Jack Dorsey attacking his twitter board
https://nypost.com/2022/04/18/jack-dorsey-rips-tw…
I found this kinda suprising, seems like those woke assholes kicked him out of his own company. Also what do you guys think about the fact that the twitter board is enacting an poison pill to fight off Elon Musk, even though they hardly have any ownership in the company?
It's completely messed up. Twitter -- for all the attention it aggregates -- has such crappy monetization that even platforms created within the past 5-7yrs are doing better. They have proven totally unable to generate real economic value. Now the Board, despite owning almost nothing of the overall company, kicked Jack out once (and maybe pushed him out again), turned the platform into a woke cesspool and has the temerity to reject an offer premium >50%? The frickin founder supports Elon's proposal
Makes no sense, honestly hope Elon takes the company if for no other reason than to fire these incompetent idiots, open source the code and truly make it a free speech platform. Accountability & transparency is what's needed here.
Arguably that just gives them more negotiating ability versus Musk. (At least that's a common defense of poison pill). However they aren't even properly negotiating it seems and look like they just want to make Musk go away. Hope Musk sues them to set precedent for this kind of board behavior. Horrible governance.
I’m thinking the board is being severely retarded and are quite literally turning away free money.
We need not look further than their own advisor’s assessment: if twitter stays in its current path it will go down to 30$ and here is a guy offering almost double! And the value proposition is there. Elon’s thesis is that twitter appears to have turned off right-wing users (who are half the population) who now either left or just use twitter passively. With new management the stigma also leaves and so those users may come back. Twitter would essentially build DWAC but if the team wasn’t retarded.
In my opinion the only reason this isn’t a done deal is politics because the money makes perfect sense. That said, the one thing I love about capitalism is that money talks so if these monkeys put politics above money, eventually literal garbage like DWAC will beat twitter. Seriously, Trump and his team appear to be technologically incompetent but give them enough time and they will figure out how to set up a server (it’s actually not that complicated). This is twitter’s last chance to stay relevant. Because once DWAC stops being garbage, half of the US will go there. And once they are there, left wing people will be unable to resist joining so that they can debate with the right wing. And then twitter will just be some kind of news blog used by 10 people.
I used to use Twitter a fair amount - deleted it after they started kicking people off the platform.
Jesus get trumps cock out of your mouth so you can finish a sentence without mentioning DWAC
Mr. Wonderful said it wonderfully. The board is incredibly inept and has turned Twitter into the least successful social media company when it has virtually no competitors in terms of its core value proposition. The fact that they have banned Trump and other right-leaning/anti-establishment political figures in the US and Europe while they allow the leadership of Iran, Palestine, Pakistan, and other foreign authoritarian regimes to freely preach death or propaganda about various ethnic groups is hysterically tone deaf.
The board and management of Twitter have not been running a business, they have been wielding a political sword on behalf of the interests of themselves and certain groups that they/their politicians support. They violated their financial duty to shareholders by kicking Trump off the platform because he was in fact one of the best things that ever happened to them. People forget that Twitter was dying a slow death and bleeding users till Trump ran for office, which brought tons of conversations around controversy to Twitter. There are people's whose entire career became being a "Trump Reply Guy" then running the news circuits. He was a huge draw to the platform that they unilaterally iced (while he was sitting President no less).
Banning users that are popular and controversial is not in the interests of the company. The morons who get offended about everything have insane retention metrics (they're literally addicts, look up the something like 10% of users generate >90% of content on Twitter and realize the majority of them are woke) and won't go anywhere, they'll just bitch and moan then move on to the next cause. There is no financial incentive for Twitter to ban users unless they are breaking the law (posting CP, using it as a platform to organize terrorism which ironically has happened, violating copyrights, etc.). The fact they enforce woke rules is a detriment - the majority of the world is NOT WOKE. If you look at countries in South America and Asia they look at this woke stuff happening in the West and laugh their assess off because it's shit that only comes up when people don't face any real hardship. Wokeness and political correctness is born out of the luxury of Western society causing people to search from struggles to face where there are none. Here's hoping Elon beats the woke horse to death and saves Twitter, because I genuinely believe that out of all the social media giants Twitter is the one with the most genuine utility from a societal POV. Godspeed rocketman.
100%. If it's not a political sword, why wouldn't a company that has chronically been unable to unlock value not take a >50% premium? It's purely political. I noticed all my far left wing friends (to be fair, that is 3 people as that's the most I can tolerate) are bashing Elon right now & totally against it becoming a free speech platform -- which frankly pisses me off. It's very deep hypocrisy. While my right wing (don't have any on the far right but quite a few that are right of center) friends support the proposal & moderate fiends are more a mixed bag. Regardless, seems there are lots of potential backers to help on the financing from Kevin O'Leary to Silver Lake. I hope there is a competing offer -- which will make the board's position totally untenable -- and Elon shoots 10-20% above that to force a sale. Don't know how it'll play out, it's wait and see
The irony of them suddenly turning on the African American electric car, space exploration, solar panel guy is not lost on me.
I truly do not understand why either side would be against it unless you are one of the crazy left. Elon is not trying to push any type of agenda aside from free speech, isn't that what America believes in ?
I've looked at a fuck ton of paid media spend and never seen anyone spend significant amounts on Twitter. Their ad platform is horrible despite being one of the older platforms that has a ton of time to get it right.
Conversely, have seen everything else ranging from taboola to pinterest work...
Yeah, for these large Twitter investors, it's a vanity investment. They want to own a large slice of Twitter to influence public policy. I don't think BlackRock, et al care at all about their fiduciary responsibilities.
What I find really disquieting is how organizations like BlackRock can use trillions of dollars of other people's money to wield for themselves political power. And it's not like individuals can really just pull their money out in protest. BlackRock has something like $10T in AUM--that money is coming from a lot of random people who have no idea who is managing their money (employees who are part of a pension fund), and even if they wanted to they really couldn't pull their money out. So BlackRock has this captive audience of investors and the executives use the investor money for their own personal political influence. It's so corrupt.
Yeah it;s unbelievable that not only is the company badly run, even Snap is doing adds a lot better, also the woke nuttiness seems without bounds.
Now they cancelled libs of ticktock, an account that posts other posts of insane woke leftits. They really are unhinged.
I wonder how much effect on viewership and stuff this shit has on the company, can't be a good strategy to basically declare war on half the country. A lot of conservatives are still on there, because of the lack of a alternative with the same viewrship at this point.
There are some people, among them Elon that say that Netflix had a absolute horrible quarter and guidance because of all the Woke garbage content they have been adding, especially last couple of years. I think this might be a factor,among other things like the end of must of the covid measures.
I would be great and also necessary for a civil society if companies would get burned if they try to manipulate politics and culture in this destructive way. Unfortunately twitter is among the many that are guilty of this,
Hopefully something changes and go woke go broke really becomes a thing.
I saw that Ron DeSantis is going to be looking into going after the Twitter board. Apparently, the state of Florida pension fund owns Twitter stock and there is a feeling that the Board of Directors at Twitter is violating its fiduciary responsibility to investors. I don't expect much to come of it (too good to be true), but who knows? DeSantis is a machine.
I gotta say this: F*ck Trump. DeSantis '24.
100%
Florida Senate just stripped Disney of exclusive privileges they had in the state for over 60 years for the woke shit they pulled with the Parental Rights in Education Bill. That state is on a roll.
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