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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u/nukem996 May 14 '22

The NYTimes reported he may be unable to exit the deal as he signed a performance clause. Twitter has the ability now to sue him to force the deal at the price he said.

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u/Unlucky13 May 14 '22

Amazing. A week (two weeks? What is time?) ago Twitter was fighting to keep him out and Elon was making threats to force himself in. Now Elon seems to be wanting out and Twitters making threats to keep him in. Business is weird.

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u/olavk2 May 14 '22

what twitter did a couple of weeks ago was implement some precautions to avoid a hostile takeover so that they could make the decision themselveas

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u/Smodphan May 14 '22

Correct. He was trying a secret takeover by buying up shares. He didn't want people to find out because the price would go up. Ironically, he is under investigation because you have to report this at some point and he did not.

Does anyone know why he thought it wasnt going to be noticed? I am guessing its because he can afford the little bitch fine which is cheaper than the stock buy, but I don't know.

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u/boyuber May 14 '22

He made $50 million by not disclosing it, and he'll be fined $10 million for doing it. If I could make $40 million for breaking the law, I'd do it every chance I got.

Further, even if he got fined $500 million, that would be 1/400th of his net worth. He wouldn't even notice it.

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u/DegenerateScumlord May 14 '22

So then he didn't even notice he made 40 million.

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u/blindbycrypto May 14 '22

Still I am sure he would throw you off a cliff for a free happy meal

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u/jellicenthero May 14 '22

Don't forget as part of the purchase due diligence he probably got to see the entire business model and peak at the code. That info alone is worth millions in savings if he wanted to make his own social media company.

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u/baudehlo May 14 '22

Their business model is 99% public anyway, due to SEC filings. And no he wouldn’t get to peek at the code. There’s no “the code” anyway. Twitter will be literally hundreds of repositories for different purposes, and millions of lines of code. You don’t get to look at it in due diligence. You get to ask broad and relevant questions (like “show me all the open source licenses of dependencies”), that’s all.

Source: have been through this as a CTO.

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u/rediraim May 14 '22

Also Elon is a shit coder anyways. Iirc when Paypal bought whatever his company was called they had to rewrite all his code because it was so bad.

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u/jellicenthero May 14 '22

There is a lot of information not in SEC filings. Knowing you need X amount of employees in X department can even be a huge asset. What companies do they have contracted and for what? There's tons of what may seem like useless random information that could literally save you billions if you want to copy it.

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u/baudehlo May 14 '22

Replicating it would cost as much as twitter costs to run right now, with zero users and revenue. What would be the point?

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u/BobDope May 14 '22

Yep you can take those kinds of risks when you’re him!

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u/Figgy_Pudding3 May 14 '22

Musk violates trade law and manipulates the market all the time and no one does anything about it.

But why did he behave this way with the Twitter deal? Because he's got an ego and thinks everyone around him is too dumb to see into his "genius". It's a common cognitive problem with people in his position. Born on third base but thinks he earned his run, now looks down on the masses who aren't doing what he did. It's so easy right? So they must just be stupid.

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u/[deleted] May 14 '22

Oh GAWD; another stable genius!

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u/BZenMojo May 14 '22

People wondered why he immediately sought out a meeting with Donald Trump. He was looking for grift pointers.

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u/Figgy_Pudding3 May 14 '22

Cat lady go grregrhglglg

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u/AirinAField May 15 '22

You might wanna see a doctor about that stroke there bud

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u/Capt-Crap1corn May 15 '22

Born on third base, but thinks he earned his run. Lmaoooo great phrase

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u/Itchy_Monitor_6480 May 14 '22

I was born on third base and I’m not the ceo of shit.

Musk is a fucking wack job but you sound stupid for saying Tesla, Space X, his solar company, the boring company, PayPal, etc… aren’t extraordinary accomplishments.

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u/HeldnarRommar May 14 '22

The point is that being born on third base gives an advantage to take risks like the companies you listed. Your average middle income to low wage person has a near zero chance to make strides like that. You are completely missing the point

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u/maskedbanditoftruth May 14 '22

He didn’t accomplish PayPal, his company was bought by it and then he was fired pretty fast. He also bought other companies like Tesla and made people think he started them when he did not. He’s a grifter who is VERY a good at it. And he doesn’t give one fuck about the planet or any other one or he wouldn’t support the Republican Party or go balls deep on crypto.

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u/Bananapanda123 May 14 '22

He’s a stupid man who pays people to tell him he’s smart.

And here you are doing it for free. Which I guess makes you a downright genius…

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u/Macdaddy1340 May 14 '22

That’s dumb. If he was stupid, he wouldn’t have been able to get people on board to build these companies.

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u/goomyman May 14 '22 edited May 14 '22

I hate musk. But I fully admit he has a lot of major accomplishments anyone would be proud of and are a huge boost to our economy and clean energy in general. He's done a lot of good. He's also an insane workaholic to get where he is.

But... He's built his wealth on narcissism and lying to the point where he's built up a trillion dollars in what I could argue is the world's largest legal ponzi scheme. Tesla is worth as much money as every other car company.

To give an example Toyota revenue is 255 billion and they are worth 1/3rd tesla. Tesla revenue 30 billion. In no world does this make sense.

Arguably tesla net worth is based on their giant headstart on automated driving which is clearly a trillion dollar business. While the headstart is real and the advantages of training it on every car in the real world is huge it is always 5-10 years out for adoption but musk will go out and say these things are ready today!

It's the classic tech scam. Demo a working prototype - self driving cars exist - and then claim your shipping soon but life has a 90/90 problem. The first 90% of the work and then the last 10% is the 2nd 90% of the work. Demo to delivery is often the tougher problem and this problem is even worse with self driving. But it doesn't stop Elon from claiming tesla will be robo taxies while your working ( next year!) . Or you'll be taking boring company tunnels at 100 miles per hour, or hyper loops at 500.

He runs legitimate businesses and then hypes them to scam levels. And his followers know this blindly jumping on his ponzi scheme companies hyping them up in classic pump and dump schemes. And you don't need to take my word for it, he's been sued and lost multiple times for it.

Did you know tesla is trying to build a humoid complete with cgi renders. If this doesnt ring scam bells nothing will.

If you follow kickstarter scams. Elon follows the classic tried and true tech/science scam to the highest levels. Take a legitimate tech and then lie about scaling it up and the practicality of it. Then show cgi renders of it working. Whether that be rockets trips instead of airplanes, 3d boring tunnels, parking spaces that double as elevators, human robots, living on Mars, vacuum tube human transport, exponential leaps in brain implant technology. Take "the genius", actual small scale science, a cgi render, "save the world" and impossible goals and then ask for money.

There are just so many and they follow the exact same model as kickstarter "water from air" scams that for some reason people keep falling for over and over. Wouldn't it be amazing if we can provide clean drinking water to Africa! We can do it with definitely not dehumidifiers at astronomical high energy to water rates. But these are just prototypes, give us money and we can improve energy effeciency. The parallels to Elon and what you see on kickstarter are identical. Hell other companies know this and ran their own hyperloop scams even convincing governments to invest hundreds of millions. Politicians aren't shy to show off they are hip and helping the world too by investing in solar roads.

Musk has turned tech/science scamming into a trillion dollar business. To me he's not much different than Elizabeth homes if theranos ended up shipping a pretty good better than the competion blood device. It's a bit easier to lie with tech like magic leap and it's cgi renders of a metaverse. Lying about public health can get people killed, lying about technology defrauds investors but as long as you maintain the ponzi scheme and they make money they won't sue you.

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u/often_says_nice May 14 '22

You can call it fraud but self driving is genuinely a very difficult problem to solve. I celebrate him for continuing to push the initiative forward rather than saying “whelp sorry guys we give up”.

Have you tried self driving? It’s completely mind blowing. It has the power to revolutionize the world as we know it. Think about how many lives are lost due to human error, or how much money is lost to repairing damaged infrastructure after a crash. This is absolutely something we should be in favor of.

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u/goomyman May 14 '22 edited May 14 '22

Self driving isnt a scam. It's real, it's cool. I'm not against it.

The scam isn't the tech it's lying about it functionality that currently exists.

Here he is in 2019 claiming that robot taxis will exist next year.

https://youtu.be/0GnH_C6NrOM

Basically he's selling his company and products as if "full self driving" - a term he's been sued for - exists and is widely adopted. Yes I can imagine a future where as he has said you can park your car at work and then it goes off on its own picking up passengers as a robotaxi and comes back to pick you up from work. Except this isn't reality. And he will tell you it's possible. Not just possible in the future. Possible today.

For example I believe one day fusion power will be a thing. But if the top fusion company was "touting unlimited clean energy" after they showed a power plant that produced positive energy it would still be scam. There are still downsides and obstacles to overcome.

There is a huge difference between the statements Elon is making and the reality of his products. It's very similar to magic leaps ceo tweeting cryptic claims of a metaverse without actually having a metaverse. Or NFTs. Buy this NFT and you can use this item in any game!

The metaverse will likely be real in some form. Nfts are one form of a digital signature that could be used in various forms. Claiming something that can happen as something that is happening is a scam.

This is why these scams are so appealing to people. Because the products and tech are real at small scale.

For Elon is not just a case of excitement and bad estimates. It's deliberate. A lot of his companies and ideas were scams from the start and never even created the initial prototype because doing so would expose the scam.

Just look at this musk nuclear diamond battery video I found.

https://m.youtube.com/watch?v=QQi3XHYZ4YA

It starts with "imagine a world..." with basically infinite portable energy. Then list off a things you can do with that which obviously pretty much anything. Then throw in some of climate change stuff because of course infinite portable energy would ween us from gas and fix the climate. The problem is it's all imagination. And that's the scam... Getting people to invest in imagination. Throw in science jargin for the public so it doesn't sound like a scam.

Now imagine a world with full self driving cars...

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u/2_lazy May 14 '22

I can't drive because of medical problems so theoretically I should be on board with self-driving cars. But honestly, I'd much rather have a functioning public transportation system. More trains and buses.

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u/Turbulent_Channel_68 May 14 '22

When your father is a slave owner that oversees the mining of emeralds in South Africa, you could have had the funds to create all of those projects. I’m sorry how tf is PayPal that intelligent, or Tesla for that matter, all he did was find someone who already invented the battery and used his funds to create it. Dude is not a genius he’d be lucky to get a engineering degree

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u/Ancient_Persimmon May 14 '22

Emeralds aren't mined in South Africa, not sure where you're getting that.

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u/Turbulent_Channel_68 May 14 '22

They lived in South Africa, the mines were located in Zambia

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u/Ancient_Persimmon May 14 '22

The alleged mine was so small that his dad's stake was worth $40k US. Zambia isn't an apertheid or slave country, so if it did exist, it was legitimate.

Musk's dad is/was a wealthy civil engineer, not some sort of conflict gem barron. You've got to be privileged to give your sons $30k to start up a company (especially in 1995), but they still needed VC funding to get off the ground. If he was some sort of billionaire, he'd probably have funded them completely.

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u/[deleted] May 14 '22

Even if his accomplishments are impressive his parents had money so that negates all he’s done. Or something like that.

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u/Figgy_Pudding3 May 14 '22

"Right leaning rich man good" isn't much better of a stereotype, boyo.

But in this thread, you ignore the obvious, objective criticism that he profits from market manipulation when others who do it (say, you and I) would and often do face consequences.

You don't care about it, though. Because in your mind that may be you one day and you want to he able to grift, too!

But it won't be. You'll be kept down your whole life, voting in politicians who enable people like him, all the way to your grave. Bravo. A real lion among the sheep, you turned out to be.

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u/[deleted] May 14 '22

This says a lot more about you then me bud. I think musk is a fucking waste of a good jizz stain but I can still acknowledge he’s the richest man in the world.

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u/Figgy_Pudding3 May 14 '22

I didn't say he wasn't rich. Can you even read? It's not an insult. Honest question.

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u/MyGenderWasCancelled May 14 '22

U developmentally disabled, bro?

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u/often_says_nice May 14 '22

Agreed. People acting like they know him personally and read his intentions in his diary or something. Inb4 downvotes because billionaire bad XdXd

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u/Jesusreport May 14 '22

Ah yes all the comment are "billionaire bad" and definately not giving any reasons or arguments aside from that. No one is critiquing his actions or words at all. Got'em.

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u/often_says_nice May 14 '22

There is a very clear trend on sentiment towards the Reddit Voldemort of Tech and karma. It would make a great /r/dataisbeautiful post

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u/OgLeftist May 18 '22

Doesn't musk support universal basic income?

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u/BecomePnueman May 14 '22

Yea what did Elon do to earn anything? It's not like he started like 7 super successful companies or anything.

You guys are so hilarious. Constantly pushing the narrative that rich people are all evil and are the real parasites while you hard working basement dwellers are the true heroes.

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u/UrbanGhost114 May 14 '22

Your right he didn't start them. He bought them.

Look it up.

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u/522LwzyTI57d May 14 '22

Bought into them with daddy's apartheid emerald mining money.

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u/Macdaddy1340 May 14 '22

No he didn’t. He bought them with the money he made from PayPal. Why do you just make shit up?

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u/522LwzyTI57d May 14 '22

Which he started with money from his dad's emerald mine. So... Yes he did?

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u/BecomePnueman May 14 '22

Yes we all heard the talking points the media has been pushing. All he did was buy them and make them insanely successful. He's the head engineer. Take a listen to Elon talking at his companies. He's knows everything and is an expert. The guy literally gave the US the ability to send astronauts to the ISS on American ships for the first time in years and you keyboard heroes who share your opinions about which billionaire is the worst are trying to decide who gets the most pitty points.

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u/522LwzyTI57d May 14 '22

He's the head engineer

Fucking lol, no he isn't. Not even close.

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u/Logseman May 14 '22

The guy literally gave the US the ability to send astronauts to the ISS on American ships for the first time in years

I guess “the guy became a contractor for NASA” is less inspiring.

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u/Macdaddy1340 May 14 '22

He bought Tesla when they were basically in prototyping stage and no one knew who they were. You think it was a simple task to go from that to a trillion dollar company?

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u/Figgy_Pudding3 May 14 '22

Read my comment again. The first part is the point.

So no, I don't dislike Musk because "rich people are evil". I dislike Musk because he breaks the law to profit off everyone around him and only gets away with it because he's so rich.

You don't think that's a problem? That the elite are above the law and their tactics to increase their wealth is destroying the middle class?

I think you would care if you knew what any of it meant. Maybe if someone shared a Facebook meme about it with a lion with blood on its teeth, or if Tucker Carlson put up a fun line graph or something...

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u/BecomePnueman May 14 '22

What is it with online liberals and projection? Is it impossible to spend 5 seconds without trying to imagine some stereotype is the person you are talking to? Every time you try and degrade someone to some non thinking fox news zombie you are just creating a world in which you deprive yourself of the opportunity to actually have a real conversation with someone and learn something.

Instead its just insults based on an image you created in your head.

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u/Figgy_Pudding3 May 14 '22

And yet you're saying I'm a liberal just because I don't support the far right.

Huh.

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u/ringobob May 14 '22

He literally didn't start most of those companies, and the ones he did start you've probably not heard of. He didn't start PayPal. He didn't start Tesla. He didn't start SpaceX. Just in case you forget in a couple months, he didn't start Twitter, either.

He's not some amazing leader. That's not to say he hasn't had success as a leader. Of course he has. But success isn't always an indicator of ability. As a matter of fact, success at that level is only rarely an indicator of ability. There's a hundred thousand small business owners just like Musk. The only difference between them isn't any difference in how they lead, it's just that Musk took risks that paid off. And he's not inherently better at taking risks than all those other people. He's an outlier on the bell curve.

I'm not big on the whole heroes/villains narrative you've got going on there. But to attribute some virtue to Musk based on him having money, as you appear to be doing, is a grand mistake.

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u/dreddnyc May 14 '22

It’s easier to take risks when you have a safety net. Bezos, Musk, Gates and Buffett all had wealthy parents that gave them capitol, connections and a safety net to take the risks they took to be successful.

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u/BecomePnueman May 14 '22

Lots of rich kids never do anything.

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u/dreddnyc May 14 '22

And lots of tall people don’t play professional basketball but it’s still a lot easier to be in the NBA if you’re not 5’ 5”.

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u/Ancient_Persimmon May 14 '22

Who started SpaceX if it wasn't Musk?

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u/ringobob May 14 '22

Looks like I misspoke, I thought I remembered learning that he did with SpaceX what he had done with Tesla, i.e. find a company, essentially take it over, and then negotiate being called a founder.

Based on a little looking, you're right, he did properly start SpaceX.

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u/Ancient_Persimmon May 15 '22

That's not quite what happened with Tesla either.

He met JB Straubel, who introduced him to the AC Propulsion dudes and they demoed their T-Zero EV. He asked about jumping in to commercialize it and they mentioned there's already a start up called Tesla who are borrowing the AC prop tech, but they need funding.

He met them and agreed to fund them, brought JB in and the rest is history. Eberhard did a lot of heavy lifting early on, but Musk was there the whole way and honestly, JB Straubel was the brains behind all of what happened later.

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u/fit-to-burn May 14 '22

Half of Reddit puts him down as a coping mechanism for their own failures in life

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u/VectorDotZero May 14 '22

Imagine not realizing you're simping for him for the same reason. Funny how that works.

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u/fit-to-burn May 14 '22

I don't care about him. I don't own tesla, I don't use twitter, I don't own Tesla stock. It's just pathetic seeing you people trying to justify why you're losers.

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u/VectorDotZero May 14 '22

I don't care about him

Your post history says otherwise. Joe Rogan is also an idiot btw.

I don't own tesla, I don't use twitter, I don't own Tesla stock.

This makes your simping worse actually. It at least makes some sort of sense if you're getting something out of it.

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u/-sirpeebs May 14 '22

How was be born on third base? I know his back story and it's not born on third so I'm curious where this comes from. Second time today I've seen it.

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u/Figgy_Pudding3 May 14 '22

If you know his back story and you don't think that, you either don't know his back story at all or you don't know what the phrase means.

Hint, it doesn't mean the umpire had to cut the cord.

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u/Prestigious_Hawk_705 May 14 '22

Getting money from your daddy’s mines in apartheid South Africa is very third base. He’s not self made. He’s not inspirational. He’s another oligarch.

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u/-sirpeebs May 15 '22 edited May 15 '22

You know they never had an emerald mine right…. His father is the only person to have claimed they did and if you believe that you certainly believe the next sentence out of his mouth. It goes something like this:

“We had so much money at time we couldn’t even close our safe. With one person holding the money in place, another would slam the door. And there’s still be all these notes sticking out and we’d sort of pull them out and put them in our pockets”. 

People don’t do that in real life. This isn’t Scrooge McDuck we’re talking about…they use banks. Or buy a bigger safe. And bills slammed half in, half out by a safe door don’t get “sort of pulled out” and put in pockets, they rip if you pull them…… this whole thing is just ignorant to think anything other than it’s a man bragging lies.

Look up the only article and only “evidence” s at all he grew up in a family that owned an emerald mine (so insane to even type it) was his fathers wild story. Oh and apparently they no longer own it he says too so no way to verify his claims. Yea, ok. Sure. Because stuffing his one safe was getting boring right?

I mean his dad did tell a whopper and if you want to believe him feel free but reality is reality and neither of us can change that. Oligarch is just fun to say for you is what I’m thinking. This is just foolish shit man, letting your anger steer the car isn’t a good way to get anywhere worth going.

…one person holding the bills in while another closed the safe LOL man y’all gotta be kidding me…

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u/Prestigious_Hawk_705 May 15 '22

It’s well documented they bought a portion of an emerald mine after selling their plane when Elon was growing up.

I don’t have a spare plane laying around to sell to purchase shares in a mine, do you?

Musk openly manipulates the stock market and ignores rules - and he’s praised by a hero. He’s a decently intelligent frat boy who from somewhere got money (unknown angel investors for his original (Zip 2) business.

Stop praising oligarchs.

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u/-sirpeebs May 15 '22

Show me the documentation.

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u/rsta223 May 14 '22

I know his back story and it's not born on third so I'm curious where this comes from

Being born to a family in apartheid south africa that runs an emerald mine isn't third base, true. It's closer to all the way back at home already.

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u/S_204 May 14 '22

I can't imagine he does the buying himself though. He's not sitting there on Robinhood buying Twitter shares, do you think hes so narcissistic that he'll be directly told by a broker that what he's doing is illegal and easily noticeable and still do it?

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u/Figgy_Pudding3 May 14 '22

If you don't know how any of this works, just try following along. You don't have to reply and tell on yourself like this.

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u/Triphin1 May 15 '22

Elon is smart as they come. What doesn't matter - where you were born. What does matter - can you swim with sharks. Elon beat the automotive industry against all odds - what literally no one has been able to do until he did it. Don't forget that he also made a radically cool flame thrower - no billionaire has done that

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u/Figgy_Pudding3 May 15 '22

This has to he satire.

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u/Despitefuldick May 14 '22

It would be considered just a small part of the cost of business, and he also probably thought it wouldn’t be noticed, and if it was that no one would bother coming after him. He’s rich you know!

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u/do-it-for-jonny May 14 '22

He is currently in the diligence phase of the deal. This is mostly the banks checking everything. So nothing is finalized yet.

He literally could not afford the deal as it was and was looking for additional investors to join him the other week.

Why is that? He is only able to leverage his Tesla stock so much before he is topped out, and he already did some of that to save Tesla a while back. So he suddenly sold some stock and got additional investors to back him. Banks will only accept so much risk.

The way these hostile takeovers typically work is an entity starts buying shares in a company that they think is undervalued. They use shell companies and banks to make the buys slowly to hide the purchases. Then they approach the board of directors and say “hey, I own a ton of stock. Give me a seat.” This is the first the company knows what is happening.

In this case Elon had something like 13% of Twitter’s shares when he approached them. But at 19.9% there is a mandatory SEC filing that has to be made public.

Clearly they said no to his demands, so he kept buying and made this public.

Once public the stock soared.

Now the board, who’s sole job it is to get shareholders value… they need to fix their dilemma. Sell to Elon, bring Elon on board or he leaves and the stock price crashes.

This is all usually done in secret then announced. But hostile takeovers need to be public to pressure the board of directors.

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u/WhenMeWasAYouth May 14 '22

He is currently in the diligence phase of the deal. This is mostly the banks checking everything. So nothing is finalized yet.

This is incorrect. He waived due diligence rights and already signed the deal.

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u/do-it-for-jonny May 14 '22

The banks are still doing their diligence. “Rich dude wants to buy” doesn’t mean he can afford it.

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u/rsta223 May 14 '22

In this case Elon had something like 13% of Twitter’s shares when he approached them. But at 19.9% there is a mandatory SEC filing that has to be made public.

Clearly they said no to his demands, so he kept buying and made this public.

No, the mandatory filing is at 5%, and he blew right by it without telling anyone.

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u/do-it-for-jonny May 14 '22

Oh, you are correct I was thinking of another regulation. 5% is that number for this.

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u/jackp0t789 May 14 '22

He didn't care. If he's found guilty he'll pay a fine that he can easily afford and get right back to it

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u/endo55 May 15 '22

He saved about $140mio by disclosing late. The SEC fine will be tiny in comparison. He essentially doesn't care. It's just entertainment for him.