00:00
Okay. So so you don't need to lose if in this case you are not successful
00:05
in, you know, the board,
00:07
does not accept your offer. You've said you won't go higher. Is there a plan b?
00:15
There is.
00:23
Alright. We're live breaking edition.
00:25
Sean just texted us and said, we gotta do this Elon thing. It sounds like you've got a lot of opinion, or you have a lot of opinions.
00:33
I got some opinions. I got some opinions for sure.
00:37
First, let's summarize
00:39
what happened. And then tell me how you, I guess, like, how you initially heard about it and how you reacted to it when you when you first heard. So let's start from, like,
00:47
Alright. So the weeks and months and years ago, Elon has always criticized
00:52
Twitter
00:53
saying how he loves it, and I actually think he's one of the top ten most followed accounts in the world. And of the top ten, he's one of the few that is actually actively posting as a normal person would.
01:05
And he's criticized Twitter for doing some, for banning free speech, things like that, for basically being too liberal. He didn't have say that word, but that's kinda what he's getting at. Right. And about
01:16
ten days ago or a week ago, he bought
01:19
nine percent of the company,
01:21
and
01:22
then he announced that he was gonna join the board of directors. And the
01:27
weekend after, he announced that he was joining the board of directors.
01:30
He started posting things like, let's turn Twitter's HQ into a homeless shelter. I actually lived next door to Twitter's
01:38
headquarters in, at ninth and market year, a couple years ago. And it's basically, like, no one's there because the pandemic shut down that area of the city, and it's full of homeless people. And he said, let's shut down Twitter HQ and turn it into a homeless shelter. He tweeted it. Is that because nobody's gonna work anyways
01:55
because the Yeah. Because don't go to work anyways. Police don't go anyways. So he took it. It was two jabs that he took. And then also he said,
02:03
should we create edit button.
02:05
Yes or no. And he tweeted basically three or four things like that. Then on Sunday or sorry,
02:12
last on Sunday night, he was supposed to join the board on Monday. He said, I'm not joining the board. And
02:19
to a couple people or people who are a little bit in the know of this kind of granular stuff, they said, well, the reason he's not joining the board is when you join the board of a company like this, you can't own more than fourteen percent. And so by not joining the board, he can now buy the whole thing. And that happened on Monday. It's Thursday,
02:36
morning. First, they were playing patty cake with each other. He's like, you know, the news comes out, then it's like, the CEO of Twitter. Parag is like, hey.
02:45
So happy have Elon Musk on our board. He's the best.
02:50
Jack Dorothy says so glad to have Elon on our board. Elon says so glad to be on the board. Jack, you know, they're they're all playing patty cake. And then one day later or two days later, something like that, it becomes
03:01
he's actually not joining the board, and he basically goes hostile.
03:05
And
03:06
now at six AM, seven AM this morning, it was a now that he was going to buy Twitter.
03:12
Right away when he bought nine percent of the company, I think the stock jumped ten percent the day he did it. But
03:19
its current valuation was like forty three billion, and I think he offered to buy it at fifty three billion, billion, give or take. I I forget the exact but it was a nice premium, not a huge premium, but a nice premium.
03:31
And here we are now waiting for what's gonna happen next.
03:35
And by the way, I think Jack Dorsey, I do actually think he was somewhat genuine. I think the the CEO of Twitter was not genuine. That guy doesn't even tweet. Like, he's not even a sir. Like, have you ever read his tweets? Like, he just tweets like screenshots of PDFs. He follows me. That's all I know. And so he's good in my books. Parag, you're the man. You have excellent taste in who you follow?
03:54
Well, that's he might be the man, but he's not like a power user of Twitter. Like, he's like, I think I know how to use Twitter better than he You know what I mean?
04:02
Yeah. For sure. You do.
04:04
Yeah. Like I said, he tweeted on January twentieth, then February sixteenth, then March third,
04:10
you know, for that November thirtieth. So, you know, he's guys tweeting bi monthly.
04:15
Yeah. So,
04:16
like, whereas Elon actually
04:19
gets it. Yeah.
04:21
So anyway, that's where we are now. What's your take?
04:23
So I think there's a couple of different things. First, I wanna just say,
04:27
baller move.
04:29
I've baller move. I've been on the record of saying, I think Elon can be kinda cringy with stuff he says in public. I think he's an amazing inventor. I think he's a he's a amazing,
04:40
you know, visionary
04:42
and, you know, a force of nature for sure. But I think he's kinda cringey in the way he kind of, for somebody who's you know, trying to be kind of like an engineers engineer.
04:51
He sure does do a lot of stuff to, like, make himself seem cool and, like, try to be cool. And it just comes across, try hard each of me. But this was not, but not just the move. I'm gonna read you the have you read the letter? Yes. I have it up. Let's letter is
05:05
badass. So Badass. He he created an offer. Dude, that's so funny that we both, like, gurt gravity. I was gonna that's exactly what I was gonna up was the writing? It was the writing's amazing. I'm just gonna read it word for word. So he goes. Yeah.
05:19
So he this is part of his, like, SEC filing.
05:22
He goes, I invested in Twitter as I believe it's potential to be the the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy. However, since making my I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.
05:40
As a result, I'm willing by one hundred percent of Twitter at fifty two forty, fifty four twenty per share in cash, a fifty four percent premium over the day. Began investing thirty eight percent,
05:51
over what I, you know, the day it was announced. My offer is my best and final offer If it is not accepted, I will not re I would need to reconsider my position as a shareholder. Twitter has extraordinary potential period. I will lock it. So that was the start. And then there's one final thing he goes. Best and final. And he just bullet points, a. This is this is the goal. This is the really goal. This is where he to put his bets on the table. He goes, I am not playing the back and forth game. B. I have moved straight to the end.
06:20
I am not playing the back and with game. And you've moved straight to the end.
06:24
It is a high price and your shareholders will love it. That's the best slide. Your shareholders
06:29
we'll love it. Yeah. If the deal does not work, given I have I I do do not have confidence in management,
06:34
Parag, sad, Parag face, nor do I believe drive the necessary change in the public market. I will need to reconsider my position as a shareholder. This is not a which it is he says it's not a threat. It is entirely a it's a it's a threat.
06:47
Biggest biggest threat I've ever seen. It's like saying this is not a threat. It's like saying, like, I'm not trying to be racist, but or, like, it's like, dude, what you're about to say is gonna be racist. Right. Don't take this the wrong way. Yeah. You're gonna be you're about to be really freaking rude. You're about to get offended.
07:03
He says, this is not a threat. It is simply a not a good investment without changes that need to be made. And those changes won't happen without taking the company private. But this is
07:12
the best line of of all these is I have moved straight to the end. That's my new shit, dude. I have moved straight to the end. That is my new
07:21
shit.
07:22
Sean's new shit is I have moved straight to the end. I'm just gonna be using that left and right negotiations.
07:29
But the tomorrow's milk road is gonna start with, I have moved straight to the end. You know, when I talked to my wife tonight and she wasn't a, you know, cuddle and can't no. I have moved straight to the end.
07:41
If I go if I go in line somewhere,
07:44
I'm gonna stand at the end of line. I'm gonna say I have moved straight to the end. That is my new shit. What a line. It's good, man. How about the fact that he's so
07:54
this was basically
07:56
when he says send via text?
07:59
Is that literal does he mean that this is an email that was sent in text format? And then there's voice format? Or is he this was a text message, you think? Yeah. I don't know what that port was. It's like it's like the the file that there's like a screenshot of it. It says it's almost like he's like, hey, Siri, send this to the SEC,
08:16
send this to Jack in my address book. It's like, which Jack do you mean?
08:21
I don't know what that part was. It it sounded like that part was. I think he sent a message either to Jack or Brett Taylor, the the chairman or whatever. It's Brad Taylor, the guy from Salesforce.
08:30
Yeah. Fred Taylor. Yeah. Oh, dude. I think he's the chairman of the board. Oh my gosh.
08:35
And so I think he sent it. I think he sent to I think it was to him and it was saying,
08:39
here's my offer letter. This will be public tomorrow. So I think it, you know, it was giving a heads up to whoever.
08:44
I do not think this is gonna go through.
08:47
And why do you think that?
08:49
I think that
08:52
I okay. So, there's just app called Blind. It's very inside baseball app. Like, typically only,
09:00
the the you basically have to have an email at a large prominent tech company to use it. So I don't even have I mean, maybe HubSpot has the ability to use it. But,
09:09
it's like just
09:10
time at Twitch. It's awesome. So, like, Amazon, Apple, Twitter, Twitter, shit, whining,
09:16
gossiping, but you do it anonymously, and they you have to be a employee at the company to be on there. So you know these are not just Randos. And they'll, like, it's they they basically will con complain about stuff that they should be made fun of. Like, I only make four hundred fifty thousand dollars a year. How is that how am I able to survive in the SF? Or what is everyone making right now? My salary's blank, poster salary below. Whatever.
09:36
And I got some screenshots from the Twitter Blind, and the people who use Blind, I do think are not the representative of the normal employees, but they basically said that,
09:47
like fifty fifty thought it was a good idea and fifty thought it was a bad idea.
09:52
So
09:53
reason I don't think it's gonna go through is I do think that management and a large
09:58
vocal subset of the Twitter employees are gonna throw a fit enough that it would make this hard to go through.
10:06
But it's not the employees who get to decide. I mean, what what do you mean?
10:10
I said the management. I think management could could
10:13
could cause such a I don't know what they could do. This is it's it's a I think this is I don't know the exact mechanics of these takeovers. So, you know, there's people much smarter than me about this stuff. But this is something that basically the the board has to decide, and it's like a share the shareholders. If I'm a Twitter shareholder, this stock hasn't, like stocks have been basically a poor performer for, like, I used to own this, like, ten years ago. And,
10:38
you know, the stock prices, you know, it has not been like this up into the right curve.
10:43
And you're getting a whatever what is a premium versus today. So today's price is it's now forty five. He offered fifty four. So that's what I like a twenty percent premium, don't do public math. But
10:56
Yeah. But You you know, would you take that premium
11:00
And and also what he's I think one thing he said was he would try to retain as many private shareholders as possible. Meaning,
11:06
you wouldn't have to sell to be in favor of the
11:09
of of of this going through. You could, like, you know, keep your shares or whatever. I think that, I just think that there's, like, some, like, I've read enough, like, books that there's all these crazy things, like the poison pill, which frankly I don't even understand a lot of this, but there's all these, like, weird,
11:21
like, you know, art of war type of things that you can do, I think, I don't think it's as easy as well. I'm the top bidder. I think there's all these weird things. But anyway, the thing here's the thing about Twitter. Do you know what, alright. So Twitter's market cap as of today. It's thirty four million. Of course, we're at, like, at a nice pullback right now for tech. So it's probably thirty percent higher a year ago, but whatever.
11:40
Right now, it's,
11:42
thirty four billion. Do you know what Snapchat is?
11:46
Fifty.
11:47
About fifty five. Yeah. And here's the thing about Twitter is believe they have way more users, and it's the center of culture right now. Maybe not the center, but it is a center of culture at the moment. And their ad platform is dog shit. It's the worst ad platform, all the big dogs. So if they could figure this out, they should be worth way more is I don't think Elon gives a shit about ads. I think he's gonna try and figure out a way how to make money other than ads, but Twitter's ad platform is really bad. So I do think that this company, Twitter, is way undervalued and way under monetized, and they they don't ever innovate. Although lately, they've done some cool stuff.
12:24
But it's been like, you know, ten years ten years, I think. Right. Yeah. And and by the way, here's here's a couple of takes on the on the situation. So
12:36
Cuban, Mark Cuban came out. He was like, I think,
12:39
he goes, I think Elon is effing with the SEC. He goes, his filing with the SEC allows him to say he wants to take a company private for fifty four twenty, which is like, you know, before he used to SCC find him, like, crazy because I'm considering taking Tesla private for four twenty funding secured. And so he got to now do it the official way. It would just put a five in front of the four twenty.
13:01
He had bought the shares a couple months ago.
13:04
This is gonna this this news of him buying and now of the potential takeover, that drives shares up. Let's say they don't accept his offer. Well, then he's he already said I'm gonna sell my shares if you don't take my offer. So he's just gonna make a huge profit off of off of these shares. Right? Like, he's gonna make,
13:21
you know, like, I don't know, whatever. Like, he I think he bought the shares for three billion.
13:26
If it if he sells it, you know, for for, you know, like, whatever, twenty, thirty percent gain, he might make it up close to a billion dollars off of just effing with Twitter, and he gets all Remember we were talking about our friend who, our friend, Alex, who, from MorningBrew, who's gonna who's talking about buying public golf courses, and we were like,
13:44
this is the optimal spot. You said the announcement. You got all the praise. You don't have to actually do it. Yeah. Get the picture with the check. Get the picture with the check. And, in posted on IG.
13:54
Don't don't actually give yourself all the headache and the work of actually running and owning that business.
13:59
So Elon is at that perfect spot right now. So that's that's one take on it.
14:04
Other takes, so, you know, some people, you know, like crypto Twitter, basically. So there's this do you follow this account punk six five two nine? No. But I I think I know who he is. I'm actually gonna click file now. What is it? Punk? What? So punk six five two nine. So this guy's one of the, like, best twitter accounts to follow. He's sort of like posts these kinda like thought leader y things about crypto.
14:25
Yeah. I know this guy. He's great. Hey, he's great. He's I think in a very short like, couple months. He's built, you know, he's got three hundred twenty thousand followers now because he's just had like really good takes on things,
14:36
on things like this. And he
14:38
said, what did he say? He goes,
14:42
he said something like, you know,
14:45
He's he's basically like, you know, Twitter should be a protocol. It's a short messaging protocol.
14:50
And he doesn't need to be owned by a single company nor does it he says If you're excited about Elon taking over Twitter or upset about Elon taking over Twitter, well, both of these are the exact same problem. Our global short messaging internet protocol should be completely affected by who's the CEO of some random company in California.
15:08
In that same spirit, let's talk about, you know, what what a future protocol like this could be. And I think that's one of the, like,
15:15
that's not like what's gonna happen here, but I think I think it is like no one company owns email, for example. Right. But but, like, which is a protocol for sending messages that are long form. And but one company does own Twitter protocol. And because of that, you know,
15:30
you can't just choose. Like, if this was a protocol, you could say, I wanna use client that has no algorithm. I wanna use the one that has a really tight algorithm and shows me nothing. No no right wing stuff. You would be able to have way more choice as a consumer and way more companies would be able to innovate and build on top of Twitter if it was a protocol, not a single company. So kind of Is that something? Doesn't matter who's charge? I don't even think that's logistically possible at this point though, or is it?
15:57
Not really for Twitter. It's, like, almost like it's easier for the next thing Yeah. Right. That's what I mean. Jack Jack Dorsey has said he's there's a project called Blue Sky, which is the idea of, like, turning Twitter into a decentralized protocol,
16:09
but, like, who knows, like, how realistic that is and how much of that is just, like, you know, lip service.
16:14
We're working on it and, like, you know, check-in in five years and see how it goes. Talk about this angle here, which is actually maybe the most interesting, which is, a,
16:22
best troll ever.
16:24
So, like, this guy's, like, a chop and it's some of it's not funny. This one is very funny. But b, I actually think and I think Paul Graham said something like this. This I'm not convinced that this would be good for Twitter, but I think definitely there's a, for sure, possibility,
16:39
that it could be good for Twitter. But I think there's a for certainty that this is horrible for Elon Musk. Consistently, the guy makes decisions that are funny and cool and leave
16:52
people like shocked that, they did that, but it's kinda like eating an entire orange, including the peel. It's really funny and hilarious that you actually did it. We're gonna laugh about it forever, but I'm shocked that I do a guy in college who ate an entire orange and an entire lemon one time and one sitting, including the peel. And I'm like, that's hilarious that you've done that. I have a story for now forever, but that's gonna suck for you for a while. And so, that's kinda like what this is. Like, this is gonna bad for Elon for a long time. This is not gonna make his life more fun. This is gonna make his life, a significantly worse, significantly
17:25
harder.
17:26
It's so much more sure. This is not a smart move for his personal life.
17:31
Well, the the point he's at right now is brilliant because what does this say about Elon? This says,
17:36
Number one, I'm super rich. I could just buy Twitter. How about that? Somebody tweeted out. They go, Elon said,
17:43
I okay.
17:44
You know, you don't want me on your board. Okay. I won't have a board seat. I'll have all the board seats.
17:50
Right. Right? So so so that's one piece, which is, like, if you in case you forgot,
17:55
way richer than all of you. Okay. Second thing is, why are you doing this, Elon? Or you just you just wanna own it, have more power? Like, think about when Jeff Bezos bought the Washington Post or whatever. It's like, one of these billionaires trying to do, they're trying to control us. Elon is like these tech companies are effing effing it up, which that's already the the the way that a lot of people believe is that these tech companies have too much power, too much control, they're shaping the narrative. They're they're not free speech. So he came out as
18:21
I'm doing this for free speech.
18:23
It's like, how are you gonna argue against free speech? Right? Like, you know, raise your hand if you're against free speech. And so he virtually signaled free speech on top of it.
18:32
He did it in like a bold and bolder way where it's like, gonna give him, like, way more attention and fame and a bunch of reasons why people would talk about him. And he's gonna make money from it, you know, just by, like, buying the shares beforehand, then creating all this ruckus and then, like, you know, being able to sell out if he says, oh, well, I didn't get it. You know?
18:49
So so I think and he could kinda be the underdog of, like, yeah, you know, they
18:53
the powers that be wouldn't let me do what I wanted to do. I was gonna make their shit awesome. But, you know, they they they wouldn't let me do it. They tried to they tried to squash me. Dude, how about the fact we just did an episode where we recapped the milk road where,
19:07
you, where Peter Teel had this, like, outlandish headline, where which
19:12
it might be true. No. I actually don't think it's I think he was joking a little bit, where he said Warren Buffett's a sociopath,
19:17
and he went to list about all the is why Warren Buffett who's He called him hold on. He called him the sociopathic Grandpa in Omaha.
19:24
Yes. Who but, like, Warren Buffett, the his stereotype, and it's probably actually true is that he's this nice, old man who just aw shucks. I just happen to do it, whatever. And Peter Teal is this evil guy who caused this, like, old grandpa, is Sociopath.
19:39
And then you've got Elon who does the craziest shit on Earth. Imagine these guys when they're
19:44
twenty five, thirty years old, they had a little something, but maybe not like that much. And what type of fun would it have been to be in the same room with these fucking shit heads?
19:55
Who are who are it's like the perfect combination of, like, capable enough to pull it off, crazy enough to think it's funny. And,
20:02
it's just all this perfect combination. I can't imagine being around these guys when they were younger.
20:07
Yeah. Exactly. Ben, pull this tweet up. So he's at Elon, right now, as we're talking, he's at Ted.
20:13
And you know who's there?
20:15
Is Our boys?
20:17
Our boys. Yeah.
20:18
Andrew Jack. So he's at Ted right now. He was there to talk about whatever SpaceX. Tesla, whatever, dude. But, of course, that. Yeah. Of course. You know,
20:27
it's a it's a thirty minute talk about Twitter. And so, Ben, can you pull this link up in the in the screen share, we should watch this. This is Elon Musk talking about his plan b if the deal doesn't go through for Twitter. So I I haven't watched this video because this just got tweeted out just now. So I wanna hear I wanna live react to whatever he says. You know, thirty seconds. Do you do you well, Ben, find that clip, pull it up. And, but while Ben's finding that clip, do you think
20:52
so, like,
20:54
I don't buy, like, that nice of stuff, but, like, let's say, like, I see a car that I like, and it's, like, fifty thousand dollars. And I'm, like, yeah, I'm just gonna buy it, and I'll figure out how ensure it, and I'll figure out where I'm gonna store it after I'm buying it. Like, it's kind of a big deal because it's like a fifty thousand dollar thing, but, like, it's not gonna kill me. Do you think that Elon is thinking about it? Like, I would think about, like, a fifty thousand dollar car, or is this, like,
21:18
like, how well how thought out do you think this is? Well, let's let's look at this. So Elon net worth right now is two hundred and sixty five billion dollar I think. Yeah. But I can't I don't think that that I don't I don't think that, like, that's entire that is true in a sense of a net worth, but he definitely has a lot of debt because he's gotta sell
21:36
I mean, it's not like that liquid, I would think. So the even if he we don't know all the details and we don't know we don't know all of his personal financial situation, but let's just take the high level numbers for a second.
21:47
That's,
21:48
I think, you know, like, whatever,
21:50
roughly twenty percent of his net worth that he would be putting in this. So That's a lot. You know, you're worth ten million dollars is you buying a two million dollar
21:59
asset. Right? The difference is is that you only have eight million if you're worth ten million left, which is a lot, but, like, you're not gonna go and buy a bunch more two million dollar things. With Elon, you still have seventy or fifty or billions. Yeah. Yeah.
22:13
You have
22:14
whatever, like, two hundred billion to fall back on up here. Yeah. Whatever it is. We have this clip. I wanna see what he says. I I don't know if this is gonna be good because just happened just now, but Ben, let's play this and I wanna hear it.
22:24
But but the the truth matters to me a lot. It really, like,
22:28
sort of pathologically
22:29
it matters to me. Okay. So, so
22:33
you don't need to lose if in this case you are not successful
22:36
in, you know, the board,
22:38
does not accept your offer. You've said you won't go higher. Is there a plan b? There
22:46
is.
22:51
I I think we I think we would like to hear a little bit about Sande.
22:58
For for another time, I think.
23:01
Another time. Yeah. Alright.
23:05
I
23:07
that that's a nice tease. Alright. So,
23:13
That's great. Nice.
23:16
Well played. Well played in that in that case. Don't know if plan b could be. Right? Like launching his own,
23:21
launching his own thing. I think it's probably I don't think I don't think that would that's a good plan b.
23:26
Twitter is is is you know, it's really hard. You know, like, how many people say they're they're gonna create a social media product and how many people try and how many have worked. So a lot try. Everyone tries when they first start. And there's, like, three.
23:40
Right. Right? TikTok,
23:42
YouTube,
23:43
Facebook, and Instagram, and
23:46
you know what I mean? There's three.
23:49
Yeah. I I I do think it would be very, very hard would be much better as to buy the existing asset. But How's trump's things doing? What's it? Do you know what the I mean, it's like horrible. Right?
23:59
I downloaded it because I was like, I gotta see what's going on on this thing, but, I haven't spent too much time on it. It was like crashing like crazy, like, the first day. Out. Yeah. Truth social. I don't think building it is possible. Maybe that's the plan b. Maybe he's gonna be like, hey, everybody.
24:12
Treat social. That's where we're going. Because then you get the trump stands and the Elon stands together. Together, that's a lot of people who are, like, devoted followers of those two. The problem is they hate each other.
24:25
And also,
24:27
Elon doesn't care about making conservatives happy. He cares about
24:31
trolling.
24:32
So if you only have your own audience on there, it wouldn't be very fun.
24:37
Right. You know what I mean? He he he he he does like
24:40
getting people cheering, he like he likes pissing people off or ruffling feathers. And the thing about the truth, I you know what? I think that's rooted in. I think that's rooted in his father lying to him. And so Elon's dad. So listen.
24:54
You went you went there. Daddy issues. Is it if it all comes back to daddy issues? Everything, I think, not everything. I think that most things in life are genetics, and then the other half is things that happen to you from age like, zero to four.
25:08
And I that that's really I've been someone who Before is young, what what what was he lied to between Maybe ten. How would we even know? Maybe ten. But I do think, like, things happen when you're two and three, like, like, it actually impacts you, but let's go up to ten.
25:21
And I think that, like, he's had a troubled relationship dad and his dad just wasn't around. And I have a feeling there's a world where his dad was like, I promise I'll be at this game. I promise I'll do this or like, you know, like, you know, I'm working on this huge business deal out. He's, like, unemployed, and he or he doesn't show up to the game. I think that there's, like, something like that that has happened, that he's, like,
25:40
obsessive, compulsive about truth. I actually do believe him when he says truth.
25:48
What it is that wait. Sorry. What did his dad lie to him about? I'm just made that up. I don't know, but I know that his dad
25:54
his dad his his neck my
25:56
well, no. What his dad wasn't around. Like, his dad, like, was,
26:01
he left his mom and, like, he wasn't very present in his life, and I think he was kinda, rude to his family. And I'm just guessing, like, there's a world where, like, he's, like, a just went was kind of an asshole and was kinda messing around,
26:12
and just doing what he said. For sure for sure the things that you value come from your experiences.
26:17
Like, you know, people who value authenticity is because they've dealt within authenticity. People who value, you know, family is typically because they've had either great experience
26:25
the family or,
26:27
terrible experiences of the family that they wanna rectify it. Right? So you definitely are shaped by that. So if he's telling us, you know, I'm sort of, like, what, I don't know what he said in that, like, a maniacally or what he said, like, you know, maniacal about the truth.
26:38
I think he said, I think he said he said obsessive, I think. I think he says, like, or he said something, like, to its point it's almost a problem that he he goes, I don't care about the truth.
26:48
And, like, you know, okay. Some percentage of that is just, again, virtue signaling, but, you know, let's take him at his word for it.
26:55
You know, let's be clear. What what does he think is happening? So, you know, like,
27:00
what is untrue? You know, like, there's it's like free speech. Cool. Gonna be able to say anything, those not those are not necessarily gonna be true. Right?
27:08
It's just this belief. There's a belief that
27:10
you know, the answer to to bad speech is is more speech, not censorship.
27:15
So, you know, I I get that.
27:18
But I'm not sure really what his ideas are. Right? Like, if you if you look at the list of ideas, I forgot what,
27:24
I saw this screenshot of Elon's,
27:27
Elon's,
27:28
Twitter,
27:30
ideas. Let me see if I could find this real quick. I don't even I think that, like, I I'm not well versed in, like, the political scene of Twitter and, like, I understand why people want free speech. Obviously, I know the Donald Trump example, and just like an example everyone hangs on. I don't know tons of other examples. One of them being,
27:47
this hundred Biden story, which I don't even remember what the story was, but I know that New York observe which is a conservative paper in New York. They said Hunter Biden. I think it involved prostitutes. I think it involved drug addict, being a drug addict, things like that. They published it Twitter suspended them and turns out a year and a half or two years later, it was true. And New York Times wrote a very similar story saying the same things happened. They posted it and they weren't banned. And I think that there's a handful of examples like that that people are pissed off about, but I'm not sure if it's like
28:19
rampid other than I mean, but one could argue it is rampant if the most popular if the president can't use Twitter.
28:26
Yeah. I I think that's probably, like, the the strongest,
28:30
like, you know, example.
28:31
Hold on. Okay. So I'm just gonna read this out loud real quick.
28:35
Because alright. Here, let me,
28:37
yeah, let me read something on. Here's a list of the of what Elon has tweeted.
28:41
Since,
28:43
you know, since he kind of announced that he what he was gonna do. And
28:47
before he,
28:49
left the left the board, he goes,
28:51
The first one tweet was
28:53
vote to remove the w from Twitter. So just titter. And then his poll options were yes and of course.
28:59
God. That's so stupid. That's that's what that's kind of a cringe joke.
29:03
Exactly.
29:04
Turn proposal number two, turn HQ into a homeless shelter. Number three, eliminate ad revenue. Number four. Just say that Twitter is dying.
29:12
Number five, overhaul the blue check mark policy.
29:15
Number six. On board with that, oh, totally. He said he was gonna smoke weed at the next board meeting. Oh my god. He posted a meme of him smoking weed at Joe rogan,
29:23
at the next board meeting.
29:25
The next one, an edit button.
29:28
Next idea, and then just put this in quotes, free speech.
29:31
Like, there was no idea of how or why or what, you know, like just free speech. And the last one was open source Twitter algorithm. So, like, you know, so the people who are like, you know, Elon's gonna save,
29:42
you, Elon's gonna save Twitter. It's like, well, if you
29:46
If you pay attention to the, the ideas that he had,
29:50
they were not the most earth shattering ideas between our our Wheless shelter,
29:55
you know, quote unquote free speech, but, you know, what what were these ideas? Our friend Nikita, who,
30:00
seems like he knows what he's talking about with some consumer apps, was like, I you know, maybe I like Elon, maybe I don't, but running a car company and creating PayPal and a solar business is a lot different than, like, the kind of art that it takes to create a consumer tech product like Twitter, and I totally agree with that. You know, like, think about the when someone's like, well, we're gonna create this thing that you can only rate one hundred and forty characters. Nine out of ten normal people would be like, what? If that let's make it so I can write as much as I want, or let's just make it so anyone can edit it and do all this other stuff. And they're like, no, no, no, we're gonna do this weird thing.
30:35
It's kinda like vine. Like you only have four seconds to make a video. Four seconds. No one no one can do that. It's like, no, it's and it creates it a whole art out of it. You know what I mean? And so I I think Twitter will, Elon could potentially be a little bit too rational and logical to create the magic,
30:50
of, of Twitter.
30:52
So I I have the complete opposite take. I think if the guy can land a rocket, re land a rock rocket on its butt in the middle of the ocean, and he can make electric cars that are awesome.
31:02
I'm pretty sure he could, like, you know, figure out this social media thing. Now the problem is he's still doing those other things. So like, fucking Albert Einstein ain't gonna create YouTube. You know what I mean? Like, he's not gonna create it. He doesn't need to create it. He's just he's a he's a he's a leader and he's a, the first we'll think her. You know, like, do who do I have more faith in Parag or Elon? I have more faith in Elon than I do for parole. Well, yeah. But that guy running. And that guy's running it. He ain't he's CEO. He's just making sure there's this train show up on time. He's not building the train. Well, that's the problem. Right? Like, you know, that's why plateau. That's what user growth was like three hundred million monthly active users, like, whatever five years ago. Now it's like three forty. It's like it hasn't grown,
31:40
much at all, plus, you know, other problems of, like, hey, scams and other stuff. So
31:44
my take is is that this is the ultimate ex example of social media ruining everything. So, like, think about in your in my day, like,
31:53
I know for me how much time and productivity from like useful awesome activities I I could be doing.
32:00
I'm just checking Twitter about TikTok and whatever. You know, social media is this, like, distraction time suck. It's like, damn, this guy's trying to make us multiplanetary and, like, self driving cars and, like, get us off of fossil fuels, and he's getting distracted by social media. He's just doing it at the biggest scale. Like, not just using social because, like, I'm gonna buy it. Have to fix it. And it's like, dude. No. No. No. Just just do the thing where you help us, like, go to Mars and have self driving cars that are electric. Like, those are the useful things Solving social media is, like, just another distraction just done at Elon Scale. If he dies in the next five years, would you be surprised?
32:34
I would not be surprised.
32:36
I would not be surprised either. Do you think that would be the way that that would that's is does this story have to end that way? Like No. I don't think he's gonna die that think he's gonna die. Like, I would, you know, low probability, but I do think that,
32:50
it would turn him into, like, the greatest cult hero ever. Well, it's kinda like, you know, everyone talks about Tupac, and I've got Tupac in my background here. I love Tupac. You know, he died when he was twenty five. He was only twenty five. People talk about this guy being like that. Yeah. A lot of people don't know that. He was twenty five. Biggie was twenty four. Okay. And so people are like, oh, they're best rappers ever. And I'm like, well, they didn't really have that long of a career. So, like, Jay Z and m and M and M, they've done it for, like, twenty years now. So they definitely have and and and but the reason we say he's the best ever is because he died young and he's like, oh, all the potential. So in some way, I'm like, that's Elon could do name. He should go out on top maybe and this will remember him as being the best. I mean, would you wanna die and be the two pack of newsletters or what?
33:33
No. I wouldn't want to. No. But I'm not Elon. You know, there's two things I know in this world. Like, the, you know, there's crazy guys in the world like Elon, and the second thing is I'm not one of them. That's that's what I know is is there's weirdos like him and I ain't it. Think we we should end it on that. Just to reiterate your angle Sam, you're of the opinion that Elon has daddy issues, and you hope he dies. Is that correct?
33:55
I
33:57
to the first point, one hundred percent he has daddy daddy issues. Yeah. Show me a successful person. I'm gonna show you a fucked up dad for sure without a doubt. Okay.
34:06
The second thing. Do I do I hope he dies? One hundred percent? No. Do I think it will be an even better part of the story? Yes. Unless,
34:15
he has some like, what's the guy's name? The rich guy who, created the airplane that,
34:22
Leo Howard Hughes.
34:23
How howard Hughes? Unless he has some kind of weird Howard Hughes thing where it becomes even more, or JD Salinger just disappears and it becomes even more of this, like, mystery, then yeah. I'm on board with that. But if he just gets old and he just begins, like, peeing himself and dies, I'm like, oh, fuck. Like, you can't he can't go out that way. Yeah. Yeah. That's actually a better question which was. What's the right way for you on to go? You know, like, heart attack,
34:46
nah, just he was overworked and stressed. Nah. That's that's for that's for the common man. Well, dying on Mars, like, crashing up. Exactly. That's that's a great way. He's gotta be the guy who goes to Mars.
34:57
Die dies in the process, taking taking man farther than they've ever gone before. That's gotta be the way he goes. Or he just disappears
35:04
or he just disappears and just, like, no one knows where he is. And he just he's he lives in a,
35:09
a trailer in rural town. And he has to go when he goes out, he has to say he's satoshi Nakamoto.
35:13
He has to just he's
35:15
the smartest move he could do. Right? If I'm his PR team, I'm like, listen, Elon.
35:20
Before you go, we need to
35:22
claim the Satoshi thing.
35:25
That's just the cherry on top of your legacy is if you were Satoshi, and there's no way to disprove it if you're gonna go anyways. So,
35:33
so so that that's the last little little thing he should do on his to do list of bucket list before he before he kicks it. Dude, this is awesome. Alright. That was a good one. Not where Russ thought we would end it with him dying. That's a that's a good impromptu episode, I think. Ben, what do you think?
35:47
Yeah. Love it. I loved it. I,
35:50
I think, I think it's a bad investment. I but I think Elon's having fun. If you
35:54
had as much money he had, why would you not spend your time just having fun? I think he's having fun. I don't think he's having fun. I don't think he's having fun. I think that's an investment. You think this is a strategy. I think that is kind of playing the
36:07
role of a court jester
36:09
where he's laughing on the outside and it appears to be fun and he everyone's laughing
36:14
with him,
36:16
but also he's crying on the inside.
36:19
I think I do I I I do not think that his life is in enjoyable
36:23
in any sense of the word.
36:25
I don't either, but I think he's getting enjoyment from this probably.
36:29
Yeah. Like, it's like a I think it's a but think it's our version of, like,
36:33
when you tweet something funny or I tweet something funny, I also am, like,
36:37
like, giggity, like, I'm, like, of, like, quackmire family guy, like, giggity. That's hilarious. But, like, it doesn't it's not, like, I'm happy, like, three days later from that and feel, like, content.
36:47
Right. Right. Right. Yeah. You're saying doesn't come across like a content, happy person. And that he said in many interviews,
36:54
the to to that extent, you know, things you wouldn't wanna be me. That's not what, you know, a very happy condemned person says. Okay. Great. Or I will find death as a relief. Right. So those are pretty, you know, as as strong as it gets. You don't have to read between the lines there.
37:08
But to Ben's point, I do think that he gets off on being, you know, the class clown.
37:13
The guy who gives the middle finger to the to the to the system. Right? He's he's taking fu money and he's saying fu. So, you know, he's he is enjoying, I think, the stunt aspect of it. And I don't think he's doing it as a economic investment.
37:27
I think he's he's doing it as a combination of maybe twenty percent stunt, publicity
37:32
stunt, and maybe eighty percent mission, and maybe I'm wrong on those sliders. Maybe it's more like fifty fifty or, you know, eighty twenty the other way. I'm not sure. I I think it's eighty percent mission, twenty percent stunt not an economic investment.
37:44
But I do think this as we say on the on the on the micros million podcast.
37:49
Yeah. We're big on being post economic.
37:52
Late stage capitalism. That's what we're known for. But I do think, like, you look at Jeff Bezos who bought Washington Post. I don't know. He paid, like, a billion for Washington Post? No. I think he paid two hundred million dollars, dude. Two hundred million. Okay. Two hundred million. Nothing. But at the same time, he got nothing. Like Washington Post gives you a voice. I yes,
38:11
but, like, you don't even have full editorial control
38:14
and,
38:15
like, could if he wanted to, but he could if he wanted to. I think what he got is a little different. I think at the time, that was seen as, like,
38:22
cool power move. Like, we all know about that. So it it did work in that sense. The second thing he got was something many rich guys have.
38:30
Just vanity, you know, collectibles items.
38:33
Yeah. I own this. I own, you know, this farm. I own this basketball team. I own I own these things you've heard of.
38:40
There is a sort of rich guy toy to chest thing.
38:44
I agree. It's like owning a sports team. It's it's like a a a journalism sports team. But I think from the functionality standpoint of, like, actually being able to have a voice,
38:53
like,
38:55
buying Twitter is sort of the same thing, but he's getting the only voice that matters. Like, he's getting the only thing that can actually
39:01
drive and change public opinion if you wanted to to pull that move.
39:05
How much is, like, CNN?
39:09
Good question. What what's the parent company?
39:12
Well, I think they just merged.
39:14
Did they
39:16
Maybe between five and ten billion, I would guess.
39:19
Look up news look up news corp. A lot of bang for your buck.
39:23
But news corp, which is the one So, basically, Rupert Murdoch started Fox, which is, he started this one company that,
39:31
recently,
39:32
had to separate because it was a monopoly on news. And those two companies became News Corp, which basically owns Fox News and Fox News affiliates, and then twenty first Century Fox, which is like the movies and TV shows, And collectively,
39:46
that value is, like, I think a hundred.
39:49
No. No. No.
39:51
Or fifty It's, like, thirteen band?
39:54
Both of them combined? No.
39:56
Maybe I don't have the second one. What's news corp? News Corp Lasse is thirteen billion. That's the least valuable or the less lesser of the two. What's the more valuable one? Fox twenty first century. I think that's what it's called.
40:10
Dude. I think this is the one.
40:14
Fox Corporation,
40:15
Fox.
40:16
Okay. I don't know if this is the right Fox Corporation, thirty billion? Yeah. That's it. That's it. So fit, forty three total.
40:24
Yeah.
40:25
Yeah. This is the right one. And they're way more popular than CNN. So,
40:29
yeah, I CNN can't be that expensive. But who the fuck wants to own CNN?
40:34
These dudes who wanna own Washington Post and Twitter. Right. Why not? Do you know how many people watch CNN, at any given point? Like, they're real time viewers. It's, like, sometimes as low as tens of thousands of people. Like, it's not it's not a significant amount of people that are watching it at any given point. There's chicks on Twitch doing ASMR that have more viewership than CNN, like, in the middle of the afternoon.
40:54
Yeah. That's what I'm saying. Like, CNN, like Not really, but it's hilarious that I said that. I mean, there
41:00
there
41:01
there's, like, cool shit. Like, interstate is pretty cool, but, like, it's just, like, fucking dentist.
41:06
Like, you listen to it when you're at the dentist. Like, it's not, like, a particularly trapped into chair being tortured. Yeah. It's like shooting situations and, like, going to the dentist or, like, the only times that I've got, like, CNN on, or when you go to, like, do you have a go to Do you ever get coffee in the morning and fox or at a McDonald's? They always have, like, fox playing in the background. That's, like, the only time I, like, see the news. That's hilarious. Did you see the CNN plus like, failed. It failed. Yeah. Dude, what do you expect? Like, you can't just, like, put a plus and then a paywall on, like, the shit that no one cares about and hope that they automatically do court shut down their paywall today too. It was the same thing. It's like you can't just call courts pro and expect to get more money because the main courts already suck.
41:49
You know what I mean? Like, you just put a a bow on a bike. Pay for it, though. Yeah. Like, you can't put a bow on a pile of poo and it ought really isn't a pile of poo.
41:58
But that's basically what a lot of these companies do, and it's not the right move.
42:02
Yeah. The plus thing just like a dead giveaway. It's like, that's a tell. A plus or pro.
42:10
Alright. That was good.
00:00 42:25