Waldo JaquithI know it's fun to be flippant or dismissive about Musk demolishing Twitter (and it is legitimately fun), but I am among those whose life trajectory was radically altered by Twitter, almost entirely for the best. I follow 272 people on Twitter, and there are another couple of hundred people who I don't follow but check in on, and hundreds more who I have discussions with often...and the loss of that social group is sad. I'm grateful that many of those folks are moving to Mastodon.
Peter Griesar@waldoj having a difficult believing the twitter narrative that he bought twitter with no real plan and is just winging it because a long list of allegedly serious banks and investors financed it. So if he’s destroying it right now instead of executing a plan he’s making some powerful folks angry. And if this was the plan all along then wow $44 billion comes with no due diligence. What does that mean for confidence in the larger tech economy?
@griesar I think the simplest explanation (and most likely) has to be that he thought this would be a cakewalk, and that he alone could fix things. Also, he didn’t *want* to buy Twitter, but was forced to. But I remain pretty suspicious of the alternatives!
@waldoj other investors and the banks weren’t forced though. So why would they back him with no real plan?
Jeff Uphoff@griesar @waldoj My understanding is that their initial commitments to the deal, when the tender offer was first made, didn't allow them to back away, so they were stuck glued to him once this thing headed toward litigation. Due diligence early on was probably along the lines of, "Look at how much money he's made already running companies." So much capital flows based upon reputation, "experience," and hand-shaking...