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2022-04-11 -Great Cultural Revolution

Elon Musk Is NOT Joining the Twitter Board After All, and That's Good News

[PJMedia] In a surprise reversal, Twitter top dog Parag Agrawal tweeted Sunday night that gazillionaire and free speech advocate Elon Musk would not be joining Twitter’s board of directors after all. While at first glance this appears to signal that Musk will not be able to turn the social media giant away from its determination to silence voices that dissent from the far-Left’s agenda, it could turn out to be very good news for those who are concerned about the social media behemoths’ outsize influence over the public discourse in America today.

Agrawal announced: "Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here." In the appended note, Agrawal wrote: "Here’s what I can share about what happened," suggesting immediately that what happened was far more fiery and dramatic than what he was letting on. "The Board and I had many discussions about Elon joining the board, and with Elon directly," Agrawal continued. "We were excited to collaborate and clear about the risks. We also believed that having Elon as a fiduciary of the company where he, like all board members, has to act in the best interests of the company and all our shareholders, was the best path forward. The board offered him a seat." Clearly Agrawal and the other Twitter bosses thought that a seat on the board would constrain Musk: he would have to "act in the best interests of the company." The Lilliputians would have had Gulliver effectively tied down. But no such luck.

Posted by DarthVader 2022-04-11 10:13|| || Front Page|| [11 views ] Top

#1 Twitter bans Bill Clinton rape accuser Juanita Broaddrick for 'spreading misleading and harmful information' over Covid-19

Posted by Skidmark 2022-04-11 10:53|| 2022-04-11 10:53|| Front Page Top

#2 "Twitter top dog Parag Agrawal" , all you need to know about what needs to change. Just read his latest comments on the first amendment to see what a subversive agent of a foreign power thinks.

Posted by NoMoreBS 2022-04-11 12:08|| 2022-04-11 12:08|| Front Page Top

#3 "Elon has decided not to join our board."

Implying it was his decision alone. Who wants to bet the real explanation is 'the other board members threatened to quit en masse' or some such?

Posted by Raj 2022-04-11 13:40|| 2022-04-11 13:40|| Front Page Top

#4 By not joining the board, Musk is not limited to owning a maximum 14.5% stake.

Posted by M. Murcek 2022-04-11 13:48|| 2022-04-11 13:48|| Front Page Top

#5 Raj, IIRC if he were a board member, he would be limited to some small percentage of stock - somewhere around 14-15% IIRC.
So maybe his secret goal is to slowly work up to 50.1% of stock. Then he can really clean house.

Posted by Rambler in Virginia 2022-04-11 13:50|| 2022-04-11 13:50|| Front Page Top

#6 Thank you both - I didn't know Musk had mad fakeout skillz like this!

Posted by Raj 2022-04-11 14:21|| 2022-04-11 14:21|| Front Page Top

#7 IIUC he also can't be slammed by the SEC for speaking out against Twitter if he's only a shareholder and not on the board (like they are on him about his comments re: Tesla)

Posted by Frank G 2022-04-11 14:40|| 2022-04-11 14:40|| Front Page Top

#8 Why would he exceed the 10% threshold? That would be stupid and end up putting him in prison, given his own chant for saying stupid shit about his stock trades on, uh, Twitter.

10% makes you a Qualified Investor. Much more stringent 13G disclosure rules than if you stay under 10%: once a year (by Valentine' Day, heh) instead of every month:

"Currently, Qualified Institutional Investors who beneficially own up to 10% of the relevant class are only required to file a Schedule 13G by February 14 of the year that follows the triggering event. If, as of the end of any month, a Qualified Institutional Investor’s beneficial ownership exceeds 10%, it is required to file within 10 calendar days of the end of such month.

Posted by Kofi the Obscure8089 2022-04-11 14:49|| 2022-04-11 14:49|| Front Page Top

#9 If Musk is on Twitter's board, he has a fiduciary duty to the company, which can make things like disparaging remarks problematic. If he's not, then his duty is to his own investors, which might be just himself if he's using his own capital.

Posted by Nero 2022-04-11 16:19|| 2022-04-11 16:19|| Front Page Top

#10 He should sell his stock and buy into Trump's new media platform.

Posted by ruprecht 2022-04-11 17:02|| 2022-04-11 17:02|| Front Page Top

#11 More detail:

https://thepostmillennial.com/elon-musk-signals-that-he-was-told-to-play-nice-and-not-speak-freely-by-twitter-board

Posted by Nero 2022-04-11 18:07|| 2022-04-11 18:07|| Front Page Top

#12 Only a couple people have asked me if I was going to sign up for Trump's social media platform. No, I told them, I'm not interested in social media regardless of who's fronting it.

Most of what I've read so far (what little is being said) says it's off to a s l o w start.

Posted by M. Murcek 2022-04-11 18:11|| 2022-04-11 18:11|| Front Page Top

#13 ^ What I forgot to add to the comment above is, I don't see Trump's media thingee as a good investment for Musk, or anyone else.

Posted by M. Murcek 2022-04-11 18:13|| 2022-04-11 18:13|| Front Page Top

#14 Twitter used to be a good thing in this world.
Tweetdeck was the only reason I chose twitter. All other platforms with no columns like this are crap. Faceburg is by far the shittiest platform known to man yet everyone copies them.

If I cannot stream information without a mouse, your platform sucks ass.I want everything a vertical stock ticker so to speak. Otherwise, it is a waste of your time.

The left destroys everything.

In either case with Musk, I appreciate him and I AM Entertained!

Posted by newc 2022-04-11 18:54|| 2022-04-11 18:54|| Front Page Top

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