Twitter and Musk

[gwb-trading]

Your theory of what Tesla people are doing is ridiculous. As usual, it is just pulled out of nowhere.

Both investors and Tesla owners are likely to sue Musk over moving 50 engineers over to Twitter.

Musk’s Shift of 50 Tesla Engineers to Twitter May Have Serious Legal Repercussions
https://www.thedetroitbureau.com/20...twitter-may-have-serious-legal-repercussions/

 

[El OchoCinco]

Because he couldn't possibly be cutting employees due to their uselessness, right? Or to drive efficiency? I mean, no one who ever acquires a company ends up firing anyone.

You're normally very intelligent on this forum, but this was a really stupid take.

lighten up Francis...I was making a joke..

but Musk did overpay for twitter...that.part is right.

$44 billion for a company with $5 billion in revenue and couple hundred million in net income or loss depending on how reported.

Is that intelligent enough for you? The purchase price makes.no sense paying almost 10 times revenue and a skinny bottom line. based on ad revenue in a possible declining economy while his tesla stock.looks ready to.drop. I have not seen anything that makes financial sense for tesla or twitter in this transaction.

 

[gwb-trading]

Musk never believed in following federal law. His plans at Twitter are just a continuation of his deliberate flaunting of the legal system.

Twitter employees file lawsuit claiming mass layoffs violate federal law requiring notice
https://www.foxbusiness.com/technol...-layoffs-violate-federal-law-requiring-notice

 

[gwb-trading]

At this point it may be easier to simply list out the major companies who are still advertising on Twitter.

Pfizer And General Mills Among Companies Suspending Twitter Ads After Musk Takeover: REPORT
https://dailycaller.com/2022/11/03/pfizer-general-mills-twitter-ads-musk/

And this should be a reminder that advertising provides 90% of Twitter's revenue and that large firms represent approx, 80% of that pool of advertising funds.

 

[gwb-trading]

"So how did you find out you were laid off from Twitter?"
"Well, I was locked out of my email account."
"Then how are they going to deliver the email informing you about your termination?"
"Don't know".
"Well since they temporarily closed all the corporate offices and suspended badge access, it's not like you can go to the office to sort things out. You know, sign any termination paperwork or anything".

https://www.cnn.com/2022/11/03/tech/twitter-layoffs/index.html

BTW - anyone look up the definition of clusterf@ck in the dictionary recently?

 

[Cuddles]

Dark Brandon assists JPOW fix inflation by triggering alt-right technocrats so much they have to dump billions in a shitty deal and help him reduce non-farm payrolls. Is there something this man can't fix?

But even DB struggles against his own successes:

 

[gwb-trading]

Employees are going to try squeeze some juice out of this. below

At best they will/would get some severance pay for a couple months. The overall outcome will be the same.

Also, of course Elons legal team gets to counter. Lots and lots of other layoffs going on elsewhere in silicon valley that do not follow this.

=======================================

https://www.cnn.com/2022/11/03/tech/twitter-layoffs/index.html
The class action lawsuit filed Thursday alleges Twitter is in violation of the federal Worker Adjustment and Retraining Notification Act (WARN Act) after laying off some employees already.

The WARN Act requires that an employer with more than 100 employees must provide 60 days’ advanced written notice prior to a mass layoff “affecting 50 or more employees at a single site of employment.”

Actually most mass layoffs at Tech companies very carefully follow the WARN act with proper filings, notice periods, etc.

 

[TreeFrogTrader]

Okay. well it will be another area for you to be butthurt then.

Either way, the employees are gone. They may get some severance, and whatever they are entitled to by law is fine. As I said though, I need to hear from Elon's attorneys before forming a view.

I had deleted my post anyway because I have more to say but legal arguments during the opening bell are not a good combination.

The employees should assert any rights they have, and Elon as well.

If elon has to pay severance, well then, he may have to lay off more employees to cover that expense. Not sure that is the desired outcome.

 

[Monobrowtrading]

Your theory of what Tesla people are doing is ridiculous. As usual, it is just pulled out of nowhere.

Speaking of useful, I heard Musk clipped The CFO due to spending excess hrs on Elitetrader and posting endless Desantis retweet’s.

 

[gwb-trading]

Okay. well it will be another area for you to be butthurt then.

Either way, the employees are gone. They may get some severance, and whatever they are entitled to by law is fine. As I said though, I need to hear from Elon's attorneys before forming a view.

I had deleted my post anyway because I have more to say but legal arguments during the opening bell are not a good combination.

The employees should assert any rights they have, and Elon as well.

If elon has to pay severance, well then, he may have to lay off more employees to cover that expense. Not sure that is the desired outcome.

There is only one real issue I care about in regards to Musk taking over Twitter -- violence in America.

Social media platforms have been used to promote hate and violence in our society. This hate & violence coupled with deliberate misinformation impacts my community and our daily lives.

Prior to Musk's arrival Twitter did it's best to eliminate hate and misinformation that promotes violence on its platform. Now that Musk has taken over -- he is scaling back moderation greatly, personally intervening to allow banned posters who promote hate back on Twitter, and claiming he will allow many other banned posters back on Twitter -- including Trump. There was a reason all these clowns were banned from Twitter -- especially after January 6th as a clear lesson.

Musk's "freeing the bird" is about turning our country into a hellscape. To many people his plans are unacceptable and dangerous to democracy.

I could really care less if Twitter goes down the toilet financially, lays everyone off, or loses most of its advertising revenue after being taken over by an ego-maniac. I just don't want our entire country flushed down the toilet as well via the promotion of hate & violence on the platform.