Elon Musk offers to buy Twitter and take it private

lizmonster

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If this goes through, I'm out. Not because Musk is worse than Zuckerberg or Bezos or any of the other tech billionaires - arguably, he's often used his money for some good things. But he's shown zero signs of being able to keep his fingers out of the day-to-day function of something like this.

He's used Twitter for sexist jokes, ill-considered accusations, simplistic political arguments, and actual SEC violations. He's freaked out his own board with his Twitter behavior. Zero chance he'll be a good influence if he gets full power over the place.

The bros on Twitter are already gleefully joking he'll rename it "Titter."
 

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But he's shown zero signs of being able to keep his fingers out of the day-to-day function of something like this.
He’s shown zero signs of being able to not be a dick for more than a few days at a time. I admire what SpaceX is doing, but Musk is an ass.
 

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If Musk buys Twitter, AW will be my only social media. He will also, absolutely, let TFG back on, so say goodbye to democracy even quicker.
Which was my first thought exactly.

I can't see any good coming from Musk buying Twitter. Not one. Would love to be wrong on that, but I don't see it.
 

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omg, what a joke/disaster that would be. What an inveterate asshole that boy-man is.
I don't think any social media billionaire sees women as fully human, but still. Some of them put a polite face on it.
 

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I had to unfollow a musician I like this morning because he's started offering NFTs.

People really don't care, do they?
Oh they care.

About dollar signs. Even if the dollars are fake and useless.
 

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Oh they care.

About dollar signs. Even if the dollars are fake and useless.
These aren't even particularly big names. I get the desperation and FOMO that goes into trying to market your art, especially in a climate where the actual performer isn't seeing much of a percentage. But NFTs? That's just...kinda smarmy, never mind all the destructiveness behind the system.

Sigh.
 

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There’s much that’s unsavory about this.

Musk calls himself a “free speech absolutist” (meaning, any restrictions on what you can say are bad), and that “free speech is essential to a functioning democracy”. This is the same guy who fired a Tesla employee whose YouTube channel showed some problems with their cars’ self-driving beta software. Anyone think that if Musk owns Twitter, there’d be no repercussions for tweeting ”Musk is a pedo guy” (as Musk once tweeted baselessly about British diver Vern Unsworth)?

Even if he genuinely did squash all moderation there, it’d be a complete cesspool as a result.

Personally, I wonder if this latest offer isn’t an attempt to pump the stock, while he quietly unloads some of what he recently bought?
 

lizmonster

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Personally, I wonder if this latest offer isn’t an attempt to pump the stock, while he quietly unloads some of what he recently bought?

How bad is it that I kinda hope this is true?

I like Twitter. I get breaking news and cats.
 

ElaineA

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But NFTs? That's just...kinda smarmy, never mind all the destructiveness behind the system.

Sigh.
NFTs are nothing but an MLM gone publicly huge. I'm not surprised it sucks people in just like any other MLM.

Personally, I wonder if this latest offer isn’t an attempt to pump the stock, while he quietly unloads some of what he recently bought?

He's being sued by shareholders over his failure to disclose his purchase for 9 days, the board required a background check and other SOP disclosures and he didn't want to do them so he refused his seat on the board, and now this. There's a definite air of "methinks he doth protest too much" about all of it. He is such a big-talkin' small fry.

The absolute dregs of the US rightwingosphere are having a blast, though, which tells me everything I need to know. :sick:
 

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Remember the age old addage: if the product is free...then YOU are the product. Social networks are free because you spend your time there, you're emotionally invested there, and you're handing over information about what you like/believe. Advertisers are able to use that information; the better the info, the more invested the users, the more it's worth. [A facebook user is worth over $400 and a Twitter user is over $200]. [Redditors, meanwhile, are worth 30 cents lol] and that, in part, is "Redditor" is an insult because so much of it is hot garbage*.

Tumblr was worth a button when it was bought by aol/verizion/oath because it had a ton of active, passionate users who spent a lot of time there. I was one of them! I constantly hit the daily post limit! And then, in an attempt to make it more advertiser-palatable, they banned porn. Turns out a lot of people like looking at porn on tumblr, so a ton of people left. That's why it was sold at a loss of over 99% of its value, it scared away all of its valuable users and the only ads people put on there were spam-y ads, like the kind you see at the bottom of articles on msn.com.

Gab, Parler and Truth Social are going to die because they are not going to have a source of income. No one is going to advertise on there. Politicians will, tiny companies will, but not Coke, not Ford, not the companies with billions in annual ad budgets (politicians have big ad budgets but that's not 24/7/365). Reddit is able to keep afloat because they're milking users for all they're worth with gold/plat/upvote coins or whatever the fuck.

Yes, Twitter is trying to diversify its income streams with Twitter Blue and the like...but if everyone flees because Elon buys it, well, not as many people are gonna buy blue. Assuming blue is $4 (which is what I've heard), that's 50 months of subscription to equal the value of a $200 user (this is, of course, ignoring the ~2.9% + 30c transaction fee from doing a credit/debit/paypal transaction, so it would be way more than 50 months). More people are going to leave than buy blue. Letting people like Trump and Russia Today back on is going to make big advertisers flee, and that's not going to be fixable. That's what happened after Jan 6, they paused all ads until places banned Trump. And it worked.

So if this does happen, unfortunately, I will do my part in destroying Twitter. I will be a weird furry/horny on main, I will bully every Tesla car I see, I will tweet about the apartheid emeralds and how PayPal is a piece of shit that nobody should ever use (unless they are forced to pay a company they don't like, then they should use PayPal to make that company's life a little worse). And I'll tweet about how Grimes and Chelsea Manning should continue with their scheme to get the most child support in the history of the world, because they deserve it, and it would be funny. [aka this tweet]

The only reason the furry fandom hasn't been privately commoditized yet is because there are so many weird furries with weird kinks, no self-respecting company wants to risk attracting THOSE KINDS OF PEOPLE. But if we all turn into those kinds of people in a protracted, uncomfortably detailed TF sequence, we can turn Elon into the most miserable man alive. It's what he deserves.


*Yes, I'm aware not all of it. But my roommate finally quit it because the ones she goes on tend to be full of liberal young women and even THOSE communities were being filled with antisemitism
 

Roxxsmom

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Even if he genuinely did squash all moderation there, it’d be a complete cesspool as a result.

Personally, I wonder if this latest offer isn’t an attempt to pump the stock, while he quietly unloads some of what he recently bought?
One hopes.

Funny how free speech absolutists are always folks whose wealth makes them immune from the consequences of harassment, bullying, stalking, and political extremism.

And it's weird how they echo the mantra that the answer to extremism and idiocy is even less moderation.

If the past ten or so years have taught us anything it's that "anything goes" social media platforms have not resulted in a triumph of reason and moderation over idiocy and extremism.

Idiots and extremists have existed since, well, forever. Social media is giving them the upper hand. They used to say "A lie makes it around the world before the truth gets its boots on." Now lies can encircle the globe endlessly while the truth stares up at them, sputtering indignantly.

I have a certain admiration and envy for people who have managed to stay completely off platforms like Twitter and Facebook. It would be hard to back away from it now, though. It's become the default way of touching bases with people, including some who provide services I need. Even pet adoption places say, "Check out our Facebook page" nowadays, and the local power agencies tell us to check Twitter for outage information (which is a heck of a lot easier than remembering my login information for their website on my phone).
 

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Twitter's board of directors today approved a poison pill to prevent a hostile takeover in response to Elon Musk's offer to buy the firm. "The company on Friday adopted a so-called poison pill that makes it difficult for him to increase his stake beyond 15 percent," The Wall Street Journal wrote today.

In a press release, Twitter said its board unanimously "adopted the Rights Plan following an unsolicited, non-binding proposal to acquire Twitter."
”Eff you, Elon.” —Twitter
 

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Interesting, because I just read an article re the Twitter board with concerned employees stating that they were considering the offer and will act in the best interest of shareholders. I assume shareholders would favor the sale, as Musk is offering more than the current share value.

This article is dated 4/14. though, so it looks like the board is more concerned about long term company culture than short term gains?
Twitter CEO Parag Agrawal is trying to assuage employee fears in the wake of Elon Musk launching a hostile $43 billion takeover attempt of the social media company.


At an all-staff meeting on Thursday, Agrawal said Twitter's board is considering Musk's offer and will act in the best interest of company shareholders, according to two employees in attendance.


When an employee suggested that Musk's aggressive acquisition bid felt like a hostage situation, Agrawal dismissed the notion.


"I don't believe we are being held hostage," Agrawal shot back, according to the employees.

After the meeting, many were dismayed, saying they feel like they were being left in the dark about what was really going on and that a Musk-owned Twitter represents, to some, a nightmare scenario, given Musk's long history as a volatile business leader.

"The culture here and this platform deserves to be protected, and I hope the Board does the brave thing and refuses the offer," said one Twitter employee who requested anonymity. "Our democracy is more important than a payout," this employee said. "I hope the Board agrees."

But this Twitter worker added: "It does feel like there isn't much we can do as employees," this person said.
 

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I had to unfollow a musician I like this morning because he's started offering NFTs.

People really don't care, do they?
I used to buy the occasional doll from a doll company. Yesterday I got an e-mail from them offering NFTs.
They sell toys, FFS!
I have blocked them.
 
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frimble3

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Interesting, because I just read an article re the Twitter board with concerned employees stating that they were considering the offer and will act in the best interest of shareholders. I assume shareholders would favor the sale, as Musk is offering more than the current share value.

This article is dated 4/14. though, so it looks like the board is more concerned about long term company culture than short term gains?
But the one thing Twitter employees can do is leave if it looks bad.
How does Twitter manage if there are no managers? Or lower or upper levels, or specialists?
I would imagine that, if nothing else, Twitter employees have moderate-tech experience, and should be able to find work.
And it's going to be hard to get good people for Twitter 'if' Musk turns out to be a pain?