The Recovering Investment Banker

Explaining Elon Musk's Takeover of Twitter

Episode Summary

Chris explains how Elon Musk acquired Twitter, based only on public information and his insight (guided by experience). It will be interesting to see what happens with it.

Episode Notes

00:32 - Elon Musk, like very few people in the world, has the personal capital to buy Twitter, a publicly-traded company, and take it private. He filed a Schedule 13D with the SEC and made moves.

04:10 - Musk bought 9.2% of the company and the board had to recognize him as the largest shareholder, and they offered him a seat on the board. Musk declined because of the handcuffs they would have put on him.

08:50 - At no point so far has the board made mention of free speech, censorship, and the other reasons Musk has publicly stated he is buying the company to change.

12:40 - The Washington Post has published over 75 articles and op-eds to date that are against Musk's move to buy Twitter, claiming a centa-billionaire owning such valuable public utility/public square is dangerous. And yet they are owned by centa-billionaire themselves; Jeff Bezos.

15:18 - Twitter's board is mostly foreigners from places that do NOT have a first amendment like we do. Their values are not in line with freedom of speech.

17:22 - The government/media/political establishment attacking Musk is reminiscent of another man who challenged the power structure in our financial system, Michael Milken.

21:18 - Summary. Thanks for listening!



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