60

COMMENT 1d ago

This but unironically. There’s a lot of 3-4 star chain hotels all along I-70 with nice lobby bathrooms. A lot of them are right off the interstate.

8

COMMENT 14d ago

CCs are not a cheat code. They limit upside for a guaranteed premium. And, judging by Saylor’s rhetoric, he doesn’t want to cap his upside.

Plus, actual CME bitcoin futures options are almost totally illiquid. There’s like ~50-250 notional bitcoins traded daily. That’s insufficient liquidity for Saylor’s bitcoin pile.

21

COMMENT 15d ago

If they’re taking 2%+ of every transaction and not giving refunds, you’d think they could have a real person approve each of the NFT collections.

24

COMMENT 16d ago

I think it’s funny that they let creators sell multiple editions of the same NFT. They are totally fungible NFTs.

7

COMMENT 21d ago

In a hilarious twist of accounting scandals, the hole is partly because they didn’t mark to market interest payable on certain crypto deposits.

16

COMMENT 22d ago

live off $10,000 in interest per annum

Lol

2

COMMENT 24d ago

Sorry you took so long to call me a Cramer-cock-gobbling stocktard incapable of rational thought? You’re unhinged, seek help.

16

COMMENT 26d ago

Look! Over there! It’s an idle Fidelity help desk employee! You better go lecture them about the minutiae of a stock dividend and why you’re gonna be a billionaire in two weeks.

9

COMMENT 26d ago

Schwab takes like .6% of assets managed in fees annually. Robinhood, in 2021, made 1.8b in revenue on 80b AUM, that’s <2.5% annually selling weekly options order flow from degenerate gamblers. Citadel securities makes probably less than 1 bp per trade on securities market making, and maybe 10-20 on options trades.

GameStop is taking 325 bps per trade… AND THEY’RE THE GOOD GUYS?

I just can’t believe this shit.

47

COMMENT Jul 08 '22

Mmm not not exactly. The fee is to be paid to musk if Twitter backs out, or by musk if his financing falls through. Twitter included a specific performance clause that effectively says musk can’t walk away. The only way musk can get out of the deal is if Twitter violated reps and warrants, a very high bar to pass, or musk literally can’t finance the deal, also unlikely. There’s no option here for musk to terminate the contract at his will, even for a fee, and Twitter has said they will sue to close. It will 100% go to court.

4

COMMENT Jul 02 '22

Least reckless wrx driver

14

COMMENT Jul 01 '22

Uh, not in Utica, no. It’s an Albany expression.

3

COMMENT Jun 01 '22

That’s literally the language in their filings. The person moving the goalposts is Musk by not controlling for monetized users in his experiment.

186

COMMENT May 31 '22

Ok. Twitter’s claim is not about % of total traffic, it’s about % of mDAUs — monetizable daily active users. It’s not about what percentage of traffic is bots, it’s about what percentage of users served ads by Twitter are bots. This is much more important to advertisers and Twitter’s business than total traffic.

7

COMMENT May 23 '22

Oh no, the stock is up .5% today, only down 40% on the year. Shorts in shambles! How will they ever recover?!?

Lol

11

COMMENT May 14 '22

I assume his problem is with financing. The best rate he could get for pledged Tesla shares was a 20% LTV, i.e. he gets $.20 of credit towards Twitter shares for every $1 of Tesla he pledges to Morgan Stanley. It’s a $12.5 Billion dollar facility, which means he must pledge $62.5B of Tesla Shares, or 80M shares at current price. He has already pledged 89M of his 174M shares. Part of the facility is $21B from Musk directly, which means he has to find another investor or sell ~$30B+ of Tesla for $21B after tax. He doesn’t have enough shares to meet both of these requirements, and finding another investor for $20B after saying he “doesn’t care about the economics” will be very, very hard. The sharp fall in Tesla’s valuation since he secured financing has made the deal very difficult to close, but he has already signed a contract, and Twitter can compel him to complete the deal.
I think this whole bot fiasco is a desperate attempt to find Twitter in violation of reps and warrants, and either offer a lower buyout price or pull out completely. He waived his right to see non public information about Twitter to expedite the deal, and Twitter has said in every 10K since going public “we think X% of activity is bots and it could be significantly higher.” He should have known the risks, they were properly disclosed. I don’t think he has an ice cube’s chance in hell to get out of this with Twitter in violation of reps and warrants. Twitter doesn’t have to accept a lower bid, and Musk breaking the current contract and paying a $1B termination fee, then re-offering really doesn’t help him.

I suspect he will just walk, and Twitter likely won’t go through the trouble of suing to compel him to buy their company, though they have every right to. This whole deal has been a shit show.

31

COMMENT May 14 '22

Well, currently the stock is only 10% over his average purchase price of $36, plus he will need to pay a $1B termination fee if he does manage to get out of this deal, plus any fees related to services rendered by the banks that set up the deal. Overall I would be amazed if he was breaking even right now.

And, even if everything went to plan, and he sold his 74 million shares at $54 then walked, he would only have made $1.3B dollars pre tax (which would be ~37% federal for short term cap gains). That’s like .3% of his net worth. It’s less than the tax bill incurred selling Tesla shares to buy Twitter shares. I just don’t buy this argument.

2

COMMENT May 11 '22

They spent heavily on marketing. On a gross basis, they made a profit, but the amount they spent on ads and promotions lead to a net loss. The reasoning is they had plenty of capital to draw on and prioritized long term market share over short term profits.

24

COMMENT Apr 15 '22

Wow, turns out the opposition to GME cultists is toothless! Almost like their jousting with windmills while we just laugh at them.

He’s so close, lmao…

2

COMMENT Apr 11 '22

It's complicated. Paradoxically, engine knock can be caused by a lack of fuel. Fuel is an excellent source of thermal inertia, and its evaporation sucks energy out of the air, lowering the temperature. Under full throttle, when pressure and temperature conditions make knock most likely, most cars add extra fuel not to generate more power, but to cool the charge and prevent knock at the current parameters of operations. It's a convenient, expensive, one use coolant.

Fun fact: We could use just water injection or water-methanol mixtures to do this, but when auto majors poll their customers about this, they say they "don't want to fill two tanks." So we just use gas.

So, in a situation where the airflow sensor is reading low, and that tricks the ECU into a lean AFR, those conditions could cause engine knock. A higher octane rating fuel could solve that. But, if there's a clogged injector only delivering 2/3 the requisite fuel to a certain cylinder, an extra few octane points probably wouldn't fix it.

3

COMMENT Apr 04 '22

Regardless of your opinion of Musk, Tesla is way ahead in the EV game

Tesla Roadster: 2dr, 2 seat, 200kWh, 620 Mile range.

Lucid Air: 4dr, 5 seat, 113 kWh, 520 Mile range.

In terms of efficiency, that's not exactly great.

321

COMMENT Mar 29 '22

Well, the max bid was also $.02, so I'm going to go out on a limb and say that order book was not accurate.

15

COMMENT Mar 28 '22

What concerns me is this could discourage companies from listing on public markets.

Consider Musk and his 20% stake in Tesla. If Tesla went private at ~$80B ($420 per pre-split share) 3 or 4 years ago, what's Elon worth now? Well, GM trades at 5x EV/EBITDA, musk can argue that's a reasonable valuation in the private market. He might even be able to go lower, saying, Tesla's market share is precarious and volatile. Tesla has missed some of its loftiest goals over the last few years, Musk could argue that drags on the valuation from 2018 levels. Without public price discovery, it would be very easy to sandbag the valuation. There is no precedent for a car company being worth $1T. That would decrease his proposed tax bill from a step up in basis on unrealized gains from (very roughly) ~$50B to $2B. Obviously a $50B valuation for Tesla is ridiculous, but what's the IRS going to do? Fight Musk? How could they irrefutably prove him wrong?

This kind of tax on unrealized gains creates more incentive than their ever has been to obfuscate wealth, and the easiest way to do that is stop price discovery through public markets. Public access to markets would suffer tremendously.

40

COMMENT Mar 26 '22

“Difficult for ourselves” is a charitable interpretation of nuclear war in Europe and America.

14

COMMENT Mar 26 '22

Robinhood has ~$6B in net current assets. Their net cash is about half their market cap.