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Musk communicates to Twitter employees that ‘bankruptcy is not out of the question’
Yahoo Finance tech editor Dan Howley details Elon Musk's latest address to Twitter employees, stating the possibility of bankruptcy amid corporate restructuring and executive shuffling.
Is he trying to outdo FTX in the competition on who can devalue a company most in one day?
spent 44 billion for a company and two weeks later it's already almost dead
He saw that Crypto guy lose 14 billion overnight and said, "hold my beer".
Musk Warns Twitter Bankruptcy Possible If Cash Burn Doesn’t Stop
People on the left wing knew twitter was ideologically slanted left and was beneficial to their cause. Now its in someones hand who's stated intention is to move it to the center, they are trying their best to sabotage it buy attacking its advertisers. Within a few days of the purchase you have advertisers citing hate speech as a reason for pausing ads when in fact hardly anything has changed in the last few days.
We have wipers of threats of FBI and DOJ investigations into Musk and his companies because of this purchase. The fear is that twitter could be used to influence culture and influence elections in the short term.
I was made aware that many news media outlets focus on Tesla accidents (of which they are very few) because Tesla does buy advertising from them. Its still one of the safest cars ever built.
I don't need to be defending Elon, but I hop the twitter situation works out.
Bankruptcy doesn't really mean that Twitter will end its life. This is just one way to relaunch Twitter with a new business paradigm.
Ironically, elon musk himself sabotaged twitter with his leveraged buyout. He is the sole reason for the new 13 billion debt (and annual 1 billion debt interest) which twitter has to take on.
Twitter is in such dire straits because of the way leveraged buyouts work. Losing some ad revenue (due to whatever reasons) has minimal impact on twitter compared to the new debt thanks to elon musk.
Actually this feels very appropriate for Elon's recent actions:
Yep: due to the structure of this particular leveraged buyout, debt servicing for it is responsible for 75% or more of the “over $4,000,000 per day” Elon has stated Twitter is losing. It was already losing money, but now it is losing it much faster. This isn't entirely Elon's fault as interest rate rises since the plan was formed make a significant difference, but even if those rate increases had not happened the situation would still be pretty similar and it isn't like many were not warning of rate rises back when he was putting the plan together.
So, the left is using the right's strategy and the right doesn't like it? Remember that Elon's interest sprung partly from Twitter moving left once Trump was out of power (they didn't have the balls to do much about him and his ilk while he was in as position to be able to hurt them, so they can't take credit for kicking him off as a truly moral or rules based thing).
Also, the left as I see it has never been where Twitter really sat. Remember that what the US calls “left” is often what a lot of the rest of the world calls centrist, or sometimes even centre-right.
The paid blue verification check mark is a mistake imo. They should've done a paid tier with different check mark color. People are literally paying $8 to impersonate organizations / people which from a corporate perspective, is brand damaging. Twitter was the only place where you feel like you can actually talk to someone that is of importance and maybe even get a response. A lot that was facilitated by the blue check mark. Now that you can pay for it, the entire dynamic of twitter changes. In the short term, it's chaos. In the long term, who knows. Twitter will probably try to monetize everything because it's necessary for them to be less dependent on advertising.
A good test for me if you are right or left wing is if you can define what is a woman. At least on social issues.
If you use a recursive definition then you are left wing.:
A woman is anyone who identifies as a woman.
If you use the accepted definition then you are center or right wing:
Adult human female.
Do you have stats on that? The repeated stat is "n word use went up 500%" and directly supports the advertisers argument. Where is your argument evidence that hardly anything changed?
I'd forgotten about the rate change. I wonder when the financing was secured?
The banks to syndicated this deal are still holding the paper, which is very unusual. They want their fees but definitely don't want to hold this kind of debt on their books. Reportedly, best offers are in the neighborhood of 60 cents on the dollar.
Here's an interesting breakdown:
Price with closing costs: $46.5bn
Morgan Stanley, Bank of America, and others: $13bn
Musk's pre-acquisition 9.6% stake in Twitter: $4bn
Larry Elison (of Oracle!) and Saudi Prince Alwaleed bin Talal: $7.1bn
Cash from selling Tesla stock (from last November to presnet): $20bn
There's a couple billion missing but there have been smaller partners or other Tesla sales not yet reported. Maybe Twitter had cash on hand pre-acquisition...I'm lazy.
So it's a $13bn bill. In February, Twitter placed $1bn at 8%.
The debt is made up of "$6.5 billion in leveraged loans, $3 billion in secured bonds, and another $3 billion in unsecured bonds." No idea what terms are but leveraged loans have high interest rates.
In terms of bankruptcy, there's $3bn secured by something...Twitter assets? Musk assets?
Musk has fewer assets to pledge these days: the value of Musks' existing stake in Tesla has been halved this year due to the decline in TSLA's stock price.
Do you have stats on that? Stats on how many advertisers paused their ad spend?
He didn't give a number.
Also evidence suggests that bad actors are trying to test the limits on @Twitter. Source:
The rules are still in place. The children are testing the new teacher in charge.
He never said absolute free speech. He said it would be similar to what is allowed by the law and not much farther. That part people seem not to understand.
And by the way @TimboJones what is a woman?
@trycatchthis Why do you keep blaming politics, activists and media outlets? You really believe this "massive drop in revenue" claimed by elon musk is greater than the debts created by the man himself?
From your previous comments it seems you have preconceived notions that twitter is left-biased.
But according to twitter's internal research, they found that twitter is right-biased.
So what/who will you blame now? Anything but the man who doomed twitter, I'm sure.
All you have to do is look at twitters staff political donations to see its left biased.
REVEALED: Facebook and Twitter employees have given $2.7million to Democrats in 2020 - ten times the amount they have donated to Republicans - as big tech faces more accusations of political bias
I rarely engage in the political discussions on LowEndTalk, but it appears that people are overlooking the fact that both Twitter and Facebook are located in a part of California where there is a significant Democrat majority. It seems natural that the people who live in that area would donate to Democrats more than Republicans, whether they work for Twitter, Facebook, or another nearby company. If you were to choose a random company headquartered in Cheyenne, Wyoming, for example, I would not be surprised to learn that most of their employees donate to the Republican party, based on the population demographics of the region. The political donation ratio may not be indicative of anything unusual or abnormal regarding Facebook or Twitter. Sometimes a cigar is just a cigar.
twitter is an us company. you wrote it's beneficial to "their cause" aka the bad leftist dems would control twitter. and now with musk owning twitter, who is pro republicans, you do like twitter is going to be more central. there are only 2 political parties in the us, dems who are left wing or central and reps. the reps are these days clearly nazi level right wing, who talk about stuff like satanistic child trafficing, conpiracys, masterraces, anti abortion, anti vax, anti gender, anti lgbtq. and now look at the links i posted, which political party has the most predators? which political party is FULL of incels and which political party likes putins cock the most?
your "cental" twitter will shift more to an propaganda platform for russia and the scum of the internet. but that's ok for you, as long as those bad dems don't do something satanistic like free healthcare or tax the billionairs
If you want to discuss Twitter, this is the place.
If you want to debate politics and post 36 freaking links in one post to Daily Kos, this is not the place.
Cleaned up the thread.
I don't think musk is necessarily pro republican. He seems to be more classically liberal. A swing voter that has mostly voted democrat is what he appears to be.
You say the republicans embrace Nazis, well some do. But some of the democrats embrace communists. A Nazi wouldn't find a home on twitter but a communist would.
He certainly very distinctly hinted directly at that.
So less free speech than during Trump's term & before, when many things that would be against anti-hate/bullying laws seemed to be let slip (there seemed to be a swing away from that in 2021) if you were high-profile enough?
I heard free speech not too far from the limits of the lat. You heard absolute free speech. Do you have a source? If you want me give a source I can give one.
The fear is actually the opposite, which is the reason it's making such a ruckus. Twitter is very well known to be suppressing any but left wing voices before Musk acquirement, and Musk has been very outspoken how all voices should be equally heard, as in free speech.
So what you're saying is that the fear is that twitter will not be used to influence culture and elections?
tl;dr Twitter is not left-biased. Stop stating that as fact.
The ruckus is because previously twitter was such a good tool to interfere with democracy.
LOL! Seriously, censoring anything that could hurt a democrat (Hunter Biden laptop story for example) AND finding any reason to ban all republican type of voices -- nope that's not bias at all nor interfering (negatively) with Democracy. Sure thing, perhaps Biden should be banned from Twitter too?
Also, I don't really feel strongly for either side. I would just rather believe in big data than isolated incidents when you try to paint a narrative. If twitter is so left-biased, where's the evidence? Surely some skeptics in academia would have published their research/findings by now.
Great tactic, try to disvalidate every piece of data contrary to your own beliefs, sprinkle in a few claims of not caring, and make your point with fallacy to authority etc.
How about bans of Jordan Peterson, Alex Jones as well, to name just a few well known examples.
How about "fact checking" anything contrary to the leftie, woke agenda if not outright banning, while allowing the lefties, woke agenda etc. to be as extreme as possible. Certainly beheadings in the name of Allah are good, but quoting the christian bible is bad.
These examples are so vast and numerous that anyone who cares about free speech, truly cares about it, not the leftie version of "everyone must agree with what i say, and free speech is flourishing. But as soon as you do not agree you shall be banned and shamed!"
Media in general is biased AF.
One funny example of this bias was that Biden got fact checked on Twitter, a journalist screenshotted this and posted on facebook, meanwhile the tweet got deleted from @POTUS (which i hear is potentially illegal), and facebook fact checked the journalist as if it was false narrative.
This is rampant AF, and if you have not noticed this, there is 2 likely potential explanations: 1) You do not use any social media, or media in general at all (but you are here, so this cannot be true) 2) You agree with "The Message" and are part of the problem.
Media might be "biaised AF". You appears to be "biaised AF" as well. The vision you describe here has little link with reality.