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by MrMan
1318 days ago
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if you look at musk and his friends talking about how to restructure twitter it looks less incompetent. if you remember that he is under a mountain of financial pressure you can also see that these moves are for survival, not to make twitter more awesome. a decimated shell of a company is preferable, for someone who just massively overpaid for a non-growth company, to a much larger organization with higher cost structure. I dont understand why he wanted twitter and I think the incompetence is in the way he pursued the deal, but once one is saddled with such a problem the steps to get out from under it (or at least minimize the damage) are clear. forcing employees out is necessary. |
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The thing I read that made the most sense is that he never wanted it. He wanted to use the buyout as cover for selling a bunch of Tesla stock. No due diligence was done because he fully expected to just back out of the deal, but that didn't happen because he and his billionaire buddies were not so happy about getting deposed and dragging all their dirty laundry into the public.