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Quietly acquires shares at $33 then waits until news brakes about it, causing a bump to over $49, then offers offers (but not legalistically) to buy Twitter for $54 a share when the current price is $43, again causing a spike, but laying the groundwork for a selloff at a high if he's turned down...
Elon doing something dodgy with stocks?
Of course he is.
I’d like to see how quickly Twitter descends into chaos if he was in charge.
He’s being sued by shareholders for not informing the relevant authorities that he’d acquired more than 5%.
I'm not sure we have enough Musk-lovers on here to spark a proper argument.
yup
Quietly acquires shares at $33 then waits until news brakes about it, causing a bump to over $49, then offers offers (but not legalistically) to buy Twitter for $54 a share when the current price is $43, again causing a spike, but laying the groundwork for a selloff at a high if he’s turned down…
Not that unusual, a 50% premium for a hostile bid obs bumps up the share price temporarily and if the bid fails, the share price normally falls back.
I hope he fails purely to keep Trump off Twitter.....
Sociopaths gonna sociopath...
I like Trump being on Twitter. It makes it easier to call him out as an idiot when the worlds tumble from his own mind, directly on to Twitter. He also, through his tweets, draws out all those strange folk who support him, making them easy to identify, too!
Twitter. It makes it easier to call him out as an idiot when the worlds tumble from his own mind, directly on to Twitter
That's just preaching to one choir, the other choir (Trump fans) don't care and as we have seen he's quite capable of creating civil unrest, so for the sake of humanity it's best he's silenced.
Sociopaths gonna sociopath…
is my view also
I'm fairly sure most people buy low sell high.
Everything he does with regards to stocks will probably be seen as manipulation even when it isn't.
I'm no Elon fanboi, but I'm not sure manipulating the twitter stock price necessarily marks someone as a sociopath.
Shameless greedy capitalist, sure...
but I’m not sure manipulating the twitter stock price necessarily marks someone as a sociopath.
It's just a continuum of his behaviour is all.
It's normal for him I don't understand why he is chasing pennys thou.
Pennys if you're stinking rich that is. Ego mostly I suspect
I’m fairly sure most people buy low sell high.
Guess you don't frequent crypto channels on telegram then 🤣
It’s normal for him I don’t understand why he is chasing pennys thou.
Pennys if you’re stinking rich that is. Ego mostly I suspect
I don't think he's in it for money, he seems to work on another level to capitalism, none of the other super rich billionaires seem to be in the same mindset, you can see a few of them don't like the guy or what he does, personally i haven't a clue what he's about!
Wonder what he wants with Twitter, seems a bit of a weird one for a guy like that.
If we get an Edit button, I'll be happy.
I bought a few Twitter shares months ago, and they've just slid since! So if anything manipulates the price upwards, perhaps I can break even. Don't fancy my chances, though.
Twitter is somehow a fairly poorly-performing company, despite its huge reach. It's well overdue a shakeup, whether that's by Elon or someone else.
sharkbait
Free MemberI’m fairly sure most people buy low sell high.
Most people don’t have the ability to dramatically alter the stock price by talking about it after they’ve bought it and before they chose to get out.
He bought ~75 million shares at $33 a share. If he can manipulate it and sell at the value he defined ($54), he’ll make over $1.5bn! In cash! With a purchase and a tweet.
Shameless greedy capitalist
Isn't that the point of capitalism ? 😆
Most people don’t have the ability to dramatically alter the stock price by talking about it after they’ve bought it and before they chose to get out.
He can't chhose to get out if he has made a bid, he is bound by its terms. Failing to disclose a stake within the time limit is likely to cost him though.
It's a way to manipulate the board members.
Like him or loath him, Elon is bloody effective!
mefty Free Member
He can’t chhose to get out if he has made a bid, he is bound by its terms. Failing to disclose a stake within the time limit is likely to cost him though.
From the above it looks like he hasn't made a formal offer yet, he's just said he has. He's also threatened that if he doesn't get his way he'll sell off his ~10% stake, which would presumably tank the stock price.
He still owes Spectre hundreds of millions of dollars after losing that game of poker.
The world richest person with wealth of more than US200 billions!
Always wonder how they spend the money ...
I’m not sure we have enough Musk-lovers on here to spark a proper argument.
This will convince em!
https://open.spotify.com/episode/2K2SLvauSCzyAn6jVYIQVV
As a Tesla shareholder I wish he'd shut TFU and stick to making cars!!
I don’t think he’s in it for money, he seems to work on another level to capitalism, none of the other super rich billionaires seem to be in the same mindset, you can see a few of them don’t like the guy or what he does, personally i haven’t a clue what he’s about!
TBH I’d put him on the shelf with Steve Jobs.
I think you need them but they aren’t probably the greatest role models, they seem to have a greater vision/passion thou.
I think you need them
God no. People like Musk are a massively corrosive influence in the world.
Just out of interest, why?
This is the same man who has driven EV development/acceptance worldwide and has brought the cost of orbital delivery down to a tiny fraction of what is was (and still would be if Boeing had its way).
Not everything he does is bad.
As a Tesla shareholder I wish he’d shut TFU and stick to making cars!!
If they were valued like every other car manufacturer then your shares would massively drop.
has brought the cost of orbital delivery down to a tiny fraction of what is was
I think you would struggle to find anyone who really cares about that.
They should do considering its affected or everyday lives
We could start with the Ukrainian army who are using his starlink satellites...
Just out of interest, why?
This is the same man who has driven EV development/acceptance worldwide and has brought the cost of orbital delivery down to a tiny fraction of what is was (and still would be if Boeing had its way).
Not everything he does is bad.
Well he took over Tesla at the right moment (aggressively pushing it's founders out) and then drove the EV market to become and aspirational (unaffordable) marketers wet dream when we actually need them to be affordable now not in ten years.
He hoovered up government contracts to build a vanity rocket project so he can eventually escape the sweaty proles to Mars and add to the debris orbiting our planet. He ripped off the Vegas convention centre who ordered for a mass transit system and got Teslas in a tunnel.
He consistently reinvents his past and edits others efforts out of "his achievements" his "billions" are actually loans secured against his Tesla shares so he can avoid tax. He apparently treats women like shit.
And he frequently uses social media to influence his impressionable tech-bro fanboys into inflating the value of whatever bullshine he's gotten onboard with lately... And now he's trying to fluff the value of Twitter itself to turn a quick buck.
He's not some later day altruistic Tony Stark, he a manipulate tech influencer standing on the shoulders of actual engineers, with a useful public persona, trying to scam money and influence before it all comes crashing down...
All IMO of course...
If they were valued like every other car manufacturer then your shares would massively drop.
I think that's the point - they aren't like every other car manufacturer. They have a big head start in a technology that is changing the auto industry.
Trouble is he’s marmite, same as Jobs.
It's basically a problem with the stock market- it fails as soon as you have single investors with enough punch to move prices through their own actions, and who have the means to gain from it. Whether that's hedge funds with shorts, or Elon Musk with rumours. We respond to it like it's shocking when someone does it too blatantly but it's inherent to the system now and the rules and occasional penalties are just a token effort, not even a bandaid. it's not a system that gets manipulated, it's a manipulation system.
I can't really blame Musk for any of it, bellend that he is. At least he's not sitting in a boardroom with billions of pounds of other people's money planning how to use it to destroy profitable businesses
He's probably done all the negatives stated, but again, there is an aura about him that make people invest, give him time or just let him away with all the indiscretions that he does, you can see his traits, he doesn't hide them, many times in the past Tesla could have folded, but he was give more and more slack, i don't think they turned a (real) profit until recently, which didn't tie in with how much it was valued.
He doesn't really bring in a lot of old money, the likes of Warren Buffet talk against this type of business, same with Apple, but Musk survives because he has that aura and people invest, and now he has a solid foundation due to the maturity of his businesses, and you can see that with how he is looking at buying up other things, again, god knows what Twitter will bring him, the man is meant to be focused on making EV's affordable and hitting his price point, getting to Mars, etc, Twitter isn't going to help with any of that!
god knows what Twitter will bring him,
He’s a spoilt little gobshite that is used to mouthing off and getting his own way so it’s only natural that he wants to control the narrative.
I'm just posting this to see what you lot think about the latest news:
https://twitter.com/elonmusk/status/1518677066325053441?s=20&t=NaUxfqlHXCkQZHfLfKtEOg
"Defeating spambots and authenticating all humans"
He may be preaching to the choir there - apparently almost 50% of his 6 million followers are bots 🙂
I wonder if he'll get the same return on his investment in Twitter as Murdoch got from buying MySpace
Unlimited money, in any conventional sense, to buy power/ influence and only his own morality to have to answer to. Too much power in one individuals hands rarely ends well in my opinion.
Strange and worrying times.
Perhaps we are seeing the start of the long predicted supremacy of corporations over national governments?
I wonder what will win between his alleged belief in free speech and his habit of throwing hissy fits whenever anyone says something remotely critical of him.
Well he took over Tesla at the right moment (aggressively pushing it’s founders out) and then drove the EV market to become and aspirational (unaffordable) marketers wet dream when we actually need them to be affordable now not in ten years.
That's not how it happened.
Back then, batteries suitable for EVs were extremely expensive, which meant it was impossible to build an EV with decent range that wouldn't cost a ton without massive investment. And no-one wanted to invest because everyone thought EVs would be rubbish (remember all the milk float jokes and the G-Wiz?). Tesla realised that you can make an EV go really really fast with no real downsides just by making the wires thick enough to handle that much current. Then they made them look snazzy and suddenly it's a supercar with mind blowing performance and it's actually worth all that money. They masked the cost of the batteries by making it a premium product. So then everyone thinks EVs are cool; Tesla make more affordable ones and start rolling out a huge charger network. Now that EVs are cool all the other manufacturers scramble to create them which means loads more investment in batteries and they become much cheaper. So governments realise they can get an easy eco-win by proposing ICE bans, and now there's a massive market and battery prices are being driven way down. A Nissan Leaf in the USA costs the customer only $19,000. This is exactly what you were asking for and it's all because of Tesla and possibly even just Musk.
I think he's a bit of a knob and not anywhere near as amazing as everyone makes out, but you can't deny he's done most of the work when it comes to EVs.
That’s not how it happened.
If you say so.
Where's my £10k, 250 mile range Tesla then? I don't need shonky gull-wing doors, self-driving (crashing) AI or a 50" touch screen Just a basic working car what runs on the leccy juice, hold the imaginary robots and cybertrucks cheers.
Yep he's universally lauded.
Anyway let's see how he leverages his Twitter shares shall we?
Anyone else reckon those Musky fanbois will have them pumped up to $70 by the weekend?
And Elon will be pushing NFTs to all the suckers on twitter by the end of June?
Perhaps we are seeing the start of the long predicted supremacy of corporations over national governments?
Seems like that already started when the Twitter corporation removed the actual president from communicating via it's platform.
Perhaps Musk is attempting to reverse the trend?
If the bid to buy has been agreed, then there will be a price per share set and it should not go past that. After purchase, he’ll own it as a private company, which means no more shares.
If you own some, you’ll get a fixed price for them (which has been agreed) and then his will become cash. At that point, he doesn’t have to really care what shareholders think or want, he can do what he wants. Theoretically he could open source the whole thing.
Tesla make more affordable ones and start rolling out a huge charger network
Any minute now, no doubt.
If the bid to buy has been agreed, then there will be a price per share set and it should not go past that. After purchase, he’ll own it as a private company, which means no more shares.
I thought he was only buying a controlling share, not a compulsory purchase of the entire company...
Anyway, imagine what you could do with $40B and then thinking; I know, I'll buy Twitter instead.
Where’s my £10k, 250 mile range Tesla then? I don’t need shonky gull-wing doors, self-driving (crashing) AI or a 50″ touch screen Just a basic working car what runs on the leccy juice
First off I'm not a Musk fanboi - I think most of what he says and does is bollocks and he's a garbage human being ...but I think his Tesla strategy has been pretty sound. 10 years ago batteries were the big problem with mass adoption of EVs and although batteries are still one of the main downsides of EVs (cost and range) they've progressed massively and Tesla/Musk has to take a lot of the credit for that. Musk has always stated they need to start with premium models as those have enough margin to fund the technology R&D - if he'd started with a cheap loss-leading model Tesla would be bankrupt by now and it's tech absorbed by larger manufacturers with less incentive to spend so much on EV R&D.
they need to start with premium models
Have you been anywhere near a Tesla? They are quite a bit "not" a premium product.
A Nissan Leaf in the USA costs the customer only $19,000. This is exactly what you were asking for and it’s all because of Tesla and possibly even just Musk.
I imagine it’s at least partly because of Nissan.
Just waiting for the deal to go through.
40b for a website (yeah I know it's more than that)
Could have funded a cure for cancer with that or stopped fossil fuel use in some of the poorest parts of Africa.
So richest guy in the world owns Twitter, 2nd richest owns Washington Post, and Amazon 3rd richest owns FB, 5th and 6th richest started Google, 4th richest started Microsoft, free speech, yeah?
Anyway, imagine what you could do with $40B and then thinking; I know, I’ll buy Twitter instead.
This. Its quite scary isn't it.
It's a bit unfair to drag BillG into this. He's stayed out of a lot of this and has tried at least to do some good stuff (not counting Clippy or Windows ME in that BTW).
But yes, it's a crazy situation. So much power to disseminate information in the hands of a very, very few people. If they could be trusted to be totally benevolent, it would be no problem, but they all have ulterior motives, be it money, or playing god.
Anyway let’s see how he leverages his Twitter shares shall we?
The shares will cease to exist if he's taking it private.
I think he’s a bit of a knob and not anywhere near as amazing as everyone makes out, but you can’t deny he’s done most of the work when it comes to EVs.
Posted 9 hours ago
+1
Without him having driven Tesla all the other manufacturers would still be saying EV cars are just not possible today, wait another 20 years for technology to catch up. He forced their hand by just getting on with it and taking premium market share in the US from the likes of BMW etc. Staggering vision and drive - just a shame he's a total knob.
It’s a bit unfair to drag BillG into this.
In a douche bag contest he could give all of them a run for their money. I know there's been quite a bit of work to clean up his image post Microsoft ownership, but his anti-trust policies back in the day were widely written about, and then There's that time he was deposed and it all went horribly wrong.
Gates was out Musking Elon before he was out of nappies.
Hmmm - an advocate of reducing moderation owning twitter at a time when high profile leaders and nations seem more determined than ever to use untruths as a ploy seems highly concerning.
As someone who does not have a twitter account and has never followed a link through to twitter on another medium (here, bbc news site etc) I could say it'll have little effect of me but obviously that would be bollox. So much news editorial these days seems to be a glorified collation and summary of twitter statements. So many people I walk the streets with (and vote alongside) have their opinions moulded by what they see on twitter. So even my life is significantly moulded by twitter by proxy.
What happened to the poison pill Twitter put in place last week? Was it a complete failure (easy to believe with the current Twitter leadership...), or have they just completely flip flopped to "oh, OK then, since you asked nicely"?
Anyway, imagine what you could do with $40B and then thinking; I know, I’ll buy Twitter instead.
So much opportunity to do good with money. Instead we can can support more cat meme's, Chinese bot's and arguments among folk...
or have they just completely flip flopped to “oh, OK then, since you asked nicely”?
It turned out he was making a viable and serious offer (which given his past record on such matters was reasonable to doubt) and also, most likely, the twitter board got an assessment of how much the company was actually worth and it turned out the offer was a reasonable one.
Ah, makes sense. Suggestion is that the current leadership (tbh the previous leadership too, given that shareholders had to tell Dorsey to stop messing around and either be CEO or not) haven't exactly maximised the company's value, which has rather left it open to a 'reasonable' buyout offer under its shareholder obligations.
Sooo, everyone back to Tumblr then??
The side of the political spectrum that doesn't like free speech or opposing views being aired seems to be monumentally triggered today.
Things were much better when there was just newspapers because the owners of those allowed and promoted a wide range of opinions.
The side of the political spectrum that doesn’t like free speech or opposing views being aired seems to be monumentally triggered today.
Yes the loony right are masturbating furiously over it.
He is a fine example of their idea of a free speech advocate. Wants the right to say what he wants when he wants but has a hissy fit whenever anyone dares say something he doesnt personally like or goes against his business interests.
The side of the political spectrum that doesn’t like free speech or opposing views being aired seems to be monumentally triggered today.
That's a very simplistic take, nut jobs airing extremist views can incite riots / insurrections which end up killing people / over throwing democracies. I would consider that to be something worth worrying about.
The side of the political spectrum that doesn’t like free speech or opposing views being aired seems to be monumentally triggered today.
Yeah they're getting way over excited - they keep forgetting that freedom of speech isn't freedom from consequences.
This is the same Twitter that banned @realDonaldTrump but is fine with the Taliban official account?
This is the same Twitter that banned @realDonaldTrump but is fine with the Taliban official account?
Yes its the same twitter which was fine with the POTUS and Whitehouse official accounts (although with deleting posts which were obviously by him) after the stage where he got banned.
The odd thing about the right wing victimhood complex is he was actually treated as a special case but in the exact opposite way they claim.
Right up until the 6th January he was consistently given exemptions from the rules which applied to everyone else. There were a couple of tests where people copied what he was tweeting and rapidly got themselves banned.
nut jobs airing extremist views can incite riots / insurrections which end up killing people
Like the 30% increase in homicides in the US in 2020? Perhaps someone might try to explain that, with reference to extremist political campaigners using Twitter as a mouthpiece
Gates was out Musking Elon before he was out of nappies.
I don't think any of the current dislike of Bill Gates has got anything to do with anti-trust cases. It seems mostly to do with vaccine conspiracy theories and a belief he is trying to microchip the population and control them with 5g (rather than wipe out malaria).
This is the same Twitter that banned @realDonaldTrump but is fine with the Taliban official account
Yeah, doesn't seem like there's an adequate system for policing bad faith actors in the same way. I prefer not to see Taliban on there, and Twitters explanations fall short of what you'd expect really. Not good.
I can't imagine Musk owning it, will make that better though.
This is the same Twitter that banned @realDonaldTrump but is fine with the Taliban official account?
It’s the same twitter that grants a great deal of leeway to world leaders and important political groups not afforded to regular citizens.
I don’t think any of the current dislike of Bill Gates has got anything to do with anti-trust cases
You've misunderstood I think. Gates is a prickly know-it-all used to getting his own way, and doesn't like to be challenged. He has a weird understanding how "charity" works, (see patent filing) and is as keen to make as much money as he's always been. For some reason that I don't quite understand, lots of folks that should know better seem to think he's some cuddly old dude.
What conspiracy theory nut-jobs think of him is pretty irrelevant to that really.
ah OK, well you've lost me. Your other post just referred to the anti-trust stuff and I don't know about the other stuff you're now referring to with patents.
The side of the political spectrum that doesn’t like free speech or opposing views being aired seems to be monumentally triggered today.
Freedom of speech is such a powerful term. Freedom of speech is not a free ticket to tell lies or to abuse. That becomes even more prescient when the lie tellers are world leaders or influential figures and the act of broadcasting the lies as capably as something like twitter does distorts the commonly held understanding of the truth. The last US election is a textbook example of that and globally we are still suffering the consequences. See also the Ukrainian war and how Putin has been able to twist the truth to the extent that swathes of the Russian population hold such odd views on the topic.
As obtuse as it might seem, I believe platform moderation can be the tool required to allow freedom of speech.
This is the same Twitter that banned @realDonaldTrump but is fine with the Taliban official account
It might be uncomfortable for western ears but the Taliban having a fundamentally different ideology to us is something we might have to hear. In fact, need to hear. The murky waters of if or when a faith is lying because their belief structure is based on (to my mind at least) fairy tails and the teaching of non existent gods - that's a tough one.