He has rallied the support of other major shareholders such as Saudi Prince Alwaleed bin Talal (perhaps not the best ally if the competition is about who “stands for democracy” since the Saudis have never been particularly keen on the idea ), and may well adopt a poison pill defense to protect his independence.
It promises to be thrilling for the participants and great fun for the rest of us. There is a problem, however, and it is far from minor. Tesla may well be a casualty of the battle.
Taking control of Twitter will be extremely controversial. The company will not go down without a fight. To gain control, Musk will have to spend the next few months cooped up with his bankers, lawyers and public relations activists figuring out how to win over shareholders.
It’s not just that it’ll be expensive – the roughly $40 billion he’ll end up costing won’t make a massive dent in his estimated $240 billion fortune, even if he’ll have to sell Tesla stock for the finance – it will also be very time consuming.
At a time when Tesla is expected to seize the opportunity presented to it by soaring oil prices and an energy crisis, to cement its dominance over the electric vehicle industry, its founder is distracting himself with a chimerical pursuit of what is , comparatively, a small matter. It’s hard to believe that Tesla isn’t going to suffer. Every business needs a manager, and Musk will be away for months.
Next, Twitter is a fiercely controversial space. The technical term in clinical psychology for its average user is “batsh!&t crazy”. Most social media can be harmful, but it’s also relatively harmless.
Facebook is mostly used to keep up with friends and family, Instagram to post photos of what everyone’s eating for brunch, Snapchat to get teens nervously flirting with each other, and WhatsApp to text your mom.
Twitter is where the world comes together for bitter political fights. It is characterized by a hysterical form of left-wing virtue signaling that anyone slightly to the right of Lenin is dismissed as a Nazi.
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Source: www.telegraph.co.uk
This notice was published: 2022-04-17 10:00:00
