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Elon Musk is considering taking Twitter out of Europe amid EU compliance investigation
(www.businessinsider.com)
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this post was submitted on 18 Oct 2023
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It is increasingly likely that the point of purchasing Twitter was to destroy it.
Edit - FWIW, I waffle back and forth on this one. I mean, the guy's not a complete idiot. Though I don't certainly think he's the genius people often think he is. He's needed had a fair amount of luck and self-serving coercion to get where he is. The Twitter stuff is just so blind to market reality that I wonder if there's some self-sabotage in there?
(Either way, I am genuinely enjoying the the follow-on comments here!)
His point of purchasing Twitter was to pretend that he was purchasing Twitter. He never intended to go through with it.
Remember that he tried to back out but courts forced him to go through with it.
Since he was an idiot and gave a no reservations or conditions bid for the company. At way overpriced at that. The existing biard and owners must have been fainting from shock and glee.
No one sane ever gives no reservations and conditions bid. That is insanely stupid thing to do.
Twitter didn't make Elon buy Twitter. Elon did that to himself. Under normal bid, absolutely he could back out by arguing one of the conditions his lawyers would have put in.
Either his lawyers were highly incompetent, he didn't use them or he ignored their advice that it would be highly unusual and monumentally stupid to issue such bid while waiving ones right to have terms and conditions included. Well negotiate in terms and conditions. Since obviously otherside might refuse to accept the buying contract, if they don't like the terms and conditions.
In this case all the judge did was looked at the bid contract and went "Mister Musk, you signed bid to buy with no terms and conditions. So you have to honor the bid."