40 Burst results for "Musk"
Fresh update on "musk" discussed on Bloomberg Best
"I'm Ed Baxter. And I'm do these television. You're listening to Bloomberg wealth, with David Rubenstein part of our best of Bloomberg series. And in this episode, you're hearing from Don Fitzpatrick, chief executive and chief investment officer of sorrows fund management about alternative assets like crypto. And also on teenagers at possibly being the next big generation of investors. So here's David with Fitzpatrick on that and also on trading strategies. Let's listen in. When I go the wrong way on something, I just say, you know, I'm going to stick with it forever. I don't like to admit a loss, but we are a traitor you're supposed to say, okay, I made a mistake. I'm going to the next thing and get rid of the position. Yeah, and I think, by the way, there's two reasons you want to do that. First of all, because usually you just compound costs costs when you leave a bad trade on, but also the distraction factor of having a bad trade, it takes up too much mind space. Now, you have children? I have three great teenagers. And do they want to be investors or you're trying to talk to them into not being investors? They absolutely want to be investors. And I love that they do. One of the silver linings of COVID is that these teenagers became enamored with markets and cryptocurrencies in a way that I think is durable. These kids are watching markets in a way that I don't think generations have for a while. And I think it's great. So teenagers are not famous for going to their parents for advice. But do they go to you for investment advice or just parental advice? I'd like to think they come to me for both, but they do call me when Elon Musk made his bid for Twitter, my son and three of his friends had me on the phone, asking what was going on. A lot of younger people do seem interested in crypto and there are a lot of people who are older who say this is going to go away. But now it's unclear whether crypto is really going to take off or the government's going to do something. What is your own view on crypto? It's here to stay. I think it's gone mainstream fidelity just announced you can put it in your 401k. The one caveat I would say is, first of all, climate impact is going to become increasingly focused. So in that context, I think Ethereum is likely to gain some more traction over Bitcoin. The other thing I would say is that when we look at companies in the kind of blockchain crypto space, it might be a security audit company. They all have massive treasury accounts with a lot of coins in them. And to me, that creates a little bit of near term vulnerability. But that said, I think blockchain technology is going to have some great applications. And crypto is here to stay. What about spacs? Less of a fan of spacs. I just think they're really misaligned with the end buyer. And I think chairman gensler kind of taking a hard look at them and kind of pushing through reforms. I think it's important. It's overdue with the right thing to do. And how do you look at other new areas? Are there other new areas like crypto that you try to figure out to get on the ground floor? Are there any that you can mention now that you're trying to get on the ground floor of anything new? Yeah, so I think kind of democratization of access to alternatives. In a way, not like spacs, where you layer in kind of asymmetric fees is interesting. So fractional ownership. And again, that's things where blockchain technology can actually accelerate. So if you think about things like insurance and kind of being able to distribute that risk among thousands or hundreds of thousands of people in an industry that otherwise has had a lot of friction, I think that's really, really exciting. It's been reported that the U.S. economy actually shrank in the first quarter of 2022. Do you think this means we're likely to go into a recession? There's a lot of discussion about a looming recession. And the bottom line is a recession is inevitable. It's a matter of when. And when you look at what markets are pricing here, they're pricing it fairly soon. So in the 2023 context, depending on which asset classes you're looking at, I actually think markets might be wrong. And the reason is, is the consumer right here is an extraordinarily good shape. We've just gone through a U.S. earnings season. The credit card companies, delinquencies are way below pre-pandemic levels, people are paying down their credit cards at levels that were way, way faster than pre-pandemic. So it's a long winded way of saying the consumer is in reasonably good shape. There's no doubt real wages are negative for in other words, your real wage growth is negative. So wage increases are not keeping up with inflation. But I do think consumers, to me, feel like they're being measured and they're in good shape. That was Don Fitzpatrick. Chief executive and chief investment officer of Soros fund management on Bloomberg wealth with David Rubenstein. And coming up Fitzpatrick's view on the fed and whether it's doing enough. Plus, what your investment strategy should be if you just happen to have a $100,000 sitting around. And what's the best investment advice she ever received? And help Fitzpatrick credits her parents with her success. You're listening to Bloomberg wealth with David Rubenstein, part of our best of Bloomberg series, and this is Bloomberg.
Musk meets pope, uses Twitter to announce the audience
"Tesla CEO Elon Musk has announced that he has met with Pope Francis Musk made the statement on his Twitter account as his $44 billion bid to buy the platform still remains in limbo Honored to meet pontifex yesterday Musk tweeted of the Friday afternoon audience Alongside a photo showing Musk Francis and four of Musk's teenage children the Pope frequently meets with high profile figures in strictly private audiences that are held in a reception room of the Vatican hotel where he lives A common talking point he uses when meeting with corporate CEOs is to appeal for them to use wealth and technology to help those most in need
Fresh update on "musk" discussed on Rollye James
"Wow. The video iPod. Wow, jeez. Somebody really got carried away with this. Spirit of Christmas. That was me. I got carried away with the spirit. Wasn't there a $20 limit on the gift? This is 400 bucks. You don't know that. Yeah, you'll have the price tag on. I did. Yeah. Why? Oh, shoot. Wow. Okay, well, who cares? It doesn't matter what I spent. What matters is it Christmas is fun, right? What a miserable human being, December 6th, 2005, second season. Second season, and then the office took off. Were they really 400 bucks? I don't remember that. I thought they were more. I thought it was 600, 400 bucks. They're expensive. I know that. I know that, but I'm telling you what that was the bomb. That was like on earth. You couldn't believe it, that the clarity and that you could actually train your eye to appreciate a TV show or video on a small screen like that. That was a game changer. And really think about that even the iPod videos. Does anybody have one of those now? No, some of you may be still walking. A lot of you have sent me texts yesterday going on, still loving my iPod or my iPod mini. So but why are we even talking about it? Because we're not going to make them anymore. It makes me want to run out and buy one. It's sort of like when a store has it's going out of business sale and everybody lines up. Now I want one of them. Yes, exactly. It's ten 16. This is one other thing we want to put to bed here. And we'll do it after a quick break. But last Friday, and I took Monday off, didn't get to it yesterday, but we asked you, Andy, you should pay attention to that. Things we do wrong The things we do wrong list. It comes from a speed joke we did last week, and the joke was till I got married. I didn't know there was a wrong way to put the milk back in the refrigerator. You're going to get married this. Yes, I am. So this is a preview for you. But you need to be ready for. So Andy, that joke was until I was married. I didn't know there was a wrong way to put the milk back in the fridge. I said, what else are you doing wrong? Let me just sprint through some of these. This is a summary of what we did on Friday. My husband eats chips and popcorn incorrectly. I don't fold socks properly. My wife insists, I turn off the car when pumping gas, I never have. We all went, oh, on that one. Loading the dishwasher, I don't do it correctly, and he notes on that. Yes, I don't. 8 four 7 said my husband thinks bathroom doors are to be closed, even when not in use. Three one two. I put the napkin on the wrong side of the plate. Well, technically I think there is a right side and a wrong side, but what is the queen of England coming over? My husband uses butter by taking it off the top of the stick and not the end of the stick, he is a monster. John, I don't even take the dishes out of the dishwasher correctly. Wow. That's rough. Let's go back to the butter when you scrape it along the length of the stick you get a thinner blade of and then it's easier to spread. Yeah. But it's longer too. But you kind of ruin the shape of it. So I'm not going to get involved in that. John, my wife posted an illustration above the clothes dryer. Showing me the correct way to fold undershirts and towels. That one hits home. In my house, we have thermostat wars, although we're all having them now. Oh yeah. Because you just want a break, but no, now we're running the air. Really, we've got to run the air. Well, it is 90. 90 in May is the same as 90 in August. It's 90. Let's go back to the list. When I first got married, my new bride laundered my dress shirt and hung it up, buttoning the second button, but not the top. I commented, if they should be buttoned on the top, and I had to do my laundry after that. John, I just refold every towel that my husband folds 47 years married. Before I was married, John, I did not know there was a wrong way to put bed sheets on the bed. John apparently I do, this is my favorite one, saved. Do you love this one? I don't eat M and M's properly. I put a few in my mouth and they rattle around against my teeth. I don't know I don't know how to fix that. I don't know what you're going to do. And then finally, John, the loaf of bread must be closed with a twisty tie. Spinning the bread bag and tucking the spun end under the loaf is an absolute no no, and no amount of pleading or begging will change that unpublished fact that a twisty tie must absolutely be used to close the loaf of bread and if not done as per unpublished fact your ears will bleed from a tongue lashing. And these are people that share a bed. Have reproduced. So there's that. Good luck to Andy. Thank you so much. The towels thing really resonates because I have no idea how to fold the towel. You fold it the long way in half. You just kind of flip it over the long way, and then you do a tri fold. You do a trifle. I'll try that and see if that one works. Elon Musk says that he's going to put the president back on Twitter. He said that it was a mistake to take him off, and that we need to enable people to have free and fair speech. We're going to ask you in our news click how you feel about that. And what you would do about it. You know, sometimes if a CEO does something you like, you can go out and patronize their company and if they do something you don't like, then you can say, well, I'm not going to go to hobby lobby ever again. I'm not going to go to Home Depot, target whatever the store is that did something you don't like. What are you going to do about this? I mean, I'm not going to buy a rocket ship, but you could maybe not buy a Tesla. If you don't like what Elon Musk is saying, and then a lot of you musketeers out there are going to say hooray, but I'm not sure that it's going to be so easy to sort of exercise your opinion with your wallet. You could stop using Twitter. And I think that's going to be an interesting question. Will Elon Musk is unleashing Donald Trump again, make it better or worse for Twitter. John we've been married 57 years, and my wife still tells me how to drive from the passenger seat. John, I put the trash liner in wrong. I'm not sure how you can do that wrong. Sean, I'm a mother and a wife and I have four boys and my husband leads the toilet seat up. My boys all put it down. Why? John, I use my dit well as a courtesy for you, mom. John, I use my dishwasher as my everyday kitchen Hutch. Everyday kitchen Hutch. I'm not sure what that means. John about the butter thing, taking it from the top of ruins the measurement. If I'm baking and need tablespoons, I have to open up another stick capital letters exclamation points. We all have crosses to bear. I just want to read two other texts that will take a break. About your iPods. John, I just bought a new iPod. I like to keep my music separate. I don't know if I'm going to use it, but what's with me? No, I want more. What's the new iPod going to run, BP, you know? An iPod. I mean, those come in boxes of cracker jacks now, don't they? The iPod touch is the one that's still available, I believe. Yeah. iPod touch. Well, I'm going to guess, let's play a name that price. 79.99
Krystle Matthews Wins SC Primary Runoff Despite Crazy Leaked Call
"Support. James O'Keefe hits home run after home run, and he recently has an amazing one from his project veritas action as well, and yesterday I think was his birthday. James, welcome back to Charlie Kirk show. Great to be with you, Charlie. What a big story this isn't South Carolina. Tell us all about it. Well, this is a democratic candidate for the United States Senate, running in the primary, the primary was last night, June 28th, which is also my 38th birthday, so quite a bit. It's also Elon Musk's birthday, by the way, June 28th is quite a day. And this is the crystal Matthews using racially charged language while encouraging illicit campaign tactics. She was caught on a, in a she was talking to someone inside of a jail. And it was a recorded line and a whistleblower provided this to us. Some of these quotes are pretty incendiary. This is the candidate. And by the way, she won last night. So now she's going to face Tim Scott. The South Carolina U.S. senator in the general election. She said, quote, where's my dope money, my duffel bag boys? Give me that dope money. Honestly, and I'm an N word at heart. I love black people. We need folks that can wear black at night and take down their effing yard signs. I mean, just this is just some of the most shocking things you'll over here. Now, just this week, yesterday, the house legislator in South Carolina has put together an ethics committee to investigate this woman who has just won last night the primary in South Carolina. And a lot more to say, but that's the
Fresh update on "musk" discussed on AP 24 Hour News
"Has extended the cuts due to power plant breakdowns a worker strike and corruption. I'm Karen Chammas. Tesla's sales fell this spring. I'm Ben Thomas, with a look at the electric vehicle maker's numbers. The company says it sold more than 254,000 electric cars and SUVs from April through June, but that's an 18% drop from the first three months of the year and well below the pace of the previous quarter. Supply chain issues and pandemic restrictions in China hobbled Tesla's production, its Shanghai factory had to temporarily close during the quarter. The erosion may put further pressure on Tesla's stock price, which is plunged 35% this year on Friday, the rest of the industry reported a 21% drop in sales during the second quarter, as the average price for vehicles skyrocketed to a record $45,844, according to JD power. I'm Ben Thomas. Tesla CEO Elon Musk has announced that he has met with Pope Francis. Musk made the statements on his Twitter accounts as his $44 billion bid to buy the platform still remains in limbo. Honored to meet pontifex yesterday Musk tweeted of the Friday afternoon audience, alongside a photo showing Musk Francis and four of Musk's teenage children, the Pope frequently meets with high profile figures in strictly private audiences that are held in a reception room of the Vatican hotel where he lives. A common talking point he uses when meeting with corporate CEOs is to appeal for them to use wealth and technology to help those most in need. I am Karen Chammas abortion providers and patients across the country have been struggling to navigate the evolving legal landscape around abortion laws and access. I'm Ben Thomas with the latest. Texas clinics have been turning away patients, rescheduling them, and now face canceling appointments again after the Texas Supreme Court blocked a lower court order late Friday that had given some confidence to resume abortions. The state had left an abortion ban on the books for the past 50 years walrus was in place, but a Houston judge on Tuesday reassured some clinics they could temporarily resume abortions up to 6 weeks into pregnancy. Texas attorney general Ken Paxton quickly asked the state Supreme Court stocked with non Republican justices to temporarily put that order on hold, which it did Friday night. In Florida, a law banning abortions after 15 weeks went into effect Friday. The day after a judge called it a violation of the state constitution and said he'd sign an order temporarily blocking it next week. While in Kentucky, a trigger law imposing a near total ban on the procedure took effect a week ago Friday, the same day the U.S. Supreme Court overturned roe versus wade, a judge blocked that law Thursday, meaning the state's only two abortion providers can resume seeing patients for now. I'm Ben Thomas. An industrial support ship operating in the South China Sea has sunk in a storm, with over two dozen crew members for dead. Rescue planes and helicopters were dispatched to the area with at least three crew members being brought to safety, emergency services footage showed one crew member being airlifted onto a rescue helicopter as wild waves slashed below them. The accident occurred about a 186 miles south of Hong Kong, Hong Kong's flying service said that crew members were negotiating difficulties brought on by severe tropical storm chaba. The storm was packing maximum winds of 68 mph. I'm Karen Chammas. Tourism is booming again in France. And so is COVID-19. I'm Ben Thomas with some details. New coronavirus cases have been rising in France nearly 93,000 per day by Johns Hopkins latest count and government data shows nearly 1000 patients hospitalized per day over the past two weeks
The Real Reason Companies are Taking a Stand on Abortion Rights
"Sign as Tucker Carlson beautifully put it last evening in his monologue, a woman is less likely to quickly respond to an email about some sort of internal issue happening in the company if she has to put her kids down to sleep, or she has to feed them dinner, or pick them up at soccer practice. Moms do not make as good of corporate loyalists as Goldman Sachs, Nike or Netflix would like them to be. Now, I still think they make phenomenal workers, but they need to be moms first. That's what actually matters for your society and your civilization. Now, one of the kind of circumstances we're seeing is a generation of millennial women that are in their late 20s and early 30s that have pursued their career first. I'll get married later. I'll find a boyfriend or a husband later in life. And that very well might work out for you. Who am I to say differently? But I am one to look at generational trends and trajectory that largely as more of a generalization than a rule that has created a deeply unhappy demographic of hyper successful corporate women. Of women that are in corporate life, I should say, but they're deeply unhappy. Why? It's because they've been told to just get the next paycheck, stick with cats and dogs, get an above Azure part above average apartment, live in a very expensive urban center in metropolis, focus on your career at all costs and do not whatever it takes. Get married or have children. Now, some women get fine fulfillment in that for the rest of their life, fine. Most do not. And so make no mistake that corporate America that is pushing forward these I'm going to pay you to go get an abortion. I'm going to pay you if I'm Amazon to go out of state or even Tesla deeply disappointed to hear that from Elon Musk's company. I'm going to pay you to go out of the state to go basically remain loyal to our company. It's not about abortion, it's about profit
Fresh update on "musk" discussed on AP 24 Hour News
"Teaching degrees, I can earn on my schedule, I choose WGU. His power cuts that have hit households and businesses across the country. Whilst power cuts are an ordinary occurrence in the African nation recently the cuts have become so severe that some residents and businesses are going without power for more than 9 hours a day. The prolonged cuts come in the winter months of the southern hemisphere when demand for power for light heat and cooking is at an all time high. Stay tuned power utility Eskom has extended the cuts due to power plant breakdowns a worker strike and corruption. I'm Karen chamas. Tesla's sales fell this spring. I'm Ben Thomas with a look at the electric vehicle maker's numbers. The company says it sold more than 254,000 electric cars and SUVs from April through June, but that's an 18% drop from the first three months of the year and well below the pace of the previous quarter. Supply chain issues and pandemic restrictions in China hobbled Tesla's production, its Shanghai factory had to temporarily close during the quarter. The erosion may put further pressure on Tesla's stock price, which is plunged 35% this year on Friday, the rest of the industry reported a 21% drop in sales during the second quarter, as the average price for vehicles skyrocketed to a record $45,844, according to JD power. I'm Ben Thomas. Tesla CEO Elon Musk has announced that he has met with Pope Francis. Musk made the statement on his Twitter account as his $44 billion bid to buy the platform still remains in limbo. Honored to meet pontifex yesterday Musk tweeted of the Friday afternoon audience. Alongside a photo showing mask Francis and four of Musk's teenage children, the Pope frequently meets with high profile figures in strictly private audiences that are held in a reception room of the Vatican hotel where he lives, a common talking point he uses when meeting with corporate CEOs is to appeal for them to use wealth and technology to help those most in need. I am Karen Chammas abortion providers and patients across the country have been struggling to navigate the evolving legal landscape around abortion laws and access. I'm Ben Thomas with the latest. Texas clinics have been turning away patients, rescheduling them, and now face canceling appointments again after the Texas Supreme Court blocked a lower court order late Friday that had given some confidence to resume abortions. The state had left an abortion ban on the books for the past 50 years walrus was in place, but a Houston judge on Tuesday reassured some clinics they could temporarily resume abortions up to 6 weeks into pregnancy. Texas attorney general Ken Paxton quickly asked the state Supreme Court stocked with non Republican justices to temporarily put that order on hold, which it did Friday night. In Florida, a law banning abortions after 15 weeks went into effect Friday. The day after a judge called it a violation of the state constitution and said he'd sign an order temporarily blocking it next week. While in Kentucky, a trigger law imposing a near total ban on the procedure took effect a week ago Friday, the same day the U.S. Supreme Court overturned roe versus wade, a judge blocked that law Thursday, meaning the state's only two abortion providers can resume seeing patients for now. I'm Ben Thomas. An industrial support ship operating in the South China Sea has sunk in a storm, with over two dozen crew members for dead. Rescue planes and helicopters were dispatched to the area with at least three crew members being brought to safety, emergency services footage showed one crew member being airlifted onto a rescue helicopter, as wild waves slashed below them. The accident occurred about a 186 miles south of Hong Kong, Hong Kong's flying service said that crew members were negotiating difficulties brought on by severe tropical storm chaba. The storm was packing maximum winds of 68 mph. I'm Karen Chammas. Tourism is booming again in France. And so is COVID-19. I'm Ben Thomas with some details. New coronavirus cases have been rising in France nearly 93,000 per day by Johns Hopkins latest count and government data shows nearly 1000 patients hospitalized per day over the past two weeks
Elon Musk Loses Son Over Pronoun Insult
"Even the world's richest man is getting hit with this bullshit too. He's getting the splatter too. Elon Musk's no good and spoiled son, Xavier. Just filed legal documents to not only recognize his gender identity as female, but also to say I'm cutting the ties with my father completely. But just the completely, I'm going off on, I don't want to be a Musk anymore. So Xavier will now be Vivian Jenna Wilson. That's what the documents say he wants. And she also added that she no longer wants to be related to my biological father in any way, shape or form. And all this is because Elon Musk openly tweeted a while back that he supports trans rights, but he hates the pronoun bullshit. He tweeted pronouns suck. And he's right. And that cost him his son. Can you believe this? Can you believe this?
Fresh update on "musk" discussed on Fox News Sunday
"Of the life and liberty indexes, they are behind the freedom 100 emerging market ETF, the first of its kind strategy using metrics of economic and personal freedom to help create an investment product. This ticker symbol is FR DM. Let's talk a little bit about what's been going on in China and in Russia, starting with China began cracking down on some of its tech leaders and technology companies a couple of years ago and it was really surprising to see a government really start bashing their own economic leaders. When you're looking at that from a distance, you have to be thinking, well, I'm glad I don't have these guys in my index. You know what? It's a bittersweet thing because it's good that we didn't have them in there, but it's terrible thing what's happening. Because being from China, I want China to succeed. I want them to be free. Eventually. And a lot of people, like myself, years ago, thought that we were on that trajectory, because China increased in their freedom levels a lot. In the last couple of decades, they went from abysmal policies under mal to not so bad policy that opened up economically. And had great success there. And their GDP grew tremendously. And that was very real growth. People lifting themselves up out of poverty and very powerful growth story. But now gross story of the past because they are. Why do you say that? Growth story of the past. You don't think there's a lot of growth in that. Exactly what you just mentioned. So the star sectors like tech are now being cracked down on. Xi Jinping has consolidated power and is continuing to. Dictator for life, right? Yeah, there's emperor for life. And yeah, there's no room for any descent. You saw what happened in Hong Kong, just the idea of any dissent. What about Jack Ma and you look at all the companies he's affiliated with? So it all started with ant financial. When that was scrapped and then Jack Ma disappeared after he said something that wasn't a kosher. Criticized, it was actually very, I think benign, what he said. But he criticized the government basically the way they handle the financial sector. And here in the United States, we do that every day. Look at us on Twitter. Constantly. Yeah. And so the fact that even that was enough to basically disappear him, him being a very visible persona in the Elon Musk of China. Exactly. And just a very character charismatic and well loved, well looked up to you guy. And when he disappeared, I think a lot of people realize, wow, if they could disappear your founder, you know, you might have some risks there that we didn't account for. And then following that all the other tech leaders started CEO started stepping down or pledging a ton of money for common prosperity, which is one of their new initiatives. And that money came from shareholder pockets. Right. And it's basically a bribe. It's not going to come and prosperity. It's just to keep the government happy. And so every company in China now is required to have a communist cell member as part of their company. All the funds are now required to have communist leader kind of it's like the old mob bosses with Freddy's going to show up and he's going to make sure everything's done right. It does have that feel to it. So this is very scary actually for someone who I root for China. I want them to succeed. I thought they were going to be much more successful at this point. So let's talk just for a moment about Russia. Obviously, they've become an anathema, given the invasion of Ukraine, but even before that, you didn't have Russia in the ETF, tell us the reasons why a country like a Putin led Russia just doesn't make it into a freedom index. Well, their freedom score from the think tanks was too low. And that's why how low is too low. So you have to be higher than your peers. And our algorithm assigns positive and negative weights. The negative weights are excluded. So they were how low were they is what I'm really getting to. So Russia ranks a 6.23 out of ten. As a comparison, Kuwait is 6.34 India is 6.39. And then you get into included countries, Philippines, 6.83 Thailand, 6.89, and so forth. These are the kind of borderline countries India is borderline sometimes. Who are the top three and the bottom three? So top three in emerging markets are Taiwan, top one, Chile, and South Korea currently. So South Korean Taiwan kind of really no longer emerging markets, right? You could say the same about China. Right. Okay. Well, that makes sense. And who are the bottom three? I can imagine. Yeah, so bottom three in emerging markets, Egypt, Saudi Arabia, and China. Saudi Arabia. Wow. Saudi Arabia ranks actually lower than China on the overall score. It's a 5.12. China is 5.57. So one 55 and one 50 rank out of 162 countries in the world. So it turns out that taking a
Elon Musk Just Had an Epic Meeting With Twitter Employees
"Right, let's turn to some fun stuff. Twitter, Twitter, Elon Musk, just drive and everybody over Twitter absolutely crazy. He had a meeting with employees today that he did over cell phone and he spoke to them as he promised he would and let's just say they're not too psyched. They're not rolling out the red carpet for Elon anytime soon. And he said some stuff that caused them to get very, very worried. In fact, one of the things he said is he would err on the side of allowing outrageous tweets. He's okay with outrageous tweets. This is a company that has worked very, very hard to sort of control what's out there if you would. And there are certain biases, shall we just say that I think have been reflected in how they manage that quote unquote control. So now you get this guy coming out of outer space, shall we say he did say it had never seen an alien, by the way. But anyway, he's coming in from we're going to say outer space, Texas, right? I think for a lot of Twitter employees, Texas might as well be outer space. And he suggesting things that would effectively turn the company on its head from everything that they've known, but I do believe one would be better for society and two will ultimately be better for the company as well. Because he wants to grow to a billion users. They've got roughly 229 million. I believe for their last filing, that's if they're all legit users, right? Because don't forget, that's another wrinkle in all of this. As Elon Musk threatens to get out of the deal as Elon Musk threatens to renegotiate the deal, I'll get to that in a second, but first back to this meeting, one of the issues that came up was whether or not employees would be able to work from home. Don't forget what he said to Tesla employees, like no way no how? And if you have a problem with that, come see me directly. Well, he told the Twitter employees that it would be considered for really exceptional employees. So apparently they were all conversing with each other on slack as this whole thing was going on and they were like, oh, you know, what is an exceptional employee and apparently sending memes and there was a lot of sort of hazing and teasing about the presentation. But look, he's talking about rocking their world. And that's never fun. Right? It's not fun for them, it's not fun for the establishment, but I think ultimately it could be incredibly healthy for our
Google's Shadow Operation to Kill Gendered Language With Allum Bokhari
"Let's just kind of talk more broadly about Google right now. And this is a phenomenal story you guys could check it out at the great breitbart dot com. We love breitbart dot com. By the way, a story right next to your story. I just have to say this. We'll talk about it. Miss Universe insists, not all people who menstruate are women. That's where we're at. This is a breitbart dot com story. Go ahead all them. Well, yeah, that's exactly the kind of thinking that's driving this Google's happenings at Google. There are no men and women. If you even use the word men or women or mother or boy, then you're somehow being non inclusive. That's the way they want. It's what we like. It's one of the great and Elon Musk pointed this out. I've said this for a while, but the fact Elon is saying it is hilarious, which is in the same sentence, they'll say, there's no such thing as a woman, but trans women are women. Oh really, so which is it? Or trans women, women? What is that word woman? And I just, I just I've plugged at so many times. Matt Walsh's just precise focus on this question of what is a woman is one of the most brilliant approaches to the trans calamity that I've seen in quite some time. But let's talk about kind of Google as a whole. Do you think that they have been kind of quiet in the last couple of months, at least this is not my beat. I know you're a reporter on this stuff. What have they been up to? What do we have to keep our eyes on when it comes to Google? There's still manipulating search results. Are they woke or than ever? Are you seeing any sort of kind of back to reality movement at Google? What's going on there? I actually don't see any back to reality inside Google. And I've always considered Google to be the worst of the Silicon Valley tech giants. Twitter arguably has a more work culture, but they have less because Twitter is a smaller company with a smaller user base to have less impact on the information we receive, whereas with Google, everyone uses Google. And Facebook, you know, they someday sometimes they sometimes try and throw a bone to the right. They don't always do what the left says. They're still extremely left wing. But Google suppressed right about news completely during the 2020 election. They took our visibility on certain central almost zero. You could even type in bright news headlines and they wouldn't show up in Google even when you're typing in the exact headline. So they clearly intervened in the 2020 election. And we even got a tape of their executives discussing doing that after the 2016 election. So they are the openly and brazenly imperial and elections. We've seen the manipulating search results related to referendums around the world. And nothing is stopping them from doing that again. So I think Google is definitely one we should continue watching. We should look for discrepancies in search results. Discrepancies and traffic from Google to the mainstream media as opposed to Google to conservative media.
Why the African-American Community Needs More Accountibility
"But I wish that celebrity black leaders would it's weird to me. Oprah, Jay-Z, Beyoncé, all these people who are billionaires. Why don't they push and spend all of their time challenging and helping black people in the black community? Because all this pointing to finger at the white man ain't never done what is that done for you? Nothing. You could tell these young people, hey man, pull your pants up. Hey, and don't walk around like that. You know, act like you got some sense. If you want people to treat you, right? Then you gotta act right. If you want people to treat you with respect, you need to respect yourself. If you want the white man to respect you, you need to respect your Why are you killing your brother? Why are you out here dogging at your brother? Why are you dogging your sister? You claim you love black women and you out here cheating on them and trying to do all kinds of stuff to them. No loyalty, leave them single with your kid. Don't go see the kid. Don't talk about white people if you ain't addressing that. And it's not just for black people, 'cause I know people always getting their feelings when I say stuff. You always talk about black people. You always tell me, I'm talking about people in general. I just so happened to be black my whole life. And also happened to grow up in a black community. So I don't know what white people be doing. I'm just giving my own personal experience from the things that I've seen.
The Case for More SROs in Our Schools
"When I was going to school, we had an SRO at the school. I mean, he was pretty much pointless because we needed more than one because we were in the hood. People were coming off the street fighting in the school and all he did was pepper spray. Now, do I believe that it was invaluable to have him there? Yes. Why? 'cause you know a cop is there. There's a cop there. So if the cop is there, then you're less likely to commit crimes. Why? Because if he see you, you go to jail. The problem with our society today, ladies and gentlemen, I've been saying this ever since I woke up from the Democrat plantation. It's that we don't want to hold black kids accountable. That's what it comes down to. If you are saying black kids are afraid of SROs. We went to an all black school in the SRO in our school was black. So black kids are afraid of SROs. Riddle me this Batman. If you don't have drugs, then what does a cop gonna do to you?
The Disconnect Between Democrats and Law Enforcement
"Them. My mother in law sent me an article about the border patrol agents that were mounted, they were all mounted horses, and they were using split reins, but you know, they were accused by these crazy liberal lunatics. They were accused and said that they were whipping people. Now we're going to talk about that later. Shout out to my mother in law for giving me that story. However, the Democrats, 27 Democrats voted against protecting the Supreme Court justices. Why do you say that, mister Tatum? After Brett Kavanaugh, a person literally showed up to his house to kill him. Okay, can you imagine this? A person showed up to a Supreme Court Justice house to kill him because they disagreed with the position that he may take on roe V wade. The stances that he may have taken if the gun law legislation was brought to the Supreme Court. Show her to kill him. And immediately, Republicans asked for there to be protection for Brett Kavanaugh. Now in the credit of Democrats and Republicans in a bipartisan bipartisan measure in the Senate, all 100 senators voted, yes, to have the Supreme Court Justice get more security 24 hours a day. They're immediate family is I'll read the details of it. But to get them more security, the beef of the security is so they will be protected.
Elon Musk Exposes the Left
"Elon Musk is the richest man in the world, I believe, at least he's rich man in America by far. Him and Jeff Bezos are very, you know, wealthy individuals. But Elon Musk, you know, people perceive him as a leftist. Before you ever became incredibly popular the way he is today, they perceived him to be a leftist and they perceived that he was on their side. And now that he's come out and exposed a lot of things that needed to be exposed within Twitter, he said he's going to buy Twitter for transparency and the freedom of speech. And now he's coming out saying that the Democrats are losing their way in this country. Now I know a lot of people like to say 'cause it sounds cute that the Democrat party didn't leave me, you know, I didn't leave the Democratic Party. They left me. I'm in the middle and the Democrat party moves, not it's not true. You were left and you moved a little bit further right and they moved further left.
Elon Musk Confirms He Voted Republican in Texas Primary Election
"Don't get cocky. But we had a really good night last night. Elon Musk voted Republican for the first time. Because you know they moved Tesla to Texas and I guess he's in this district district 34 in the Rio Grande valley. Billionaire Elon Musk confirmed his official political stance. Revealing he made the plunge. He walked away from the Democrats. And voted for Myra Flores, Myra Flores is making history in South Texas. Myra Flores. Pretty well clobbered Dan Sanchez, the Democrat, it could be the first time in over a hundred years. If she wins in the general, that the Democrat held seat flips red. And becomes Republican. Could be the first time in a hundred years in the Rio Grande valley.
Democrats Try to Scrub Big Tech
"Meanwhile, Democrats are trying to screw up big tech. Now we need some reforms in big tech, some protection of data. We need national security, cooperation from big tech. National security adviser Robert O'Brien went on Larry kudlow's show on Fox business yesterday talking about Amy Klobuchar's Bill. Amy Klobuchar's Bill is really bad. Because once again, if you let Democrats run anything, they will run it into the ground. Cut number 26. Well, look, the one thing standing in the way of Chinese domination of the world in Chinese Communist Party domination in the world is the American private sector and the bigger one of the big parts of that is tech. And so all you have to do is look at what Elon Musk did with Starlink at the outset of the Ukraine war keeping Ukraine connected, what YouTube did and getting zelensky's speeches out to the Russians. And we see why the Chinese don't like it. And they've said that they're going to surpass American tech, they're going to scale their companies. They're going to put trillions of dollars into it. They've been public about it. So they've got this China 25 policy to destroy America's tech sector. And now we've got these bills out to help them do it. It's pretty amazing. I want to give them access to our algorithms, access to our data. We should be banning Chinese companies and taking action like India did against Chinese big tech and instead we're coming after the American companies.
Dinesh D'Souza on the Rapid Impact of '2000 Mules'
"Expect I mean, look, you are a very successful author and documentarian. Did you expect it to have this impact so rapidly? Well, you know, I knew that this topic has haunted the American mind. But I also knew that the left has been so successful in squelching virtually any public discussion of this. I wasn't even sure I'd be able to tweet about it on Twitter. I got to say that the Elon Musk proposal on Twitter that has opened up Twitter and made Twitter into something at least close to a free speech platform has been critically important for this movie. Because this movie has not traveled on YouTube or on Facebook at all. Obviously it has helped also by getter becoming a strong platform by rumble and then also by the emergence of truth social. So it really shows we're building an alternative infrastructure to get our information out. And the left has been trying their best to launch fact check upon fact check up on fact check. I think they first unleashed their B team, which did a very clumsy job. Then they tried a more sophisticated attack, but quite honestly, they haven't drawn a single drop of blood off of the
White michigan Officer Indicted for Shooting a Black Man
"The officer in the I forget the guy's name, yola, viola, I'll get his name here in a second. Leola, the leola case, where the police officer pulled a guy over, he had a history of crime, stealing cars, Patrick leola. Still in cars doing all kind of crazy stuff, cop pulls them over. Instead of being a reasonable black man, you know, we were talking about the N word a little earlier. Instead of being a reasonable black man like myself and saying, you know what officer, I'm called, or you know what officer, here's my license registration. Of course he was driving suspended. Again, and then he gets out of car fight style officer for several minutes, takes his taser. And the officer shoots him, they charged him with second degree murder. Why would anybody be a police officer in today's world? Why? Just let them let them run. Let them kill each other. That's what I would do if I was a cop. No, no, let them run. No, no, let them run. Let them get in the car drive off at a high rate of speed, drive down the street run over somebody's kid, let them do it. Because if you stop them and you have to kill them because they're trying to kill you, you go to prison.
Biden's Poll Numbers Continue to Slide
"But let's talk a little bit about slo-mo Joe creepy Joe, geriatric Joe Biden who is presumably the president of the United States of America when I don't know who's running the country because he ain't running nothing. He should be in a pamper at a home somewhere reading goosebumps or something because he ain't doing nothing for the country. Now, if you look at his ratings and I find it interesting that let's put this together, ladies and gentlemen. If you look at his ratings from RealClearPolitics, shows it his approval rating is under 40%. Actually, it's 39.7, the lowest mark that he's been at with an average of 55% disapproval, Biden's approval ratings were lower than Donald Trump's approval ratings at this time during the Trump administration.
How Black Men Are Victims of Generational Trauma
"Young black men are getting murdered almost every single day in inner city's all around the country. And nobody cares. I care, you know, I wish there was more I can do. There was a group of men, I think they were called the Detroit 300 or something like that. I can't remember. I want to reach out to them to help donate to the calls that they have, which is me and going into the communities and preventing a lot of this violence from these young men who are not geared in the right direction. Let me say this. Some people may think in their minds and in their souls that somehow, and I know it's not y'all, I'm talking about the white liberal, that black people are inherently dangerous. That's not necessarily true. Although a lot of young black men are misled, why generational trauma, people don't understand the effects of generational trauma. And a lot of people want to go way back to slavery. Well, none of us were slaves and nobody even know a person who owned a slave. So let's start with modern generational trauma. When you have young black men selling dope to one another, creating zombies in the inner city communities, when you have mothers not allowing or having children with men who have not made a commitment to be in the household, that's generational trauma. I remember growing up and my cousin used to get beat with extension cords, hangers, all kinds of stuff. And my great cousins. That's generational trauma. When you can't even walk outside your house without getting robbed in afraid of getting gunned down by another black man, that's generational trauma.
FBI Drops Ball on Gymnists Case
"Now, how in the flying flip does our FBI spent an incredible amount of time pursuing January 6th and we all know some of them was some of the CIA I came 68. Let me not say one of these, we know that we had federal agents participating in a part of January 6th. And they can tell you what mothers are going to the city council meetings, they can bolster their investigatory skills going after conservatives, but how in the world did they drop the ball on this scenario where you have gymnasts who have been getting sexually assaulted by this creepy coach and they were told and informed about women who had been molested by him sexually assaulted by him and dozens more women were assaulted by him in over a year after the claims were brought to the FBI. Y'all came muster up enough, staffing to protect young women from a sexual predator manipulating young women in gymnastics, but somehow y'all are still talking about January 6th.
At Least 3 Dead, 1 Injured in Maryland Factory Shooting
"Breaking news coming out of Baltimore, Maryland. Smith Burke, smithburg, Maryland. A shooting three day at three injured and what they're calling a mass shooting at a manufacturing facility. Now I'm not the smartest man in the world, but if I was to make a guess at a manufacturing facility is probably a disgruntled employee. And I remember the days where they did not broadcast and publicize shootings of this nature in the ways in which they do it now. Now that the midterms are approaching us, they are trying to bolster the claim that there is a tremendous amount of mass shootings that's going on all because of Republicans.
"musk" Discussed on Business Wars Daily
"From wondery, I'm David Brown and this is business wars daily on this Monday, may 2nd. Now buckle up because you know we just had to bring you the latest on perhaps the strangest business war of late at the center of it, you guessed it, Twitter. Oh, and president Trump's platform truth social. And Elon Musk and $44 billion and Twitter bots and maybe even the entire concept of free speech. Let's back up though. A few weeks ago, we told you about must buying a roughly 9% share in the company and the Twitter board of directors in turn offering him a seat on the board. But Musk ultimately declined the seat and announced some grander intentions, buying the whole tarn company. Musk said he'd pay a little over $54 a share and offer he called his quote best and final. That would make the transaction worth $44 billion. Twitter's reaction was skeptical you could say. A day after Musk's announcement, the board adopted a limited duration shareholder rights plan, often called a poison pill. In a bid to protect the company from what some saw as a hostile takeover. The plan would allow shareholders to buy stock at a discount should Musk or another person, acquire more than a 15% stake in the company. With the poison pill in place, oh, and proof from Musk that he could actually finance the deal, Twitter, accepted it. If all goes to plan, Musk will officially take over the company and take it private. The news sent shockwaves through where else Twitter, especially because a flood of users started claiming that their follower counts were fluctuating. Namely, prominent left wing accounts claimed that they were losing a lot of followers and right-wing accounts were seemingly gaining them. It's unclear if this is because of a mass exodus of users following the announcement or simply because of a crackdown on bots, those pesky pseudo accounts that aren't run by actual people. Musk's game plan as the new owner. He says his goal is to protect free speech and dismantle the censorship that he claims Twitter has become known for, which may sound familiar if you've been following the story of another social platform, one run by a certain former president. We previously told you about the bumpy rollout of president Donald Trump's platform truth social since its rocky start things haven't looked great for the site, except for one particular day last week. The day after Twitter sealed the deal with Musk, Twitter surged to the top of the most downloaded app list. Well, not the tippy top. That distinction went to truth social. Musk pointed out in a tweet that truth social only existed because Twitter previously censored free speech. It wasn't necessarily a compliment noted The Washington Post, but it does signify that Musk sees Trump's platform as a competitor. However, lopsided the competition, the post reported. When it comes to Twitter and truth social, this town might only be big enough for one of those, will folks disgruntled with Twitter's so called censorship cozy up to its new owner, leaving truth social hurting more than it already is, will Trump himself be allowed back on Twitter once again. At this point, we seem to have more questions than answers. But one thing's for sure. This social platform shakeup is far from over. From wondering this is business wars daily. I'm your host David Brown written and produced by Jessica Joe Moscow. Our.
"musk" Discussed on Opening Arguments
"But he has the right to do that. So the only things that I've seen that have struck me as farcical when I saw them, you know, crowdsourcing from Twitter, what have you. But that is not the way to block this deal because of the provisions that are on Twitter side. So put all of that together, that's sort of how I evaluate it. The deal is not done. There is some risk priced into the markets that it does not complete it. I don't want to tell you that this is, you know, it's 50 50 or that it's likely to fall apart. The market certainly don't reflect that. The markets reflect reasonable level of confidence, but something shy of certainty. And we've kind of detailed the way in which, in particular, I would say, if the deal falls through, it will be because Elon Musk pulls out and not because Twitter pulls out. I think Twitter has agreed. They said, look, we have a fiduciary duty to our shareholders. And by the way, I want to break that down. 'cause I've mentioned this several times, and it's a very high minded sounding thing, but let me point out the cynical flip side of fiduciary duty to our shareholders to sit on the board of directors of a company typically requires you to be a large shareholder in the company. So when you say, our fiduciary duty is to maximize the return of the shares of everybody's servant for all of you shareholders. Yeah. And also, I owed 10% of the stock. So that fiduciary duty is to get the most money that they possibly can. Let's not overly romanticize lead stage capitalism here. But I think they've looked at the deal and said, yeah, they've come up with what goes all the way back to what you said at the beginning of episode 5 90, which is feels like an overpay feels like a lot of money. And so let's take it. And I recommend we take the offer. There's nothing that mandated that they had to accept and offer just by virtue of it being an offer. It's just that they all probably want money on the board. Again, business judgment rule. This is a tremendous way to wrap up the entire discussion. We started with, this is not a hostile takeover. This is a merger, a merger requires approval by the board of directors and approval by the shareholders. And so the board of directors is free to say when Elon Musk says, I'll give you 54 20 per share to say, you know what? We think in the next three years, we're going to get 60 bucks a share. We're going to say anything force the vote of the shareholders though? No, 'cause like, okay, so when the board so it's a ratchet. When the board says, yes, subject to a vote on the shareholders, but when the board says no, do we never get that far? The way in which you get there is if there are two different ways. The first is if the mismatch is sufficiently large. Let's say the board says Elon Musk, no, not at 54 20. And he goes, okay, how about 60? And they go, no, not at 60. And he says, all right, how about 80? And they say, no, not at 80. At that point, at some point that makes the hostile takeover, the better option. You say, really, the stock's trading at 35 right now. I'm pretty sure if I go to the shareholders and offer them $60 a share, I'm going to get 60% immediately, then I can fire all of you idiots, replace them with people that I appoint to the board, and that will make this a low ball price after that? This will be an entire separate episode on two steps. Yeah. But seriously, Google two step burgers and feel free that's separate OA homework. But yeah, you can do a hostile takeover, replace the board, and then tee up a second stage merger where you then freeze out acquire all of the or other means to acquire all of the rest of the shares. It's more complicated. I am grossly oversimplified. Please M and a lawyers don't at me for oversimplifying here. But feel free to write in if I've missed something, but I don't think I have. So that's the first kind of way of backstopping that. If the board is just being obstinate, you could go the hostile takeover wrap. You could also go the shareholder action route. There was a point at which, again, we've talked about the business judgment rule in which they could sue the board for not taking it. Yeah, they could sue the board for being unreasonable in getting a hundred, 200 cents on the dollar for their shares. Twice what any reasonable person would offer. Again, subject to all of the difficulties that we've described in that. But remember that Elon Musk put himself in that position became a substantial shareholder in Twitter. So he could initiate that lawsuit just on the basis of his own share. That's the next thing I was going to ask is, did he just goof or? Because from everything you've said, it doesn't sound like there's any reason why he needed to try to buy that 10% initially. Was that just like he was starting a hostile takeover and then he got kind of got caught and then went this alternate route. It's super hard to know, but if you ask me to speculate, I would say it is some combination of initiating the hostile takeover and then changing your mind or if you are just wanting to get on the board, I guess. It took to say the best way to have all of your options open is to be able to turn around when you've made the tender offer and say, well, look, I could just engage in a hostile takeover here. And to already have 10% of the shares of stock put you in a superior bargaining position when you're at the table. Plus, there's sort of the dastardly angle that again, I alluded to in the first episode, I'm pretty sure that he's possibly in trouble for this, but I don't know what kind of trouble he's in, he bought those shares at artificially low prices because people didn't know he was doing this whole thing. So he was able to accumulate 10% at pretty significantly lower prices than it's currently trading at. Yeah, absolutely. That is a thing where and again, you can point to failure to pay penalties in the past. I will point to real folks who have gone to real prison and done real time. For violations of ten B 5, if that is the case, that there is material non public information that was available at the time when Elon purchased those shares that was not disclosed. Look, that's the classic textbook case of how people go to prison. Billionaires for prison 2022. Billionaires for prison 2022, I'm a 100% behind that. And look, that one's real easy to figure out because if you buy up the shares at 30 and then you've made this offer and now you back out now that the shares are at 50. That's way in excess of the $1 billion. Interesting. And you've done that just by pump and dump. And that is one of the oldest schemes known to the stock market. What's the percentage chance you think this is pump and dump? I couldn't begin to speculate. But it's not zero..
"musk" Discussed on Opening Arguments
"This is where the money is coming. Gotcha. Okay. You can't just say eh, we'll let Elon figure out how to pay a story for a bill. You have to say exactly where you're going to get it from. So the first is he has to come up with $21 billion in cash at a lot of couch cushions. That's a lot of couch cushions. The way he owns a lot of couches though. The way in which Elon Musk and you just Google Elon Musk sells Tesla stock. Elon Musk is down to owning just 17% of Tesla stock. That's because every time he needs money, he sells Tesla stock. That's his best asset. Now, your financial advisers will tell you selling off your best asset to buy a worst at a worse asset is not a great financial move. Number one, he's got to come up with $21 billion in cash. And again, the equivalent of that is think about if you're buying a home, you had to come up with a down payment of half the homes purchase price. That's what he's doing. I could not do that. I could not do that. Next, he's got $13 billion in direct debt financing. And again, let's stick with the buying a home example. That's like the mortgage. So this is what banks and its multiple banks are willing to lend Elon Musk secured by Twitter shares themselves secured by the asset. And so it's exactly like the money you borrow from the bank to take the mortgage on your home. Even after it's private, it will still be secured by this by Twitter. Exactly right. By the shares of Twitter. And so just like banks are not in the business of owning homes. Banks are also not in the business of owning social media companies, but nevertheless, that is secured by the asset that is being purchased. And I've seen some lefty sources that are like, well, I don't get why he gets just he gets to secure it by the asset being purchased in the same way that when you buy a home, you get to secure by the asset being purchased. But that still leaves a pretty huge gap. And that gap is covered by a third kind of load. And that is 12 and a half kilometers. Range of just takes us Tesla paycheck to the payday loan place. Hey, can I get $20 billion? 25% interest a day. So kind of. This is 12 and a half $1 billion in margin loan financing. For X holdings three, that's a callback to the last episode. Remember, I told you there was a kid. X holdings company. Which is another empty Musk shell company that is secured by Elon Musk's Tesla stock. Now you might recall the Tesla stock is already going to be the source for the $21 billion to begin with. He also needs to pledge a sufficient amount of shares to cover the 12 and a half $1 billion margin loan financing gear. Now, how much does he have to pledge? This is actually a doubly complicated question because there is an amount that is disclosed in the merger document. And that is disclosed as a 20% loan to value. So really straightforward, that means at closing, he's got to be able to demonstrate to the bank that he has 62 and a half $1 billion in Tesla stock. Now, right now, he owns a 172.6 million shares. And it was trading at the time of this at the time of the deal at a $1000 a share. And notably, it is plummeted 20% in the last month. It has, and as Tesla stock plummets, two things happen. Number one, it jeopardizes one and three. It jeopardizes. He's got to sell more shares to come up with the $21 billion. And he's got to put up more shares to get the 12 and a half $1 billion in the gap financing. Also, you notice I called this margin loan financing. What that means is, as the stock itself is volatile, if the stock continues to drop after the date, you have to either put up more stock as collateral or pay more pay off the loan with actual hard cash in order to keep the loan to value the appropriate number. And sitting on top of all of that, those are the requirements of the bank. So the bank can issue a margin call if the price on Tesla stock continues to drop, and you've got to pay the bank money. Think about the plot of trading trading places. On top of all of that, are the rules that Elon Musk has to follow as a Tesla shareholder. Now think of it that for a second, quote unquote, has to follow, yeah. Again, I can tell you breaks these rules all the time though, right? Am I wrong about that? You are not wrong about that. But I know I'm not criticizing you. No, no, no, no, no. Criticism not taken because I don't listen to that. I have seen and Elon Musk has said, you know, I have contempt for the SEC and I'm not going to pay their fines. The difference between finds that were incurred in the past and the fines that would be incurred in connection with this deal are orders of magnitude. So way, way, way more serious, criminal penalties as a backstop for fraudulent disclosures and we read you the ten B 5 rules. And perhaps more importantly, and again, this is kind of terrifying, but if this goes south because of something that Elon Musk does, then you would have not just the SEC interested, but Twitter, a very, very valuable company with coat factory lawyers itching to tell Twitter to go Sue Elon Musk. So there are a number of things that kind of backstop against just kind of cavalierly being like the law doesn't apply to me here. And having an equally large corporation on the other side backed by civil lawsuits is sadly a potential deterrent. So now let's go back to Tesla's own rules, and this would add another group into the mix because if Elon Musk violates his fiduciary duties to his shareholders, and again, that's the 83% of people who own the rest of Tesla. You would get a very enterprising plaintiff's law firm to gather together shareholders to sue Elon Musk. For breach of fiduciary duty. Morgan stringer, get on it. Yeah, no. She's a little busy right now. But yeah. But in its last proxy statement, the last time the shareholders took a vote, Tesla set forth its policy on what board members can do with Tesla stock. At first, let's explain that the reason for that is, and you've alluded to this previously in this episode, what the largest shareholder does with respect to his holdings of that company, materially affects the price of the stock, right? When Elon Musk sells a bunch of Tesla stock, the price drops. When Elon Musk is over leveraged with respect to Tesla stock, then the risk is that that will default to the bank. And then the bank will engage in a forced sale of the stock, which again, just like banks don't want to own homes and operate social media companies. They don't want to own huge portfolios of Tesla stock. They force sell them off that winds up everybody knows, like the market just knows that those are sold at a discount..
"musk" Discussed on Today, Explained
"Questions are not cool. Next. So, you know, Elon Musk is someone who some people find it hypocritical that he's talking so much about free speech when he himself has been quite defensive and tried to shut down people who are critical of him or his companies. And what does this mean for how he might manage the public square? It's concerning to some folks, and you know he has said he publicly tweeted that I want my critics to be on Twitter because I do believe in free speech, but I think we do have a reason to doubt his commitment to that when his actions seem to say otherwise. That being said, I think if Elon Musk went around and just like shut down every single person who he had a beef with, Twitter would not be a successful company, right? You sort of need people disagreeing for Twitter to even work. So I don't think that we're going to see drastic change overnight. And maybe we should take comfort in the fact that if Elon Musk totally blows this, we've been through many social media platforms already and we can take comfort in the fact that there will likely always probably be another one. A next one, a cooler one, a better one. Yeah, absolutely..
"musk" Discussed on Today, Explained
"Think he thinks that effort has gone too far. And organizational structure wise, there was a board of directors and a CEO before, and now there's just going to be what Elon Musk at the top of this pyramid. Elon Musk will own it. It's his thing. He probably will have other investors come along with him. We don't know. Some banks are lending and money, but it's his. He's bought it. We don't know who he intends to have run the thing day to day. If he will do that, like he runs Tesla and SpaceX to his other big companies, or whether he's going to bring in someone to sort of run the thing day to day. I would assume he'll do that because it would seem wild for him to try to run three companies, day to day, but he's Elon Musk, so maybe that's the kind of thing he'll want to do. So he's paid in $44 billion. You say there's banks involved. Does that mean there is some sort of urgency to make this company consistently profitable? You know, he has made a point. He did this public interview during the takeover process because that's something Elon Musk would do and no one else would do. I don't care about the economics at all, which sounds like a great idea if you're the world's richest man. You can buy Twitter and not be concerned by money, but the truth is even the world's richest man has to be concerned about a $44 billion investment. He needs Twitter to at least be as profitable as it is right now. It's not very profitable, but it does turn a profit. He can't afford for it to become less valuable than it is already because at some point he will want to either take it public again, find someone else to sell it to. At a bare minimum he needs it to throw off profits just to help cover some of the interest on the debt he's taking on to buy this thing. So he can not run the business into the ground. Even though it is now his private play thing, he still has to sort of make it operate like a business. And I think that is one of the things that is fundamentally in the end going to restrain what he does with it. There's a lot of like, what is he going to do with Twitter? Is he going to blow it up? Is he going to fundamentally remake it? You know, I think even though he might intend to do that once he gets into it and says, I don't know that there's a better way to run it more or less than the way it's running now, which is it's a free service and it's supported by ads. Maybe there's some stuff you can throw on one way or the other, but it needs to run like a business that makes money. What do you think he might do to make it more profitable? What are the, what's on the table? I think the most obvious thing is he'll do right away is cut the staff. That's the standard mergers and acquisitions playbook. You take a company from somebody and you say, this would work better if there were less people here. And you fire a bunch of them. And there's sort of a new conventional wisdom that'll happen. If you look at the tweets from fellow travelers like Mark andreessen, another Silicon Valley billionaire who's very interested in free speech and seems to have a lot of interest in Elon Musk buying Twitter. He suggested that the good big companies are overstaffed by two X the bad big companies are overstaffed by four X or more. In terms of generating more revenue, I've got no idea. And I don't think he does either. Twitter for years has been trying to make itself a more advertising friendly business. They have advertising revenue. They did about $5 billion of it last year. It's just compared to a Google or a Facebook, it's just a non entity. It's way too tiny to generate much more interest. Are there other products and services that Twitter could sell? Twitter recently has been experimenting with consumer subscription services or something called Twitter blue. They're selling for like three or $5 a month. It's a service for Twitter, super users. I'm a huge user of Twitter. It's my most used social media app and the one thing we wanted to see was an edit tweet button. That's what we're looking for in Twitter blue. We didn't expect we have to be paying for such a service, but Twitter didn't even give us that. For $4, you can basically get a cup of coffee at Starbucks. Is it worth a cup of coffee for some premium features? Maybe. Maybe for you. Not for me. I talked to a former Twitter executive the other day. You said, maybe they'll throw in like a pay to tweet plan where if you're a power user like Elon and you get tons of value out of Twitter, but don't pay anything for it. Maybe you should have to pay. But this is all theory. We know that the most likely thing he'll do is try to cut costs. How he'll try to generate additional revenue. We're just guessing. There's been a lot of talk this week and last week about Twitter being the public square. Elon Musk himself has said it. Former Twitter CEO Jack Dorsey said Twitter quote wants to be a public good this week when he sort of endorsed Elon Musk's purchase of Twitter. And a lot of people seem to be upset that the richest man in the world can buy this so called public square. Doesn't seem so public, does it? Is there any question as to the legality of this transaction? No. Some of the flags that you would normally get to throw with a deal like this. Oh, there'll be an antitrust issue. There's no antitrust issue here. He's not consolidating social networks. He's just a guy who wants to buy Twitter. It's a publicly traded company. He made an offer. The owners of Twitter hemmed and hod for a little bit tried to find another buyer who would offer them more. And he's the only one out there. And if he's the only one out there, you kind of got to take the offer. Is this just a reminder for people that Twitter isn't a public square? It's a public company. Yes, it's a public company, which means it's actually fundamentally in the end, it has to answer to its shareholders. I've heard people floating in the past the idea of, you know, making Twitter an actual sort of public entity, making it putting in a private trust or something where you'd say, look, we're no longer trying to operate as a business. We think this should effectively be run as a nonprofit. There's a bunch of reasons why that hasn't happened. But it's not like people haven't floated that idea, but it is a for profit public company. And this is one of the things that can happen, especially by the way, Twitter basically made this more feasible when it went public that is one of the reasons why Elon Musk could come in and buy this thing. Which is to say it's not a public company anymore. It won't be in about 6 months. So in about 6 months, we may see more ads. We may see less. We may see another subscription model. He might get rid of that. But one thing we can be positive of is there will be less content moderation on this platform. Yeah, he's been as clear as he can be about that one that he thinks there should be more speech, not less. And basically that these layers of moderation, these policies, these teams, the Twitter has last however many years, he wants to strip a lot of that out..
"musk" Discussed on TIME's Top Stories
"We're back, far right groups celebrate Elon Musk's Twitter takeover by Vera Bergen ruin. While much of the online world reacted with surprise and skepticism when news broke of Elon Musk's stunning, $44 billion acquisition of Twitter on Monday, some corners of the Internet broke out in jubilation. Today is a massive cause for celebration. One user posted on the messaging.
"musk" Discussed on The Media Show
"This is the media show from BBC Radio four. This week, we're going to talk about three grand plans. First of all, there's Elon Musk. Twitter has become kind of the de facto town square. So it's just really important that people have the both the reality and the perception that they are able to speak freely within the bounds of the law. Since he said that, Elon Musk has had his offer to buy Twitter accepted. It's a story with any number of consequences for media, for tech, for all of us who use Twitter. But if you don't use it and you're thinking, what's this got to do with me? We'll get into that too. The next plan is one that's come to a shuddering halt. This was only a few weeks ago. CNN is an icon of the cable and satellite age. But now cable is competing with streaming. And there isn't a streaming subscription service for TV news in the United States. So if you were creating a news product from scratch in 2022, how would you build it? That's one of the questions. One of the starting points for CNN plus. It's the biggest bet any company has made in the news streaming world. That CNN's Brian stelter, millions had been spent on a new streaming service, CNN plus, but the plug was pulled within weeks of the launch, and while that was stopping, Rupert Murdoch's talk TV was starting, with a familiar face at the center of it. Welcome to viewers around the world. I'm Piers Morgan and I'm uncensored. That's Nelson Mandela might have said it's been a long walk to freedom of speech, but now I'm back with a nightly forum for fabulous guests feel as debate and yes, some fun. Talk TV, CNN plus, Twitter, all three in different ways, connect to the broader challenge of working out how we'll all choose to learn about and discuss the world we live in..
"musk" Discussed on Money Rehab with Nicole Lapin
"The product with new features making the algorithms open-source to increase trust, defeating the spam bots and authenticating all humans. More specifically, newsweek reports that Musk plans on introducing an edit button that will allow people to change the composition of their tweets after publishing. This feels like a recipe for disaster. Sure, this would help folks like me that sometimes type too fast and publish tweets within occasional typo, but it seems like editing typos isn't what this feature will be used for. This new feature would mean that someone who tweets and endorsement of something controversial can then go back and edit that tweet and then claim the endorsement never happened. Or an online troll can harass someone and then edit their insults to compliments, which would drive me absolutely nuts. To me, this feature would be the ultimate opportunity for gaslighting online bullying and avoiding accountability. FAQ number three will Trump be allowed back on Twitter. Some people have speculated that if Musk is looking to prove that Twitter is entering this new chapter with less restrictions on free speech, he may invite Trump back on the platform, which would have huge ramifications for the upcoming 2024 presidential election in the U.S.. However, Trump told Fox News that he will not be returning to the Twitter. Instead, he said he will stay on truth..
"musk" Discussed on Verifiable Podcast
"Which anybody can say something that offends someone and isn't going to be shadow banned for doing something like that. So he also had his free speech agenda stuff like that. And before we knew it, we found out that Elon Musk became the highest sheer holder in Twitter. So he bought 9.4% of Twitter's take and he became the highest shareholder and due to that the stock of Twitter went up because yeah. And mosque is like the biggest name on Twitter like he's the most active big account which over 82 to maybe 5 million fertilized on Twitter. And he's inside the top demos followed accounts on Twitter. So he always get interaction on a daily basis. So he bought take onto it in Twitter and after a week or so he was supposed to join the board of Twitter and he decided that, okay, there's board is not my kind of people that can't really deal with this kind of people that with the main problem why Twitter is not growing why Twitter is just a stagnant business day since making good profit. So he was like, okay, he's not going to join the board and because the board is full of people who don't or are not. Who doesn't support his agenda. So he was like, okay, he ain't going to join the board. He just wants to he decided one day to just wake up and say he wants to own 100% of Twitter. So he started and gave Twitter offer to buy 100% of the company and take Twitter private. So he gave an offer of $43 billion and 54 point.
"musk" Discussed on Verifiable Podcast
"Today we're not going to be talking about NFTs or we're going to be talking about Elon Musk. Welcome to verifiable podcast. So let me go ahead and verify the podcast. Yes, it's been a while and. You want to do this podcast paper. Just do some questions of me trying to get back on this podcast. We're back live. So today I'm going to be talking about Elon Musk. Elon Musk. Yeah, I understand he wants to feed you of the Chinese and he came out of a Tesla and I was like so he his hand on the Tesla and like I am elam. Yeah so welcome to the final podcast today we're going to be talking about Elon Musk and Twitter how the whole team has been going throughout and I've been trying to see how I'm really meant to be doing on this podcast. And from everything I found out that okay, since I can do one of the main reasons I have them through religion and episode was because like I was planning on getting people on to speak as a guest speakers were since that won't be possible, this is how it's going to be for a while now. So yeah. Always you just want to give you guys news updates on a daily basis, some top new staff on the space, like how today opens the XYZ NFT aggregate Tor and yeah, that's not a great talking about and talking about Elon Musk. So last month or earlier this month as a most but 9 point 2% of 4% of tweeters talk ill started from when he started AKA much more interest in Twitter and his whole idea of social media, which has.
"musk" Discussed on Bloomberg Radio New York
"Would receive a number of shares equal to twice that exercise price So in this case the exercise price is $210 They would receive shares worth $420 And that would result in massive dilution to the acquiring person because he doesn't get to buy shares at that discount So the effect of all this is that it prevents Elon Musk from exceeding that 15% threshold or even announcing a tender offer to acquire shares that would result in him exceeding that threshold without border approval And that's the key thing So the practical impact of all this is that all roads now lead through the Twitter board This only goes into effect if Musk Musk now has about 9% if he reaches 15% That's right They receive the rights including ironically Musk Musk also receives these rights But if Musk or anyone else for that matter crosses that 15% threshold then everybody gets to exercise those rights to buy those steeply discounted shares Other than the person who crossed that 15% threshold A poison pill makes acquiring a company more expensive Do we know how much more expensive it would be for Musk So again it results in massive dilution to him I haven't done the math But I could tell you that in the history of poison pills and this stretches back about 40 years I'm only aware of one case There may have been one or two others but one documented case in which someone deliberately crossed the threshold without board approval So it does serve as a deterrent Do you know when it has been used effectively let's say in the last ten years Are there any big possible takeovers that we would know about I will say this that poison pills have fallen out of favor It's received enormous criticism The main criticisms of poison pills are that they entrench the board and management They could prevent an offer at a premium They could limit a stockholder's ability to increase its ownership as a means to influence or challenge management That by the way could be what Musk either is planning on doing or what he may end up doing If she can't pull off an acquisition of the entire company he would sort of be a player in that he would be perhaps not the largest stockholder but currently he's the second largest stockholder And with that position of influence he can put pressure on management The sense is that the greater ownership position he has the greater influence you can exert on management but if because of this plan he will not be able to surpass that 15% threshold and the criticism is that sometimes management needs that outside criticism Is this the reason do you think that he refused the seat on the board because then he couldn't raise his stake above close to 15% Yeah so interestingly the condition to him accepting the seed when it was offered to him originally by Twitter was that he couldn't exceed 14.9% which is pretty much the threshold that is built into the poison pill Why Elon Musk didn't accept the board seat is anyone's guess It's difficult to always understand exactly what motivates Elon Musk But I think for starters he probably did not want to limit himself to 14.9% ownership The second thing is that the directorship was probably viewed by him as a double edged sword First of all as a board member he would owe fiduciary duties to the company and all stockholders that would mean that going forward he would have to justify his vision in terms of shareholder value as opposed to his personal ideology So for example when he speaks about the role of Twitter that it should play in promoting free speech he's got to couch it in terms of what's in the best interest of the company in the stockholder So he's got to say something to the effect of that free speech is good for the company's bottom line as opposed to free speech is necessary for a functioning democracy Coming up next I'm going to continue this conversation with oolong cape in so how likely is it that Musk will take over Twitter You're listening to Bloomberg Breaking news We travel to see what's around the.
"musk" Discussed on The Atlas Obscura Podcast
"Should set the record straight. The name muskox is really misleading. So Musk oxen, total misnomer, have no Musk are not ox. That's Mark Austin, he's the executive director of the Musk ox farm. It's the nonprofit that these Musk ox live at and it's one of the few places in the world attempting to raise domesticated muskox. And the animals got their name because they do look a bit like oxen. But in reality, they're not related to auxin at all. They're closer to sort of gigantic mountain goats or enormous sheep. The farm currently has a herd of about 80 muskox, which they raised for their fancy wool called caveat. And the process of domesticating one of the world's few remaining ice age megafauna. This animal that is both very, very big and very, very strong. Isn't easy. You know, for an animal to go from wild to floppy ears and spots, hallmarks of domestication could take hundreds and hundreds of years. So we don't fool ourselves into thinking that this is going to happen any time overnight. So we acknowledge that we are in process and that is our mission as stated coming from the beginning and that's what we can that's why we continue to work with you today. Mark says it took thousands of years for cows to become truly domesticated. So, the muskox is at the start of a long journey. But because its wool is so valuable, the far's founder had this idea that Musk ox might eventually be a good way for rural Alaskan families to help support themselves. People living in these coastal areas, rich in culture, abundance of food, but the world was changing and that there was a need to bring in cash dollars that were not abundant in the far north. So how do you go about domesticating a thousand pound Musk ox? You start when they're much, much smaller. So when they are born in the first 12 hours, 24 hours, we do very little to interact. We will vaccinate as their born. We will then move them from a pen where they were born into kind of a maternity pen. Our farm staff will be then in there from the very beginning. They'll be just cleaning up, picking up poop after them. So there's a general presence. Of just having firm staff around them. They also give all of the muskox, individual names, and each year there's a theme. We've got Cayenne pepper, Ginger, sage, poppy, roux, paprika, and that's it for Spice Girls. The farm also has muskox named for iditarod checkpoints for national parks for trees for gemstones. You get the idea. Marx says each muskox also has its own personality. It'd be like going out on the playground and saying, what's like to hang out with Billy or what's it like to hang out with Bobby? And you know they're all gonna be different. There's some that are incredibly friendly and curious. There's some that are just as soon be left alone. And then, of course, there are the troublemakers. I came back from an airport run a couple years ago and there was I pulled it into the parking lot here and I saw eyes reflecting on the top of a hill and somewhere they should never have been. And so one of them had found a way to get up over a fence and go and walk about and she lured about four over 5 of her friends to go with her. And as soon as I came back, there's like, dad's home, get back. So they'll do that, they'll climb fences, they'll, you know, just like stand up, they'll, you know, they're constantly running and playing with, you know, hitting. We got balls all kinds of enrichment things out there for the play with. Part of the reason the farm staff works so hard to get the animals familiar with them is so that when it comes time to harvest their wool, the muskox are used to being around people and being handled by them. And the muskox naturally shed their wool, their caveat. Each year. And that means that unlike sheep, they don't need to be shared. If left alone it'll just fall off. So in the spring, you'll start noticing it, you know, either maybe a little patch will start to rise to the surface of the guard here. That's when the farm staff brings the muskox into the barn plies them with their barley and corn treats and starts brushing. And what we've found best is a steel toothed hair pick, Afro pick. It allows us to kind of penetrate below the guard here, which is always gonna stay on. Get underneath that give you layer that's starting to shed naturally and just kind of get underneath it. You start working it up and we can get an entire sheet of this off a Musk ox when it's really releasing really nicely. And the caveat is valuable stuff. It's not quite worth its weight in gold, but it's worth a fair bit, and an average adult muskox might produce somewhere around four pounds of kvyat each season. And we lose about 50% in processing. So that gets you at about $6400 per animal if you turn it all into garments. And we're able to sell all those. Even so, the farm doesn't actually cover the cost of caring for all the animals. If we were not a nonprofit, we wouldn't be able to do what we do. It's expensive. If we didn't have education, if we didn't have retail, if we didn't have donors, we wouldn't be operating. New can visit the muskox farm, like Mark mentioned, there is a whole educational program. There are tours and of course there is a gift shop where you can go. And get your own Kivu it. Musk ox hair, sweater. What could be a more fashion forward move? For this winter. Our podcast is a co production of Alice obscura and witness docs. This episode was produced by baudelaire Zeus. The production team includes Doug baldinger, Chris naka. Camille Stanley. Willis writer Arnold. Sarah Wyman, manolo Morales, Gianna Palmer, Tracy Samuelson. John delore, Peter Clowney. Our technical director is Casey holford. This episode was mixed by loose Fleming. Our theme and credit music is by Sam tindall, and I'm Dylan Thursday, wishing you all.
"musk" Discussed on Insight Out with Billy Samoa
"Friend and when you're friends with someone like you lawn your exactly like them. They don't seem like an alien to anymore. And when that starts to happen your mind starts to shift and you start to think i could be just like you know insane. The word would be ability if we just had seventy lawns. Not like seven thousand. Because i don't even. I can't even imagine that will left us chris del. Hey imagine this world. Beverly give that right like i don't know how to do that. I'll just lead lead to devious. But just seven elon musk's one in every billion because right now it's one every seven billion easily nealon. What if we at seven more matching in saying that would be like. This is what i'm excited this the stuff that gets me going in my mom's basement as i'm talking to you. It's not like you go into some bardy being alone. Whatever going to club like it's this idea idea that if there was an eel on each of those ideas like imagine elon. Musk is the subjects the most been. What if there's two elon. Musk one who is just working on space and one. Who's just working on tesla one who was just working on boring company etc. Imagine how fast society would move. It'll be crazy at that's the future. I'm excited about well. That's who i wanna talk about. Next is what is the future vision of elon. Musk i agree. Don't put them on a pedestal. Don't assume you can't do the unthinkable. you can't do the impossible you can't do others are telling you is unachievable. That's the word you can and you need to believe that you can. Hopefully you got some value from this session. If you did let us know. Send us a note. Tell us what you took away. Let us know what you liked and let us know what you want us to talk about. We're still experimenting. We're still just having conversations talking about people that fascinated as in talking about what they've done. What insights they have. What contributions they've made in how they've made them and this is a great example of looking at somebody like an e lan and really understanding. What about him has helped to lead to truly an astonishing level of success. So we hope you enjoyed this one and until next time please do make it a great one. We'll talk to you guys soon..
"musk" Discussed on Business Casual
"Product or even just developing a new idea. So today we're sharing an episode exploring the question of how to think about running businesses with mental models from one of the greatest business people in history elon. Musk if that sounds like your jam. Keep listening for to mental models that elon. Musk uses to run his businesses. And how you can use them to welcome back to founders journal my personal audio diary where i give you the business builder the tools you need to think better in order to build better whether that's building business a team or new product. Let's hop into it so as you may or may not know last week was ilan mosques. Fiftieth birthday and in celebration of that. I took time to go down the rabbit hole to better understand how the edison about our generation thinks. So i'm not going to give the elon. musk biography. We've all heard of him. He's an eccentric entrepreneur. Who's worth a hundred sixty billion dollars. C- of tesla spacex founder of neuro link boring company former. Ceo pay pal and while these are accurate ways to describe yuan. I believe that for us to learn from one of the greatest entrepreneurs of our time. The edison of our era. We need to study how he thinks versus study the products of his thinking. If that makes sense so in honor of ilan's fiftieth birthday today. I'm talking about the mind of elon. Musk and specifically. I'm going to break down two of the most important lenses through which ilan looks at the world. The first lens is something. I call some product thinking some product thinking is a mindset of collaborative societal progress over individual success. It's this idea of abundance over constraints. Let's compare that to zero sum thinking whereas zero sum thinking is a belief that your gain is my loss some product. Thinking is a belief that your gain or my gain. Both of our gains is all of society's gain so let's take that a step further. Some of you may have heard of zero-sum thinking and others may have not then there's one thing beyond zero something which is positive thinking and positive sum thinking is a belief that you winning doesn't mean that i'm losing and vice versa. So zero sum thinking is the idea that when we're competing were competing over a fixed pie. That goes to you or me. Positive sum thinking is about us. Competing actually leads to a larger pie that we each get to participate and have a piece of and so where does some product thinking. Come in here. Well the way. I look at it as some product. Thinking is positive some thinking on steroids. This mindset doesn't just accept a larger pie through competition it doesn't take a passive role. It actively invites competition in order to accelerate the pie. Getting bigger for all of us and that is exactly how elon musk thinks but to understand how. Some product thinking manifests in his work. We need to understand what motivates him. And if you have ever watched an elon. Musk interview or read his biography. By ashley vance. It becomes very clear very quickly..
"musk" Discussed on Reset
"And down. This is recode's ronnie. Mola she been reading lot of tweets from elon. Musk and has been paying attention to how it's been moving markets running and truly blessed. Hi adam so go back to that for twenty tweet from twenty eighteen. Tell me a little bit more about the trouble. Daddy lennon too. So the brought must to court Basically because they're saying this is true you didn't have funding secured you misled. Investors sent the stock price up. You know it was nowhere near four twenty at the time. So they ended up settling out of court. He'd have to admit any wrongdoing. But he lost his chairmanship tesla. And musk find a total of twenty million dollars each and he was supposed to run any like market-moving tweets by the company's lawyers kind of the settlement was to sort of get a hold of of this wild twitter. And we've been seeing the tweets alana's sort of famous for being wild on twitter but recently we learned that you didn't really follow the judge's orders. In the case of running his tweets by lawyer right right even after paying forty million dollars was against chairmanship turns out based on this correspondence that the wall street journal through a request that he not running tweets by his lawyers. And the sec's upset that he's not actually following the agreement in the settlement so one of the tweets was about solar reproduction and the other one was him saying that the the stock was too high which actually sent the stock down about ten percent to be clear you on. Musk is still the. Ceo of tesla. Right he is still the. Ceo tesla in a ceo saying that your company's stock prices too high. Seems like a bad idea. Yeah i mean. He just has such an effect on the stock price. And it's like so obvious. Every time he sends a tweet you can chart out. You know how much he sends the tesla's stock upper down. Has anything happened to. Egon tweets by the sec added. The short answer is no There's a lot of back and forth between the sec. And his lawyers lawyers are saying he doesn't really need to run those tweets by them because their opinion Sec tried to hold him in contempt of court for an earlier tweet but the judge was like you guys deal with this and they did by saying okay. Employers have to go re tweets but only when they have to do with production refinances. But that doesn't seem to have stopped him here. I mean sec's only recourse. Would be to try to go back to a federal judge. See if the hold him in contempt or relitigate this whole thing you know get rid of the settlement and try to try to get him in trouble for that original for twenty tweet. So that's sort of one issue with tweets where the government can't get involved but lately we've been seeing. ilan moved. The price of bitcoin crypto currencies. What's happening there. Yeah he he's like not he's not an upper of to move the prices tesla. He's also now tweeting. A lot about cryptocurrencies in particular point and bitcoin. And every time he does so he sends the stock up or down in case of bitcoin. He's been tweeting a lot about the environmental impacts of it. He saying that they're no longer accepting bitcoin as payments every time he doesn't mean like that The price of bitcoin goes down. There's also been tweeting. Positively about those point. Sending the price does point up saying that he's going to work with doj coin developers to make it about air cryptocurrency key clear when alon said that tesla was going to start accepting bitcoin that sent the price of bitcoin way up and then he said they were gonna stop in that senate right back down. Doesn't outface at it made sense because it was weird that he said we're gonna accept bitcoin which is like notoriously bad for the environment. Tesla is eight electric car company. And then you know. He reneged on. That was like okay. No we're not going to accept it because it's bad for the environment some ways he's just like playing around. It seems it seems like he's playing around and there's not a teacher on the playground to stop him. Is that right because his parents bought the playground so they owe him okay right or i guess case a cryptocurrency like who is going to stop him. The crypto police right the the thing with currencies. It's not clear who is any. Us government body regulates at. It's it's unregulated. So he has a lot less to worry about with his crypto tweets than he does with ones for tesla so it sounds like we can expect this to keep happening is the last nike tweeted a medium and some text emoji about breaking up with bitcoin. Stock down something like five percents this morning so it doesn't seem like he's gonna stop he's having fun with it tweet. A lot tweets to express myself some people use their. He's not even just tweeting. About tesla and crypto. He's also like testing the waters with baby. Shark we did that. How much he loves baby. Sharpen how much it crushes that or something and that sent stock price of sohn's publisher up something like ten percent of my head. Why does this matter there. Are there consequences. It's easy for us to talk and joke about and certainly easy for yuan to but why should we pay attention to his tweets of crypto. This matter is because it's become much more mainstream So many more institutional investors and then just regular retail investors. You know people like you and me are investing in stuff like bitcoin and the price is all over the place. He's making people lose or gain lots of money with a single tweet. One of my coworkers said something. Like i lose two hundred bucks every time elon. Musk tweets about bitcoin so here we have someone who is often the richest person in the world tweeting and making others either richer reporter right it might be insubstantial to him but he is definitely messing with other people's wealth. There's also the issue of tesla having a lot of bitcoin so you can say that sort of unfair they were able to turn a profit last quarter. I leave because of selling bitcoin so he's able to make money on.
"musk" Discussed on KFI AM 640
"With you on musk when he was at a a tech conference and someone asked him about the legendary and he said more or less. that he thought it was more likely and unlikely you know everybody on stage and the audience is kinda laughing and I can't believe it because. up to this point. the simulation theory was fearless was you know then usual you know you'd see it being talked about on reddit thread stand by you know video gamers but you know he's one of the. for most tech giants no on the planet so him taking it seriously that's a lot but an awful lot in the end of every tree as they traced it back and the way that he was craning. his belief in simulation Terry was actually a respond there was a philosopher in Oxford philosopher named strong. who wrote a paper in two thousand three you know so this is. years after the matrix you know nineteen ninety nine is the matrix cell which is you know what really mainstreamed the idea for a lot of people with their first introduction to it although it's kind interesting that in like the late nineties. there were two of those movies in other words there there there was the matrix but there was also the thirteenth floor there's also dark city there's also probably my favorite existence the. number film..
"musk" Discussed on KTRH
"He's with me for this hour. Yeah. I'll talk for a second. So you can clear your throat turn your way. From the microphone. I wonder if frogs get people in their throat when they have a cold. S A D thought. So. The newsletter this week headline bucking the trend of lower car sales. Overall, large luxury cars sales, actually increased in the year two thousand eighteen compared to twenty seventeen enquiring minds wanna go wanna know. What's up with that? Just simply the economy doing better. And when you get into the upper income families, my experiences, they typically will have one SUV and wants to Dan. And so when you look at the leaders from last year Mercedes s class, Lexus ls saw huge increase with when they redid that car BMW seven series Porsche, Panama. I mean, these are expensive cars. I guess the cheapest car on there's probably the Kia k nine hundred which three hundred fifty four people bought last year. So who knows? Do that in a month? But. You know, I think it is just a sign of the economy. It really do. So you mentioned in in the story that tesla dozen reports sales. No. But I do have an Elon Musk update for the week. Oh, yeah. This week Elon Musk accomplish something that not easy to do. He drove the price of his stock down and tesla fifteen percent in one day by saying, you know, I think I'm going to lay off about seven thousand people. Well, at least he's disclosing things now. Yes. Last time. He tried some shenanigans it cost him a million dollars and a fine. So Andy got demoted from being I guess he was chairman down to see you not gonna make any.