It seems increasingly clear that Twitter’s purchase decision, and everything that has happened since, responds more to an impulse than to a process of analysis and reflection. And it is that, otherwise, it would be difficult to explain the erratic of his attitude. From the moment the purchase announcement was made, we have witnessed statements in favor of the social network, statements against it, attacks on its current board of directors and, in what was one of the highlights of this soap opera, to the announcement that it was canceling the purchase offer.
What did you intend when you decided to back down? There are opinions for all tastes, from those who argue that his position is legitimate since he did not get the answer he wanted regarding the bot problem, to those who say he was looking for a new, much cheaper deal to buy Twitter. And, of course, those who think that his economic situation is seriously threatened by said operation, and that after the “high”, he realized that it was a bad idea and tried to back down.
Be that as it may, it gives the impression that at both moments (the signing of the contract and the announcement of his departure) he stopped to reflect on all the implications of what he was doing. Perhaps he thought that he could refuse his purchase commitment and that the rest of the parties involved would accept it willingly? It is hard for me to think that a person like Elon Musk could be so innocent, so I understand that he did imagine the legal journey that was coming.
He could not have foreseen, however, that the prospects would turn so bleak for his plans. The very signing of the contract in Delaware was already working against him, the election of Kathaleen McCormick to prosecute the case was a bucket of cold water, and the conditions of date and duration of the case have been interpreted by the vast majority of analysts as somewhat on the Twitter scoreboard, while Musk’s remains at zero. And that we only talk about the cause of Twitter against Elon Muskremember that there are more lawsuits underway.
Good summary of the problem.
If Twitter simply provides their method of sampling 100 accounts and how they’re confirmed to be real, the deal should proceed on original terms.
However, if it turns out that their SEC filings are materially false, then it should not.
— Elon Musk (@elonmusk) August 6, 2022
A) Yes, Is it possible that Elon Musk is thinking of backing down again? So we can come to that conclusion from this tweetin which we read the following:
«If Twitter simply provides its method of sampling 100 accounts and how they are confirmed to be real, the deal should go ahead under the original terms.
However, if it turns out that your SEC filings are materially false, then you shouldn’t.»
Thus, it has gone from not believing the data presented by Twitter, and from using said doubt as an argument to try to cancel the purchase, to claim the accreditation of the same. The interesting thing is that this is precisely the point at which both parties were before Musk’s “scared”. Why are you going back to that point now? What has changed in this time? The most remarkable thing is that the legal process seems increasingly complex for him, to the point that, in the end, he could have to make an even larger outlay.
It is evident, on the other hand, that the current board of directors of Twitter wants the operation to be completed, although now the question is whether they will be for the work of collaborating with Musk or if, on the contrary, they will risk everything to the judicial trick. I think they will go for collaboration and complete the purchase as amicably as possible, but the facts have shown us that anything can happen.