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

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https://www.thedailybeast.com/priva...-financing-elon-musk-twitter-deal-report-says

https://www.reuters.com/markets/dea...talks-finance-twitter-deal-source-2022-10-05/

Apollo Global Management Inc (APO.N) and Sixth Street Partners, which had been looking to provide financing for Elon Musk's proposed $44 billion buyout of Twitter Inc (TWTR.N), are no longer in talks with the billionaire entrepreneur, said two sources familiar with the matter.

Apollo had been in talks to provide preferred equity financing for the deal, alongside Sixth Street, sources previously told Reuters. Apollo, Sixth Street and other investors were looking to commit more than $1 billion in financing for the deal at the time.
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He's losing funding. I hope he goes bankrupt over this.
 
walrus said:
Did you forget too big to fail?
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Twitter is not too big to fail. Musk may be but Twitter hardly is.

Musk is an idiot though...how much money has he wasted the last 6 months just to buy Twitter at the exact price he was supposed to buy them for originally? All while killing is reputation by kissing up to Right Wing fascists to the point even his financiers are being forced to walk away from him.
 
walrus said:
Did you forget too big to fail?
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No social media provider is TBTF. Energy companies, financial services companies, probably health care providers. But I don't think even industrial manufacturing like auto companies are anymore.
 
Musk isn't going to be bankrupted by this. The first rule of being rich is that you don't risk your own money. You risk the money of others.
 
He wanted to bow out of the deal because it was his own money. Otherwise he would have had no reason to back out. He screwed up and I am going to celebrate.
 
SJHovey said:
Musk isn't going to be bankrupted by this. The first rule of being rich is that you don't risk your own money. You risk the money of others.
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Well of course not...even Scooby doesn't really believe he will. This is a boondoggle though, and a stupid expensive mess of his own creation. His reputation as a genius is on shaky ground.

His Apartheid Mine Money guarantee even if every business fails he will never worry about money.
 
walrus said:
Did you forget too big to fail?
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EL-OH-EL

Twitter, the company that was started in 2006, has only had two profitable periods, once in 2018, and another in 2019.

They're not "too big to fail," but they are an alternative to prospective buyers just putting their piles of cash in a burn barrel and lighting it on fire.

The burn barrel at least gives off heat, unlike Twitter.
 
Handyman said:
Well of course not...even Scooby doesn't really believe he will. This is a boondoggle though, and a stupid expensive mess of his own creation. His reputation as a genius is on shaky ground.

His Apartheid Mine Money guarantee even if every business fails he will never worry about money.
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The only people who will think less of him over this are the ones who think little of him already. Even ignoring his fanboys, most of the people who barely pay attention have been saying "Elon is right about Twitter" from the start.
 
Swansong said:
The only people who will think less of him over this are the ones who think little of him already. Even ignoring his fanboys, most of the people who barely pay attention have been saying "Elon is right about Twitter" from the start.
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Not anyone under the age of 50 and certainly not anyone with an IQ over 70. Pretty much everyone I know, read or talk to thinks he screwed the pooch mightily. Being "right" about how Twitter is filled with bots is about the only thing he can hang his hat on the rest he basically has his tail between his legs. His entire strategy for this buyout was beyond stupid Twitter friggin won. They are getting the money they were promised and may are getting out before the internet rules change. Musk spent hundreds of thousands to try and stop exactly what is going to happen and is now doing a victory lap over it.

And in the end, when he turns Twitter into his own private Right Wing Fascist Hellscape Tik Tock will send him a gift basket. Twitter is about a year away from being what parents use...which means it is uncool and no one not on AARP will use it.
 
Handyman said:
Not anyone under the age of 50 and certainly not anyone with an IQ over 70. Pretty much everyone I know, read or talk to thinks he screwed the pooch mightily. Being "right" about how Twitter is filled with bots is about the only thing he can hang his hat on the rest he basically has his tail between his legs. His entire strategy for this buyout was beyond stupid Twitter friggin won. They are getting the money they were promised and may are getting out before the internet rules change. Musk spent hundreds of thousands to try and stop exactly what is going to happen and is now doing a victory lap over it.

And in the end, when he turns Twitter into his own private Right Wing Fascist Hellscape Tik Tock will send him a gift basket. Twitter is about a year away from being what parents use...which means it is uncool and no one not on AARP will use it.
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But enough about message boards... ;-)
 
Kepler said:
No social media provider is TBTF. Energy companies, financial services companies, probably health care providers. But I don't think even industrial manufacturing like auto companies are anymore.
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firms are too big to fail if they owe GS $$$
 
Handyman said:
Not anyone under the age of 50 and certainly not anyone with an IQ over 70. Pretty much everyone I know, read or talk to thinks he screwed the pooch mightily. Being "right" about how Twitter is filled with bots is about the only thing he can hang his hat on the rest he basically has his tail between his legs. His entire strategy for this buyout was beyond stupid Twitter friggin won. They are getting the money they were promised and may are getting out before the internet rules change. Musk spent hundreds of thousands to try and stop exactly what is going to happen and is now doing a victory lap over it.

And in the end, when he turns Twitter into his own private Right Wing Fascist Hellscape Tik Tock will send him a gift basket. Twitter is about a year away from being what parents use...which means it is uncool and no one not on AARP will use it.
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I'm not saying you're wrong, factually, about any of that. But I don't agree that the "I hate politics I barely vote" people - which make up an appallingly high percentage of us - aren't paying attention to the details whatsoever and mostly think Musk is kinda cool.

I shocked some friends recently when I went on an anti-Musk tirade. They think he's the bees knees.
 
After 18 years with the USG, Dr. Mrs. just had $88k of her federal loans wiped, because Biden broadened the types of loans that were applicable.

It's nothing compared to what she would have made in the private sector, but we won't turn it down.

Thank you, President Biden and Democrats.
 
BREAKING: Jobs report shows 263k jobs added vs 275k est. Unemployment 3.5% vs 3.7% estimate. Avg hourly earnings up 0.3%.
 
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