Why Even the Twitter Whistleblower Might Not Save Musk
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- Опубликовано: 21 сен 2024
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Elon and Twitter are headed to court, with the latter suing the world's richest man for trying to back out of their purchase agreement. Now Elon has had some good news this week, in the form of whistleblower Peiter ‘Mudge’ Zatko, but it still probably isn't enough to save him...
Imagine waiving your right to due diligence and then complaining you got conned
So he should just do nothing?
@@theobserver3753 Why are you typing these words?
@@theobserver3753 yes
@@theobserver3753 He had a chance to do something, he literally signed that right away.
The law should apply to everyone, including the richest people in the world.
Don't worry, he's up against the other richest people and institutions in this case
Including left-leaning people? That's quite a hot take.
Sadly don't
@@tomlxyz Thank f**k. Elon has been an absolute prick in the a*s for such a long time now. First he said he was going to accept cryptocurrencies for Tesla and then he pulls out, now he wants to buy Twitter and pulls out - what is going to be next? He has a cult-like following, with people thinking he is some kind of mastermind genius (I wouldn't be surprised if many of his fans think that he single-handedly built the SpaceX rockets) but in reality all he is good at is what this video pointed out (showmanship, disruption etc.).
Maybe this lawsuit is going to put him in place, because at the moment he probably thinks he's greater than a god and that he can get away with everything (but hey, in the end, he did get away with everything, up until this point).
@@annoyingcommentator1582 Yes. It’s just grifter clowns like this one are more likely to be in breach. At least he has his army of lick spittle fanboy simps to make annoying comments on his behalf though eigh.
Not the first time musk starts a legal problem with lies and losses the lawsuit
not the 7th time either
Great video (watched on Nebula), though one important thing to note: You should really clearly separate between Bots and mDAUs (monetizable daily active users) as that is an aspect Musk tends to conflate (as it can be hard to understand for regular people and this confusion plays to his advantage).
To make a long story short, both twitters statements on mDAU and Zatkos claims regarding Bots can be valid at the same time.
Twitter could theoretically have a far higher than 10% number of bots, though as long as they do not count those as part of their mDAU numbers, that has no effect on any potential claims concerning their public disclosure.
Personally I would also like to add that I have a high level of confidence in Zatko being truthful in his claims, I have followed him and his reputation for about a decade, thus having no reason to doubt him.
Great point, I don't see people bringing this up often enough. Additionally, and while it is a bit of a nitpick, he didn't waive his right to due diligence, he basically said as long as the SEC filings are accurate, those numbers should be reliable, and that's why the section about being able to get any data from Twitter that is materially relevant was part of the deal, so Elon could verify that the numbers the SEC has are valid, and so long as none of the info coming out changes the financial reality of the company as reported to the SEC, Twitter will likely end up running this suit.
Just a random question, is the video content different on Nebula or is it just a way to support like Patreon?
@@ks_scuffed Video content is idential to YT and the Patreon. Like on the Patreon, they are just released a bit earlier on occassions when the topic isn't time sensitive. Also, they cut out the references to the TLDR store though not having watched on YT in a while I don't know how prevalent those are nowadays. Creators just get a lot more per view on Nebula and it is very affordable for what is offered so I tend to use it where possible.
@@exp2745 I just really wish there was a comment section on Nebula. I often learn more about a topic from people who use the comments to provide additional details and information, just like this thread. I’m a Nebula subscriber because it’s so affordable and I like the idea of supporting high quality creators without needing to do a Patreon for each one individually. But I still usually watch on RUclips, except for when the creator explicitly states that the Nebula version is longer or reference another video of theirs that weren’t able to post on YT because of terms of service or demonetization.
@@ellicel does nebula have ads?
This new account is absolutely incredible - thank you! I watch on nebula and this new addition is exactly the kind of content that attracts me to tldr.
Elon must pay for twitter, someone with his level of power and money can't act like a child without any consequences. He signed the contract, he knew what he was buying, he just realized later that he did a bad deal in the heat of the moment. Live with the consequences
I agree with everything but one thing... He is not rich, all is debt man. It is just an illusion.
Everything is weird about this case, like Twitter initially really not wanting to be bought with the "poison pill" fiasco and all. Maybe there's more to the story than "child" -ish actions. Musk likes taking risks, and he kind of hates Twitter and how they handle things, so maybe his plan was to f*** with them and maybe buy them if he can strike a much cheaper deal, except he went a little too far perhaps. Maybe Twitter baited him to sign a contract he really shouldn't have, I don't know.
Let's say I agree to sell you 10 pounds of Angus beef. After telling you it is Angus beef, you agree to pay me $6 per pound.
When it comes time to pay me, you discover that it is only 2 pounds of Angus beef and 8 pounds of of assorted other beef.
Should you still be on the hook for $60, after I misled you about the quality of the product I was selling you?
@@Charles-mz7rm it's a very small profile case example, so it doesn't work (you don't write extemely detailed contracts with multiple clauses to buy a piece of meat). But if I had to make a comparison, let's say everybody else who buys the meat gets to inspect the product before deciding to buy. You then explicitly threw away that right to examine the product for its quality and even claim to buy the product not despite of its issues, but because of its issues to fix said issues.
@@chinguunerdenebadrakh7022 OK, let's use something more akin to the current situation.
Let's say that I have a giant dairy farm. To make it simple, let's say that the publicly traded value of my dairy farm is 10 million dollars, and my stock is currently trading at $20 per share.
You decide that you don't like me or how my business is run, and you decide you want to purchase it wholesale and "fix it up". Based on the current market value, you offer to buy shares at $30 each, and my board and the stockholders agree to sell to you.
During this process, it comes out that I have been misrepresenting my income and the value of my company for years. I have been misleading my stockholders about the quality of my beef and about how much money the company actually makes.
At the very least I should be charged with fraud. You would not have offered to pay $30 per share if you knew the value and income of my company was inflated.
After watching this video I’m left asking: Why don’t all courts function like the one in Delaware?
Not an expert, but my guess is it’d be hard for anything that relies on a jury to function like that. Juries aren’t the benefactors of years of legally training and experience, so while they can be instructed to act a certain way, they might ultimately be swayed by emotion/showmanship to a greater degree.
Beyond what Bryan said, Delaware's Court of Chancery also has an extremely high level of competence in this area because of the number of corporations who claim their headquarters in that state to take advantage of their favorable tax laws. Basically they continuously litigate some of the highest level business deals between many of the largest U.S. companies, giving the judges an essentially unrivaled level of experience with the deep nuances of corporate and contract law.
@@douglasmeredith And it's also in Delaware's best interest to make sure the court applies an even hand to all parties. Businesses might be unhappy they can't cheat in the court, but it also means their rivals and opponents can't cheat either, which makes it very valuable to them. Because of this trust, and the tax breaks they give, Delaware gets a lot of business despite how small they are.
Finally, an information channel that reports facts. I know, right? Good job lads.
Decent job, but they're not lawyers and often exceed their expertise
Zatko's got a huge reputation it doesn't seem likely he is wrong, exaggerating or lying. Security guys entire careers are based on integrity. He'd be risking self ruin to tell any kind of porky.
Fingers crossed the grifter gets his due.
@@redred7289 %100
Another commenter wrote:
You should really clearly separate between Bots and mDAUs (monetizable daily active users) as that is an aspect Musk tends to conflate (as it can be hard to understand for regular people and this confusion plays to his advantage).
To make a long story short, both twitters statements on mDAU and Zatkos claims regarding Bots can be valid at the same time.
Twitter could theoretically have a far higher than 10% number of bots, though as long as they do not count those as part of their mDAU numbers, that has no effect on any potential claims concerning their public disclosure.
The video feels sped up... maybe if the video is a little on the longer side, just mention it at the beginning instead of speeding it up
Waving the right for "due dilligence". I have no words.
You’d think they’d at least use a spellchecker…
this is strange as ANY social network has at least 62% of accounts as socks or/and bots. The engagement is a question of relevance, low relevance groups with high engagement have low bot counts, high relevance groups have high bot counts - I wonder how twitter normalises this or does it just 'fake' it... ???
Twitter vs Elon Musk
I really want both to lost. Seriously, both are ruining this world in their own way. I hope both take each other down to oblivion.
Elon musk help with the space rocket.
and pushing the whole transportation fueled through alternative means, same with the house energy. Twitter on the other hand is just bad.
How is Elon musk ruining the world?
@@gothicgolem2947 promoting a cryptocoin by tweeting dogecoin or whatever. and ruining thousands and thousands of peoples life saving . though its their fault for falling for that shit. still, elon should be held accountable.
@@babananabanana9163 promoting a crypto currency is hardly ruining the world and how is he ruining anyones lives by promoting a online coin? By selling cars?
It seems his play was to have a reason to sell a gazillon stocks from Tesla at its peak price -knowing it was in bubble territory- with the excuse of buying Twitter, just for later backing off of that purchase.
Just an uninvolved layman's idle theorizing, of course. Nothing to be SLAPPed for. :v
@@JoshSweetvale of course!
Less than 5% you use 5%
I'll have to disagree with the part that mentioned the fact that he knew that there were more bots because the price of the company would take into account what they officially publish to the CES. Also because it would be a federal crime, no? Meaning that the company would face consequences and possibly suits from investors as well as people that paid for adverts, meaning that the value of the company would change significantly, possibly even going bankrupt.
Sell half your stock
Do a split
Decide not to buy
Profit
Misspelling diligence entirely, too funny.
Time: 0:23
And: 8:01
Hyperloop. Self driving. Going to mars. Starlink which will not work the way he has told everyone. Affordable cars.(which is the reason why people invested). Battery replacement on warranty. That he created Paypal. That he created Tesla. That he was poor. That he started his first company with nothing, when in reality his father and mother gave him all the money he wanted. That he promised semi truck. That he promised a truck. That he promised a sports car. That he promised a robot, which is a human dancing on stage btw, haha xD Etc, etc. The list is long! xD He makes Elisabeth Holms look like an ant.
@Adam - And i am Batman! Cant you guys come up with other excuses for that con artist. Seriously, it is getting so old now. Your words every time... They are either working on it or wait another year! xD
- I dont care if it is 20.69 and 1mill testers, it is NOT going to happen, i am sorry. The car could not even stop for a child, let alone drive itself. HERE WE GO AGAIN... wait another year! xD Wake up and smell your farts brother. xD
- BUt, BuT, But Elon said the rockets will go to mars when he started spaceX company. Again, same tactic... Promise a lot of crap and hope that musk cult bites! And i can promise you this, the starship he has promised is not going to take you anywhere.
- Wow, are you looking over what you say. I am not even going to entertain this. Like seriously!🤯
- So Elon who is the Ceo of Tesla that has access to internal data, promise affordable car knowing what you just wrote. Isn't that the definition of a con artist or scam? xD That either they sell it higher or people buy someone who bought car to sell for more, does not work anymore. Because people are waking up in masses and even documenting that crap quality of TESLA. Please take a look at youtube, even tesla fans are running away now.
- Well to be honest you did not really say anything at all. He never delivered what so ever, just lived of the success of Tesla and others. Why do you think we jail people like Elon Musk. If you think what elon did is okey. Then why not free Trevor Milton, Frank Abagnale, Elisabeth Holms, Bernie Madoff, etc, etc? Because if Elon gets away with this, your life will be miserable. Because now it would be legal to do it. And the real Con artist will now be free to do what ever they want. You could not even afford a bottle of water when they are done with you. Seriously, you need to wake up.
@Adam - You cant search inside a musk rats webiste and expect real facts xD Here i can help you a little bit...
1: a driver using Tesla's FSD prototype drives towards a child crash-dummy and hits it.
2: In May of 2018, two Fort Lauderdale teens were killed and a third was injured after the Tesla Model S driven by 18-year-old...
3: A Tesla crashed at a school, injuring 6 children and an adult. An 8-year-old boy was airlifted to hospital.
4: Child trapped under Tesla after crashed into kids at holiday camp. 8, seriously hurt and 3 injured.
I can do this all day btw. But i think you get the point. MUSK has hurt and killed a lot of people! And he WILL go to jail.
> - He promised FSD in 2014. xD...
- Yes it will be good someday, but not at Tesla and if we listen to real Engineers, not even close to happening. It is like saying why wouldn't warp drive be good enough someday. Yes warp drive will be possible in the future, but not anytime soon. Does not make any sense does it. xD
@Adam But what about real children and humans that it kills? Probably a ghost that hacked the car or something, right? 😂 And about the collision with object, is that okey or fake? So the FSD is just going to drive around and not avoid objects? I really dont get you guys, you think like a monkey with a human brain xD I simply cant continue this discussion. It is like talking to a religious person.😅
@Adam seek help brother, seriously. 😥
@Adam EVERYTHING MAN! You look past truth and create your own truth. And when i prove you wrong, you still continue and avoid the truth. You are also dangerous like all other Musk rats. Like killing children etc is nothing to you guys. You just want to be correct. And when i do provide real data, you minimize it by crap data that is not true, so the truth can look better in your eyes. An example is when i mentioned the death. And then you move into talking about a dummy that has been used as test. This is another example: > - Which is not true, because i provided the information to you. You only minimize and look at it as numbers and not humans that die and get seriously hurt.
Lets do a test here... You said 15 people as if it was nothing... How will you minimize this data then: There has been around 300+ deaths because of fsd/autopilot. I have not even added the number of injured and deaths from day one FSD was announced. And not added global numbers from all the countries... Seriously, get your head out of Musk ass, and start thinking. Have a good day!
you have done a bait and switch regarding provision of data. Yes he was very publicly given the api keys to the firehose, he wasn’t given the methodology used to produce the number provided in filings to the SEC. Musk also made it clear that due diligence wasn’t necessary in the basis of the SEC filings. If the filings were accurate then there would be no barrier to fulfilling the contract.
Anyways, we will see how this turns out in court.
Hello, love your content, but I can't help to notice your framerate is bit off or camera settings is odd causing motion blur. Can you do something about it in future videos? Thanks
that last claim is deeply ironic
I await Musk signing a contract to buy Coke-a-Cola and then back out at the last minute and then proclaim Coke will never be drunk on Mars.
Whoever does the text for the video might want to use a spellchecker. It's probably not a big deal when it happens throughout the video if people still understand, but when it's also in URLs (e.g 10:23), it might send someone to the wrong site. It's also understandable when English isn't your first or native language but... isn't it? I'm not exactly a spelling-Nazi but it just happened so many times - i.e. more than 3 times - I thought I ought to point it out. Always appreciate the content otherwise, especially as my short attention span always find things "Too Long so Didn't Read"!
I wouldn’t be surprised if Elon paid Mudge to whistleblow. I just find it incredibly convenient that the security issues are suddenly brought into the open, two months from trial, seems so convenient.
Bottom line, Elon needs to be held accountable, shareholders are not handing out free puts. No one force Elon to waive is right to do due diligence before he signed. And he shouldn’t be let off the hook despite his desperate flailing.
Absolutely, he got sacked 9 months ago. If it was a matter of "national security" why did he wait so long to whistleblow
unless there was fraud on the part of Twitter which there almost certainly was
@@johnsmith99997 He might have done so earlier and was ignored. Read Cliff Stoll's Cuckoo's Egg on how different parts of the same governmental agency (FBI in his case) can treat a case.
I actually have been having this same thought. No matter what it's good for him (if the whistleblower works out, he wins the case. If he doesn't, big oil is corrupt or something like that). At the very least he's hoping it buys his time and lets them extend the trial date.
Another commenter wrote:
You should really clearly separate between Bots and mDAUs (monetizable daily active users) as that is an aspect Musk tends to conflate (as it can be hard to understand for regular people and this confusion plays to his advantage).
To make a long story short, both twitters statements on mDAU and Zatkos claims regarding Bots can be valid at the same time.
Twitter could theoretically have a far higher than 10% number of bots, though as long as they do not count those as part of their mDAU numbers, that has no effect on any potential claims concerning their public disclosure.
Delaware is probably the worst state for Elon to have this court case, they work very hard to be as business friendly as humanly possible, which is why so many businesses (like twitter) are "headquartered" there
I'm two-fold on this... on 1 side I'd love to see elon put in his place, but on the other I don't want elon in charge of twitter, as he's repeatedly voiced his intent on making changes to the ToS that'd make it an illegal site in EU and thus cut off 1/3 of the userbase from accessing the platform..
He literally said the opposite... What are you even talking about?
Weird, thought it was prolific that twitter is like 25% bots; even for legit reasons like monitoring hashtags, business bots and kids playing with AI
Lets hope law applies to the richest as well.
Never has
Well rn he’s against one of the richest corporations so god knows who the laws apply to
I don’t really care about rich business or some of the drama…
But it would honestly feel really good for the richest man in the world to be knocked down a peg.
@Adam he's a fucking billionare, if he works hard on any project, he can see direct improvements in his wealth. So he claims to work like 16hrs a day, but seems to expect ordinary workers to the same. Why would you do that? A guy whose salary is fixed is going to see barely any improvement in his life doing unpaid overtime. He's a guy that expects everything from his workers while paying the least required.
He's anti-union. How is that not evil? He hates having to negotiate collectively with workers for a proper wage
He CLAIMS to be pro-climate, but has a seething hatred for public transport (thinly veiled hatred for the lower classes, perhaps? A small possibility) despite the fact public transport would contribute immensely to solving climate, traffic issues. And his solution for traffic is a fucking underground road and electric cars. That does nothing. If you didn't know, there's a concept called "induced demand" and it says the more you build roads, the worse traffic gets. Electric cars aren't going to shake off traffic, ever, they're literally the same thing as gas cars for traffic. And for the environment, it's much more demanding on the grid to have 30 Teslas than a single railcar (in case you haven't noticed, we haven't yet transitioned to full green energy, so the electricity use being larger doesn't help) Cars in any shape or form don't solve traffic, they are the traffic.
He claims to actually care about improving everyone's lives, but doesn't lead any efforts to come up with a unified charging standard and instead expects every other manufacturer to adopt his standards.
And for the cherry on top, he behaves like a 14 year old who just discovered "le feminist gets destroyed by FACTS AND LOGIC" on Twitter. Oh yeah, sure, your effort to buy Twitter was for "owning the libs". It's so childish.
@Adam He's generally just an asshole. Like when he pitched a ridiculous and stupid idea (building a submarine) to rescue children trapped in a cave so that he could get some publicity. When the people who were actually rescuing the children pointed out that it was stupid he lashed out and called them pedophiles.
Or when he tweets to manipulate stock prices. IE says tesla will accept bitcoin as payment, bitcoin goes up, he sells bitcoin, he comes back and says "actually, we won't accept bitcoin", price of bitcoin goes down again. But he has walked away with millions of dollars.
Or his fake plan for "hyperloop". Basically, california was looking to add high speed rail for commuters. If there were cheap and easy high speed rail, less people would buy cars (less market for Teslas). So he pitched the idea of a "Hyperloop" in an attempt to derail the plans for high speed rail. And he did it know the plan couldn't work, but by the time people realized, it would be too late and now they'd need cars.
@Adam Union-busting
Also, his family's gem mine in slaveland.
@Adam My parents have nothing to do with Elon Musk.
Diligence*
Anyone else think his voice sounds off in this video? It's like he inhaled some helium just before recording...
Elon is just a big troll, but I’m here for it.
The more time goes on the more I feel like he's a conman hiding behind a troll mask
Nah hes actually just stupid lmao
@@tomlxyz well hes already admitted that hyperloop was a con, so what else?
@@lt2660 Hyperloop. Self driving. Going to mars. Starlink which will not work the way he has told everyone. Affordable cars.(which is the reason why people invested). Battery replacement on warranty. That he created Paypal. That he created Tesla. That he was poor. That he started his first company with nothing, when in reality his father and mother gave him all the money he wanted. That he promised semi truck. That he promised a truck. That he promised a sports car. That he promised a robot, which is a human dancing on stage btw, haha xD Etc, etc. The list is long! xD He makes Elisabeth Holms look like an ant.
There's a lot more to Twitter's company information than just tweets. Financial data, previous agreements, current ones, source code, infrastructure docs, user targetting data, marketing data, HR data and much much more. So giving him all tweets doesn't mean information wasn't withheld.
Can we drop the flickering squares within the green background on many of the graphics please?
Electric Jesus is face with the unwelcome, and unfamiliar, prospect of having to go through with his word
The video seems to be sped up, but in my settings the playback speed is normal
I loved this video. It illustrates one aspect of what a capitalist has to do on a regular basis… accept risk… all capitalists and entrepreneurs don’t always win. Those greedy evil entrepreneurs don’t always just sit back and collect money while oppressing their labor. And, it’s not just about producing a product that people might want. It’s risky … no one will feel sorry for either Twitter or Musk… maybe only stockholders…. It’s a dog eat dog world for entrepreneurs/capitalists…. most of them eaten up by ‘incoming’ combatants. What’s the percentage that make it… less than 50%?? So maybe give those capitalists a little more credit for what they do…. before throwing shade….
I'm sorry but the spelling on these graphics is killing me
Who would have thought an eccentric billionaire could be arrogant enough to skip due diligence?
Probably because he planned something like this all along, he stated multiple times that it was clear that they were lying about the bot numbers and were thus defrauding, which can quite literally make Twitter go bankrupt.
@@anubis9151 Until he is forced to buy it..
@@DingleberryPie Which is almost impossible..... at most he would only pay the 1 billion dollar fee for forfeiting the contract. It's by far the most likely scenario in case he loses.
@@anubis9151 Not necessarily. The judge overseeing it has literally enforced mergers before. Even if all he ends up paying is termination fees, he'll likely get another lawsuit by shareholders for damages.
Please talk about Ecosia they are a search engine that plants trees
please stop the Nebula thing, already paying for youtube whatever extras you might have on Nebula. Cannot pay for every online service
10:39 your sign-up link has a typo
Soon we know...
Not a native speaker; could anyone explain to me what is meant by "(right to) due diligence", "material adverse effect", and "material covenant breach" and how these play into the case?
Is it me or there are some frame drops in the video?
Great channel!
Twitter is certainly more than 10% bots, i know because i run ~70k of them just for my own personal project and i'm a nobody. Sounds like legally it doesn't give Musk an out though, as E X P explained.
You have an army of robots, you're gonna take over the world eventually mark my words
Is it just me or is the video a bit sped up? Something with the voice doesn't line up with how I recall other videos...
he's on helium
The music + sounds used on this channel definitely are more gym friendly 😂
Graph at 4:13 shows > not
there are several errors and misspellings
Twitter should just give Musk his discount.
They have a legal obligation to their shareholders which would prevent that.
This will be stuck in the courts for years.
probably not. They are going to a specialized court that is VERY fast. This could be resolved within months.
@@ThatGuy-bz2in If u r wealthy, and used to listen to nobody but yourself, as Musk does, u can drag the process for years... Still, he´s gonna capitalize on the publicity of the process, that´s the only thing he always does, after all...
@@klausbrinck2137 I mean, the process has ended. Musk was forced to buy Twitter at full price, just like I had said he would. I also said it could be resolved within months, which it was, like 2 months after I wrote that comment.
Just buy it for $20B instead of $40B
Worked out well
You downplay lying/misleading FCC significantly in this video. This is not such a small deal, as you make it seem, and if they are found to mislead FCC then Musk eaisly will get out of the contract, as it is explicitly stated in the contract.
Another commenter wrote:
You should really clearly separate between Bots and mDAUs (monetizable daily active users) as that is an aspect Musk tends to conflate (as it can be hard to understand for regular people and this confusion plays to his advantage).
To make a long story short, both twitters statements on mDAU and Zatkos claims regarding Bots can be valid at the same time.
Twitter could theoretically have a far higher than 10% number of bots, though as long as they do not count those as part of their mDAU numbers, that has no effect on any potential claims concerning their public disclosure.
A serious case of buyer's remorse :)
Just to clairfy Musk did not "wave due diligence" despite what twitter says
he waved pre-signing due diligence and negotiated for a bunch of representations that must be true at closing of the deal
I still think it more likely twitter will win the lawsuit than Musk (or most likely of all it will be settled)
True but even then Musk has to show that Twitter is represented incorrectly according to those clauses and performance was not one of those clauses.
He has to show that Twitter was hiding key information on their disclosures. By his it sounds, they weren't. They have a bot problem. But they have said they have one and Musk has shown that he knew about it beforehand. I can't see one ex worker being enough to prove fraud.
Basically every lawyer I listened to on this explicitly said he waived due diligence...
Any one else's audio weird? Seems kinda high pitched
The worst outcome for Elon will be that he has to pay a breakup fee.
Hope Elon loses hard. He's been getting away with all his bs for years. It is time he realises he is not a god
i agree
Not to mention how many people he has killed and injured by brain washing Musk rats that self driving is real in a tesla.
There is no losing scenario for Musk here. If he loses, he ends up Twitter CEO and he can improve it from inside. If he wins, he either gets twitter at a discount or walks out of the deal. Either way, twitter will be a different company, hopefully a better one.
@@MunsterNox Where is the money for this twitter? No one will give him a loan. He is in crazy debt. No tesla stock can pay for that, not even close. I am not even going to entertain the rest you wrote. just stupid man xD
@@MunsterNox buying Twitter is a net loss. A bad business decision can be his downfall. And for that much money, it is ridiculous. Elon can only blame himself now.
To get out of the deal. He has to pay the one billion dollar termination fee.
Activating that clause and giving him a cheap (1 bil) way out is also dependent on materially adverse effects, so no, he is still stuck in.
At 4:15 Elongated Muskrat's last name was spelt as Must
*Elongated Muskrat'* Oh that's so good. I'm going to use that :)
Just as Amber Heard that she needed to see a shrink, Elon Must buy Twitter.
Ill make it simple. Literally nothing matters in the case other than who the judge is.
How is that about stones and glass houses? Misrepresentation could be his second name. Maybe he can make cool CGI where he will win while doing 420 memes and owning everybody.
If they said „well we might be wrong” about the bot Numbers than it’s clear that they didnt lie lol
im just gonna sit and enjoy the fireworks
If you are serious you win the court - if you do that, than there won;t be no court only your opinion... I don;t understand why its so hard for Elon Musk to win, if he replaces some of conditions he still will win somewhat.
I believe he just wants to get a better deal.
Then he shouldn't have signed to the deal he did.
If people in Musk's position could walk away from the deal then a take over bid like this would simply be free call options.
He’s just pyst because to make a 420 joke, he drastically overpaid … at the top … we all fuck up Elon … get over it. You can fight your way back to being the richest by pump and dumping Tesla stock still.
Of course he does, he decided to pay almost 50% more than the value
Any reasonable person would regret that (Elon Musk isn't a reasonable person but still)
@@socialistrepublicofvietnam1500 Yes so now he wants to pay the appropriate amount. They will probably just renegotiate the rice
@@somethinglikethat2176 Of course he can walk away if Twitter where lying about the statistics of their company.
Brave for Elon stans crying
You really need to proof-read the animations, they're full spelling errors.
TLDR science next?
Elon you were supposed to save the town square for conservatives. Why are you trying to weasel out of it now?
PS: the day he announced it, I knew he was biting off more than he could handle, trying to buy a company as large as Twitter with the paper wealth he didn't really have. I just thought it would come back to bite him in a year or two. Not almost immediately.
His plan was to borrow from banks pledging his Tesla stocks as collateral, at a time when Tesla stocks had just rocketed up in value. What if it came down?
Perhaps he wanted to flip the debt back on to Twitter, but didn't have enough time to complete the trick before everything unravelled.
Elon is a visionary.
With the very clear vision of making money.
At all costs.
And if he can tank a high speed rail project along the way, what a great bonus!
Ya, imagine is Musk had "succeeded" in tanking the project. Cali "taxpayers" would have saved $100 B, rather than spending on Rail to no where. I am surprised that you can argur this point NOW, then Cali's approach was proven so wrong.
Also, giving an alternative "solution" is not called tanking. To even suggest such a thing is intellectually dishonest and showcases fascist thinking -- either my way or highway.
The "at all costs" is a very refutable claim.
He was forced out of the board of directors at tesla, at which point the board started making incredably scummy money grabbing decisions. He has not made spacex public. If he was just hungry for money, he has scummier options.
But oh no, lets throw the tomatos at him and not at the rich people who literally go out of their way to make everything worse. Hes the problem.
@@archigoel How can it be called an ‘alternative solution’ when Elon himself knew it was impractical and was never gonna happen. All he wanted out of it was to stop it and have Ca stuck with the never ending pile of cars cars cars. Trains work, they work in China, they work in Europe, they work in Japan etc etc etc. Just cuz the US is humongously bad at building infra for cheap does not mean Elon is on the right side of public good here.
Also, oh my god I’ve now been labeled a fascist on youtube! Who will ever employ me! You’ve ruined me!!
Reputation is a currency to be expended. That is this.
LMAO. I'm not an expert, but I know for certain that most companies Elon Musk started cannot be for the goal of "making money". You must be utterly clueless about business to think starting a rocket company is for the money. There's a million business avenues that are much less risky.
Elon's spokesmodel career is coming to an end.
He is simply an arrivist. An arrivist is a person, whose sole quality is persistence to reach his goals, while disregarding everything else demanded, like the additional qualities demanded in order to fullfill the position he gets, once he has "arrived" there. A backyard-car-seller turned megalomaniac... Spokesmodels on the other side, have no intrinsic motivation.
Nah, he's just hoping to negotiate a better deal and that Twitter will accept it so that they don't have to go through the time consuming court process.
Except even a dollar off the strike price would be so much money, you could pay top rate lawyers for years.
Any compromise will just have shareholders make twitters C-Suite personally liable ... those people are obligated to get the best for shareholders, and that means forcing payment at the highest possible price.
Which also won't take much effort because he has no leg to stand on, this is gonna be over before 2024.
If your case is this open-and-shut bad, no money in the world can help you.
@@aenorist2431 He was hoping for more time for the stock market to be in his favor. Typical ego BS plus gambler's desperation
@@demons27 I'd not quite call it desperation, because it's worked for decades, leveraging and bullshitting
some typos in this
☝️☝️
Tell Elon I referred you to him for a business investment that will change your financial life♪
You guys are literally the perfect tool
Because he signed a binding contract with no way out, after having his brain fried (if he ever had one) by being too rich and thinking he could do what he wanted.
He certainly was clever enough to leverage a few hundred million into a few billion.
But he didn't know when to quit.
Great video!
Fascinating breakdown. What about the one billion dollar escape walk-away clause? (Obviously Elon doesn't want to pay that, either.) I'm surprised you didn't even mention that.
It isn't relevant. The "breakup fee" only applies if there is a 3rd party reason why the deal can't close. For example if government regulators blocked the deal. Then musk would pay the 1 billion fee and the deal would fall through. Since there is no 3rd party reason, this doesn't apply. Musk can't walk away from this deal. The deal he signed requires him to buy twitter at the set price. The only way out is if he can prove twitter misrepresented facts so badly that the business is fundamentally different than what he bought. The bar for this is SUPER high. It is extremely rare for this bar to be met. Basically, there is like a 90% chance musk is buying twitter, or they will settle out of court with musk paying billions and billions of dollars.
@@ThatGuy-bz2in In materials about the break-up fee that I've seen, either party can walk away for any reason by paying the $1 billion fee. But with the lawsuit going forward, presumably I was mistaken. Oh well. I'm getting an extra-large bucket of popcorn for this one.
@@karlint39 I believe the sources you were looking at were incorrect. It only applies to if the deal cannot proceed due to a 3rd party reason (like the government blocking it). The contract musk signed requires him to buy twitter. He has no legal way of backing out unless he can prove that Twitter defrauded him so badly that the company is fundamentally not what he agreed to buy. But the bar for that is SUPER high. There being a few more bots than he thought won't cut it. Especially since he was tweeting about how getting rid of the bots was the reason he was buying the company.
He's screwed.
@@ThatGuy-bz2in I think there is a difference between being "screwed" and overpaying for the company by 20-30%. It is interesting that in the beginning there were so many people who were panicked at the idea that Musk would acquire Twitter, and now those same people are hoping he is forced to buy it. Regardless of the price, he apparently has the money to buy it, so one way or the other, it seems like he will get it. I hope the people who originally hoped he wouldn't get it will be OK with that.
@@karlint39 A couple of points. 1) It is still about a 30% premium to the stock value. But it is likely the stock value is being held up by the promise of musk buying it or paying a massive breakup fee. The real value is likely much lower.
2) I don't much care either way who owns twitter. I don't use it and don't see much value in it.
3) It isn't exactly accurate to say he has the money to buy it. Technically speaking, he doesn't. His offer is backed up by billions in loans. It was also going to require a large stock sale (probably Tesla stock). He reportedly sold 8.5 billion in Tesla stock around April to help finance the deal, but in a 44 billion dollar offer, that isn't anywhere near enough. He would have to sell alot more Tesla to come up with the cash. But tesla's stock price is down 27% since he made the offer. This is the core of why he is trying to back out. He would have to sell alot of his shares in Tesla to close, more than he was expecting. I remember reading somewhere that Musk had an agreement with shareholders that he wouldn't sell more than a certain percentage of his shares in Tesla, so it's possible that trying to close the deal would cause other problems for him.
Bottom line, theres a good chance that the courts will rule he has to buy Tesla. He may close the deal or he might negotiate a huge payment with Twitter's board to get out of it. But watching him struggle still amuses me because he's kind of a prick. Calling people who rescue children pedophiles, lying to try to prevent investment in public transit so that he can try to sell people cars etc.
WHY EVEN SLAGGING MUSK WON'T GET YOU VIEWS
Religion is madness.
Madness is often depicted as allcaps.
You feeling religious?
Do we trust Twitter's data?
Almost every screen in this video has an embarrassing typo in it. Can nobody in your newsroom type?
Regardless, Elon is still not a genius.
Why is the speaker edited to talk in such a low-pitch? It sounds so goofy compared to his normal voice, like he huffed some helium before reading the script lol.
you know that helium makes one high-piched?
@@tomlxyz don't café
Am i the only one having fps drop between videos of this channel(main one too) recently?
I thought he was a good business man... 😃
He is simply an arrivist. An arrivist is a person, whose sole quality is persistence to reach his goals, while disregarding everything else demanded, like the additional qualities demanded in order to fullfill the position he gets, once he has "arrived" there. A backyard-car-seller turned megalomaniac...
poor Musk is gonna have to cough up one billion dollars, leaving him ... still the richest person in the world
I hope he wont have to pay, twitter needs to suffer.....
not a big of the song behind, I'd rather without it.
Porn, Netflix and Twitter. Should I conclude the channel is a bit self-centered?
Elon Musk has always been a con-man, surely not Trump-level con-man, but still ... and as it is this con-man runs out of luck this time ... maybe less shenanigans would help ..
He is simply an arrivist. An arrivist is a person, whose sole quality is persistence to reach his goals, while disregarding everything else demanded, like the additional qualities demanded in order to fullfill the position he gets, once he has "arrived" there. A backyard-car-seller turned megalomaniac...
3:54 "But with Elon holding a literal firehose of data..." I'd be interested in seeing one of these literal firehoses of data. Or did you perhaps mean a figurative firehose of data?
I like this channel a lot, but find this video to not be as unbiased as I expected. For example, you imply the chancery court won't be swayed by showmanship as a negative towards Elon (obviously he's a showman) yet fail to evenly imply they might be swayed positively by the fact that Elon's businesses are superbly executed (Tesla and SpaceX have superb financials).
Because how his businesses are executed have nothing to do with anything?
☝️☝️
Tell Elon I referred you to him for a business investment that will change your financial life♪
Um… is there anyone who has even a passing knowledge of Twitter who is surprised to hear that the number of bots is high? I think Musk just wants out. And I’m torn… I don’t want him to win but I also really don’t want him to own Twitter.
☝️☝️
Tell Elon I referred you to him for a business investment that will change your financial life♪
☝️☝️
Tell Elon I referred you to him for a business investment that will change your financial life♪
This is like when you buy on Amazon and then your find the same product for half the price on eBay but when you want to cancel the order they have already shipped it 😌 Elon you had to double/triple check before signing
you can return on amazon.
@@manuelight these deals, like Amazon, have terms set out in advance.
The one thing we all know - it would be pretty bad to be a twitter shareholder right now…
While Twitter's negligence against bots deserves to be investigated, I have no sympathy for Elon. Twitter's issues have no bearing on Elon's negligence. He proposed the deal himself, and then willingly threw away his chances of looking into the current state of Twitter before signing off on the deal. Claiming he was deceived was idiotic, especially since he clearly knew about many of Twitter's issues when going into the deal. Twitter didn't even want to be purchased, but Elon essentially forced their hand by leveraging their duty to public shareholders. While Elon has done some amazing stuff with SpaceX and Tesla, he's been showing an absurd amount of arrogance lately that has cooled any respect I had for him from those ventures. I won't cheer for his downfall, but I also won't shed a year for him if he gets nailed for this.
Delaware court. Home of Joe Biden. Lol
Maybe I am oversimplying and not understanding fully the situation, but this seems like a buyer was almost being tricked and called the deal off.
Lets just say you saw on a website a company selling a machine with the claimer that it has 95% efficiency, so you do your pre-order and then go get it at the local store, upon reaching the local store the machine has in the box 90% efficieny... as a buyer you have all the right to refuse payment and send it back, and I don't think anyone would dispute this.
In this case, twitter claimed "it has 5% bots" this seems such an understatement that its baffling, elon upon discovering that was not the case (the number is clearly much higher than that, only twitter knows it exactly tough they are not telling) called the deal off... I don't see how elon is in the wrong here...
Another commenter wrote:
You should really clearly separate between Bots and mDAUs (monetizable daily active users) as that is an aspect Musk tends to conflate (as it can be hard to understand for regular people and this confusion plays to his advantage).
To make a long story short, both twitters statements on mDAU and Zatkos claims regarding Bots can be valid at the same time.
Twitter could theoretically have a far higher than 10% number of bots, though as long as they do not count those as part of their mDAU numbers, that has no effect on any potential claims concerning their public disclosure.