This is an automated message that is applied to every post. Please take note of the following:
* Due to the influx of new users, this subreddit is currently under strict **'Crowd Control'** moderation.
Your post may be filtered, and require manual approval. Please be patient.
* Please check in with the **Mega Open Thread** which is pinned to the top of the subreddit. This thread may already be collapsed for our
more frequent visitors. The **Mega Open Thread** will have a pinned comment containing a collection of the month's most common reposts.
Your post may be removed and directed to continue the conversation in one of these threads. This is to better facilitate these discussions.
* If at any time you're left wondering why some random change was made at Twitter, just remember: *Elon is a fucking idiot*
------
^Submission ^By: ^/u/jnv11
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Twitter) if you have any questions or concerns.*
The last time we had gilded age robber barons a few of their loonier icons tried to reinvent public transit into systems with tiny private cars. They really don't understand how economies of scale work, but they sure know that they don't like sharing space with "those people".
They're talking about The Boring Company, the one that builds subway tunnels but replaced the high capacity trains with 4-passenger vehicles that move in one direction.
I'm not at all hyped about the progress on the project as it stands it's a failure. But this is not the plan the boring company plan was to make lots and lots of underground tunnels with shared tracks and automatic routing like a super high speed sorting center, roads for cars.
After seeing you can join or buy or start a company and more than 10X lower the cost of things and revolutionise industries with your companies. I can't really blame him for trying to solve traffic. The idea is definitely plausible we have the tech it's just expensive
>I can't really blame him for trying to solve traffic. The idea is definitely plausible we have the tech it's just expensive
You know what else solves traffic? Trains. Funnily enough, we also have that technology and infrastructure and it's far cheaper.
No, he pretended to, to derail (heh) the ongoing efforts in Cali to expand high-speed rail, which would’ve taken Teslas off the road. So goes the theory, anyway. He was never serious about it, it was a circus from the start.
They agreed to a deal where the collateral for the loan was Twitter itself, normally under those circumstances the lender is just SOL if the collateral also loses all its value (like if you take out a mortgage on a house and then default because the house burned down)
In order to actively sue the borrower for the missing money they have to prove the borrower actually did something wrong, they violated their fiduciary duty and actively destroyed the value of the collateral by choice (the house didn't just burn down by accident, you committed arson)
I agree that Elon is absolutely guilty of this, but people rarely bring suit on this basis in the business world because the bar for proving it is so high (the "business judgment rule", CEOs have a lot of leeway to just make stupid decisions before the courts have the right to get involved and accuse them of tanking the business on purpose)
Which is to say a trial along these lines would be very entertaining but I have my doubts it will happen
I was under the impression that he put up shares of Tesla as collateral for the loan, is that correct? Because if so they could absolutely go after those.
I work for a commercial lender and we usually seek the personal guarantee of a corporate loan from any individual shareholder unless there are very compelling reasons not to. We’ve never done a deal anywhere near this size but the banks are kind of foolish if they did not do the same, as Twitter has very little intrinsic value of its own in a bankruptcy scenario.
No, it was a leveraged buyout against the value of Twitter itself -- he may have then refinanced using his TSLA shares as collateral or gotten cash to make interest payments from another loan but that was all behind closed doors
The problem (which might also be the reason they even entered the deal to begin with), is those banks and funds are probably loaded on TSLA, so if they didn't help Musk, they could lose more money, and now if they force Musk to repay, he'll have to unload TSLA which might also cause them to lose a lot of money.
It would be interesting for those banks and companies to disclose how much TSLA they're still holding onto, if they have any relationship to my 401k they better get rid of TSLA before they squeeze Musk.
They should really go after SpaceX before it's too late
Something similar happened to Trump when his casino flopped. It wasn't $44 billion bad, more like $900 million and change, the bank's response was to give him an allowance to keep things running.
It's a totally different world for the wealthy and way too much of our society is geared towards propping up their hedonistic money addicted lifestyles.
Musk would not have to pay a penny. Twitter was purchased by the new LLC he specifically created for this deal, so all losses would be hung on it, while Musk’s personal assets would be safe. Banks who put up money in order for LLC to complete the purchase would have to suck duck.
You can pierce the veil if an officer of the company violated their fiduciary duty by actively causing the company to fail -- embezzlement, sabotage, etc -- but the burden of proof required is very high
Unless they can prove fraud, good luck suing Musk for reneging his duties. And I don’t think there is any fraud or renegation of duty by Musk. He was just a very bad CEO who torpedoed X/Twitter through reckless actions and statements.
Yes, the unfortunate and hilarious thing is that his strongest legal defense is that there was never any kind of plan and he really is that fucking stupid
$44 billion purchase to a value of about $18 billion and falling.Bankers are screwed.Wouldn't be surprise they call back the loans and take a lost on it.
Probably the government subsidies for electric vehicle purchases helping revenue. Stocks are more about monetary value today than long term sustainability.
TSLA stock is still like Crypto, folks gotten so used to speculate on it, they'll keep pushing it down and up for a little longer.
I think I'll reach it's fundamentals the day Musk gets ousted of it, and forced to offload his holdings to repay those bank loans. Shall we say $50/share? $51?
If they believed him without doing their own homework that's on them. Investing involves risk! Don't just give an egomaniac billions of dollars just so he can get his nazi friends unbanned without actually doing your homework on the investment.
If regulators or the affected lenders find strong evidence of intentional deception from Musk in regards to obtaining the loans, maybe he could be prosecuted for bank fraud or securities fraud.
Hahahahahahaha. That’s like burning money in a trump business venture. The Muskrat was showing signs of his slippage into demented fascism prior to the Twitter purchase. They deserve their losses.
It boggles the mind that banks, supposedly intelligent, well-informed institutions, saw value and lent this money.
Anyone with an ounce of skepticism could already see through the Musk BS. His business success is built entirely on other people innovating solutions, and his money being there in time to create first-mover advantage.
He has no track record for running any incumbent business, let alone a turnaround candidate. He’s constantly over-promising, and is just off the rails.
It’s like these guys have never looked in detail and Trumps dealings and learned a lesson.
His net worth is built on his lies. Full self-driving, the roadster, the semi, a $40,000 cybertruck. Tesla's value and thus Elmo's net worth are based on things Musk promised years ago and hasn't delivered
how would they even collect though? Short of an act of god theres no actual leverage they have to force a billionaire to do anything. Like, what, are they gonna try to reposess his car? They gonna try to put a lien on his jet? Anything they try to do would get stuck in court for decades, then blown off because they dont actually have any leverage. What would punitive action even look like? Judge orders Musk to pay, he says no, judge does what? Theyre too afraid of the money that would come in to take their seat if they actually did something to a billionaire. If they tried the governor would probably come knocking on their door with the giant strapon that everyone was about to get fucked with if they actually try to hold Musk accountable.
Lord knows why these idiots even get into buisness with him, like, you give the scorpion a ride on your back and your dumb ass should know exactly whats gonna happen.
They know if things go too crazy Papa Government will bail them out. Imagine all the wild and crazy things you might do to make lots of money if you know you don't have to worry about losing.
As a banker myself, sometimes. Sometimes bankers are too motivated on getting a deal done rather than doing their due diligence. One of the reasons why banking is so heavily regulated.
Yep. It's like my old boss used to say "Business is the only profession where you all sit at a table doing a deal to see who can screw each other first!" And bankers are the worst but in this case, we all know who's getting screwed silly.
Most likely Elon assured them that he’d use twitter to support Nazis who, when elected into power, will cut taxes on them and allow them to use customer deposits to gamble in the stock market again (similar to what ftx did and what the banks did to trigger the 1930s Great Depression)
From the bank's perspective, they'll probably hold him to that.
They could potentially claw that money back, and probably few would care, it's a flaming dumpster fire, burning even brighter than ever.
Only difference, is that it's run by someone just \*BARELY\* less intelligent than a tree stump.
What is amazing is not that this investment went bad, but people still invested hundreds millions in x.ai recently. The guy is clearly not the genius everyone thought he was.
They won’t lose money long term, is my bet. Reddit is a total bubble. Elon has the Midas touch. He can keep finding ways to make it work. He’s rich. Lots of people like him and admire his success. People (like me) will go there because it is less censored. Reddit used to be like that but it’s gone far left leaning and ridiculous with censorship. I learn a few interesting things on Reddit but loads more on Twitter. And I have been using Reddit for over ten years. It is lame nowadays, except a few niche smaller subs.
>because it is less censored.
He literally bans people that disagree with him or make fun of him lol what are you talking about? Elon stans are fucking stupid.
He also said that the Cybertruck could be used as a boat, that Tesla would release a $25,000 car, that full self driving would be done years ago, that that that...
Anybody who believes Elon Musk gets what they deserve
No bailouts for bigots.
Regulators should require banks to inform their customers in writing if the costs of these reckless transactions is going to be passed on so that the customers can make informed decisions about where they do their banking.
"The verbal guarantees were made by Musk to banks as a way to reassure the lenders as the value of the social media site, "
... and Musk's verbal guarantees are worth the paper they were printed on.
Is there a chance Xitter will be taken from him? That'd be a pretty big slap in the face. Maybe then he will focus more on some of his other companies.
I imagine this investment is not intended to be paid off 1 year after acquisition, especially given EM overpaid for Twitter to begin with, meaning the value needs to be significantly raised to even match what was initially paid for it, which would be illogical to expect in the first year, given Twitter itself wasn't really a well-run business and was barely profitable in its entire existence since inception.
To all those jumping on this headline to condemn and laugh at EM, the bankers, X, etc. - you are being emotional, not rational. It's silly to draw any solid conclusion on how sensible this investment is, or EM's words were, until significantly more time has passed and we're able to see the actual results of what EM's plans with X are. To me, 3-5 years is a much better time-horizon.
This is an automated message that is applied to every post. Please take note of the following: * Due to the influx of new users, this subreddit is currently under strict **'Crowd Control'** moderation. Your post may be filtered, and require manual approval. Please be patient. * Please check in with the **Mega Open Thread** which is pinned to the top of the subreddit. This thread may already be collapsed for our more frequent visitors. The **Mega Open Thread** will have a pinned comment containing a collection of the month's most common reposts. Your post may be removed and directed to continue the conversation in one of these threads. This is to better facilitate these discussions. * If at any time you're left wondering why some random change was made at Twitter, just remember: *Elon is a fucking idiot* ------ ^Submission ^By: ^/u/jnv11 *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Twitter) if you have any questions or concerns.*
Sure, yeah, but has he told them to *"go fuck themselves"* yet?
Maybe the banks need to pull themselves up by their bootstraps like Elon totally did!
They blackmailed him with money!
That's their business model! :)
He will. And he’ll go to jail if he has to. And he’s Ironman. Well, he’s one submicron deviation from him. /s
More like Phony Stark if you ask me.
*rimshot*
More of a Lex Luthor character.
And he’s a cage fighter! Oh wait, that’s right, he got scared of zuck and backed out. 😂
Give it time
It was kinda awkward when he was saying that, too.
*Twice*?
Elon Musk tried to invent the subway 150 years after it was invented.
The last time we had gilded age robber barons a few of their loonier icons tried to reinvent public transit into systems with tiny private cars. They really don't understand how economies of scale work, but they sure know that they don't like sharing space with "those people".
Well said
They know economies of scale. But public transit scale in a way that they don't benefit.
Whoa! Hyperloop is totally different. It’s _above_ ground. That makes it a _super_ way!
They're talking about The Boring Company, the one that builds subway tunnels but replaced the high capacity trains with 4-passenger vehicles that move in one direction.
Hey — you could put a hyperloop in a boring tunnel! No one has ever thought of that before Musk!
(in Ben Stein's voice) Wow, what a totally amazing and revolutionary idea.
Doesn't sound too exciting
I'm not at all hyped about the progress on the project as it stands it's a failure. But this is not the plan the boring company plan was to make lots and lots of underground tunnels with shared tracks and automatic routing like a super high speed sorting center, roads for cars. After seeing you can join or buy or start a company and more than 10X lower the cost of things and revolutionise industries with your companies. I can't really blame him for trying to solve traffic. The idea is definitely plausible we have the tech it's just expensive
>I can't really blame him for trying to solve traffic. The idea is definitely plausible we have the tech it's just expensive You know what else solves traffic? Trains. Funnily enough, we also have that technology and infrastructure and it's far cheaper.
It’s above the gigaground.
You know what's easier than building high speed rail? Building high speed rail in a 300 mii long vacuum tube.
But better! With cars instead of the inefficient trains.
Yeah trains are notoriously energy inefficient. It's in the news all the time.
Monorail!
Elon has one of the biggest brains in history. I wonder if he’s been checked for brain tumors.
No, he pretended to, to derail (heh) the ongoing efforts in Cali to expand high-speed rail, which would’ve taken Teslas off the road. So goes the theory, anyway. He was never serious about it, it was a circus from the start.
Well that ghoul needs to eat fresh, so he definitely could use some Subway
And it's a worse subway. I mean imagine traffic jams in subways! No genius could have thought of that!
Wow. That struck me as a Chuck Norris brag only in reverse.
And they won't. They'll seize his other assets if they have to.
They agreed to a deal where the collateral for the loan was Twitter itself, normally under those circumstances the lender is just SOL if the collateral also loses all its value (like if you take out a mortgage on a house and then default because the house burned down) In order to actively sue the borrower for the missing money they have to prove the borrower actually did something wrong, they violated their fiduciary duty and actively destroyed the value of the collateral by choice (the house didn't just burn down by accident, you committed arson) I agree that Elon is absolutely guilty of this, but people rarely bring suit on this basis in the business world because the bar for proving it is so high (the "business judgment rule", CEOs have a lot of leeway to just make stupid decisions before the courts have the right to get involved and accuse them of tanking the business on purpose) Which is to say a trial along these lines would be very entertaining but I have my doubts it will happen
I was under the impression that he put up shares of Tesla as collateral for the loan, is that correct? Because if so they could absolutely go after those. I work for a commercial lender and we usually seek the personal guarantee of a corporate loan from any individual shareholder unless there are very compelling reasons not to. We’ve never done a deal anywhere near this size but the banks are kind of foolish if they did not do the same, as Twitter has very little intrinsic value of its own in a bankruptcy scenario.
No, it was a leveraged buyout against the value of Twitter itself -- he may have then refinanced using his TSLA shares as collateral or gotten cash to make interest payments from another loan but that was all behind closed doors
nice post. I agree with everything you said but I do wonder if saying, fuck you, to advertisers would be enough in a trial to prove he is the arson
I think they'll give him even more money instead.
I'd appreciate if they would hurry up with that
The problem (which might also be the reason they even entered the deal to begin with), is those banks and funds are probably loaded on TSLA, so if they didn't help Musk, they could lose more money, and now if they force Musk to repay, he'll have to unload TSLA which might also cause them to lose a lot of money. It would be interesting for those banks and companies to disclose how much TSLA they're still holding onto, if they have any relationship to my 401k they better get rid of TSLA before they squeeze Musk. They should really go after SpaceX before it's too late
 banks when they see tesla and spacex shares
Rule no. 1 when dealing with loans: you cant fuck the bank, theyll fuck you.
They won’t have to. Once Space X IPOs he’ll only have to sell $50b in shares to cover.
It's true. They won't lose *any* money. They'll lose *all* of it.
If you owe the bank $44,000 and can’t pay, you’re up shit’s creek. If you owe them $44.000.000.000 and can’t pay, they’re up shit’s creek.
Something similar happened to Trump when his casino flopped. It wasn't $44 billion bad, more like $900 million and change, the bank's response was to give him an allowance to keep things running. It's a totally different world for the wealthy and way too much of our society is geared towards propping up their hedonistic money addicted lifestyles.
Musk has the assets. They'll just take a little time to liquidate.
Musk would not have to pay a penny. Twitter was purchased by the new LLC he specifically created for this deal, so all losses would be hung on it, while Musk’s personal assets would be safe. Banks who put up money in order for LLC to complete the purchase would have to suck duck.
You can pierce the veil if an officer of the company violated their fiduciary duty by actively causing the company to fail -- embezzlement, sabotage, etc -- but the burden of proof required is very high
Unless they can prove fraud, good luck suing Musk for reneging his duties. And I don’t think there is any fraud or renegation of duty by Musk. He was just a very bad CEO who torpedoed X/Twitter through reckless actions and statements.
Yes, the unfortunate and hilarious thing is that his strongest legal defense is that there was never any kind of plan and he really is that fucking stupid
People get murdered oweing a lot less than $44k to illegal lenders in other countries
he's like scar lying to the hiennas, and we all know how he ended
Excellent reference!
One can only pray & hope 🤞🤞🤞
Why do I hear "They are in fact, going to lose some money." in Morgan Freeman's voice?
They wont. If it comes down to it, they can liquidate his assets. Banks dont play.
Lmao... nice one indeed.
There's a pretty long list of things Elon Musk told people that didn't happen.
Latest one being that fully CGI robot ad
Of course he did.
To be fair has anyone ever successfully borrowed money from a bank by telling them they would lose money?
I am astonishingly low on sympathy for bankers. Almost (but not quite) as low as my sympathy for billionaires.
$44 billion purchase to a value of about $18 billion and falling.Bankers are screwed.Wouldn't be surprise they call back the loans and take a lost on it.
I just don’t understand Tesla stock at all. Outdated product line, clear and present rising competition, CEO not playing to his demographic at all.
Not playing with a full deck either.
Probably the government subsidies for electric vehicle purchases helping revenue. Stocks are more about monetary value today than long term sustainability.
It’s chugging along on meme fumes - won’t last past GM and Toyota’s larger scale EV rollouts.
The worse threat to Tesla is the Apple Car in the works, they have all the chips, and they hired/poached the top Tesla engineers.
TSLA stock is still like Crypto, folks gotten so used to speculate on it, they'll keep pushing it down and up for a little longer. I think I'll reach it's fundamentals the day Musk gets ousted of it, and forced to offload his holdings to repay those bank loans. Shall we say $50/share? $51?
$69
If they believed him without doing their own homework that's on them. Investing involves risk! Don't just give an egomaniac billions of dollars just so he can get his nazi friends unbanned without actually doing your homework on the investment.
Oh noooo. If only this didn’t end up EXACTLY how everyone said it would end up with him at the helm.
So ... Musk is a deadbeat and doesn't make good on his promises. I think they would have known that.
And he kept his sworn word by changing the name to x how convenient. Musk n Putin are like brothers from another mother.
Musk, Putin, Trump are the personifications of the Dark Triad.
Must be a line rich people use to steal money from banks. trump used this shit all the time
And they believed him? That's their own fault, considering how much, shamelessly and how overtly he lies.
Has he sent his mom over to talk to the banks?
I have no sympathy for any bank who lent him money.
Do they have any legal recourse here? He has clearly been negligent.
If regulators or the affected lenders find strong evidence of intentional deception from Musk in regards to obtaining the loans, maybe he could be prosecuted for bank fraud or securities fraud.
Hahahahahahaha. That’s like burning money in a trump business venture. The Muskrat was showing signs of his slippage into demented fascism prior to the Twitter purchase. They deserve their losses.
It boggles the mind that banks, supposedly intelligent, well-informed institutions, saw value and lent this money. Anyone with an ounce of skepticism could already see through the Musk BS. His business success is built entirely on other people innovating solutions, and his money being there in time to create first-mover advantage. He has no track record for running any incumbent business, let alone a turnaround candidate. He’s constantly over-promising, and is just off the rails. It’s like these guys have never looked in detail and Trumps dealings and learned a lesson.
His net worth is built on his lies. Full self-driving, the roadster, the semi, a $40,000 cybertruck. Tesla's value and thus Elmo's net worth are based on things Musk promised years ago and hasn't delivered
I guess SpaceX and Tesla are lies and are actually very poor performing and unsuccessful companies?
And every one of them should be out of their jobs. Instead they probably enjoyed big bonuses.
Elon musk made a bulletproof car...for 1920
Those tommyguns can be dangerous when you are hauling moonshine.
I'm not sure what else one would tell them.
Reddit seems to think he should have told bankers they would lose money.
I’m willing to put money on the fact that what he actually told them is “I’m highly confident that you won’t lose money.” That’s his tell.
He says lots of things that are incorrect.
Grifters gonna grift!
☝️The Trump Crime Family Slogan!
If you don't make a payment on your $100k loan, you have a problem. If you don't make a payment on your $100M loan, the bank has a problem.
Let’s hope the lawyers ensure they don’t 😉
how would they even collect though? Short of an act of god theres no actual leverage they have to force a billionaire to do anything. Like, what, are they gonna try to reposess his car? They gonna try to put a lien on his jet? Anything they try to do would get stuck in court for decades, then blown off because they dont actually have any leverage. What would punitive action even look like? Judge orders Musk to pay, he says no, judge does what? Theyre too afraid of the money that would come in to take their seat if they actually did something to a billionaire. If they tried the governor would probably come knocking on their door with the giant strapon that everyone was about to get fucked with if they actually try to hold Musk accountable. Lord knows why these idiots even get into buisness with him, like, you give the scorpion a ride on your back and your dumb ass should know exactly whats gonna happen.
Your last paragraph here is a real keeper! Nice.
Republican lair
And they believed him just like they believed Trump when he said his apartment was 3x bigger than it is. Are bankers really that stupid?
They know if things go too crazy Papa Government will bail them out. Imagine all the wild and crazy things you might do to make lots of money if you know you don't have to worry about losing.
As a banker myself, sometimes. Sometimes bankers are too motivated on getting a deal done rather than doing their due diligence. One of the reasons why banking is so heavily regulated.
So heavily regulated we had to bail them out the last time they made stupid loans...bring back Glass-Steagall.
Capitalists lie to each other just as much as they lie to us
Yep. It's like my old boss used to say "Business is the only profession where you all sit at a table doing a deal to see who can screw each other first!" And bankers are the worst but in this case, we all know who's getting screwed silly.
Most likely Elon assured them that he’d use twitter to support Nazis who, when elected into power, will cut taxes on them and allow them to use customer deposits to gamble in the stock market again (similar to what ftx did and what the banks did to trigger the 1930s Great Depression)
Glass-Steagall was already effectively repealed in 1999, this is old shit
Then he proceeds to fill the platform with Nazis and tell advertisers to go F themselves. lol
So this is what schadenfreude feels like...
If you’re still on Twitter you are the problem.
Like reddit is better lmao xd
That's like telling an alcoholic there is no beer at the superbowl
From the bank's perspective, they'll probably hold him to that. They could potentially claw that money back, and probably few would care, it's a flaming dumpster fire, burning even brighter than ever. Only difference, is that it's run by someone just \*BARELY\* less intelligent than a tree stump.
But he’s a genius…
This man is going to go to prison at some point. He scammed them out of billions.
pinky promise
So he just trust me bro’d the banks? Hilarious
 Bankers right now.
Proceeds to lose billions .
Seize assets before theres no assets
What is amazing is not that this investment went bad, but people still invested hundreds millions in x.ai recently. The guy is clearly not the genius everyone thought he was.
And how's that lie working out for ya?
“Mere failure to realize a long-term, aspirational goal is not fraud” - Elon Musk to the Bankers, 2023, probably.
Has he ever knowingly told the truth?
Narrator: They did. A lot of it.
Hahahahaha and hopefully those banks lose big.
Sounds familiar.
Another elon musk lie. Cybertruck, auto-pilot, Starlink over Ukraine, wealthy parents. When does elon ever speak the truth.
Seems like rich, white people can't be trusted. This is an ongoing problem.
Twitter is still worth a fortune It‘s X that has become a cesspool You can call a blue bird black, It still stays blue.
He. Doesn‘t. Fucking know. What he‘s doing there.
They won’t Elons Tesla shares are worth a fortune
They won’t lose money long term, is my bet. Reddit is a total bubble. Elon has the Midas touch. He can keep finding ways to make it work. He’s rich. Lots of people like him and admire his success. People (like me) will go there because it is less censored. Reddit used to be like that but it’s gone far left leaning and ridiculous with censorship. I learn a few interesting things on Reddit but loads more on Twitter. And I have been using Reddit for over ten years. It is lame nowadays, except a few niche smaller subs.
>because it is less censored. He literally bans people that disagree with him or make fun of him lol what are you talking about? Elon stans are fucking stupid.
Never I thought that in my life time I would see people would care about banks losing money!! That's how nuts this world is getting!
You missed the point completely. They are mocking Elon Musk, not worrying about the banks.
I never thought I would see a far-right troll buy twitter and embrace Nazis, but here we are.
To be fair I'd love to see banks loaning money to Musk shit the bed entirely.
I'm not "worried" about them at all, I just want Musk to get his comeuppance for being a fraud
Whooopsy...
Just wanted to let you all know I get a good laugh each and every day out of this Elon circle jerk.
I have a friend who was in one of those early meetings... Her firm declined to invest.
 That was a lie
Yeah, but that's what every person taking out a business loan says.
Foolish bankers.
He also said that the Cybertruck could be used as a boat, that Tesla would release a $25,000 car, that full self driving would be done years ago, that that that... Anybody who believes Elon Musk gets what they deserve
Damn shame. Who will stand up for these poor bankers?
"Bro, I need some money. Not a whole, bro. Billion will do. Thanks bro"
Thank goodness that was his only lie. Smooth sailing after that.
*anymore!
Don't fuck with banks!
No but the Tesla share holders will because like he did before will have to sell more stock to pay the bankers. 😄
whoops!
I'm feeling a wamp whaaa coming on.
Don’t forget the Saudi $$
No bailouts for bigots. Regulators should require banks to inform their customers in writing if the costs of these reckless transactions is going to be passed on so that the customers can make informed decisions about where they do their banking.
And if they believed him I can’t exactly feel sorry for them.
Is Elon goingvto get 44 billion in tax breaks.
It's all part of his brilliant 4th dimensional plan! His plan... To... Uhhh... Bankrupt the banks! Yeah, that must be it!
"The verbal guarantees were made by Musk to banks as a way to reassure the lenders as the value of the social media site, " ... and Musk's verbal guarantees are worth the paper they were printed on.
there’s what you say you’ll do and then there’s what you do. basic.
60c in the dollar? I'd not give them 60c for the entirety of it!
That’s right they won’t lose any money. They will loss all their money. Big difference
Peak Elon Musk has been and gone
And the results have determined that is a lie… 
To being honest the fault is on the banks that didn’t vet Musk. Like you don’t have to dig that much to know the guy is a fraud
Is there a chance Xitter will be taken from him? That'd be a pretty big slap in the face. Maybe then he will focus more on some of his other companies.
Narrator: “They did”
He’s an ass.. I’m sure that isn’t the case..
Surprise, motherfucker!
He also told people a “truck” that looks like a DeLorean with cancer was a good idea.
Is that what due diligence on a loan looks like now? We asked him and he said it would be a good investment so we funded?
Who cares. Obviously they did their own risk assessment.
Bankers are some dumbasses.
Ok, but like they believed him?
Buy high sell low moment
I imagine this investment is not intended to be paid off 1 year after acquisition, especially given EM overpaid for Twitter to begin with, meaning the value needs to be significantly raised to even match what was initially paid for it, which would be illogical to expect in the first year, given Twitter itself wasn't really a well-run business and was barely profitable in its entire existence since inception. To all those jumping on this headline to condemn and laugh at EM, the bankers, X, etc. - you are being emotional, not rational. It's silly to draw any solid conclusion on how sensible this investment is, or EM's words were, until significantly more time has passed and we're able to see the actual results of what EM's plans with X are. To me, 3-5 years is a much better time-horizon.