Elon Musk Announces that Twitter Will Change Name to X

[dragontamer5788]

Nah, let's not make this about politics. Billionaires on the ring? Now that's entertainment

Except it's not billionaires in a ring.

It's Elon Musk talking shit again and he will predictably find a way to escape this while Elon Musk's fanboys collectively get amnesia about this event.

The fight won't happen. Period. The only entertainment value here is maybe... Just maybe, watching fanboys get distracted and seeing how many stupid people Elon can mislead again.

The point of the 'fight' is to distract and troll. Much like going off topic about how much X sucks and how bad xvideos is as a name and that no one wants to send Xes to each other.

 

[trsttte]

Why spend money in advertising when you can just constanly do stupid shit everyone will report on?

That's how Elon Musk has operated for years, he just went with the times from mildly amusing stunts - like "not a flamethrower" - to absolute crazy stuff

 

[R0H1T]

Well would you have preferred if he named it Ex instead

 

[chrcoluk]

Facebook literally made $117 Billion in revenue while Twitter is easily going to be losing $2+ Billion this year.

There's a reason why Facebook can piss $25 Billion into a failed project like Metaverse and completely survive no sweat. They print so much money its insane. Even dozens-of-billions of dollars of mistake is no problem to them.

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Facebook literally loses more money in shitty projects that will never work (ie: Metaverse) than Twitter can make in revenue. The difference between the two platforms is unfathomably wide.

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By revenue, Facebook/Meta is on the scale of 2300% the size of Twitter, and that was 2021-era Twitter with $5 Billion/year revenue.

What do you think Twitter's revenue this year, 2023 will be? They'll be lucky to get $2.5 Billion. Ad revenue has collapsed and everyone knows it.

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EDIT: Look, I don't like Facebook/Meta either, but... the comparison between the two companies is insane. The fairy tale character Thumbelina was IIRC ~3-inches tall, and compared against someone 23x her size it'd be a typical 6-foot person. That's the kind of comparison you're making.

Yeah also not a fan, but have learnt in the UK, facebook is massive here, the marketplace has pretty much replaced ebay, and facebook groups are really popular.

 

[dragontamer5788]

Why spend money in advertising when you can just constanly do stupid shit everyone will report on?

That's how Elon Musk has operated for years, he just went with the times from mildly amusing stunts - like "not a flamethrower" - to absolute crazy stuff

There's a downside, because Elon has "jumped the shark" starting about a year or two ago. Elon has gone "so stupid" with his stupid shit, that the entire scheme relies upon collective amnesia.

You know why no one is talking about Elon's stupid shit? Because they're trying to forget it. All we gotta do now is just point it out and make sure that we remember, even if Elon's Fans keep forgetting.

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In a few months, Elon will do something stupid to make everyone forget about the MMA fight. And a few months after that, Elon will do a new thing that's stupid that will make everyone forget about that other thing. I'll try to remember them, at least for my own lulz. But its actually pretty hard to keep up with all of it because Elon's incredibly good at distracting us.

 

[AsRock]

A lot of people are fully unaware or blind to the fact social media platforms work with non transparent algorithms that steer them into addiction, psychological clusterfks and general unhappiness, driven by one thing alone: ad revenue ergo the pockets of their owners.

On social media every participant is pawn and product. So yes, its dumb and the vast majority oblivious enough to keep coming back to it. It deserves to be called out. Every time. Hopefully the penny drops for some, every soul won is profit for common sense.

I get people use its advantages too, I did the same about 10 years ago as a promotor of dubstep parties. There are wolf and sheep in all herds, but in the end even those wolves are herded.

What all so puzzles me is why people are bitching about the name change, sorry i just dropped so much money on some thing that has a terrible rep i would change the name too.

Still waiting for all those people to leave as they said they would. Anyways he has every right and believe is right to change it.

 

[dragontamer5788]

sorry i just dropped so much money on some thing that has a terrible rep i would change the name too.

Assuming Elon was a good businessman... he could have just... not bought Twitter?

Its not like Twitter's reputation changed in the 2 months between March 2022 and May 2022 when Elon's opinion about buying the company suddenly flip-flopped.

 

[R0H1T]

He didn't want to part ways with a billion or two for reneging on the deal, instead he went all out & made sure he didn't need to pay a puny "restocking" fees

I mean if I had $250 billion to spare at that time I might've done the exact same thing, no one said you had to be a stable genius to become filthy rich did they

 

[trsttte]

He didn't want to part ways with a billion or two for reneging on the deal, instead he went all out & made sure he didn't need to pay a puny "restocking" fees

I mean if I had $250 billion to spare at that time I might've done the exact same thing, no one said you had to be a stable genius to become filthy rich did they

No no no, he simply didn't have an option. He tried to back out of the deal but the offer was so bluntly dumb with no prerequesites or anything that Twitter sued and he was probably going to loose and be forced by court to buy it - it was going to be groundbreaking, a court forcing a multi billion dollar purchase but it is what it is, he didn't really had much of a defense so he decided to not fight the case and buy twitter.

He also didn't really have or has that money, his fortune is all tied up in tesla stock and his other companies, he had to borrow a lot and dump a lot of tesla stock to make the acquisition

 

[dragontamer5788]

He tried to back out of the deal

Elon could have not made the deal in the first place. Why sign a $44 Billion deal in March if you're just going to back away a month or two later?

But that requires Musk to think more than a few days in advance, which he is apparently incapable of doing.

He didn't want to part ways with a billion or two for reneging on the deal, instead he went all out & made sure he didn't need to pay a puny "restocking" fees

The $Billion breakup penalty was something only the US Government (or similarly large entity) could invoke. Not Elon by the way.

Ex: If the US Government, or if UK or the EU, came in and said "Antitrust: you aren't allowed to buy Twitter", then Elon pays $1 Billion and gets to back out of the deal. IE: Things outside of Elon's control. The contract Elon signed in March was so solid that he couldn't back out even with the $1 Billion escape clause.

And it just makes sense. Why would (former owners of) Twitter make a $44 Billion deal if there was just a $1 Billion penalty to back out of the deal? That's not even 2%. The stock market fluctuates more than that in some days, let alone weeks.

 

[trsttte]

that has a terrible rep i would change the name too.

Thing is twitter didn't have that bad a rep in the first place, it wasn't great but it wasn't terrible either. And more importantly it's a massively recognized brand, twitter the place where you tweet like a small chirp from a little blue bird, it was a major stapple of social media and it threw it all in the garbage for the most non descriptive thing possible, X, that is easily confused with about anything - including unsavory things to advertisers like porn.

It's like if tupperware decided to say fuck it and changed it's name, they defined a type of product, that's the utopia everyone creating a brand wants to reach

 

[R0H1T]

He also didn't really have or has that money, his fortune is all tied up in tesla stock and his other companies, he had to borrow a lot and dump a lot of tesla stock to make the acquisition

I know & would've thought the banks or institutions that financed the deal were even more stupid at the time.

And it just makes sense. Why would (former owners of) Twitter make a $44 Billion deal if there was just a $1 Billion penalty to back out of the deal? That's not even 2%. The stock market fluctuates more than that in some days, let alone weeks.

The bare minimum was a billion reported at the time & Twitter would almost certainly to go to court, & win, but what would they get out of that? No one really knows because that's not how it played out, I was of the opinion that he'd look like a fool in the courts & that to save face & avoid harsher penalties he decided to not pursue it any further. He did try though, at least from the outside, very hard to not have to buy Twitter & maybe his lawyers convinced him that it wasn't worth it? I can't say what price would've fine been to back out of the deal but surely this affects Tesla & SpaceX long term. That's what probably the next trillion dollar question is!

 

[dragontamer5788]

I know & would've thought the banks or institutions that financed the deal were even more stupid at the time.

Its a public company. That's retail who are funding these things. When Tesla (or whatever) raises a ton of money from SPOs and IPOs, its not a bank fronting the money. That's Tesla investors, individuals who are clicking buttons in their basement playing with their 401k accounts. Elon is great at tricking large swaths of people like this. You can still see people who've been tricked by Elon talking about how battery-swap is going to be a thing, because that's what they bought Tesla stock on. A blatant lie that Elon has forgotten about by now, but they haven't (and are holding onto their stocks hoping that Tesla makes it a thing).

Its sad, pathetic, and blatant manipulation of average joe's across this country to blatantly take their money. But hopefully I can at least remind people how they've been tricked, and eventually they'll figure it out.

The bare minimum was a billion reported at the time & Twitter would almost certainly to go to court, & win, but what would they get out of that? No one really knows because that's not how it played out, I was of the opinion that he'd look like a fool in the courts & that to save face & avoid harsher penalties he decided to not pursue it any further. He did try though, at least from the outside, very hard to not have to buy Twitter & maybe his lawyers convinced him that it wasn't worth it? I can't say what price would've fine been to back out of the deal but surely this affects Tesla & SpaceX long term. That's what probably the next trillion dollar question is!

Elon folded the moment (former) Twitter began to subpeona him. Elon's text messages became public information and immediately, Elon gave up and paid the $44 Billion rather than go to court to discuss what his text-messages in March really meant.

That's the thing about courts. Things like text messages, and other business dealings, will become public to prove (or disprove) various points of view. Its called discovery. Elon didn't like the process and decided to settle before going through with it.

It also looked like the full $44 Billion was going to be spent anyway. The text-messages that became public that week showed that Elon was extremely excited about Twitter in March, proving that he truly wanted to buy the company back then.

 

[Vayra86]

Assuming Elon was a good businessman... he could have just... not bought Twitter?

Its not like Twitter's reputation changed in the 2 months between March 2022 and May 2022 when Elon's opinion about buying the company suddenly flip-flopped.

Maybe just maybe its a big ass ego with too much time on social media, much like Trump

Covfefe

whatever. But then there's a judge that says 'nope, we're keeping you to that promise, Elon'
And then there is Elon, charging forward because Elon is never wrong in the world of Elon, and Elon always wins. So Elon resorts to old and underhand tactics to claw its way back to the surface. Destination: X, or unknown.

He didn't want to part ways with a billion or two for reneging on the deal, instead he went all out & made sure he didn't need to pay a puny "restocking" fees

I mean if I had $250 billion to spare at that time I might've done the exact same thing, no one said you had to be a stable genius to become filthy rich did they

The line between genius and madman is very thin indeed...

 

[AsRock]

Elon could have not made the deal in the first place. Why sign a $44 Billion deal in March if you're just going to back away a month or two later?

But that requires Musk to think more than a few days in advance, which he is apparently incapable of doing.



The $Billion breakup penalty was something only the US Government (or similarly large entity) could invoke. Not Elon by the way.

Ex: If the US Government, or if UK or the EU, came in and said "Antitrust: you aren't allowed to buy Twitter", then Elon pays $1 Billion and gets to back out of the deal. IE: Things outside of Elon's control. The contract Elon signed in March was so solid that he couldn't back out even with the $1 Billion escape clause.

And it just makes sense. Why would (former owners of) Twitter make a $44 Billion deal if there was just a $1 Billion penalty to back out of the deal? That's not even 2%. The stock market fluctuates more than that in some days, let alone weeks.

He was trying to back out of it as it was not worth as much as they claimed.

 

[dragontamer5788]

He was trying to back out of it as it was not worth as much as they claimed.

Fun theory, except Elon went to Twitter to buy them out. Hostile takeover style.

Elon Musk Is Poised For A Hostile Takeover Against Twitter

Musk has rejected a plan to join Twitter’s board, renewing the likelihood that he could launch an outside bid for control of the company.

www.forbes.com

Twitter never asked for this, but when Elon's offer was stupidly overpriced, they accepted because why not take free money when an idiot gives it to you?

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.

Musk has been making moves to secretly buyout Twitter long, long before the press picked up on it. By the time negotiations started, Musk revealed he was the biggest shareholder and controlled a substantial amount of the votes already.

This is a guy who wanted Twitter maybe in 2021 or earlier. Twitter never wanted the buyout, but it was better to accept the (idiotically priced) buyout rather than fight against it.


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As I said before, all of this Elon bullshittery requires you to forget about things. Like how much Elon wanted Twitter before hostilely offering the $44 Billion.

 

[AsRock]

Fun theory, except Elon went to Twitter to buy them out. Hostile takeover style.

Elon Musk Is Poised For A Hostile Takeover Against Twitter

Musk has rejected a plan to join Twitter’s board, renewing the likelihood that he could launch an outside bid for control of the company.

www.forbes.com

Twitter never asked for this, but when Elon's offer was stupidly overpriced, they accepted because why not take free money when an idiot gives it to you?



Musk has been making moves to secretly buyout Twitter long, long before the press picked up on it. By the time negotiations started, Musk revealed he was the biggest shareholder and controlled a substantial amount of the votes already.

This is a guy who wanted Twitter maybe in 2021 or earlier. Twitter never wanted the buyout, but it was better to accept the (idiotically priced) buyout rather than fight against it.


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As I said before, all of this Elon bullshittery requires you to forget about things. Like how much Elon wanted Twitter before hostilely offering the $44 Billion.

Yeah i remember all that, but as deals go he must of signed some thing as verbally means nothing.

But still has every right to change the name, who wouldn't after all the crap was going on back then.

 

[claes]

Yeah i remember all that, but as deals go he must of signed some thing as verbally means nothing.

This was already outlined in the thread — he offered more than the value and signed a contract that led to a lawsuit when he attempted to back out after incriminating himself in terms of that contract

But still has every right to change the name, who wouldn't after all the crap was going on back then.

Twitter was the most popular and established social media platform in the west… he may have had the right to change the name but it was a terrible business decision, even with its baggage

https://www.bloomberg.com/news/articles/2023-07-24/twitter-turning-into-x-is-set-to-kill-billions-in-brand-value

 

[AsRock]

This was already outlined in the thread — he offered more than the value and signed a contract that led to a lawsuit when he attempted to back out after incriminating himself in terms of that contract

Twitter was the most popular and established social media platform in the west… he may have had the right to change the name but it was a terrible business decision, even with its baggage

https://www.bloomberg.com/news/articles/2023-07-24/twitter-turning-into-x-is-set-to-kill-billions-in-brand-value

Fair enough, i think he can afford it haha.

Twitter as a name has so much shit on it that it makes sense to change it.

Twitter was the most popular and established social media platform

Still is ?, not as i care about any of them tbh way to much trash on any of them who ever owns them. Just another way to control the pop.

way to many adult 5 yo's on any on them.

 

[claes]

Idk why you think buying a company for $44b, driving it’s value down to $15b, and then undergoing a rebrand that could drop its valuation anywhere from $4b-$20b “makes sense,” but okay

Why would you spend $44b on a company just to rebrand it? What made it valuable in the first place? Should he buy Exxon Mobil or chik-fil-a and rebrand them, too? Maybe the Waltons should change the name of Walmart?

Rebranding works for capital firms and arms companies and private firms facing bad press, but publicly traded house-hold brands? If you’re considering a rebrand your value is unredeemable. Just donate money to a charity or grin-and-bear it like all of the most recognizable brands do.

 

[trsttte]

Its a public company. That's retail who are funding these things. When Tesla (or whatever) raises a ton of money from SPOs and IPOs, its not a bank fronting the money. That's Tesla investors, individuals who are clicking buttons in their basement playing with their 401k accounts

Hold on, retail is not the majority of the shareholders, there has been hype and options speculation helping the stock balloon at times, not to mention the crazy stupid shorts that were betting against both tesla and ev's in general, but the majority is still held by institutions. Plus, owning stock is not the same as funding the company, it gives access to better funding but it's really funding the company, when Tesla was still scalling up what held it together were things like the partnership with Daimler (Mercedes) for the smart ev, not EV entusiasts buying into a cool promise.

I was surprised by the number I found - 44% - but hey, unless you held it for a short time you made a killer profit so can't really say they're wrong, Tesla for better or worse is one of the biggest EV manufacturers and the ones that proved EVs worked and are cool.

 

[MarsM4N]

The fight won't happen. Period.

I wouldn't rule it out completely. You know, when two big ego's colliding in public, everything can happen. And pulling out would look weak.

And it looks like Mark is already preparing:

Mark Zuckerberg's Wife Ticked Over His Decision To Build Backyard Octagon

Mark Zuckerberg revealed Wednesday his decision to build an Octagon at his home has really ticked off his wife.

www.tmz.com

From a safety standpoint a boxing match could be quite dangerous, esp. for old & untrained people. A slap fight would be more safe & also entertaining.

 

[trsttte]

From a safety standpoint a boxing match could be quite dangerous, esp. for old & untrained people. A slap fight would be more safe & also entertaining.

Slap fighting is also extremely dangerous, while you avoid most of the body risk there's a much bigger risk of concussion and brain injuries!

 

[dragontamer5788]

I wouldn't rule it out completely. You know, when two big ego's colliding in public, everything can happen. And pulling out would look weak.

And it looks like Mark is already preparing:

Mark Zuckerberg's Wife Ticked Over His Decision To Build Backyard Octagon

Mark Zuckerberg revealed Wednesday his decision to build an Octagon at his home has really ticked off his wife.

www.tmz.com

From a safety standpoint a boxing match could be quite dangerous, esp. for old & untrained people. A slap fight would be more safe & also entertaining.

Elon Musk says he may need surgery

Elon Musk said he may require surgery and is getting an MRI of his neck and upper back.

www.cnbc.com

Musk is already setting up a public reason to step out of the fight.

 

[AsRock]

Elon Musk says he may need surgery

Elon Musk said he may require surgery and is getting an MRI of his neck and upper back.

www.cnbc.com

Musk is already setting up a public reason to step out of the fight.

Attention seekers is all they are, it's the new gold so to speak. Without you ( meaning everyone ) they would just turn to another idea.

Ignore them as anyone with any common sense would do.