fandomsecrets | [ SECRET POST #5788 ]

[ SECRET POST #5788 ]

⌈ Secret Post #5788 ⌋

Warning: Some secrets are NOT worksafe and may contain SPOILERS.

01.

__________________________________________________

02.

__________________________________________________

03.

__________________________________________________

04.

__________________________________________________

05.

__________________________________________________

06.

__________________________________________________

07.

__________________________________________________

08.

__________________________________________________

09.

Notes:

Secrets Left to Post: 01 pages, 12 secrets from Secret Submission Post #828.
Secrets Not Posted: [ 0 - broken links ], [ 0 - not!secrets ], [ 0 - not!fandom ], [ 0 - too big ], [ 0 - repeat ].
Current Secret Submissions Post: here.
Suggestions, comments, and concerns should go here.

Flat | Top-Level Comments Only

Oh, strap in because this gets insane quick. Here is the vastly simplified version though:

Musk tweeted something stupid while high, but that stupid was a legally binding offer and Twitter took him seriously because it was more money than they were ever going to get from someone sober. Pulling out would have cost him a fortune, and his ego wouldn't let him anyway, so he was forced to buy it. Buuuuuut, instead of doing the sensible thing and liquidating enough of his stock wealth to buy it outright, he got a load of loans, so that was a dumb choice to do his dumb thing, and he had no clear idea what to do except first try and make a quick cash grab to generate enough money to pay off his debts so he could dump it quick, but that failed and left him deeper in debt. Then he got mad and started trying to control and punish all the people making fun of him, which just made things worse as far as advertisers pulling out, increasing his debt.

Then he tried to cut costs by firing a bunch of people, and unfortunately some of those he really needed and was forced to try and get them to comeback after being summarily fired. And it turned out that some of the people he fired were the ones keeping track of a bunch of legal restrictions on Twitter due to FTC plea bargaining, the terms of which his proposed changes violate, so now he is looking at a genuine and for real, yes-jail time, prosecution. And there is no way he can get his money back. So Twitter has gone from a more or less, if only barely, profitable company to an unsupportable wreck in just a couple of weeks through all the dumb stuff done in the dumbest ways.

Oh, and because of the way he structured the loans to finance it, he's gonna have to sell so much stock in Tesla and Space X that he might tank them too, causing the stock price to dip so low that both of those companies declare bankruptcy, so the shareholders of those are mad at him too. It isn't the most likely outcome, but there is a non-zero chance that he might end up actually for real, not the usual billionaire version but for reals-version, actually broke and bankrupt himself too.

And his backers, who all gave him unsecured loans will definitely end up losing their money no matter the outcome. Some of those are gullible true believers, some of those are people caught up in the hype who don't really deserve to lose everything, and some are Russian and Saudi Oligarchs who are gonna want his head for this. And they might be being literal about that last bit.

Not who you were replying to but thank you for the summary! This makes things clearer to me.

DAMN - for-real jail time? THAT i had no heard about!

He fired his original legal team, and now his replacement Twitter Legal Team all quit en masse because he wanted them to "self certify" he was in compliance (basically he ordered them to say they told him he was safe and if there was any non-compliance they were legally responsible and not him) so now Twitter has no press team or legal team because nobody felt like going to jail on his behalf. Things are going great for him today.

REALLY? BWEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!

That is just fabu.

Sounds practically Trumpian in its stupidity. Arrogance - always the Achilles' heel for these sorts of guys.

AYRT--yeah, this was actually the stuff I'd heard about, but I was assuming something was happening soon/next couple of days that would actually shut the site down and not be recoverable because all the key employees who kept it running left or got fired.

I mean, I guess that could still happen?

Well damn. Here I was thinking that he was going to have to do what yahoo had to do when re-selling Tumblr at a much lower price than they bought it for - but this is... much more.

Looking forward to seeing if the going-broke and jail time thing happens though!

NAYRT

Wow! So Grimes won't be getting child support payments anytime soon?.....

Oh, she was never getting child support payments.

HAHAHAHAHA

Made. My. Day to read this. Oh I hope I live to see that asshole fall spectacularly.

Lmaoooooooo I looooooved this, thanks so much for the simple explanation!!!!!

Flat | Top-Level Comments Only

[ SECRET POST #5788 ]

Re: What's going on with twitter?

Re: What's going on with twitter?

Re: What's going on with twitter?

Re: What's going on with twitter?

Re: What's going on with twitter?

Re: What's going on with twitter?

Re: What's going on with twitter?

Re: What's going on with twitter?

Re: What's going on with twitter?

Re: What's going on with twitter?

Re: What's going on with twitter?

Re: What's going on with twitter?