Jump to content
Register Now
Reality vs Adventure

Elon Musk offers $43 billion to buy off Twitter- Is this monopoly?

Recommended Posts

Elon Musk just bought 9% stake in Twitter and just offered $43 billion to buy the social media giant. First, there has to be laws against that sort of thing because this is an obvious monopoly attempt which is illegal in the U.S. Second, he might have broken the law in buying up 9% stake in the company. 

"The complaint in New York federal court accuses Musk of violating a regulatory deadline to reveal he had accumulated a stake of at least 5%. Instead, according to the complaint, Musk didn’t disclose his position in Twitter until he’d almost doubled his stake to more than 9%. That strategy, the lawsuit alleges, hurt less wealthy investors who sold shares in the San Francisco company in the nearly two weeks before Musk acknowledged holding a major stake."

https://abcnews.go.com/Business/wireStory/elon-musk-accused-breaking-law-buying-twitter-stock-84045275

Another issue about Musk owning a large stake in Twitter, is the influence of what that crazy yolkal will have. I personally believe he's crossed the path into fantasy world by the things he says lately, and he's being investigated for torturing monkeys in his Neuralink experiments. As far as Twitter, he's already said it would be better for Twitter to be privately owned. No it wouldn't. Under his influence, he has said he would make changes to free speech. And people are already trying to get him to un-ban trump if Musk bought Twitter. I have no doubts that he would turn Twitter into some extremist social media where free speech and inciting violence are considered the same. 

 

Link to comment
Share on other sites

So i'm just curious, how would this be a monopoly? I'm not all that in touch with the law, so I'm curious on how exactly Musk would have a monopoly? The lawsuit I understand, he broke a law, but how does it lead to monopoly?

Link to comment
Share on other sites

Elon musk must have purchased a staking power of 9%, in order to express opinions freely, without being restricted by the co-founders of Twitter, because he's part of the owners now. Remember, he was accused of using Twitter to promote dogecoin, which many deemed monopoly too, due to the influenced he constituted, made lots of people investing in the digital coin, resulting in huge money loss, as the coin dropped down drastically low within short term interval.

As for the laws of United States of America, I don't know about, but if Elon musk violated a rule, he should be penalized for it no doubt. Their should be equality when it comes to law enforcement between the rich and the poor. 

Link to comment
Share on other sites

25 minutes ago, Techno said:

So i'm just curious, how would this be a monopoly? I'm not all that in touch with the law, so I'm curious on how exactly Musk would have a monopoly? The lawsuit I understand, he broke a law, but how does it lead to monopoly?

You are right, turns out anyone can own however many number of corporations they want. To me that's ridiculous. Pretty much someone with enough money can buy up a corporation in absolutely every department. Why there aren't laws against that, I don't know. Maybe that's a big problem with the world. I didn't think it was possible to own an auto industry, satellite, space x, neural ink, and possibly Twitter. Where does it end for people like that? Can one person own the brand of everything you use on a daily basis? Fuck that!!!

Monopoly laws need to change to include this kind of crap.

Link to comment
Share on other sites

Twitter is now putting in place a plan they call the 'poison pill strategy' to prevent 'hostile' corporate bids. And they are now going to implement that strategy against Elon Musk. It would prevent Musk from increasing his shareholder stake by lowering the prices for other shareholders. That would give the other shareholders a voice.

 https://www.nbcnews.com/business/business-news/twitter-elon-musk-takeover-poison-pill-to-prevent-hostile-takeover-rcna24607

https://www.reuters.com/technology/twitter-adopts-poison-pill-fight-musk-2022-04-15/

I find it interesting that Elon Musk is considered a 'hostile' takeover. I also consider him a hostile takeover and there should be antitrust laws or a law against conflicts of interest, or even a law to decrease the number of corporations a person can be top shareholder in. 

As of today, Elon Musk is no longer top shareholder of Twitter at 9.2%; Vanguard Group now owns 10.3% stake in Twitter. So now we have a sort of hostile corporate attempt to take over the social media giant. After learning a bit more about Vanguard Group and all the top shares they own around the globe, we should be concerned about this sort of thing. I'm extremely serious about this. We need to limit the number of corporations a person or group has top shares in. The big three Blackrock, Vanguard, and State Street own almost everything just by being top shareholders. That's scary to think about. It's these groups that lobby against everything good in the world like clean energy. These big three are very poisonous to the world, to politics, and should have no business in controlling social media. These conglomerates need to be broken up. 

https://www.cnn.com/2020/11/24/business/blackrock-vanguard-state-street-biden/index.html

 

Link to comment
Share on other sites

xD, majority of the people see Elon as a bad egg, but the truth of the matter is that, when you have excessive money, you'll always feel at the top that's the reason why Elon musk is acting at the current. 

Preventing him from increasing his future staking power is necessary, so, he wouldn't buy it up at once, let others have say at least. 

Link to comment
Share on other sites

Even if Elon Musk did buy a majority stake in Twitter, that's just one social media platform not a monopoly.  There's Facebook, Google, Instagram, TikToc, Linked In, Discord among many others that he wouldn't own.

Link to comment
Share on other sites

39 minutes ago, Crazycrab said:

Even if Elon Musk did buy a majority stake in Twitter, that's just one social media platform not a monopoly.  There's Facebook, Google, Instagram, TikToc, Linked In, Discord among many others that he wouldn't own.

Yeah you are right. My concern now is how many corporations a person or group can be a top shareholder in. Because top shareholders have the most sway in the company basically giving them decision making power. Do we want just a handful of people or groups to control it all? Plus, social media to me is a unique type of company that we should be concerned about who gets control of its operations, especially now in this hostile climate. 

Link to comment
Share on other sites

Posted (edited)

I find it interesting that a far right wing commentator and conspiracy theorist named Dinesh D'Souza was trying to get Elon Musk to buy up a major social media platform in order to 'dramatically change the political and cultural landscape,' he wrote on Twitter.

Dinesh D'Souza said this on Twitter Jan 28 2022: 

Tweets are fine @elonmusk but you can dramatically change the political and cultural landscape this way: 1. Buy and take over a major social media platform 2. Acquire or create a TV network like ABC, NBC or CBS 3. Create a world-class online university and offer degrees for free.

And Elon Musk replies on Twitter:

"Interesting ideas."

https://www.techtimes.com/articles/271177/20220128/will-elon-musk-buy-social-media-create-tv-station-establish-school.htm

Elon Musk seems to have taken the republican side of things. Maybe he's looking for a quick cash grab. Maybe his narcissism is setting in as he ages, maybe he's turned rogue; who knows why someone like that would want social media. But D'Souza's idea for Musk buying up a social media giant, TV network, and online university is a good enough reason for all of us to be concerned what is going on here. Twitter is at the forefront of corrupt rich entities wanting to take it over. And Twitter realizes that and that's why they are putting forth the poison pill strategy to prevent hostile takeover. 

Dinesh D'Souza also said this on Jan 3 2022 on Twitter:

"Elon Musk can afford to buy Facebook, YouTube and Twitter. Imagine if he did it and systematically censored Democrats and leftists. “We’re being silenced! Silenced!” The shrieks would be audible for miles. How speedily the other side would discover the imperative of free speech!"

FYI, Dinesh D'Souza also plead guilty for violating campaign finance laws and went to prison till Trump pardoned him. This same guy is advocating for Elon Musk to take over Twitter. It wouldn't sound like much if he was just blabbering on his shows, but the fact that Elon Musk is listening to him is scary. 

 

 

Edited by Reality vs Adventure
Link to comment
Share on other sites

Posted (edited)

It really does look more and more like a hostile takeover attempt of Twitter. Musk just threatened to cut Twitter board member salaries to $0 if he buys Twitter; and the poison pill plan that lowered the price of shares to other shareholders, Musk said that he would try to buy the stock directly from the shareholders to try and prevent the board members from not selling Twitter to him. 

At this point, for one of the richest men in the world to be this adamant for controlling Twitter and engaging in a bickering contest to woo republicans is nothing short of an attempt to corrupt a major social media platform. 

Edited by Reality vs Adventure
Link to comment
Share on other sites

The Elon musk should face it. It is alleged firstly, we'll get to know if what is been labelled against Elon is true or not. Monkeys shouldn't be maltreated, here in the article you shared it said: monkeys are been used for experiment by Neuralink, and they're tortured in the process, only time will tell while such experiment took place around monkeys. 

Link to comment
Share on other sites

Ron DeSantis, the governor of Florida who just banned math books in schools and banned talk of gender identity and sexual orientation in schools, and banned history and talk of race in schools, is now abusing his power and threatening to punish Twitter over their poison pill against Elon Musk because he believes republicans don't get free speech. He just called Twitter enforcing 'orthodoxy' and is a 'regime.' Yeah, the hypocrisy is deep there. This sounds all too familiar to some of us who witness right wingers go on attacks then try to claim to be a victim and have no free speech.

The state of Florida holds a state pension fund with almost a million shares in Twitter. I don't know exactly how DeSantis will try to punish Twitter, but using your seat of government to poltically punish a corporation is an abuse of power. Meanwhile DeSantis is also abusing his power for going after Disney and trying to punish them financially for criticizing his anti LGBTQ bills. 

 

 

Link to comment
Share on other sites

This situation with Elon Musk goes deeper and deeper. Musk used the same tactics on Tesla as he is now doing with Twitter. Tesla shareholders is suing Musk as well as the Securities and Exchange Commission is suing him for fraud due to tweets in 2018 where he said he want to buy off Tesla and make it private. Tesla is saying that Musk's tweets were fraudulent about buying Tesla because it costed the company billions of dollars while Musk kept toying with the stock market of the company as exactly what he's doing now with Twitter. Musk was ordered by the SEC to step down from chairman of the company but can continue to be CEO. 

Tesla is also being investigated in California for racial discrimination while Musk is CEO. 

These articles explain pretty well how Musk is a fraud that is scheming against company stocks and shareholders.

https://time.com/6168452/elon-musk-should-have-been-stopped-long-before-he-came-for-twitter/

https://fortune.com/2022/04/16/musk-being-sued-by-tesla-investors-for-tweeting-takeover-bid-they-say-judge-agrees/

 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now


×
×
  • Create New...