this post was submitted on 01 Jul 2023
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Mildly Infuriating
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IIRC, causing its value to plummet is the easiest way for him to get out of this whole fiasco via bankruptcy (remember, he was basically forced into buying it). He played a stupid game and won a stupid prize and now he’s desperately trying to find a way out.
I still need a little guidance here so I can understand. Let's say Twitter did go bankrupt, then what would happen? Would Elon be off the hook for the billions of dollars he owes to his financers?
I don’t recall the specifics of the one article I read about this, but yes, I think being able to declare bankruptcy gives an out for at least some of the debt. I believe there was also some way that doing so protected Tesla but can’t recall exactly how that worked.
This just doesn’t seem like a “he’s just bad at running a company” situation. A company of Twitter’s age and maturity could have run itself for quite some time if Elon just let it continue on. He’s doing this intentionally for some self-serving reason.
Or maybe he was financed to run it down?