Current Events > Breaking News
Musk Says 'Enough Is Enough'. Buys 9% Of Twitter
Ptarmigan:
Woke Twitter Elitists Are Too Stupid To Realize Elon Musk Is Saving The Platform
https://alt-market.us/woke-twitter-elitists-are-too-stupid-to-realize-elon-musk-is-saving-the-platform/
--- Quote ---In the past year Big Tech and Big Media are learning a valuable lesson – That “Get Woke, Go Broke” is not just a mantra, it’s a rule. We’ve just seen companies like Netflix take a massive market beating because of their hubris and their presumption that they can simply dictate the path of our culture from on high through leftist propaganda. CNN just shut down their premium “+” service after a single month because no one trusts them enough to pay them pocket change for content. And Disney is about to lose their municipal charter in Florida because they thought they were in charge of the state and its laws, when in fact they are not.
Woke corporations are slowly but surely dying and leftists don’t seem to grasp the situation. They’ll never admit openly that the reason these companies are seeing declines is because of their cult-like political stance that justifies the forced indoctrination of everyone, including children. They’ll say it was covid, they’ll say it was inflation, they’ll say it was bigotry, but in reality it was always them. No one likes them, and people are finally realizing they don’t have to spend money buying products from insane leftists they don’t like.
In this regard Twitter is a bit of an enigma. The social media company has gone from a relatively innocuous space for people to market online businesses and for politicians and celebrities to engage with their followers or detractors, to a vicious battleground overrun with leftist zealots hellbent on using the platform as a weapon to silence dissent and destroy the lives of people that disagree with them. The platform went from average social media outlet to becoming a birthplace for evil behavior. If I was to describe what Twitter really stands for today, I would say it is an attempt to build a global hive mind; a place where everyone is coerced into conformity with establishment ideals through peer pressure and mob aggression.
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Twitter is a money pit.
--- Quote ---Why do major globalist institutions have so much interest in Twitter? It’s not because Twitter is a money maker. In 2020 the company suffered a net income loss of over $1.14 billion. In 2021 there was an income loss of $221 million. Twitter still claims it earns a profit, but this is primarily derived from stock buybacks and state and federal government subsidies, meaning, without overnight loans from the Federal Reserve and tax breaks from government Twitter simply would not exist.
Twitter is carrying a debt load of around $6.75 billion in total liabilities according to the Wall Street Journal, which might not seem like much in comparison with many other companies but again, Twitter is not a money maker so any sizeable debt is a problem. They suffered dismal stock performance until the pandemic which led to trillions in stimulus dollars flooding into equities markets. Now that the covid checks have dried up, the company’s stock has spiraled down yet again. The only thing propping it up today is the sudden prospect of an Elon Musk buyout.
Twitter was bleeding users and was dealing with a declining membership base leading up to 2019, when the company decided they would fix the problem by NOT REPORTING traditional user numbers anymore. They shifted to a new metric which they claimed was designed to discount the removal of “spam and bot accounts.” One has to wonder how much of Twitter’s actual user base is made of real people rather than fake accounts? Even with the new metrics, evidence suggests they have continued to lose users and revenues since 2019, largely due to the hostile political witch hunt environment that Twitter has developed in the past few years.
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Drafe Hoblin:
Musk is set to troll Twitter all weekend.
Twitter seems to think there is such a thing called a 'climate-change denial ad'.
Ptarmigan:
BREAKING: Elon Musk's lawyers send letter to Twitter threatening to terminate deal over inflated user data
https://thepostmillennial.com/breaking-elon-musks-lawyers-send-letter-to-twitter-threatening-to-terminate-deal-over-inflated-user-data
--- Quote ---Elon Musk has accused Twitter of "resisting and thwarting" his inquiries about how many fake, or bot accounts are currently on the Twitter platform. Musk has been trying to get this information since his acquisition process for the platform began.
Musk has reportedly called Twitter's unwillingness to provide the information a "clear material breach" to the terms of the agreement that is still under negotiation. As a result, Musk is reserving his right to not complete the transaction.
In the letter to Twitter Chief Legal Officer Vijaya Gadde, Skadden attorney Mike Ringler for Musk said that "Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement," according to CNBC.
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Could Elon Musk let the deal fall through due to too many users?
Eupher:
Lots of conjecture on the interwebs about how this entire Musk/Twitter thing was a stunt to begin with.
Not to suggest it couldn't happen, but since Twitter is giving Musk the runaround, it's rumored he expected that (regarding the fake accounts and bot data) and just wanted to rattle Twitter's cages. Presumably the stockholders would be pissed and wind up firing the asshats that Musk would've fired anyway.
Win, win and he gets to keep his $44 billion.
:shucks:
Ptarmigan:
Twitter Whistleblower Reveals Company Hid "Extreme, Egregious, Deficiencies"; Musk Subpoenas Dorsey & Ex-Security Chief
https://www.zerohedge.com/markets/twitter-shares-drop-after-ex-security-head-reveals-company-hid-extreme-egregious
--- Quote ---Update (0945ET): Twitter CEO Parag Agrawal has sent a message to staff this morning about WaPo's whistleblower story, according to CNN's Donnie O'Sullivan.
Agrawal's message to staff reads:
Team,
There are news reports outlining claims about Twitter's privacy, security, and data protection practices that were made by Mudge Zatko, a former Twitter executive who was terminated in January 2022 for ineffective leadership and poor performance. We are reviewing the redacted claims that have been published, but what we've seen so far is a false narrative that is riddled with inconsistencies and inaccuracies, and presented without important context.
I know this is frustrating and confusing to read, given Mudge was accountable for many aspects of this work that he is now inaccurately portraying more than six months after his termination. But none of this takes away from the important work you have done and continue to do to safeguard the privacy and security of our customers and their data. This year alone, we have meaningfully accelerated our progress through increased focus and incredible leadership from Lea Kissner, Damien Kieran, and Nick Caldwell. This work continues to be an important priority for us, and if you want to read more about our approach, you can find a summary here.
Given the spotlight on Twitter at the moment, we can assume that we will continue to see more headlines in the coming days — this will only make our work harder. I know that all of you take a lot of pride in the work we do together and in the values that guide us. We will pursue all paths to defend our integrity as a company and set the record straight.
See you all at «OneTeam tomorrow,
Parag
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This could get interesting.
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