Elon Musk Is Poised For A Hostile Takeover Against Twitter

[Celerity]

https://www.forbes.com/sites/abrambrown/2022/04/11/elon-musk-is-poised-for-a-hostile-takeover-against-twitter/?sh=f93287974bed

An incredibly wealthy person quietly accumulated shares in a company some deem undervalued. That investor has gone public with concerns about the firm, questioning everything from its basic revenue model to employee culture, and rejected an offer from the business to join its inner circle and call off the attack.

We’ve seen where such a scenario ends dozens of times over the past decades: The rich shareholder is perfectly positioned to initiate a hostile takeover of a company. And now that’s the reality confronting Twitter TWTR +1.9% after Elon Musk has decided not to take a board seat, a role for him announced with some fanfare last week by CEO Parag Agrawal and founder Jack Dorsey. A day earlier, Musk, the world’s richest person, revealed he’d amassed a 9.2% stake in the company, making him its largest shareholder.

“This now goes from a Cinderella story with Musk joining the Twitter board to likely a Game of Thrones battle between Musk and Twitter,” says Dan Ives, a Wedbush analyst who covers Tesla TSLA -3.8%, one of two companies Musk runs. (SpaceX is the other.)

What happened? Over the weekend, Musk took to Twitter to throw out a number of suggestions for changing Twitter. Musk suggested Twitter could change nascent plans around its subscription product, Twitter Blue, and seemed to advocate for eliminating ads, which account for nearly all of Twitter’s $3.7 billion in annual revenue. Further, Musk threw out ideas for Twitter’s headquarters (convert it to a homeless shelter) and even the company name (drop the “w” to turn it into a sophomoric joke). When Musk talks, he reaches an incredibly wide audience: He has over 81 million followers on Twitter, making one of the most closely watched people on the app.

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[Cartoonist]

1. I recall a Simpsons episode

Homer was put in charge of designing a new car. It obviously didn't turn out so well.

[Hoyt]

2. Not sure this is a bad thing, but we'll see.

[exboyfil]

3. Like the Godzilla movie

Let them fight.

[Celerity]

6. one of the best lines ever from the monsterverse - loved the movie too

[SoonerPride]

4. If Musk takes over twitter and they wanna bill me $3 a month I will cancel

I only find it marginally entertaining and not worth paying for.

[zuul]

5. If Musk takes over, I will cancel my account even if they don't charge me a fee.

I enjoy Twitter and use it every day, but seriously, fuck that guy.