Comment by rapsey
4 years ago
Those are all weak reasons.
Musk was correctly anticipating a major down turn in the economy for 2022. He was saying this at the end of 2021. Of course Tesla went down, everything else did as well. This is not a surprise. Fun fact he and Thiel also correctly anticipated the dotcom crash before it happened and pushed for the last round of PayPal funding to get done quickly at the peak as they expected it to be the last opportunity.
Twitters poor financials were known going in.
I think he would need to be pretty dumb to be surprised or offended by the result of the poll. Being CEO or not is meaningless when it is a private company and he owns the place. His word is law no matter the CEO.
It's a bit weird to overpay for Twitter if you're expecting a downturn, no?
It’s not as weird when you consider he paid for a lot of it via Tesla stock. If you think both are going to plummet in value due to an imminent downturn, you’re really just swapping ownership in one for the other irrespective of the downturn. But it doesn’t seem like a genius plan of his – he wouldn’t have bothered fighting a lawsuit to get out of it if that was his plan all along.
That was the right price at the time and patience is certainly not his virtue. Like I said putting it all on the line is how he operates.
It was never the right price, which is why the twitter board was so happy and eager as hell to sell rather than stay an independent publicly traded company.