tifosi77's thread of Musk

Postby **blackjack68** » Sun Nov 20, 2022 7:42 pm

I don’t think that’s a rocket.

Postby **nocera** » Mon Nov 21, 2022 7:44 am

Wtf

Postby **NTP66** » Mon Nov 21, 2022 7:47 am

So edgy.

Postby **NTP66** » Mon Nov 21, 2022 7:48 am

"Why won't the US government give me a defense contract?!"

Postby **Gaucho** » Mon Nov 21, 2022 10:20 am

Postby **count2infinity** » Mon Nov 21, 2022 10:37 am

Piracy is just free speech, baby!

Postby **shafnutz05** » Mon Nov 21, 2022 11:30 am

I am going to continue with my bizarre, insane theory that the Saudis are paying Musk to destroy Twitter.

Postby **Lemon Berry Lobster** » Mon Nov 21, 2022 11:53 am

You wouldn't download a car.

Postby **dodint** » Mon Nov 21, 2022 11:56 am

NTP66 would download a Type-S.

Postby **NTP66** » Mon Nov 21, 2022 12:09 pm

**** yeah I would.

Postby **tifosi77** » Mon Nov 21, 2022 1:08 pm

I am going to continue with my bizarre, insane theory that the Saudis are paying Musk to destroy Twitter.

Is Tesla included in this deal? Cos the car company is collateral damage.

Postby **dodint** » Mon Nov 21, 2022 2:16 pm

Postby **eddy** » Mon Nov 21, 2022 2:51 pm

That's just how Elon does business

Postby **MalkinIsMyHomeboy** » Mon Nov 21, 2022 4:22 pm

I am going to continue with my bizarre, insane theory that the Saudis are paying Musk to destroy Twitter.

it has to be something. I just cannot believe that Musk would spend what he spent to buy Twitter and then make these awful business decisions and tank the value just for funsies. Or that he's so stupid that he made these terrible decisions without knowing he'd kill the value

Postby **Willie Kool** » Mon Nov 21, 2022 4:28 pm

I am going to continue with my bizarre, insane theory that the Saudis are paying Musk to destroy Twitter.
Is Tesla included in this deal? Cos the car company is collateral damage.

They did sell almost all their Tesla holdings a couple years ago, and do hold a majority interest in Lucid...

Postby **Troy Loney** » Mon Nov 21, 2022 4:35 pm

The Saudis are perfectly happy dumping money on to the laps of influential people in the US (see Kushner, LIV golf/Trump)

Not really any need to examine their motives, they're pretty transparent. I am more confused by the banks that are in position to lose money on this deal. The people making those lending decisions are supposedly accountable, how did they decide it was okay to burn billions for no reason than to let Elon play boss at Twitter?

Postby **tifosi77** » Mon Nov 21, 2022 4:40 pm

What constitutes 'due diligence' on that kind of financing?

Postby **Troy Loney** » Mon Nov 21, 2022 4:49 pm

What constitutes 'due diligence' on that kind of financing?

Exactly, right?

I would place it in the same category as Deutche Bank dumping money into failed Trump real estate projects because they viewed their relationship with Trump as more important than traditional underwriting methods.

Would love to hear another explanation here no? Did Elon pledge tesla stock as collateral? Or did they just get someone to prepare some pro-forma income statements that showed the "Elon touch" boosting twitter's revenue so that they could easily cover the new debt payment?

Postby **Trip McNeely** » Mon Nov 21, 2022 5:06 pm

The Saudis are perfectly happy dumping money on to the laps of influential people in the US (see Kushner, LIV golf/Trump)

Not really any need to examine their motives, they're pretty transparent. I am more confused by the banks that are in position to lose money on this deal. The people making those lending decisions are supposedly accountable, how did they decide it was okay to burn billions for no reason than to let Elon play boss at Twitter?

Supposedly none of the banks thought there was any chance the deal would happen…then it did

Postby **Gaucho** » Mon Nov 21, 2022 5:17 pm

Postby **MrKennethTKangaroo** » Mon Nov 21, 2022 5:45 pm

One thing I will say with certainty is that none of the primary banks in the deal planned on holding $13 billion in debt.

For a deal this risky, almost all of the loan exposure gets sold off to mutual funds, hedge funds, pensions, junk bond funds, really any kind of fund willing to take risk to make earn a few more bucks in Interest.

Basically, it's the same concept as selling off mortgages to mortgage backed securities.

The problem for big banks in this deal is that from the time musk agreed to buy Twitter a few months ago to the time the deal closed, the markets for risky debt seized up because of Fed interest rate hikes.

So now, in order to sell of this debt, these banks would have to report hundreds of millions in losses because they would be selling the debt on a discount. Wsj timed up to 900 million of losses. So they holding onto it and hoping for the best

Postby **tifosi77** » Mon Nov 21, 2022 6:56 pm

What constitutes 'due diligence' on that kind of financing?
Exactly, right?

I would place it in the same category as Deutche Bank dumping money into failed Trump real estate projects because they viewed their relationship with Trump as more important than traditional underwriting methods.

Would love to hear another explanation here no? Did Elon pledge tesla stock as collateral? Or did they just get someone to prepare some pro-forma income statements that showed the "Elon touch" boosting twitter's revenue so that they could easily cover the new debt payment?

For some reason I can't unsee the scene in The Big Short where Ryan Gosling says "Show me the difference between stupid and illegal". There's more to the joke in the movie, but I think you get my meaning.

Edit: Didn't see Roo's post there, I guess I'm sort of barking up the right tree. lol

Postby **MR25** » Mon Nov 21, 2022 6:58 pm

So how can I Big Short the banks on Twitter and get rich?

Postby **nocera** » Mon Nov 21, 2022 7:04 pm

I don’t know but you could upload The Big Short in 49 separate tweets apparently.