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Elon Musk is considering taking Twitter out of Europe amid EU compliance investigation (www.businessinsider.com)

submitted 1 year ago by stopthatgirl7@kbin.social to c/worldnews@lemmy.ml

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As Twitter, renamed X, faces increased scrutiny in the EU and usage falls, Elon Musk has floated drastic action.

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[-] indigomirage@lemmy.ca 139 points 1 year ago* (last edited 1 year ago)

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!)

[-] fubo@lemmy.world 65 points 1 year ago

Well, mostly to take it away from the libs and hand it to fascists.

Expect a fire sale to Trump Social.

[-] Uranium3006@kbin.social 15 points 1 year ago

Except he bungled that and now it's dying

[-] Klear@sh.itjust.works 11 points 1 year ago

Oh no! It's just resting!

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[-] pennomi@lemmy.world 64 points 1 year ago

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.

[-] variaatio@sopuli.xyz 13 points 1 year ago* (last edited 1 year ago)

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."

[-] takeda@lemmy.world 43 points 1 year ago

Sorry but that's dumb. You don't spend $44B to ruin it, when you can use it for own benefit.

EU doesn't like the changes he did and started investigation. Melon hopes that by threatening to withdraw they might stop, or be easy on him.

I mean if the goal was indeed so ridiculous as shutting Twitter down, it would be easy as shutting it down. He would save his image by just doing that instead of what he is doing right now.

His goal is to turn Twitter around and use it for affecting next elections, he is running into pesky EU and their regulations.

[-] SlopppyEngineer@discuss.tchncs.de 11 points 1 year ago

He didn't plan on spending 44B. The plan was to manipulatie stock price with pretending to buy, but Twitter management saw that one coming and let him sign a document for 44B that the rich idiot didn't read.

So when the "I changed my mind" phase of his master plan started, Twitter pulled out the document and forced him to cough up the 44B. So yeah, now he pretends it was the plan all along.

[-] johnthedoe@lemmy.ml 7 points 1 year ago

It’s trying to give him a little credit to justify messing up a purchase that large.

If the intention wasn’t to shut it down or disrupt then everything that’s happened is literally just Elon being a complete dunce. Which is definitely more likely, but scary to think someone can be that reckless with 44 billion dollars

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[-] Pons_Aelius@kbin.social 35 points 1 year ago* (last edited 1 year ago)

~~Nah, he never wanted to buy it.~~

~~It was a pump and dump and then the SEC forced him to actually buy it.~~

He tried to back out but was forced to complete the sale.

Now he has no idea what to do with it and is just digging himself deeper and deeper and deeper.

[-] microphone900@lemmy.ml 18 points 1 year ago

What was Elon Musk’s strategy for Twitter?

Well, he is kinda following a random message he got from an unknown person:

The three texts were sent on April 4, 2022. In the nearly 18 months since then, many of the decisions Musk made after he bought Twitter appear to have closely followed that road map, up to and including his ongoing attacks against the Anti-Defamation League, a nonprofit organization founded by Jewish Americans to counter discrimination.

The text messages described a series of actions Musk should take after he gained full control of the social media platform: “Step 1: Blame the platform for its users; Step 2: Coordinated pressure campaign; Step 3: Exodus of the Bluechecks; Step 4: Deplatforming.”

Seems he's killing it to get cheers and adulation from the far right.

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[-] someguy3@lemmy.world 14 points 1 year ago

He signed a contract to buy it, then tried to back out.

[-] Pons_Aelius@kbin.social 9 points 1 year ago

Good point, you are correct. I worded that incorrectly and have edited it.

To people like EM, laws are only there to force others to do what they want, not to bind or limit their actions. When he decided to back out of the deal, as far as he was concerned, he should have been allowed to.

When they sued to force the sale, it was the legal discovery that scared the shit out of him. So he had to go through with the purchase.

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[-] Fades@lemmy.world 24 points 1 year ago* (last edited 1 year ago)

Anyone that believes this is truly brain dead. He was humiliated when he didn’t look into the deal signed the contract and then tried to pull out when he realized what was happening. He had to beg for loans for fucks sake, putting up Tesla shares and other things as collateral.

He’s just a dumb rich piece of shit who is desperate for control and power. He will say or do anything to get what he wants (especially if he thinks it will garner attention) - that doesn’t require a master plan or any real preemptive thought for that matter

He’s a fucking piece of shit with a golden parachute out his ass and a silver spoon in his mouth since he was a child. He has ALWAYS bought his way in, look at damn near every business venture this piece of shit has had. Shit, he literally bought his way into Tesla, then OUSTED THE OGS AND LABELED HIMSELF A FUCKIN FOUNDER.

It has always worked for him so he kept trying to buy his way thru shit. Just look at his little spat with Zuck. He is ALL talk; especially when his money gets to do the talking. When shit hits the fan he scrambles. Always has always will

[-] Uranium3006@kbin.social 16 points 1 year ago

That makes No sense. He's just bad at busniess

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[-] misterundercoat@lemmy.world 97 points 1 year ago

Ok then, that was always allowed.

[-] tacosplease@lemmy.world 20 points 1 year ago

LOL he's Jerry

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[-] gerryflap@feddit.nl 81 points 1 year ago

As a European: yes please. Fck off and never come back Elon

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[-] vodkasolution@feddit.it 67 points 1 year ago

You're welcome to leave!!

[-] Shard@lemmy.world 20 points 1 year ago

"If you don't like it then leave" never felt so satisfying and justified.

[-] mp3@lemmy.ca 47 points 1 year ago

[-] Hubi@feddit.de 21 points 1 year ago

[-] MamboGator@lemmy.world 41 points 1 year ago

Maybe Canada can join the EU so we can partake as well.

"Why hullo there. Yes, it is us, your friendly Yuroppeean neighbours, don'tcha know. We're from Moosejaw, Jyermanny, eh--I mean, uh, nein?"

[-] Osa-Eris-Xero512@kbin.social 16 points 1 year ago

I see we're back to the land border between Canada and Denmark already.

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[-] aceshigh@lemmy.world 39 points 1 year ago

so his plan is to give another platform a chance... get it popular in EU and then have it spread globally. cool.

[-] ElBarto@sh.itjust.works 35 points 1 year ago

Can he take it out of Australia as well?

[-] nickhammes@lemmy.world 35 points 1 year ago

Don't threaten me with a good time

[-] Bbbbbbbbbbb@lemmy.world 33 points 1 year ago

Do it, pussy. I dare you to follow through with that

[-] DmMacniel@feddit.de 32 points 1 year ago

I see this as a perfect win.

[-] runiq@feddit.de 29 points 1 year ago* (last edited 1 year ago)

[-] fisco@lemmy.ml 27 points 1 year ago

Best idea he's had so far....twitter is dead anyway...💥

[-] redimk@lemmy.dbzer0.com 26 points 1 year ago

Just shut down the damn app by this point, man.

[-] someguy3@lemmy.world 17 points 1 year ago* (last edited 1 year ago)

Ah business genius. Take your product out of a massive relatively rich population. EU 450 million people, Europe 740 million.

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[-] Zellith@kbin.social 16 points 1 year ago

Bye Felicia. Nothing of value will be lost.

[-] DrugsMcChrist@lemmy.ml 15 points 1 year ago

oh no not that

[-] PK2@lemmy.world 15 points 1 year ago

Man, Europe gets all the breaks! Wish the rest of the world did too.

[-] HiddenLayer5@lemmy.ml 15 points 1 year ago

[-] Foni@lemm.ee 14 points 1 year ago

A few years ago Facebook made the same threats and they are still there, screwing up. They are still empty threats and we all know that they will not do it

[-] Blackmist@feddit.uk 13 points 1 year ago

Don't threaten us with a good time.

[-] library_napper 13 points 1 year ago* (last edited 1 year ago)

Do North America next plz

[-] Ooops@kbin.social 12 points 1 year ago

How often have we heard that empty promise now?

C'mon... you can do it!

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[-] pushingice@iusearchlinux.fyi 11 points 1 year ago

Please piss off Musk

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[-] FlyingSquid@lemmy.world 11 points 1 year ago

Keep it in Saudi Arabia where it belongs.

[-] papalonian@lemmy.world 10 points 1 year ago

This is off topic, but I really like the facial hair that he has grown. It looks really awful, and makes him look more like the 50 something-year-old capitalist that he is rather than the 30 something year old epic meme lolzer he was trying to portray himself as a couple years ago

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[-] MxM111@kbin.social 10 points 1 year ago

Promises, promises…