BRKG Master Twitter thread. Elon Musk now owns Twitter, post 144. Heads roll for real

Bubble Head

Bubble Head

Has No Life - Lives on TB
Musk is buying a Book of Business. Very little hard assets to inventory. The value is in the book of Bussiness which usually sells for a number several times the monthly average of customers. The reality is he has to verify the customer count.
As an example I could sell you a trash business claiming 1200 customers per month paying $20 each. That representation equals $24,000/month times a negotiated value 10 times monthly revenue equals $240,000. But if the seller lied and only has 1000 customers to sell then this cheats the buyer out of $40,000. All Elon wants is to verify the Book of business which should be no problem. But it is.
 
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jward

jward

passin' thru
Elon Musk suggests slashing Twitter offer based on number of bots
Jon Brown

3 minutes


Elon Musk suggested Saturday that his agreement to purchase Twitter for $44 billion and take it private should be cut proportionate to the number of bots on the platform.

Musk tweeted "Absolutely" in response to from Ian Miles Cheong, who tweeted: "If 25% of the users are bots then the Twitter acquisition deal should cost 25% less."
The Tesla CEO also expressed skepticism at Twitter's willingness to address the presence of bots on their platform, tweeting, "I’m worried that Twitter has a disincentive to reduce spam, as it reduces perceived daily users."

"They still refuse to explain how they calculate that 5% of daily users are fake/spam! Very suspicious," he added in a separate tweet.
ELON MUSK ASKS TWITTER EXECS ABOUT RESURFACED HILLARY CLINTON TWEET

Last week, Musk set transparency on the number of fake or spam accounts as a key condition for his pending $44 billion purchase of Twitter to go through.
Musk tweeted, "20% fake/spam accounts, while 4 times what Twitter claims, could be *much* higher. My offer was based on Twitter’s SEC filings being accurate."
Elon Musk's Tweet displayed on a screen and Twitter logo


Elon Musk's Tweet displayed on a screen and Twitter logo. The Tesla CEO has been critical of Twitter while trying to grow his influence on the social media platform. (Jakub Porzycki/NurPhoto via Getty Images / Getty Images)
ELON MUSK SLAMS BIDEN: ‘THE REAL PRESIDENT IS WHOEVER CONTROLS THE TELEPROMPTER’
Musk said Twitter CEO Parag Agrawal has publicly refused to provide proof that less than five percent of users are bots, leading Musk to say the deal "cannot move forward until he does."
CLICK HERE TO READ MORE ON FOX BUSINESS
If Musk backs out of the deal, he will be required to pay Twitter a $1 billion termination fee and could be subjected to additional litigation, according to Teslarati.
Tesla CEO Elon Musk arrives for the Axel Springer media award, in Berlin


In this Dec. 1, 2020, file photo, SpaceX owner and Tesla CEO Elon Musk arrives on the red carpet for the Axel Springer media award, in Berlin. (Hannibal Hanschke/Pool Photo via AP, File) (AP Newsroom)
ELON MUSK SENDS POOP EMOJI TO TWITTER CEO IN RESPONSE TO THREAD ON SPAM, FAKE ACCOUNTS
In the first quarter of 2022, Twitter's monetizable daily active user base grew 15.9% year-over-year to 229 million, including 39.6 million daily active users in the U.S. and 189.4 million international daily active users.
www.foxbusiness.com

Elon Musk suggests slashing Twitter offer based on number of bots

Elon Musk suggested his deal to buy Twitter should be cut proportionate to the number of bots on the platform.
www.foxbusiness.com www.foxbusiness.com
 
jward

jward

passin' thru
Elon Musk Threatens to End Deal With Twitter
Will Feuer and Sarah E. Needleman

1 minute


Tesla CEO accuses Twitter of not complying with his request for data on spam and fake accounts on social-media platform

Elon Musk threatened to terminate his deal to buy Twitter Inc. TWTR -1.69%▼ in a letter accusing the company of not complying with his request for data on the number of spam and fake accounts on the social-media platform.
Mr. Musk said Twitter has refused to provide the data necessary for Mr. Musk to facilitate his own evaluation of the number of spam and fake accounts. In April, Twitter accepted Mr. Musk’s $44 billion bid to take over the company and go private. As part of the deal, Mr. Musk waived detailed due diligence that buyers typically perform on targets.
www.wsj.com

Elon Musk Threatens to End Twitter Deal Over Lack of Information on Spam Accounts

The Texas attorney general asked Twitter for documents on how it calculates user data, while Elon Musk accused the company of not complying with his request for data on the number of spam and fake accounts on the social-media platform.
www.wsj.com www.wsj.com
 
jward

jward

passin' thru
Twitter Responds To Musk's Deal-Threats Over Fake Accounts Disclosure
by Tyler Durden

6-7 minutes


Update (1200ET): In an emailed statement to Bloomberg, Twitter said it “has and will continue to cooperatively share information with Mr. Musk to consummate the transaction in accordance with the terms of the merger agreement.”
The company said it believes the deal is in the best interest of all shareholders and intends to “close the transaction and enforce the merger agreement at the agreed price and terms.”
TWTR shares have recovered some of the initial knee-jerk losses...

* * *
Elon Musk said in an amended 13D filing that he believes Twitter is breaching their merger agreement by not providing information about spam and fake accounts.
Musk said he believes Twitter is “actively resisting and thwarting his information rights” by refusing to disclose the information.

Recall, we had previously highlighted Musk’s ongoing battle with Twitter where, in its last stage in late May, Musk seemed to suggest his buyout offer may be compromised as a result of the number of bots on the platform.
The controversy escalated May after Musk tweeted a Reuters article in which Twitter estimated that fake accounts comprise less than 5% of users, to which Musk said:
"Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," then added:
"Still committed to acquisition."
Click to expand...
The new 13D filing sparked an immediate 7% hammering in TWTR stock before the bell...

Read the fuller letter below: (emphasis ours)
Dear Ms. Gadde:
We are in receipt of correspondence sent on Twitter’s behalf dated June 1, 2022, responding to Mr. Musk’s request for the data and information described in my letters dated May 25, 2022 and May 31, 2022.
Mr. Musk does not agree with the characterizations in Twitter’s June 1 letter. Twitter has, in fact, refused to provide the information that Mr. Musk has repeatedly requested since May 9, 2022 to facilitate his evaluation of spam and fake accounts on the company’s platform. Twitter’s latest offer to simply provide additional details regarding the company’s own testing methodologies, whether through written materials or verbal explanations, is tantamount to refusing Mr. Musk’s data requests. Twitter’s effort to characterize it otherwise is merely an attempt to obfuscate and confuse the issue. Mr. Musk has made it clear that he does not believe the company’s lax testing methodologies are adequate so he must conduct his own analysis. The data he has requested is necessary to do so.

As noted, under various terms of the merger agreement, Twitter is required to provide data and information that Mr. Musk requests in connection with the consummation of the transaction. Twitter’s obligations to provide Mr. Musk with information is not, as the company’s June 1 letter suggests, limited to a “very specific purpose: facilitating the closing of the transaction.” To the contrary, Mr. Musk is entitled to seek, and Twitter is obligated to provide, information and data for, inter alia, “any reasonable business purpose related to the consummation of the transaction” (Section 6.4). Twitter must also provide reasonable cooperation in connection with Mr. Musk’s efforts to secure the debt financing necessary to consummate the transaction, including by providing information “reasonably requested” by Mr. Musk (Section 6.11). Mr. Musk’s requests for user data not only satisfies both criteria, but also meets even Twitter’s narrowed interpretation of the merger agreement, as this information is necessary to facilitate the closing of the transaction.
Click to expand...

As Twitter’s prospective owner, Mr. Musk is clearly entitled to the requested data to enable him to prepare for transitioning Twitter’s business to his ownership and to facilitate his transaction financing. To do both, he must have a complete and accurate understanding of the very core of Twitter’s business model—its active user base. In any event, Mr. Musk is not required to explain his rationale for requesting the data, nor submit to the new conditions the company has attempted to impose on his contractual right to the requested data. At this point, Mr. Musk believes Twitter is transparently refusing to comply with its obligations under the merger agreement, which is causing further suspicion that the company is withholding the requested data due to concern for what Mr. Musk’s own analysis of that data will uncover.
Click to expand...



If Twitter is confident in its publicized spam estimates, Mr. Musk does not understand the company’s reluctance to allow Mr. Musk to independently evaluate those estimates. As noted in our previous correspondence, Mr. Musk will of course comply with the restrictions provided under Section 6.4, including by ensuring that anyone reviewing the data is bound by a non-disclosure agreement, and Mr. Musk will not retain or otherwise use any competitively sensitive information if the transaction is not consummated.
Based on Twitter’s behavior to date, and the company’s latest correspondence in particular, Mr. Musk believes the company is actively resisting and thwarting his information rights (and the company’s corresponding obligations) under the merger agreement. This is a clear material breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement.
Click to expand...
Juts more negotiation? What is the next step? Twitter sues Musk, in a Washington DC court, and judge rules 'fair value' for Twitter is $500 per share?


Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com
 
Knoxville's Joker

Knoxville's Joker

Has No Life - Lives on TB
WalknTrot said:
All those sites are at least 50% garbage accounts. Good for him calling 'em out. The (paying) advertisers should have done it years ago.
Click to expand...

They can not perse. Part of existing contracts. The other factor is the lies are so deeply rooted that they can not see the truth.
 
jward

jward

passin' thru
I don't understand the half of it, and am more than half convinced he's just another trojan horse to give us hope, but. . .
it's kinda brought a ghost o' a smile to my face to watch the changing headlines on the issue : )
 
Knoxville's Joker

Knoxville's Joker

Has No Life - Lives on TB
jward said:
I don't understand the half of it, and am more than half convinced he's just another trojan horse to give us hope, but. . .
it's kinda brought a ghost o' a smile to my face to watch the changing headlines on the issue : )
Click to expand...

perhaps. Since tesla and eddison/westinghouse there has been another inventor business man like him
 
packyderms_wife

packyderms_wife

Neither here nor there.
My guess is that half of the accounts on facespy are also fake/bots/spam, and this is based upon some really crazy posts made in various conservative groups.
 
jward

jward

passin' thru
Insider Paper
@TheInsiderPaper


BREAKING Elon Musk’s deal to buy Twitter is in serious jeopardy, 3 people familiar with the matter say, as Musk’s camp concluded that Twitter’s figures on spam accounts are not verifiable, Washington Post reports
 
Warm Wisconsin

Warm Wisconsin

Easy as 3.141592653589..
jward said:
I don't understand the half of it, and am more than half convinced he's just another trojan horse to give us hope, but. . .
it's kinda brought a ghost o' a smile to my face to watch the changing headlines on the issue : )
Click to expand...

how could you say such a thing! He is the true tea party corporatist nationalist candidate we have been waiting for all these years. Just be patient
 
I

intothatgoodnight

. . .
Knoxville's Joker

Knoxville's Joker

Has No Life - Lives on TB
He knew the number was higher than his stated percentage well in advance.

He walked away then buys for pennies on the dollar.

They try to sue then he countermands with actual data that refutes their argument and causes multiple leaders getting prison time for fraud

Twitter has to be very careful as the lawsuit discovery could get very, very ugly for twitter and actually cause a civil suit to go criminal.
 
jward

jward

passin' thru
apparently this is only one of many Musk matters worth muttering 'bout; in other news, his father and his (Elon's) wife's daughter have just had a second (?) child together.
This is why I cut the cord. This is also why I am often heard muttering "ignorance is bliss" with one hand over me eyes, and the other splayed across my ears.






Tom Fitton
@TomFitton
4h

NEW:
@ElonMusk
files response to
@Twitter
lawsuit. Discloses Twitter hand reviews only 100 "random" accounts a day to check for bots. Musk cites need for dozens of witness depositions, including company leadership.
 
jward

jward

passin' thru
Elon Musk Files Countersuit Against Twitter
Sarah Arnold


Tesla CEO Elon Musk filed a countersuit against Twitter, intensifying his legal battle with the social media platform over pulling out of his $44 billion agreement to buy out the company.
The 164-page lawsuit was filed under seal just minutes before the 5 p.m. judge imposed deadline.
According to the New York Post, the contents of the suit were not immediately released to the public, however a redacted version may be available next week.
“I have reviewed the counterclaims and declare that the matter contained therein insofar as it concerns my acts and deeds is true, and insofar as it relates to the acts and deeds of any other person, I believe it to be true,” an accompanying filing signed by Musk read.

The Wall Street Journal reported that the lawsuit includes a quote from Warren Buffett: “Only when the tide goes out do you discover who’s been swimming naked.”
The quote is apparently in reference to Musk’s accusation that Twitter has hidden a fake account problem.
Musk’s lawsuit comes hours after Chancellor Kathaleen St. J. McCormick of a Delaware court ordered a five-day trial beginning October 17 to determine if Musk can walk away from the deal.
According to NBC, Musk asked the court to keep some details of the suit confidential despite the billionaire being vocal on the social media platform months leading up to it.

Earlier this year, Musk announced he was buying Twitter for $44 billionaire, however he backed out in July after claiming Twitter of lying about the number of spam and bot accounts on its platform, and denying him access to information about their handling of these accounts.
In return, Twitter sued Musk after he terminated the deal, sending the two to fight it out in court for not holding up his end of the deal.

townhall.com

Elon Musk Files Countersuit Against Twitter

townhall.com townhall.com
 
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jward

jward

passin' thru

Judge Rules Twitter Must Turn Over Hidden Documents to Elon Musk Revealing Fake Accounts on Platform​


Kyle Becker

3-4 minutes


MUSK-758x426.jpg


A judge on Monday ruled that Twitter must turn over documents from a former executive that would show how many ‘fake accounts’ are on the platform.

“Twitter needs to give Elon Musk documents from a former Twitter executive who Musk said was a key figure in calculating the amount of fake accounts on the platform, according to a Monday court order,” Reuters reported.

“Bot and spam accounts on Twitter have become a central issue in the legal fight over whether Musk, who is Tesla Inc’s chief executive, must complete his $44 billion acquisition of the social media company,” the report noted.

“Twitter was ordered to collect, review and produce documents from former General Manager of Consumer Product Kayvon Beykpour, according to the order from Chancellor Kathaleen McCormick of the Delaware Court of Chancery,” the report added.

Elon Musk announced in early June that he would abandon his $44 billion Twitter offer after the company failed to provide satisfactory information about fake ‘bot’ accounts. Twitter sued the Tesla CEO to force him to uphold the deal.

In a letter to Twitter’s board, Musk’s lawyer Mike Ringler complained his client had sought data to determine how many “fake or spam” accounts are on the social media platform.
"*" indicates required fields

“Twitter has failed or refused to provide this information. Sometimes Twitter has ignored Mr. Musk’s requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr. Musk incomplete or unusable information,” the letter said.

Musk could be on solid legal ground to pull out of the deal if Twitter had attempted to defraud him during the takeover process.


“A reverse breakup fee paid from a buyer to a target applies when there is an outside reason a deal can’t close, such as regulatory intermediation or third-party financing concerns. A buyer can also walk if there’s fraud, assuming the discovery of incorrect information has a so-called ‘material adverse effect.’ A market dip, like the current sell-off that has caused Twitter to lose more than $9 billion in market cap, wouldn’t count as a valid reason for Musk to cut loose — breakup fee or no breakup fee — according to a senior Mergers and Acquisitions lawyer familiar with the matter,” CNBC reported.



Twitter’s documents could help the billionaire entrepreneuer take over the social media giant for a lower asking price than previously offered. It may be the only hope for salvaging a platform that promises even more censorship of conservative voices ahead of the 2022 midterms.

Notice: This article may contain commentary that reflects the author's opinion.
trendingpolitics.com

Judge Rules Twitter Must Turn Over Hidden Documents to Elon Musk Revealing Fake Accounts on Platform

A judge on Monday ruled that Twitter must turn over documents from a former executive that would show how many 'fake accounts' are on the platform. "Twitter needs to give Elon Musk documents from a former Twitter executive who Musk said was a key figure in calculating the amount of fake accounts...
trendingpolitics.com trendingpolitics.com
 
H

Housecarl

On TB every waking moment
jward said:

Judge Rules Twitter Must Turn Over Hidden Documents to Elon Musk Revealing Fake Accounts on Platform​


Kyle Becker

3-4 minutes


MUSK-758x426.jpg


A judge on Monday ruled that Twitter must turn over documents from a former executive that would show how many ‘fake accounts’ are on the platform.

“Twitter needs to give Elon Musk documents from a former Twitter executive who Musk said was a key figure in calculating the amount of fake accounts on the platform, according to a Monday court order,” Reuters reported.

“Bot and spam accounts on Twitter have become a central issue in the legal fight over whether Musk, who is Tesla Inc’s chief executive, must complete his $44 billion acquisition of the social media company,” the report noted.

“Twitter was ordered to collect, review and produce documents from former General Manager of Consumer Product Kayvon Beykpour, according to the order from Chancellor Kathaleen McCormick of the Delaware Court of Chancery,” the report added.

Elon Musk announced in early June that he would abandon his $44 billion Twitter offer after the company failed to provide satisfactory information about fake ‘bot’ accounts. Twitter sued the Tesla CEO to force him to uphold the deal.

In a letter to Twitter’s board, Musk’s lawyer Mike Ringler complained his client had sought data to determine how many “fake or spam” accounts are on the social media platform.
"*" indicates required fields

“Twitter has failed or refused to provide this information. Sometimes Twitter has ignored Mr. Musk’s requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr. Musk incomplete or unusable information,” the letter said.

Musk could be on solid legal ground to pull out of the deal if Twitter had attempted to defraud him during the takeover process.


“A reverse breakup fee paid from a buyer to a target applies when there is an outside reason a deal can’t close, such as regulatory intermediation or third-party financing concerns. A buyer can also walk if there’s fraud, assuming the discovery of incorrect information has a so-called ‘material adverse effect.’ A market dip, like the current sell-off that has caused Twitter to lose more than $9 billion in market cap, wouldn’t count as a valid reason for Musk to cut loose — breakup fee or no breakup fee — according to a senior Mergers and Acquisitions lawyer familiar with the matter,” CNBC reported.



Twitter’s documents could help the billionaire entrepreneuer take over the social media giant for a lower asking price than previously offered. It may be the only hope for salvaging a platform that promises even more censorship of conservative voices ahead of the 2022 midterms.

Notice: This article may contain commentary that reflects the author's opinion.
trendingpolitics.com

Judge Rules Twitter Must Turn Over Hidden Documents to Elon Musk Revealing Fake Accounts on Platform

A judge on Monday ruled that Twitter must turn over documents from a former executive that would show how many 'fake accounts' are on the platform. "Twitter needs to give Elon Musk documents from a former Twitter executive who Musk said was a key figure in calculating the amount of fake accounts...
trendingpolitics.com trendingpolitics.com
Click to expand...

BOOM!!!!!!!
 
H

Housecarl

On TB every waking moment
jward said:
shh use yer indoor voice, ya scared the kitty ; )



..maybe interesting tidbit, perhaps not...




zerohedge
@zerohedge
1m

Elon Musk is expected to be a featured speaker at House Republican Leader Kevin McCarthy’s Wyoming retreat Tuesday: NYT
Click to expand...

Hummm......

If Twitter was "unbiased", it would go a long way to further undermining the MSM/Government-Media Complex this time around. That doesn't even get into the amount of support Musk could give to those who are facing the same opponents as he is, and will be in increasing intensity with a Twitter buy no matter what he does with the platform.
 
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