Both investors and Tesla owners are likely to sue Musk over moving 50 engineers over to Twitter. Musk’s Shift of 50 Tesla Engineers to Twitter May Have Serious Legal Repercussions https://www.thedetroitbureau.com/20...twitter-may-have-serious-legal-repercussions/
lighten up Francis...I was making a joke.. but Musk did overpay for twitter...that.part is right. $44 billion for a company with $5 billion in revenue and couple hundred million in net income or loss depending on how reported. Is that intelligent enough for you? The purchase price makes.no sense paying almost 10 times revenue and a skinny bottom line. based on ad revenue in a possible declining economy while his tesla stock.looks ready to.drop. I have not seen anything that makes financial sense for tesla or twitter in this transaction.
Musk never believed in following federal law. His plans at Twitter are just a continuation of his deliberate flaunting of the legal system. Twitter employees file lawsuit claiming mass layoffs violate federal law requiring notice https://www.foxbusiness.com/technol...-layoffs-violate-federal-law-requiring-notice
At this point it may be easier to simply list out the major companies who are still advertising on Twitter. Pfizer And General Mills Among Companies Suspending Twitter Ads After Musk Takeover: REPORT https://dailycaller.com/2022/11/03/pfizer-general-mills-twitter-ads-musk/ And this should be a reminder that advertising provides 90% of Twitter's revenue and that large firms represent approx, 80% of that pool of advertising funds.
"So how did you find out you were laid off from Twitter?" "Well, I was locked out of my email account." "Then how are they going to deliver the email informing you about your termination?" "Don't know". "Well since they temporarily closed all the corporate offices and suspended badge access, it's not like you can go to the office to sort things out. You know, sign any termination paperwork or anything". https://www.cnn.com/2022/11/03/tech/twitter-layoffs/index.html BTW - anyone look up the definition of clusterf@ck in the dictionary recently?
Actually most mass layoffs at Tech companies very carefully follow the WARN act with proper filings, notice periods, etc.
Okay. well it will be another area for you to be butthurt then. Either way, the employees are gone. They may get some severance, and whatever they are entitled to by law is fine. As I said though, I need to hear from Elon's attorneys before forming a view. I had deleted my post anyway because I have more to say but legal arguments during the opening bell are not a good combination. The employees should assert any rights they have, and Elon as well. If elon has to pay severance, well then, he may have to lay off more employees to cover that expense. Not sure that is the desired outcome.
Speaking of useful, I heard Musk clipped The CFO due to spending excess hrs on Elitetrader and posting endless Desantis retweet’s.
There is only one real issue I care about in regards to Musk taking over Twitter -- violence in America. Social media platforms have been used to promote hate and violence in our society. This hate & violence coupled with deliberate misinformation impacts my community and our daily lives. Prior to Musk's arrival Twitter did it's best to eliminate hate and misinformation that promotes violence on its platform. Now that Musk has taken over -- he is scaling back moderation greatly, personally intervening to allow banned posters who promote hate back on Twitter, and claiming he will allow many other banned posters back on Twitter -- including Trump. There was a reason all these clowns were banned from Twitter -- especially after January 6th as a clear lesson. Musk's "freeing the bird" is about turning our country into a hellscape. To many people his plans are unacceptable and dangerous to democracy. I could really care less if Twitter goes down the toilet financially, lays everyone off, or loses most of its advertising revenue after being taken over by an ego-maniac. I just don't want our entire country flushed down the toilet as well via the promotion of hate & violence on the platform.