Musk testifies tweet that led to $44 billion lawsuit “may not have been my wisest”

kewippleNaja

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After signing a binding agreement to buy the company in April 2022 and waiving his rights to conduct due diligence, Musk soon started raising concerns about the number of bots on the platform.


On May 13 he tweeted the deal was “temporarily on hold” unless the company could prove that “spam/fake accounts do indeed represent less than 5% of users.” The stock fell 9 percent when markets opened that day.
A curious moment in time since now Twitter AI is so pervasive in the platform that everything on the platform can be accused of being AI bot generated.
 
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r0twhylr

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It's so aggravating that these people can't just say "I was a moron, alright?! My bad" every once-in-a-while.
I think that in courtroom-speak, that's exactly what he's trying to say.

His real problem is that there seems to be a trail of evidence that indicates that certain of his manbaby tweets may have been intended to manipulate Twitter's stock price.

For his safety and that of others, he should have a special phone for sending tweets which automatically tasers him if he tries to tweet anything regarding stocks.
 
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nzeid

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The shareholders who are now suing sold their stock at the lower price, only for the acquisition to close in October on its original terms at $54.20 per share after the company’s board sued Musk to close the deal.

I mean... maybe it's true right now that the destruction of all our institutions would allow Musk to walk away from the contract without consequences. But back then... I don't know. There was no indication that the shareholders wouldn't be able to move forward with the legally binding sale.
 
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Cthel

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that's a lot of ketamine and being bad at video games
I'm sure the owner of xAI couldn't object if the CEO said he needed to step away from day-to-day operations for a day or two to prepare for an upcoming court case involving the company?

Maybe they felt that the request was unreasonable since he was already using a couple of personal days next month to sue some guy called "Sam Altman"...
 
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Musk grew frustrated during questioning, accusing the lawyers of formulating questions “designed to mislead the jury” and trying to “put words into my mouth.”
I’ve read some of the transcripts when musk is deposed and he’s just a complete juvenile asshole. Fills my heart with joy reading that he’s getting so frustrated on the stand when someone reads his words back to him.

And the bots nonsense at the time was absolutely him trying to get out of or lower the price of the twitter deal. Hopefully he’s going to be cutting a rather large check to the plaintiffs soon.
 
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fenris_uy

Ars Tribunus Angusticlavius
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The lawyers also showed emails to Musk and his top lieutenants from bankers at Barclays on May 9 ahead of his “on hold” tweet.

“This could present you with an opportunity to revisit price,” the banker wrote. “It may not be a costless ask, as you will have to be perceived as being willing to risk paying the reverse break fee. However, the threat of walking away may be sufficient to get them to agree to a lower price.”

A later email from Barclays after the tweet said investors were now giving the deal “50/50 odds” and the share price would not move higher because they feared “more tweets with deal implications.”

Musk replied: “Matches my understanding of things.”
Did they really had that conversation in writing? My god, they are all idiots.

Also, as a court found out (or was close to doing when he settled) he wasn't able to simply walk away and pay the break fee. So another thing that proves that they might not be that smart.
 
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good_ol_dog

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I was looking for a poop emoji, but Ars has that and the even more appropriate "roll eyes poop" emoji as part of its standard Smilies: :rollpoop:.

At the time, I was pleasantly surprised the courts held Musk to the deal instead of allowing him "special leeway" :poop:. Yes, contract law is supposed to work that way.
 
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Did they really had that conversation in writing? My god, they are all idiots.
Yes...but also--other than the time Musk was forced to buy Twitter, he's never seen any consequences to anything he's openly lied about in his life. His lies to shareholders have been dismissed as "corporate puffery" by our courts.

He absolutely should learn to shut his mouth and his keyboard. BUT, there's never been any real consequence to him running either yet. After all his purchase of twitter was all debt swaps.
 
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It's like looking in to a time capsule.
Musk demanding to know how many bots were active in 2022 and now ramming his own personal AI in to every facet of the operation to manipulate the global flow of information.

I'm starting to think bots weren't actually a problem for him.
No the fact they weren't his bots was the problem, and also that a bunch of people said really super mean stuff that hurt his fee fees sometimes. IE he wasn't getting his balls gargled 24/7 for being Tony Stark more like Wiley Coyote.

He was so used to being surrounded by yes men and buying bots/upvote that he couldn't conceive of people not liking him. Turns out being a raging asshole tends to make people who aren't financially dependent on you tell you what an asshole you are. Plus there is an indication that he was trying to play the pump and dump game, but this time the Road Runner didn't just Meep Meep and run away he made Wiley pay up.
 
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LordEOD

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One of the main issues with Musk and anyone that attains a certain level of power, wealth or control is that those in their orbit that can't (or won't) correct their stupidities.

Normal folks and most even very wealthy or powerful folk will have spouses, friends, family, managers, accountant, lawyers, advice, etc. to simply tell them "hey, that's a stupid move" or "that's to risky - you have alot to lose by it"

But people like Musk don't really have that and then a snowball effect of ego and psychosis begin to take hold wherein even if the occasional voice of reason makes it through (or is even sought) there is no one left that can punch through the self made false reality.

There is no one and there is nothing that can save or change Musk and those like him.
That's why it is always upon society to create checks and balances (and in many cases, full-stops) in order to protect themselves from those that reach what is essentially madness.
 
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Missing_Linc

Smack-Fu Master, in training
23
No the fact they weren't his bots was the problem, and also that a bunch of people said really super mean stuff that hurt his fee fees sometimes. IE he wasn't getting his balls gargled 24/7 for being Tony Stark more like Wiley Coyote.

He was so used to being surrounded by yes men and buying bots/upvote that he couldn't conceive of people not liking him. Turns out being a raging asshole tends to make people who aren't financially dependent on you tell you what an asshole you are. Plus there is an indication that he was trying to play the pump and dump game, but this time the Road Runner didn't just Meep Meep and run away he made Wiley pay up.
My favourite kind of online entertainment is watching universally loathed people demand that people respect and love them. Often with full blown stampy feet.

I just wish they weren't rich and powerful enough to completely screw over everyone on Earth. It turns out FAFO is more of a metaphorical metronome.
 
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markgo

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It's so aggravating that these people can't just say "I was a moron, alright?! My bad" every once-in-a-while.
He can't say that here because it would cost him $44B. Also, he's lying about not trying to renegotiate the deal. The one he explicitly signed away ALL due diligence on.

This isn't being a moron, it's being a greedy double-dealing bastard.
 
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“It may not have been my wisest tweet,” Musk told the court. “I am not sure I would call it incredibly stupid… but if it led to this trial, it probably qualifies as such.”
Translation: "My opinions do not align with objective criteria."

It certainly wasn't his wisest tweet, but it probably wasn't his stupidest either. Because there is incredible competition for that title.
 
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jock2nerd

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Seems like a cut and dry case of words have consequences. Admitting the tweet was not his wisest seems like a genuine connection to reality though. Nice to see that. Hey, maybe this will be a turning point for Musk. I won’t hold my breath.
My reaction is: "is this the best line of answering that his lawyers could come up with?"

There does seem to be a strong stench associated with his attempts to say "hey, not my fault because I'm impulsive"
 
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KobayashiSaru

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It's so aggravating that these people can't just say "I was a moron, alright?! My bad" every once-in-a-while.
It's more aggravating that he'll never see the inside of a prison cell for blatant market manipulation and securities fraud. Not to mention numerous other felonies that are swept aside because he's obscenely wealthy and connected.
 
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r0twhylr

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One of the main issues with Musk and anyone that attains a certain level of power, wealth or control is that those in their orbit that can't (or won't) correct their stupidities.

Normal folks and most even very wealthy or powerful folk will have spouses, friends, family, managers, accountant, lawyers, advice, etc. to simply tell them "hey, that's a stupid move" or "that's to risky - you have alot to lose by it"

But people like Musk don't really have that and then a snowball effect of ego and psychosis begin to take hold wherein even if the occasional voice of reason makes it through (or is even sought) there is no one left that can punch through the self made false reality.

There is no one and there is nothing that can save or change Musk and those like him.
That's why it is always upon society to create checks and balances (and in many cases, full-stops) in order to protect themselves from those that reach what is essentially madness.
Good point. I'd add that rich/powerful types often seem to have an image (true or not) of themselves getting where they are because they ignored conventional wisdom and advice, and often seem to leverage that to rationalize their irrational actions.
 
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DirtyAussie

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Please don't modify people's quotes, even for silly jokes
Ejected from thread for 1 hours – (Mar 5, 2026 at 3:47 PM)
For his safety and that of others, he should have a special phone for sending tweets which automatically tasers him if he tries to tweet anything regarding stocks.
I know it is the obvious joke, but I really want it to happen. FTFY
 
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TekaroBB

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that's a lot of ketamine and being bad at video games
I may not know a ton about rocket science and electric car design, but I do know an absolute dogshit Elden Ring build when I see it.

When someone swears up and down that that they are amazing at two things you don't know and one thing you do, and he's terrible at the one you do know, one tends to assume the other two were also likely exaggerations.
 
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GreyAreaUK

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When someone swears up and down that that they are amazing at two things you don't know and one thing you do, and he's terrible at the one you do know, one tends to assume the other two were also likely exaggerations.
IMG_0923.jpeg
 
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