Everything You Need to Know about Elon Musk's $44bn Twitter acquisition

[JasonUK]

My guess he's doing this to distract Twitter from the midterms. If they're talking about him they'll be less likely to be censoring.

 

[upnorth]

Elon Musk has reportedly told investors in his Twitter buyout that he will gut the workforce by 75 percent once his court-ordered takeover concludes. However, Twitter told staff there have been no plans for company-wide layoffs ever since the mogul signed the merger agreement. According to documents obtained by The Washington Post, Musk told prospective investors in the deal that he aimed to slash Twitter's 7,500 staff down to 2,000.

The newspaper claims that cuts are on the horizon whether or not Musk's takeover goes ahead. Citing corporate documents and "people familiar" with the matter, management wants to reduce payroll by $800 million, or nearly a quarter of the workforce. Twitter is also considering reducing its infrastructure overheads, "including datacenters that keep the site functioning for more than 200 million users that log on each day."

Twitter General Counsel Sean Edgett warned workers to expect "tons of public rumors and speculation" as the October 28 deadline for the deal draws near in an internal memo.

Elon Musk reportedly wants to cut Twitter workforce by 75%

Twitter tells staff it knows of no plans, though. Plus: billionaire's ventures could take heat from Committee on Foreign Investment

www.theregister.com

 

[oldschool]

Twitter is losing its most active users, internal documents show

Twitter is struggling to keep its most active users – who are vital to the business, generating half revenue – engaged.

www.aljazeera.com

 

[upnorth]

Elon Musk completed the $44 billion purchase of Twitter today, capping a months-long saga that resulted in Twitter suing Musk to force him to honor their merger agreement. Musk's first course of business was to fire top executives.

"Musk fired Chief Executive Parag Agrawal and Chief Financial Officer Ned Segal after the deal closed" on Thursday, The Wall Street Journal wrote. Twitter legal chief Vijaya Gadde and general counsel Sean Edgett were also reportedly fired by Musk. It's not yet clear who will be the CEO under Musk's ownership.

Elon Musk completes Twitter purchase, immediately fires CEO and other execs

Musk completes $44B purchase, fires CEO Parag Agrawal and others.

arstechnica.com

 

[oldschool]

Elon Musk completes Twitter purchase, immediately fires CEO and other execs

Musk completes $44B purchase, fires CEO Parag Agrawal and others.

arstechnica.com

See post #23. That trend will only continue now that Musk has brought his sink into the office, started reducing an already lean workforce and is opening up T to more crazies. Free speech is essential but users with big followings and most advertisers, won't want to be associated with those disassociated from reality, which is what's driving them away.

Let's see what happens when he continues to lose adverti$er$.

 

[vtqhtr413]

More, of course.

Elon Musk Reportedly Brings Tesla Engineers Into Twitter Office To Scrutinize Codes After Takeover

 

[rain2reign]

In a way, I found Musk's move in court to be a stroke of genius. The executives of Twitter didn't want to release some information willingly, therefore while the court case was ongoing, he forced them to release the information through the judge.

On another note, pruning of executives is not uncommon when a new CEO takes over and replaces them with their own 'trusted' circle. I don't see the need for a cause for such an uproar about the fired executives, as this is very common practice in corporate business/culture.

 

[vtqhtr413]

In a way, I found Musk's move in court to be a stroke of genius. The executives of Twitter didn't want to release some information willingly, therefore while the court case was ongoing, he forced them to release the information through the judge.

On another note, pruning of executives is not uncommon when a new CEO takes over and replaces them with their own 'trusted' circle. I don't see the need for a cause for such an uproar about the fired executives, as this is very common practice in corporate business/culture.

Yes, it's nothing new and those executives were being handed million dollar bills as they exited the building, what a waste, IMHO, no individual is worth that kind of money, it just gives capitalism a black eye.

 

[oldschool]

On another note, pruning of executives is not uncommon when a new CEO takes over and replaces them with their own 'trusted' circle. I don't see the need for a cause for such an uproar about the fired executives, as this is very common practice in corporate business/culture.

They're reducing not only executives but moderators. Twitter had ~ 7,500 employees. Now compare that to FB, Instagram, SnapChat, etc. Most or all of them have more, many more employees. Poorly moderated social media sites like Fortran, Truth Social etc. don't make $$$.

Musk is creating a version of ECorp, with his fingers in lots of different pots. Time will tell ...

 

[oldschool]

Welcome to hell, Elon

Owning Twitter means owning a host of impossible political problems. Is Elon ready?

www.theverge.com

I say this with utter confidence because the problems with Twitter are not engineering problems. They are political problems. Twitter, the company, makes very little interesting technology; the tech stack is not the valuable asset. The asset is the user base: hopelessly addicted politicians, reporters, celebrities, and other people who should know better but keep posting anyway. You! You, Elon Musk, are addicted to Twitter. You’re the asset. You just bought yourself for $44 billion dollars.

I can't believe how Nilay Patel nailed it!

 

[entropism]

I can't wait until this narcissistic fool launches himself into space permanently. The world would be better off.

 

[military]

With his arrival, won't the Twitter become more open to everyone?
I mean for different opinions, including those whose opinions differ from the majority? or will the opinions of the majority (democratic) be oppressed now?

 

[Digmor Crusher]

With his arrival, won't the Twitter become more open to everyone?
I mean for different opinions, including those whose opinions differ from the majority? or will the opinions of the majority (democratic) be oppressed now?

Yes, it will become more open to disinformation, conspiracy theories, lies, propaganda etc. Basically it will become a worse cesspool then it is now. As if the US isn't messed up enough already.

 

[Digmor Crusher]

In a way, I found Musk's move in court to be a stroke of genius. The executives of Twitter didn't want to release some information willingly, therefore while the court case was ongoing, he forced them to release the information through the judge.

On another note, pruning of executives is not uncommon when a new CEO takes over and replaces them with their own 'trusted' circle. I don't see the need for a cause for such an uproar about the fired executives, as this is very common practice in corporate business/culture.

Yes, he is a genius, too bad he's such an idiot.

 

[piquiteco]

Yes, he is a genius, too bad he's such an idiot.

He's a visionary, it's really a shame.

 

[JasonUK]

Yes, it will become more open to disinformation, conspiracy theories, lies, propaganda etc. Basically it will become a worse cesspool then it is now. As if the US isn't messed up enough already.

At least it will be a balanced cesspool Who gave private companies like twitter the right to decide what 'truth' is anyway when they claim only to be a platform not a publisher?

 

[ForgottenSeer 69673]

no individual is worth that kind of money, it just gives capitalism a black eye.

Tell Musk that. He only only worth close to a trillion now LOL

I can't wait until this narcissistic fool launches himself into space permanently. The world would be better off.

Well G now. this fool is giving FREE internet to Ukrain. Is that also a bad thing?

 

[oldschool]

Well G now. this fool is giving FREE internet to Ukrain. Is that also a bad thing?

Well, no it's not a bad thing but he's certainly full of contradictions. Given enough time, we'll see if his Twitter deal turns out to be 'genius'.

 

[ForgottenSeer 69673]

He is probably realizing that he will lose the lawsuit so that would be money wasted. He might also want to change the current news cycle about him, where he went on Twitter and started supporting Russia over the war in Ukraine, thus plummeting Tesla stock by 11% and having many folks canceling their Tesla orders. Furthermore, he thinks of himself as the Next Tony Stark without realizing that it's his engineers that do the thinking and designing and not him. People don't realize that he did not get rich by himself, his daddy gave him billions from slave workers at his Emerald mine, so he started rich. As you can tell I despise Musk.

Musk don't like his Daddy

I think if Donald Trump does not run in 2024, Musk will name him CEO

You people should watch the video of Musks interviewing with the normal people that make Happy Dads Beer. You see any other jokers that think they have money doing that in their T shirts. Giving 3 hours of their persons time to common day joes and janes.

 

[oldschool]

Another take on Musk's very bad, over-leveraged deal:

Please God, Let Elon Musk Kill Twitter

The world will be a better place.

thetriad.thebulwark.com

This will be sweet vengeance.