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#8 | Posted by prius04 at 2022-11-05 02:33 PM
And the Saudi's are helping him out for a similar reason. Democrats might push more green energy and hasten the collapse of oil.

Musk has long been and even more recently has shown himself to be a major league d-bag. Twitter has mostly been a sewer for enterprises and celebrities' witticisms and self-promotion, and will stink even more "under" Musk. That said, just to lay down some facts:

Saudi Prince Alwaleed bin Talal (one of several hundred Saudi princes, definitely not a fan of current de facto ruler Prince MBS) and his Kingdom Holdings investment arm have long been investing in the US companies, including technology and have been "less than 10%" TWTR investors since before its IPO in 2013. He rolled over Kingdom's 4.4% of shares, Jack Dorsey and Qatar Investment Authority rolled over 2.4% and 0.9% respectively. Alwaleed / Kingdom has been diversifying for decades and has little, if anything invested in oil industry.

Saudi Aramco, now listed and 1.5% "publicly" owned on Saudi Tadawul exchange - still 98.5% owned by Saudi government accounts for about 10% of world's oil output but is one of the leaders in investments in "green" energy, particularly in Japan, more so than Chevron, BP, Shell and Exxon Mobil which also have invested in "green" / "blue" energy projects.

And this doesn't even take into account all the unknown billionaires who are also helping Musk out.

We pretty much know the list of major investors and debtors of X Holdings (Musk's Twitter acquisition company) because Musk had to provide it to the court to assure of sufficient financing. Larry Ellison of Oracle is on the hook for $1B, and several "smaller" billionaires are also on the list.

When spread over a few years, any billions lost on Twitter will be made up for in tax savings by all the players involved in this.

As it should be - that's the nature of "investmrnt risk" in capital formation and free market societies.
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#10 | Posted by oneironaut at 2022-11-05 05:25 PM
From the engineers I know at Tesla, the environment is fun and challenging. I haven't heard anyone complain.

Would be surprising if they did. They are kinda still "fat and happy" with their TSLA options... and even with all current Tesla problems, their environment is not the same as Twitter's - you obviously understand that the "tech" is not all the same.

You? Do you know anyone that works for Musk?

Was not directed to me, but... from my experience, SpaceX is still nowhere near the "happiest place on Earth" even though Tesla's "intellectual environment" is light years closer to SpaceX than Twitter.
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#14 | Posted by JOE at 2022-11-06 09:33 AM
The WARN laws allow the employer to layoff immediately provided they give the employee 60 days pay.

--- ? The regs state that "WARN requires employers who are planning ... a mass layoff to give affected employees at least 60 days' notice of such an employment action." I don't see an exception to that if you throw money at the employees.

Actually, you both may be right... with a hitch. See if this satisfies WARN regs:

Step 1: "You have 60 days notice that you are being laid off."
Step 2: "You are going to be paid in full for the 60 days and accrued vacation time starting on dd/mm/yyyy."
Step 3: "You don't need to show up for work for the 60 days starting on dd/mm/yyyy."

Now, the hitch in this scenario: since they are WARNed but technically still employed, their TWTR options may become vested in this period and therefore eligible for cashing out at buyout price. That may be the only legal action they are entitled to if Musk's holding acquisition company refuses to honor. Otherwise, all legal requirements of WARN would be satisfied.
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Everyone exited was offered 3 months of severance, which is 50% more than legally required. - that should satisfy WARN.

Twitter is now asking dozens of laid-off staff to return, after realizing some are necessary for building prioritized and new features, and some were sacked by mistake.
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#17 | Posted by LampLighter at 2022-11-06 11:03 PM
Planning? Did Mr Musk ever hear of it?

More like "slash and burn" and "throw crap at the wall and see what sticks" - it worked for him before, he was lucky to have had people around to clean up his messes... eventually results in "Masters of the Universe" hubris.
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