Elon Musk sells $6.9B worth of Tesla stock
axios.com
axios.com
50% chance that is a bs excuse to liquidate - 50% chance he has figured out he is totally screwed on the twitter lawsuit.
What does this mean for Elon Musk? I'm not sure, but I wonder if he already knew about the bots or what.
On April 25, 2022 - Twitter's board of directors accepted Musk's buyout offer of $44 billion.
People will go to great lengths to defend their idols, but claiming that Musk was playing 4D chess on this and that it was all a ploy to liquidate stock is the inverse of Occam’s razor, especially considering all the more straight forwards paths he had even if this was his main objective.
1. it's a lot more likely that you're going to lose 5% than make 100% (in reality you're making more like 20%, because the stock won't go to 0 if the deal doesn't go through). The bet will actually look something like 20% to make 20% or 80% to lose 5%. The expectation of that is 0.
2. For many names borrow fees will shoot up and there will be limited availability to short. So you'll have to take that into account. The fees can get particularly painful if the deal drags on for a long time.
Hence, theta.
The current price is $42. If you need money, sell some portion of it.
$42 is probably a fair risk-adjusted price as the board will likely ultimately settle for a lower sale price to avoid a very public litigation about its true bot content.
Don't look at $54.29 as the "correct" price. Evaluate the spectrum of probabilistic outcomes.
Perhaps you don't owe billionaire trolls better, but you owe this community better if you're participating in it.
Billionaire troll is also objectively factual.
I understand the reasons for wanting a passionate topic to stay cool, I'm just genuinely curious about the personal attack angle, not stirring the pot.
What I'm asking is what makes his facts personal attacks and yours simply a 'fact'.
When trying to persuade people not to fulminate and whatnot, I usually make an "even if you're right" argument: "even if you're right about $topic, please don't post the way you just did, because it's bad for the community". It doesn't mean I actually think they're right.
A harder-nosed way to say it would be: "it doesn't matter if you're right or wrong, you broke the rules and that's that". But it usually works better to include the possibility that the commenter is right. It costs nothing (the moderation point is the same either way) and it signals "I understand your point of view and it's not my purpose to dispute it". In this way you're standing alongside the other person, persuading them, instead of standing opposite, berating them.
It's also more efficient because by explicitly separating the two things (being right vs. following the rules), there's less energy for the otherwise inevitable objection, "you just don't like what I posted because you disagree with it".
So when I said "billionaire troll" it was not to agree, but rather to say "see? I understand your point of view, but you're participating in a community where we all have to take care of the ecosystem—you can't just toss lit matches or trash the place". Reflecting someone's point back to them in language they recognize is a more effective way to show you understand their point of view than merely saying "I understand your point of view". Nevertheless, the operative word in the sentence remains "but".
Of course, if you go too far in doing that, you run the risk of upsetting the other side, so you have to thread the needle. I probably should have used a more neutral phrase.
I'll try and keep this is mind going forward for my own comments as well.
If you are searching for role models for life, it is better to search inward. Plenty of philosophical texts you can read.
And there is an oversupply of hatemongers on the net.
Reminds me of Jürgen Klopp, Liverpool FC coach, being asked by the media what did he think about the pandemic, to which he answered, paraphrased: "why the hell are you asking me such a question? I'm a football coach, who cares about my opinion on a pandemic. Go talk with a doctor or a virologist, not a football guy."
EDIT: found the link: https://youtu.be/tZ4bKnpxbYc
He called the diver a pedophile, hired a private investigator to study him and claimed to Buzzfeed in an email("off the record") that he has evidence of the diver being a rapist and buying his wife, or something to that effect.
All of those were invented lies, but he also won the defamation lawsuit against him, because he's rich and he can do whatever he wants with no consequences.
Oh yeah, he also flew to Thailand for a photo op with the military, showcasing his idiotic submarine while kids were dying in that cave.
He's a narcissistic asshole at best, a sociopath at worst.
But even things like the tesla tunnels, and being against public transportation.
Everyone involved with programming or science in general should have called that a scam from the very begging and I'm still mystified that everyone bought it.
But after he started speaking out against the censorship of Twitter, and about depopulation being a problem, and calling out bill gates and Biden, I appreciate him more than before. I think he wouldn't try to back off if he didn't initiate the deal at what was probably the market top for the next several years.
I sure hope Elon manages to get through the turmoil he has created - and incurred by stint of the raging hate-boners of liberals everywhere - and gets Starship completed and ready to rumble.
Because nothing makes the imperative for the human race to move to space more clear than the ranting/raging rubble that calls for the blood of any human being who dares to raise the bar and yet still makes a few rude unforgivable mistakes along the way ..
Seriously, I hope we get Starship, whatever happens. If that is canned because Musk was eaten by cannibals, its going to be a very, very disappointing result.
We'd just have another SLS pork-barrel space company, which was the norm before Elon came along.
“Because I travel a lot, and I do not love to travel. And I would love to get to see my customers in Riyadh, leave in the morning and be back in time to make dinner.” Shotwell said the rockets would be cost competitive with long-haul airline flights because of their ability to make several trips a day."
They doubled down a year or two ago and said that timeline was still on track. Think about what they are saying critically.
SpaceX has done more for the space industry than any other industry this century. I look forward to my lunches in Riyadh, personally .. assuming the military-industrial-complex doesn't get its way and we're all victims of their aggression, instead of the progress SpaceX offer ..
Or just his own awful actions. Rushing into a garbage purchase contract for Twitter is his own fault and nobody else's. Attacking people at the drop of a hat (regardless of the justness of his actions) is his own self-destructive choice.
The only meaningful squanderer of Elon's potential is Elon himself, not the Twitter rabble.
Well. It looks like with this Twitter subterfuge, he is now multi billionaire, but in cash.
Now he just have to buy Twitter at whatever condition and he will still be multi-billionaire and own Twitter and Tesla.
Liquidating such an amount of TSLA in a short time will not happen without significant reduction of TSLA stock price. Musk will probably still be a multi-billionaire afterwards, but it would cost him several billions on the TSLA and TWTR front, because he would have overpaid for TWTR, TSLA share price would have tanked and he would have paid billions in taxes.
Our last hope for justice are the courts. Musk has three major trials in October, the 420 "funding secured" trial, some sex discrimination or bullying trial, I think, and the twitter trial in Delaware Chancery court.
The Chancery is our best chance, as they don't play. And Musk has already caused a rule 11 breach by signing statements that his own evidentiary submitions prove false.
I hope the courts fine him a few billion for his antics, and maybe ban him from being an company officer for 5 years. That's the only punishment that would be meaningful for a man like that. Specific performance, alone, would be a massive win for Musk. He needs to get fined hard, too.
Your two points seem to be at odds. If Twitter prevails in the upcoming case, my understanding is that Musk would be forced to complete the deal. I'd much prefer he just fcks off and goes home, even if it means he "wins".
Hitler and Stalin had a high probability of causing the direct killing of people they knew and loved.
Elon Musk is the CEO of a company you likely will never even patronize. Hatred (or love) of him is pure teenage emotional angst.