I have an excuse

OK, so my thought that Elon Musk’s bid to buy Twitter might be just a ploy to drive the stock price up long enough for him to dump his shares and make a profit was completely wrong.

It seems he’s serious about this and is making a tender offer directly to shareholders, bypassing the Board.

How is this possible? Well, that speaks to my excuse.

I didn’t think Musk’s intention to buy Twitter could be serious because who in their right mind would think the authoritarian leftists on the Twitter board would consent to selling their shares to someone diametrically opposed to their aims?

But that was based on the assumption that the Twitter board of directors were actually the people invested in the company. Silly me.

As Musk pointed out, the vast majority of the Twitter board’s ownership is in the hands of co-founder Jack Dorsey—some 2.4% of the company—versus about 2.6% owned by the entire board, including Dorsey.

Holy Cow…no wonder they’re willing to disregard the financial interests of shareholders in support of their political agenda…they have very little financial skin in the game. It’s not their financial interests they’re throwing under the bus, it’s other people’s.

But that’s just the leftist way, isn’t it? When conservatives see a need, they give their own money to try to solve it. When leftists see a need, they take other people’s money, skim some off the top, give most of the rest of it to their cronies and then whatever scraps are left are squandered on “solutions” that do nothing than make the original problem worse…which makes sense, because making the problem worse keeps the gravy train rolling. If you solve the problem, you don’t have an excuse to keep taking other people’s money, now do you?

At any rate, my mistake was assuming that the members of Twitter’s board actually owned a significant enough amount of twitter that they could prevent a Musk takeover by simply refusing to sell him their shares.

Not the case. If Musk can convince the actual shareholders (you know, the one’s who’s financial interests are being thrown under the bus by the board) to sell their shares to Musk, he can buy the company right out from under the board.

I’m not exactly a big fan of Elon Musk, but in this case, I’m rooting for him.

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