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Wouldn't Musk being sued for bringing Tesla folks over on his little side hustle be contingent on the Tesla engineers not being willing to participate? I'd imagine they were hand-picked amongst Tesla true believers or people who volunteered at the opportunity to get a look under the hood at Twitter, and as an added bonus, get to choose who lives and dies among Twitter engineering.
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Nov 5, 2022 03:01
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Oh I doubt the Tesla engineers will have firing powers, Musk is planning on firing half the staff at what is essentially random.
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Nov 5, 2022 03:08
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StumblyWumbly posted:Any Tesla engineer Musk wants to do some dumb code review can find a job elsewhere, so he's not going to break any employment laws over this.
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Nov 5, 2022 03:57
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Yeah I was pointed to a tweet thread earlier from the head of twitters ui experience team where they're all pitching the employees because they need jobs on unfortunately short notice.
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Nov 5, 2022 04:04
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Morrow posted:I need to stop posting tweets, but there's no better way than Twitter posts of former employees to chronicle the downfall of Twitter. Now more than ever, I urge you to screencap tweets.
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Nov 5, 2022 06:51
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Kwyndig posted:Oh I doubt the Tesla engineers will have firing powers, Musk is planning on firing half the staff at what is essentially random. He watched that Marvel movie didn't he?
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Nov 5, 2022 06:52
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Foursquare tried to tell me they were the town square of the internet about 5 years back and I nearly laughed in their face. I did laugh at The Chive people
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Nov 5, 2022 09:37
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Musk has a history of intentionally shorting his stock in Telsa for financial gain. If Musk was trying to 'short' Twitter, would he be doing anything differently right now? Is there any way he can make money off of ruining the value of Twitter?
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Nov 5, 2022 14:37
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Pleasant Friend posted:Musk has a history of intentionally shorting his stock in Telsa for financial gain. If Musk was trying to 'short' Twitter, would he be doing anything differently right now? Is there any way he can make money off of ruining the value of Twitter? There's no financial maneuver that digs him out of the financial hole he is in for twitter. He needs Twitter to come up with a billion a month in profit just to handle the debt payments.
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Nov 5, 2022 15:05
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Elon is going to try cooking meth to make the money.
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Nov 5, 2022 15:14
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Pleasant Friend posted:Musk has a history of intentionally shorting his stock in Telsa for financial gain. If Musk was trying to 'short' Twitter, would he be doing anything differently right now? Is there any way he can make money off of ruining the value of Twitter? There are no more stock shares to screw around with. He owns the company entirely (with some private investors). Anyone who wants to own a piece of Twitter now has to reach out to Elon Musk personally and give him money. The traditional way to profit from ruining a company that you just purchased is to sell it off for parts in a way that puts money into your (personal) pocket until such time as the house of cards collapses and the only thing left to do is walk away and let your (the business's) creditors and partners fight over the ashes. Note that Twitter's parts were never worth anything close to $44B tho. withak fucked around with this message at 15:31 on Nov 5, 2022 |
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Nov 5, 2022 15:26
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Morrow posted:There's no financial maneuver that digs him out of the financial hole he is in for twitter. He needs Twitter to come up with a billion a month in profit just to handle the debt payments. Billion a year, not month. But yeah he's hosed.
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Nov 5, 2022 16:21
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Considering it probably wasn't even worth $40/share and he had to buy it for $54.20, that's a lot of ground to cover without including the loans.
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Nov 5, 2022 16:30
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Pleasant Friend posted:Musk has a history of intentionally shorting his stock in Telsa for financial gain. If Musk was trying to 'short' Twitter, would he be doing anything differently right now? Is there any way he can make money off of ruining the value of Twitter? It sounds like he kinda is, that's that whole legal leveraged debt buyout thing? I mean he basically bought Twitter because of his ego, it's very likely he wants to destroy it because it hurts his feelings.
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Nov 5, 2022 16:39
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notwithoutmyanus posted:It sounds like he kinda is, that's that whole legal leveraged debt buyout thing? the way to make money on an LBO is to use other people's money to buy the company, make the company pay the debt, and then sell off any useful bits of the company until you just walk away from the hollowed out company which you stuffed full of debt what elon musk is doing with twitter is more like burning down a house for the insurance money and then forgetting to actually leave the house. there's no clever financial moves here, he put up a huge chunk of his own wealth as well as other people's wealth to buy something at inflated value which cannot ever be worth what he paid for it, let alone be worth more than that. actually the house analogy is garbage, its just a funny image. what elon musk is doing is more like going into deep credit card debt to buy someone's storage unit full of funko pops anticipating that they will skyrocket in value and you can pay off the debt Mr. Fall Down Terror fucked around with this message at 17:15 on Nov 5, 2022 |
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Nov 5, 2022 17:12
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Do funko pops even have resale value?
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Nov 5, 2022 17:58
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Harold Fjord posted:I'm pretty sure Elon was just trying to do some stock market poo poo involving price manipulation and committed too far to the bit That's my take. He got one hell of a surprise when it turned out he had to follow through and now he's just flailing around trying to do something, anything, to deal with having to actually own it. The normal thing to do is to sell all the property to another company you own at $1, rent it all back at exorbitant prices, and then give the unsecured debt holders the empty bag. Treat the assets as assets, and the liabilities as "lol, comma, lmao." The problem is, Twitter doesn't have $44B in assets to sell off, so there's no way to recoup the cost of buying it in the first place. I do appreciate him managing to do a softbank and just light billions of dollars in banker money on fire, though.
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Nov 5, 2022 18:09
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Kwyndig posted:Do funko pops even have resale value? It's somewhat hilarious that the guy who you just know thinks of himself as the world's smartest man has put up over $20 billion of his own money, plus as much again of various powerful institutions who really like getting their investments back plus interest, into a company that he's promptly changing in a way guaranteed to piss off the very people who use it. If the whole fiasco torpedoed Tesla's massively overvalued shares, that would be the icing on the cake. But hey, at least in the meantime the 8-buck bigots will have their voices amplified, which seems to be his primary motivation for the whole thing. (That and spite.)
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Nov 5, 2022 18:17
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https://twitter.com/TaylorLorenz/status/1589348761821937664?s=20&t=ttwZDO3WGLl1e0ruCjCcoA
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Nov 6, 2022 21:19
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Wow sounds like they have some leverage they should use
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Nov 6, 2022 21:23
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Just LOL if you don't get in touch with your laid off colleagues, form a consultancy, and bill Twitter hourly per head at twice the max of prior compensation.
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Nov 6, 2022 21:29
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Absurd Alhazred posted:Just LOL if you don't get in touch with your laid off colleagues, form a consultancy, and bill Twitter hourly per head at twice the max of prior compensation. Alternate approach is to come back at a higher salary and keeping the severance pay (no strings attached), while continuing to look for another job at your own speed.
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Nov 6, 2022 22:38
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Honestly in this economy i’d still take a twitter job over, like, a severance and a job search. Meta’s about to announce mass retrenchment as well. No one is safe.
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Nov 6, 2022 22:55
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Vegetable posted:Honestly in this economy i’d still take a twitter job over, like, a severance and a job search. Meta’s about to announce mass retrenchment as well. No one is safe. Meta also decided to piss a bunch of money down a hole, not sure this is that surprising
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Nov 6, 2022 23:08
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We've had a lot of extra requests for feedback and an extra review cycle this year. I reckon the belt is tightening.
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Nov 6, 2022 23:21
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smoobles posted:22 hour fast? How much is he eating during his 2 hour long dinner? IF is a dumb weird SV trend, or at least was. It usually isn't that extreme (That's not to excuse the "sane" version, which gives you an 8 hour window to eat within), but he's probably worked his way up to that level. It's another one of those "There's no evidence for this, but some say it can cure all sorts of things!" diets that purports to "give you more energy" and cure poo poo like high blood pressure, diabetes, and poo poo like that. He's probably eating just under a day's calories within that two hour period.
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Nov 6, 2022 23:52
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Eating for two hours straight will wreck your metabolism if you fast for 22 hours. In other words, it'll make you fat.
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Nov 7, 2022 00:49
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Pretty much everything on both sides of the IF debate is just conjecture and best guessing. Fasting is a spiritual act, a bit of deprivation to keen the edge of one's mind and give one things to meditate on. Pretty much anybody who doesn't eat breakfast because they don't wake up hungry fasts almost every day for their whole lives without keeling over dead from some wasting disease. Humanity owes at least as much to our ability to eat goddamned near anything in whatever sort of frequency is required to our success as a species as our thumbs. Picking a day to just not consume anything but calorie-free liquids is a fine way to, at the very least, save money.
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Nov 7, 2022 00:54
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notwithoutmyanus posted:It sounds like he kinda is, that's that whole legal leveraged debt buyout thing? Musk is doing an LBO, but 13 billion of that is the leveraged part. The rest of it is his own money (or private backers like the Saudis) because he's a dumb poo poo. So it's like the worst of both worlds because the company has to service a loan to the tune of 1 billion a month AND if it fails he's out like 20-30 someodd billion of his own money / Tesla stock. He's not going to be able to extract that much money by striping the copper out of the walls before it gets shuttered.
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Nov 7, 2022 01:17
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Kwyndig posted:Do funko pops even have resale value? There is/was a thriving funko pop resale market that meant that people are limited to buying one special edition of anything at a time. It's very much this generation's beanie babies. Elias_Maluco posted:https://twitter.com/TaylorLorenz/status/1589348761821937664?s=20&t=ttwZDO3WGLl1e0ruCjCcoA "At a 20% raise, I'll be glad to help"
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Nov 7, 2022 01:22
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DeathSandwich posted:Musk is doing an LBO, but 13 billion of that is the leveraged part. The rest of it is his own money (or private backers like the Saudis) because he's a dumb poo poo. So it's like the worst of both worlds because the company has to service a loan to the tune of 1 billion a month AND if it fails he's out like 20-30 someodd billion of his own money / Tesla stock. I think I've seen it quoted at 1 billion a year plus operating costs he has to overcome.
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Nov 7, 2022 01:23
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Sodomy Hussein posted:There is/was a thriving funko pop resale market that meant that people are limited to buying one special edition of anything at a time. It's very much this generation's beanie babies. 80% too low.
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Nov 7, 2022 01:29
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goatsestretchgoals posted:80% too low. Seriously. If a job calls you back after a stupid layoff, tell them to make it rain.
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Nov 7, 2022 03:16
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DeathSandwich posted:Musk is doing an LBO, but 13 billion of that is the leveraged part. The rest of it is his own money (or private backers like the Saudis) because he's a dumb poo poo. So it's like the worst of both worlds because the company has to service a loan to the tune of 1 billion a month AND if it fails he's out like 20-30 someodd billion of his own money / Tesla stock. Is there someplace that actually has the details? I went looking but had trouble finding anything, though I'll admit I didn't look too hard. Also, $1B/m doesn't sound correct, $1B/y?
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Nov 7, 2022 04:02
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Wasnt twitter losing money even before the 1b/yr interest service? The company is boned now lol
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Nov 7, 2022 04:31
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Volmarias posted:Is there someplace that actually has the details? I went looking but had trouble finding anything, though I'll admit I didn't look too hard. 1bil/year aka 3mil/day is what people qualified to guess about Musk's payment terms say. I think I saw that Twitter lost 250 mil last year, would have lost about the same this year but they sold something big.
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Nov 7, 2022 05:09
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Also the latest reports are that they didn't pre-sell any advertising for next year like they usually do because the big advertisers don't trust Elon. I'm not sure how much we're talking about, but that's likely in the hundreds of millions at least of missed revenue. This is why Elon is desperately scrambling for something -- anything -- that could make the site profitable. It remains to be seen whether he can do that by firing half his staff in the worst possible way, then forcing the demoralized remainder onto a coding deathmarch implementing whatever batshit crazy idea he has while ignoring all their usual risk assessment procedures. I'm going to say probably not.
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Nov 7, 2022 05:32
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Lead out in cuffs posted:Also the latest reports are that they didn't pre-sell any advertising for next year like they usually do because the big advertisers don't trust Elon. I'm not sure how much we're talking about, but that's likely in the hundreds of millions at least of missed revenue. Gotta admit, I've never seen a $44B temper tantrum before.
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Nov 7, 2022 08:13
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Volmarias posted:Gotta admit, I've never seen a $44B temper tantrum before. https://en.wikipedia.org/wiki/Financial_cost_of_the_Iraq_War
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Nov 7, 2022 08:23
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Does it really count as wasting money if it all goes to your friends in the military industrial complex?
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Nov 7, 2022 09:12
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