Plot twist:
I think it goes much deeper, read about Dead Internet Theory. It's basically the theory that the majority of the internet is fake and gay with bots, fake upvotes/likes/retweets/accounts/etc. Not just Western internet, all social media. And think about it, it's so easy for a company to give someone fake likes for their dumbass posts and videos and make them feel good about themselves for making that post. All they have to do is change a number in a database and some stupid fucking video on tiktok has the creator go from "no one likes my video, I give up on TikTok" to "Wow I got 100 likes I'll get 200 on my next video!" ANd it can all be fake, there's no actual proof users and what they do on these sites is real. Everyone just assumes every account/upvote/like/retweet/etc is real and comes from a human. Biggest fraud in the history of the internet.
Now that AI is good enough at text generation to fool 99% of people things are going to get a lot worse. But I think Musk just wants to shed light on the fact that the internet is a lot faker and gayer than anyone realizes. I think he'll back out of the deal, the guy almost always ends up backing out of shit and moving onto something new.
BINGO!
But also:
lol So if Twatter gets sued by shareholders, the deal is off and they will have to pay Musk the agreed termination fee.
The current situation is probably not included in that clause. This is outright fraud.
Musk would only have to show in due diligence that the company was not as materially represented in the purchase agreement. Twitter stated 5% fake users in that agreement and if his due diligence team find that in significant error, twitter is in breach. With the breach, Musk takes his $1 billion and then the shareholders sue. When Twitter settles (always goes to a class action judge) Musk makes another lower offer. Musk's only risk is that at the lower number and with the publicity, it might attract rival offers. As far as the SEC, if Twitter knowingly misrepresented the number of BOTS (highly likely), then they committed several serious crimes. Most important of these crimes is Securities Fraud. The US government isn't interested in putting rich people in jail, so that will most likely be a 9 figure fine and some board member may be banned from public boards. The fine also works in Musks favor.
Love it!
(post is archived)