Elon makes all-cash offer to take Twitter private

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texagbeliever
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In reply to will25u • 2:16p, 4/19/22
will25u said:


Oops meant to quote the tweet by elon on 10% left and right.
What i have been telling people past couple days; Elon owns the middle. It is hard to fight against a centrist position. The left is way too weak to risk alienating the moderates and young crowd while the right is fighting the CRT and grooming battle that will keep the Bible far right happy.
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Definitely Not A Cop
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In reply to aggiehawg • 2:24p, 4/19/22
AG
aggiehawg said:
Quote:
The problem for the Board members is that they could find themselves in court if their anti-free speech stance continues to stand in the way of shareholder profits. Such a lawsuit could be a bellwether for shareholder opposition to boards pursuing Environmental, Social, and Governance (ESG) policies over profits.

The Board responded to the Musk offer with what sounded like a suicide pact to swallow a "poison pill" to sell new shares to drive down share values. While a standard tactic to fend off hostile takeovers, Twitter made it clear that it would not be forced into free speech after making the company synonymous with censorship.

They were joined by liberal commentators who declared that it was not just Twitter but democracy itself that could fall if free speech were allowed to breakout. The Washington Post's Max Boot declared that "for democracy to survive, we need more content moderation, not less."
Quote:
Twitter CEO Parag Agrawal has maintained that he wants to steer the company beyond free speech and that the issue is not who can speak but "who can be heard." The question, however, is whether shareholders will be heard by a Board that has decided to make censorship (or "content modification") a critical goal of the company.

As I discussed earlier, boards are legally obligated to act in the best interest of shareholders. That fiduciary duty has long been ignored as Twitter undermined its own product by writing off conservatives through openly biased censorship. The managers and employees seem to view the company as a vehicle of their anti-free speech values despite artificially driving down users who have either been banned or deterred by its intolerance for dissenting views.
Quote:
This fight is coming at a time when many academics are questioning the traditional view that boards and management should be committed to the overriding purpose of maximizing value for shareholders." Rather they argue that corporate figures should focus on advancing Environmental, Social, and Governance (ESG) principles.

The result can be aligning corporate identity with controversial political positions like Disney's recent opposition to the Florida's parental rights bill on education, a move that has led to boycotts and possible retaliatory legislation. Such political agendas come at a cost and some shareholders may allege that they are being asked to effectively bankroll the social or political agenda of corporate officials.
Quote:
ESG policies have already led to litigation, including shareholder demands for greater transparency or ESG commitment from companies. Conversely, shareholders could argue that the political views of corporate officers are being pursued over the profits of the company.

Such lawsuits on both sides can be difficult. Shareholders may allege a breach of the "duty of loyalty," but must show that the officials acted in a self-interested manner or in bad faith. Alternatively, they could argue a breach of the "duty of care," which requires a showing that the officials acted in a grossly negligent manner.

Twitter may be getting precariously close to such a breach if Musk improves his offer as the Board continues to pass around the poison pills.
Quote:
The tweets make it sound like Twitter employees are the modern equivalent of the defenders of Masada, the Jewish fighters who chose mass suicide over capture by the Romans in 73 C.E. Of course, shareholders may not be as eager to embrace financial suicide. Moreover, when it comes to free speech, Twitter is the encircling hostile army. This is like the Roman army threatening suicide.

That is why this fight could prove so important. Twitter's CEO and Board decided a long time ago to pursue woke policies over profits. They are selling censorship to a public that wants more free speech. They are not alone. Facebook is actually running commercials trying to convince people to embrace censorship as a new generation that wants their views modified by corporate guardians.
Jonathan Turley.

Link


Does Max Boot realize that the USA is not a democracy? One would think a political commentator would have a basic understanding of his nation's government if he is being paid to write about it.
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will25u
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5:05p, 4/19/22
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sharpdressedman
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12:54a, 4/20/22
Today is the day EM stands tall or walks.
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D-Fens
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1:35a, 4/20/22
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nortex97
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In reply to sharpdressedman • 5:48a, 4/20/22
AG
sharpdressedman said:
Today is the day EM stands tall or walks.
I don't think today is the day. I think the tender offer will be made, per this report, within 10 days though. Likely by the end of next week.
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will25u
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8:48a, 4/20/22
Tender is the Night.

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fasthorse05
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In reply to will25u • 8:56a, 4/20/22
will25u said:
Didn't Elon give them until 4/20 when he said he was rescinding his offer?
From the Dems/Leftist/Progressive/Borg POV, they know Musk picked 4/20 because it's Hitler's birthday, and all conservatives will celebrate!
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ravingfans
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In reply to Definitely Not A Cop • 10:43a, 4/20/22
AG
Definitely Not A Cop said:
aggiehawg said:
Quote:
The problem for the Board members is that they could find themselves in court if their anti-free speech stance continues to stand in the way of shareholder profits. Such a lawsuit could be a bellwether for shareholder opposition to boards pursuing Environmental, Social, and Governance (ESG) policies over profits.

The Board responded to the Musk offer with what sounded like a suicide pact to swallow a "poison pill" to sell new shares to drive down share values. While a standard tactic to fend off hostile takeovers, Twitter made it clear that it would not be forced into free speech after making the company synonymous with censorship.

They were joined by liberal commentators who declared that it was not just Twitter but democracy itself that could fall if free speech were allowed to breakout. The Washington Post's Max Boot declared that "for democracy to survive, we need more content moderation, not less."
Quote:
Twitter CEO Parag Agrawal has maintained that he wants to steer the company beyond free speech and that the issue is not who can speak but "who can be heard." The question, however, is whether shareholders will be heard by a Board that has decided to make censorship (or "content modification") a critical goal of the company.

As I discussed earlier, boards are legally obligated to act in the best interest of shareholders. That fiduciary duty has long been ignored as Twitter undermined its own product by writing off conservatives through openly biased censorship. The managers and employees seem to view the company as a vehicle of their anti-free speech values despite artificially driving down users who have either been banned or deterred by its intolerance for dissenting views.
Quote:
This fight is coming at a time when many academics are questioning the traditional view that boards and management should be committed to the overriding purpose of maximizing value for shareholders." Rather they argue that corporate figures should focus on advancing Environmental, Social, and Governance (ESG) principles.

The result can be aligning corporate identity with controversial political positions like Disney's recent opposition to the Florida's parental rights bill on education, a move that has led to boycotts and possible retaliatory legislation. Such political agendas come at a cost and some shareholders may allege that they are being asked to effectively bankroll the social or political agenda of corporate officials.
Quote:
ESG policies have already led to litigation, including shareholder demands for greater transparency or ESG commitment from companies. Conversely, shareholders could argue that the political views of corporate officers are being pursued over the profits of the company.

Such lawsuits on both sides can be difficult. Shareholders may allege a breach of the "duty of loyalty," but must show that the officials acted in a self-interested manner or in bad faith. Alternatively, they could argue a breach of the "duty of care," which requires a showing that the officials acted in a grossly negligent manner.

Twitter may be getting precariously close to such a breach if Musk improves his offer as the Board continues to pass around the poison pills.
Quote:
The tweets make it sound like Twitter employees are the modern equivalent of the defenders of Masada, the Jewish fighters who chose mass suicide over capture by the Romans in 73 C.E. Of course, shareholders may not be as eager to embrace financial suicide. Moreover, when it comes to free speech, Twitter is the encircling hostile army. This is like the Roman army threatening suicide.

That is why this fight could prove so important. Twitter's CEO and Board decided a long time ago to pursue woke policies over profits. They are selling censorship to a public that wants more free speech. They are not alone. Facebook is actually running commercials trying to convince people to embrace censorship as a new generation that wants their views modified by corporate guardians.
Jonathan Turley.

Link


Does Max Boot realize that the USA is not a democracy? One would think a political commentator would have a basic understanding of his nation's government if he is being paid to write about it.


The libs have brainwashed his thinking...
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fasthorse05
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In reply to ravingfans • 10:55a, 4/20/22
With respect, there's only one way a conservative would ever consider changing sides, and it has nothing to do with brain washing: see Mika Brezinski (Joe Scarborough).

I'm not saying it always happens, but it's the number one weak spot for men---so to speak.

So maybe Boot it seeing the world from a more feminine point of view!!

Okay, maybe that is brain washing.
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Showertime at the Bidens
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In reply to fasthorse05 • 11:02a, 4/20/22
fasthorse05 said:
With respect, there's only one way a conservative would ever consider changing sides, and it has nothing to do with brain washing: see Mika Brezinski (Joe Scarborough).

I'm not saying it always happens, but it's the number one weak spot for men---so to speak.

So maybe Boot it seeing the world from a more feminine point of view!!

Okay, maybe that is brain washing.



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richardag
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In reply to aggiehawg • 11:30a, 4/20/22
aggiehawg said:
Quote:
The problem . . . .
Jonathan Turley.

Link
I like Turley's line,"whether the company can be forced into greater profits even if it comes at the "horrifying" cost of allowing free speech."

Sums up the idiocy and elitist BS spewed by the Board and the leftist progressives. I like that Turlrey advocates for civil liberties.
edit to save space and now spelling
Among the latter, under pretence of governing they have divided their nations into two classes, wolves and sheep.”
Thomas Jefferson, Letter to Edward Carrington, January 16, 1787
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aggiehawg
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12:05p, 4/20/22
AG
Wait, what?

Quote:
Tesla CEO Elon Musk is willing to invest up to $15 billion of his own cash to take Twitter private and will make a bid within 10 days, according to Tuesday reports.

The New York Post reported Tuesday that Musk, with a 9.1% stake in the social media company, has tapped Morgan Stanley to help raise an additional $10 billion.
Thought Morgan Stanley was Twitter's BOD consultant.

Quote:
Musk's massive $43 billion bid to purchase the company or $54.20 per share may require borrowing against both the company and his stock in addition to raising money from private equity investors, The Post reported, citing two sources close to the situation.

The estimated $10 to $15 billion Musk is reportedly willing to invest is well above his roughly $3.4 billion stake in the company.

The sources told The Post that the co-investors will collectively have more equity in Twitter, but Musk will remain the single largest shareholder.
From an all cash deal to a LBO? Using Twitter assets?

Quote:
The co-investors will reportedly finance a hostile tender directly to Twitter shareholders, which happens when an outside investor's ambitions to take over another company do not have management's approval or blessing.

Musk will launch the tender officer within roughly 10 days, according to The Post. It remains to be seen how successful Musk will be in raising the necessary cash, as his propensity for controversy has turned off some investors.
Link
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FrioAg 00
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12:31p, 4/20/22
AG
Most people are focused on the politics of all this, but make no mistake about it - this is pure capitalism.

If Musk and his co-investors take over they can do two things: depoliticize Twitter policies (going to free speech for all) and start charging fees or introducing new advertising revenue steams.

They can unlock enormous financial value and then take it public again.
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BMX Bandit
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In reply to FrioAg 00 • 12:34p, 4/20/22
Quote:
this is pure capitalism.
I disagree. its about making money, but more about making a point. Musk obviously would be happy making money on the deal, but I don't think he cares if he does or not

on a separate note, I think the minute twitter starts charging, thats when its road to being irrelevant starts
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valvemonkey91
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In reply to BMX Bandit • 1:29p, 4/20/22
AG
BMX Bandit said:
Quote:
this is pure capitalism.
I disagree. its about making money, but more about making a point. Musk obviously would be happy making money on the deal, but I don't think he cares if he does or not

on a separate note, I think the minute twitter starts charging, thats when its road to being irrelevant starts


This! No one is going to pay to be on Twitter.
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black_ice
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In reply to BMX Bandit • 1:31p, 4/20/22
BMX Bandit said:
Quote:
this is pure capitalism.
I disagree. its about making money, but more about making a point. Musk obviously would be happy making money on the deal, but I don't think he cares if he does or not

on a separate note, I think the minute twitter starts charging, thats when its road to being irrelevant starts



This is the correct view.
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fasthorse05
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In reply to FrioAg 00 • 1:35p, 4/20/22
FrioAg 00 said:
Most people are focused on the politics of all this, but make no mistake about it - this is pure capitalism.

If Musk and his co-investors take over they can do two things: depoliticize Twitter policies (going to free speech for all) and start charging fees or introducing new advertising revenue steams.

They can unlock enormous financial value and then take it public again.
I wonder if those two *******s (Fink and O'Hanley) who run Blackrock and State Street would buy as much Twitter stock as they did previously>
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YouBet
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In reply to BMX Bandit • 1:35p, 4/20/22
AG
BMX Bandit said:
Quote:
this is pure capitalism.
I disagree. its about making money, but more about making a point. Musk obviously would be happy making money on the deal, but I don't think he cares if he does or not

on a separate note, I think the minute twitter starts charging, thats when its road to being irrelevant starts
Depends on what we are talking about. Personal usage fees? Yeah, that's probably a deal killer for most.

They do get fees from ads and lead generation companies pay, but it's clearly not enough.
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cecil77
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In reply to BMX Bandit • 1:40p, 4/20/22
AG
BMX Bandit said:
Quote:
this is pure capitalism.
I disagree. its about making money, but more about making a point. Musk obviously would be happy making money on the deal, but I don't think he cares if he does or not

on a separate note, I think the minute twitter starts charging, thats when its road to being irrelevant starts

Pure capitalism is always about money. Sure he's making a point, but it's a profitable point.

FB seems to have a large revenue stream w/out charging. Twitter certainly is leaving revenue on the table.
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chase128
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In reply to valvemonkey91 • 1:40p, 4/20/22
AG
valvemonkey91 said:
BMX Bandit said:
Quote:
this is pure capitalism.
I disagree. its about making money, but more about making a point. Musk obviously would be happy making money on the deal, but I don't think he cares if he does or not

on a separate note, I think the minute twitter starts charging, thats when its road to being irrelevant starts


This! No one is going to pay to be on Twitter.
One of the problems with Twitter is the bot spam. Adding a paywall of some sort is one way to try and tackle those bots. I'm not advocating for it, but I'm just saying it's one way some people think could reduce the bots.
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Swollen Thumb
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In reply to chase128 • 1:47p, 4/20/22
AG
chase128 said:
valvemonkey91 said:
BMX Bandit said:
Quote:
this is pure capitalism.
I disagree. its about making money, but more about making a point. Musk obviously would be happy making money on the deal, but I don't think he cares if he does or not

on a separate note, I think the minute twitter starts charging, thats when its road to being irrelevant starts


This! No one is going to pay to be on Twitter.
One of the problems with Twitter is the bot spam. Adding a paywall of some sort is one way to try and tackle those bots. I'm not advocating for it, but I'm just saying it's one way some people think could reduce the bots.
Glad you mentioned that because that is what my first thought was. Charge a one-time "account activiation" fee of say $5. Then free to use. Seems that would cut down dramatically on bot and burner accounts and clean things up. I wouldn't think $5 would be prohibitive to 99% of users, and it would likely improve the user experience and concerns about russian bot misinformation.
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richardag
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1:55p, 4/20/22
I am not very knowledgeable about Twitter, Facebook, YouTube, etc.

Seems YouTube hosts most of the videos linked on Twitter. Would it be possible for Twitter to capture some revenue by hosting videos themselves?

Pardon my ignorance
Among the latter, under pretence of governing they have divided their nations into two classes, wolves and sheep.”
Thomas Jefferson, Letter to Edward Carrington, January 16, 1787
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Premium
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2:09p, 4/20/22
AG
I don't do twitter, so maybe they do this… but why don't they copy the Facebook model of alternating between advertisements and tweets as you scroll down the page of comments? Make advertisers pay more if the account is really popular…. Then share some revenue with the popular user to get them to post more.
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rgag12
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In reply to Premium • 2:11p, 4/20/22
AG
They do have paid advertisement tweets pop up in your feed as you scroll.
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techno-ag
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In reply to Swollen Thumb • 2:26p, 4/20/22
AG
Swollen Thumb said:
chase128 said:
valvemonkey91 said:
BMX Bandit said:
Quote:
this is pure capitalism.
I disagree. its about making money, but more about making a point. Musk obviously would be happy making money on the deal, but I don't think he cares if he does or not

on a separate note, I think the minute twitter starts charging, thats when its road to being irrelevant starts


This! No one is going to pay to be on Twitter.
One of the problems with Twitter is the bot spam. Adding a paywall of some sort is one way to try and tackle those bots. I'm not advocating for it, but I'm just saying it's one way some people think could reduce the bots.
Glad you mentioned that because that is what my first thought was. Charge a one-time "account activiation" fee of say $5. Then free to use. Seems that would cut down dramatically on bot and burner accounts and clean things up. I wouldn't think $5 would be prohibitive to 99% of users, and it would likely improve the user experience and concerns about russian bot misinformation.
$5/mo for blue check. Pay $50 upfront for an additional discount.
Trump will fix it.
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fullback44
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In reply to texagbeliever • 2:33p, 4/20/22
AG
texagbeliever said:
will25u said:


Oops meant to quote the tweet by elon on 10% left and right.
What i have been telling people past couple days; Elon owns the middle. It is hard to fight against a centrist position. The left is way too weak to risk alienating the moderates and young crowd while the right is fighting the CRT and grooming battle that will keep the Bible far right happy.
F the Germans... I honestly think they are behind most of this leftist extremism / limiting speech stuff, someone from that country is behind alot of all of this, probably Soros also. but Germans are shady with all thats going on these days including being in bed with the Russians who are now killing innocent women and children... cant believe they arent doing more to stop the Russians... Russia owns their supply line to all their energy, Trump warned them from getting too deep in bed with the Russians and guess what, he was 200 % right.

sorry for the Rant but screw Hitler
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BusterAg
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In reply to BMX Bandit • 3:04p, 4/20/22
AG
BMX Bandit said:
Quote:
this is pure capitalism.
I disagree. its about making money, but more about making a point. Musk obviously would be happy making money on the deal, but I don't think he cares if he does or not

on a separate note, I think the minute twitter starts charging, thats when its road to being irrelevant starts
They don't need to charge a user fee, they can make money through 3rd party monetization.

Two things that Twitter really lacks:

1) A way for users to monetize their base of followers. There should be some way for people to do that, and Twitter should be able to shave some of those fees. Make Twitter competitive with YouTube, Twitch, etc. Click-throughs or sponsored Tweets. Twitter has that to some extent, but it sucks.

2) Better targeting of tweets. You can't say "I want to Tweet to everyone that has tweeted a picture of a pickup in the last 2 weeks, and used the words "Ford" and "Sale". Twitter gets to pick where your paid for Tweets go. That sucks.

Clean up these two, and you can make money.

In short, don't charge your users a fee. Charge a fee to access your users.
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D-Fens
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In reply to valvemonkey91 • 6:26p, 4/20/22
valvemonkey91 said:
BMX Bandit said:
Quote:
this is pure capitalism.
I disagree. its about making money, but more about making a point. Musk obviously would be happy making money on the deal, but I don't think he cares if he does or not

on a separate note, I think the minute twitter starts charging, thats when its road to being irrelevant starts


This! No one is going to pay to be on Twitter.


I think there are A LOT of content providers that could charge a subscription fee, with TWTR taking a cut. Also, a low annual fee is prob worth eliminating ads.

Users who don't pay get ads and free content.
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nortex97
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8:36a, 4/21/22
AG
So, let the next round of fist shaking at clouds and meltdowns on the left begin. Do we need a fresh thread for his tender offer negotiations?

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nortex97
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8:47a, 4/21/22
AG


Sounds like he has the money lined up. This could be another entertaining day of coverage.
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TyHolden
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8:57a, 4/21/22
AG
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No Spin Ag
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In reply to nortex97 • 9:03a, 4/21/22
nortex97 said:


Sounds like he has the money lined up. This could be another entertaining day of coverage.


He's going to make a lot of people extremely richer than they already are when this goes through.
There are in fact two things, science and opinion; the former begets knowledge, the later ignorance. Hippocrates
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will25u
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9:14a, 4/21/22
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Sea Speed
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9:25a, 4/21/22
AG
Imagine having nuts so big you can drop nearly 20 BILLION to prove a point. JFC.
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