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


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53 minutes ago, Francisco 2.0 said:

Musk’s money manager, Jared Birchall, reached out to potential investors this week, offering shares of Twitter at the same price, $54.20, that Musk paid to take the company private in October, the people said.

This.....is fantastic.

"Hey, there's this thing that I paid $X for:"

attachment.php?attachmentid=219381&stc=1

Then Musk goes out and pulls a Spicoli in it, and has the nerve to say "the purchase price was $X, so you should really totally get in on buying it for $X!"

header17full.jpg

Phony Stark must think that people are fucking morons.

 

Sigh.  He's actually right about that.  He'll get psycho crypto bros, Qanons, and diehard Trumpers and insurrectionists to buy-in.

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My recollection is some bonds trader calculated the value of twitter as of a few weeks ago at $8B based on what investors were willing to pay to take the debt off the hands of the original lenders. And that was at least a dozen elron makes-a-mockery-of-himself episodes ago. 

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2 minutes ago, Chopper said:

My recollection is some bonds trader calculated the value of twitter as of a few weeks ago at $8B based on what investors were willing to pay to take the debt off the hands of the original lenders. And that was at least a dozen elron makes-a-mockery-of-himself episodes ago. 

I recall that as well.  And I am 100% certain that the shenanigans of the past couple of weeks have not enhanced that value.

 

So, I ask again....where all those fanbois at?  They were all over this thread a few weeks ago.....now, crickets.

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3 minutes ago, Chopper said:

My recollection is some bonds trader calculated the value of twitter as of a few weeks ago at $8B based on what investors were willing to pay to take the debt off the hands of the original lenders. And that was at least a dozen elron makes-a-mockery-of-himself episodes ago. 

Nope, it's still worth $44 billion...even though it wasn't worth $44 billion when Elmo overpaid for it in the first place.  

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2 hours ago, Nice Guy Eddie said:

I'm predicting that Elon's vindictiveness begins to reach outside of Twitter. I'm assuming that Tesla owners have an email account somehow associated with their ownership, registration, updates, etc. If that email address is somehow associated with a banned Twitter account, maybe just maybe your Tesla may not operate tomorrow.

And if the US govt does something to piss off Elon, maybe SpaceX isn't available for ISS trips.

He’s already got a record of reaching out to other social media platforms to go after people he doesn’t like, going back years, but also up through this week, but I don’t see him going after Tesla owners, because he will bring the government into the equation, the lawsuits will flood in (which will send the stock even lower) and he’ll get booted by Tesla investors, who have already got to be really fucking pissed.

Still, he could pull something like denying them upgrades or something of that nature   Bricking the car would be awesome though,

As for SpaceX, it operates as long as the government allows it to.  It would be a FAFO moment for him.

But I must admit, nothing is off the table with him.  He’s clearly descending into some kind of madness, and he’s willing to destroy Twitter in the process.

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This whole thing reminds me of an old serial that came on Saturday evenings about a successful 19th century snake oil salesman selling his business to a new buyer, Musty Ephron, and all of the past customers got really pissed because Ephron is an asshole with goofy viewpoints who then proceeds to charge a nominal fee for customers to get the "premium" label snake oil, which is really just the old snake oil in a new bottle with a blue label on it (and doesn't even really taste the way the old oil used to).  Everyone gets mad and talks about how they're all going to die without their snake oil and that the community will crumble without access to the snake oil, but they are unwilling to pay extra for this bullshit new blue label when they used to get it for no additional fee. 

The former customers start putting up posters all over town making fun of the new guy and also pinpointing exactly where he'll be later that day.  Then ol' Musty gets mad at them and refuses to sell them any snake oil at all.  Meanwhile, Musty's original business (selling modern conveyances with a new fangled contraption called the internal combustion engine) starts to suffer as his customer base, it turns out, was largely made up of forward thinking individuals who put a great deal of faith in all things modern.  Things get even trickier when it turns out that Musty Ephron sold off a big chunk of his modern conveyance business to finance his purchase of the snake oil business, and now both entities are struggling.

In the next episode, we learn that Ephron's other futuristic endeavor (long distance train travel) may be in jeopardy as Chester A. Arthur himself has been refused the sale of snake oil, which he dearly loves, and has decided that the government will not bankroll this new business for Ephron like it has already bankrolled the modern conveyance and long distance travel businesses.  Meanwhile, thousands of former snake oil users begin to realize that life without snake oil is exactly like life was with snake oil, and further realize that the vast majority (over 90%) of people never tried even a sip of snake oil in the first place (even though the customers were certain that everyone was doing it) and their neighbors and friends rejoice as they rejoin society at large and recognize that they were hiding inside of a bottle of inconsequential nonsense.

I don't remember exactly how it ends, but I think after having been exposed as a fraud with no actual business sense beyond taking advantage of poorly conceived government programs, Musty Ephron ends up moving to an island with a  bunch of illegitimate offspring and performing weird experiments involving human/animal hybrids. He also starts wearing a fun hat. The former snake oil customers discover a new product  called cocaine, being peddled by some oddly muscled up bald guy named Buzzleby Geoffs, and realize that they were sorely mistaken about how awesome snake oil was, as this new stuff has a real kick to it.  Geoffs buys all of  Ephron's old businesses for four or five old greenbacks (that were technically not even legal tender anymore).  After an evening of sampling his own product, he invents space exploration, packs up all the assets of Ephron's old businesses, and launches them straight into the moon on a giant penis.

 

 

 

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22 minutes ago, Brisketexan said:

This.....is fantastic.

"Hey, there's this thing that I paid $X for:"

attachment.php?attachmentid=219381&stc=1

Then Musk goes out and pulls a Spicoli in it, and has the nerve to say "the purchase price was $X, so you should really totally get in on buying it for $X!"

header17full.jpg

Phony Stark must think that people are fucking morons.

 

Sigh.  He's actually right about that.  He'll get psycho crypto bros, Qanons, and diehard Trumpers and insurrectionists to buy-in.

 

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57 minutes ago, Brisketexan said:

He'll get psycho crypto bros, Qanons, and diehard Trumpers and insurrectionists to buy-in.

If there's a securities lawyer here they can explain better than me but Jared is after "accredited" investors only, meaning high net worth or other similar definitions. They could take up to 35 "ordinary investors" (not high worth) so funds they'd get from the general qnut/trumptard types is very limited. The max amount they can raise in this manner is $5M. They could conceivably raise more than $5M by following some additional rules with added disclosure requirements but they'd still be forbidden from making a general solicitation for funds, and the limitation on whom they sell to would still be in place. Those are the ways to avoid registering a publicly traded company.

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10 minutes ago, Samson's Wig said:

This whole thing reminds me of an old serial that came on Saturday evenings about a successful 19th century snake oil salesman selling his business to a new buyer, Musty Ephron, and all of the past customers got really pissed because Ephron is an asshole with goofy viewpoints who then proceeds to charge a nominal fee for customers to get the "premium" label snake oil, which is really just the old snake oil in a new bottle with a blue label on it (and doesn't even really taste the way the old oil used to).  Everyone gets mad and talks about how they're all going to die without their snake oil and that the community will crumble without access to the snake oil, but they are unwilling to pay extra for this bullshit new blue label when they used to get it for no additional fee. 

The former customers start putting up posters all over town making fun of the new guy and also pinpointing exactly where he'll be later that day.  Then ol' Musty gets mad at them and refuses to sell them any snake oil at all.  Meanwhile, Musty's original business (selling modern conveyances with a new fangled contraption called the internal combustion engine) starts to suffer as his customer base, it turns out, was largely made up of forward thinking individuals who put a great deal of faith in all things modern.  Things get even trickier when it turns out that Musty Ephron sold off a big chunk of his modern conveyance business to finance his purchase of the snake oil business, and now both entities are struggling.

In the next episode, we learn that Ephron's other futuristic endeavor (long distance train travel) may be in jeopardy as Chester A. Arthur himself has been refused the sale of snake oil, which he dearly loves, and has decided that the government will not bankroll this new business for Ephron like it has already bankrolled the modern conveyance and long distance travel businesses.  Meanwhile, thousands of former snake oil users begin to realize that life without snake oil is exactly like life was with snake oil, and further realize that the vast majority (over 90%) of people never tried even a sip of snake oil in the first place (even though the customers were certain that everyone was doing it) and their neighbors and friends rejoice as they rejoin society at large and recognize that they were hiding inside of a bottle of inconsequential nonsense.

I don't remember exactly how it ends, but I think after having been exposed as a fraud with no actual business sense beyond taking advantage of poorly conceived government programs, Musty Ephron ends up moving to an island with a  bunch of illegitimate offspring and performing weird experiments involving human/animal hybrids. He also starts wearing a fun hat. The former snake oil customers discover a new product  called cocaine, being peddled by some oddly muscled up bald guy named Buzzleby Geoffs, and realize that they were sorely mistaken about how awesome snake oil was, as this new stuff has a real kick to it.  Geoffs buys all of  Ephron's old businesses for four or five old greenbacks (that were technically not even legal tender anymore).  After an evening of sampling his own product, he invents space exploration, packs up all the assets of Ephron's old businesses, and launches them straight into the moon on a giant penis.

 

 

 

Summary.....Chester A. Arthur was a first-rate asshole.  It always comes back to that.  Everything does.  Way to bury the lede, Samson.

3 minutes ago, Chopper said:

If there's a securities lawyer here they can explain better than me but Jared is after is accredited investors only, meaning high net worth or other similar definitions. They could take up to 35 "ordinary investors" (not high worth) so funds they'd get from the general qnut/trumptard types is limited. The max amount they can raise in this manner is $5M. They could conceivably raise more than $5M by following some additional rules with added disclosure requirements but they'd still be forbidden from making a general solicitation for funds, and the limitation on whom they sell to would still be in place. Those are the ways to avoid registering a publicly traded company.

Yeah, so.....what are the chances that Elmo actually follows US Securities laws here?  If you bid anything over "0% chance," you overbid.

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All of this because he shot his mouth off and people egged him on to actually buy it. I have a buddy who last Friday was still parroting how he is owning the Libs yet couldn’t tell me why. 

 

I said before that I liked him a lot and then he called the dude trying to rescue the trapped kids a pedophile just randomly and I thought what the fuck was that about. 

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Seriously, imagine if everything over $100 million goes back to the treasury or Shriners or Lions Club or whatever. Everyone in your family you ever met has generational wealth and never has to work. What difference does it make what happens to the rest? Really, explain to me the difference in having $100 million vs. $2 billion- as an individual-without referring to Magnitsky sanctions. 

It’s like saying there’s a difference between $50 and $25 in your checking account but on the upper end. 

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14 minutes ago, Brisketexan said:

Yeah, so.....what are the chances that Elmo actually follows US Securities laws here?  If you bid anything over "0% chance," you overbid.

I'm pretty sure blatant securities fraud is among the last white collar criminal offenses you'd want to commit. Especially when he's already been in trouble once with the SEC. However if he's thinking about blatant fraud while raising millions from investors maybe he should check with Liz Theranos first. 

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33 minutes ago, Samson's Wig said:

This whole thing reminds me of an old serial that came on Saturday evenings about a successful 19th century snake oil salesman selling his business to a new buyer, Musty Ephron, and all of the past customers got really pissed because Ephron is an asshole with goofy viewpoints who then proceeds to charge a nominal fee for customers to get the "premium" label snake oil, which is really just the old snake oil in a new bottle with a blue label on it (and doesn't even really taste the way the old oil used to).  Everyone gets mad and talks about how they're all going to die without their snake oil and that the community will crumble without access to the snake oil, but they are unwilling to pay extra for this bullshit new blue label when they used to get it for no additional fee.

beautiful happy endings GIF

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9 minutes ago, 956 Worldwide said:

Seriously, imagine if everything over $100 million goes back to the treasury or Shriners or Lions Club or whatever. Everyone in your family you ever met has generational wealth and never has to work. What difference does it make what happens to the rest? Really, explain to me the difference in having $100 million vs. $2 billion- as an individual-without referring to Magnitsky sanctions. 

It’s like saying there’s a difference between $50 and $25 in your checking account but on the upper end. 

This is some of what I'm wondering about. He's sold tesla stock 3 times this year after telling tesla investors he wouldn't sell any additional shares at all this year. He seems to be having a major liquidity problem and none of the companies he owns, besides tesla, appear to be profitable. So what's his net worth, really? 

To answer your question, if you only have $100M as opposed to $2B you're not going to be able to buy a $40M private jet. Or 3. You won't have multiple palatial estates around the world.  You can buy a super nice boat but not a mega yacht. You're very wealthy but still somewhat constrained by reality. You sure wouldn't be able to fund your alma mater's NIL program with the interest off of 5 or 10% of your net wealth.

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24 minutes ago, 956 Worldwide said:

Really, explain to me the difference in having $100 million vs. $2 billion- as an individual-without referring to Magnitsky sanctions. 

The key distinction is that the dumbest, most pathetic portion of society won't worship you as a god.  Which is what they do right now, because in their minds, accumulating a certain number of "points" (dollars) directly correlates with your merit and value as a human being.

Billionaire = god among men

Regular working joe = he should be grateful for the chance to lick the billionaire's boots

It's a horribly dumb and evil way of looking at the world, but that's how a chunk of society likes to play it, so here we are.....a narcissist toddler (more than one, actually) thinks himself a god.

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So he joins a Spaces discussion with a bunch of journalists, gets asked some questions, gets easily flustered, bails on the Spaces, then it conveniently goes down, and throughout the day he claims it was just a bug, and now he's telling everybody it's back up, as if people didn't realize he was the reason it went down in the first place.

 

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3 hours ago, Francisco 2.0 said:

Now Twitter is recruiting outside investors at the low, low price of $54.20 a share.

But I was told this wasn't about money.

https://www.semafor.com/article/12/16/2022/elon-musks-team-is-seeking-new-investors-for-twitter

 

 

 

 

Pretty sure Trump trading cards are a better investment 

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TIL that Musk spent $1 million on a McLaren and crashed it while showing it off.  

 

https://www.theverge.com/2022/12/16/23513407/elon-musk-equity-investment-sucker-born-every-minute

Quote

Lately, I’ve been thinking a lot about that time when Elon Musk bought a McLaren F1 for $1 million and then immediately drove it into a ditch while trying to show off to Peter Thiel. “You know, I had read all those stories about people who made money and bought sports cars and crashed them,” Musk said to Thiel, according to Max Chafkin’s The Contrarian. “But I knew it could never happen to me, so I didn’t get any insurance.”

 

Quote

Anyway, according to Semafor, Musk is trying to get more investors for Twitter at the original $54.20 per share price he bought the company at before he frightened away advertisers and banned a bunch of journalists.

 

Quote

About that price — remember how Musk decided actually buying Twitter at $54.20 was a bad idea and tried to back out of the deal? Anyone remember that? He accused Twitter of making “false and misleading” statements during their negotiations and tried to cancel the deal. There was a flimsy pretext of bots involved, but it eventually became clear none of that was going to fly, and Musk eventually closed on Twitter, with no concessions whatsoever, at the end of October.

 

 

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3 days ago, Jack Dorsey put up a blog post on Revue, Twitter's full publishing service (hell, I had no idea they had one).  It was an entry about Twitter, and about his time as CEO.  Here's a sample:

 

Quote

I’ll start with the principles I’ve come to believe … based on everything I’ve learned and experienced through my past actions as a Twitter co-founder and lead:

-Social media must be resilient to corporate and government control.

-Only the original author may remove content they produce.

-Moderation is best implemented by algorithmic choice.

 

Quote

The Twitter when I led it and the Twitter of today do not meet any of these principles. This is my fault alone, as I completely gave up pushing for them when an activist entered our stock in 2020. I no longer had hope of achieving any of it as a public company with no defense mechanisms (lack of dual-class shares being a key one). I planned my exit at that moment knowing I was no longer right for the company.

 

 

Less than 24 hours after Dorsey clicked publish, Twitter shut down Revue:

https://www.getrevue.co

 

Quote

We’ve made the difficult decision to shut down Revue.

In January 2021, Twitter acquired Revue as part of an ongoing commitment to enhancing the Twitter experience for writers everywhere. Our goal has always been to make it easy for these writers to connect with their readers and future subscribers on Twitter, opening up new opportunities for readers to better connect with writers and their content. Integrating Revue into Twitter has provided a huge amount of value, informing new product features that give writers more options for connecting with their audiences.

This has been a hard decision because we know Revue has a passionate user base. We’re grateful to everyone who has used our service over the years, and hope we can continue to help you build a community with your readers on Twitter.

 

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42 minutes ago, Francisco 2.0 said:
Quote

-Moderation is best implemented by algorithmic choice.

That's where I stopped reading his post the other day. Gaslighting. Algorithms write themselves and they are pure and perfect! 

 

2 hours ago, Sawbonz said:

Pretty sure Trump trading cards are a better investment 

Not for this thread, so apologies, but I saw speculation that was about money laundering. They conveniently allowed buyers to buy a maximum of 100 of those NFTs at $99 each, or $9900, just shy of the Treasury reporting requirement. 

 

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5 hours ago, Pods said:

It's ludicrous that we rely on any billionaire for a national security asset like spaceflight. We now have a Space Force, but rely on some fickle dickbag to launch anything. It's absurd and reckless.

We need to refund and reinvigorate NASA. 

We could nationalize SpaceX and give it to NASA

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https://arstechnica.com/tech-policy/2022/12/twitter-stiffs-software-vendor-with-8-million-left-on-contract-lawsuit-says/

 

Quote

A lawsuit says Twitter failed to pay a $1,092,000 invoice in a software contract that doesn't expire until late 2024, and that the Elon Musk-led company apparently intends to stiff the vendor on another $7 million worth of payments.

Imply Data, Inc. sued Twitter in California Superior Court in San Francisco County, alleging breach of contract. The lawsuit was filed on Tuesday (see complaint) and reported by Bloomberg today.

 

 

Quote

"For over four years, Imply has licensed its proprietary software to Twitter, and Twitter has paid Imply over $10 million," the lawsuit said. "Twitter has always been very pleased with Imply's product and its related maintenance and support services, so, in mid-2021, the parties extended the term of their software license and service agreement for an additional three years from October 1, 2021, through September 30, 2024."

In May, a few weeks after Musk struck a deal to buy Twitter, the company notified Imply Data that it would not renew the contract again but "acknowledged the License agreement would 'continue in full force and effect' until the end of its term on September 30, 2024," the lawsuit said.

 

Quote

Twitter continued making quarterly payments on the contract until Musk completed the purchase in late October. "However, shortly after Musk's purchase of Twitter closed, Twitter refused to pay the outstanding quarterly invoice, which was due on November 30, 2022, and Twitter disclaimed any obligation to pay any future invoices from Imply, despite the unambiguous language in the software license and service agreement requiring Twitter to do so," the lawsuit said.

Imply makes a database based on Apache Druid open source software as well as products for managing and monitoring Druid clusters.

 

Quote

The New York Times reported on November 22 that Twitter was stiffing some vendors. Imply's complaint notes the press coverage of Twitter refusing to pay vendors and says, "This lawsuit involves one such egregious case."

Imply uploaded the $1,092,000 invoice to Twitter's vendor portal, and the invoice was approved by Twitter on October 5, the lawsuit said. "On November 28, 2022, when Imply accessed the vendor portal, Imply learned that Twitter had deleted the invoice and closed the License Agreement," the lawsuit said.

 

 

Spoiler

Imply says Twitter "also uploaded an internal email chain to the vendor portal to support those actions." The lawsuit said this email chain included a message from Martin O'Neill, head of global strategic sourcing at Twitter, that stated, "A heads up that we will not be paying Imply any longer. If we can flag them in our AP system to not route any of their invoices for approval that would be great, thank you!"

The Twitter executive who received the email, Kristena Bravo, "forwarded that email to other Twitter employees and wrote: 'Can you please cancel all invoices for Imply currently pending in Oracle (if any) and deactivate the supplier using the email below as evidence?'" the lawsuit said.

After reviewing these emails, Imply asked Twitter about the status of the payment due November 30. "Twitter's account payable department notified Imply that the invoice had been 'cancelled' and that, if Imply had any concerns, Imply should 'reach out to [Imply's] Twitter business partner.' Imply has reached out to Twitter to discuss the cancellation of the invoice; however, Twitter has not yet responded in substance to that outreach," the lawsuit said.

Imply is seeking financial damages for breach of contract. "Imply anticipates that Twitter's breach will continue, with the amount in default increasing each quarter until the end of the License Agreement's term... Twitter's breach has damaged and will damage Imply in an amount that will be proven at trial, but which will likely be in excess of $8 million," Imply told the court.

Dispute over whether Twitter can terminate contract

The lawsuit also alleges breach of covenant of good faith and fair dealing, and anticipatory repudiation. The latter term describes when a party to a contract declares they do not intend to live up to their contractual obligations.

"Twitter has expressly, unequivocally, and absolutely repudiated and renounced the License Agreement by declaring that Twitter would not pay Imply and instructing its employees not to approve any invoices and to deactivate Imply from the vendor portal. Twitter has thereby breached the License Agreement," the lawsuit said.

Twitter may argue it had a right to terminate the contract early. Imply's complaint said there is a dispute between the companies as to "whether Twitter had the unilateral right to terminate the License Agreement before the end of its term." Imply is seeking a declaratory judgment that Twitter doesn't have that right.

We contacted Twitter about the lawsuit, but the company reportedly dismantled its public relations team after Musk took over.

 

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6 minutes ago, Chopper said:

That's where I stopped reading his post the other day. Gaslighting. Algorithms write themselves and they are pure and perfect! 

 

 

Oh, I concur; but I was amused by Twitter just canceling the entire service after Jack decided to use it to publish a manifesto.

 

 

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14 hours ago, Samson's Wig said:

This whole thing reminds me of an old serial that came on Saturday evenings about a successful 19th century snake oil salesman selling his business to a new buyer, Musty Ephron, and all of the past customers got really pissed because Ephron is an asshole with goofy viewpoints who then proceeds to charge a nominal fee for customers to get the "premium" label snake oil, which is really just the old snake oil in a new bottle with a blue label on it (and doesn't even really taste the way the old oil used to).  Everyone gets mad and talks about how they're all going to die without their snake oil and that the community will crumble without access to the snake oil, but they are unwilling to pay extra for this bullshit new blue label when they used to get it for no additional fee. 

The former customers start putting up posters all over town making fun of the new guy and also pinpointing exactly where he'll be later that day.  Then ol' Musty gets mad at them and refuses to sell them any snake oil at all.  Meanwhile, Musty's original business (selling modern conveyances with a new fangled contraption called the internal combustion engine) starts to suffer as his customer base, it turns out, was largely made up of forward thinking individuals who put a great deal of faith in all things modern.  Things get even trickier when it turns out that Musty Ephron sold off a big chunk of his modern conveyance business to finance his purchase of the snake oil business, and now both entities are struggling.

In the next episode, we learn that Ephron's other futuristic endeavor (long distance train travel) may be in jeopardy as Chester A. Arthur himself has been refused the sale of snake oil, which he dearly loves, and has decided that the government will not bankroll this new business for Ephron like it has already bankrolled the modern conveyance and long distance travel businesses.  Meanwhile, thousands of former snake oil users begin to realize that life without snake oil is exactly like life was with snake oil, and further realize that the vast majority (over 90%) of people never tried even a sip of snake oil in the first place (even though the customers were certain that everyone was doing it) and their neighbors and friends rejoice as they rejoin society at large and recognize that they were hiding inside of a bottle of inconsequential nonsense.

I don't remember exactly how it ends, but I think after having been exposed as a fraud with no actual business sense beyond taking advantage of poorly conceived government programs, Musty Ephron ends up moving to an island with a  bunch of illegitimate offspring and performing weird experiments involving human/animal hybrids. He also starts wearing a fun hat. The former snake oil customers discover a new product  called cocaine, being peddled by some oddly muscled up bald guy named Buzzleby Geoffs, and realize that they were sorely mistaken about how awesome snake oil was, as this new stuff has a real kick to it.  Geoffs buys all of  Ephron's old businesses for four or five old greenbacks (that were technically not even legal tender anymore).  After an evening of sampling his own product, he invents space exploration, packs up all the assets of Ephron's old businesses, and launches them straight into the moon on a giant penis.

 

 

 

581228C6-07A2-4BE7-9718-23F9837C66D5.jpeg.c44f3a00810716cffe176902275340a9.jpeg

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