04 October 2022

Yeah, Right

So does anyone believe it when Elon Musk says that he is going to do the Twitter deal at the original price?

I don't.

My guess is that his lawyers are terrified that he will engage in his customary fabulism at his sworn deposition, and will get thrown in the clink, and that this is a delaying tactic.

It could also be that Twitter is entitled to a deep dive on Elon's finances as a part of discovery, and his wealth numbers are probably about as reliable as Donald Trump's wealth numbers:

Elon Musk has offered to close his acquisition of Twitter Inc. on the terms he originally agreed to, a sudden and unexpected comedown for the billionaire entrepreneur that could end a monthslong battle he waged to get out of the $44 billion deal.

A lawyer for Mr. Musk communicated the proposal to Twitter’s lawyers Monday, according to a copy of a two-sentence letter that was filed with the Securities and Exchange Commission Tuesday afternoon.

Twitter confirmed receipt of the letter and said it intends to close the transaction at the original price of $54.20 a share.

He worked "420" into the bid, because he thinks that he is hip, or something.

………

There are no guarantees that the unpredictable Mr. Musk will follow through with his proposal and close the transaction. The five-day trial, set to begin Oct. 17, could still go forward as planned. Mr. Musk was scheduled to be deposed later this week as part of the preparations for the trial.

Mr. Musk tweeted Tuesday that “Buying Twitter is an accelerant to creating X, the everything app.” He has previously indicated that the name X.com applies to a social-media company he might create if the Twitter deal didn’t happen. Buying Twitter, Mr. Musk said Tuesday, could expedite the endeavor by three to five years.

So this is all about his butt-hurt over PayPal going with the name PayPal instead of his favored name X.com?  That is really, really, stupid.

I would also note that Musk does complete the deal with Twitter, I expect his policies to lead the micro-blogging site to crash faster than Rupert Murdoch destroyed MySpace.

Elon Musk is living proof of Ben Franklin's old adage, "Better to remain silent and be thought a fool than to speak and to remove all doubt."

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