• Nooch
    6•2 years ago

    Elon’s next tweet: “Squatters Rights! Very Interesting!! We are looking into it!!”

  • @fox@beehaw.org
    5•2 years ago

    Twitter’s response to a request for comment regarding its Boulder offices was an automatic email with a poop emoji. Twitter CEO Elon Musk tweeted in May that this is the new auto-response for press inquiries.

    Wow!

  • Negative12DollarBillEnglish
    3•2 years ago

    I was a bit puzzled why they would even have a Boulder office, but then again, we are living through a reboot of “The Stand”, so …

    • Greyscale
      2•2 years ago

      The mill of the law turns slowly, but it does mill fine.

      • ArtZuron
        1•2 years ago

        IIRC, this toxic economic culture was started when Ford decided to pay their employees way more than their competitors, and they were still making bank and still the best in the market. Then a competitor sued them to stop them from paying their employees so well, because the competitors couldn’t (ie wouldn’t) compete with that.

        Ford lost the lawsuit on the grounds that they were legally obligated to wring as much money out of their business to earn their shareholders and investors dividends. By paying their employees more, they weren’t paying their investors more. Or some other zero-sum-game nonsense.

      • @marco@beehaw.org
        1•2 years ago

        Shareholders are only beholden to the value of their shares. The offer was simply too good to pass.

        Now the muskrat is the only shareholder and apparently he’s happier without decorum.

          • @NattyNatty2x4@beehaw.org
            1•2 years ago

            The banks don’t care how much Twitter is specifically worth, just that they get their money from somewhere. They’ll happily find Musk burning a company down if they’re also confident that he’ll be able to pay off his loans from somewhere else

      • @G0ldenSp00n@lemmy.jacaranda.club
        1•2 years ago

        Well the sale took twitter private, so Elon is no longer beholdent to share holders. Don’t get me wrong, he is an idiot and definitely deserves this downfall, but he can’t be sued by the shareholders since twitter is now privately owned.

      • cyd
        1•2 years ago

        Public companies have a duty to protect value for their shareholders, among other obligations. This is actually not an unreasonable rule of thumb, because public companies have a multitude of owners (the shareholders) who can’t always be polled on what the company should do, but one thing they have in common is that they want their investment to make money.

        Private companies can do whatever the owner wants. In Twitter’s case, the only other party with standing to sue Musk for destruction of shareholder value is the Saudi sovereign wealth fund (Kingdom Holdings), which declined to relinquish its stake when Musk took Twitter private. The Saudis probably don’t want to raise a public stink (i) it’s a loss of face, and (ii) they have more money than they know what to do with, anyway.

  • dantheclamman
    1•2 years ago

    If I just broke contracts left and right, my credit rating would be ruined and I’d struggle to get any more financing. Yet this guy continues to leave a longer trail of financial wreckage behind him with few consequences. Our financial system is broken

    • @maynarkh@feddit.nl
      2•2 years ago

      The social credit rating system is just for poor Americans. Most people in the world don’t have a credit rating, and neither do rich Americans or big companies.

  • @LemmyAtem@beehaw.org
    1•2 years ago

    Twitter’s response to a request for comment regarding its Boulder offices was an automatic email with a poop emoji. Twitter CEO Elon Musk tweeted in May that this is the new auto-response for press inquiries.

    I can’t believe this is real, what an absolute clown show.

      • 77slevin
        0•2 years ago

        Depends on your usage. I used it many times to get support for various services I paid for and didn’t get help using the regular channels. A public tweet to the company’s Twitter handle about an issue did wonders. Besides that I used it to follow like minded people in the same hobbies as me. I did nuke my account when Space Karen took over.