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rat king 🐀 Profile picture
@MikeIsaac
Oct 30, 2022 • 2 tweets • 1 min read • Read on X
so my understanding is at twitter HQ, the folks running things in the “war room” are Musk, David Sacks, Jason Calacanis (VCs/Elon pals) Sriram Krishnan (exTwitter/current a16z), Elon’s legal and finance head guys (Spiro, Birchall) and a fleet of Tesla/BoringCo engineers
more on the recent immediate changes from @kateconger @LaurenSHirsch @RMac18 from Friday

nytimes.com/2022/10/28/bus…

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More from @MikeIsaac

rat king 🐀 Profile picture
Apr 15
good morning! day two of FTC vs meta — i am in the DC blogging cave today, colleague @ceciliakang and i will be in and out of court

mute me if you do not love court tweets talking about antitrust theory and zuckerberg testimonies
an enjoyable percentage of this trial so far is Zuckerberg sort of explaining what Facebook and Valley insider terms mean to the judge and the court and me feeling smug b/c i already knew them

"surface"
"native code"
etc
also as someone who was writing all this as it happened: loving the window into Facebook as it was considering buying Instagram and Path (!?) for a lot of money

David Ebersman, former CFO, for example, was not feeling it

Sam Lessin, former VP, was like "lets buy like every app"
Read 15 tweets
rat king 🐀 Profile picture
Aug 20, 2024
the twitter takeover loans were such a bad deal for investment banks that some bankers are getting their annual comp cut by nearly half because they cant offload them from their books without gigantic losses Image
"worst deal since the financial crisis"

i am not an M&A banker but that sounds bad

wsj.com/tech/elon-musk…
also funny — they knew the deal was dogshit but couldnt say know because it could likely lead to future deals Image
Read 4 tweets
rat king 🐀 Profile picture
Nov 21, 2022
hooooly shit⁩ nytimes.com/2022/11/20/bus…
honestly risky for iger’s own legacymaking — he was already cemented as goated CEO with some of the best acquisitions ever

now you gotta wade back into the muck….
chapek already erased and replaced on the investor relations site

damn Image
Read 4 tweets
rat king 🐀 Profile picture
Nov 10, 2022
currently an emergency twitter all-hands going on with Elon Musk answering employee Q's

Elon was asked: "How are you going to deal with the expected attrition and align everyone on a shared vision?"

Elon Answer: "I don't know....we all need to be more hardcore."
updates to come in today's story w/ @kateconger and @RMac18

nytimes.com/2022/11/10/tec…
on the call, Musk was also asked about the company's financial runway and how it was doing in terms of the business

Musk mentioned that TWTR had "net negative cash flow of several billion dollars" and that he recently sold a bunch of Tesla stock in order to "save the company"
Read 4 tweets
rat king 🐀 Profile picture
Jul 9, 2022
six outcomes in musk land:

1. Elon changes his mind (again) and the deal closes

2. Twitter sues Elon, they go to court in Delaware, Elon is ordered to pay $1b breakup fee

3. Twitter sues Elon, court orders “specific performance” and he has to pay debt financing amount ($33b~)
4. Twitter sues Elon, court orders in elons favor, he walks away

5. Twitter sues Elon, they settle for undisclosed amount

(@matt_levine’s emergency newsletter today has a real good section on what may bring that about and how)
then there number six which people keep bringing up and I have no idea of the answer to:

Twitter sues Elon, court rules in elons favor, elon refuses to comply anyway

literally dunno what happens here; maybe the courts go after the banks who are lined up for debt financing?
Read 9 tweets
rat king 🐀 Profile picture
Jul 8, 2022
and here’s Elon officially trying to back out of the deal

sec.gov/Archives/edgar…
key word: “trying”
hey @matt_levine summer fridays are over
Read 7 tweets

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