Is it possible Musk went through a charade to buy the company as a way to expose how fraudulent they really are and destroy Twitter?
For starters, it's fraudulent to file a knowingly false SEC filing.
That thought had occurred to me as well.
I had some thoughts about this as well. I heard Devin Nunes say that President Trump met with Elon (or spoke with him) before he bought Twitter, encouraging him to do so. I found that interesting, and then Project Veritas comes out with their revealing clips in a very timely fashion. I wondered how much co-ordination was behind all of this.
As I have posted before… I wonder if Elon’s plan all along was to expose Twitter for the bias product it really has become. I’m waiting for ad buyers to sue if their reach was less than stated. I also think Elon wants to rub SEC’s nose in the incorrect numbers filed over the years by Twitter and SEC’s lack of action.
It’s possible, it does make you wonder. It also is curious how the media has reacted to this whole buyout thing. Are there those in the media that knew this?
[Is it possible Musk went through a charade to buy the company as a way to expose how fraudulent they really are and destroy Twitter?]
That crossed my mind too. He must have known the Due Diligence would collapse the sham. Project Veritas probably saved Elon a few $billion as well.
It’s an interesting thought but I don’t think so. He would have risked his reputation with the slew of investment banks that he lined up as part of the financing package.
Every M&A deal starts out based on good faith, but then follows an intensive due diligence period where experts in every aspect of the business go over the company with a fine-toothed comb. I’ve been part of those teams for a Fortune 50 and it’s just about impossible to hide or obfuscate the true activities of a business if the people doing DD are competent. As I’m sure Elon’s are...
So the outcome will either be a re-negotiation of the sale price or the deal will fall apart, either way it will have a devastating impact on Twitter. Who would want to invest in a company that has been caught engaging in fraudulent practices?
If Musk has to walk away the breakup penalty will be fought out in court. Meanwhile, Twitter will go down the tubes.
And if he should be required to pay it, rest assured he will make it his top priority to ruin them in the market and recover it that way.
Is it possible Musk went through a charade to buy the company as a way to expose how fraudulent they really are and destroy Twitter?
You make an offer “subject to.” You have done enough of your own research to know your “subject to” can reduce the price or give you an out.
Basis business negotiation.
I don’t think so. I think his intention is just what it appears to be, exposing all the fakery about Twitter in order to drive the price down to a very low level. All of which is perfectly legal.
He’s gambling that he can get a bargain basement price without destroying the company. But he won’t lose any sleep over not being able to consummate the sale. Injecting the variable of Project Veritas was out of his control I’m sure.
There is so much corrupt and probably illegal about Twitter’s operation that Musk may have inadvertently started a snowball down the hill.