Social media

[In2ition]

[Indy]

The board tricked him into paying 11B more for the company than it was worth.

The board doesn't care who owns it. They get their money by shares/options.

[In2ition]

The board tricked him into paying 11B more for the company than it was worth.

The board doesn't care who owns it. They get their money by shares/options.

Do you know how many shares the board owns?

[In2ition]

There is a claim that the board owned a whooping 77 shares between the entire board.

[Indy]

They don't own a high percentage, but you don't need to in order to make tons of money. Dorsey obviously owns the most as a member of the board, and I think his is like ~3%. Or now 1.3B (which would have been about 400,000,000 less before Musk offered to buy them). I saw someone else on the board owns over 100,000,000 worth of shares. At 53/share that would mean something like 2,200,000 shares by just him.

But every shareholder just increased their share value by 38%.

[Nodack]

I have never been on Twitter. How does this affect me?

Lol

[In2ition]

They don't own a high percentage, but you don't need to in order to make tons of money. Dorsey obviously owns the most as a member of the board, and I think his is like ~3%. Or now 1.3B (which would have been about 400,000,000 less before Musk offered to buy them). I saw someone else on the board owns over 100,000,000 worth of shares. At 53/share that would mean something like 2,200,000 shares by just him.

But every shareholder just increased their share value by 38%.

I didn't see that. Do you know which board member that is that owns over 100,000,000 worth of shares?

Good for the shareholders to get their value out of it.

According to this article, his offer of $54.20 per share was valued at $43 billion, so he increased his offer by $1 billion? Is that right?
https://www.businessinsider.com/elon-mu ... ers-2022-4

[In2ition]

I have never been on Twitter. How does this affect me?

Lol

There is a @nodack that's had their account since 2009. They only have 13 followers, and looks like they may be Brazilian. You could see if you could get their account.

J/k

It probably doesn't affect you. It's hard to tangibly measure how much it will affect any of us yet.

[Indy]

The stock was trading at $38 per share before he announced he was buying a bunch of stock and trying to get on the board or buy the company. At 38/share the company was worth 11B less than the 43B (I didn't realize he upped it again to 44B). So he paid 12B more than it was worth 2 weeks ago.

[In2ition]

The stock was trading at $38 per share before he announced he was buying a bunch of stock and trying to get on the board or buy the company. At 38/share the company was worth 11B less than the 43B (I didn't realize he upped it again to 44B). So he paid 12B more than it was worth 2 weeks ago.

When you have money to burn...I guess.

[Nodack]

I have never been on Twitter. How does this affect me?

Lol

There is a @nodack that's had their account since 2009. They only have 13 followers, and looks like they may be Brazilian. You could see if you could get their account.

J/k

I must be getting old. Social media apps don’t do anything for me.

[In2ition]

I have never been on Twitter. How does this affect me?

Lol

There is a @nodack that's had their account since 2009. They only have 13 followers, and looks like they may be Brazilian. You could see if you could get their account.

J/k

I must be getting old. Social media apps don’t do anything for me.

This is a form of a social media app, but I understand what you're saying.

[In2ition]

Why is the app formatting posts this way?

[Nodack]

I definitely see a lot of Twitter posts posted here a lot. Sometimes I click on them to read and after about :30 a pop up appears wanting me to sign up and I doesn’t let me view the posts anymore at that point.

[In2ition]

So there is some hand wringing by some conservatives that think that Elon buying Twitter is going to hurt Truth Social. They think they are going to be safe on Twitter again, only to get the rug pulled out from under them in the future and turn their back on Truth Social or GETTR(haven't even looked into this app).

I know Mori has had a bit of schadenfreude over Truth Social's beta roll out, and how it's been a disaster. Late last week, it was reported that they finally were able to get their own server farm up and running, and claim to now be entirely independent of Big Tech, so they can't get shut down by whoever. I know my oldest and youngest sons both were let onto the app, after being on the waiting list for months. I haven't seen it yet, but it's certainly not as dead as was being reported earlier.

They still don't have an Android version or a web version that I can tell yet, so it's still got a ways to go in the beta testing, imo.

[In2ition]

This is kind of funny, but not sure what this will do. Indy, what do you think? I think you may have a better understanding of the consequences.

[Indy]

230 needs changes, but not repealing it. As written, it gives social media companies immunity for anything their users say. The thinking was it is too unwieldy to require every post from every user to be reviewed and approved by the company. If they don't review/approve them, and there wasn't a 230, Elon/Zucker/Mori would all be liable for all content shared by users of their sites. So that clearly won't happen, and why it was so absurd when Trump kept screaming that it needed to be repealed.

But there should be some level of accountability, and the reason sites like Youtube and Facebook and Twitter have rules around what can be posted and algorithms to find violative posts is because they don't want any changes to their immunity status. They shouldn't be immune; but it isn't realistic to hold them responsible for user content the second it goes live.


Oh, and Psaki didn't say anything about repealing it. She talked about reforming the language in 230 to ensure big tech has some level of accountability.

[In2ition]

You're right. Psaki talked about reforming it, not repealing it. It is interesting that the reforming talk all of a sudden happens from Dems after Elon buys Twitter.

[In2ition]

Interesting analysis.

[Indy]

You're right. Psaki talked about reforming it, not repealing it. It is interesting that the reforming talk all of a sudden happens from Dems after Elon buys Twitter.

You have your facts wrong again. Biden has been talking about it for at least 2 years.