[J-P (as in plug)]

News this morning that Elon Musk owns a 9.2% stake in Twitter (73,486,938 shares!) has my head spinning.

Twitter shares close up 27% after Elon Musk takes 9% stake in social media company

Tesla CEO Elon Musk has taken a big stake in the social media company Twitter, a regulatory filing released Monday showed.

www.cnbc.com

Just days ago he was openly speculating on the need to build a competing platform. So what happened?

I guess less surprising is the news that twitter's stock price is now up 20%!

 

[Canyonero!]

Just days ago he was openly speculating on the need to build a competing platform. So what happened?

Maybe he took a look at the success that current Twitter "alternatives" are having?

 

[Yellow Buddy]

News this morning that Elon Musk owns a 9.2% stake in Twitter (73,486,938 shares!) has my head spinning.

Twitter shares close up 27% after Elon Musk takes 9% stake in social media company

Tesla CEO Elon Musk has taken a big stake in the social media company Twitter, a regulatory filing released Monday showed.

www.cnbc.com

Just days ago he was openly speculating on the need to build a competing platform. So what happened?
View attachment 5268

I guess less surprising is the news that twitter's stock price is now up 20%!

He didn't say the competition had to come from outside. VW owns and controls Porsche by buying up their shares.

 

[Sultanum]

He didn't say the competition had to come from outside. VW owns and controls Porsche by buying up their shares.

Agreed. Likely at the time of the poll he was already buying shares because you don't build an over 2 billion dollars position overnight.

 

[eHauler]

I wonder if it has to do with him expecting increased activity on Twitter with the 2022 midterms.

 

[lefkonj]

This impacts Rivian how? Elon bought a stock and drove up the value, shocking. Wait for it, he sells his stake for a profit and keeps most of it..... Wow once again, how does this impact Rivian or our ability to drive a Rivian.

 

[Sultanum]

This impacts Rivian how? Elon bought a stock and drove up the value, shocking. Wait for it, he sells his stake for a profit and keeps most of it..... Wow once again, how does this impact Rivian or our ability to drive a Rivian.

It doesn't. But we are a bunch of like minded individuals. Is it a big deal if we discuss the stock trades of the CEO of Tesla, which is Rivian competitor?

 

[Sultanum]

I wonder if it has to do with him expecting increased activity on Twitter with the 2022 midterms.

He is currently the largest stakeholder at Twitter. I don't think he's planning on selling it anytime soon. He probably has some grand vision for the company. Which seems to be how he operates.

 

[ERivTruck]

Probably so he can continue his willful violation of SEC communication agreement!

 

[Sultanum]

Twitter just announced that they are adding Musk to the board of directors. Personally, he posted a question on twitter if users would like to have an edit feature on twitter. If he can get that done I am already happy! kkkk

 

[eHauler]

He is currently the largest stakeholder at Twitter. I don't think he's planning on selling it anytime soon. He probably has some grand vision for the company. Which seems to be how he operates.

Yup, just read more into the story and it looks like he could be inching towards a controlling stake in the company.
Assuming there's a lot of truth to that, Twitter looks like a strong buy, even after the 27% increase.

 

[sciencegeek]

Musk is a sociopath with enormous resources and so it comes as no surprise that he stealthily accumulated an effectively controlling stake in his favorite messaging platform and thereby bought himself a board seat too. It makes complete sense. He who controls the spice controls the universe.

And he might improve twitter in the process of accumulating more power for himself.

 

[eHauler]

Musk is a sociopath with enormous resources and so it comes as no surprise that he stealthily accumulated an effectively controlling stake in his favorite messaging platform and thereby bought himself a board seat too. It makes complete sense. He who controls the spice controls the universe.

And he might improve twitter in the process of accumulating more power for himself.

Even Bezos does something similar, he owns Washington Post. Of course, it's not comparable to Twitter but there's likely an overlap in motivations for owning it.

 

[Sultanum]

Musk is a sociopath with enormous resources and so it comes as no surprise that he stealthily accumulated an effectively controlling stake in his favorite messaging platform and thereby bought himself a board seat too. It makes complete sense. He who controls the spice controls the universe.

And he might improve twitter in the process of accumulating more power for himself.

And why wanting power is a problem. I also would like power to influence a thing or two, I am just not as competent as Elon Musk. In a free capitalist society people work and make money. Some exceptional people make a lot of money and can pursue other dreams.

Besides, the way he uses his power varies from harmless (sending a car to space) to beneficial (helping Ukraine, establishing electric cars as mainstream). So what is the problem?

To make it clear, I am NOT a Elon Musk fanboy. I am fan of the right for life, liberty and the pursuit of happiness. He is doing just that.

PS: While I did not agree with your post, I loved the Dune reference

 

[ERivTruck]

He who controls the spice controls the universe.

"I must not fear. Fear is the mind killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past, I will turn my inner eye to see its path. When the fear is gone, there will be nothing. Only I will remain."

 

[EaglesPDX]

So Twitter doesn't shut him down the next time he calls Thai cave rescue heros "pedophiles", or rah-rahs anti-science domestic terrorists while calling people who oppose them "Hitler". List goes on and on, Musk has become a bad actor, hubris in the extreme.