He wasn’t serious about buying Twitter, but the FCC was going to force him because he accidentally committed to it legally and couldn’t get out of it
To make the deal he had to get loans with his other stock as collateral.
He could legitimately lose huuuge chunks of his wealth if Twitter goes under and he can’t pay the loans. And he has no idea how to make it profitable. No one’s figured it out, it’s likely impossible.
He’s used to making short term moves to drive up stock price, but there’s no Twitter stock price now.
He has no idea what to do, and his ego is too big to admit he’s wrong.
It makes sense here.
He wasn’t serious about buying Twitter, but the FCC was going to force him because he accidentally committed to it legally and couldn’t get out of it
To make the deal he had to get loans with his other stock as collateral.
He could legitimately lose huuuge chunks of his wealth if Twitter goes under and he can’t pay the loans. And he has no idea how to make it profitable. No one’s figured it out, it’s likely impossible.
He’s used to making short term moves to drive up stock price, but there’s no Twitter stock price now.
He has no idea what to do, and his ego is too big to admit he’s wrong.