Josh Sternberg

Rome falls slowly, then all at once:

NYT: "To cut costs, Twitter has not paid rent for its San Francisco headquarters or any of its global offices for weeks, three people close to the company said. Twitter has also refused to pay a $197,725 bill for private charter flights made the week of Mr. Musk’s takeover, according to a copy of a lawsuit filed in New Hampshire District Court and obtained by The New York Times."

https://www.nytimes.com/2022/12/13/technology/elon-musk-twitter-shakeup.html

Musk Shakes Up Twitter’s Legal Team as He Looks to Cut More Costs

Twitter has stopped paying rent on offices and is considering not paying severance packages to former employees, among other measures.

The New York Times
Dec 13, 2022 at 9:27pmWeb
Show threadPeter PrincipleDec 13, 2022
@joshsternberg Positively Trumpian. When the going gets tough (or even if it doesn't) stiff your suppliers.
Show threadWiredfire Dec 13, 2022

@joshsternberg to its credit, Twitter is hanging on longer than I originally thought. Always felt like a stay of execution though.

Advertisers running away, talent mostly gone, numerous potentially costly legal challenges coming up, but hey they'll be upping the post limit to 4000 characters so yay?

I really can't see it lasting long now. Though I expected a dramatic technical failure but simply running out of money will do the trick.

Show threadSouthSalitoDec 13, 2022
@wiredfire @joshsternberg
It barely made a profit before. Now it’s buried with massive debt and at least less than half of its revenue… 😬
Show threadChris BroomeDec 13, 2022
@wiredfire @joshsternberg it’s really a credit to the pre-Musk Twitter org that they built a resilient application.
Show threadElisaCPDec 13, 2022
@joshsternberg The Tr*mp comparisons write themselves.
Show threadVoronDec 13, 2022
@joshsternberg if a poor person doesn’t pay rent they are on the street. A billionaire oh well 🤷‍♂️
Show threadGuitarGirlDec 13, 2022
@joshsternberg He was sent to destroy it.
Show threadKIAKAHADec 13, 2022
@joshsternberg no trends all evening, the vibe is one of decay
Show threadbbennettesq Dec 13, 2022
@joshsternberg called it.
Show threadJack IversDec 14, 2022
@joshsternberg “How did you go bankrupt?"
“Two ways. Gradually, then suddenly.”
Ernest Hemingway, The Sun Also Rises
Show threadLorian TaylorDec 14, 2022
@joshsternberg He can afford 44 billion but can't afford to pay the rent? I hope they close him down!!
Show threadJohn SchofieldDec 14, 2022
@joshsternberg Really looking forward to the moment Pinboard buys Twitter for $10k. https://www.dailydot.com/parsec/pinboard-delicious-2017-fandom-fanfic/
Pinboard just bought Delicious, which brings a wild story full circle

Bookmarking sites Pinboard and Delicious were rivals for years. Pinboard came out on top, and its partly thanks to fanfiction.

The Daily Dot
Show threadListen OccasionallyDec 14, 2022

@joshsternberg I don't mean to defend this feckless turd, but I used to work in distress PE, and not paying rent is a fairly effective way to re-negotiate lease sin some cases

Though based on his recent track record, I don't get the sense he's played through the strategic steps to make that happen effectively...

Show threadListen OccasionallyDec 14, 2022

@joshsternberg Based on how he mucked up the layoffs and walked into massive WARN liabilities, I'd bet he didn't scrub the leases for security interest or guarantees. Or who the landlords are.

When you default the Blackstone's of the world they sue for eviction and full payment as soon as possible!

Show threadkira :3Dec 14, 2022
@joshsternberg elon in another week or two: "we are being cancelled by our woke leftlist coastal elite landlord"
Show threadFrench TexPatDec 14, 2022
@joshsternberg playing a trump hand, i see...
Show threadEl Diablo Roboc 😈🤖Dec 14, 2022
@joshsternberg an apt disciple of the Former Guy
Show threadReverend BlairDec 14, 2022
@joshsternberg Wll, Elon knows the rules. Can't pay the rent, move out.
Show threadCharlotte OdoyleDec 14, 2022

@joshsternberg

Musk is also "reconsidering severance payouts" after firing people at the holidays, and auctioning off used furniture and coffee makers.
#ThisIsFine

Show threadUnprecedented 2023Dec 14, 2022
@joshsternberg Must be he is taking advice from Drumpf. Let them sue if they want payment.