Musk acquiring Twitter...
- Thread starter TIDE-HSV
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Bull! You keep bring up this idea that Twitter is a "town square". Well, guess what. If continually try to set off a bomb in the middle of town square, your right to go there will be taken away. Trump used the platform to try and destroy this country, he, and all his supporters, deserve to be silenced.
Imo, there are a number of legal theories that i yhink could be applied against Twitter and potentially Musk to encourage him to regulate his private forum. Twitter currently is being given a pass as some lawless society.
If the users of Twitter were gathered either in a public forum or private setting in the real world, the users would not be able to act the way they do. They would be potentially charged with disturbing the peace, loitering, etc. If Twitter was your neighbor or lived in your neighborhood, you would have already called the cops and reported it as a nuisance. If you have a business incentive or motive, then invitees who are harmed or cause harm may subject you to tort damages arising from this forum. There are interstate cyberbullying laws that may subject persons to criminal penalties when threats are directed at a person or group of people.
As we have seen, we can't rely on benevolent oligarchs when their enterprise turns into something profiting off animal house behavior.
If the users of Twitter were gathered either in a public forum or private setting in the real world, the users would not be able to act the way they do. They would be potentially charged with disturbing the peace, loitering, etc. If Twitter was your neighbor or lived in your neighborhood, you would have already called the cops and reported it as a nuisance. If you have a business incentive or motive, then invitees who are harmed or cause harm may subject you to tort damages arising from this forum. There are interstate cyberbullying laws that may subject persons to criminal penalties when threats are directed at a person or group of people.
As we have seen, we can't rely on benevolent oligarchs when their enterprise turns into something profiting off animal house behavior.
Last I checked he hasn’t been convicted of anything resembling “destroying the country.” Right now sane people recognize that he is harmful to national discourse, unity, and mental health. No matter how much we want to believe that what he has done rises to the level of inciting riots and general malaise, it was twitters own policies that finally removed him from the platform. Not a government imposed restriction or anything of the like.
The question becomes at what point does a private industry that has become so integral to public discourse start having to behave differently than any other similar service. Take Parler for example. They do effectively the same thing, but no one is clamoring to get DJT banned from there. Primarily because it’s ability to magnify the message is limited.
In the end, do I think Twitter and the world is better off without DJT on the platform? Absolutely. Do I believe there is any legal recourse to keep him off of a platform owned and controlled by private industry? Nope. If Musk buys twitter and follows through, I’m afraid the only thing that would keep him off twitter is a pair of handcuffs. Until then, any actual legal challenges would be tied up in court until such a time that the damage will have already been done.
Opinion: The breathtaking cluelessness of Elon Musk | CNN
Elon Musk's statements and actions about Twitter, free speech and former President Donald Trump speak to an axiom that Trump himself exemplified: In today's America, one person with no conscience and access to the right pressure points can do almost anything they want, writes Holly Thomas.
www.cnn.com
Good article.
Cheating scum thinks he is above the law. (that's nothing new for him, though)
www.forbes.com
Musk acquired a 5% stake in Twitter by March 14, but did not report it to the SEC until April 4, missing the regulatory agency’s 10-day disclosure deadline by more than a week.
After reaching 5% ownership, Musk continued to buy Twitter stock at relatively low prices before publicly disclosing his eventual 9.2% stake in the company in an SEC filing, after which the company’s share price leapt about 27% to $49.97 in one day.
Musk probably saved over $143 million by delaying his disclosure, though it remains to be seen whether the SEC will bring civil charges against Musk, University of Pennsylvania accounting professor Daniel Taylor told the Journal.
Last month, a Twitter shareholder sued Musk over the reporting issue, alleging the billionaire Tesla CEO had cheated shareholders who sold stock in between when Musk acquired 5% ownership and when he filed a disclosure form with the SEC.
SEC Reportedly Investigates Musk For Delay In Disclosing 5% Twitter Stake
Elon Musk’s decision to delay reporting his 5% stake in Twitter could have saved him millions—but he’s fackign a Securities and Exchange Commission investigation as a result, the Wall Street Journal reported.
www.forbes.com
Musk acquired a 5% stake in Twitter by March 14, but did not report it to the SEC until April 4, missing the regulatory agency’s 10-day disclosure deadline by more than a week.
After reaching 5% ownership, Musk continued to buy Twitter stock at relatively low prices before publicly disclosing his eventual 9.2% stake in the company in an SEC filing, after which the company’s share price leapt about 27% to $49.97 in one day.
Musk probably saved over $143 million by delaying his disclosure, though it remains to be seen whether the SEC will bring civil charges against Musk, University of Pennsylvania accounting professor Daniel Taylor told the Journal.
Last month, a Twitter shareholder sued Musk over the reporting issue, alleging the billionaire Tesla CEO had cheated shareholders who sold stock in between when Musk acquired 5% ownership and when he filed a disclosure form with the SEC.
Unapologetically white: Why Elon Musk is the greatest American in history
Donald Trump is back! Well…not yet. But the news that Twitter’s new potential buyer would lift the ban on Donald Trump angered many.
thegrio.com
Twitter's market cap has dropped to $9 billion below Musk's purchase price as concerns about deal emerge
The sell-off in Twitter has brought its market cap below $35 billion, about $9 billion below Elon Musk's offer.
www.cnbc.com
Elon Musk says Twitter deal "temporarily on hold"
Musk provided few details, but the tweet from his official account will ignite havoc in the tech and financial worlds.
www.axios.com
"Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," Musk said.
The company's shares plunged more than 17% in pre-market trading in response to the news. Tesla's shares rose about 5%.
The big picture: Musk's takeover bid has been wrought with so many twists and turns that Wall Street is beginning to feel skeptical that it will even happen.
For Musk to liquidate a significant amount of his Tesla stake and to wrangle bankers into giving him billions of dollars in financing, only to backtrack due to a single article, shows how manic the entire takeover process has been.
Most acquirers go through a thorough due diligence process to address these types of concerns before submitting a formal bid...
...Sources tell Axios that internally, employees are exasperated by the whole process.
The potential sale already caused a lot of concern about job security, and morale has been low. A pivot away from a sale would’ve been a relief, but the bait and switch is just as exhausting.
Difficult to trust anything he says at this point.
On the news this AM, they said he tweeted first that the deal was "on hold," then tweeted later that it was going forward...
Wonder if he got those tweets approved and if they fell under the SEC order for that.
approval is merely a nuisance to the awesomeness of Donald Musk
Haha! So true.
Twitter stock fell and Tesla stock was pumped up on news of his tweet. The implications are obvious. I hope the SEC fines him.
This is just a ruse. He says he "doesn't have enough information yet." That's laughable. He probably knows more about Twitter than the people who run it. Or Trump...
Could it be that he was intentionally trying to tank Twitter's stock and cause Tesla's to rise? The link isn't any help with that, though. It's about him not being able to simply pay the $1B fee and walk away without further consequence.
Elon Musk can't just walk away from his Twitter deal by paying a $1 billion breakup fee
Musk can't just walk away from buying Twitter, despite a $1 billion reverse break fee attached to the deal.
www.cnbc.com
Actually, that one billion walkaway fee turns out to be inaccurate. There's a specific performance clause in the contract. IOW, either party can force the other to carry through with the purchase. Of course, there's the problem of going to court to force the reluctant purchaser to buy something he's decided he doesn't want. Musk would tie it up in the courts for years, during which time Twitter would be in limbo, not able to sell itself to any other buyer, etc. They'll settle for the breakup fee...Could it be that he was intentionally trying to tank Twitter's stock and cause Tesla's to rise? The link isn't any help with that, though. It's about him not being able to simply pay the $1B fee and walk away without further consequence.
Elon Musk can't just walk away from his Twitter deal by paying a $1 billion breakup fee
Musk can't just walk away from buying Twitter, despite a $1 billion reverse break fee attached to the deal.
Elon Musk says Twitter legal team told him he violated an NDA
"Twitter legal just called to complain that I violated their NDA by revealing the bot check sample size is 100!" tweeted Musk, chief executive of electric car maker Tesla Inc. Musk on Friday tweeted https://twitter.com/elonmusk/status/1525049369552048129 that his $44-billion cash deal to take...
Elon Musk: Twitter deal cannot progress without proof on bot numbers
Tesla CEO and world’s richest person expressed concerns about presence of fake accounts on platform
www.theguardian.com
I never gave it better than 50-50...Elon Musk: Twitter deal cannot progress without proof on bot numbers
Tesla CEO and world’s richest person expressed concerns about presence of fake accounts on platform
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