Twitter is a cesspool of broken souls. But it is a politically and socially important cesspool of broken souls, one which Elon Musk hoped to rescue from the manipulation by legions of woke Twittercrats.
I know, I know. You don’t care. You are not on the Twitter. You also hate the Facebook.
But like it or not, what happens on Twitter drives news cycles and is the most efficient form of mass communications in the political world.
It’s also run by despicable people who do everything they can to silence non-leftist speech, to manipulate what you see, and to enable sociopaths and psychopaths so long as they hate Trump and Republicans and Conservatives and the U.S. and Christians, and you get the idea. Push back on that, and you get suspended and denied access to the political debate in the most important and influential platform.
It’s a business and can do what it wants, and if you don’t like it you should go build your own, right? Parler tried that, and it was working wonderfully until the utterly false claim surfaced that J6 was planned on Parler. Through the collusion of big tech, Parler was first emasculated by Google and Apple, getting kicked off their App Stores. Then Amazon Web Services kicked Parler off the internet not long after AWS struck a deal to have its cloud host much of Twitter. Funny how that underreported fact worked. It took Parler months to get back up and running, but it’s a shadow of its former self.
There are other new platforms, but they fragment the market and don’t have the critical mass of Twitter. We’ve tried them, and I have nothing against them, but it’s not Twitter.
I’ve called Twitter a cesspool of broken souls, and I was being kind. But it is a politically and socially important cesspool of broken souls. For a nanosecond relative to the life of the planet, it appeared that there was hope for Twitter. That nonosecond was the bid to purchase Twitter by Elon Musk, who promised to restore free expression and to stop the manipulation by legions of woke Twittercrats.
Twitter initially rejected Musk’s $54 per share bid, called Musk names, told him to pound sand and pay more, and then grabbed the deal as it became clear Musk was grossly overpaying. It couldn’t last, and Musk is backing out, asserting that Twitter has refused to fully disclose the percentage of users who are bots, and for (allegedly) misrepresenting other information. In a role reversal, now Twitter says it will sue to force Musk to purchase the company per the inflated price previously negotiated.
When Elon Musk launched his effort to buy Twitter on April 15, the share price was $54.20
Today it's $34.05.
No wonder the board is suing him to complete the original deal.
— Tom Harrington (@cbctom) July 8, 2022
Elon Musk announced Friday that he will abandon his tumultuous $44 billion offer to buy Twitter after the company failed to provide enough information about the number of fake accounts. Twitter immediately fired back, saying it would sue the Tesla CEO to uphold the deal….
Twitter could have pushed for a $1 billion breakup fee that Musk agreed to pay under these circumstances. Instead, it looks ready to fight to complete the purchase, which the company’s board has approved and CEO Parag Agrawal has insisted he wants to consummate.
In a letter to Twitter’s board, Musk lawyer Mike Ringler complained that his client had for nearly two months sought data to judge the prevalence of “fake or spam” accounts on the social media platform.
“Twitter has failed or refused to provide this information. Sometimes Twitter has ignored Mr. Musk’s requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr. Musk incomplete or unusable information,” the letter said….
In response, the chair of Twitter’s board, Bret Taylor, tweeted that the board is “committed to closing the transaction on the price and terms agreed upon” with Musk and “plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.”
The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.
— Bret Taylor (@btaylor) July 8, 2022
Musk walking away puts Twitter in a tough place, a sinking stock price and no other viable option to realize shareholder value. Maybe it’s just to negotiate a more appropriate price.
Elon Musk is going to end up buying Twitter for $17 and a box of old Pokémon cards.
— Tim Young (@TimRunsHisMouth) July 8, 2022
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