In this YouTube commentary, the speaker outlines the ongoing legal battle between Twitter and Elon Musk regarding Musk's $44 billion agreement to acquire the platform. Twitter has filed a lawsuit to force Musk to complete the purchase, invoking a $1 billion mutual termination fee clause. The dispute centers on the proportion of spam, bot, and fake accounts on Twitter: the company claims only about 5 % are fraudulent, while Musk and his lawyers demand proof, suspecting a much higher figure. The speaker notes that both Tesla and Twitter share prices have fallen, eroding Musk's net worth and prompting speculation that he wants to back out. Twitter's lawsuit accuses Musk of reneging, damaging the company's reputation, and violating Delaware contract law. The commentator shares personal opinions, questioning the 5 % figure, expressing a desire for Musk to turn Twitter into a free‑speech platform, and invites viewers to comment. The video concludes with a promotional pitch for free financial‑education resources, asking viewers to type “toolkit” for gifts.
Chapters
Twitter are suing Elon Musk. Wow, this is massive news. This is going to be a quick one. Twitter are suing Elon Musk, trying to force him into committing to buy Twitter. He did a $44 billion, um, in-principle deal with Twitter. Uh, they actually had a $1 billion mutual cancellation fee. So if one of the parties didn't pull, push through with the deal, then there was a $1 billion fee payable to the other party. Now this has been an ongoing battle, a bit of a tit-for-tat sharing of dirty laundry. And to be honest, I've been researching this, though there's always more to learn, but I feel like probably Elon Musk is entitled to push to get proof of how many users Twitter have that are bought, fake, or spam. And according to Elon Musk, Twitter is not forthcoming with the information. Thank you. Of course, if you'd put a $44 billion offer on a social media platform based on a number of live active users, wouldn't you want to pull out of the deal or reduce your price if you'd been told inaccurate information on those number of live active users. Um, so I'm going to give you Twitter's side of it now because Twitter have come guns blazing fighting back. They have sued Elon Musk, um, not for defamation, which I think that they think he's creating, but to actually get him to push through with the deal. Um, but, uh, Twitter say to Elon Musk there is 5% spam, bot, and fake accounts. Elon Musk says prove it. Elon Musk's lawyers are saying that Twitter aren't forthcoming with that information. Until they get that accurate information, the deal is on hold. The thing with Elon Musk is he gives you the running commentary on Twitter, so this is kind of like quite ironic. Um, and I think Twitter have had enough. So let me tell you Twitter's response. Twitter have sued Elon Musk for, um, basically to get him to commit to the purchase. And then this is what they say: having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Mr. Musk apparently believes that he, unlike every other party subject to Delaware contract law, is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away. This is what the lawsuit said. Let me say that again one more time for you. Twitter's lawsuit has said— let me know what you think in the comments, by the way— having mounted a public spectacle to put Twitter in play and having proposed and then signed the seller-friendly merger agreement, Mr. Musk apparently believes that he, unlike every other party subject to Delaware contract law, is free to change his mind trash the company, disrupt its operations, destroy stockholder value, and walk away. Now, some people believe that Elon Musk's gone in above his head. He hasn't got the money now. Tesla shares have gone down a lot, Twitter shares have gone down a lot, so he wants to pull out of the deal. And I think this is the point that Twitter are making. But Twitter want to force and impose him to buy Twitter at the agreed $54.20 a share. Okay, Mr. Musk then tweeted saying, "Oh, the irony, LOL." Now, Twitter have also said, "The value of Mr. Musk's stake in Tesla, the anchor of his personal wealth, has declined by more than $100 billion from its November '21 peak. So Mr. Musk wants out. Rather than bear the cost of the market downturn, as the merger agreement requires. Mr. Musk wants to shift it to Twitter's stockholders. So Wayne said everyone has a right to confirm what he's buying. I agree. Um, now if Twitter have published the proof of only 5% spam, fake, and bot accounts, fair enough. But according to Elon Musk and his lawyers, they have not done that. If I was Elon Musk and I was buying Twitter for $44 billion based on 95% live, real, and active accounts, I'd want that proof. And if there are only 70% live, real, and accounts, I'd want to adjust my price accordingly because what are you buying from Twitter? You are buying users. That's what you're buying. Twitter have gone on the offensive saying that, um, he's reneging on the deal, his net worth's taken a massive hit, he's dragged Twitter's reputation through the mud, and now his net worth has gone down and Twitter's value has gone down. He wants out. Twitter are now suing him in court to commit to the deal. This will be interesting to see what happens. Let me know what you think is going to happen in the comments. Let me know if you think Twitter are entitled to push him through and get the deal done. Let me know if you think Elon Musk's entitled to see how many spam, fake, and bot accounts there are. But this is now airing of dirty laundry. This has all gone public. I think this is massive news because I actually really want Elon Musk to buy Twitter and make it more of a free speech platform, not have so many people cancelled, deplatformed, and shadowbanned, and have an open source algorithm. And this could be huge and disruptive, and all other social media channels might have to follow suit if Elon Musk can get the deal done, which is why I'm doing these lives on it. In my opinion, there's way more than 5 fake spam and bot accounts on Twitter. Someone told me Joe Biden has up to 50% bought fake accounts. I don't know, I can't say that, but do you really think there's only 5% fake spam and bot accounts on Twitter? Come on. Come on, let me know what you think anyway in the comments. Hit the share button. Um, quick summary, um, Twitter have now sued Elon Musk to get him to commit to the deal to buy Twitter for $44 billion. Um, Tesla and Twitter shares have gone down a lot, and that's why Twitter are saying that he's pulling out. Twitter are also saying that Tesla, um, Elon Musk has been damaging the reputation of Twitter. This is the quote: Having mounted a public spectacle to put Twitter in play and having proposed and then signed a seller-friendly merger agreement, Musk believes that he, unlike every other party subject to Delaware contract law, is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and then walk away. Um, the lawsuit went on to accuse Elon Musk of a long list of violations, um, which have cast a pall over Twitter and its business. That's Twitter's side. Elon Musk's side is prove there are 5% fake spam and bot accounts, because I think he believes there are a lot more. Let me know what you think. Hit the share button. I've got to get out of here now. Just a quick one though. I'm on a mission to help everyone achieve better financial education and knowledge, to start and scale their business, um, and to create multiple streams of income and to create autonomy and freedom. If you'd like some gifts from me, just type in, um, toolkit in the comments. I'll give you some financial resources and gifts on me for free. How to save up to half your salary in costs, um, strategic and practical ways to start and scale a business and build online digital assets. Just simply type in toolkit in the comments and I'll share free resources for you. You'll also get weekly financial resources from me, interviews with billionaires, daily money tips, um, that are short form to help you get better financial education and knowledge. Just write toolkit in the comments. I'll see you um, in your resources area for free gifts from me. And let me know what you think about Twitter suing Elon Musk.
