Elon Musk. Twitter. Babylon Bee.

Things that are not part of politics happening presently and how we approach or address it as Anabaptists.
Ken
Posts: 21863
Joined: Thu Jun 13, 2019 12:02 am
Location: Washington State
Affiliation: former MCUSA

Re: Elon Musk. Twitter. Babylon Bee.

Post by Ken »

How is it going?

The NYT has a very in-depth article up today which is basically a story of hubris and incompetence so pervasive that most fiction screenwriters would be embarrassed had they written it up as fiction: https://www.nytimes.com/2022/11/11/tech ... eover.html
At Goldbird, Twitter’s revenue division, the company had to bring back those who ran key money-generating products that “no one else knows how to operate,” people with knowledge of the business said. One manager agreed to try rehiring some laid-off workers, but expressed concerns that they were “weak, lazy, unmotivated and they may even be against an Elon Twitter,” two people familiar with the matter said.

On Monday, some Twitter employees arrived at work to find that certain systems they had relied on no longer worked. In San Francisco, an engineer discovered that some contracts with vendors that provide software for managing user data had been put on hold or had expired, and that the managers and executives who could fix the problem had been laid off or resigned.

On Wednesday, workers in Twitter’s New York office were unable to use the Wi-Fi after a server room overheated and knocked it offline, two people said.

Mr. Musk plans to begin making employees pay for lunch — which had been free — at the company cafeteria, two people said.

nside Twitter, some employees have clashed with Mr. Musk’s advisers.

This week, security executives disagreed with Mr. Musk’s team over how Twitter should meet its obligations to the Federal Trade Commission. Twitter had agreed to a settlement with the F.T.C. in 2011 over privacy violations, which requires the company to submit regular reports about its privacy practices and open its doors to audits.

On Wednesday, a day before a deadline for Twitter to submit a report to the F.T.C., Twitter’s chief information security officer, Lea Kissner; chief privacy officer, Damien Kieran; and chief compliance officer, Marianne Fogarty, resigned.

In internal messages later that day, an employee wrote about the resignations and suggested that internal privacy reviews of Twitter’s products were not proceeding as they should under the F.T.C. settlement.

Some engineers could be required to “self-certify” that their projects complied with the settlement, rather than relying on reviews from lawyers and executives, a shift that could lead to “major incidents,” the employee wrote.
That is just a small excerpt. The whole story goes on like that. And doesn't even get into the whole $8 blue check fiasco which has allowed an army of trolls to impersonate and embarrass all of Twitters corporate advertisers and prominent people. For example, I don't think Eli Lilly was amused by this:


0 x
A fool can throw out more questions than a wise man can answer. -RZehr
Bootstrap

Re: Elon Musk. Twitter. Babylon Bee.

Post by Bootstrap »

Josh wrote: ↑Fri Nov 11, 2022 1:50 pm This is entirely political, Boot ...
Only because the right wing has declared that Elon Musk is a celebrity hero for conservatives. And apparently, also for some conservative Mennonites. Celebrity political culture is a thing on MN.

If you take the politics out of it, Elon Musk is now running a company, we don't really know what he will do with it yet.

Free speech is not in danger. He has every right to fire half his company, including much of the leadership, before he even has a chance to settle in. Advertisers have every right to decide if they want to play along. The government has every right to enforce laws if he breaks them. It's a private company. In a year, we will know how well that worked out.
0 x
Ken
Posts: 21863
Joined: Thu Jun 13, 2019 12:02 am
Location: Washington State
Affiliation: former MCUSA

Re: Elon Musk. Twitter. Babylon Bee.

Post by Ken »

Bootstrap wrote: ↑Fri Nov 11, 2022 5:37 pm
Josh wrote: ↑Fri Nov 11, 2022 1:50 pm This is entirely political, Boot ...
Only because the right wing has declared that Elon Musk is a celebrity hero for conservatives. And apparently, also for some conservative Mennonites. Celebrity political culture is a thing on MN.

If you take the politics out of it, Elon Musk is now running a company, we don't really know what he will do with it yet.

Free speech is not in danger. He has every right to fire half his company, including much of the leadership, before he even has a chance to settle in. Advertisers have every right to decide if they want to play along. The government has every right to enforce laws if he breaks them. It's a private company. In a year, we will know how well that worked out.
It is going to be a lot sooner than a year
0 x
A fool can throw out more questions than a wise man can answer. -RZehr
Josh

Re: Elon Musk. Twitter. Babylon Bee.

Post by Josh »

It’s like you guys have never seen a leveraged buyout before. This just happens to be one the press and the left wing government doesn’t like.
0 x
Ken
Posts: 21863
Joined: Thu Jun 13, 2019 12:02 am
Location: Washington State
Affiliation: former MCUSA

Re: Elon Musk. Twitter. Babylon Bee.

Post by Ken »

Josh wrote: ↑Sat Nov 12, 2022 8:15 am It’s like you guys have never seen a leveraged buyout before. This just happens to be one the press and the left wing government doesn’t like.
What's not to like? This stuff is comedy gold. We are witnessing in real time the most expensive mid-life crisis in the history of the world. I can't wait for the movie.
0 x
A fool can throw out more questions than a wise man can answer. -RZehr
nett
Posts: 1953
Joined: Thu Sep 03, 2020 3:22 pm
Affiliation: Midwest Fellowship

Re: Elon Musk. Twitter. Babylon Bee.

Post by nett »

Ken wrote: ↑Sat Nov 12, 2022 11:56 am
Josh wrote: ↑Sat Nov 12, 2022 8:15 am It’s like you guys have never seen a leveraged buyout before. This just happens to be one the press and the left wing government doesn’t like.
What's not to like? This stuff is comedy gold. We are witnessing in real time the most expensive mid-life crisis in the history of the world. I can't wait for the movie.
Expensive? Sounds like you're one of those people who thinks Musk had to withdraw money from his checking account for the acquisition.

In reality, Musk had enormous numbers of Tesla options expiring that he had to deal with. Buying Twitter was a perfect way to offload them without affecting tesla stock too much. It's all fake money anyways.
0 x
Ken
Posts: 21863
Joined: Thu Jun 13, 2019 12:02 am
Location: Washington State
Affiliation: former MCUSA

Re: Elon Musk. Twitter. Babylon Bee.

Post by Ken »

nett wrote: ↑Sat Nov 12, 2022 6:06 pm
Ken wrote: ↑Sat Nov 12, 2022 11:56 am
Josh wrote: ↑Sat Nov 12, 2022 8:15 am It’s like you guys have never seen a leveraged buyout before. This just happens to be one the press and the left wing government doesn’t like.
What's not to like? This stuff is comedy gold. We are witnessing in real time the most expensive mid-life crisis in the history of the world. I can't wait for the movie.
Expensive? Sounds like you're one of those people who thinks Musk had to withdraw money from his checking account for the acquisition.

In reality, Musk had enormous numbers of Tesla options expiring that he had to deal with. Buying Twitter was a perfect way to offload them without affecting tesla stock too much. It's all fake money anyways.
If it is all “fake money” why is he doing so much whining about losing billions in advertising dollars and why is he firing half the staff and trying to get everyone to pay him $8 for a useless blue check?
0 x
A fool can throw out more questions than a wise man can answer. -RZehr
temporal1

Re: Elon Musk. Twitter. Babylon Bee.

Post by temporal1 »

.. witnessing in real time the most expensive mid-life crisis in the history of the world. ..
his is more interesting and productive than yours.

OP, P.1:
.. It might be interesting to witness what unfolds with EM’s purchase of twitter (the reality, not emotional speculation).
Not gossip-y speculation/criticism intended to do nothing more than smear.
0 x
User avatar
Robert
Site Janitor
Posts: 12078
Joined: Wed Oct 19, 2016 4:16 pm
Affiliation: Anabaptist

Re: Elon Musk. Twitter. Babylon Bee.

Post by Robert »

Ken wrote: ↑Sat Nov 12, 2022 6:13 pm
If it is all “fake money” why is he doing so much whining about losing billions in advertising dollars and why is he firing half the staff and trying to get everyone to pay him $8 for a useless blue check?
I could set up a two tiered system here and charge you $7 a month. This way it is cheaper then Twitter. I could let you each choose if you wanted a blue or a red name. Red would be the symbol of the Blood of Christ. Blue would be .. evil ... just as it is in politics. :lol:
0 x
Try hard not to offend. Try harder not to be offended.
I think I am funnier than I really am.
Josh

Re: Elon Musk. Twitter. Babylon Bee.

Post by Josh »

Ken wrote: ↑Sat Nov 12, 2022 11:56 am
Josh wrote: ↑Sat Nov 12, 2022 8:15 am It’s like you guys have never seen a leveraged buyout before. This just happens to be one the press and the left wing government doesn’t like.
What's not to like? This stuff is comedy gold. We are witnessing in real time the most expensive mid-life crisis in the history of the world. I can't wait for the movie.
A standard leveraged buyout has a large layoff followed by the new owners giving somber statements about how bad losses are and possible bankruptcy. They try to smash the valuation of the company as low as possible.

This makes the debt used for the LBO trade at a discount. The bond holders of Twitter’s LBO are trading at 60¢ right now. Then the new owners will buy out that debt and either own the company outright or refinance the debt.

This has been done many many times. Elon Musk is no fool. He knows how to make a lot of money, using things like complex financing.
0 x
Post Reply