this post was submitted on 30 Nov 2023
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he said. “We’ll be gone, and it’ll be gone because of an advertiser boycott.”... eeer, no.

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[–] [email protected] 6 points 1 year ago (1 children)

No that's not how leveraged buyouts are structured. Musk isn't on the hook for the loans, Twitter the company is (basically, Twitter took on debt to help buy its former shareholders out).

[–] xmunk 6 points 1 year ago (2 children)

Precisely, Musk has no personal risk for destroying Twitter. It's absolutely fucking insane how much free money we give rich people.

Oh, and one of the reasons Twitter will inevitably fail is because of the massive interest payments the company accepted during the purchase.

[–] [email protected] 1 points 1 year ago (1 children)
[–] xmunk 1 points 1 year ago

Lots of people lose their jobs, something that was once a public service is shut down... and Elon Musk's reputation takes a minor hit that's quickly forgotten.

[–] [email protected] 1 points 1 year ago

Oh, no. Musk has $20b in Tesla stock guaranteeing the loans. He could lose control of Tesla if X fails.