The Twitter Games
Elon Musk trolled Twitter for over a week.. asking his millions of followers if he should start an alternate platform. Well, the answer is in... he spent over $3B and purchased a massive share (almost 10%) of Twitter.
Now he is suggesting that he might try to buy the whole company and take it private. There will be much fun and games in the days ahead.
Twitter's share price has been in the low $30's for the last three months and jumped into the mid $40's since Elon made his purchase earlier this month. This represented an almost 50% profit for the existing investors and created absolute terror for the Progressive employees. (YAY!).
Elon Musk trolled Twitter for over a week.. asking his millions of followers if he should start an alternate platform. Well, the answer is in... he spent over $3B and purchased a massive share (almost 10%) of Twitter.
Now he is suggesting that he might try to buy the whole company and take it private. There will be much fun and games in the days ahead.
Twitter's share price has been in the low $30's for the last three months and jumped into the mid $40's since Elon made his purchase earlier this month. This represented an almost 50% profit for the existing investors and created absolute terror for the Progressive employees. (YAY!).
Elon recently offered $54.20 per share to buy Twitter, which would cost about $43B. That's a pretty large chuck of cash even for the richest person on Terra. www.foxbusiness.com/markets/elon-musk-offer-buy-twitter-take-it-private
Elon sounds as though he is actually serious about free speech. "I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form." He went on to say it's "not a threat, it's simply not a good investment without the changes that need to be made."
In other words, he suggests that he might bail on his initial investment if Twitter does not agree to substantial changes.
Let The Games Begin
The existing board is already throwing up roadblocks and refusing to consider the offer. Progressives are cheering their defiance but institutional investors will be pissed if Elon bails and the stock drops back into the $30's.
Saudi Arabia’s Prince Alwaleed bin Talal has already rejected Elon's offer. As an aside, the Prince appears to be a member of the WEF Global Leaders so we can be assured that he has the best interests of Americans in mind. You trust this guy with your Constitutional freedoms... right?
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Liberal Tears
Progressives are totally loosing their shit. It's not like they're really concerned that a billionaire will own a media company (Bezos owns WaPo, Bloomberg owns Bloomberg, Zuck owns Facebook). No they are concerned that a billionaire who disagrees with them will own a media company.
Robert Reich sums up the Progressive position nicely. "At least the US responded to Trump’s lies. Trump had 88 million Twitter followers before Twitter took him off its platform. These moves were necessary to protect American democracy." He goes on to say "Musk has long advocated a libertarian vision of an “uncontrolled” internet. That vision is dangerous rubbish. There’s no such animal, and there never will be."
That's right, Robert, free speech and equal access are dangerous rubbish.
www.theguardian.com/commentisfree/2022/apr/12/elon-musk-internet-twitter
Let the Games Begin, Mr. Reich, Let The Games Begin.
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