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Elon Musk now owns Twitter, apparently trying to run it into the ground


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1 hour ago, scoobdog said:

I know this isn't particularly important, but what exactly is the roman salute?  As far as I know, it's something Mussolini imagined while jerking off to a Imperial Roman statue, right? 

Idk but it’s the same salute. That’s all I know 😆

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6 minutes ago, discolé monade said:

“Don’t say Hess to Nazi accusations!” Musk wrote Thursday, referring to German Nazi Party leader Adolf Hitler’s deputy, Rudolf Hess.

 

ok. look. i know i go high and to the right on occassion....

but wtaf is the country putting up with this shit?

seriously. 

He makes racist dad jokes with the energy only a grown man with a ten year old brain could.

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Quote

Wall Street Banks Prepare to Sell Billions of Dollars of X Loans
Banks are hoping to sell the X debt at around 90 to 95 cents on the dollar

Banks are getting ready to sell billions of dollars in debt borrowed by Elon Musk’s X, bringing Wall Street a step closer to exiting the nerve-racking deal that financed the social-media company’s buyout.

Morgan Stanley bankers have reached out to investors ahead of a planned sale next week of up to $3 billion of debt the bank and others such as Bank of America and Barclays lent to complete Musk’s 2022 buyout of the company then known as Twitter, people familiar with the matter said. 

The banks hope to sell senior debt at 90-95 cents on the dollar, while retaining more-junior holdings, the people said. The banks just sold approximately $1 billion of debt in a private transaction to several investors, some of the people said.

The debt has been an albatross on the banks since they backed Musk’s $44 billion deal with around $13 billion in financing. The price Musk paid for Twitter was high, even at the time of his purchase, and the company’s rocky performance had knocked down the value. The deal is considered one of the worst that banks agreed to finance since the 2008 financial crisis.

To sell the debt, bankers will have to convince investors that the company’s financials have stabilized. Musk’s recent rise in power and alliance with President Trump have seemed to help change the narrative around X’s fortunes.

Investors have been reaching out to the banks and have indicated interest in buying the company’s debt because they believe that the company’s financials are on an upward trajectory, one of the people familiar said. 

In a January email to staff, Musk pointed to the company’s growing influence and power, but said the finances remain problematic.

“Our user growth is stagnant, revenue is unimpressive, and we’re barely breaking even,” he said in the email, which was reviewed by The Wall Street Journal.

Hours after the Journal’s article was published online, Musk posted on X saying that he didn’t send any such email.

The banks never disclosed how they value the loans on their books. Some of X’s equity investors had written down their stakes in the company by as much as 75%.

Banks don’t finance acquisitions intending to hold the buyout debt for long; usually, they will arrange a sale to outside debt investors within months of their commitment to finance the deal. But in volatile periods, when fewer investors are lining up as buyers, banks will opt to hold on to the loans for longer stretches to avoid selling it at a discount, locking in losses.

With the X debt, the banks have waited—and waited—for a moment when both the markets and the company’s financial health would open the window to sell without huge losses.

Meantime, X’s lenders, which also include Mitsubishi UFJ Financial Group, BNP Paribas, Mizuho and Société Générale, have been collecting hefty interest payments. Loans to companies like X typically pay out several percentage points more in interest than the benchmark rate for investment-grade credit. 

After Musk bought the social-media company, major advertisers fled and the company’s revenue plunged. However, the company’s financials have been steadily improving as some brands have started spending again on the platform, people familiar with the company said.

Musk in his staff email tipped his hat to the current rising fortunes of the company. 

“Over the last few months, we’ve witnessed the power of X in shaping national conversations and outcomes,” Musk wrote. “We are also seeing other platforms begin to adopt our commitment to free speech and unbiased truth,” he added, in a seeming reference to Meta Platforms’ recent decision to roll back fact-checking and adopt a user-driven Community Notes system similar to the one on X.

https://www.wsj.com/finance/banking/wall-street-banks-prepare-to-sell-billions-of-dollars-of-x-loans-c609beb1

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3 hours ago, katt_goddess said:

Honestly, maybe those banks should just confiscate SpaceX and Tesla. 

They would have foreclosed and taken everything from anyone else and for far less of a debt. 

No, I think they’ll just be happy to sell the debt to particular aggressive sub prime lenders who will,  in turn, squeeze the proverbial turnip, repackage the debt, and sell it again.

The thing is, X debt is for all intents and purposes Tesla debt.  Most everyone in the financial sector knows the Tesla debt is dangerously close to toxicity -  they’re on the decline for marketshare, X is siphoning of capital that would delay the effects of that decline, and Space X isn’t ever going to have enough profit to bail Tesla out.  Repackaging the  X debt is also a way to diversify the Tesla debt.

Under no circumstances does any bank want to be saddled with Tesla and SpaceX.

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1 hour ago, scoobdog said:

No, I think they’ll just be happy to sell the debt to particular aggressive sub prime lenders who will,  in turn, squeeze the proverbial turnip, repackage the debt, and sell it again.

The thing is, X debt is for all intents and purposes Tesla debt.  Most everyone in the financial sector knows the Tesla debt is dangerously close to toxicity -  they’re on the decline for marketshare, X is siphoning of capital that would delay the effects of that decline, and Space X isn’t ever going to have enough profit to bail Tesla out.  Repackaging the  X debt is also a way to diversify the Tesla debt.

Under no circumstances does any bank want to be saddled with Tesla and SpaceX.

Hey now. Hauling those Paul Bunyan doorstops to get melted down for scrap metal has to be worth something. 

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On 1/23/2025 at 12:05 AM, naraku360 said:

img_1_1737612276378.jpg

Elon replying "Thanks" to this is so fucking funny to me.

200.gif?cid=6c09b952085tv4h06rrb3lelbx56

Nobody gives a fuck if you bought a boost in a video game, but don't act like you did all the hard work and you're the best there ever was. Then he fucking fumbles around on stream like it's his first day on a PC, much less playing a game he's supposed to be one of the best in the world at. I'm sure this is in no way a microcosm of how he handles his businesses. 

Who fucking cares about the Diablo shit lmao Oh wow he was the first in one country, on one class, in one season and he also beat the creator of another game! Well I'm sure he's the best POE2 player ever then! lol

 

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6 hours ago, GunStarHero said:

Elon replying "Thanks" to this is so fucking funny to me.

200.gif?cid=6c09b952085tv4h06rrb3lelbx56

Nobody gives a fuck if you bought a boost in a video game, but don't act like you did all the hard work and you're the best there ever was. Then he fucking fumbles around on stream like it's his first day on a PC, much less playing a game he's supposed to be one of the best in the world at. I'm sure this is in no way a microcosm of how he handles his businesses. 

Who fucking cares about the Diablo shit lmao Oh wow he was the first in one country, on one class, in one season and he also beat the creator of another game! Well I'm sure he's the best POE2 player ever then! lol

 

You just know he had someone Google the game terms for him so he could tell her what to say.

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Musk tells far-right Germany party "past guilt" gets too much focus

The latest: Musk spoke virtually to cheering members of AfD while denouncing multiculturism and defending Germany's past.

  • "There is too much focus on past guilt, and we need to move beyond that," Musk said.
  • "Children should not be guilty of the sins of their parents, let alone their great-grandparents."
  • "It's good to be proud of German culture, German values, and not to lose that in some sort of multiculturalism that dilutes everything."

Reality check: Neo-Nazi and skinhead leaders often tell followers at rallies not to be shamed of their grandparents or parents who were members of the Nazi Party before and during World War II. They've also criticized growing multiculturalism in Germany.

He's not even trying to pretend anymore. Just a week after the whole Nazi salute thing, too.

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2 hours ago, Dark_Cloud_Overhead said:

Musk tells far-right Germany party "past guilt" gets too much focus

The latest: Musk spoke virtually to cheering members of AfD while denouncing multiculturism and defending Germany's past.

  • "There is too much focus on past guilt, and we need to move beyond that," Musk said.
  • "Children should not be guilty of the sins of their parents, let alone their great-grandparents."
  • "It's good to be proud of German culture, German values, and not to lose that in some sort of multiculturalism that dilutes everything."

Reality check: Neo-Nazi and skinhead leaders often tell followers at rallies not to be shamed of their grandparents or parents who were members of the Nazi Party before and during World War II. They've also criticized growing multiculturalism in Germany.

He's not even trying to pretend anymore. Just a week after the whole Nazi salute thing, too.

I like when he called it the Roman salute, as if that's a different thing.

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