Article

2022-04-17 -Great Cultural Revolution

Twitter Board of Directors Own Almost No Shares of Stock in Company, Elon Musk Notes "their economic interests are simply not aligned with shareholders"

[Last Refuge]

Elon Musk is in for a bad time.

I’m not sure he’s prepared to take on a couple PhDs, a few MBAs, and a Baroness who use Twitter once a year (to reset their passwords) and collectively own 77 shares of the company. pic.twitter.com/sJmKwHbzVh
— Chris Bakke (@ChrisJBakke) April 16, 2022

Twitter is not making a decision to decline the generous offer by Elon Musk because of stewardship or fiduciary responsibility to shareholders. The financials of Twitter as a non-viable business model highlight the issue of money being irrelevant. Twitter does not and cannot make money. Growing Twitter only means growing an expense. Growing Twitter does not grow revenue enough to offset the increase in expense.

There is only one way for Twitter to exist as a viable entity, people are now starting to realize this.

What matters to the people behind Twitter, the people who are subsidizing the ability of Twitter to exist, is control over the global conversation.

Control of the conversation is priceless to the people who provide the backbone for Twitter.

Once people realize who is subsidizing Twitter, everything changes.

That’s the fight.

Posted by Frank G 2022-04-17 08:03|| || Front Page|| [17 views ] Top
File under: Tin Hat Dictators, Presidents for Life, & Kleptocrats

#1 Sort of like the Texas energy board member living in Florida when the big freeze out hit.

Posted by Procopius2k 2022-04-17 09:11|| 2022-04-17 09:11|| Front Page Top

#2 ...absentee landlords.

Posted by magpie 2022-04-17 11:36|| 2022-04-17 11:36|| Front Page Top

#3 For all the pretension about the fiduciary duties of board members, it's a giftie job, like an ambassordship. You get it because someone owes you. When the SHTF, they point at the outside accounting firm. Ask all the ones that died on that sword already.

Posted by M. Murcek 2022-04-17 12:12|| 2022-04-17 12:12|| Front Page Top

#4 How many Theranos board members are looking at jail time?

Posted by M. Murcek 2022-04-17 12:15|| 2022-04-17 12:15|| Front Page Top

#5 But maybe Musk's interests are aligned with the US government's?

SpaceX launches NROL-85 spy satellite for U.S. National Reconnaissance Office

Posted by DooDahMan 2022-04-17 12:27|| 2022-04-17 12:27|| Front Page Top

#6 To be fair, the baroness is only a life peer. Properly she is Martha, Baroness Lane-Fox of Soho.

Posted by trailing wife 2022-04-17 12:29|| 2022-04-17 12:29|| Front Page Top

#7 I see an Atlas Shrugged scenario. They put him in prison and then tell him to save their asses.

Posted by M. Murcek 2022-04-17 12:29|| 2022-04-17 12:29|| Front Page Top

#8

When I last looked at the Top 5 shareholders for Twitter last week most of the owners were Stock Trading/holding companies and Mutual Funds.

I guess they select who they want as a Board Member?

Posted by NN2N1 2022-04-17 19:17|| 2022-04-17 19:17|| Front Page Top

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