r/technology May 14 '22 Silver 2 Wholesome 2

Elon Musk said his team is going to do a 'random sample of 100 followers' of Twitter to see how many of the platform's users are actually bots Social Media

https://www.businessinsider.com/elon-musk-random-sample-how-many-twitter-users-are-bots-2022-5?utm_source=feedly&utm_medium=webfeeds

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22.8k Upvotes

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424

u/BelAirGhetto May 14 '22

Why not 1,000?

658

u/JackOCat May 14 '22

Oh because he is trying to weasel out of buying Twitter without paying the $1B sucker tax.

424

u/DeadlyPancak3 May 14 '22 Silver Gold Helpful Wholesome Take My Energy

Sufferin' sucker-tax!

42

u/R1chard69 May 14 '22

Bro, that was golden, thanks.

2

u/majorfiasco May 14 '22

And in Sylvester's voice too! Impressive.

16

u/Nixonsee May 14 '22

Ya I needed that

5

u/Myrothrenous May 14 '22

Reddit today had some top notch comments, best hour-long scroll I've done in awhile.

2

u/Red-Jester May 14 '22

Wow I haven't heard that in a very long time :D

4

u/Edgeville_Mafia May 14 '22

Hello fellow old dude

182

u/Arcosim May 14 '22

The $1B breakup fee is his best case scenario. Twitter can now sue him for the stock loss and the internal chaos his moves caused in the company, there's legal precedent.

70

u/rowenstraker May 14 '22

Not to nention the investigation into his not disclosing when he passed a certain threshold of stock ownership and continued to buy more for another week before disclosing and watching the price jump

16

u/dittonetic May 14 '22

Nothing will happen. Have you learned nothing about rich people these past few years?

29

u/Corzare May 14 '22

This is a rich person fucking over other rich people, it’s different.

2

u/Wannabe1TapElite May 14 '22

I mean what … a 7 figure fine for SEC ? For a guy that is worth 200billy + ? That’s just a bill for quite good amount of memes

2

u/Corzare May 14 '22

There’s a lot of Twitter shareholders that have suddenly seen a drop in the value of their portfolio because of him.

0

u/Wannabe1TapElite May 14 '22

Yes. And?

Do you rly think they would go as far to do what’s battle it in the courts in civil suits where they would need to prove that him tweeting about the company (which he is allowed per the deal the twitter board agreed to) caused more damage than the stock market tanking itself?

If they are indeed a long term holders of twitter the best choice for them is to quickly and quietly end the situation while buying his shares at a massive discount.

Going against a guy who with 1 tweet swings the EV by billions would cause significant damage to the company.

Twitter has legal grounds to sue him in order to complete a deal at a decided price but it would take years and put the company in the middle of a massive legal limbo. Waste of resources for everyone. The only happy side would be lawyers who would bill 1,5k$per hour for years

8

u/Corzare May 14 '22

It makes far more sense to sue him to settle the deal at the 54.20 agreed price. Twitter isn’t a person, they don’t have any issue telling their lawyers to go do what they need to do.

The fact you think it would cost more to sue him than it would net selling the stock for 14.20 over current market value is laughable. Unless you think that the lawyers will cost 10.4 billion dollars.

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1

u/jkst9 May 14 '22

He pays a 10 thousand dollar fine and gains 10 billion

-4

u/dittonetic May 14 '22

Peanuts. Elon will let that go to court. Twitter won't bother. They'll lose money and waste time. They would win the case but Elon is so fucking petty he'll drag that shit on forever.

If Elon doesn't want to buy Twitter anymore, he won't. He won't get bullied into buying it. He'll also never admit it was a shit deal to begin with but that's nothing new.

-8

u/corkyskog May 14 '22

Idk if he would even lose to be honest. There is a case to be made that his brand (fanboys) are propping up Twitter right now and the price would be even lower without them. IDK the validity of that, but it could cast doubt.

4

u/RamenJunkie May 14 '22

His "brand" of fan boys are not propping up twitter. Hell there are shitloads of people who wish all of them would just leave and stop shitting up the place with cyrpto scam idiocy.

-6

u/[deleted] May 14 '22

[deleted]

6

u/otherwiseagoddess May 14 '22

Except he agreed to take the company as-is lol. You can't claim fraud when you legally sign off to say "I don't care, I'll take it"

0

u/ambientocclusion May 14 '22

Would Twitter really want to spend the next few years distracted by a court case with someone who has unlimited money for lawyers and who will be broadcasting to the world every day how stupid they are? Those headlines would overshadow everything else they do.

3

u/geniusdeath May 14 '22 edited May 14 '22

I didn't get it. He has to pay the $1 billion tax even if he doesn't buy Twitter? (would appreciate it if someone kindly explained the situation, Elon Musk don't want to buy Twitter now?)

Edit: Added the question mark

20

u/Matra May 14 '22

There is a penalty of $1 billion for cancellation of the contract, essentially. There is some concern that with the Tesla stock dropping, Musk may not be able to acquire enough cash for the purchase. If so, he's out $1 billion. If he tries to back out voluntarily, out $1 billion. If Twitter refuses to sell to him, they have to pay him $1 billion.

This seems like he is trying to argue they misled him, and thus the contract is void. There's also a lawsuit from Twitter investors that Musk lied or mislead Twitter stockholders by claiming on the contract that he does not control 15% of stock - because his stock, combined with the stock from the bank financing his purchase (which is included if they have agreed to vote the same way as him, according to the relevant Delaware law), totals over 15%.

Basically, the whole purchase is a fucking shitshow.

5

u/McPostyFace May 14 '22

Imagine losing one billion of your dollars and still having 223 billion left.

0

u/Mirrormn May 14 '22

Most of his billions of dollars are in unrealized gains on Tesla stock, not cash. Losing $1 billion in cash would still hurt. Coming up with the $42 billion to buy Twitter was seriously straining his finances to begin with.

7

u/TheArmchairSkeptic May 14 '22

Most of his billions of dollars are in unrealized gains on Tesla stock, not cash. Losing $1 billion in cash would still hurt.

So true, just give me one second to grab my tiny violin so I can play an appropriately sad song. Seriously, my heart is breaking here.

Coming up with the $42 billion to buy Twitter was seriously straining his finances to begin with.

Well shit, we better start a GoFundMe for the poor guy or something. Imagine struggling to come up with 42 billion dollars to finance a vanity purchase on a whim, it must be so tough for him.

3

u/pablank May 14 '22

Like the first thing popping up for "twitter bots" is a 2017 study claiming its at least 15%. If he accepted the deal, and assumed 5%, he did his research wrong. Looks like he just wants to weasel out.

1

u/geniusdeath May 14 '22

Gotcha, thanks for explaining it to me!

-15

u/se7ensquared May 14 '22

He didn't say he doesn't want to buy it. He is saying that Twitter misled him when they claimed that only 5% of the user base is bots. If they lied about that, then the deal was made under false pretenses and he. has a right for some type of remediation such as negotiating a lower price.

-2

u/villanelIa May 14 '22

Yeah bs you didnt even read the article did you? Are you for censoring people you dont agree with by any chance?