Time to dump Twitter? ....or Vanguard?

Personally if I were EM, I'd wait a bit and dump the shares, but he offered to buy the company with change from his sofa cushions and I fix phones for a living........


Fun times.

 

I listened to an economics 'expert' yesterday try to 'explain' why he thinks that Elon's offer is more about the stock price than the land grab.

This affirms my belief that 'economists' (like weather guessers) have one of the few jobs where you can be consistently wrong and still get paid.
Also....if one is going to pay attention to economists....then perhaps listen to the ones that don't have to work.

I don't think most people understand where Musk's head is at with this whole thing:
MONEY is just NOT his 'North Star...'.

“Having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization,” he said Thursday. “I don’t care about the economics at all.”

We're talking about a guy who throws more than a billion bucks at a rocket company.....HIS rocket company's project to make a fully reusable super heavy-lift launch vehicle NOT for profit, but rather because he FULLY believes that humans need to be a multi-planet species.

I'm thinking that Musk's offer is both genuine AND kinda cool.
The Twitters are a public owned company.
That means that the BOD calls the shots....BUT they also have a LEGAL fiduciary responsibility to their shareholders.

So....
One can make the argument that the prospective new owner would not make wise, long-term decisions for the good of the company, but the (current) company ossifers will have to MAKE that argument, AND shrug off an offer that's probably 10-20% MORE than the company is worth.

Not really sure I care who wins....but it will probably be fun to watch, because either way it turns out the most secure job in the world over the next year or two is going to be a lawyer representing the Twitters......