Caporegime
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Certainly not me.
All I said about them was they can take a hit, think about all the companies that can't.
The ongoing Elon Twitter saga: "insert demographic" melts down
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All I said about them was they can take a hit, think about all the companies that can't.
Soldato
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And now he has got himself into a fight with his big mouth.
Yet there's no evidence he's not paid small suppliers, so what the **** are you talking about?
Caporegime
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There's no evidence of anything you said in the post I quoted either, so maybe try some self reflection.
Permabanned
Not wanting to get too personal, but when foreigners bought the local convenience store I just stopped using them once their politics, work ethics, hygiene and opinions became clear. It may be a bizarre option to consider, but I would imagine your life would continue without huge inconvenience if you just shunned those companies that so irk you?
It must be frustrating spending so long discussing how these playgrounds should or should not be run, but with no ability to change them save to use or not use their "facilities"?
You don't have a vote on their management short of dissolving your accounts.
Soldato
its being fairly widely reported hes not paying all over the place
its quite common for companies to let debt get 6 months old before they start legal action
its quite common for companies to let debt get 6 months old before they start legal action
Commissario
Lol
"terrible contracts"
You do not renege on a legally binding contract just because you don't agree with it.
You either end the contract early taking any financial hit that is required if that is cheaper than continuing it, you find a point under which the contract is not being upheld by the other party and is grounds for ending it and use it, or you grind your teeth until you hit a point where the contract allows for you to end it. Musk decided, without any attempt at communicating to just stop paying, pretty much anyone and everyone that he didn't think was essential to the immediate running of the company*.
And no Musk is not the "sort of person you want in charge of a company when times are hard", he's the exact opposite, he is impulsive, doesn't listen to any advice (remember he signed contracts against the advice of his lawyers and ended up buying twitter because of that), and is about the wort possible person to have in charge.
He's actually quite a good example of why most militaries in the world stopped having "paid for" commissioned officers, as he's demonstrated quite well that just because someone has money and is arguable good in one area, does not mean they're actually competent in other areas.
Remember Musk is currently facing legal action in (from memory)
Multiple European countries, Australia, Asia AND the US and that's just for his treatment of workers and their contracts when he fired them from twitter.
He's also facing legal issues in multiple EU countries and Australia for failing to meet the requirements for the sort of company Twitter is in terms of child safety etc.
Then he's facing court cases in pretty much every single country where twitter had an office for failing to pay for services and rent.
This isn't "great leadership in hard times" this is someone who has likely never actually had to bother with understanding what a contract is before, and is for the first time ever fully in charge with no one able to gently guide him away from absolutely stupid, and really basic legal mistakes and business decisions**, it's also possibly the first time he's not had a load of grand ideas for a world changing bit of (largely) speculative tech that he can keep getting investors to pay into until someone works out how to do it..
It's also worth noting that the "Hard times" are around 60% due entirely to Musk, he bought twitter on such terms at such a value that the moment the ink dried he tripled the losses it was making simply with the interest payments on the loans he took out, which is stunning leadership.
*I'm going to laugh so hard if it turns out he's decided the electricity suppliers to the data centres are charging too much and tries it with them...
**IIRC at one point his payment business that IIRC merged with paypal was, under his direction, offering high level credit cards without any checks to anyone that asked, fortunately for the business the application for that card was largely hidden away by people that understood why you don't do that if you wish to remain solvent.
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Soldato
Thinking about it, we know musk has issues with people who are actual experts so maybe he thinks that he is off the hook for debts incurred before he took over. (i saw an indian company had had a response in regards travel before he took over with the response of "i didnt authorise that")
Thats what normally is included within DD, are the debts correctly registered or understated.
You normally do this by writing to all the major suppliers and checking statements for smaller ones.
Thats what normally is included within DD, are the debts correctly registered or understated.
You normally do this by writing to all the major suppliers and checking statements for smaller ones.
I struggle to understand that the world's richest man has never had to understand a contract before.
Soldato
Different if you had a contract or not however.
No contract feel free to walk away.
If you still owed the business for last months daily DE delivery you would still do so whether you liked their hand cleanliness or not.
Soldato
Whatever happened with Twitter it must have started to become uncontrolable in the direction it was going in pre-Musk, when the previous owner Dorsey supports Musk.
Caporegime
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Yeah, can't possibly be Musk's fault
Must be the previous owners, when twitter worked almost flawlessly all the time
Must be the previous owners, when twitter worked almost flawlessly all the time
Soldato
Commissario
Lawyers and people who you at that time listen to...
Many of the worst people for lawyers to deal with are the "wealthy" and the "smart" who have never actually looked closely at a contract before or think that because they're really good at one thing that means they're automatically great at the law*.
Musk seems to have thought that you could sign contracts and then renege on them at will, a common thing with the very well off who have previously managed to sign contracts then basically wait until the legal action taken to enforce the contract has hit a point the person or company trying to enforce it has run out of money, and thus they "win" by default when the other party cannot pay their lawyers (or write it off).
It is also, as I say probably the first time Musk has actually signed a major contract where he's been the only person signing it on his side and thus no one else at the same level, or higher able to say "no Elon that's a really bad idea". As I said, Musk signed contracts that had a number of lawyers agog with how stupid a move it was, then turned around and tried to get out of them right up until Twitter proved that they were willing to keep spending on the lawyers to force it to court because from memory the contract had a clause that meant Musk was going to pay for them when he lost, and there was basically no way he could win given the the various "smart" moves he'd done (starting with making the "really amusing" offer, then signing the contract, then waiving the time period and opportunity to inspect what he was buying).
You can basically sign hundreds/thousands of contracts but never know what you're really signing because normally you, if you are actually smart, listen to what your experts are telling you, I suspect those experts and lawyers (IIRC musk sacked his when they couldn't reverse his mistake) normally stop you doing something really stupid if you listen to them. This was probably the very first time that Musk had signed any big contract without the oversight of lawyers or people able to stop him making a stupid mistake, and he refused to listen to the legal advice he did have.
*A subject that is so wide and so finely detailed that you don't just have "criminal" and "civil" lawyers, you have lawyers whose sole job might be one tiny specialist part of contract law regarding say the materials used in your rocket motor, or the law on property contracts with clauses drawn up in the 1700's but enforced in perpetuity (or until the last direct descendent of the King of England is dead) etc.
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Commissario
Or Dorsey isn't willing to admit he made a mistake in leaving his company to Musk, or is enjoying seeing Musk throwing money away*.
It is worth noting that prior to Musk Twitter was sometimes making a profit, and it's worse loss was only a third of what it was the instant Musk took over, it was also more stable as a platform, had few legal issues, and had a source of income that was reasonably reliable.
After this weekend I've been seeing more and more of the "creators" (actors, authors etc) that people used to sign up to twitter to interact with/keep up with (given how many would announce signings/conventions etc on twitter) giving out their alternative contacts, and more talking about their "bail out" plans.
It's increasingly becoming the case that the main reason to go to twitter is to be bombarded with paid for scams and trolls as Musk has put them at a higher priority in replies etc.
*It's also possible one of the contracts had a "no discouragement" clause that is in force for X amount of time, and is quite common in certain types of contract (basically you can't talk negatively about the company you left/sold for a while).
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Soldato
Musk made Dorsey even richer with that price per share he paid. I'm sure Dorsey thought Musk might be a good thing, I somehow doubt he still thinks Musk is good for Twitter.
Soldato
The problem with Musk is, in my view, he's gone too far in the opposite direction. Twitter is still getting involved in culture wars.
Twitter has the legal status of a network, like our telephone networks. They have an immunity to liability. All they literally have to do is two jobs;
1. Criminal - Remove illegal material and report to the local authuraties, and;
2. Civil - Provide account details in the event someone is trying to sue someone else.
Soldato
You probably consider foreigners to be people from that horrible County Palatinate of Chester to the north, what with their uppity Earl and their running water and electric lights..
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Associate
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- 19 May 2010
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He definitely didn't understand the one which had an offer of $44 billion in it.
Caporegime
Has Meta launched anything successful since Facebook? I mean, they own a bunch of successful products but it was all acquired rather than developed by the company. Meanwhile stuff like the Metaverse were so obviously doomed from the start, you have to doubt the judgement of the people in charge. Maybe Threads can challenge Twitter, and maybe launching it off Instagram will give it the starting weight it needs to snowball but... I dunno, I doubt it.
Twitter is spiralling, but that doesn't mean that Threads is going to take its place. None of the heirs-to-be are looking all that likely to hit the big time right now.
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