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Elon Musk and company take @x handle from its original user. He got zero dollars for it. (mashable.com)

submitted 1 year ago by SELECTstarFROMreddit@sh.itjust.works to c/technology@lemmy.world

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[–] narnach@feddit.nl 20 points 1 year ago (2 children)

Wait, that sounds like a leveraged buyout. I overlooked that detail in the news. It changes everything.

I know that some investment firms use leveraged buyouts to drain every bit of money from a company before they chop it up, sell the good bits and let the rest go bankrupt due to the massive debts left in the carcass of the old company. It's so scummy I wonder why it's not illegal.

[–] TWeaK@lemm.ee 10 points 1 year ago

It is a leveraged buyout, yes.