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First, Elon Musk has put the purchase of Twitter on hold. The acquisition is at the stage where the buyers get to look at the books to really see what they are getting into. Maybe what Mr. Musk saw took some of the shine off his new toy. There are certainly other things out there for us all to see that are less shiny.
For instance:
#1 In the recent stock market downturn, the gap between what Musk was offering to pay and what Twitter shares are currently selling for has widened.
#1a The same downturn has negatively affected the price of Tesla shares also, Mr. Musk’s collateral.
#2 The bankers putting up the cash for this hot mess may want more collateral because of #1a and/or a renegotiation of #1.
#3 Mr. Musk may be having second thoughts about how much more skin he’s willing to give up. Maybe his brain and his accountants are willing the battle with his ego this time. It will cost him a billion dollars to back out. Excuse me while I laugh at the misfortune of a fellow human.
The second item is about a bill just passed in the Texas state legislature, HB 20. This law prohibits censorship on social media sites. If a user is being censored by the provider, the user can sue on the basis of their First Amendment(U.S. Constitution) rights to free speech. Free speech includes porn, hate speech, disinformation, Trump, etc. At least according to the Texas State legislature. And according to the article I read, it could also include spam.
I’m not sure how this will affect the rest of us. I’m not an expert but is it possible to put a firewall around Texas? And if not, how far can the tentacles of this beast reach?
For instance:
#1 In the recent stock market downturn, the gap between what Musk was offering to pay and what Twitter shares are currently selling for has widened.
#1a The same downturn has negatively affected the price of Tesla shares also, Mr. Musk’s collateral.
#2 The bankers putting up the cash for this hot mess may want more collateral because of #1a and/or a renegotiation of #1.
#3 Mr. Musk may be having second thoughts about how much more skin he’s willing to give up. Maybe his brain and his accountants are willing the battle with his ego this time. It will cost him a billion dollars to back out. Excuse me while I laugh at the misfortune of a fellow human.
The second item is about a bill just passed in the Texas state legislature, HB 20. This law prohibits censorship on social media sites. If a user is being censored by the provider, the user can sue on the basis of their First Amendment(U.S. Constitution) rights to free speech. Free speech includes porn, hate speech, disinformation, Trump, etc. At least according to the Texas State legislature. And according to the article I read, it could also include spam.
I’m not sure how this will affect the rest of us. I’m not an expert but is it possible to put a firewall around Texas? And if not, how far can the tentacles of this beast reach?
