Elon Musk named sole director of Twitter, dissolves board

[brooklynite]

Source: The Hill

Elon Musk has been named sole director of Twitter, dissolving the board in place before he completed his $44 billion acquisition of the company, the social media platform said in a securities filing on Monday.

Musk became the sole director of the company “in accordance with the terms of the Merger Agreement,” the company told the Securities and Exchange Commission.

Twitter’s board members Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li and Mimi Alemayehou will no longer serve on the board, the company said.

The disbanding of the board is among the string of changes the billionaire Tesla and SpaceX CEO put in place after assuming ownership of the company last week, concluding a six-month process.

Read more: https://thehill.com/policy/technology/3712742-elon-musk-named-sole-director-of-twitter-dissolves-board/

[AllaN01Bear]

1. when will the slob father come on board.?

[brooklynite]

3. Elon Musk is NOT "pro-Trump"

Why would he want a failure interfering in his business?

[Elessar Zappa]

11. "Elon Musk is NOT 'pro-Trump'"

You sure about that? He’s been inching right for several months now.

[brooklynite]

14. As with the Supreme Court, "right wing" is also not "pro-Trump"

He seems to be a free speech absolutist, but he's also a one-man band when it comes to management.

[rogue emissary]

25. He doesn't seem to be a free speech absolutist.

He cancelled an order of a journalist that didn't write a glowing review of a new Tesla model.

Fired a Tesla employee that did a video about an issue the Tesla drivers were experiencing.

He uses NDAs in most of not all of his companies, and in his personal life. it's why it took multiple journalist to discover all the children he has spawned.

The only thing he is free speech about is people being able to use racist and anti trans language.

All of these examples show a man that doesn't advocate for free speech. He uses his power and his money to stifle speech. He also continually punishes anyone that he can that doesn't worship him or his products.

[I_UndergroundPanther]

31. Capitalism rewards sociopaths.

[hamsterjill]

17. Musk is currently the hero of the month

For all the QAnons that I watch on Facebook.

That’s enough for me to be suspicious.

[mahatmakanejeeves]

2. When you know everything, what do you need a board of directors for?

Last edited Tue Nov 1, 2022, 12:46 PM - Edit history (1)

He owns most, and the Saudis own the rest, or are there any other owners I've missed?

[GreenWave]

4. That's right. Now he's a sole man (song)

[LastDemocratInSC]

23. Yes, a sole man.

Because he reminds me of something that's gross when it gets stuck to the sole of one's shoe.

[Initech]

5. What could possibly go wrong?

[iemanja]

6. A dictator

No wonder he likes Trump. Is Twitter publicly traded? If so, I wonder how the stock is doing?

[Cha]

12. I've read on here that

it's private.. and there's this..

How Twitter Will Change as a Private Company

https://www.nytimes.com/2022/10/28/technology/twitter-changes.html#:~:text=The%20social%20media%20company%20went,his%20acquisition%20of%20the%20firm.

[thesquanderer]

38. Good NYT article. So it's not as dictatorial as it sounds in the OP, but rather seems to be...

...expected "standard operating procedure" for when a public company goes private. Thanks for the link.

[NullTuples]

7. Glad I'm not the only one who read that as, 'Dictator'.

So now he and the company are only accountable to the investors, specifically....oh, wait. Who ARE the investors? Early in the year a number of third tier big lenders were mentioned but they pulled out as Tesla & Twitter stock dropped as the investment was no longer at all assured of being paid back. So...who funded this purchase, and did they buy Brett Kavanaugh's debt, too?

[LudwigPastorius]

8. ...because men with an extraordinary amount of power, who think they are the ones who should...

steer humanity's destiny based on their beliefs, always works out great!

[brooklynite]

9. My response...

Link to tweet

[LuvLoogie]

10. He'll block or sell out democracy, Ukraine, Russians and Iranians

fighting for freedom, civil rights, democracy.

[ificandream]

13. Chief Twit is right.

[IronLionZion]

15. From twitter to shitter

TFG also enjoyed firing people

[Obvious85]

16. Remember when Rupert Murdoch's News Corp . bought Myspace in 2009 for $580 million.

Just a few years later, Murdoch sold the obsolete platform to a media company for $35 million

[Martin68]

18. Buying and taking over his own international soapbox.

I hope he loses money.

[berniesandersmittens]

19. Ego Musk nt

[salin]

20. Am I the only one who reads Chief Twit's Pelosi disinfo/malicious tweet and hear

KanYe's voice saying: "Now What?"

[bahboo]

21. how Stalinesque...

[marble falls]

22. I don't like twitter or Musk. May they both be the agent of each other's complete leveling.

[I_UndergroundPanther]

24. Musk arrogant

Bully in an adult body with too much money and having too much money so easily buys power,another good argument against capitalism and the ogliarchies it creates.

stupid little sociopath.
A lot of over rich people have no moral compass. Too much money can make people entitled assholes with no incentive to be decent people. Capitalism is not compatible with democracy.
Zero sum bullshit destroys freedom.
Musk disgusts me.

[Elessar Zappa]

27. I think capitalism is compatible with democracy

but it needs plenty of regulation, sufficient taxes, and a healthy safety net. Scandinavian countries, while not perfect, tend to be good examples of this.

[I_UndergroundPanther]

30. Always capitalism

Creates super rich people who will use thier money to undermine democracy.
Capitalism is like a cancer or sociopathy it infects democracies abuses the rule of law and eventually kills them.

Its the nature and flaw of basing an economy on greed and selfish interest.

Capitalism has failed as a system. It will kill this planet and everything on it.

[Elessar Zappa]

32. The alternative, which is socialism,

has not worked and will not ever work. Look at the USSR, Cuba, North Korea, Venezuela, Cambodia, etc.

[I_UndergroundPanther]

36. There are a few other alternatives

To both capitalism and communism out there,check it out.

https://www.filmsforaction.org/news/alternatives-to-capitalism/


https://www.rdwolff.com/

[Hekate]

26. Absolute monarch of all he surveys

[kimbutgar]

28. He ruined a lot of people's life's who were employed there

They were supposed to get stock as part of their compensation and he screwed them over. There will be a massive brain drain at Twitter and the software engineering part could collapse and make the website unsustainable.

The ghoul wrecked a lot of families Halloween today In SF.

[Evolve Dammit]

29. I would not be surprised if the House goes to Repukes if Orange Julius is named Speaker and

Musk is elevated to Special something. Because if they win the House, it will be a fucking no holds barred circus. They are in lockstep with the Chosen One and totally willing to do his bidding. My Dog, the time is nigh. VOTE!

[kgray96057]

33. Musk, Trump, Twitter

Trump, probably around the time he finally announces his run for his final term- the timing of which depends on how the regressives do in the midterms- will announce the sale of Truth Social to Twitter. Trump will claim that the whole point of Truth was to promote a free speech alternative to Twitter, and since Musk has taken over Twitter, it is a better free speech platform, and as it has a bigger audience, it makes more sense to fold the two together.

Musk gets a bunch of new users, as well as a mailing list. Trump gets back on Twitter, with its larger audience, without looking like he jumped his sinking ship, or admitting it was all a grift, and, depending on the negotiated purchase price, gets to shut it down without being perceived as losing money.

[Delphinus]

34. Ooh,

scary thought.

And welcome to DU!

[ificandream]

35. That sounds too logical to be Repughlican true, but it probably will happen just like that.

[Sympthsical]

37. What will he do without the bureaucracy?

I suspect fear will keep local tweeters in line. Fear of his charging station.