I was wondering how Musk got the financing when just a week ago it looked like he couldn’t.
The current rate for a verified mark is $5/month for most people, with some exceptions. If everyone has to pay $20/month, then that is a way that Twitter can earn more revenue, something they’ve not been able to do enough of before.
The “Chief Twit”, as per the tag he placed on his own account, definitely came in like a wrecking ball. Fired three bigwigs, will have to give them a total of about $76 million as golden parachutes, and is pondering firing 75% of the 7500 workers. Are “workers” considered a separate group than just “employees”?
The board of directors is dissolved. Gone. That $44 billion he offered you doesn’t look so good now, does it, guys. But that was probably inevitable. If they hadn’t accepted, Musk might have gone the hostile takeover route. Well, it’s that anyway now.
All trading on Twitter stock has stopped. TWTR will be delisted from the New York Stock Exchange on November 8. Everyone with Twitter stock will get their buyout shortly.
After Nancy Pelosi’s house was broken into and a man attacked her husband Paul with a hammer, Chief Twit posted a link to an article full of baseless claims about Pelosi. His comment was “There is a tiny possibility there might be more to this story than meets the eye.” He deleted it after an uproar by a lot of people, the first instance of how Musk might not realize how big a job moderating content is.
Related to this, the man who attacked Paul Pelosi was looking for Nancy. Latest info is he wanted to break her kneecaps. Paul managed to dial 911 before being attacked and spoke in coded phrases so the operator could be clued in that he was in danger without the assailant realizing it.
To top it all off, Chief Twit wants to review whether banned people should be let back in, including Donald Trump. This puts The Donald in a really bad position. On one hand, he could get his 77 million followers back again and have a worldwide voice again. Troth Senchal (Trump’s mangled attempt to say “Truth Social” one time) is a tiny squeak in an echo chamber.
But remember that the deal with Digital World Acquisition Corp has a requirement that Trump can only use Troth Senchal. It only exists because Trump couldn’t be on Twitter. If he goes back to Twitter, then he loses around $300 million that he would get from the DWAC deal closing.
Testing the new wild west Musk wants to establish has already begun, with N words flying fast and loose.
Given all this, the initial signs are pointing to outcome #2: Musk destroys Twitter.