Elon Musk and Twitter Reach Deal for Sale (Update: WSJ report details Musk’s relationship with Putin) (1 Viewer)

[SaintForLife]

Elon Musk struck a deal on Monday to buy Twitter for roughly $44 billion, in a victory by the world’s richest man to take over the influential social network frequented by world leaders, celebrities and cultural trendsetters.

Twitter agreed to sell itself to Mr. Musk for $54.20 a share, a 38 percent premium over the company’s share price this month before he revealed he was the firm’s single largest shareholder. It would be the largest deal to take a company private — something Mr. Musk has said he will do with Twitter — in at least two decades, according to data compiled by Dealogic.

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Mr. Musk said in a statement announcing the deal. “Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”

The deal, which has been unanimously approved by Twitter’s board, is expected to close this year, subject to a vote of Twitter shareholders and certain regulatory approvals.

The blockbuster agreement caps what had seemed an improbable attempt by the famously mercurial Mr. Musk, 50, to buy the social media company — and immediately raises questions about what he will do with the platform and how his actions will affect online speech globally.

Elon Musk and Twitter Reach Deal for Sale

Twitter agreed to be taken over at $54.20 a share, a 38 percent premium over the share price before it was revealed that Mr. Musk had been buying up the company’s stock.

www-nytimes-com.cdn.ampproject.org

If Musk does what he claims he wants to do it will be a big improvement and good for free speech.

 

[UriUT]

I think GM just introduced an affordable electric SUV for 30k. Tesla's getting competition.

 

[UriUT]

I yeah the tesla stock went from 400 to like 170 in the last year. It is all gonna burn down. SpaceX is still a private company so we have no real idea how bad it is actually doing. Just like the tunnel company it is private.

Who I feel for is all the people that worship him that own tesla stock. I guess I shouldn't because the false promises after false promises should have been a warning.

I read an article the other day he could have easily got a car company for that money and you would be shocked what the list of car companies worth less than 44 billion. That would have been the smart move to get a company that is good at building cars to help with what tesla is poor at. Then the same time he would have a whole new platform to convert.

When I read that he could have got Suzuki car company for half that price I just ha visions of ev jimny's and all the other kei platforms that they own. That would have made a mountain of money

I think tesla's price was going to fall anyway. No way its valuation is worth the combined next 10 auto makers.

What will be interesting is how much further it will fall from its actual valuation because of musks stunts. And his publicity is magnifying all the battery fires to the Tesla that he was able to hide before. And that lawsuit he's in. Terrible image...all warranted.

On another note, there is news coming out of Japan of a climate friendly method of producing hydrogen, high intense heat for heavy industries, and provide electricity. Modular nuclear reactors cooled by helium. Its supposedly safe and doesn't require to be at large water source. Whats important in regards to the electric car market is that hydrogen cell vehicle can compete with battery based vehicles. Tesla will be facing competition.

 

[bird]

I think tesla's price was going to fall anyway. No way its valuation is worth the combined next 10 auto makers.

What will be interesting is how much further it will fall from its actual valuation because of musks stunts. And his publicity is magnifying all the battery fires to the Tesla that he was able to hide before. And that lawsuit he's in. Terrible image...all warranted.

On another note, there is news coming out of Japan of a climate friendly method of producing hydrogen, high intense heat for heavy industries, and provide electricity. Modular nuclear reactors cooled by helium. Its supposedly safe and doesn't require to be at large water source. Whats important in regards to the electric car market is that hydrogen cell vehicle can compete with battery based vehicles. Tesla will be facing competition.

Re: small modular nuclear reactors…

Small modular reactors produce high levels of nuclear waste

Small modular reactors, long touted as the future of nuclear energy, will actually generate more radioactive waste than conventional nuclear power plants, according to research from Stanford and the University of British Columbia.

news.stanford.edu

As for Tesla? As the actual car companies get more into this they will have the potential to beat Tesla into the ground due to economy of scale purchasing of raw materials.

 

[DaveXA]

Re: small modular nuclear reactors…

Small modular reactors produce high levels of nuclear waste

Small modular reactors, long touted as the future of nuclear energy, will actually generate more radioactive waste than conventional nuclear power plants, according to research from Stanford and the University of British Columbia.

news.stanford.edu

As for Tesla? As the actual car companies get more into this they will have the potential to beat Tesla into the ground due to economy of scale purchasing of raw materials.

While that's probably partially true, Tesla had enough production that they've already attained a large degree of economies of scale. Maybe not the same as a GM or Toyota, but they shouldn't be too far off.

That said, I used to want a Tesla, but not so much anymore. There are plenty of other EV options these days.

 

[samiam5211]

Re: small modular nuclear reactors…

Small modular reactors produce high levels of nuclear waste

Small modular reactors, long touted as the future of nuclear energy, will actually generate more radioactive waste than conventional nuclear power plants, according to research from Stanford and the University of British Columbia.

news.stanford.edu

I'm sure Elon will eventually put these on Tesla's and provide a monthly service to have SpaceX send your waste into space.

 

[GrandAdmiral]

 

[Optimus Prime]

Elon Musk restores Donald Trump's Twitter account | CNN Business

Former President Donald Trump's Twitter account has been reinstated on the platform. Trump has previously said he would remain on his platform, Truth Social.

www.cnn.com

 

[SaulGoodmanEsq]

Comedy gold commencing. Also RIP Truth Social.

 

[GrandAdmiral]

Also RIP Truth Social.

It was damn near dead on arrival anyway.

 

[DaveXA]

Comedy gold commencing. Also RIP Truth Social.

Well, apparently Trump isn't gonna play ball. Lol. Likely because he's gotta try and keep his minions on TS.

 

[bdb13]

Well, apparently Trump isn't gonna play ball. Lol. Likely because he's gotta try and keep his minions on TS.

That's pretty hilarious.

 

[SystemShock]

I think GM just introduced an affordable electric SUV for 30k. Tesla's getting competition.

More and more manufacturers are introducing electrics. When Tesla first hit the market, I thought its future eventually was going to depend on loyal customers, kind of like Apple customers, who will continue to buy out of loyalty, as more manufacturers started to jump into the EV market. After this stunt, I doubt that is going to be the case.

 

[RobF]

That's pretty hilarious.

It was reported back in May that he's "generally obligated to make any social media post on Truth Social and may not make the same post on another social media site for 6 hours." So there's that.

Trump's Truth Social posts will have to wait before reposts on other platforms

Donald Trump will have to wait for six hours before reposting his messages from social media platform Truth Social on other platforms, a regulatory filing revealed on Monday.

www.reuters.com

That article also mentions Musk saying he'd un-ban Trump back then too.

 

[samiam5211]

Hopefully Trump goes back to twitter, and sucks what little life is away from Truth Social.

A perfect scenario would be Truth Social being shut down, then twitter shutting down a few months later.

 

[UriUT]

Hopefully Trump goes back to twitter, and sucks what little life is away from Truth Social.

A perfect scenario would be Truth Social being shut down, then twitter shutting down a few months later.

I really hope not that Twitter goes down, sincerely. Ukrainians and to a lesser extent Iranians are using it to spread their message to the west. Its vital and if twitter goes down other avenues will take a bit longer to be effective. I reactivated my twitter to find out where the journalists and analyst are heading and it's a shirt show. There doesnt seem to be a consensus. Mastodon is a mess. Instagram or tic tok? I'm having a hard time seeing tim snyder use those. So far a series of personal web sites...which defeats the raison d'etre of Twitter...fast centralized access to information...the social aspect I was never into.

What I rather see happen is that Twitter, along with all the regulations that accompanies and the zero ad revenue, will bleed him dry to the point that he must sell. The saudis must not be happy. They must ve envision this to greatly soften or control their image much like the liv golf tournament. It can't be for a profit.

 

[UriUT]

More and more manufacturers are introducing electrics. When Tesla first hit the market, I thought its future eventually was going to depend on loyal customers, kind of like Apple customers, who will continue to buy out of loyalty, as more manufacturers started to jump into the EV market. After this stunt, I doubt that is going to be the case.

Yep. And its also a wealth status symbol too, much like Apple. My nieces hate it when their dad drops them off in a Tesla. They just wanted to blend in with everyone else.

Now musk has shat on that image and made his brand a losing brand.

 

[Optimus Prime]

Kanye West returns to Twitter after Elon Musk lifts bans on Trump and others

‘Testing Testing Seeing if my Twitter is unblocked,’ the rapper wrote on Sunday

www.independent.co.uk

 

[MT15]

I really hope not that Twitter goes down, sincerely. Ukrainians and to a lesser extent Iranians are using it to spread their message to the west. Its vital and if twitter goes down other avenues will take a bit longer to be effective. I reactivated my twitter to find out where the journalists and analyst are heading and it's a shirt show. There doesnt seem to be a consensus. Mastodon is a mess. Instagram or tic tok? I'm having a hard time seeing tim snyder use those. So far a series of personal web sites...which defeats the raison d'etre of Twitter...fast centralized access to information...the social aspect I was never into.

What I rather see happen is that Twitter, along with all the regulations that accompanies and the zero ad revenue, will bleed him dry to the point that he must sell. The saudis must not be happy. They must ve envision this to greatly soften or control their image much like the liv golf tournament. It can't be for a profit.

I’m seeing more and more people positing that the aim of Musk and the Saudis is to make Twitter into a right wing echo chamber and failing that, to shut Twitter down. They will not abide with the ability for pro-democracy forces to spread their message world-wide.