Thoughts on Elon Musk buying a stake in Twitter?

Peter Frampton (age 72) just called and would like his words back😀.

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Whatever one thinks of Musk, he is an extreme risk taker, personally, financially, and regulatorily. He wouldn’t be where he is if he weren’t. He obviously has a good track record of winning his bets, and his successes have benefited the country in keeping US competitive in two of the key areas of global technological races. Twitter acquisition may be different, and as we all know, past winning streak doesn’t guarantee a win in the next wager.

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This is an interesting move. He’ll probably lose, but by the time this gets appealed and settled, all of the employees will already have jobs.

That’s what I said when $$$ were spent by “ordinary” citizens to experience space travel recently as well.

Could you imagine what kind of good could be done with even a portion of that to World Kitchen, Habitat for Humanity or other worthy cause(s)?

It gives me a stomach ache when I see this kind of thing. :frowning_face:

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I am not a Twitter user, as it appears to be a cesspool of snarky comments, ignorance and abuse. That said, I think Musk’s purchase raises two questions. First, is Twitter viable as a business, with or without major changes to its business model? Second, will Musk’s takeover of Twitter really result in reduced censorship on the platform? On both counts, I think it is too early to tell.

I saw a meme yesterday that said, “I miss when the wealthy’s vanity projects were libraries and museums.”

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The WARN act requires 60 days notice for mass layoffs meeting a specific definition of such, but some companies comply when doing mass layoffs with little or no notice by keeping the laid-off employees on payroll at their full pay and benefits for at least 60 days (and often offering more in exchange for agreements not to sue). Such employees, if they start new jobs during that time, could be collecting more than one paycheck for a while. This is actually fairly common in the computer industry.

However, if Musk / Twitter does instant mass layoffs (under the WARN act definition) without continuing pay and benefits for at least 60 days, then that can be legally problematic. The lawsuit seems to be assuming that case, even though it seems to have been made before any actual layoffs occurred.

in a NYT report, one e-mail they read gave a separation date in Feb and notice of non-working during that time.

btw: Tesla was sued before under the WARN act previously and it was thrown out as the employee contracts require arbitration.

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It is more about making sure no one is above the law, IMO.

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That should be plenty right.

@Youdon_tsay - Post of the day!

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Interesting analysis.

https://www.cnn.com/2022/11/04/tech/twitter-advertisers/index.html

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Musk’s response:
“It’s the activists forcing advertisers to leave Twitter! It’s not because I fired the head of content moderation and blocked internal content-moderation tools! And definitely not because racist hate speech has exploded since I took over. And absolutely not because I tweet hateful conspiracy theories which blame victims of violent crimes.

Why does everybody hate free speech so much? Advertisers should be forced to pay for all these racist hateful violent tweets because free speech!”

For a guy who made his fortune selling stuff that people want, he’s curiously naive when it comes to knowing what people want.

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I don’t have a Twitter account, and I never intend to have a Twitter account.

And I’m glad there are many electric car options now to consider.

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

Musk surely is aware that there could be a CFIUS/national security review of his takeover. That would be a disaster if it were to happen:

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No more “days of rest” and a required return to the office for employees
.

https://www.bloomberg.com/news/articles/2022-11-03/musk-eliminates-days-of-rest-from-twitter-employee-calendars

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Paywall


In the end, if he can’t make it successful, he should just liquidate. Take the loss and move on.

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Elon Musk has removed “days of rest” from Twitter Inc. staff calendars, according to people familiar with the matter.

The monthly, company-wide day off was introduced during the pandemic period. Its expiration is another sign of Musk’s impatience with Twitter’s existing work culture.

Musk also plans to cancel Twitter’s remote work policy and have staff that are spared from deep layoffs return to Twitter offices full time.

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