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
Does the US-legal F1 have the front-center driving position?
If so that'd be such a petty Musk thing. Make Thiel sit squished in the back.
The Wikipedia article says the "Ameritech" federalized F1s had the side seats removed. Which would be even worse.
Don't get me wrong, I'm shedding no tears for Thiel.
John Bull
Jonathan Hendry