Just before directing his lawyers to make the unimpeachable legal argument that Chief Justice Marshall Mathers’ ruling in the groundbreaking song “Without Me” meant that he could do whatever he wants, agreements with regulators notwithstanding, Elon Musk went onto his favorite social media platform to bandy about another yet another new venture: A social media platform of his own! After all, it’s working out great for the former president of the United States!
Then, perhaps the COVID-induced brain fog cleared. Or maybe he was inspired by a rerun of “30 Rock.” Either way, it occurred to Elon that he doesn’t have to build a Twitter of his own. Since the company was worth roughly one-tenth of his own net worth, he could just buy it.
Elon Musk recently purchased 9.2% of Twitter stock, according to a filing Monday, making him the largest shareholder in the company…. [Wedbush Securities analyst Dan] Ives said it's probably not realistic for Musk or anyone else to try to start building a new, competing platform from scratch. Thus it makes more sense for him to try to change practices at Twitter itself.
Plus, now he can have his team cite the well-established legal principle of “finder’s keepers” in his next salvo against the SEC.
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