Business, Economics, and Taxes: Capitalism. Yay? >=(

[Kepler]

Elon gonna buy twitter

Fine.

Let's bankrupt twitter.

 

[Handyman]

Sweet. Makes quitting Twitter easier. I don't need to read his azzhole sycophants that much...they and the fuckwits that listen to Rogan can go down with the ship the second they let Trump back on. (which he will do)

Fuck Elon Musk, racist ignorant fuckwit.

 

[Kepler]

Sweet. Makes quitting Twitter easier. I don't need to read his azzhole sycophants that much...they and the fuckwits that listen to Rogan can go down with the ship the second they let Trump back on. (which he will do)

Fuck Elon Musk, racist ignorant fuckwit.

He's not ignorant. He's a cynical con artist. He is making a (hopefully) disastrous business acquisition. He thinks he is going to monetize stupidity the way Fox News did. Maybe he will. But every sane person who was still unaccountably on twitter will leave. It will become a pure social media ecosystem for fascists, pick up artists, and con men. Maybe it will be the magnet that pulls all those conservative losers away from the other platforms and makes them tolerable.

 

[Handyman]

No he is ignorant. People think he is smart because he markets himself well and because he is Autistic. He is not smart. He doesn't even understand how COVID testing works...Nate Silver may have crap takes but at least he understands how the basics of things works. Elon has crap takes and doesn't even understand why they are crap even after it is explained to him.

As a former Musk fan, trust me, the guy is the dude in class who finds the right group to work with so he can get his A. Then he takes all the credit.

 

[dxmnkd316]

No he is ignorant. People think he is smart because he markets himself well and because he is Autistic. He is not smart. He doesn't even understand how COVID testing works...Nate Silver may have crap takes but at least he understands how the basics of things works. Elon has crap takes and doesn't even understand why they are crap even after it is explained to him.

As a former Musk fan, trust me, the guy is the dude in class who finds the right group to work with so he can get his A. Then he takes all the credit.

Musk's money covers for his incompetence.

 

[Deutsche Gopher Fan]

A rich asshole throwing a tantrum is what this is

 

[Kepler]

No he is ignorant. People think he is smart because he markets himself well and because he is Autistic. He is not smart. He doesn't even understand how COVID testing works...Nate Silver may have crap takes but at least he understands how the basics of things works. Elon has crap takes and doesn't even understand why they are crap even after it is explained to him.

As a former Musk fan, trust me, the guy is the dude in class who finds the right group to work with so he can get his A. Then he takes all the credit.

I didn't say he was smart.

I said he is not ignorant. He knows the way his industry works. But the mistake is thinking his industry is aerospace or engineering or even finance. It's fame. Musk is another Dump. He sways the boobs -- just different boobs. Still male, but not filthy rural hayseeds. Instead, smarmy urban techies. Not the vicious anger of racists and fundamentalists. Instead, the arrogant adolescence of STEMlords and tech bros.

Musk is wily like a nasty ambulance chaser. Don't underestimate him.

 

[dxmnkd316]

I didn't say he was smart.

I said he is not ignorant. He knows the way his industry works. But the mistake is thinking his industry is aerospace or engineering or even finance. It's fame. Musk is another Dump. He sways the boobs -- just different boobs. Still male, but not filthy rural hayseeds. Instead, smarmy urban techies. Not the vicious anger of racists and fundamentalists. Instead, the arrogant adolescence of STEMlords and tech bros.

Musk is wily like a nasty ambulance chaser. Don't underestimate him.

I think this is a fair assessment actually. The difference bewteen him and Trump is that Musk has money. And so do his backers.

 

[The Sicatoka]

After the final formal acquisition of Twitter by Musk, which will happen first:

- formal apology to NY Post for suspending their account for covering Hunter's laptop (that even WaPo now admits was/is real)
- restoration of @realDonaldTrump
- pumping Dogecoin

The first is the "free speech protection" he's been claiming, the second is a "viewership" move, the third is classic Musk.

 

[dxmnkd316]

Interesting, I haven't seen this anywhere else yet, but I was looking through the financing terms for Elon. What has been covered is that his loan from the banks is at about 4% or $1B/yr in interest. YIKES. But what I haven't seen is that part of the loan is subject to escalating interest rates equal to 50 basis points at the end of every three-month period for the life of the loan. That's a 0.5% bump three months against $3 billion. This is secured against, almost certainly, Tesla stock.

Maybe that's normal for BSD financing, but those terms would scare the shit out of me.


Edit: Ah, shows what I know. That increasing interest rate is a $3B bridge loan. Literally spelled out in the section I was reading. I just don't understand how this deal is structured.

Edit, JFC, he's taking out a $12.5B margin loan against Tesla. That's a... ballsy move. If Tesla goes down, he could be fucked from both ends.

 

[The Sicatoka]

50 basis bump ... quarterly!?!?!
That's one good incentive to get that paid off!

 

[French Rage]

Secured against stock in a growth company that will certainly well going into an era of raising interest rates and quantitative tightening.

 

[rufus]

After the final formal acquisition of Twitter by Musk, which will happen first:

- formal apology to NY Post for suspending their account for covering Hunter's laptop (that even WaPo now admits was/is real)
- restoration of @realDonaldTrump
- pumping Dogecoin

The first is the "free speech protection" he's been claiming, the second is a "viewership" move, the third is classic Musk.

Oh really?

Thousands of emails purportedly from the laptop computer of Hunter Biden, President Biden’s son, are authentic communications that can be verified through cryptographic signatures from Google and other technology companies,

I think that word sitting there has a pretty important meaning. As far as I know, no one has produced the actual laptop, nor its hard drive.

It's kinda like that server sitting in Ukraine, the one that has all the election fraud on it.

 

[The Sicatoka]

" ... authentic communications that can be verified through cryptographic signatures ... "

... nearly 22,000 emails among those files carried cryptographic signatures that could be verified using technology that would be difficult for even the most sophisticated hackers to fake. ... Such signatures are a way for the company that handles the email — in the case of most of these, Google — to provide proof that the message came from a verified account and has not been altered in some way.

Hunter's address. Hunter's verified account. Hunter's email.

 

[dxmnkd316]

50 basis bump ... quarterly!?!?!
That's one good incentive to get that paid off!

Again, because I'm an absolute moron in this kind of thing, it's a secured bridge loan which would tell me it's meant to be short term basically just to cover the deal until he can get other financing. No different than you buying a house but haven't been able to get rid of your old one. Does that mean this is short term so he can raise (sell) enough of his own assets to come up with that $3B?

 

[rufus]

" ... authentic communications that can be verified through cryptographic signatures ... "



Hunter's address. Hunter's verified account. Hunter's email.

You know those things can be faked. They have not seen the actual hard drive. The 'copies' they are working from have been copied and accessed multiple times. Who knows what changes have been made to them, what's been added, what's been changed.

The vast majority of the data - and most of the nearly 129,000 emails it contained - could not be verified by either of the two security experts who reviewed the data for The Post. Neither found clear evidence of tampering in their examinations, but some of the records that might have helped verify contents were not available for analysis, they said.

The Post was able in some instances to find documents from other sources that matched content on the laptop that the experts were not able to assess.

Among the reasons for the inconclusive findings was sloppy handling of the data, which damaged some records. The experts found the data had been repeatedly accessed and copied by people other than Biden over nearly three years.

The Washington Post’s forensic findings are unlikely to resolve that debate, offering instead only the limited revelation that some of the data on the portable drive appears to be authentic.

Many of the nearly 22,000 verified emails were routine messages, such as political newsletters, fundraising appeals, hotel receipts, news alerts, product ads, real estate listings and notifications related to his daughters’ schools or sports teams.

After the New York Post began publishing reports on the contents of the laptop in October 2020, The Washington Post repeatedly asked Giuliani and Republican strategist Stephen Bannon for a copy of the data to review, but the requests were rebuffed or ignored.

Neither expert reported finding evidence that individual emails or other files had been manipulated by hackers, but neither was able to rule out that possibility.

Do better. You're not even a good troll. Ask Jebbie for some pointers.

 

[dxmnkd316]

Secured against stock in a growth company that will certainly well going into an era of raising interest rates and quantitative tightening.

Yeah, if I had balls I'd short twitter right now. You know you have a maximum loss because the share price isn't going above $54. But I don't think this goes through. No way. If I'm a large shareholder of Tesla, my lawyers are already billing me because you can't let that go through. Right? Because if he's on margin for $12.5B on top of raising his own capital which means he's selling, I can't imagine I'd want to let Musk hanging an anchor around his neck is somethign I'd want to see.

I thought I read that despite his ownership share of Tesla, ballpark $180B, he's already taken out loans against $88B of that stock. This would tack on tens of billions more. If the price of Tesla goes down by even 10%, he could easily get margin called. Worse yet, if Tesla were to drop 40%, he'd be responsible to repay the loan secured against Tesla. I'm not sure if that's the $12.5B or the bank loans secured against Tesla, but it's still a big number.

Anyways. I imagine the costs to short twitter right now are pretty high.

Edit: $4.80 per contract ask for a $54 June 3rd put, even though I was wrong and that's way, way down.


Edit 2: Trading just halted. Blech

Edit 3: And that's why I don't play in options. :-D

 

[The Sicatoka]

You know those things can be faked.

WaPo went with " ... difficult for even the most sophisticated hackers to fake ... "

And NYT (buried in here; their investigators also authenticated the emails) believes the emails are real also.

 

[dxmnkd316]

So as I was in Fidelity, an alert popped up and the numbers stopped changing. I'm guessing the tender has been accepted contingent on the ink drying.

 

[The Sicatoka]

So as I was in Fidelity, an alert popped up and the numbers stopped changing. I'm guessing the tender has been accepted contingent on the ink drying.

You're gonna need popcorn.