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Elon Musk: Officially a fraud and piece of shit. Official or unofficial war criminal?


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17 minutes ago, HenryJames said:

 

 

I really don't keep up with leveraged buyouts and takeovers.  In fact, I'm just a fucking dumbass.

But Elon talking about bankruptcy 2 weeks after taking over has got to be some kind of record for these kinds of things.  

I was told he was a visionary and a business genius.  

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4 minutes ago, Francisco 2.0 said:

 

I really don't keep up with leveraged buyouts and takeovers.  In fact, I'm just a fucking dumbass.

But Elon talking about bankruptcy 2 weeks after taking over has got to be some kind of record for these kinds of things.  

I was told he was a visionary and a business genius.  

Maybe the dude has gone full Thomas Crown.  The Met better start watching their Impressionist wing

 

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26 minutes ago, DefinitelyNotHollywoodColt said:

He’s going to announce he is taking a leave of absence to focus on his mental health and then be promptly checked into a psychiatric hospital.

He’s manic as fuck, doesn’t sleep, and is watching everything crumble around him. 

he doesn't have a problem.  We are a problem.  Jesus, he is so genius we should just stop being contrarian jealous sheep and listen to him.  

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37 minutes ago, DefinitelyNotHollywoodColt said:

Two questions:

Who is Anthony DeRosa?

Is that really Anthony DeRosa?

My first thought as well. It demonstrates how quickly Elon has destroyed whatever trust people had in Twitter as a source of information. I don't know how he gets it back at this point short of backtracking every move he's made up to this point and bringing in a professional CEO.

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Roth leaving is a real holy shit moment.

this is *never* good:

Robin Wheeler and Yoel Roth are the two people who hosted that Twitter Spaces event *yesterday* that was supposed to calm down advertisers.

how fast can you burn $44b to the ground? Elon is showing us in real time!

 

Edited by NoName
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58 minutes ago, DefinitelyNotHollywoodColt said:

He’s going to announce he is taking a leave of absence to focus on his mental health and then be promptly checked into a psychiatric hospital.

He’s manic as fuck, doesn’t sleep, and is watching everything crumble around him. 

The John Gruden of Billionaire CEOs.

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Yeah, my company has that horseshit as well.  It's well known throughout the company that reporting anything of consequence through those channels is a sure fire way to make sure your name is at the top of the heap when the next round of layoffs comes around.  No one with a brain thinks ethics hotlines / ombudsman departments / etc are anything other than a way to cull the herd at nut-cutting time.

Yeah, most people don’t realize that HR’s main responsibility is to minimize liability for the company. You’re naïve if you think HR will have your back on anything of importance.
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5 minutes ago, Hefeweizen said:

Hang on, where are the Billy badasses that were telling everyone that the richest man in the world was super smart and was going to 4d chess this thing up everyone’s ass?  

Damn this has been the year for schadenfreude.

Putin

Musk

Aggy football

Yankees baseball.

 It’s delicious.

beautiful happy endings GIF

And if he completely gets rid of the verified blue checks in favor of the purchased blue checks....

Clueless Movie Aww GIF by filmeditor

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Jack Dorsey and the old board are going to offer Elon $5B to buy back the company. Elon might say yes.

I imagine there are some remaining employees that are will aware that some of Elons orders will wreak havoc with the system but they’re not being asked about downstream impacts.  Sometimes if no one cares to ask you, then the best course of action is to just follow orders. 

Edited by Nice Guy Eddie
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The resignations today (Thursday)*; ya gotta think that they went to Elon and said A and B needed to be done immediately, and he just blew it off.  And they sure as hell don't want to be around because they know some shit is about to go down.

Also, you have to wonder about those banks and others that pitched their lot in with Elon.  I mean, I don't give a fuck if Larry Ellison threw in a billion and loses it, but you know he's probably uber pissed now.  And that Saudi sovereign fund that took their $2 billion in cashed out stock and re-invested it with Elon? They are going to want it back, some how.

 

 

*Twitter's demise is just happening faster and faster.  This is on par with a ponzi scheme imploding.

Edited by Francisco 2.0
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In the past couple hours I've had direct discussions with a Harvard Business School prof, two Fortune 500 CEOs, a senior VP at Bloomberg, and the Dean of the McCombs School and they were unanimous in saying that a company may not need a SVP of Sales if that company has no potential sales relationships or targets. #advantageElon

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27 minutes ago, Nice Guy Eddie said:

Jack Dorsey and the old board are going to offer Elon $5B to buy back the company. Elon might say yes.

I imagine there are some remaining employees that are will aware that some of Elons orders will wreak havoc with the system but they’re not being asked about downstream impacts.  Sometimes if no one cares to ask you, then the best course of action is to just follow orders. 

MySpace was sold for $580 million to Rupert Murdoch in 2005, who sold it in 2011 for $35 million.

And given everybody that has left twitter, they could easily start up another social media platform, have some instant credibility, and they probably have existing relationships with advertisers that they could tap into.

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I gotta tell you.....I expected this to be something of a shitshow, but that the transition would still go "well enough" that there would be some genuine debate about whether the process was a net positive or negative.

This shitshow staged inside a dumpster fire happening center arena of a goat rodeo that is actually happening right now and fast as hell?  I did NOT see that coming.  This is truly insane.

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47 minutes ago, Brisketexan said:

I gotta tell you.....I expected this to be something of a shitshow, but that the transition would still go "well enough" that there would be some genuine debate about whether the process was a net positive or negative.

This shitshow staged inside a dumpster fire happening center arena of a goat rodeo that is actually happening right now and fast as hell?  I did NOT see that coming.  This is truly insane.

 

We know now without a doubt Elon is a dumbass.

The easiest, most simple thing he could have done when he took ownership was to have a 60 day or so moratorium on everything: hiring, firing, content moderation, verification, the works.  Give people enough time to prove their worth, get a grasp on the situation internally, reach out to advertisers, make sure the outgoing board and whatnot left everything buttoned up, everything.

The absolute worst, hardest and stupidest thing to have done is...what he's currently doing.  And to be honest, I'm baffled at the absolute lunacy of some of the things that have transpired. If we as outsiders, having only what media reports and others have reported believe it is a dumpster fire, what the hell are conditions like inside their offices? If the first 10 days or so were hectic and head scratching, the last 2-3 have been downright stupifying.

Elon has done a lot of damage to his reputation.  Not to the fanbois, because he can do no wrong. But to the neutral observers?  Incalculable.

 

 

Edited by Francisco 2.0
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1 hour ago, Nice Guy Eddie said:

Jack Dorsey and the old board are going to offer Elon $5B to buy back the company. Elon might say yes.

The thought has occurred to me that Dorsey was playing a long game. I haven't seen anyone who claims to be friends with elon say that his behavior now is any different from what they've encountered on a regular basis in the past. If you knew what he was like and how incompetent he'd be at managing a complex situation with many stakeholders, then his complete fuckup of twitter within 2 weeks could have been entirely foreseeable. It seems like the entire enterprise will end up in bankruptcy court in the not too distant future, and a sale will be up to the trustee.

1 hour ago, Francisco 2.0 said:

The resignations today (Thursday)*; ya gotta think that they went to Elon and said A and B needed to be done immediately, and he just blew it off.  And they sure as hell don't want to be around because they know some shit is about to go down.

 

From scrolling Mike Masnick's twitter feed it's really incredible how much shit went down at twitter hq today. I was going to say violating the FTC consent order was the biggest issue but after reading through just the past couple hours of what he's covered there, I'm really not so sure.

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Hang on, where are the Billy badasses that were telling everyone that the richest man in the world was super smart and was going to 4d chess this thing up everyone’s ass?  
 
Damn this has been the year for schadenfreude.
 
Putin
Musk
Aggy football
Yankees baseball.
 
 It’s delicious.
You forgot OU sucks.
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1 hour ago, Francisco 2.0 said:

Elon has done a lot of damage to his reputation.  Not to the fanbois, because he can do no wrong. But to the neutral observers?  Incalculable.

Neutral observers?

What about the investors?  Who the fuck wants to trust investing big bucks with Elon at this point? Or loan him big bucks? He had absolutely no plan, is changing his mind daily about shit he dreams up or some random twitter user sends his way, is making masturbation jokes, doesn't seem to care about the FTC (probably is wondering why a floral company has anything to do with twitter), and all of this is happening very publicly, which, as others have said, makes you wonder about the shitshow we aren't seeing.

The fact that he doesn't hide his stupidity and is publicly throwing shit on a wall to see what sticks should scare the hell out of anybody who would do business with him.

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1 hour ago, Francisco 2.0 said:

 

what the hell are conditions like inside their offices? 

 

 

image.gif.45b29ea681db62c2d9537966c2927d13.gif


In all seriousness I bet Tesla and SpaceX are loving this, while Musk fucks with his $44B fidget spinner, the other two companies he ‘runs’ are likely relieved to get down to work without him twiddling with everything.  
 

When I ran Tac Ops for a VP, I just need his decision then to get the hell out of the way so I could execute to his thoughts on comp and ben, travel, headcount horse trading, etc.  

When dad was still AD USAF he’d loathe visits by O7+ types because real work ground to a halt as all his airmen had to do sad shit like clean out the smoke pit and rake leaves…not doing those things would inevitably lead to some O5 EA passing on that General So and So was going to personally conduct the next readiness, thus making everyone else miserable.  
 

Can’t imagine what a visit by Musk be like. 

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Yes, let's trust our banking to Twitter.   

https://www.theverge.com/2022/11/10/23452488/elon-musk-twitter-bank-q-and-a

 

Quote

Elon Musk seems intent on turning Twitter into a bank, complete with what he describes as a “high-yield money market account,” debit cards, checks, and loans. He described his plans during a last-minute meeting with staff today, and you can read a full transcript of that here.

 

 

Quote

Musk broached the topic of payments during his introduction, saying that “I think there’s this transformative opportunity in payments,” adding that the goal is “enabling people on Twitter to able to send money anywhere in the world instantly and in real-time. We just want to make it as useful as possible.” He said that the feature, along with “video content and compensating content creators” and improving search, is a “high priority.”

 

 

Quote

What will TaaPS (Twitter as a Payment Service) look like? Imagine if every verified Twitter user gets a balance, which they can use to send money to “anywhere in the system.” In theory, that could mean something like tipping other users or paying for paywalled video content, a feature that’s reportedly been floated at the company.

 

 

Spoiler

Twitter will set up a “high-yield money market account so that having a Twitter balance is the highest-yield thing that you can do,” according to Musk. Instead of traditional banks’ “complex and expensive” system of credit cards, savings and checking accounts, CDs, and the like, Musk says you’ll have “one balance on Twitter that can simply go positive or a negative.” He said this will let Twitter pay more in interest for positive accounts and charge less interest for accounts in the red.

For places that don’t accept Twitter payments, Musk says you’ll get a debit card tied to your balance and even traditional checks if you want them. “If you address all things that you want from a finance standpoint, then we will be the people’s financial institution,” he added. When an employee commented that it sounded like Musk wants to build a bank and asked if it would offer loans, the CEO responded: “well, if you want to provide a comprehensive service to people, then you can’t be missing key elements.” 

In his speech, he makes the whole thing sound easy. “Payments really are just the exchange of information,” he said “from an information standpoint, [there’s] not a huge difference between, say, just sending a direct message and sending a payment.” He does admit, though, that there are legal hurdles to clear, and the company is looking to get a money transmitter license in Washington, according to a report from Platformer. The report also says that Esther Crawford, who has been in charge of rolling out the new Blue service, has been named CEO of Twitter Payments. 

It’s worth pointing out that there’s a massive difference between storing user info and money. If your account gets hacked and your DMs are leaked, it could be a pretty bad day for you. If your bank gets hacked, you could wind up not being able to make rent.

Musk is no stranger to high-stakes enterprises — he also heads companies that sell cars and launch rockets, both of which can be deadly if done wrong. But Tesla and SpaceX have a lot of things Twitter doesn’t have right now. Namely, executives and employees in charge of safety. Musk just laid off almost half the company, which affected core engineering teams, and there have already been some cracks starting to show that may be a result of that. Also, I might not want to navigate the legal and ethical red tape of starting a bank if my chief privacy officer, chief information security officer, and chief compliance officer had all just resigned.

While it’s hard to imagine the average Twitter user actually wants to use the platform as a bank, the idea isn’t completely out of the blue. Musk has said before that he wants to turn Twitter into “X, the everything app,” similar to China’s WeChat. (“Everything” does, in fact, include banking services.) Musk also has a history with banking, as he helped found PayPal, a fact one employee referenced when asking about the company “embarking on a payments journey almost from scratch.” 

Twitter co-founder Jack Dorsey has also built a successful payments company called Block, which is behind the Square payment platformand Cash App.

 

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image.gif.45b29ea681db62c2d9537966c2927d13.gif




I just referenced this gif in talking to GOLL about this shitshow an hour ago. This whole thing….it’s just incredible to watch. This may go down in history as one of the most disastrous business meltdowns of all time. And it’s happening at ludicrous speed. I think Elon has gone plaid.

Also….any of you who say “yes” to the question of “would you deposit all your money in the Bank of Elon?” need to be put under conservatorship immediately.
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