▲ 507 ▼ Elon Musk tells advertisers: ‘Go fuck yourself’ - The Verge (www.theverge.com) submitted 2 years ago by BobTheBoozer@lemmy.world to c/world@lemmy.world 166 comments fedilink hide all child comments he said. “We’ll be gone, and it’ll be gone because of an advertiser boycott.”... eeer, no.
[–] xmunk@sh.itjust.works 27 points 2 years ago (1 child) They should learn not to give someone free money just because they have money already. permalink fedilink source parent hideshow 2 child comments replies: [–] WhatAmLemmy@lemmy.world 6 points 2 years ago* (3 children) Pretty sure he's paying a massive amount of interest on those loans, and he would have to liquidate his other assets before he could declare bankruptcy and erase any of the debt... The banks are probably laughing. permalink fedilink source parent hideshow 6 child comments replies: [–] cyd@lemmy.world 6 points 2 years ago (1 child) No that's not how leveraged buyouts are structured. Musk isn't on the hook for the loans, Twitter the company is (basically, Twitter took on debt to help buy its former shareholders out). permalink fedilink source parent hideshow 2 child comments replies: [–] xmunk@sh.itjust.works 6 points 2 years ago (2 children) Precisely, Musk has no personal risk for destroying Twitter. It's absolutely fucking insane how much free money we give rich people. Oh, and one of the reasons Twitter will inevitably fail is because of the massive interest payments the company accepted during the purchase. permalink fedilink source parent hideshow 4 child comments replies: [–] cheese_greater@lemmy.world 1 point 2 years ago (1 child) So what happens then? permalink fedilink source parent hideshow 2 child comments replies: [–] xmunk@sh.itjust.works 1 point 2 years ago Lots of people lose their jobs, something that was once a public service is shut down... and Elon Musk's reputation takes a minor hit that's quickly forgotten. permalink fedilink source parent [–] kbotc@lemmy.world 1 point 2 years ago Oh, no. Musk has $20b in Tesla stock guaranteeing the loans. He could lose control of Tesla if X fails. permalink fedilink source parent [–] Zron@lemmy.world 5 points 2 years ago If you owe the bank $10,000, you’re in trouble. If you owe the bank 10,000,000,000 dollars, the bank is in trouble. permalink fedilink source parent [–] Jaysyn@kbin.social 0 points 2 years ago If they aren't, I am. permalink fedilink source parent
[–] WhatAmLemmy@lemmy.world 6 points 2 years ago* (3 children) Pretty sure he's paying a massive amount of interest on those loans, and he would have to liquidate his other assets before he could declare bankruptcy and erase any of the debt... The banks are probably laughing. permalink fedilink source parent hideshow 6 child comments replies: [–] cyd@lemmy.world 6 points 2 years ago (1 child) No that's not how leveraged buyouts are structured. Musk isn't on the hook for the loans, Twitter the company is (basically, Twitter took on debt to help buy its former shareholders out). permalink fedilink source parent hideshow 2 child comments replies: [–] xmunk@sh.itjust.works 6 points 2 years ago (2 children) Precisely, Musk has no personal risk for destroying Twitter. It's absolutely fucking insane how much free money we give rich people. Oh, and one of the reasons Twitter will inevitably fail is because of the massive interest payments the company accepted during the purchase. permalink fedilink source parent hideshow 4 child comments replies: [–] cheese_greater@lemmy.world 1 point 2 years ago (1 child) So what happens then? permalink fedilink source parent hideshow 2 child comments replies: [–] xmunk@sh.itjust.works 1 point 2 years ago Lots of people lose their jobs, something that was once a public service is shut down... and Elon Musk's reputation takes a minor hit that's quickly forgotten. permalink fedilink source parent [–] kbotc@lemmy.world 1 point 2 years ago Oh, no. Musk has $20b in Tesla stock guaranteeing the loans. He could lose control of Tesla if X fails. permalink fedilink source parent [–] Zron@lemmy.world 5 points 2 years ago If you owe the bank $10,000, you’re in trouble. If you owe the bank 10,000,000,000 dollars, the bank is in trouble. permalink fedilink source parent [–] Jaysyn@kbin.social 0 points 2 years ago If they aren't, I am. permalink fedilink source parent
[–] cyd@lemmy.world 6 points 2 years ago (1 child) No that's not how leveraged buyouts are structured. Musk isn't on the hook for the loans, Twitter the company is (basically, Twitter took on debt to help buy its former shareholders out). permalink fedilink source parent hideshow 2 child comments replies: [–] xmunk@sh.itjust.works 6 points 2 years ago (2 children) Precisely, Musk has no personal risk for destroying Twitter. It's absolutely fucking insane how much free money we give rich people. Oh, and one of the reasons Twitter will inevitably fail is because of the massive interest payments the company accepted during the purchase. permalink fedilink source parent hideshow 4 child comments replies: [–] cheese_greater@lemmy.world 1 point 2 years ago (1 child) So what happens then? permalink fedilink source parent hideshow 2 child comments replies: [–] xmunk@sh.itjust.works 1 point 2 years ago Lots of people lose their jobs, something that was once a public service is shut down... and Elon Musk's reputation takes a minor hit that's quickly forgotten. permalink fedilink source parent [–] kbotc@lemmy.world 1 point 2 years ago Oh, no. Musk has $20b in Tesla stock guaranteeing the loans. He could lose control of Tesla if X fails. permalink fedilink source parent
[–] xmunk@sh.itjust.works 6 points 2 years ago (2 children) Precisely, Musk has no personal risk for destroying Twitter. It's absolutely fucking insane how much free money we give rich people. Oh, and one of the reasons Twitter will inevitably fail is because of the massive interest payments the company accepted during the purchase. permalink fedilink source parent hideshow 4 child comments replies: [–] cheese_greater@lemmy.world 1 point 2 years ago (1 child) So what happens then? permalink fedilink source parent hideshow 2 child comments replies: [–] xmunk@sh.itjust.works 1 point 2 years ago Lots of people lose their jobs, something that was once a public service is shut down... and Elon Musk's reputation takes a minor hit that's quickly forgotten. permalink fedilink source parent [–] kbotc@lemmy.world 1 point 2 years ago Oh, no. Musk has $20b in Tesla stock guaranteeing the loans. He could lose control of Tesla if X fails. permalink fedilink source parent
[–] cheese_greater@lemmy.world 1 point 2 years ago (1 child) So what happens then? permalink fedilink source parent hideshow 2 child comments replies: [–] xmunk@sh.itjust.works 1 point 2 years ago Lots of people lose their jobs, something that was once a public service is shut down... and Elon Musk's reputation takes a minor hit that's quickly forgotten. permalink fedilink source parent
[–] xmunk@sh.itjust.works 1 point 2 years ago Lots of people lose their jobs, something that was once a public service is shut down... and Elon Musk's reputation takes a minor hit that's quickly forgotten. permalink fedilink source parent
[–] kbotc@lemmy.world 1 point 2 years ago Oh, no. Musk has $20b in Tesla stock guaranteeing the loans. He could lose control of Tesla if X fails. permalink fedilink source parent
[–] Zron@lemmy.world 5 points 2 years ago If you owe the bank $10,000, you’re in trouble. If you owe the bank 10,000,000,000 dollars, the bank is in trouble. permalink fedilink source parent