# Elon Musk's Twitter Acquisition: The Rollercoaster Continues
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Chapter 1: The Ongoing Saga of Elon and Twitter
Hello there! With December 1st just around the corner, it's the perfect time to start enjoying some great tunes so that your Spotify Wrapped isn’t just a bunch of Flo Rida tracks.
Now, let’s dive into the juicy details.
This week, we’re serving up:
- A thorough exploration of the Elon Twitter drama
- Quick bites: 7 headline highlights
- Sweet finds: the best discoveries of the week
- A sprinkle of humor with some memes
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FRESHLY BAKED: ELON'S BUYING TWITTER (AGAIN)
It appears the saga surrounding Elon and Twitter may finally be reaching its conclusion. But where does that leave us?
It feels as though we've navigated through a saga that spans multiple lifetimes, only to find ourselves right back where we began: Elon is set to purchase Twitter at $54.20 per share.
It’s reminiscent of picking an ice cream flavor—after sampling ten, you often circle back to the classic mint chip!
This week, Elon sent a letter to Twitter confirming his intention to finalize the original agreement. While it awaits approval, we are closer than we've been since April.
So, what’s next? Let’s break down the winners and losers.
Winners:
- Twitter shareholders, who will be rescued from falling stock prices
- The crypto community: leaked messages between Elon and Jack Dorsey reveal Elon’s enthusiasm for decentralized finance (de-fi) and potential crypto features for Twitter, such as making the algorithm open source.
Losers:
- Essentially everyone else:
- Elon, who overpaid and has now taken on even more work
- Twitter employees, who must now adapt to Elon’s unpredictable management style
- Tesla shareholders, whose stocks have taken a hit since Musk isn’t repurchasing any Tesla shares
- Financial institutions like Morgan Stanley, Bank of America, and Barclays, who pledged to lend Musk funds before rising inflation and interest rates became a factor
After all the commotion, one has to wonder what Elon has in mind for Twitter. On Tuesday, he expressed his ambitions to create a super-app akin to WeChat.
An interesting tidbit: Elon acquired the domain x.com for his payment startup back in 1999, which later became PayPal. He reacquired the domain in 2017, keeping it in reserve until now. Let’s hope it still has some of that PayPal magic!
Our perspective on this situation:
If the deal goes through, we’re in for a major shift. Super-apps have thrived in Asia but have yet to gain traction in the West. If anyone can change that, it’s Elon.
For everyday Twitter users, it looks like it’s time to prepare for a thrilling ride.
Chapter 2: COOKIE CRUMBS - QUICK BITES
Prepare your wallets! Walmart and Amazon are preparing for fierce competition with simultaneous sales events next week. Amazon is launching a second Prime event on October 11th and 12th, prompting Walmart to announce its own sale from October 10th-13th. It’s a race to the bottom—let’s see who can go lower!
MBA applications have dropped by 15% at Harvard, 13% at Wharton, and 10% at other elite institutions. If you’re considering applying and can manage the hefty $200K price tag, now might be a less competitive time.
Goodwill is unveiling a new website to showcase its secondhand inventory online. Finally, just in time for your quirky DIY Halloween costume ideas!
Kim Kardashian has been slapped with a $1.26M SEC fine for promoting an altcoin last year, while other celebrities who did similar endorsements faced no penalties. The difference? If you’re endorsing a crypto company, you just need to follow FTC guidelines and tag your post as #ad. However, promoting a specific security like Kim did requires SEC rules to disclose payment, which she neglected. Fortunately, with her net worth at $1.8B, this fine is merely a drop in the bucket.
Nestlé is taking action to safeguard coffee supplies against climate change, investing $1 billion to train farmers in sustainable practices and offering cash incentives. Now we can enjoy our iced pumpkin spice lattes knowing our favorite beverage is being protected!
U.S. job openings have decreased by over 1.1 million in August, marking the second-largest monthly drop in the past 20 years (April 2020 holds the record).
Ray Dalio is stepping down from his role as chief investment officer at Bridgewater, transferring all his voting rights to the board.
Chapter 3: CHOCOLATE CHIPS - WEEKLY DISCOVERIES
- A mathematical approach to winning the timeless game of rock, paper, scissors.
- A detailed guide to building wealth step by step.
- A public service announcement for readers: the 2022 National Book Award finalists have just been revealed.
- A Twitter account that tracks the latest stock portfolio and trading activities of Warren Buffet, Nancy Pelosi, and Ray Dalio.
Chapter 4: SNICKERDOODLES - THURSDAY MEMES
That’s all for today, folks! Catch you next week!
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Description: A look into Elon Musk's decision to acquire Twitter and the implications surrounding this major tech move.
Description: A comprehensive documentary exploring Elon Musk's journey and his motivations behind purchasing Twitter.