I think about that time when Musk bought a McLaren F1 for $1 million and then drove it into a ditch in an attempt to show off. According to Max Chafkin's TheContrarian, Musk said that he had read about people who made money and bought sports cars. I didn't have insurance because I knew it wouldn't happen to me.
Musk is trying to get more investors for the company at the original $54.20 per share price he bought the company at before he scared away advertisers and banned a bunch of journalists.
I'm not sure if I feel that way. I feel like I'm losing my mind.
Remember how Musk tried to back out of the deal when he bought the company at $54.20. Is anyone able to recall that? He accused the social networking site of making false and misleading statements during their negotiations. There was a flimsy pretext of bots involved, but it was clear that none of that was going to fly, and Musk closed his account at the end of October.
Is that not true? Remember the third quarter earnings call fromTesla? Musk said he and other investors were paying too much for the social networking site. He wants more investors to overpay.
Ross Gerber is on the record as saying that he was contacted yesterday about another funding round, but he had already dropped some nonzero but less than $1 million on the social media platform. You will be happy to know that Gerber is considering the generous offer to put more money into an asset the owner says is overpriced. He could be accused of creating value or destroying value at the social networking site. It is difficult to tell at this time.
I'm not sure if I feel that way. I feel like I'm losing my mind. The format of Semafor doesn't help because we getLiz's view.
Asking investors to pay full price for an asset whose value is rapidly collapsing is going to be a tough sell. Musk may have ideas that will save Twitter and clean up social media, but he’s running out of runway to do it.
Semafor's signature formula has broken that out, so I can think about it. I want to do my own version.
Can we stop pretending that this is nothing but flailing? There is no insurance for the crash of the McLaren.
It is possible that Musk is getting margin called on some of his loans as the price of his shares falls, or that he is planning to buy or personally pay the debt of the social media company.
It would be better for him to buy some of the debt that his banks are going to write down. Musk has taken innovative steps, such as no longer paying rent on some of the office space, and stiffing vendors, because of the dire financial state of the company.
Some of you people are not ready for interest rates to go down.
Musk has been selling hisTesla shares. We apologize for the mistake.
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