this post was submitted on 17 Aug 2023
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Well - 79% of 'the almighty shareholders' is Elon Musk, and I somehow get the impression that as long as he is convinced that he's doing exactly the right things nothing will change. The next biggest stakeholders are Saudi prince Alwaleed bin Talal (5.7%), Oracle founder Larry Ellison (3.0%), Jack Dorsey (3.0%), Sequoia Capital (2.4%), and Vy Capital (2.1%) - and they've all been publicly silent on the topic of twitter self destruction - I think they've transitioned into train-wreck mode where they are in such disbelief about what they are witnessing that they aren't able to articulate opinions about it.
Dorsey agrees with Musk on this stuff. He has said before that he didn't want to ban Trump after J6 and that he was against banning Nazi accounts, but did it because it was a public company, and they kinda had to.
Now he and his buddies are trying to roll out their own social media protocol, bluesky, which is built specifically to not allow Nazis to be banned.
Maybe they are all shorting it big in their alt accounts because they know that the SEC fines will be trivial next to the money they will make. Also, that not a single one of them would see the inside of a court room.
Pretty sure you can't short a private company. It has to be traded on a public exchange to short sell it.
I didn't realize that they delisted it after he bought it.