Twitter agrees to be acquired “by an entity wholly owned by Elon Musk” for $54.20 per share in cash; the ~$44B deal requires shareholder and regulatory approval

- Twitter's board accepted billionaire Elon Musk's offer to buy the social media company and take it private, the company confirmed.

CNBC 2022-04-26 Lauren Feiner

Discussion

@elonmusk Elon Musk on x
I hope that even my worst critics remain on Twitter, because that is what free speech means
@jeffbezos Jeff Bezos on x
Interesting question. Did the Chinese government just gain a bit of leverage over the town square? https://twitter.com/...
@elonmusk Elon Musk on x
🚀💫♥️ Yesss!!! ♥️💫🚀 https://twitter.com/...
@senwarren Elizabeth Warren on x
This deal is dangerous for our democracy. Billionaires like Elon Musk play by a different set of rules than everyone else, accumulating power for their own gain. We need a wealth tax and strong rules to hold Big Tech accountable.
@pekingmike @pekingmike on x
Apropos of something: -Tesla's second-biggest market in 2021 was China (after the US) -Chinese battery makers are major suppliers for Tesla's EVs. -After 2009, when China banned Twitter, the government there had almost no leverage over the platform -That may have just changed
@dwuff @dwuff on x
Older twitter users who have lived through geocities, web forums, livejournal, myspace, tumblr and twitter, finding out that it may be yet again time to change platforms https://twitter.com/...
@btaylor Bret Taylor on x
The Twitter Board has reached an agreement with @ElonMusk https://www.prnewswire.com/...
@downtown Downtown Josh Brown on x
Twitter does $3.5 billion a year in revenue, a business roughly the size of the Olive Garden. You have to admit today is hilarious.
@paraga Parag Agrawal on x
Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important. https://t.co/5iNTtJoEHf
@nicoleperlroth Nicole Perlr🌻th on x
I'm old enough to remember when Elon Musk ordered his private investigators to make a Tesla employee's life a living hell—including having the employee SWATTED—for tipping off a reporter to waste at a Tesla factory. The employee had to move his family to Hungary for safety. https…
@djrothkopf David Rothkopf on x
The richest guy on the 2021 Forbes 400 owns the Washington Post. Number 2 now owns Twitter. Number 3 owns Facebook. Numbers 5 and 6 started Google. Numbers 4 and 9 started Microsoft. Number 10 owns Bloomberg. Free speech? You decide.
@redletterdave Dave Smith on x
This exchange continues to haunt me https://t.co/W06oSqx0MR
@jamessurowiecki James Surowiecki on x
Musk is taking on $25 billion in debt financing to acquire Twitter, at an avg interest rate of between 4.5-5%. That means Twitter's going to have to pay $1.15-$1.3 billion a year in interest alone, which is more than it made before interest and taxes last year.
@oneunderscore__ Ben Collins on x
There are plenty of models for where this site is likely headed. I'm on those sites all day. I cover extremism and lies for a living. You're not gonna like it.
@gavinjohnadams Gavin John Adams on x
1. Hello 👋 Everyone 👋 Just an M&A lawyer here 👋 A small voice among blue tick “experts” I hate to spoil your premature congratulations. . . . . . @elonmusk has NOT just bought @twitter. The Twitter board has agreed to recommend his offer to the Twitter shareholders . . . 1/2
@jim_jordan Rep. Jim Jordan on x
Free speech is making a comeback. https://www.cnbc.com/...
@jeffbezos Jeff Bezos on x
My own answer to this question is probably not. The more likely outcome in this regard is complexity in China for Tesla, rather than censorship at Twitter.
@ronwyden Ron Wyden on x
If the U.S. had a privacy law with teeth, or if Twitter encrypted DMs like I urged years ago, Americans wouldn't be left wondering what today's sale means for their private information. The protection of Americans' privacy must be a condition of any sale.
@caraesten Cara on x
everyone at twitter suddenly having no access to half their paycheck due to RSUs no longer being liquid in the hottest job market in years will result in mass resignations of twitter employees even *before* you get into the ideological stuff
@pwnallthethings @pwnallthethings on x
Apropos of nothing in particular, but Twitter's failure to encrypt DMs and make them disappearing by default makes billionaire activist spacecoin bros who like attacking journos, rivals, and politicos buying the platform a lot more dangerous than it otherwise would be.
@rabois Keith Rabois on x
Now we just need to re-locate Twitter HQ to Miami....
@bluesky @bluesky on x
Given the surge of interest in Twitter's future, we thought this would be a good time to clarify the relationship between Bluesky and Twitter.
@asymmetricinfo Megan McArdle on x
The first thing to point out is that this deal makes no financial sense for Elon Musk. He's paying a premium for the stock, the total value of the acquisition is almost a fifth of his net worth, and there's no obvious way he's going to squeeze more money out of Twitter operations
@jeffbezos Jeff Bezos on x
But we'll see. Musk is extremely good at navigating this kind of complexity.
@chillmage @chillmage on x
the “free speech” platform that is important is just the internet. which is why net neutrality and connectivity have been so important all along. if these folks truly cared about free speech they would do everything in their power to make the internet faster, cheaper, universal
@thelincoln Lincoln Michel on x
No clue if Musk will make Twitter worse, but anyone who believes Musk cares about protecting speech please hmu I have some exciting bridges I'd like to sell you! https://twitter.com/...
@ethanz Ethan Zuckerman on x
Okay, like virtually everyone else who studies social media, I'm fascinated by @elonmusk's takeover of Twitter. Let me say upfront: I have no idea what Twitter will be like under Elon's leadership and neither do you. But that's the point.
@dougboneparth Douglas A. Boneparth on x
Sex is cool, but have you ever paid $44 billion for an edit button?
@firefox @firefox on x
We promise not to sell Firefox to a billionaire.
@hayskali Kali Hays on x
From Twitter all hands happening now, discussing Elon Musk takeover: Board chairman Brett Taylor just said, “The board no longer exists on the other end of this transaction”
@mmasnick Mike Masnick on x
So, one thing that hasn't received much attention and should: For all the talk about “free speech,” @twitter's legal team is actually one of the MOST aggressive in actually fighting in court to protect the free speech rights of its users, including their right to anonymity.
@sanasaeed Sana Saeed on x
Bezos owns the WashPo & the online goods market; Gates dominates public health research (focus on reproductive health & population growth control) and Musk now owns Twitter. These aren't simply private men doing private things, but the extension of American capital power.
@therealfitz Brian Fitzpatrick on x
You know what's *orders of magnitude* cheaper than buying a company that you're unhappy with? Therapy. That's it. That's the tweet.
@kantrowitz Alex Kantrowitz on x
Tesla's stock reacts https://twitter.com/...
@brendancarrfcc Brendan Carr on x
While I hope that @Twitter takes a turn towards free speech and away from political censorship, we can and must do more than hope. We should enact common sense, pro-speech reforms that prevent discrimination against core, protected speech.
@_claypot Clay on x
elon musk buying out twitter is a good reason to justify interest in a more diversified internet. everyone relying on the same 3-5 websites means one big acquisition upsets the balance of a decent chunk of the internet
@nikitabier @nikitabier on x
.@elonmusk Hire me to run Twitter as VP of Product. I've been building social apps for 11 years—and not in a way that leads products to decay like a typical BigTech “product director dad.” Twitter has the potential to be the leading messenger, groups app & content creation tool.
@caseynewton Casey Newton on x
The funny thing about the free-speech discourse on Twitter is that it never takes into account how the app has become one of the largest repositories of porn on the entire internet
@evan_greer Evan Greer on x
So exhausted by the Elon Musk news cycle but if you want my honest prediction it's that even if he succeeds in buying Twitter it won't make that much of a difference. He'll get a rude awakening about how content moderation actually works, get bored & move onto something else
@sarah_smarsh Sarah Smarsh on x
The question isn't so much whether Twitter was better prior to Musk's purchase. It's what we'll do with elevated awareness, prompted by his high-profile takeover, of this platform's ultimate value, utility or meaning in our lives today. You've thought about deleting it for years.
@xoanty @xoanty on x
Are you?! https://twitter.com/... https://twitter.com/...
@elipariser Eli Pariser on x
Now let's remember, this guy is so thin-skinned that when a man who saved the lives of kids trapped in a cave criticized his misguided attempts to help, Musk called him a pedophile: https://www.cnn.com/...
@hunterwalk @hunterwalk on x
1. Not a fan of Elon's online persona (or generally powerful tech ppl who shitpost as sport) 2. But his will to get things done is impressive 3. & companies that don't perform up to potential lose their right to control their own destiny (weird vibes from board/c-suite no?)
@phil_lewis_ Philip Lewis on x
Twitter Inc. has reportedly locked down changes to its social networking platform to keep employees who may be upset about the deal from “going rogue” and making unauthorized changes https://www.bloomberg.com/...
@mikedrucker Mike Drucker on x
If Elon Musk buys Twitter, I'm never signing in again until five minutes later when I'm bored and open the app without thinking
@sarahcpr Sarah Cooper on x
Welp. We had a good run folks. https://www.cnn.com/...
@sarahjeong Sarah Jeong on x
it's not nearly the funniest part of the list of things he intends on doing but “making the algorithms open source” and “defeating the spam bots” are goals that work against each other
@bocxtop @bocxtop on x
elon musk spending $43 billion to stop getting bullied on twitter when he could've simply been less annoying is insane
@noliewithbtc @noliewithbtc on x
Elon Musk told the United Nations he would give them $6 billion to end world hunger if they showed him a detailed plan of how they would use the money. They called his bluff and gave him their plan— and then they never got the money. Now he's buying Twitter for $45 billion.
@profsunnysingh Sunny Singh on x
Not (yet) going off twitter. Worth remembering some of us don't have the luxury of going silent, our free speech has ALWAYS been limited and threatened on and off this hellsite, and we function despite the daily violence baked into tech (and elsewhere)
@lesbiaudrey @lesbiaudrey on x
I make a the people forget about a my racial discrimination lawsuit!! That's amore!!
@icecube @icecube on x
Free at last! @elonmusk take off my shadow ban homie...
@jamesrbuk James Ball on x
Somewhat grim but: one of the biggest and constantly changing automated moderation challenges is banning images and videos of child abuse being transmitted. It's thousands per minute, on every network. The idea of turning off moderation and starting from scratch is a non-starter
@binarybits Timothy B. Lee on x
I think Elon Musk buying Twitter is like a normal billionaire buying a major-league sports franchise. The business may or may not make money, but the point is to be a famous patron in your favorite hobbyist community. https://twitter.com/...
@anthony Anthony DeRosa on x
$TWTR resumed trading at 3:15pm EST, it's at around $52 a share
@benshapiro Ben Shapiro on x
Cool, now do Disney https://twitter.com/...
@davidakaye David Kaye on x
of all the things i don't think elon understands is this: if everyone thinks he's the rulemaker, everyone will plead their case to him. he's the arbiter of speech. he'll hate it, and if that's what happens, he'll be hated for it, too.
@benfenton Ben Fenton on x
The sale of this platform to a single private individual with unknowable designs on it should remind us of the transatlantic difference between the value placed on private and public ownership of the media. We are the lucky ones.
@jamestitcomb James Titcomb on x
Not sure the economics of dropping ads and turning Twitter into a subscription service works: Twitter made $5.1bn in revenue last year. At 217m users that's $23.50 a user. Twitter Blue is $36 a year, so you'd need about 2/3 of users to pay for it
@blkgrlbrilliant @blkgrlbrilliant on x
send help. quickly https://twitter.com/...
@smilerz91 @smilerz91 on x
My strongest prediction conditional on Musk owning Twitter is that a lot of tech companies are going to get engineering talent at a discount. https://twitter.com/...
@ninaturner Nina Turner on x
Elon Musk, Jeff Bezos, nor Mark Zuckerberg should have this much wealth, power, and influence. Break up big tech. https://twitter.com/...
@brandonlbradfor Brandon Bradford on x
Your regular reminder that rich does not mean knowledgeable or particularly talented. https://twitter.com/...
@briannawu Brianna Wu on x
I'm not gonna tell you that I'm gonna quit Twitter. But at a certain point, I stopped posting to Facebook every day and did it one or twice a month. That's the future I see as Trust and Safety is dismantled. The thought of Twitter led by someone devoid of empathy is terrifying.
@evelyndouek @evelyndouek on x
Soon we may be wistfully remembering the good old days when Twitter was run by a different eccentric billionaire who ate only 7 meals a week & appeared to testify before Congress from his kitchen. But we can do better than such nostalgia. Wrote about it: https://www.theatlantic.c…
@emanuelmaiberg Emanuel Maiberg on x
the fact that powerful people in media killed my original headline, “Elon Musk Becomes King Shit of Turd Mountain,” is exactly why we need more free speech https://www.vice.com/...
@katearonoff Kate Aronoff on x
Elon Musk, free speech absolutist https://www.businessinsider.com/ ... https://twitter.com/...
@epro Emil Protalinski on x
How long before @elonmusk reinstates @jack as CEO? https://twitter.com/...
@jason_kint Jason Kint on x
For those of you panicking over Elon Musk controlling Twitter yet still actively using Facebook, Instagram or WhatsApp, please explain yourselves.
@alexweprin Alex Weprin on x
It's fitting that a fake Elon Musk account seems to be tricking a lot of Twitter power users today.
@danielyrubin Daniel Rubin on x
Elon Musk is obviously unhinged and the Twitter board is detached and clueless over what to do with the product. Those things we know. The question I have is, what the hell is Morgan Stanley thinking here
@kathygriffin Kathy Griffin on x
Think of the damage Zuckerberg has done. Musk is a Piers Morgan level media thirsty, vindictive, white supremacist who is looking to convince you he is an innovative disruptor.
@goldman Jason Goldman on x
It was an impossible situation says founder in control of company for last decade https://twitter.com/...
@thekidmero @thekidmero on x
ELON MUSK BOUGHT A HAIRLINE *AND* TWITTER THATS WILD
@mattrosoff Matt Rosoff on x
Members of Biden's inner circle and party strategists are concerned about an increase in misinformation. A strategist close to Silicon Valley's biggest megadonors says it's not good for the Democratic party. “I would not trust him... https://www.linkedin.com/... https://www.cnbc.…
@loganbartlett Logan Bartlett on x
Anyone comparing Jeff Bezos buying the Washington Post to Elon Musk buying Twitter is missing the absolute most important point — I like Jeff Bezos and agree with his politics
@waltmossberg Walt Mossberg on x
Obviously, a smart, successful person like Mr. Musk isn't buying @Twitter to leave it as is. And he's mentioned a few possible changes (an edit button, longer tweets, etc.) But he hasn't even had a chance to meet the product teams, lawyers, etc. So predictions today are dicey.
@pkafka Peter Kafka on x
Ideas floated here: *fire people (and/or let them quit) *add more users *sell more ads *pay-to-tweet *twitter MegaAPI (per @benthompson) Some of these Twitter has flirted with in the past. Some Twitter has been trying to do for 15 years.
@twinklecircuit @twinklecircuit on x
everyone post this while you still can https://twitter.com/...
@alexkoppelman Alex Koppelman on x
I'm really looking forward to the collective reaction when Elon succeeds in “defeating the spam bots” and all of us including him lose like 75% of our followers overnight
@tumblr @tumblr on x
welcome back :) https://www.tumblr.com/apps
@dramsinghvi Abhishek Singhvi on x
Have no idea why Elon buying Twitter has so many people triggered. He is as free speech as it gets (1st amendment types) & quite entertaining as well. Also has a great stand on sustainability. A quintessential philanthrophist.
@tariqpanja @tariqpanja on x
This happens at all companies when something big is afoot. Twitter no different. Management will huddle, staff will find when there's an outcome. https://twitter.com/...
@andrewti Andrew Ti on x
How could I leave Twitter, this place is so full of hidden gems just like an apartheid emerald mine.
@frankfigliuzzi1 Frank Figliuzzi on x
Taking it private. Will Musk become part of the radical extremism problem by calling it “free speech”? We may soon find out: Twitter accepts Elon Musk's buyout deal https://www.cnbc.com/...
@tomgara Tom Gara on x
Incredible, and possibly ominous, that this is the first major news event where nobody has a really funny tweet
@oliviatheehye @oliviatheehye on x
elon musk after suspending pop crave https://twitter.com/...
@unscriptedmike @unscriptedmike on x
Nobody is more afraid of the Elon Musk purchase of Twitter than Mark Zuckerberg, whose Facebook propaganda platform will be fully exposed.
@carnage4life @carnage4life on x
No layoffs “at this time” is code for layoffs will happen next time. https://twitter.com/...
@goldman Jason Goldman on x
Feel for the mainline employees who've actually worked to both make the site safer and run the org more professionally than ever before.
@ggreenwald Glenn Greenwald on x
If this happens even to a small extent - if he is serious about following through and able — it will be one of the best and most important developments in US/Western political discourse in some time. Expect a massive backlash from numerous power centers, which need censorship. ht…
@goldman Jason Goldman on x
On the plus side tho it'll be a fun object lesson in how content moderation is actually harder than rocket science.
@pmarca Marc Andreessen on x
WHO DID THIS @edwardrussl https://twitter.com/...
@drmistercody Cody Johnston on x
Elon Musk has died of the novel coronavirus.
@joshuatopolsky Joshua Topolsky on x
All I can say about @elonmusk owning twitter is that if his ideas about what a good user experience is are reflected in recent Tesla software updates... You can't even imagine how shitty this website is about to get
@dickc @dickc on x
Shoutout to the writer's room at Silicon Valley for tonight's wild episode
@gossithedog Kevin Beaumont on x
Yep, Elon's vision for Twitter is effectively 8chan with Pepsi adverts, and journalists to shamelessly peddle it. https://twitter.com/...
@jason_kint Jason Kint on x
Your. Move. SEC. You caved on Zuckerberg in 2019. Let's see what you've got.
@itsdanawhite Dana White on x
Working in homelessness, youth homelessness, while watching one man spend $44 billion is...a mindfuck.
@bwags Bobby Wagner on x
free speech is when the richest person on the planet buys the place where you talk. I am very smart
@goldman Jason Goldman on x
I mean in general from a personal standpoint I've already been as bummed out by twitter corporate shenanigans as I have budget for in this lifetime. So this is more like finding out an high school ex became an antivaxxer or something. Weirdly disturbing in a remote way.
@iaponomarenko @iaponomarenko on x
I don't get it why some are just destroyed by the fact that Musk has purchased Twitter. Would it be better if Amazon or Disney did it? Or Zuckerberg? Or Chinese tycoons? Is Musk known for pushing for his own personal political agenda? The dude is even helping Ukraine.
@jscros Jack Crosbie on x
fwiw i think elon musk and dorsey have pretty much the same politics so i'm not sure if things will get, you know, that much worse
@ggreenwald Glenn Greenwald on x
Hi, I work at CNN, owned by Warner Bros. Discovery, and I'm really worried about billionaire control of media. Hi, I liked the way things were before: with Soros, Omidyar, Google and Zuckerberg running everything - not a billionaire! This was in the Bezos-owned WP 2 weeks ago! ht…
@miss_birdbrain Janet Birdbrain on x
oh nooo i cant believe fucken elon musk in charge of the fucken sewers where everyone comes to fucken take a dump ahhhh
@zubymusic @zubymusic on x
This is cool. I've been on Twitter for 13 years and have watched it gradually become more and more restrictive, biased, and censorious. Not to mention huge levels of spam and bot activity. I'm confident this is a step in the right direction for freedom and fairness. https://twitt…
@mcuban Mark Cuban on x
Twitter's SMB marketing is brutal. They should be and could be doing a lot more. Will be interesting to see what @elonmusk does and what he cares about. He has some real interest expenses to pay. https://twitter.com/...
@ericjackson Eric Jackson on x
Snap, FB, and PINS down an average of 19% since March 28. Would've put Twitter at $31 today absent an Elon offer That's what the board will argue Their earnings for Q1 must be horrible
@jonerlichman Jon Erlichman on x
Acquisition prices: Twitter: $44 billion (Elon Musk) Slack: $28 billion (Salesforce) LinkedIn: $26 billion (Microsoft) WhatsApp: $19 billion (Facebook) Skype: $8.5 billion (Microsoft) YouTube: $1.65 billion (Google) Tumblr: $1.1 billion (Yahoo) Instagram: $1 billion (Facebook)
@donwinslow Don Winslow on x
Even if Musk takes over, I urge people, especially resisters, to remain on Twitter for a very simple reason: Facebook is an aggressive propaganda machine for the far right and the beliefs and ethics of Donald Trump. We CANNOT concede Facebook and Twitter in this war.
@dylanreeve Dylan Reeve on x
I honestly struggle to imagine any way this will make Twitter better. At least, assuming his intent with owning is to make it adhere more closely to his... values. https://twitter.com/...
@teroterotero Tero Kuittinen on x
Watching Twitter share price bounce on CNBC screen real time as we glide towards social acceptance of people who want to end elections in this country
@justinhendrix Justin Hendrix on x
There once was a man named Musk Whose tweets were a little too brusque So he bought the whole Twitter Leaving some users bitter As we hurtle toward democracy's dusk.
@donie @donie on x
Trump will almost certainly be left back on Twitter when Elon takes over (it'd be hypocritical of him to uphold the ban given all he's said about speech). It's going to be sure to change the dynamic of US, and especially GOP and midterm, politics.
@arthurb @arthurb on x
Last I checked, Facebook's revenue per daily active user was about 3x Twitter's. https://twitter.com/...
@thestalwart Joe Weisenthal on x
One of the biggest topics of conversation in Austin right now is the surge in property taxes. Wonder how long the strategy of importing rich Californians is going to make for good politics. https://twitter.com/...
@aprilaser @aprilaser on x
Musk makes Tesla owners sign NDAs to protect against bad publicity
@doinkpatrol @doinkpatrol on x
can't really explain it but elon buying twitter is huge jimmy pesto energy
@ericjackson Eric Jackson on x
Someone just DM'ed me: “Been an M&A lawyer for 30 years. Never seen a board accept an opening bid hostile offer”
@benmekler @benmekler on x
damn, can't believe twitter's about to be owned by a horrible person for the first time
@williesuede @williesuede on x
𓁹𓂀☏𓆉 ☏𓂺𓂻𓂉𓅿 ; 𓃠𓀡𓅷𓆏𓀿 ; 𓆈𓃰𓄁𓃟𓀬 ; 𓀡𓃠𓂀𓁹𓆉 ; 𓇽𓃗𓃱𓆈𓆏 ; 𓃠𓁹𓂀☏𓆉 ; ☏𓂺𓂻𓂉𓅿 ; 𓃠𓀡𓅷𓆏𓀿 ; 𓆈𓃰𓄁𓃟𓀬 ; 𓀡𓃠𓂀𓁹𓆉 ; 𓇽𓃗𓃱𓆈𓆏 ; 𓃠𓁹𓂀☏𓆉 ; ☏𓂺𓂻𓂉𓅿 ; 𓃠𓀡𓅷𓆏𓀿 ; 𓆈𓃰𓄁𓃟𓀬 ; 𓀡𓃠𓂀𓁹𓆉 ; 𓇽𓃗𓃱𓆈𓆏 ; 𓃠𓁹𓂀☏𓆉 ; ☏𓂺𓂻𓂉𓅿 ; 𓃠𓀡𓅷𓆏𓀿 ; 𓆈𓃰𓄁𓃟𓀬 ; 𓀡𓃠𓂀 https://twitter.com/...
@rameshsrivats Ramesh Srivats on x
Elon Musk now owns The Boring Company as well as The Interesting Company.
@katie_roof Katie Roof on x
So is @elonmusk really going to turn Twitter HQ into a homeless shelter?
@the_ada_rhodes @the_ada_rhodes on x
If Musk successfully buys Twitter deleting your Twitter is one form of protest but Twitter has barely ever been profitable anyway so another potentially approach is working together to up the average cost per user and reduce income per user
@obrien Chris O'Brien on x
Should be fun watching Musk fight the EU on this front. https://twitter.com/...
@evacide Eva on x
Gosh Eva, what makes you think that Twitter's new owner might misuse Twitter data to punish people who oppose him? https://twitter.com/...
@evacide Eva on x
@typingloudly The plan is to somehow both “open source the algorithm” and “get rid of the bots.” You cannot have both of these things at once and I think this accurately describes how inconsistent and nonsensical his intentions are.
@gartenberg Michael Gartenberg on x
Will Twitter shit down all its conms and PR like Tesla? Easier to deal with the media when they have no one to ask. https://www.prnewswire.com/...
@anthony Anthony DeRosa on x
All is forgiven if @elonmusk brings back Vine and Periscope
@jon_bois Jon Bois on x
don't forget to keep track of all your friends who are claiming they're leaving twitter so you can make fun of them in a month when they're still here
@marioarizabaez Mario Ariza on x
Damn I wish everyone had shown this level of concern as hedge funds were buying out local newspapers across the country.
@capybaroness @capybaroness on x
elon twitter is not going to be any different. the guy has never successfully built or changed or accomplished anything in his life. he couldn't ruin this website if he tried
@parikpatelcfa @parikpatelcfa on x
Just got this message on Facebook https://twitter.com/...
@robinsonmeyer Robinson Meyer on x
Every analysis of Twitter should not proceed from thinking of it as a standard firm with employees, executives, future free cash flow, etc, but as an accursed amulet that warps the desire of those around it to its own obscure but undeniably occult ends
@nathantankus Nathan Tankus on x
Very insane that one of the richest men and now twitter overlord got into Das Kapital volume 2 and 3 discourse with Haymarket on here. Forgot about this. https://twitter.com/...
@brianstelter Brian Stelter on x
3 of the most honest words in journalism are “I don't know.” The words are mighty useful today, as the entire tech and media universe digests Elon Musk's deal to take Twitter private. What will Musk do? What will Twitter become? I don't know. No one knows https://view.newsletters…
@ericjackson Eric Jackson on x
Faber just said this but I had this thought too... one person just did a $44B all cash offer for a public company which was accepted... and I remember being blown away when YouTube got bought for $1.6B in 06
@gumby4christ @gumby4christ on x
In 2011, Elon Musk attended the annual “Billionaires' Dinner” hosted by Edge, an organization funded almost entirely by Jeffrey Epstein. Also attending the dinner: Epstein himself. https://www.edge.org/... https://twitter.com/...
Fossbytes Fossbytes on mastodon
What Is Mastodon? Why Is It Trending After The Twitter Sale?
@jack @jack on x
Elon's goal of creating a platform that is “maximally trusted and broadly inclusive” is the right one. This is also @paraga's goal, and why I chose him. Thank you both for getting the company out of an impossible situation. This is the right path...I believe it with all my heart.
@jack @jack on x
The idea and service is all that matters to me, and I will do whatever it takes to protect both. Twitter as a company has always been my sole issue and my biggest regret. It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step.
@jack @jack on x
In principle, I don't believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.
@jack @jack on x
https://tidal.com/...
@jack @jack on x
I'm so happy Twitter will continue to serve the public conversation. Around the world, and into the stars!
@profgalloway Scott Galloway on x
yogababble is back https://twitter.com/...
@stevekovach Steve Kovach on x
I wonder how @paraga feels about this. https://twitter.com/...
@katie_roof Katie Roof on x
Is @jack really enthusiastic about the outcome or does he just want to stay on good terms with the new owner? 🤔
@nickstatt Nick Statt on x
Funny the “singular solution” Jack Dorsey trusts with twitter is his friend who was sued three years ago for calling someone a pedophile in a tweet and then hiring a private investigator to see if it was true, all because the man criticized Musk's unsolicited cave rescue plan 🤷‍♂…
@bauhiniacapital @bauhiniacapital on x
A sole individual wealthy not because of retained earnings on a business built but because of stock market valuations on profits not yet there, borrowing huge amounts of debt from Wall Street does not mean someone is “taking it back from Wall Street.” https://twitter.com/...
@elliotturn Elliot Turner on x
Extremely unsympathetic to @jack whining about “Wall Street” & the ad business model when 1) you get the shareholders you desrve; 2) he was CEO long enough to pursue subscription biz models while being the bottleneck for no good reason whatsoever https://twitter.com/... https://t…
@phastidio Mario Seminerio on x
Why did you listed it, in the first place? What a strange kind of regret... https://twitter.com/...
@qhardy Quentin Hardy on x
I am stupefied by that second sentence. On its own, it's impossible to say if it's delusional grandiosity, or an apology for the domination of the banal. https://twitter.com/...
@maxberger Max Berger on x
“Twitter should be a public good, so I gave control of it to the wealthiest man in the world” is a pretty good summation of the philosophy that fucked up the entire world. https://twitter.com/...
@kateconger Kate Conger on x
The billionaires who run this site have decided to go back to early internet ethos: cryptically posting song lyrics like we used to do in the days of AIM status messages
@michelleyesudas Michelle Yesudas on x
It is easy to forget that Twitter is created by/owned by all these weird men who want to turn planet earth into a space to brag about meditating in Pyin Oo Lwin during an active conflict/going to space during a pandemic. https://twitter.com/...
@lizcarolan Liz Carolan on x
People forget that Twitter started as an SMS to web protocol - 140char was to fit SMS. @jack is right to regret the ad driven business model, but Musk is not an alternative to Wall St. Musk is “libertarian” capitalism incarnate https://twitter.com/...
@jyarow Jay Yarow on x
Elon is your favorite billionaire's favorite billionaire. https://www.cnbc.com/...
@profcarroll David Carroll on x
The #BuyTwitter movement sparked by @ntnsndr proposed that users should own and govern “our” platform but that was voted down by @jack's board back then. Instead, today, a concentration of power into one person is somehow now a means to the same end? ¯\_(ツ)_/¯ https://twitter.com…
@cosmicrami @cosmicrami on x
When you live on top of a very high hill, a top a virtual empire, its easy to think you are it. Twitter is not representative of a global consciousness. Its a platform used by mostly western countries with a total active user population of ~250M from the nearly 8 billion humans. …
@aravosis @aravosis on x
Your global consciousness helped incite a violent insurrection. And the guard rails you put in place, to ensure it doesn't happen again, have just been removed. Love ya Jack, but you sound as naive as Zuckerberg here. With great power comes great responsibility. https://twitter.c…
@willoremus Will Oremus on x
Dorsey says Twitter “wants to be a public good at a protocol level, not a company,” and that “taking it back from Wall Street is the correct first step.” (But it is still a company.) https://twitter.com/...
@heathercampbell @heathercampbell on x
this is also why I love Twitter, but I don't think we're on the same page about what that global consciousness is revealing about human beings https://twitter.com/...
@sruhle Stephanie Ruhle on x
Global Consciousness... Wasn't that Adam Newman's kiss of death? https://twitter.com/...
@edent Terence Eden on x
This is, frankly, disingenuous. I had a couple of long conversations with Twitter's “Bluesky” programme. I repeatedly talked about how it could decentralise - and what that'd look like for users and developers. I was then ghosted. https://twitter.com/...
@thestalwart Joe Weisenthal on x
Just like a lot of homebuyers these days, Elon Musk waived the inspection https://www.bloomberg.com/... (via @MichelleF_Davis and @LianaBaker) https://twitter.com/...
@lianabaker Liana B. Baker on x
This was key to getting the deal done quickly https://twitter.com/...
@jimpethokoukis James Pethokoukis on x
I really don't get left-wing Twitter acting like @elonmusk Musk is Elizabeth Holmes, a mere fraudster. Like, Tesla has actual cars on the street. And SpaceX rockets are launching and landing. These are 20-year-old companies with a combined market value of over $1.1 trillion.
@carnage4life @carnage4life on x
Just because he tweets like a teenage troll, people forget that Elon Musk is one of the most successful businessmen in human history. Twitter's board didn't stand a chance. They couldn't even get him to raise his bid. Total capitulation. https://www.ft.com/...
@chassnews Anne-Sylvaine Chassany on x
Along with a promise to put down $21bn of equity, Musk sought to use part of his Tesla stake for a $12.5bn margin loan that he will remain responsible for, resulting in a personal interest payment of over $400mn a year. ⁦@FT⁩ ⁦@JFK_America⁩ https://www.ft.com/...
@bondhack Robert Smith on x
Taking twitter back from Wall Street by *checks notes* paying Morgan Stanley to lead one of the largest LBOs and margin loans in history https://twitter.com/...
@financialtimes @financialtimes on x
Elon Musk still has several matters to resolve in his acquisition of Twitter, the biggest being how he will finance the $21bn cash component of the offer https://www.ft.com/...
@anmailleach Eoin O'Malley on x
I assume Elon Musk has no interest in sports. Because there's a billionaire-buys-football-club- vibe off this purchase. https://twitter.com/...
@brexit_sham @brexit_sham on x
How Elon Musk won his Twitter prize - “Everyone did the careful analysis around it, but at the end of the day it's the $21bn equity cheque. There's never been an equity cheque like this,” one person involved in the sale negotiations said." https://www.ft.com/...
@iankmsmith Ian Smith on x
“There's never been an equity cheque like this” https://www.ft.com/...
Vox Peter Kafka on x
Now what? — Congratulations, Elon Musk? — Eleven days ago, you told the world you wanted …
@nedmiles Ned Miles on x
Can someone just tell me if I'm rich or fired please
@talmonsmith @talmonsmith on x
Its “absolutely insane” @ Twitter right now in the virtual valves of private slack rooms & employee group texts, according to an internal source. Their take/breakdown just now: “I feel like im going to throw up..I rly don't wanna work for a company that is owned by Elon Musk”...1…
@hillelneuer Hillel Neuer on x
I fear Elon Musk could undermine the ideological diversity, equity and inclusion at Twitter which currently maintains a careful balance of 98.7% for one side. https://twitter.com/...
@gergelyorosz Gergely Orosz on x
The biggest questions from engineers I have repeatedly heard: 1. What are Elon's plans? 2. Will remote work stay indefinitely? 3. Will there be new RSU refreshers once existing ones vest out? Biggest worry is whether the supportive+inclusive eng culture will stay.
@gergelyorosz Gergely Orosz on x
I talked with closer to a dozen Twitter software engineers and no one shared anything as dramatic like this tweet makes it seem. Of course, many are worried, some more pessimistic, and some more optimistic. Everyone is interested in what the plans will be. “Insane” is not it. htt…
@gergelyorosz Gergely Orosz on x
What none of the mainstream media is reporting, but I'm also hearing from a few software engineers: cautious optimism. That perhaps this change - not scrambling to meet quarterly earnings + obsessing about the stock price - will be a good thing, allowing much more focus.
@carnage4life @carnage4life on x
Despite the outcries, I expect most Twitter engineers will primarily want to know how their jobs will change and how their compensation will work going forward. Anyone who can get a job at Twitter can work elsewhere so ball is in Elon & Parag's court to convince them not to. http…
@carnage4life @carnage4life on x
I've always found it amusing that the default mindset at big tech companies is liberal (and at places like Google it's almost a parody of “woke") but Democrats hate them so much. The freakout at Elon Musk who's slightly less leftist buying Twitter is wild. It could be much worse.…
@noupside Renee DiResta on x
Elon still hasn't laid out any plan for how he will free speechify Twitter AFAICT, but it's inevitably going to have content moderation - as Parler and others who pandered to that market inevitably had to. Wonder how the fan base will react when that happens. https://twitter.com/…
@benedictevans Benedict Evans on x
(That said, he will get a horrible shock when he discovers what content moderation actually looks like.)
@lancestorm Lance Storm on x
I suggest now when you reach 1 M followers you get a free Tesla. Like a rewards program https://twitter.com/...
@jorgegalindo Jorge Galindo on x
“In a worker-run survey of nearly 200 Twitter employees on Blind, an anonymous workplace review app, 44 percent said they were neutral on Mr. Musk. Twenty-seven percent said they loved Mr. Musk, while 27 percent said they hated him.” https://www.nytimes.com/...
@kurtschlichter Kurt Schlichter on x
I so love hearing about their pain https://twitter.com/...
@kt_so_it_goes @kt_so_it_goes on x
this doesn't give me the impression the people who actually know how to, like, *do* stuff at twitter are gonna stick around to help unsuspend the alex joneses of the world, so things are doubly compounded by a rapid brain drain obstacle https://twitter.com/...
@eddie1perez Edward Perez on x
If you're wondering what @Twitter employees think, I can only speak for myself: It's a time of genuine discomfort & uncertainty. Most of us believe deeply that Twitter is much more than a tech platform; we have a deep responsibility to society. I hope our new owner gets that.
@tasharobinson Tasha Robinson on x
Bless @CaseyNewton for this sensible rundown of the Elon Musk Twitter situation. It includes as much rumor-debunking and frank talk as possible, and a useful timeline. Also, some much-needed wry humor, particularly over the question that most concerns me: https://www.platformer.n…
@cengizyar Cengiz on x
“For all its cultural importance, Twitter had a notably undistinguished life as a public company. For better and for worse, it's now up to Musk to see whether it can fare any better as a private one.” ⁦@CaseyNewton⁩ https://www.platformer.news/ ...
@quinnae_moon Katherine Cross on x
And, yes, that matters despite Musk's claim to the contrary. As Casey Newton notes in this report, citing Reuters, there will be pressure to perform in order to pay back the loans he's financing this deal with: https://www.platformer.news/ ...
@mrandyngo Andy Ng on x
Twitter locked down the ability of its employees to make changes to the platform after it was revealed that @elonmusk has reached a deal to buy the company. The lockdown is to prevent activist employees from sabotaging the platform as revenge for the deal. https://www.bloomberg.c…
@nohillside Patrick Seemann on x
“in any case predicting Elon Musk's behavior is a mug's game. [...] For better and for worse, it's now up to Musk to see whether it can fare any better as a private one.” https://www.platformer.news/ ...
@sethabramson Seth Abramson on x
Dammit. Trump has just promised America he will not return to Twitter and will begin posting on Truth Social in seven days—which 100% means that he will be back on Twitter within seven days. Remember: always take the opposite of what he says as the truth. https://www.foxnews.com/…
@maggienyt Maggie Haberman on x
Tired: Twitter is a dead zone, ignore it, say Trump fans Wired: hashtag bring back Trump, say Trump fans https://twitter.com/...
@mor10 Morten Rand-Hendriksen on x
The end of Twitter as we know it. I'm pretty sure Elon has no idea how complex the reality he just tied himself. To is. Free speech absolutism is all fun and games until you become accountable for it. https://www.politico.com/...
@kysportsradio Matt Jones on x
I will take anyone's bet in the world that if Elon let's Trump back on Twitter he will DEFINITELY join within 6 months He would be insane not to. I will take any and all action https://twitter.com/...
@fredbenenson @fredbenenson on x
i didn't expect the former guy's intransigence and narcissism to work in our favor but here we are https://twitter.com/...
@juliaioffe Julia Ioffe on x
Translation: Trump will join Twitter the second Musk lets him back on. https://www.foxnews.com/...
@juliussharpe Julius Sharpe on x
Trump not returning to Twitter is like Michael Jordan not returning to baseball. https://www.foxnews.com/...
@doney Doney den Ouden on x
Ironically this is likely the opposite of the truth but let's celebrate the idea of this for today 🍊 https://twitter.com/...
@financialtimes @financialtimes on x
FT Exclusive: Brussels has warned Elon Musk that Twitter must comply with the EU's new digital rules under his ownership, or risk hefty fines or even a ban, setting the stage for a global regulatory battle over the future of the social media platform. https://t.co/jm6KJZNkMc http…
@noahbarkin Noah Barkin on x
“Elon, there are rules. You are welcome but these are our rules. It's not your rules which will apply here” @ThierryBreton to @elonmusk https://twitter.com/...
@willoremus Will Oremus on x
elon musk buying twitter / elon musk realizing he's now responsible for twitter https://twitter.com/...
@muradahmed Murad Ahmed on x
NEW: Brussels warns @elonmusk over his Twitter moderation plans. EU commissioner Thierry Breton says: “Elon, there are rules.” - by @JavierespFT in @FT https://www.ft.com/...
@mayazi Maya Zehavi on x
Lauding free speech & messing with the SEC is one thing, but the EU did the policy work on social media (or their idea of regulation & moderation). Even Tony Stark has to be careful with the eurocrats https://giftarticle.ft.com/...
@hc4n @hc4n on x
“If Twitter is existential to his overall business interests and his account feels threatened in any way, $46 billion for Twitter is a bargain for maintaining, and increasing, his $270 billion net worth” by @ranjanxroy https://www.readmargins.com/ ...
@can @can on x
musk alone probably added more to his wealth through twitter than what he paid for it — kinda the other side of @ranjanxroy's argument today https://www.readmargins.com/ ...
@hongpong @hongpong on x
someone should make an animation showing how a 40% drop in Tesla stock would trigger a massive loan repayment within this Twitter buyout scheme https://twitter.com/...
@rafat @rafat on x
Also a great read, a grand theory of Musk's motivations. By @ranjanxroy https://www.readmargins.com/ ...
@nkulw @nkulw on x
“But the power of his tweeting also lowers his cost of capital, drives corporate partnerships, muscles regulatory pressure, is a recruiting tool, and touches every other element of Tesla, the business (not to mention every other business interest he owns)” https://www.readmargins…
@adamconner This American Adam on x
@ranjanxroy nails the best take on the Elon buying Twitter story in today's @ReadMargins. Don't sleep on Elon's Tesla pay package, how it made him the richest man in the world, why Twitter is the next thing, & why it might be existential for the SEC. https://www.readmargins.com/ …
@ruskin147 Rory Cellan-Jones on x
This is really interesting on how ⁦@elonmusk⁩ may be motivated by a pay package linked to an insane Tesla share price which has resulted in the “most rapid accumulation of wealth in human history” - and how he needed Twitter to fight off the SEC https://www.readmargins.com/ ...
@gergelyorosz Gergely Orosz on x
The only person who has an idea on his strategy is Elon. But we can assume that when it comes to the details and tactics, he'll wing a lot of it, and he's I afraid to adjust his strategy to any changes happening. The best analysis so far by @ranjanxroy https://www.readmargins.com…
@walthickey Walter Hickey on x
this makes the most sense of anything I've read on this https://www.readmargins.com/ ... https://twitter.com/...
@kurtwagner8 Kurt Wagner on x
Twitter all-hands is happening right now with CEO @paraga and Chairman @btaylor. Told employees business will operate as usual until a deal closes in next six months. No layoffs “at this time”...
@alexeheath Alex Heath on x
Notes from Twitter all hands meeting: - Seems clear who will be CEO after deal closes hasn't been decided. But board chair @btaylor did confirm the board would cease to exist once the deal closes in roughly six months. - CEO @paraga: No plans for layoffs... “at this time”
@alexeheath Alex Heath on x
Parag: There is indeed uncertainty about what will happen after the deal closes. We'll directly hear from Elon, and I will continue to spend time with him “Over time the uncertainty will decrease.”
@forrestbrazeal Forrest Brazeal on x
And you thought the pace of innovation at Twitter was slow now. Imagine trying to get something done, or even plan anything, in the next six months. https://twitter.com/...
@kurtwagner8 Kurt Wagner on x
Also regarding Donald Trump's account possibly being reinstated, @paraga said that was a question for Elon to answer once the deal closes. https://twitter.com/...
@jamesrbuk James Ball on x
If I worked in HR for Twitter I...would not be feeling great right now. An exodus and an impossible hiring environment for six months is *quite* the bugger. https://twitter.com/...
@alexeheath Alex Heath on x
- Employee RSUs will continue to vest as normal until the deal closes, and upon close they will be converted to cash grants on the same vesting schedule - @paraga will stay CEO until the close but didn't address what happens after. Said the plan is to bring Elon in for Q&A
@birdyword Mike Bird on x
Amazingly revealing bit of corporate culture info here. Twitter imposed a temporary ban on product changes to keep employees who may be miffed about the Musk deal from “going rogue.” https://www.bloomberg.com/...
@alexeheath Alex Heath on x
- On Trump coming back to Twitter: “Once the deal closes we don't know which direction the platform will go,” says Parag. It's a question we should address with Elon. - Parag on Elon: “He wants Twitter to be a powerful force in the world, just like all of us”
@albertwenger @albertwenger on x
1 - restore full API access - anyone should be able to write a full client, including their own timeline algorithm (this could require a monthly subscription)
@laurenshirsch Lauren Hirsch on x
If Twitter is worth buying, much of its value is in the employees who build and manage the service, “The wild card is, what if it becomes a very different company than they thought they were working for?” @kateconger https://www.nytimes.com/...
@naval @naval on x
If @elonmusk manages to liberate Twitter, efforts to control free speech will move to the Apple / Google level, and then to the national level.
@ggreenwald Glenn Greenwald on x
I'm not really sure how or why it happened — and at some point it should be studied with the perspective of some temporal distance - but the neediest, most ardent, and most passionate censorship crusaders are the tattletale-employees of media corporations like this: https://twitt…
@bigblackjacobin Edward Ongweso Jr on x
“Extend the light of consciousness” why do they all talk about their companies like hermetic orders?! https://twitter.com/...
@zackkanter Zack Kanter on x
I just want to be in the room when Elon finds out that the “algorithm” is some forked implementation of jquery on top of a bespoke XML/Esperanto hybrid data lake.
@bridgetmarie Bridget Todd on x
Black creativity has always made social media what it is and Twitter is no exception. It's now owned by Elon Musk, someone whose staffers say was so repulsed by the sight of their Black faces, they had to physically hide when he visited the workplace https://www.blackenterprise.c…
@josephwulfsohn Joseph A. Wulfsohn on x
Parag Agrawal said Twitter should “not be bound by the First Amendment” and “focus less on thinking about free speech.” That seems like the opposite of being “broadly inclusive” and of what Elon Musk's vision for Twitter is. https://twitter.com/...
@samsheffer Sam Sheffer on x
i do think we'll get an edit button - sooner rather than later it'll probably allow for one edit and have a “show original tweet” button for transparency yes bad actors can manipulate this system but other platforms have had comment editing for years (w/out revision history)
@ericjackson Eric Jackson on x
Suspect Elon's plan for Twitter involves: new mgmt, half the employees, web3, Vine, free with ads, but not more Twitter Blue
@keemstar @keemstar on x
Jack come on. You literally Banned the President of the United States. Be real. https://twitter.com/...
@sub8u Subrahmanyam Kvj on x
Twitter changes hands from team that's too scared to make any meaningful changes to person with a very US-centric view on how the platform should function. Don't envy Twitter employees in other countries going forward - tough job on hands. https://www.prnewswire.com/...
@leonidragozin Leonid Ragozin on x
If Twitter's algorithm is published, there will be a whole new branch of history investigating escalation trajectories in various conflicts to which Twitter has contributed. War crimes tribunals, too - I hope.
@professorcrunk Brittney Cooper on x
“The light of consciousness”? No. https://twitter.com/...
@carnage4life @carnage4life on x
Biggest disconnect I saw with Jack as CEO of Twitter is that he hated the ad business model but never created a replacement. I suspect he & Elon will prefer a paid services model given their other businesses. Also between Apple's ATT & EU laws, it's a good time to pivot from ads …
@karaswisher Kara Swisher on x
Fyi, this inadvertently (maybe) reads like @jack @elonmusk @paraga pulled off Ocean's 11 for geeks and I will throw in @btaylor (and adjacent @Benioff) to the crew too. https://twitter.com/... https://twitter.com/...
@therealhoarse @therealhoarse on x
This guy is the biggest dilettante clown to ever do cave yoga in Burma or whatever he does. https://twitter.com/...
@matthew_d_green Matthew Green on x
I own a Tesla and was super excited about getting “Summon Mode” a couple years back. My son and I took it to a parking lot and watched it lunge wildly at pedestrians until my son begged me never to use it again. And that sums up my feelings about Musk “fixing” Twitter.
@albertwenger @albertwenger on x
2 - fix the blue checkmark mess preferably by partnering with projects such as @proofofhumanity
@slpng_giants @slpng_giants on x
We have to get to a point where ridiculously wealthy people that speak like this aren't in control of the few ways the world now communicates. https://twitter.com/...
@senatorshoshana @senatorshoshana on x
jack over here just vibing https://twitter.com/...
@franceshaugen Frances Haugen on x
Censorship ≠ the solution. 👀many unknowns w/private #twitter I hope @elonmusk leans into non-content based safety solutions. Solutions exist. It's time to build them. Better social media=safety systems that scale, for diverse languages & honor our autonomy/dignity.
@lesliemac Leslie Mac on x
Y'all just pray for Black folks who work for Twitter RN. You all are on my mind. https://twitter.com/...
@parmy Parmy Olson on x
Two takes from me on Musk/Twitter: 1) The power of tech billionaires, long left unchecked by corporate boards, is spiraling out of control. 2) Musk's new power MIGHT hit a wall: tough social media laws from Europe and the UK could disrupt his free speech agenda for Twitter.
@parmy Parmy Olson on x
The question is will Musk's Twitter follow these new regulations (the Europe's DSA and UK's Online Safety law) or thumb its nose at them as he's done with the SEC. I'm veering more towards the latter.

Chronicles

Twitter agrees to be acquired “by an entity wholly owned by Elon Musk” for $54.20 per share in cash; the ~$44B deal requires shareholder and regulatory approval

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