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7 thoughts on “Musk abandons $44B deal to buy Twitter; company says it will sue

  1. Musk messed up. Made an awful deal that signed away much of his leverage, then crypto took a hit on top of it. He should just write the breakup check and sulk away.

    1. I just don’t see how someone with such supposed business acumen legally committed to buy Twitter without doing all this proper vetting first. I’m just someone sitting in his tiny one-bedroom apartment, but even I know that that was an idiotic move.

    2. What’s fun is Twitter has legal precedence to force the sale instead of the cancel clause.

      Why accept 1Bl when you can have 45 billion!

    3. Musk is a lot like Trump. He grew up wealthy, had a lot of resources at his disposal, and is charismatic, but he’s not a good businessman. He has enough money to surround himself with smart people but that’s about it. He’s otherwise extremely arrogant and will do what he wants, even if it’s not in the best interest of himself, his companies, or his employees.

  2. Channing, not idiotic at all… majority of the due diligence isn’t done until after the LOI is signed. You can bet your tiny 1 bedroom apartment that he has outs to be able to walk away. LOL, you don’t become the richest person on the planet by accident.

    1. He signed away the right to do much of that due diligence. Besides … he came into the deals saying bots are the problem. Why on earth would he, knowing that bots are such a problem, sign a deal BEFORE getting all the answers on bots?

      Also, don’t forget he’s also under investigation for the manner in which he bought Twitter stock.

      Musk is a smart guy but he’s made the mistake a lot of smart people do – they assume they’re the smartest person in every room they walk into. He’s got a social media blind spot (he has no idea what he’s talking about) and he made a bad deal at a bad time.

      Unless, of course, his plan was to try to kill Twitter the entire time.

  3. Agreeing with Joe B twice in the same post. Wow. The deal made zero sense from the start except Musk is an egomaniac that has been enabled by literally everyone. When his ego and mouth wrote a check he can’t cash, he simply denies it and throws a temper tantrum like a petulant 4 year old in a supermarket. The comparison to Trump is so spot on I can’t believe it doesn’t come up more often. Master of branding, horrible businessperson, has some weird “cool” factor that has everyone overlooking what would be fatal flaws is almost any other model.