2y ago

Theory : Musk destroys Xwitter for reduce his debts to banks

www.businessinsider.com It sure looks like Elon Musk is deliberately destroying X

Musk's "go fuck yourself" remarks to X's advertisers seemed pre-planned, said one expert.

The billionaire had last year tried to back out of his $44 billion offer to buy what was then Twitter, but financed the deal by borrowing $13 billion from a consortium of banks. (...)

Musk may be looking to reduce those payments by ensuring X isn't worth very much, Bloomberg commentator Matt Levine posited in January.

15 comments

Utter bullshit. A twat with a long and impressive record of spouting fatuous lies, petulant behaviour and bigotry ….and this guys take is “Hear me out, it’s part of the plan”. And he gets it published??
No wonder the world is burning.
If it’s a conspiracy you’re looking for, look at how Musk uses client journalists, pays them outrageously high fees, to get his story out there.
- Exactly. No 4D chess here. Just a spoiled apartheid man-baby being the same parasite he’s always been.

I don't see how that's a viable strategy. If my house drops in value I don't get to pay less on my mortgage.
- You destroy your house, one of many you own. The bank sees this and tries to sell the loan because the collateral for that loan is looking more shaky every day.
  Banks dont like risk.
  You being a wealthy guy, buy that loan through one of your companies at half price. Result: you win. You just payed 6b for 13b and have no more monthly payments.
  Yes. The house is destroyed in the process. But you don't care, you bought it in a temporary lapse of judgement anyway. Fuck that house.
  Maybe you can still sell the ground the house was built on and recoup some more. That would be awesome.
  
  Its a hell of a bankshot for this to have been the 'plan'.
  I think most everyone is missing the point and who was backing these deals.
  Musk buying twitter was done to empower rightwing culture warriors and to keep the modern alt-right movement relevant.
  It was never about making money, its about influencing elections.
- I think the media has a tough time recognizing mental illness in a robber baron.
  
  There’s good evidence that being very wealthy is bad for your mental health

Or because he made a deal with the Saudi leaders to destroy an international speech platform they couldn't directly interfere with
- or he's a dumbass with no self control and a head full of bad ideas that's pissing off Saudi investors that wanted in on the site so they could use it for global surveillance.

15 comments