I'll do a thread tomorrow on the X dot com/Paypal merger because I think it's really important to understand how that went down to know why Musk is STILL salty about how X died (and about Peter Thiel) now.
But in the meantime, here is a quick, but telling, story called:
That Time Elon Totalled his McLaren F1 While Trying to Show Off in Front of Peter Thiel /1 🧵 #history #technology
It's the year 2000.
X and PayPal are fighting over the pay-by-email market. Both are burning cash through user signup offers so fast that a merger becomes inevitable (I'll cover all this in tomorrow's thread).
Musk (X) is REALLY not happy about this merger. He wants to WIN the war between the companies.
Thiel (PayPal) is happy. He HAS won from his perspective. He wants a merger into a super-company as that's where he sees the profit. /2
Indeed Thiel had seen the writing on the wall, as did Bill Harris (formerly of Intuit) who had become X's CEO after Elon (its biggest investor) stepped back to the CTO role.
This merger is Thiel and Harris' baby and they have created to save both companies and make lots of money, and ensure a final good funding round before the Dot Com bubble bursts.
Elon HATES it. But he has no choice. Harris has bullied Elon into it by threatening to quit otherwise. No Harris and investors panic. /3
Anyway. Elon (a lover of cars) has a BEAUTIFUL McLaren F1. One of only 7 legal to drive in the US at the time. He regularly drives it to work.
And today, Musk and Thiel are to meet Mike Moritz of Sequoia and sell him on the merger, alongside Harris.
So Musk offers to pick Thiel up. Thiel agrees as X and Paypal have offices close together.
Elon turns up in the McLaren F1. /4
Musk and Thiel have a growing dislike of each other, even at this point. But Thiel knows they need to prep for the meeting and have got t work together.
So fine. Let's do this in the supercar we're apparently going to this meeting in. Whatever.
Except as they drive, all the can do is talk awkwardly about the car /5
And, as they're driving up Sand Hill Road in Menlo Park awkwardly talking about the damn car, Thiel ends up half-heartedly saying:
"So what can this thing do?"
"Watch this." Says Elon and does the WORST THING you can do in an McLaren F1.
He slams down the accelerator and tries to changes lane. /6
McLaren F1's are not normal cars. They are lethal works of art. They are racing cars DISGUISED as barely-legal street cars.
They lack all of the regular things - such as driving aids and traction control - designed to stop average people from fucking themselves up while driving them.
McLaren F1s are built on the presumption that you understand risk and driving, and that they assume you will not be an idiot. /7
John Bull
Dave T-W