Twitter adopts 'poison pill' to prevent Elon Musk takeover

[RaiderHaters Revenge 3,583]

Just now, Reality said:

In fairness, it was never much of a challenge.

 

you're fighting a man with one leg in an a55 kicking contest

[Sean Mooney 1,184]

10 minutes ago, RaiderHaters Revenge said:

you're fighting a man with one leg in an a55 kicking contest

You're still sore that I called you out on your MAGAness.

[Horseman 1,513]

1 hour ago, Sean Mooney said:

I am a teacher. I'm very good at it. I'm well liked and the kids learn a lot.

HFS.

They call you Ms. Life Loser behind your back.  

[Hardcore troubadour 12,636]

1 minute ago, Horseman said:

HFS.

They call you Ms. Life Loser behind your back.  

I’m smart! Not stupid like people say, and I want respect! 

[Mike Honcho 4,027]

1 hour ago, RaiderHaters Revenge said:

Reality wins

just not @Reality

Reality in general

 

Okay, let's look more into this win for "Reality"  

Here's how it started. With these two posts. 

On 11/17/2022 at 9:38 PM, EternalShinyAndChrome said:

It's going poorly by whose standards?  A bunch of lefties hyperventilating about it doesn't mean it's going poorly.  You see, that's what they're trying to do - cry enough about it and people like you will fall for the narrative.

 

On 11/17/2022 at 10:02 PM, Sean Mooney said:

And people like you will be here to stump like crazy for Elon Musk.

Dude you can scroll through Twitter. It is not going well right now. You do know how the Internet works right?

As it happened, I was reading an article that morning in which multiple people were quoted as saying that Twitter was going to struggle moving forward due to layoffs and mass resignations.

On 11/18/2022 at 7:53 AM, Mike Honcho said:

Literally the headline at CNN this morning.

Things are looking very bad for Twitter.

On the platform Thursday evening, where #RIPTwitter was the top trend worldwide, users wrote what they feared might be their last posts, offering apprehensive goodbyes and listing the other (more stable) social media platforms where they can still be found.

They were reacting to the dire news emanating from inside Twitter. Scores of remaining employees at the social media company on Thursday appeared to reject owner Elon Musk’s ultimatum to work “extremely hardcore,” throwing the communications platform into utter disarray and raising serious questions about how much longer it will survive.

Inside the company’s Slack, a mass resignation effectively occurred after Musk’s 5pm deadline for employees to arrive at a decision passed. Hundreds of staffers appear to have called it quits, accepting Musk’s offer to exit in exchange for three months of severance.

Employees flooded the “#social-watercooler” channel with the salute emoji, indicating that they had chosen not to sign Musk’s pledge. A similar series of events unfolded in the Slack channel earlier this month as Musk eliminated roughly 50% of the company’s then 7,500-person workforce.

A former Twitter executive, who recently exited the company, described the situation as a “mass exodus.” Asked about the situation, the former executive said, “Elon is finding out that he can’t bully top senior talent. They have lots of options and won’t put up with his antics.”

“They will struggle just to keep the lights on,” the former executive added.

Reality than took one statement from that article, which again was specifically addressing the question who says they are struggling(Answer-former executive) and told us for 4 days straight that Twitter still had the lights on. No poster said the lights were going out and only one poster here didn't seem to understand the context of the statement, Reality

3 hours ago, Reality said:

I'm making fun of Honcho and his report,

I didn't post a report, I posted an article in support of the statement that people were saying Twitter was struggling and only one poster was confused by that.  So if you think Reality somehow "won", I have to imagine you think that the guy who had a pistol jammed into his pants and then accidentally shot his own d1ck off is also a winner!

[RaiderHaters Revenge 3,583]

reality being that every single news and leftist organization was saying omg this is the end of twitter, and are still doing it

its not like it ended there.  its like they don't have enough on Trump so Elon is the new racist, sexist, homophobic guy

they hate African Americans

 

[Sean Mooney 1,184]

3 minutes ago, RaiderHaters Revenge said:

reality being that every single news and leftist organization was saying omg this is the end of twitter, and are still doing it

its not like it ended there.  its like they don't have enough on Trump so Elon is the new racist, sexist, homophobic guy

they hate African Americans

 

There comes the MAGAman shining through again. 

[TimHauck 1,799]

1 hour ago, Hardcore troubadour said:

I quit them but they can’t quit me. Broken. 

I guess between HT and @Reality, they have resorted to simply ignoring the people that constantly prove them wrong.  Weird that they see this as some sort of win

[Hardcore troubadour 12,636]

Liberlas don’t like billionaires in control of media all of a sudden. 

[Reality 2,710]

Oh lordy, I think I actually broke these idiots...

Best thread ever.

[Hardcore troubadour 12,636]

2 minutes ago, Reality said:

Oh lordy, I think I actually broke these idiots...

Best thread ever.

I wore them down for you. 

[Mike Honcho 4,027]

13 minutes ago, RaiderHaters Revenge said:

reality being that every single news and leftist organization was saying omg this is the end of twitter, and are still doing it

its not like it ended there.  its like they don't have enough on Trump so Elon is the new racist, sexist, homophobic guy

they hate African Americans

 

It's a question of economics, not needing a bad guy.

Quote

 

NYT

The $44 billion acquisition was the largest leveraged buyout of a technology company in history. To do the deal, Mr. Musk, the world’s richest man, loaded about $13 billion in debt on the company, which had not turned a profit for eight of the past 10 years. The deal was inked before the global economy looked to be headed toward a recession as interest rates surged higher. And digital advertising, which makes up 90 percent of Twitter’s revenue, has been falling at social media companies.

Last year, Twitter’s interest expense was about $50 million. With the new debt taken on in the deal, that will now balloon to about $1 billion a year. Yet the company’s operations last year generated about $630 million in cash flow to meet its financial obligations.

That means that Twitter is generating less money per year than what it owes its lenders. The company also does not appear to have a lot of extra cash on hand. While it had about $6 billion in cash before Mr. Musk’s buyout, a large portion of that probably went into the cost of closing the acquisition.

 

or how about the WSJ

Quote

 

It hasn’t booked an annual profit since 2019, and posted a loss in eight years of the past decade. The company’s net loss narrowed in 2021, to $221.4 million from $1.14 billion the previous year.

Twitter has struggled to attract new users and increase revenue, which came in at about $5.1 billion last year. In its last quarterly filing as a public company, for the period ended June 30, revenue was $1.18 billion, down slightly year-over-year. 

Nearly 90% of its revenue last year came from advertising, and it traditionally has been the company’s main source of revenue. In 2021, Twitter took in $4.51 billion from advertisers, and $572 million from licensing data and other services.

The company had more than $2 billion in cash and less than $600 million in net debt before the takeover talks—very little debt for a company in the S&P 500 index. But that cash position was down 35% from a year earlier as of June 30, filings show, and Mr. Musk paid for Twitter by taking on $13 billion in debt. He paid for the rest in equity, some contributed by multiple investors. 

Twitter had a market capitalization of $37.48 billion in March, the month before Mr. Musk agreed to buy it, S&P data showed. Social-media stocks have slumped sharply since then. But now, according to Jeffrey Davies, a former credit analyst and founder of data provider Enersection LLC, “This thing’s probably not worth more than what the debt stack is, quite frankly, unless you put a lot of option value just on Elon.” Mr. Musk last month said he and investors were overpaying for the company in the short term. 

Mr. Musk said earlier this month that Twitter had suffered “a massive drop in revenue” and was losing $4 million a day. It isn’t clear if that reflects the broader downturn in the digital ad market or the pause in advertising by several companies since Mr. Musk bought the business. 

Before Mr. Musk’s acquisition, net debt totaled $596.5 million as of June 30, according to S&P Global Market Intelligence, a data provider. That compares with a negative balance of $2.18 billion the prior-year period, indicating a cash surplus.

Twitter paid $23.3 million in interest expense in the quarter ended June 30, according to a filing. 

Now, the company will have to pay at least $9 billion in interest to banks and hedge funds over the next seven to eight years, when the $13 billion in debt matures, according to a review of Twitter’s loans by Mr. Davies, the former credit analyst.

The interest payments are substantial for a company that reported $6.3 billion in total operating cash flow over the past eight years, he said. 

What’s more, the company’s debt stack now includes floating-rate debt, meaning that interest costs are set to rise as the Federal Reserve continues to increase interest rates. Twitter’s debt was entirely fixed rate before the deal. 

 

It's not about the man, but trying to understand how the richest man in the world would get himself into a seemingly horrible business deal.  Even he admits he over payed for it.  

[Mike Honcho 4,027]

24 minutes ago, Mike Honcho said:

the guy who had a pistol jammed into his pants and then accidentally shot his own d1ck off is also a winner!

 

7 minutes ago, Reality said:

Oh lordy, I think I actually broke these idiots...

Best thread ever.

Unlike the guy in my example, Reality keeps squeezing the trigger.

[TimHauck 1,799]

2 minutes ago, Mike Honcho said:

 

It's not about the man, but trying to understand how the richest man in the world would get himself into a seemingly horrible business deal.  Even he admits he over payed for it.  

Yeah I remember some of the same posters now claiming to be “winning” were convinced he was going to get a steep discount

[fandandy 3,311]

I love your guy's threads.  It's like going to the zoo, drinking a beer, and watching the chimpanzees throw sh1t at each other.  And you all think you are bright, but here you are at the smallest, dirtiest corner of the internet.

Carry on

[Sean Mooney 1,184]

6 hours ago, TimHauck said:

I guess between HT and @Reality, they have resorted to simply ignoring the people that constantly prove them wrong.  Weird that they see this as some sort of win

It's hilarious.

However, it is kind of the perfect message board love story for these two brain malfunctioning dopes to find each other and just declare one another a winner. 

[RaiderHaters Revenge 3,583]

27 minutes ago, Sean Mooney said:

There comes the MAGAman shining through again. 

Elon is MAGA?

cool story bro continue

 

[Sean Mooney 1,184]

7 minutes ago, RaiderHaters Revenge said:

Elon is MAGA?

cool story bro continue

 

I didn't say that. 

It's charming I guess you don't see your MAGAness. 

[Reality 2,710]

10 minutes ago, fandandy said:

I love your guy's threads.  It's like going to the zoo, drinking a beer, and watching the chimpanzees throw sh1t at each other.  And you all think you are bright, but here you are at the smallest, dirtiest corner of the internet.

Carry on

It's fun, especially when it goes this poorly for one side. Glad you're enjoying it.

20 minutes ago, Hardcore troubadour said:

I wore them down for you. 

Fair.

[fandandy 3,311]

5 minutes ago, Reality said:

It's fun, especially when it goes this poorly for one side. Glad you're enjoying it.

26 minutes ago, Hardcore troubadour said:

I get it,  My gf plays this game on her Tracfone.  Legit Tracfone.  I pay for it, ten bucks a month auto-refill.  I could buy her a better phone of course but I like to watch her work for it.  You wanna make a phone call?  OK.  I'll see you in a bit, put on your boots and walk around the yard until you get a signal.

[RaiderHaters Revenge 3,583]

6 minutes ago, Sean Mooney said:

I didn't say that. 

It's charming I guess you don't see your MAGAness. 

I am talking about Elon and you bring in Maga, I dont see the relation

Media needs villains Elon is the latest, even though hes literally done more for "climate" than anyone else on earth

 

[Reality 2,710]

Also, halftime in a few games... Checked Twitter, still available. Not gonna lie, I was worried this time...

[Sean Mooney 1,184]

3 minutes ago, RaiderHaters Revenge said:

I am talking about Elon and you bring in Maga, I dont see the relation

Media needs villains Elon is the latest, even though hes literally done more for "climate" than anyone else on earth

 

Of course you don't see what you did.

[RaiderHaters Revenge 3,583]

6 minutes ago, Sean Mooney said:

Of course you don't see what you did.

cause it has nothing to do with Maga, but thats the world you live in as a centrist, everything is MAGA MAGA MAGA

 

[Sean Mooney 1,184]

1 minute ago, RaiderHaters Revenge said:

cause it has nothing to do with Maga, but thats the world you live in as a centrist, everything is MAGA MAGA MAGA

 

It has nothing to do with Elon Musk. Not sure what else I can tell you.

Not my fault you are blinded by your biases. And I mean you said you are centrist. 

[RaiderHaters Revenge 3,583]

Just now, Sean Mooney said:

It has nothing to do with Elon Musk. Not sure what else I can tell you.

Not my fault you are blinded by your biases. And I mean you said you are centrist. 

so once focking again what does Elon have to do with MAGA.  Jeezus you say you teach 2nd graders

spell it the fock out

our society is doomed with educators like you

 

[Horseman 1,513]

6 minutes ago, RaiderHaters Revenge said:

so once focking again what does Elon have to do with MAGA.  Jeezus you say you teach 2nd graders

spell it the fock out

our society is doomed with educators like you

 

We pay teachers chit so 99% of them are life losers that failed at getting a real job.  50K a year gets you wash ups like Mr. Mooney watching your kids.  

[Sean Mooney 1,184]

14 minutes ago, RaiderHaters Revenge said:

so once focking again what does Elon have to do with MAGA.  Jeezus you say you teach 2nd graders

spell it the fock out

our society is doomed with educators like you

 

I never said I teach 2nd graders.

Read your fooking post again you idiot. My post had absolutely zero to do with Elon Musk. Not sure what else you want me to say. 

 

[Hardcore troubadour 12,636]

6 minutes ago, Horseman said:

We pay teachers chit so 99% of them are life losers that failed at getting a real job.  50K a year gets you wash ups like Mr. Mooney watching your kids.  

I wish the teachers in NY only made 50k.  Triple that with time on in my area. Even the Fockin Gym teachers. 

[RaiderHaters Revenge 3,583]

35 minutes ago, Sean Mooney said:

I never said I teach 2nd graders.

Read your fooking post again you idiot. My post had absolutely zero to do with Elon Musk. Not sure what else you want me to say. 

 

yes, in a thread about Elon Musk and twitter, you brought your MAGA nonsense over here to continue

sorry kindergarten

[Sean Mooney 1,184]

9 minutes ago, RaiderHaters Revenge said:

yes, in a thread about Elon Musk and twitter, you brought your MAGA nonsense over here to continue

sorry kindergarten

Geez you couldn't even re-read like a 3 line post you wrote?

Sad

[RaiderHaters Revenge 3,583]

3 hours ago, Sean Mooney said:

Geez you couldn't even re-read like a 3 line post you wrote?

Sad

Yes where did anything I wrote support maga 

[Sean Mooney 1,184]

3 minutes ago, RaiderHaters Revenge said:

Yes where did anything I wrote support maga 

You are just being obtuse at this point. It isn't fun or worth it anymore. 

[RaiderHaters Revenge 3,583]

54 minutes ago, Sean Mooney said:

You are just being obtuse at this point. It isn't fun or worth it anymore. 

It never was. You brought a stupid statement to an unrelated thread. You’re like an obsessed high school girl

[TimHauck 1,799]

Lol

 

 

 

[Sean Mooney 1,184]

29 minutes ago, RaiderHaters Revenge said:

It never was. You brought a stupid statement to an unrelated thread. You’re like an obsessed high school girl

You are so clueless. 

[RaiderHaters Revenge 3,583]

1 minute ago, Sean Mooney said:

You are so clueless. 

That’s a good movie. Unintentional reference on you’re part I’m sure 

[fandandy 3,311]

I love that movie too. When she jumps out of the plane humming Sweet Caroline into her harmonica.  Still gives me chills in a way.

[TimHauck 1,799]

Lol (not real)

 

 

[Reality 2,710]

On 11/18/2022 at 6:53 AM, Mike Honcho said:

“They will struggle just to keep the lights on,” the former executive added.

This line of Honcho's article was sooo important to him that he went out of his way to bold it. He wanted to make sure none of us missed the quote. I even double checked the article to make sure the text wasn't copied as bolded already, sure enough, not bolded in the article. So please understand how important this was to Honcho...

I feel like it's my duty to let everyone know, the app is still up, I am able to open Twitter. It appears that the lights are still on. I'll report back in a few days, stay tuned.