[Eg_cruz]

Originally Posted by MartinSE

First, as one of the richest men in the world, I will respect his financial planning over any random stranger on the internet.

He did not confide in me on why he wanted Twitter, but $44B is pocket change, so it may have been nothing more than a political statement.

Twitters assets are its clients, that is what he was buying. He said that he had reason to believe they lied about actual numbers or real clients, and many of the accounts were bots. If the lied, that would invalidate the contract.

I have not idea if he is a business genius, but he has innovated several high tech fields more than anyone ever. He is the only viable launch system the US has right now, is offering a global internet to people that never had it before, is perfecting brain computer interfaces, has demonstrated a viable EV, is drilling tunnels faster and cheaper than anyone, has a new cell phone in development, and is preparing a personal robot for sale. If he feels like making a $44B political statement with his petty cash, I don’t see any reason I would want to figure out why…

Nice response

[GizmoWhiskers]

Originally Posted by retiredguy123

I know that a lot of people think that Musk is a genius, but I don't. How could he even think that Twitter, which is just a website, was worth $44 billion? Why couldn't he just start his own website for almost nothing and compete with Twitter. He could even pay people to leave Twitter. And, why would he offer to buy the company for $44 billion and then ask Twitter to reveal information about their clients. That seems backwards to me. And, now he is being sued by Twitter for breach of contract. Didn't Musk have his lawyers prepare an ironclad contract, so that he couldn't be sued? The whole thing seems strange to me that a so-called business genius is involved in this mess. Just my opinion.

Twit is more than a "website". It influences, it manipulates, it drives economy, but most importantly it pushes propoganda the effects the world. Musk, is exposing the power of algorythms and puppet strings. Bots are a form of social warfare influencing reality. Musk being sued will open the flood gates of info on the falsehoods that is being pumped into minds by fake users and bots. Through the process of legal court proceedings ie discovery he will expose the lies and deception.

Sad though... we all know the outcome will be "sealed" but God bless him for trying!

[Caymus]

Originally Posted by retiredguy123

I know that a lot of people think that Musk is a genius, but I don't. How could he even think that Twitter, which is just a website, was worth $44 billion? Why couldn't he just start his own website for almost nothing and compete with Twitter. He could even pay people to leave Twitter. And, why would he offer to buy the company for $44 billion and then ask Twitter to reveal information about their clients. That seems backwards to me. And, now he is being sued by Twitter for breach of contract. Didn't Musk have his lawyers prepare an ironclad contract, so that he couldn't be sued? The whole thing seems strange to me that a so-called business genius is involved in this mess. Just my opinion.

.
The price was based on the magical cannabis time of 4:20. $54.2 per share. I guess he thought $44.2 was too low.

[retiredguy123]

Originally Posted by Caymus

.
The price was based on the magical cannabis time of 4:20. $54.2 per share. I guess he thought $44.2 was too low.

Some have claimed that $44 billion is pocket change to Musk. I don't think so. It is actually about 20 percent of his advertised net worth. That is a lot of money to put at risk. My main point was that it would seem to be less expensive and less risky to compete with Twitter rather than to buy it.

[MartinSE]

Originally Posted by retiredguy123

Some have claimed that $44 billion is pocket change to Musk. I don't think so. It is actually about 20 percent of his advertised net worth. That is a lot of money to put at risk. My main point was that it would seem to be less expensive and less risky to compete with Twitter rather than to buy it.

Obviously you missed that I was "joking" about pocket change. But, at 20% he can certainly afford it. He lives in a tiny modular home, drives cars he makes. So, think of it like you paid cash for a house that amounted to 20% of your portfolio. You could certainly afford that.

As to whether he was a good investment or not, again, I will defer to the guy that is the richest man in the world over some random stranger on the internet.

And SOMEONE pointed out ANYONE can become the richest man in the world - LOLOLOLOLOLOLOLOLOLOL! OMG, that is about the funny comment I have ever read on TOTV.

[irishwonone]

Originally Posted by retiredguy123

I know that a lot of people think that Musk is a genius, but I don't. How could he even think that Twitter, which is just a website, was worth $44 billion? Why couldn't he just start his own website for almost nothing and compete with Twitter. He could even pay people to leave Twitter. And, why would he offer to buy the company for $44 billion and then ask Twitter to reveal information about their clients. That seems backwards to me. And, now he is being sued by Twitter for breach of contract. Didn't Musk have his lawyers prepare an ironclad contract, so that he couldn't be sued? The whole thing seems strange to me that a so-called business genius is involved in this mess. Just my opinion.

I don’t believe he was ever going to pay the amount you mentioned. Always he was looking for a much lower purchase price. Too he never trusted the 5% claim that Twitter stated so naturally this was headed for a much lower settlement price. Should be fun watching the lawyers decide this one.

[Caymus]

Originally Posted by retiredguy123

Some have claimed that $44 billion is pocket change to Musk. I don't think so. That is actually about 20 percent of his advertised net worth. That is a lot of money to put at risk. My main point was that it would seem to be less expensive and less risky to compete with Twitter rather than to buy it.

I agree that he overpaid. But he does things his way. This time his exit strategy may not have been developed fully.

[joelfmi]

You are absolutely wright. Time will tell

[jimkerr]

Originally Posted by retiredguy123

I know that a lot of people think that Musk is a genius, but I don't. How could he even think that Twitter, which is just a website, was worth $44 billion? Why couldn't he just start his own website for almost nothing and compete with Twitter. He could even pay people to leave Twitter. And, why would he offer to buy the company for $44 billion and then ask Twitter to reveal information about their clients. That seems backwards to me. And, now he is being sued by Twitter for breach of contract. Didn't Musk have his lawyers prepare an ironclad contract, so that he couldn't be sued? The whole thing seems strange to me that a so-called business genius is involved in this mess. Just my opinion.

Twitter is not a website.

it’s not easy starting a social platform. This is why Mush wanted it. He thought the value was there until he looked under the covers and found that Twitter didn’t represent their user base truthfully.

[herremans]

Al kaline thought that no baseball player was worth 100000 ,now peeple are getting a couple hundred mill (inflation)

[Luggage]

Company valuations are based on a few things in general, cash flow Twitter was $5 billion a year. Yearly growth, and the obstacles to get into the same business, Twitter as one of the largest social media companies may not have had a huge obstacle but as you found with Trump's business and Al Jazeera are very hard to actually gain traction

[Luggage]

If anyone loses and has to pay $1 billion dollars maybe he is really smart because the Twitter value is now 50% of what it was last year and he can start a new takeover and save 20 billion

[Luggage]

And maybe he just wanted to punish the Twitter board of directors

[Bellavita]

He suffers from King syndrome he is so rich and fathers so many children that he is above us all. Money does not equal class or dignity. We all need a moral code maga rich more so. Not a fan.

Originally Posted by retiredguy123

I know that a lot of people think that Musk is a genius, but I don't. How could he even think that Twitter, which is just a website, was worth $44 billion? Why couldn't he just start his own website for almost nothing and compete with Twitter. He could even pay people to leave Twitter. And, why would he offer to buy the company for $44 billion and then ask Twitter to reveal information about their clients. That seems backwards to me. And, now he is being sued by Twitter for breach of contract. Didn't Musk have his lawyers prepare an ironclad contract, so that he couldn't be sued? The whole thing seems strange to me that a so-called business genius is involved in this mess. Just my opinion.

[Luggage]

Elon musk only put up 5% of the $44 billion, the banks are putting up the rest so he put up about two and a half billion out of his assets, so I would say that's like you or me buying a car for 1,000 down that's worth $45,000, wouldn't you consider that pocket change???