Jump to content

Elon Musk: Officially a fraud and piece of shit. Official or unofficial war criminal?


MaybeACoordinator

Recommended Posts

  On 6/3/2022 at 3:05 PM, Captainant said:

Yeah one of the women I work with has been WAY more productive than ever, and she's actually gotten to be a good mom to her kids too. Just having the increased flexibility has made a world of difference for there to not be an expectation of being in the office at a set time every day

Expand  

I should add, she now has employees living about 80 miles from where their office would be. She wouldn't be able to hire those people before because of the commute. And guess what, traffic or car trouble are no longer an excuse to miss work.

 

Also, she has one worker whose mom is getting cancer treatment in Houston (we're in Dallas). Instead of having to take a week off (and use her vacation days and such) she's able to work from her hotel room and still take care of her mom.

 

Edited by Jameslaw121
  • Hook 'Em 1
Link to comment
Share on other sites

I can definitely see some jobs requiring people to be in the office. However if you're in a role that regularly requires you to communicate via phone or email with others, the job could easily transition to work from home. What's the difference as long as you have an internet connection, which isn't much of a hurdle for most.

At a previous job, within a cube farm, the next team over had a boss that measured day-to-day productivity if your butt was in your chair.  This was about 20 years ago, and he was probably in his mid 50s at the time. That was how he was brought up in the company, and he carried that over once he was promoted. And it wasn't even a question of working from home everyday. This was even if you wanted to work from home for 1 specific day with advance notice.  If there was a repairman stopping by your house, he expected your housewife to take care of it, or take a vacation day. 

I was happy that I didn't work for him.

  • Hook 'Em 1
Link to comment
Share on other sites

  On 6/3/2022 at 1:24 PM, NoName said:

imagine announcing that you are firing 10,000 people because of your "super bad" feeling about the economy lol

...2.5 weeks ago he made the decision to buy TWTR for $44 billion. guess this super bad feeling came on rather suddenly.

Expand  

Reminds me of a boss I had 20 years ago when working for a small consulting firm. One month, we'd be flying high. The next (when bonus time rolled around), he'd threaten to lay half the staff off because we were going out of business. That worked until we found a copy of his $1 million house plan on the fax machine sent from his architect a week or so after one of those threats and shitty bonuses.

  • Rage+1 1
  • Fuck Around and Find Out 1
Link to comment
Share on other sites

  On 6/2/2022 at 12:22 PM, Auto Driller said:

Boomers clamoring for a return to the office worried that they won’t be able to sexually harass college grads and get forced laughs from middle management to their stupid jokes. Face it - no one cares about your vast experience. You can embrace WFH now or you can lose your best employees and then the company will move to WFH once you get forced into retirement in 3 years.

Expand  

Remind those Boomers that they can still have Xmas parties and happy hours.

Link to comment
Share on other sites

  On 6/3/2022 at 4:22 PM, YChang said:

Have two friends at Tesla. One's an engineer (not software) and one is in sales. It's not an unpopular opinion that most are ready for a different CEO. 

Expand  

you mean when he's not spending all his time walking the plants as fake inspiration, he's drunk tweeting every shit idea that comes across his mind. that doesn't inspire his employees?

  • Like 2
Link to comment
Share on other sites

  On 6/3/2022 at 3:49 PM, bolverk said:

Reminds me of a boss I had 20 years ago when working for a small consulting firm. One month, we'd be flying high. The next (when bonus time rolled around), he'd threaten to lay half the staff off because we were going out of business. That worked until we found a copy of his $1 million house plan on the fax machine sent from his architect a week or so after one of those threats and shitty bonuses

Expand  

I worked for a private but global company that would do the same thing. I don’t know the level where the financial truth was accurately laid out, but it was a lot higher than you’d expect, ie: selling the poor performance lie down the chain even in the accounting/finance cog side. Then, at bonus time, oh hey we actually did great this year. Here’s your bonus!!1!   It took me 2 cycles to figure it out, admittedly.  But in a company that size, it’s difficult to know what’s really going on on the other side of the globe.  But they did it for 5 years straight, I guess as a motivator for bonus’. 
 

Eta: Elon seems like he’s gotten a bit out over his skis, while also losing his marbles a bit (more). 

Edited by fattyflattie
  • Like 1
Link to comment
Share on other sites

  On 6/3/2022 at 4:39 PM, fattyflattie said:

I worked for a private but global company that would do the same thing. I don’t know the level where the financial truth was accurately laid out, but it was a lot higher than you’d expect, ie: selling the poor performance lie down the chain even in the accounting/finance cog side. Then, at bonus time, oh hey we actually did great this year. Here’s your bonus!!1!   It took me 2 cycles to figure it out, admittedly.  But in a company that size, it’s difficult to know what’s really going on on the other side of the globe.  But they did it for 5 years straight, I guess as a motivator for bonus’. 

Expand  

execs will do everything they can to get their bonuses. that's all those fuckers care about. whatever it takes to meet their numbers so they can get that check. if scaring people to cut costs to maintain margin is what's needed, then that's what they do. their outlook is qtr by qtr at best.

Link to comment
Share on other sites

I go into the office pretty much every day for two reasons: 

1. I live 4.5 miles from my office. It takes roughly 11-16 minutes to get from my house to office utilizing only surface streets and avoiding congested highways. 

2. I focus way better with a dedicated workspace. In college and law school I did homework, readings, studied for tests, and wrote papers almost exclusively at the campus library in a study pod. I work at work and relax at home.

My wife set up a proper home office during COVID but now goes back to the office every single day. I've started occasionally (maybe 3 times a month) hooking up my laptop to her setup. It takes some getting used to and I only really do it on days where I'm not facing any particular deadline, but It's not like I don't get anything done.

I work with plenty of guys that live way far out in the burbs (I'm talking Conroe, Woodlands, Magnolia....) that come in maybe 2 days a week at most. Have heard not a single complaint within the firm that they're not getting shit done.  If I had an hour or more drive each way through 45 or 290 traffic, you can bet your ass I'd get comfortable with WFH real damn quick. 

Edited by Storm the Field
  • Hook 'Em 4
Link to comment
Share on other sites

Discussion is also prescient.  We got told this AM we are heading back to the office because too many aren’t getting their load done.  Doesn’t affect me as much as I travel a lot, but we are going to have some upset folks.  Childcare and fuel likely being the drivers. 

Link to comment
Share on other sites

  On 6/3/2022 at 5:33 PM, Gene Parmesan said:

I go to the office because I like browsing surly on the bigger monitors I have there.  That to me is worth the commute.

Expand  

When we went WFH at the start of COVID, senior staff got first dibs on 2 extra wide monitors for home. I have the same setup at home as my office, minus the commute and boring coworkers 

Link to comment
Share on other sites

  On 6/3/2022 at 5:31 PM, fattyflattie said:

Discussion is also prescient.  We got told this AM we are heading back to the office because too many aren’t getting their load done.  Doesn’t affect me as much as I travel a lot, but we are going to have some upset folks.  Childcare and fuel likely being the drivers. 

Expand  

if i'm king of your company, i'm firing the bums and expanding my search radius for better talent.

  • Hook 'Em 3
Link to comment
Share on other sites

  On 6/3/2022 at 6:15 PM, DefinitelyNotHollywoodColt said:

if i'm king of your company, i'm firing the bums and expanding my search radius for better talent.

Expand  

firing the bums - very Jack Welch thing to do. Not necessarily a bad thing which is why he had layoffs every couple of years to fire the bottom 10%

expanding search radius means working remote - not a Jack Welch thing to do because you must make life miserable for employees. Employees are costs and should be treated as such.

Link to comment
Share on other sites

  On 6/3/2022 at 4:30 PM, crash_davis said:

you mean when he's not spending all his time walking the plants as fake inspiration, he's drunk tweeting every shit idea that comes across his mind. that doesn't inspire his employees?

Expand  

IT'S JUST A PRANK BRO!

...now imagine how many more shitposting billionaires we are going to have to deal with in our lifetimes.

Sad Arrested Development GIF

Edited by NoName
Link to comment
Share on other sites

  On 6/3/2022 at 6:15 PM, DefinitelyNotHollywoodColt said:

if i'm king of your company, i'm firing the bums and expanding my search radius for better talent.

Expand  

At my wife's company. They are going to institute a policy that if you don't meet quota for a certain time period, you'll have to start working at the office.

 

Link to comment
Share on other sites

  On 6/3/2022 at 6:34 PM, Jameslaw121 said:

At my wife's company. They are going to institute a policy that if you don't meet quota for a certain time period, you'll have to start working at the office.

 

Expand  

That's funny as shit. 

It is genius motivation. Take care of things, enjoy the perks. Don't take care of shit, join the other losers at the Office of Shame.

  • Hook 'Em 3
Link to comment
Share on other sites

  On 6/3/2022 at 6:40 PM, crash_davis said:

That's funny as shit. 

It is genius motivation. Take care of things, enjoy the perks. Don't take care of shit, join the other losers at the Office of Shame.

Expand  

It's actually even more genius than that. You tell someone they have to start commuting, chances are they will just quite. Saves a ton of hassle trying to fire someone. It's a pretty big company, so there is alot of red tape my wife has to go through to actually fire someone. 

Link to comment
Share on other sites

  On 6/3/2022 at 6:45 PM, Jameslaw121 said:

It's actually even more genius than that. You tell someone they have to start commuting, chances are they will just quite. Saves a ton of hassle trying to fire someone. It's a pretty big company, so there is alot of red tape my wife has to go through to actually fire someone. 

Expand  

saves a company who employs ~100,000 a shitload of money too.

Link to comment
Share on other sites

  On 6/3/2022 at 6:34 PM, Jameslaw121 said:

At my wife's company. They are going to institute a policy that if you don't meet quota for a certain time period, you'll have to start working at the office.

 

Expand  

Our hybrid schedule stands as long as you’re productive and available. If you start slipping, you’re back in full time. So far, no one has been forced in full time. 

Link to comment
Share on other sites

20-something son works for a leading tech company and I asked him this morning about the topic.  

"They're going to lose all of their engineers."  They will be screwed until it's not an "engineer's market" for hiring.

His company does a two days per week in office policy for now, and he said one of the team leads, who has a 25 year service award on his desk, has never been in during the last 2 months. In other words, it's an "optional" policy. He said they lost folks when a 3-day a week policy was implemented coming out of the pandemic, and a 5-day policy would be scorched earth.

Link to comment
Share on other sites

  On 6/5/2022 at 3:36 PM, slorch said:
20-something son works for a leading tech company and I asked him this morning about the topic.  
"They're going to lose all of their engineers."  They will be screwed until it's not an "engineer's market" for hiring.
His company does a two days per week in office policy for now, and he said one of the team leads, who has a 25 year service award on his desk, has never been in during the last 2 months. In other words, it's an "optional" policy. He said they lost folks when a 3-day a week policy was implemented coming out of the pandemic, and a 5-day policy would be scorched earth.

We’re an engineer heavy company. We went back to the office 2 days a week on April 1st with the plan to go 3 days a week in late summer. That month we had 10x the number of retirements and resignations as normal. When our recruiters began pitching the 2x week schedule to candidates, something like 80% declined an interview. Half of the rest cancel their interview or no show. Our board and management freaked the fuck out when they got that monthly report. Last week, they rolled out “purpose driven schedules”. My VP basically said you do not come in the office unless you have in person training, a vendor meeting, or career development activities. There must be a purpose to being in the office and just because you or a manager wants you to isn’t a reason. A complete 180 from two months ago. We will see if that slows down our bleeding.
  • Hook 'Em 6
  • Like 1
  • Fuck Around and Find Out 1
Link to comment
Share on other sites

  On 6/5/2022 at 10:59 PM, CooterBrown said:

 Our board and management freaked the fuck out when they got that monthly report. Last week, they rolled out “purpose driven schedules”. My VP basically said you do not come in the office unless you have in person training, a vendor meeting, or career development activities. There must be a purpose to being in the office and just because you or a manager wants you to isn’t a reason.

Expand  

know a couple of people who work at large companies (not in engineering) whose companies are basically doing this. there is a list of meetings that require "in person" visits to the office but outside of that it is optional.

Link to comment
Share on other sites

https://www.theverge.com/2022/6/6/23156233/elon-musk-twitter-bots-merger-agreement-termination-threat

  Quote

Elon Musk says that Twitter is in “clear material breach” of their $44 billion acquisition deal and that he could “terminate” the agreement in response. In a letter sent to Twitter this morning, Musk’s legal team claims that Twitter has failed to provide him with information on the service’s spam bot problem and that he’s entitled to receive that information under the deal agreement.

Expand  

reason #98237498127309817239481234 why waiving due diligence in any deal worth $44b is quite literally dumb as shit.

 

  • Hook 'Em 1
  • Haha 3
  • Fuck Around and Find Out 1
Link to comment
Share on other sites

  On 6/6/2022 at 2:05 PM, NoName said:

https://www.theverge.com/2022/6/6/23156233/elon-musk-twitter-bots-merger-agreement-termination-threat

reason #98237498127309817239481234 why waiving due diligence in any deal worth $44b is quite literally dumb as shit.

 

Expand  

 

Given what we know about Musk, that means he's the one who breached and is chickening out of the acquisition as many predicted.

  • Hook 'Em 2
  • Like 1
Link to comment
Share on other sites

  On 6/6/2022 at 2:26 PM, chainsaw said:

 

Given what we know about Musk, that means he's the one who breached and is chickening out of the acquisition as many predicted.

Expand  

He's just trying to get a better deal and or delay the deal. He's backed himself into a corner FAFO and is about to be bent over paying multiples of what Twitter is actually worth now.

  • Hook 'Em 1
  • Haha 1
  • Fuck Around and Find Out 1
Link to comment
Share on other sites

You know, something that just occurred to me (no particular reason.....no particular reason at all) is that if people don't come in to the office, they won't get to smell my righteous cauliflower, avocado, and bean farts.  And that seems bad, they shouldn't be deprived of that perk.

Link to comment
Share on other sites

i wonder what the venn diagram is on people who need others to come in to the office and soak up all their wisdom and people who get an erection from hearing footsteps in the office bathroom while they sit there making the air thick with what has fallen out of their rotting insides

Link to comment
Share on other sites

  On 6/6/2022 at 3:52 PM, Celery Man said:

i wonder what the venn diagram is on people who need others to come in to the office and soak up all their wisdom and people who get an erection from hearing footsteps in the office bathroom while they sit there making the air thick with what has fallen out of their rotting insides

Expand  

Monkey-Looking-away.png

  • Haha 4
Link to comment
Share on other sites

  On 6/6/2022 at 4:37 PM, longhornmatt said:

I mean, I guess he can try.  But it essentially doesn’t matter what the data says.  He’s still on the hook to buy Twitter unless he can show the real data conflicts with Twitter’s public filings AND the discrepancy has a massive material adverse effect on the value of Twitter.  That means it has to be roughly a 20% hit on the total market cap under existing Delaware case law.

Twitter should dump all the data to him, and tell him to close.  “Oh, your analysis says we’re only worth half your offer and you want to renegotiate?  Tough shit.  Get your funding lined up.”  And then sue him for breach when he inevitably breaks the confidentially agreement in his next temper tantrum about how he shouldn’t have to close. 

Expand  

If that happens they will try some kind of insanity (mania) defense.

Link to comment
Share on other sites

  On 6/6/2022 at 4:37 PM, longhornmatt said:

I mean, I guess he can try.  But it essentially doesn’t matter what the data says.  He’s still on the hook to buy Twitter unless he can show the real data conflicts with Twitter’s public filings AND the discrepancy has a massive material adverse effect on the value of Twitter.  That means it has to be roughly a 40% hit on the total market cap under existing Delaware case law.

Twitter should dump all the data to him, and tell him to close.  “Oh, your analysis says we’re only worth half your offer and you want to renegotiate?  Tough shit.  Get your funding lined up.”  And then sue him for breach when he inevitably breaks the confidentially agreement in his next temper tantrum about how he shouldn’t have to close. 

Expand  

my understanding is that they have been consistent in how TWTR have been reporting the 5% bots number ("active daily users", not total users) - and since it is on SEC filings, you can be at least somewhat confident that they aren't pulling some number out of thin air and lawyers have vetted the process they are using to calculate the 5%.

at this point, the only reason he is picking this fight is to try to reduce the total cost he is paying, but there is zero reason for TWTR board to even discuss a reduction as far as i can tell...so he is going to end up either paying the $1b breakup fee or buying a company with $44b that he has been shitting all over for months - oh yeah and after what he is saying about WFH i am assuming they are going to see a shitload of talent hitting the bricks over the next 6 months.

 

Link to comment
Share on other sites

  On 6/6/2022 at 4:49 PM, NoName said:

my understanding is that they have been consistent in how TWTR have been reporting the 5% bots number ("active daily users", not total users) - and since it is on SEC filings, you can be at least somewhat confident that they aren't pulling some number out of thin air and lawyers have vetted the process they are using to calculate the 5%.

at this point, the only reason he is picking this fight is to try to reduce the total cost he is paying, but there is zero reason for TWTR board to even discuss a reduction as far as i can tell...so he is going to end up either paying the $1b breakup fee or buying a company with $44b that he has been shitting all over for months - oh yeah and after what he is saying about WFH i am assuming they are going to see a shitload of talent hitting the bricks over the next 6 months.

 

Expand  

They have been reporting consistently, but it's their filing statement:

“In making this determination, we applied significant judgment, so our estimation of false or spam accounts may not accurately represent the actual number of such accounts, and the actual number of false or spam accounts could be higher than we have estimated”

statement that he's holding on to. No one outside twitter thinks their number is anywhere near 5%, more like 10-15%

Link to comment
Share on other sites

  On 6/6/2022 at 5:11 PM, MonkeyDoughnut said:

They have been reporting consistently, but it's their filing statement:

“In making this determination, we applied significant judgment, so our estimation of false or spam accounts may not accurately represent the actual number of such accounts, and the actual number of false or spam accounts could be higher than we have estimated”

statement that he's holding on to. No one outside twitter thinks their number is anywhere near 5%, more like 10-15%

Expand  

the number of real vs fake users on a platform is absolutely something to have solid numbers on BEFORE signing a deal to buy a platform for $44 billion.

  • Hook 'Em 2
  • Haha 1
Link to comment
Share on other sites

  On 6/6/2022 at 3:52 PM, Celery Man said:

i wonder what the venn diagram is on people who need others to come in to the office and soak up all their wisdom and people who get an erection from hearing footsteps in the office bathroom while they sit there making the air thick with what has fallen out of their rotting insides

Expand  

Talking shop and wrecking shop are two vastly different activities.

Link to comment
Share on other sites

  On 6/6/2022 at 5:11 PM, MonkeyDoughnut said:

They have been reporting consistently, but it's their filing statement:

“In making this determination, we applied significant judgment, so our estimation of false or spam accounts may not accurately represent the actual number of such accounts, and the actual number of false or spam accounts could be higher than we have estimated”

statement that he's holding on to. No one outside twitter thinks their number is anywhere near 5%, more like 10-15%

Expand  

 

If "you know it, I know it, everyone knows it" can you really pretend not to know it, and claim to be harmed by having not known it? You're the one who came to us, with the offer after all. Surely you believed Twitter was worth that much despite whatever bot problem it might have had.

Link to comment
Share on other sites

  On 6/6/2022 at 5:28 PM, chainsaw said:

 

If "you know it, I know it, everyone knows it" can you really pretend not to know it, and claim to be harmed by having not known it? You're the one who came to us, with the offer after all. Surely you believed Twitter was worth that much despite whatever bot problem it might have had.

Expand  

One of the reasons he claimed to be buying Twitter in the first place was to fix the bot problem.

  • Hook 'Em 4
Link to comment
Share on other sites

  On 6/6/2022 at 5:11 PM, MonkeyDoughnut said:

statement that he's holding on to. No one outside twitter thinks their number is anywhere near 5%, more like 10-15%

Expand  

I wonder why he waived due diligence then, and following that confirmed that he had all the necessary funding (meaning, the number of bots is of no underwriting value to any of his financial backers).

If Elawn tries to back out of the deal and TWTR's board fails to sue him for specific performance they'd likely be in violation of their oath to shareholders. Settling for even $1B would be an absurd move by TWTR.

  • Like 1
Link to comment
Share on other sites

Elon just wants out the deal and told his lawyers to find anyway to get away from his offer. 

I doubt that any court could/would force him to give $44B to TWTR shareholders but he could possibly be on the hook for a multi billion lawsuit that would take 5+ years.

Twitter should also pass a rule that there is a lifetime ban on anyone that walks away from a deal of buying Twitter. I could see Elon settling with Twitter just to avoid losing his twitter account.

Link to comment
Share on other sites

  On 6/5/2022 at 3:36 PM, slorch said:

20-something son works for a leading tech company and I asked him this morning about the topic.  

"They're going to lose all of their engineers."  They will be screwed until it's not an "engineer's market" for hiring.

His company does a two days per week in office policy for now, and he said one of the team leads, who has a 25 year service award on his desk, has never been in during the last 2 months. In other words, it's an "optional" policy. He said they lost folks when a 3-day a week policy was implemented coming out of the pandemic, and a 5-day policy would be scorched earth.

Expand  

My non profit has a significant IT presence.  We just started back 3x a week and we’ve lost 15 people already.  

Link to comment
Share on other sites

A company can do whatever they want, and if Tesla feels that employees need to be in the office, so be it. Eventually they will lose and rehire people that are ok with that policy. Or train people to replace those that left. Or perhaps outsource work to companies that have their own policies.

But with that being said/written, it's a ridiculous argument from Elon that office workers need to be at the office since factory workers are required to be at the factory. At an agricultural company, should mgmt turn off the A/C or require office workers to work outside since the farm workers are outside? Employees have different hours, environments, etc. based on the needs of that dept.

  • Hook 'Em 1
Link to comment
Share on other sites

  On 6/6/2022 at 5:50 PM, Chopper said:

I wonder why he waived due diligence then, and following that confirmed that he had all the necessary funding (meaning, the number of bots is of no underwriting value to any of his financial backers).

If Elawn tries to back out of the deal and TWTR's board fails to sue him for specific performance they'd likely be in violation of their oath to shareholders. Settling for even $1B would be an absurd move by TWTR.

Expand  

He waived due diligence to get them to accept his offer... he didn't count on the market tanking which basically means he'd be paying a 30%+ premium on his bid assuming he's using TSLA stock as backing. He's shown he's great at getting things done, not so much on the "business" side of things.

Link to comment
Share on other sites

  On 6/6/2022 at 6:36 PM, MonkeyDoughnut said:

He waived due diligence to get them to accept his offer... he didn't count on the market tanking which basically means he'd be paying a 30%+ premium on his bid assuming he's using TSLA stock as backing. He's shown he's great at getting things done, not so much on the "business" side of things.

Expand  

I wonder if the people who gave him the bridge loan or financing are dark money right wingers who want Elon to convert Twitter to Parler. That really seems to be what this is all about, and teasing a return of Trump. They are the ones likely shitting themselves and telling Elon to stall.

Link to comment
Share on other sites

Matt Levine with Bloomberg News is a former M&A lawyer and banker. His newsletter is excellent and free. You can sign up for it here. https://www.bloomberg.com/account/newsletters/money-stuff?source=msweb

This just hit my inbox.

Spoilering bc it's long.

 

  Quote

 

  Reveal hidden contents

 

Expand  

 

  • Hook 'Em 2
Link to comment
Share on other sites

  On 6/6/2022 at 7:09 PM, Chopper said:

Matt Levine with Bloomberg News is a former M&A lawyer and banker. His newsletter is excellent and free. You can sign up for it here. https://www.bloomberg.com/account/newsletters/money-stuff?source=msweb

This just hit my inbox.

Spoilering bc it's long.

 

 

Expand  

 

If Musk were to publicize something he's not allowed to publicize under the agreement, what would Twitter be able to do about it legally?

Link to comment
Share on other sites

  On 6/6/2022 at 7:15 PM, chainsaw said:

 

If Musk were to publicize something he's not allowed to publicize under the agreement, what would Twitter be able to do about it legally?

Expand  

Two things come to mind. Sue for damages. Add it to the pile of potential evidence for his acting in bad faith when they sue him for specific performance and breach of contract.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.



×
×
  • Create New...