offer was no longer conditioned on financing or subject to due diligence:

    At the time of delivery, the Proposal was also subject to the completion of financing and business due diligence, but it is no longer subject to financing as a result of the Reporting Person’s receipt of the financing commitments . . . and is no longer subject to business due diligence.

    Musk proclaimed himself prepared to begin negotiations “immediately,” and confirmed he was “exploring whether to commence a tender offer.”



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  • Registered Users Posts: 28,939 ✭✭✭✭AndrewJRenko


    Who are 'his investors'?

    Tesla has investors, I know - but who are the 'his investors' that you refer to?



  • Moderators, Politics Moderators, Social & Fun Moderators Posts: 15,444 Mod ✭✭✭✭Quin_Dub


    He went looking for outside funding initially - There are a few hedge funds and I think that Larry Ellison committed some money as well.

    Musk can't afford the $44B on his own - Most of his wealth is locked into Tesla stock that he can't really sell.



  • Registered Users Posts: 6,667 ✭✭✭Allinall


    He was only putting up about 45% of the purchase price himself. The rest was coming from a combination of bank loans and private investors.



    "On April 20, Musk disclosed that he had secured financing provided by a group of banks led by Morgan StanleyBank of AmericaBarclaysMUFGSociété GénéraleMizuho Bank, and BNP Paribas, for a potential tender offer to acquire the company.[26][27] The funding included $7 billion of senior secured bank loans; $6 billion in subordinated debt; $6.25 billion in bank loans to Musk personally, secured by $62.5 billion of his Tesla stock; $20 billion in cash equity from Musk, to be provided by sales of Tesla stock and other assets; and $7.1 billion in equity from 19 independent investors"



  • Registered Users Posts: 12,403 ✭✭✭✭TheValeyard


    Is Musk just trolling the world at this stage?

    All Eyes On Rafah



  • Registered Users Posts: 28,939 ✭✭✭✭AndrewJRenko


    I wonder if they were all dumb enough to commit to the price without doing due diligence too? I doubt it, tbh.



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  • Moderators, Category Moderators, Entertainment Moderators Posts: 36,306 CMod ✭✭✭✭pixelburp


    Basically, and the worst part is the world's (social) media keeps falling for it; Musk's brainfarts generate clicks and views so of course, Elon Musk Eats Sandwich will earn a headline and viral traction. It's tedious.



  • Registered Users Posts: 5,922 ✭✭✭Cordell


    It's tedious just because you guys are constantly chasing up his brainfarts, you must love their smell :)



  • Posts: 5,917 ✭✭✭ [Deleted User]


    The bang of sour grapes and projection off this.

    Thankfully only have to use twitter for pen test research, and was looking forward to him buying it and making my job easier.



  • Registered Users Posts: 13,434 ✭✭✭✭kowloon


    I suppose an investment in Tesla is an investment in Musk seeing as the company's value has as much to do with Musk's persona as it does with making cars. The car company alone is struggling to keep up with the big names. Every time Musk does something stupid he erodes his own reputation and by extension that of Tesla. But the mistake here is his own, afaik anyone else putting money behind the bid owes nothing if the deal is broken, it's all on Musk personally.



  • Moderators, Politics Moderators, Social & Fun Moderators Posts: 15,444 Mod ✭✭✭✭Quin_Dub


    Tesla are on the downward slope to be honest.

    The Volume manufacturers will just swamp them - they already are truth be told.

    I'm sure they'll continue as a small volume "niche" car maker , but any idea of them dominating the future car market is well and truly busted.

    The Tesla Stock price is never getting back to the crazy valuations that made Musk the richest man in the world for a while. In fact I wouldn't be surprised to a see someone like Nissan buying them out in a couple of years as a way to establish a premium brand in the future Electric world.



  • Registered Users Posts: 33,580 ✭✭✭✭Penn


    The biggest thing Tesla have going for them is the fact they're not electric cars; they're Tesla's. Same way you had iPhones, and you had smartphones. Yes, they're one in the same, but the name carries significance in terms of branding and recognition.

    The issue is that Tesla appears to be running out of road. More negative issues with the vehicles keep cropping up (significant issues with their self-drive function, door handles, having to reboot the car if the software freezes when parked), and while Steve Jobs was always fairly popular, Musk's name is becoming more toxic. As more car manufacturers catch up to the majority of what Tesla's do (while maybe not including some of the features which are more troublesome), Tesla might not be able to keep as much of a lead as they once had.

    Also the Tesla Cybertruck is the ugliest f*cking thing I've ever seen.



  • Moderators, Category Moderators, Entertainment Moderators Posts: 36,306 CMod ✭✭✭✭pixelburp


    Also the Tesla Cybertruck is the ugliest f*cking thing I've ever seen.

    It really, truly is. It is astonishing the design ever made it that far. The ball bearing incident icing on the cake. Especially when the various road cars made pains to look like normal, stylish sedans.

    Agree with the rest as well. Tesla stole a march, and arguably dragged electric cars screaming into the mainstream - it's easily forgotten just how pathetic and bubble-car ugly electric cars were before then. Their reputation being that of a niche for eccentrics and hippies.

    Tesla normalised the concept but in opening the door, are now getting trampled by the rest of the automotive industry, all 100 years of cumulative power and money. Their response was to design the àss ugliest truck in a genre not exactly known for aesthetics in the first place.



  • Registered Users Posts: 28,939 ✭✭✭✭AndrewJRenko


    If that's the case, then the Tesla board have a duty to rein him in, get him to STFU and stop doing stupid stuff on the market. That's their duty to shareholders.



  • Registered Users Posts: 13,434 ✭✭✭✭kowloon


    I think the only thing that has happened to him thus far is the trouble he got into with the SEC over his tweets about taking Tesla private.



  • Registered Users Posts: 28,939 ✭✭✭✭AndrewJRenko


    That's a pretty big thing for a quoted company



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  • Registered Users Posts: 4,242 ✭✭✭brokenangel


    I am no fan of Musk, believe me

    But why would anyone take over twitter. When he said he was taking over it was a huge problem identified about bot accounts. He asked for it to be cleared up and they have totally failed.

    Even Ireland, which is a tiny country on the edge of Europe with no power in the grand scheme of things, has a flood of bot accounts to push a political agenda.

    Why would you take on that bullsh**t when you can sell cars to people who think they are buying the next "apple"



  • Registered Users Posts: 16,817 ✭✭✭✭y0ssar1an22


    at least the amount of bots and fake accounts/followers should come out. if its worse than the 5% they claim, it'll ruin the platform.

    and if worse then the 5% they claim, it'll lead to a huge lawsuit by investors that were mislead.

    all in all, tis a win for free speech.



  • Registered Users Posts: 13,434 ✭✭✭✭kowloon


    The problem is there is no platform out there that's not up to its eyes in bots, not anything close to the size of Twitter anyway. So nothing will change.



  • Registered Users Posts: 5,273 ✭✭✭xxxxxxl


    They can ban accounts on the Right yet cant find bots. does not compute. 🤔



  • Registered Users Posts: 16,817 ✭✭✭✭y0ssar1an22


    so just let it carry on? musk wants to make everything public source.

    i reckon jack dorsey knew exactly what was going on hence his willingness to cash out



  • Registered Users Posts: 19,180 ✭✭✭✭Tony EH


    Victory at all costs can sometimes end in a spectacular defeat.



  • Registered Users Posts: 13,434 ✭✭✭✭kowloon


    I don't think it matters what they want, bot accounts exist in large numbers as long as it's easy to make an account. The alternative is to require proof of identity or some other barrier to entry and then you might control most of the bots but you drive away genuine users too.

    Half the accounts on this forum are reg or sock-puppet accounts, given its size Twitter or any other large social media platform is crawling with every type of account on top of those with no agenda.



  • Registered Users Posts: 13,434 ✭✭✭✭kowloon


    I love to see **** people brought down, but I don't believe in karma. Arseholes thrive at the top of the food chain.



  • Registered Users Posts: 5,273 ✭✭✭xxxxxxl


    bots are not people why can't we get the basics right. The people accounts are generally trolls.



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  • Registered Users Posts: 18,472 ✭✭✭✭Bass Reeves


    How can investors sue themselves. Yes if something was hidden in the accounts recently then newer investors could but this effects virtually all investors so suing is not an option

    Slava Ukrainii



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