Elon Sues The Lawyers That Forced Him to Buy Twitter
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- Опубліковано 20 чер 2024
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The people who sold Twitter to Musk.
Wachtell, hands down... For a CEO, Musk has an exceptionally poor grasp on legal issues...
@@aloneill6337 and technical issues, and monetary issues, and ...
@@aloneill6337Musk continuing his flop era, you love to see it.
Watched hands down. The lawyers did what he asked them to do.
Elon Musk suing himself for buying Twitter is the only logical next step in this chain.
Can he also beat himself up in a cage fight instead of Zuckerberg?
@@VinceValentine I will loan him the hammer.
Watch his kids sue him for improperly taking care of money that should be their inheritance.
Give it time...
Can happen, just have different companies Elon owns sue each other. They're technically people, right?
"The Twitter board was stupid to take my lawsuit tantrum seriously" is a hell of a take.
I guess this guy is actually 3 years old.
it's literally what the kraken team said after defending trump..
Guy is the definition of failing upwards. No surprises here.
@@CarlosFlores-pl3lb He's got plenty of height for some historical faceplants. Please give this man another microphone.
It really doesn't matter what he does with his money. He literally can do whatever he want and never run out.
Buying Twitter was the worst thing to happen to Elon Musk. But renaming one of the most popular brands in the world to just X afterward is even worse. What we've seen him do in the last month might be the fastest meltdown I can think of. This trainwreck is still going on and it's so interesting to watch it in real time.
Someone once said Elon is one tragic accident away from being a supervillain. This was his tragic accident, but he instead become a laughing stuck
@@JakubWojciechowski933 We can only hope. the supervillain thing is actually not too far fetched, and is not meant as a joke, sadly.
"But renaming one of the most popular brands in the world to just X afterward is even worse."
Bookmark this post and re-read it 5 years from now and you will be embarrassed.
i mean everybody does know it's called X now
@@godassasin8097 But nobody recognizes that
I gotta say, filing this lawsuit *after* firing Twitter's three most-senior lawyers (at minimum) is an interesting strategy.
Those "most senior lawyers" were actively working against his orders. That's why he fired them. Same with most of the rest of the company.
@@timothyblazer1749 fair but at least having them would be some sort of help, if only a minimal one
@@timothyblazer1749lol, every layed off employee was working against his orders. Sure, buddy.
@@timothyblazer1749yeah, it wasn’t Musk’s fault that the company started bleeding money after he became the new owner, it was the pesky employees
@@timothyblazer1749 sure they were
I somehow didn't realize that since Twitter was the entity forcing Elon to buy the company, the legal fees would stick with the company, and not its prior owners. That's *extremely* funny.
While Twitter was a publically traded company, it was (and remains) a legal entity unto itself. The former board members are not normally liable for Twitter's bills at a personal level.
That's extremely messed up
@@josphe9011 yeah, Elon fighting a lawsuit against the company he's buying. He's basically neglecting his duty as the new owner right there.
Seems Elon didn't realize that either xD
@@josphe9011don’t buy a public company
watching Elon and Twitter decline is very fun in a 1789 French peasant kinda way
It's been that kind of month lol
@@johnfitzgerald1131 It's been that kind of decade for the last couple decades
@@JackdotC, at this point, I think it's safe to say it's been that kind of century.
2023 french peasant kind of way
Anyone want to come to my guillotine party?
Nothing says, "Twitter's better than ever!" quite like suing the ppl that made you go through with the offer that you yourself made. This is gonna be laughed out of court.
😂😂😂
I really hope so. Just remember, he got a not guilty verdict for calling that Thai diver, when the kids were trapped in cave with their trainer, and the flooding, when he said that Musks submarine idea is moronic, he responded well you are a pedo.. Online, probably over Twitter app.
He's legal defense was, he wus just joking.. Funny, haha.. Somehow that passed.
We are laughing already 😂
I’m no lawyer, but it seems to me that buying Twitter is kind of Elon’s fault. I think Elon needs a bit more self-control, TBH.
This is the most Canadian post I’ve ever read on UA-cam 😂
@@diamondsmasher i thought so too
Twitter said that had a certain amount of users and only AFTER the initial offering twitter disclosed the information "btw, we think 95% of this numbers are bots and not humans".
Elon is right to be pissed...
I agree
@@diamondsmasher re commonsense
Can you even scare a law firm with the threat of a law?
It's just like extinguishing a fire with ethyl alcohol
Ya it's like threatening the US military with military force. I don't think you're going to win that one. I guess Musk could get an even bigger law firm to go after them. Probably just shoes how musk is more motivated by prestige and emotion rather than monetary concerns.
Sure, if you make it about the cost of the nuisance. Law firms are out for profit, after all.
@@lauraprates8764 to be fair, if the ethyl alcohol is high enough pressure it'd work
@@jimballard1186
Not the case. They will just recover their losses FROM YOU.
I'm an artist, and Musk saying that the litigation shouldn't have cost so much because it didn't involve any actual special skill nor exceptionnal law knowledge, is so typical of clients who absolutely have the budget to pay you, but just won't. It's the "my cousin could have done that for free" argument.
And the response is "if that's true... Why didn't your cousin do it for free, eh?"
How billionaires stat billionaires...they don't pay their obligations
@@haxie4516 Or just "then ask your cousin to do it" and turn away to service the customers who are actually willing to pay. Bet this law firm will roll Elon the same way
Im a lawyer and over 30 years ive heard clients say that dozens of times. Usually from the richest clients.
@@Arterexius That's what I've been doing for a while now, I don't have time for that bull. Same for those who "pay in exposition", I learned the hard way that free work only brings in more free work
When the very first Tesla was released, car critic Jeremy Clarkson was allowed to review it. Then, after letting him review their car, Tesla sued him for being critical.. Jeremy won. Then Tesla appealed and just kept going. Elon musk seems to have a pattern of using the legal system in very shady ways, this doesn’t surprise me at all.
Tbh, I think at some point people should lose their right to sue, permanently. Even if a crime happens, they should be screwed.
Wait, so "free speech absolutist" Elon Musk sued a well known car journalist for giving a bad review of one of his cars?!?!?!?
That's hilarious!
Ditto his feud with the thai cave rescue diver. Musk felt his ego was challenged after the diver criticised his plan to use high tech robots in the rescue. Musk can be tenacious, but unfortunately in usually pointless feuds
@@notagain2856 He usually just hates to be corrected by actual experts and educated people whenever he tries to larp as Tony Stark. Thats the issue when he rather spends his time on twitter than getting an advanced engineering degree to actually invent all of the technology for his products himself, which would gain him Tony Stark respect.
@@shizachan8421 So if a drunk driver kills your family, you couldn't sue them?
All I know is that it's generally not a good idea to sue a law firm.
You need to A, know they did something wrong and B, know they wronged you.
Generally, but sometimes it is.
The fact he admits the initial lawsuit was nonsense while trying to justify his new lawsuit is just nuts
just wait 8 months till he sues someone else and has to argue that *this* suit was frivolous
Not as nuts as him asking his mom to bail him out of the cage fight with zukerberg 😂
Ehhh... yeah. It's crazy, but at the same time he does have a valid claim to sue (that the law firm was grossly overpaid and/or overcharged for their services.) Does this mean he can win this? I don't know. My crystal ball is broken. But when it comes to revenge lawsuits, this one at least has some teeth in that it's a valid complaint.
@@jackielinde7568Well he didn't over pay the law firm. The people that owned Twitter did. So even if he wins, he won't get the money. He didn't pay them.
@@wile123456wait, what? Can you give more details?
I will never grow tired of watching Elon cry about effectively tricking himself into vastly overpaying for Twitter.
Actually, his lawyers probably did. Knowing how famous, rich & dumb he was, this might have been like their free ticket to Eldorado.
If he gonna get huge chunk of that $90 millions back to the Twitter you gonna come back here and admit that you were wrong?(and no i am not Elon fanboy and my twitter account is 10 years old and i loged to that account once -> teen years ago).
In practice, it's called a poison pill & while the total "penalty" of $44B was decided on within 24 hours of Musk's Tweet. It's formally called a shareholder rights plan.
@@Bialy_1suuuuure kid, totally not a fanboy
🤣🤣🤣🤣🤣🤣
Elon Musk is that guy that tries to send his food back after eating 95% of it
"Elon X is that guy..."
FTFY
Absofreakinlutely
@@tothekneeWhat the hell does that mean
Hey there, Legal Eagle! My comment is not about the video in particular, I just wanted to thank you. After dropping out of uni, and struggling to find a carreer path, your videos inspired me to try and take on a carreer as a lawyer, and today I have been accepted into one of the most prestigious law schools in my country (I'm not from the US of A, I'm from Europe, Hungrary to be precise). I just wanted to say thank you for igniting a passion and interest in me for civil and criminal law through your videos. Stay awesome!
Epic
Congrats!
Oh damn nice job dude
Holy shit! Good job! And good luck going forward!
Congrats and good luck :)
The fact that he got duped into this by yet more lawyers who are gonna get paid yet more money is the funniest part 😂
He needs to start representing himself.
Assuming he pays them! He takes the Trump approach to paying his contracts.
@@randomaxe662 I know more about the law than anyone. Many people are saying this!
I imagine those lawyers currently representing him probably got paid in advance. They'd be stupid not to.
We’ve established Musk isn’t actually that good with money…
"It's so unfair!" - People who live their whole lives ripping off people who can't stand up to them, when they have to face any consequences at all ever
This. He can take on debt to buy the company and saddle it onto the company, and this is perfectly fine. But when twitter takes on debt (or expenses) to sell the company and saddles it onto the company, that is suddenly not fine.
reminds me of an orange guy.
@@TyranastraszaVery similar, yes.
Sounds like the gop. 😂
🧂🧂
I for one cannot believe that one of the richest men on earth who roleplays on twitter as his own 3 year old child who bought twitter because he was being stupid would create such a frivilous, meaningless time-wasting lawsuit. if you can't trust a billionaire, man
I like your profile picture
The lawyers: “Oh you are suing us? Sure, we will win. And you will pay us more. Again.”
Let me try to get this straight: Elon is suing the law firm, once hired by his company to sue him to buy the company to begin with.
My favourite part is that he's probably using the same lawyers who already lost one round to this firm.
😂😂😂😂😂😂that sums it up
Yup, because the guy who sold it to him basically paid Wachtell money that would have otherwise gone to Musk once they knew it wasn't going to be _their_ money any more.
I'd be suing Wachtell _and_ the board for essentially grifting millions out of Twitter right before selling it.
@@TrueHelpTV that's a lot of words to say you didn't watch the video
"Hey, Legal Eagle, you heard of anything like that?"
"Pfff. Never happen. That's the stupidest, most preposterous-"
"Here's Elon's latest lawsuit.
"Oh. Oh. Oh, my. Ooooooooooooooooooh."
Suing the law firm you already lost 44billion too, that's a bold move Cotton, let's see how it works out for him.
Lol love it! Hopefully he follows the 5 Ds of Dodgeball! Give ya 44 billion if you know em? Lol
@@daveg-Vancouver_IslandDodge, duck, dip, dive and dodge! *Throws wrench*
LOL...I had to Google that....
@@EsteemedReptile If you can dodge a wrench you can dodge a ball!
@@mr.tamoshanter50a true American hero
I'm really done with rich people and politicians using the US legal system as thier stomping ground to freely demand money and settle squabbles whenever they feel like it.
When capitalism works for him he's a ruthless ,genius ,business man, but when he feels like he loses he complains and says the deal was unfair how can anyone believe this man is a genius
lawsuits are a part of capitalism as of now
and he wouldn't buy Twitter if there wasn't a lawsuit anyway ?
Even though he's regarded as a successful business man, that history is complex and has made him controversial. He was a history of breaking contracts! As far as a genius, his projects in tech and aerospace seem to have a particular interest of many in public. Twitter or X is a problem on many fronts apart from legal and money headaches PR wise most obviously see this as stupid. I personally would as say twitter was a huge waste of Elon's time considering the other companies he owns.
@@mikearchangel7998 SpaceX and Tesla largely run themselves at this point due to the amount of trouble Musk has gotten himself in while directing those companies.
Sounds like Trump.
He's clearly not very consistent which probably annoys his engineers a lot.😊
Honestly, I enjoy sitting back and watching Elon and twitter go up into flames.
It's hard not to enjoy at this point 😆
Schadenfreude is one hell of a drug
You are not alone. It's been entertaining.
Being priviliged is one hell of a drug, I guess.
@geongsi6991 is it still schadenfreude if it isn't wrong?
Imagine stating on social media multiple times that you'd buy a company and go through the loops and then try to back out at the last minute only to be held to your word. Crazy
Shouldn't freedom of speech be a thing tho? Do we all have to buy companies we joke about buying?
@@infernalstan886 only if you sign multiple contracts saying you will, secure the finances for it, prep all the legal work and have lawyers on both sides finalizing the deal, yes.
Otherwise?
You have no clue what freedom of speech is.
@@infernalstan886freedom of speech doesn't mean you can lie in a written contract 😂 where do you people come from
@@infernalstan886 LMAO that has no bearing here. That's not what freedom of speech is or what it means.
@@infernalstan886 also, he wasn't just joking on twitter and then twitter forced him to then *buy* the company. You're completely insane if that's how you think the world works.
Remember that day Elon brought a sink into Twitter with a big smile on his face? He may not be good at most things, but he's very good at foreshadowing.
Right?? LMAO!! Good one!
I've said it before: If I go on social media and say "I'm going to buy Twitter", everybody would ignore me (although a few people might take a couple seconds to laugh at my broke rear end)
When you own million$ in Twitter stock you can NOT do that and then say "hey just kidding!"
Money talks. And in Elon's case it would not SHUT UP.
He didn't just say it on Twitter. He signed a contract agreeing to buy it. If you were to sign a contract agreeing to buy something and then failed to do so, you'd likely find yourself in court too.
So let me get this straight... He offered to overpay as a joke, signed a contract, got mad that they took him seriously and is now suing the law firm for...the results of his own actions?????
money creates a proportional mental disease , narcissism, delusional, disbelief in consequence of actions, etc.
I guess this channel viewers have a lot of hate for Elon. Anyone who actually watched the video can tell that it is not what happened at all. Elon is sueing the lawyers because they went from hourly billing (almost 16M) to success fee rate (90M) before the day of closing the deal. Even a 5 year old can tell that it was a piece of shit move by the law firm which should not be ok at all.
And as far as twitter goes, Elon's beef is that they started self sabotaging after agreeing to the fixed rate. Which again, should be super illegal. Its like buying a house and the previous owner than messes up the house before you move in. I am sure you would be pissed as well. Just because the contract has been signed, does not mean they get to neglect the product and self sabotage.
The issue is plain and simple yet the people here seem to have a hate boner for Elon and get to ridiculous conclusions like yours.
Well yes if course. What's the point of being stinkin' 🤑 if not that cause and effect don't apply to you any more?
A large percentage of the users were bots. It was a scam company.
Yep
Every single problem in Elon's dealings with Twitter (and most of the other problems he has publicly dealt with) can basically be summed up as "Elon Musk thinks he's smarter than everyone else and he is hilariously, deliriously wrong."
Fact: being smarter than you doesn't make someone smarter than everyone else.
He's the final, ultimate evolution of the Redditor
fact: Elon Muskrat is dumb
@@TheAnon26that was brutal 😂
Was just watching a video where Elon Musk claimed to have asperger syndrome. More like assberger syndrome.
I always felt like Elon couldn’t afford to just outright buy Twitter. That’s why he backed out. Net worth and liquid cash are completely different things. If you look at Elon’s history of false and wrong predictions and projects - you’d realize he isn’t this genius socialite he portrays.
Yeah, a lot of his value is in his companies and properties, and a lot of those have questionable value on their balance sheets or mainly rely on Elon’s hype, so he isn’t going to have a lot of luck liquidating much of their value.
The one thing one realizes in the legal field, is that nothing gets a lawyer more motivated that him not getting paid.
It's a small comfort that even if the super-rich can't fail in life, they can still fail in court.
Exactly. Chump has done it on dozens upon dozens of occasions. But he's still completely invincible and untouchable. Kinda same thing with Theranos chick and Cryptocurrency creep.
@@Novastar.SaberCombatthe "untouchable" part is currently going byebye fast.
That's because he's going against other super-rich people
It fills me with joy to think that people that have more money they could ever spend in 100 lifetimes still have to wake up in the morning and worry about stupid shit like that.
It's truly wild how much clownish behavior we're letting them get away with and still be like "these people are hoarding wealth that could save thousands of people".
The Twitter saga summed up
>Elon makes promose to buy it
>Backs out
>Lawyers force him to keep promise
>Elon finds out he's not as smart as he thinks and causes a disaster at managing the company
>And now he wants a refund after ruining the product he bought.
Now imagine Tesla owners with buyer’s remorse or facing absurd costs for upgrades or replacements… there are plenty.
@@persuasivebarrier2419 companies don't really come with a warranty, cars do
😂😂😂
@@persuasivebarrier2419Twitter board didn’t promise Elon stars and the moon but Elon claims that in his barely functioning FSD, that’s the difference li’l fanboiii.
Lol that’s not at all what happened did you even watch the video?
If I understand correctly (which I probably don’t), the peeps who originally sued and sold twitter were brilliant. They didn’t have to pay a penny and walked away with the moneys. 💰
The company have to pay... but 10 minutes after paying, Elon become the new owner, so he feel like he was made to pay for the lawyers that beat him up.
And gave tons of money to their shareholders, which is the important part. They did the capitalism right, and Elon X + all his crybaby fanboyz are upset about it.
He can't sue them for all the shockingly bad decisions he made when he took over the company.
I will never understand why Elon has such a fanatically loyal fanbase...
Many people are dumb and, unfortunately, dumb people are very loud and very sure of themselves.
Because he figured out, or lucked into, a few industries that a portion of the population find really cool. As a nerd, new development in space vehicles and automated driving are very much my bag.
Then he presented himself as a wish fulfillment archetype that acted the way idiots wish they could get away with. They all imagine being him.
Does he? Literally every liked comment here is people ripping into him.
Gell-Mann Amnesia. Tech bros thought he knew what he was talking about until he started talking tech.
@@tewks4458hey, just because the muskrats don't watch legal eagle doesn't mean they don't exist!
I believe this is one form of what is legally called an "idiot fee".
SAVAGE... 🤣
in tech support we call it "an ID10t surcharge," pronounced "eye dee ten tee."
It’s the i-d-10-T item code on the invoice 😂
It's funny how you are usually fairly unbiased when assessing legal situations but when it comes to this you are just smack talking Elon like crazy. And honestly I love it 😂
He should sue himself for idiocy.
-Don't give Elon X any ideas-
Wait, what am I saying?! 🤣
No one has done more to shatter the illusion of the brilliant tech billionaire than Elon has. Thank you for your service, you glorious deluded manbaby.
Considering the competition (Sam Bankman-Fried and Elizabeth Holmes come to mind), you have to admit that it's quite an accomplishment.
Why does everyone hate Musk??
@@GSBarlev except They are scammers and Musk has shown to Actually be a businessman. So how are they comparable??
@@JohnDoe-qz1qljealousy.
@@JohnDoe-qz1qlBecause his success comes from paying lots of actual smart people. But he portrays himself as some kind of tech genius. When in reality he’s just a semi-competent businessman.
Any billionaire arguing that any other party didn't work "hard-enough" to earn what they've been paid, is painfully unaware of their hypocrisy.
He needs to abuse us because he needs to pay off the spending spree of 90 million dollars on lawyers that showed up on his bill 10 minutes before taking over the company. I'm not really sure what's going on but it feels like there are a lotta Musk haters without considering what is going on. I think people are already biased to begin with.
I'm just saying if you hate on rich people without taking out the even more scummier stay rich schemes.... you're also being kinda hypocritically blind.
Maybe "LeagleEagle" has personal reasons for taking on the lawyers side as well.
Especially when you hear about how he's not paying rent for Twitter
Especially since it started with a handful of blood diamonds
i would agree with you for pretty much any billionaire except musk. the dude is litterally known to be a workaholic and for knowing nearly every small detail about anything is business is involved with. i am not saying he outright knows everything in his business but just that he knows an absurdly high amount about stuff to be able to have technical discussion with a wide range of specialist.
@@theprettypetard2524 he's not a workaholic lmao. That's literally just PR
A guy that sacks 25% of the staff deserves all that comes his way, he could care less about their family’s. These ppl think they can do whatever they like.
He was right though, Twitter never should have hired them to begin with. Twitter was in disasterous financial shape when he initially took over. He had to quickly cut as much as possible, or it would have risked everyone. Most of those jobs were competitive tech sector careers, and those employees were almost certainly better off within corporations that need and value their expertise. Twitter, obviously, didn't.
More like 85% now.
Went from 7000+ to 1300.
@@belka8618
For such a bare bones service, he most probably has room to make further cuts. He has even cut the number of letters in the name and replaced it with one at this point.
@@GeorgeVCohea-dw7ou
Realistically, he proved very quickly how much those employees were needed. The stability of Twitter has dropped to astonishingly low levels
@@haxie4516
Yeah, Twitter has seemingly fallen off a cliff to nonexistence. The only solution is obviously more employees.
Hilarious that he spent 44 billion dollars and now he's desperate for literally less than .2% of that amount of money...
I still think it's hilarious. Musk had two options to avoid all this to begin with: Either A) Just buy Twitter, or B) Just don't buy Twitter. But he had to go and make a spectacle of it, rushed in without thinking, and was surprised when he got tripped up by his ego, thinking it was all in the bag before realizing the bag's contents was just a bunch of lead dumbbells.
Lmfao even some dumbbells have more value atp, weights cost a fortune but at least they bring you value somehow 🥴Nice to finally see some consequences of Elon's own hubris for a change. It's normally only innocent people who get burned by his actions.
Well, from what I understand, he didn't want to buy twitter. That's the whole reason why all this stuff happened. He basically went to the store, put a snickers bar into a checkout machine, and then realized that he was about to pay $50 for said snickers bar. He tried to back out of the transaction, but there is no cancel button, and thus obligated to pay the $50.
@cyborgstan This wasn't a snack run. He signed and submitted legal documents.
I do think he got screwed by the deal, but he was the one who made it, flaring trumpets with every legal motion.
@@theSleepyLampa 44b snack bar, classic blunder
He tried playing dirty pool by trying to change the terms of the agreement AFTER he agreed to it. I really do not think he is the genius he and his acolytes believe he is.
I've experienced buyer's remorse a few times. But suing the lawyers for forcing you to buy the thing you tried to buy... holy shit.
That ain't 'buyer's remorse'. That's 'public fool's cope'. When you're a billionaire. And a fool.
that's not why he's suing them lmao did you even listen?
Well, he’s suing them because he believes they got paid too much. Now, when you consider the amount of value they delivered to the shareholders, their compensation was just a drop in the bucket.
Imagine you're buying a safe advertised as having X value inside. Now take 90,000,000 out of the safe during the sale. You're still fine with paying the same price for the safe?
Elon tried to get a discount on a discount and ended up paying extra.
When I do an impulse buy, it usually involves something that costs about $10 on Amazon that I later realize I really did not need. I've never spent $44B on an impulse buy.
Finally - after watching this channel for years we finally get to the good stuff - lawyers' remuneration in civil litigation. As a person who works exclusively in fee disputes in the UK, it's interesting to see how things are done in the US.
I'm glad we live in a time where the idiocy of incomprehensibly rich people is on full display so as to dispel any notion that any of these people got where they are through anything other than exploitation.
Well said 👏 indeed
Yup. He sure does do everything in his power to dispel the myth of meritocracy. Just be born into apartheid emerald mine money and you can do any dumb thing that enters your mind.
Yet there is still a huge chunk of people who stan for them.
That, and insanely wealthy parents.
@WhamBang don’t forget financial privilege! You can only exploit so many people if you don’t have millionaire parents.
I swear musk is like a kid being forced to clean the room he messed up and throwing a tantrum because of it
And then, he has to clean up the mess from his own tantrum and still he is upset at everyone else for it 🤣
Saying musk is like a child does a terrible disservice to all non adults
made me laugh out loud. you’re absolutely right lmao
Yeah the room costs 44 billion
I can imagine that the many people he so famously "stiffed" previously, looked at this latest deal of his and quietly smiled to themselves and said "aint Karma great" .
My favorite part of this is that Elon is suing the law firm retained by the company that was forced to hire a law firm because Elon wasn't willing to do what he said.
Elon: i'm going to buy twitter, not for profit, but for preserving free speech
Elon: i don't want to buy twitter, it's full of bots
Elon: they forced me to buy twitter, now i have to make it profitable (went horribly wrong)
Elon: I'm suing that guy who forced me to buy Twitter
You left out all the ways he has restricted free speech on Twitter since he bought it. 😅
😂😂😂 exactly
I think you missed the first few steps :
-I'm going to speculate on Twitter stock.
-I'll tell everyone I'm buying it.
-I'll back out at the last minute, when I finally decide that company is beneath me.
-Oops, now I actually have to do what I said I'd do.. are there any books on how to do that? Yikes...
And, now, your story can begin.
@@macmcleod1188 You pretending that hosting a platform for free speech is easy, is just hilarious. Pretending that free speech means you have a right to use someone else's software in any way you want, also hilarious.
If you want free speech, walk outside and yell in your town square. See how people react if you say the same things you post on the internet.
@@Gotlyfe elon himself said he's a "free speech absolutist". Letting people speak freely is actually easier than selectively censoring stuffs
You know you're in good shape when you're suing a law firm. Those guys probably don't know the law.
😂 A top notch, bad ass M& A law firm at that too. Guess musk wants to loose more of this million s🤣
A true gentleman like Musk would never go after easy targets! He will sue Big Law into oblivion, or else lose millions trying!
Taking all bets.
you'd be surprised.. but hes right, one of the douches will lose. pass the popcorn.
This is a perfect example of the meme where a guy sticks a stick in his own bike wheel and then blames someone else
“At least one of these parties is gonna lose” I love that you did a happy little wiggle while saying it
I wish Unicef could have sued him for promising them enough money to end human hunger on earth for a century and making them work to plan out years of operations funded by him and then basically saying "just kidding, lol"
Another example that the super rich aren't our friends :) They don't care about normal people, even if they can. They just want more and more
Yeah, that one ... That one was just absolutely needlessly cruel. Which, it IS the muskrat, so... Idk
Also it was less expensive than twitter lol
"We wouldnt wanna feed the animals now would we?" - elon musk
Unilateral promises aren't generally enforceable. They can be in Scotland though so be careful what promises you make in haggis land.
I love how his obsession with the childish 420 reference ($54.20 per share) cost him billions of dollars in the Twitter buy.
Just like I love how they used the same 420 reference to launch SpaceX's Starship without preparing the ramp properly. Rushing to reach the "funny" date, costing them more millions and months of delays.
What a child.
Would you like to talk about how much is wasted by the American government, or really any other silicon valley company? All for not even a meme?
Learn to have a little fun instead of being the guy nobody wants at a party.
@@TheCarpenterUnion ok, but given Elmo also wastes that amount, additional waste of so much time, money and with a disregard for safety... It's not worth it for a 420 meme. Especially not when it comes with the cost of human life.
@@TheCarpenterUnion I cannot imagine anyone I'd want less at a party than 50 year old using 20 year old memes and thinking he's clever.
I’m surprised he doesn’t schedule more stunts on June 9th
A child who puts actual rockets and people in space, internet everywhere (starlink), EVs on the street (which started the current EV craze) and understands how the financial and economic system works. And buying twitter has a major impact to any future politics because of the changes in policies and buying the thing makes it possible to investigate and publish facts legally.
Honestly, I don’t care that Elon lost money, he’s one of if not the richest man in the world. Nobody should be THAT rich.
And he's rich from IP theft and apartheid... then tax subsidising, stiffing, and no follow through in hundreds of millions, that compoundly grew, people throwing money at him much more than him having merit.
Lol what you mean? It's thru his equity stakes in companies. Hes not very liquid though
Well yeah... you shouldn't care about him losing money even if he wasn't rich.
It would have been nice if he paid his staff better instead of hemorrhaging money all over Twitter to soothe his ego, though.
The only thing I regret is that this money just went to other overly-paid parasites.
Wonderful insight into lawyer morality. If you "align the interests of the law firm with those of the client" they won't cheat so badly.
The irony of Elon "emerald mine inheritance" Musk complaining about someone being paid too much for the low amount of work they did is astounding...
The irony is that Musk is complaining about the work he did not see if all work always leads to results. The law firm was working under the premise that they would have to do whatever legally it took to force Musk to buy. It is the same logic people use when complaining about having to pay a deposit for services they cancelled. It is as if they do not think companies spent no time and money to prepare to fulfill a contract. "I know I ordered a special cake and cancelled a day before but who knew the baker would need to buy ingredients for my special cake? It was unfair for them to keep the deposit."
Since 2015 Elon Musk's net worth has gone up by an average of $15.6 milllion dollars _every fifteen minutes._ The idea of him complaining about some of the best lawyers in the world being paid collectively that much for "only a few months of work" is ridiculous.
@@Mr_Wallet crazy lie
@@xavierb9061 you're calling basic maths a lie?
Good lord you truly are too far gone if you're calling maths a lie lmao
@@haxie4516 Basic maths indeed shows its a crazy lie... Have you tried working it out? Every 15 minutes he made 15M since 2015? That's 4 trillion... He's not worth nearly that much.
the irony of musk saying “that’s too much money for only a few months of work” is insane
Underrated point
The only way that point could fly in court is if he turns around and immediately disperses 99% of his money and future income into salaries of his employees. 🤣
What a hot dog 🌭
He barely works in a few months, it's not even a good comparison.
Absolutely incredible 😂
Honestly this reminds me of the hotel my mom works at.
The guy who bought it owned a small 12 bedroom place in a small area, then bought a 150 room hotel without doing any due diligence.
He walked in after buying it, found out how much it costs to do upkeep, filled his trousers, and started slashing left and right to try and get his money back.
Less then 10 months after buying it,
He’s alreadh trying to sell it. But the only way he’ll do that is if he finds a buyer like him
This is why announcing major financial decisions on social media is a bad idea. Especially if you havent talked to the seller or (im assuming) your accountant first.
"This was insane, how much you paid to thwart me. My case is SO stupid and nonsensical that any intern could have won the case. I'm going to sue for Twitter's overreaction to the thing I personally caused."
Perfect
Except they didn't pay to thwart him. - Sounded to me like he was already thwarted, with the lawyers' work having been "suspended in anticipation of the close".
So there was no reason to pay more, from the company's point of view. Just for the board members personally, with regard to future dealings with their lawyer friends.
Paid out of Twitter's pocket which they no longer cared about.
@@ViolosD2I considering Elon's documented erratic behaviour, keeping lawyers on call until the very end seems a necessity
@@ViolosD2I that isn't how lawyers work.
@@ViolosD2I Maybe some guy on the board has a stake in those 90 millions. It wouldn't surprise me if some members of the boards got something back for being so generous with the law firm.
This is what happens when the marginal tax rate is too low. Billionaires clog the courts with nonsense.
Inb4 capitalist simps get big mad about the truth
A judge can issue penalties to someone presenting a frivolous law suit and wasting the court's time. Both Musk and tRump need to be punished for this.
As opposed to all the ambulance chasers who file frivolous shake downs on the behalf of idiots?
@@obsidianjane4413 Uh yes, instead of. These Elon type cases take magnitudes of order more time and effort than shake downs - which if you watch this channel, aren't common since lawyers get sanctioned if they do.
The fee Twitter paid was 1/500 or 0,2% from that $44 bil Elon paid , its a small sum .
E-Lawn set a match to Twitter's value and has burned down 2/3rds of it thus far. That's about 29.3 billion dollars. Great work
In less than a year.
If Musk was a bad supervillain, he would be "The Tantrumizer!"
Worth mentioning is also that Musks weedjoke (buying the shares for 54.20 instead of 54 dollars) cost about 150m so if a joke is worth that much to him, rewarding a law firm for ~60% of that feels like a weird thing to argue haha
Elon has to face the consequences of his actions and is trying to get out of it? SHOCKED! Shocked I tell you.
Trying to get out by diving even deeper into these consequences.
I have been assured that Consequences are only for "the little people"
Well not that shocked.
@@richardgilson3512 Elon probably can't even spell consequences. It's a foreign concept to him. lol
If a billion dollar law firm held you accountable for every single thing you say, having it enforced would be less of "consequences" and more of "cruel and unusual punishment for no real fault".
Tesla routinely turns off options on their cars when they are sold from one party to another. They say that the options were sold to the original owner and not the new owner, so the new owner has to buy them again if they want them. So please Elon, tell me about unconscionable contracts?
Wait a minute-
Didn't Elon have lawyers checking out the contract BEFORE he wrote the check?
He certainly can afford top level lawyers to check out contracts before he signs them, so he sueing the wrong lawyers! He needs to sue his contract lawyers for giving him bad advice!
Elon doesn't pay his rent on the building Twitter is in. Do you think he would pay for lawyers? Sounds like Trump.
Moral of the story: don't sue lawyers of your frivolous lawsuit.
I think the even deeper moral here is : Don't be Elon Musk. Nor like him. Nor anything even *remotely* close to being like him. That should be a meme now.
@@rigelb9025He's rich, therefore everything he does is right.. right?? Right?! 😂
@@margodphd He can MAKE it right with the power of cash! 🤑
@@DarkOmegaMK2nope, money isnt magic lmao
My life sucks, but at least I'm not Elon
"$18M for only a few months of works", says the person who had hundreds of billions of dollars, physically impossible to have worked long enough to obtain.
He doesn't have hundreds of billions of dollars in cash, his money is on Tesla stock, which is completely inflated price, way above its instinct value. So you could blame the market and people for that instead of him
The fact that he upped the asking price to $54.20 a share, only because he wanted 4.20 to be in the price shows he a moron and the judge can look at that a quip how someone can be so concerned with tens of millions when he spent an extra 3.5 billion dollar the be "cool"
@@fos1451 The price is inflated because of the lies and grifts he has been pulling off.
@@fos1451
Nice try. Musk hasn't worked for anything. He also lied about everything.
@@fos1451Doesn't matter. He still exploited workers to get his companies and himself so far and he can still access that money through scheduled sell-offs or low interest loans.
Though it's not wrong that there's some useful idiots out there, but there always will be.
7:30 That was a nice and smooth transition! 👍
Maybe I missed it, but did the Wachtell law firm's contract ever describe that they would be due success fees? It sounded like they were only going to bill hourly.
If it didn't, it just sounds like "Hey, this new fee that we never discussed? Yeah you owe us that now".
If it is the case that this law firm just *invented* a new fee after the fact, that does seem inappropriate.
Considering this law firm is supposedly the best of the best, wouldn't it make more sense that there is some sort of document detailing the success fees, but it just hasn't been released yet? That makes infinitely more sense than the firm going "lol here's a super secret bill k thx bye"
Yeah but the time to dispute it is when you get the invoice, before you pay it. Not a year after you paid it 😄
Fun fact: Elon Musk didn't create Tesla, Martin Eberhard and Marc Tarpenning did. Elon just bought it and kicked them out.
*Edit*
The original "master plan" wasn't Elon's idea either. That was Martin Eberhard. The design for the S3XY cars (the only cars they've actually finished) came from the platform Martin and Marc created.
If South African Apartheid hadn't made "The Flying Haldemans" (Elon's maternal grandparents) rich, we'd have no idea who Elon Musk was.
That's entirely true but you should also say that they hadn't manufactured one single roadster when that happened. Musk made it what it is today, they were long gone when S.E.X.Y. and CBRTRK happened.
@@baal1969has a single cybertruck made it into consumer hands? if elon were to resign today and the cybertruck comes out next year, would you attribute it to him? i am fully certain you would (the reddit fanboy you are), and that would certainly be wholly disingenuous.
@@heat_death7 Of course I would, the same way I attribute the idea and design of the Roadster to Eberhard and Tarpenning. Not a fanboy either but I do like complete and accurate information. Seems to be common these days to hate based on incomplete information... My mention of the Roadster in my original reply is just to point out the fact that Today's Tesla happened a long time after they left.
@@baal1969 and it happened due to the engineers, not due to the conman who owns the company.
@@haxie4516 Almost every company's success is due to the vision of its leaders and the employees fulfilling it. Musk is more hands on than most CEOs but he still needs thousands of skilled employees to make it happen. I agree with you but for the conman part, I don't believe it is the case. Most companies that he is involved with is are creating a big impact in the sector they operate in. Conman don't revolutionize industries... They con with nothing material to show for it.
funny how billionaires cant handle it when they actually have to bear the consequences for their own actions for once and immediately go the 'im gonna sue everyone' route
It's all they know
@@Kinzokugia they just inherently feel invincible because they never had to bear any actual responsibility, which was clearly shown with the oceangate submarine situation - no sane person would undergo such adventure, but if youre a billionaire and all you ever did was throw money at problems, it makes much more sense
Well if you had a chance to get back $44 billion, you’d probably try to weasel your way out of it too.
i'm no legal expert, but taking to court a law firm (this is what they do for a living) that already spanked you once seems like bad legal advice. I wonder how much he will get billed this time around.
That’s not what happened here. Don’t be dense
A nepotism baby screaming, "That's not fair!" is the height of dark comedy.
My hats off to Wachtell for hosing one of the most repelling personalities in the world.
To a narcissist everything is someone else's fault. Incapable of taking responsibility for own decisions.
This!! He is a narcissist
Elon deserves every bit of this. He ran his mouth, he played a game, real people spent real money facilitating his purchase, only for him to be like "actually JK".
I am glad to see this idiot held accountable for running his mouth.
I delted twitter and started a threads
No one can say Go Woke Go Broke ever again. This guy went broker than anyone by leaning into hard Right conspiracy
@@futurefox635 Isn't he the richest man in the world?
@@Edax_Royeaux lol here we go.
the consequences of his own actions.
i really like that you put the sponsor segment on the end, thank you good practice!
So, ultimately, Elon's argument is "they maliciously paid a bill I didn't intend to honor"?
If this has a chance to fly, I'll be amazed again at how twisted the US legal system is.
It will be funny when the old Twitter owners are asked to testify and they basically say, "We forced Musk to overpay, and our lawyers got us the money. That's why we paid them a handsome bonus."
They're now rich and happy and watching Musk flail.
I'm sure they're quaking in their boots... their gold-plated calf leather boots which they use to hike through their forest of money.
"Overpay" is an opinion
@@audience7264 Not in regards to Twitter
More like "We figured we'd use the chance to spend what is now Elon's money to gain favor with this law firm for the future. And spite him."
@@audience7264It is the opinion of former Twitter owners, that's why they accepted the offer in the first place.
"Musk then tried to back out of the deal for reasons related to him being an idiot" is legendary, I love this channel
That one's gonna rustle some jimmies
@@carlosmoreira8835My boss is an Elon simp so I can only imagine the rage he'd be having over this video lmao
Anyone who isn’t an idiot saw that he was paying way too much for Twitter.
@@snickerdoooodle Send him a link.
@@snickerdoooodle Musk Rats are the worst.
HAHAHAHAHAHA...
His ego and the way he runs businesses got him into this mess... Had he just kept his mouth shut, instead of spewing BS about buying twitter... or had after buying twitter, listened to experts about how to run it... OR, had he just let other people run it, with a marketing group able to monetize it.. OR just stopped being a putz... then things would have worked out better.
The response to this lawsuit should be : "Your honor, our ego-maniac client put himself into this position he finds himself, we did our best to extricate him, however he kept digging himself into a deeper hole."
That law firm already beat him once and they're going for a second time lmaoo
Me, a recent Law Graduate: "Any consideration, yep. Even as small as a peppercorn-"
Devin: "All the lawyers watching this video are probably shouting 'peppercorn' to the screen."
Me: 😲
What about half a peppercorn
@@MushookieMani don’t know why this comment is so funny to me but it is
If I ever sleep with a lawyer, "peppercorn" will be my safe word.
@@davidbrockmeier9538 I know there's a joke about "as small as a peppercorn" in there somewhere...
Congrats. You've made it.
Imagine suing the people who forced you to follow contract law.
14:41 LMAO when reputation precedes the 'genius'.
Very funny that he simultaneously claims that buying twitter was a big brain genius move on his part and is also using everything legally available to him to get out of it
Well what do you expect. That's called ''Being backed into a corner, and mindlessly flailing in any direction you can until you finally manage to wiggle out of it. In public''.
And his fans still think he's a genius...
@@rigelb9025 me, with my neck in a guillotine: “ah ha, just as I planned. My enemies are right where I want them.”
i mean buying twitter was a big brain genius move... it allowed him to successfully sabotage one of the biggest players in online media and turning it into a propaganda machine for his beliefs.
He's just hit a bit of a snag with the last part of his genius plan... getting out of having to lose his personal fortune by dropping its carcass in someone else's hands.
@@JohnLemieux6D chess!
Something tells me if you can afford to even *_consider_* buying a $44 BILLION company, very few people can actually “force” you to do anything you don’t want to.
... and like Citizen Kane can probably afford to operate at a loss until Twitter no longer amuses him.
He bought Twitter using a leveraged buyout.
From what I've read, nearly a third of it is in loans.
@@Thundermaceaus Loans don't mean the same thing to a rich person as they do to us normies. Almost everything a rich person does is paid for on loan - its actually cheaper for them to cover the interest than it is to spend their own money.
Remember the vast majority of a rich person's wealth isn't in a bank account, its in real estate or stocks or other assets that are usually expensive and sometimes outright difficult to liquidate on demand, but function perfectly well as collateral. The actual bank balance (at least in accounts that can plausibly be traced to them :P) is typically only in the hundreds of thousands to millions. Still well more than the rest of us are ever like to see, but a tiny fraction of their overall wealth.
Once a agreement to buy a company goes past a certain point the buyer is stuck with it, that is what happened to Elon. He took the whole thing further than he wanted and was obliged to finish what he started. He was only forced to buy twitter because twitter could have sued him.
But TBH Elon would have lost less if he just let Twitter sue him for not buying it in the first place.
Tell it to the SEC
I think Elon Musk does deserve a settlement in this case. Not going backsies on buying Twitter or getting any money back. That is for sure. However, justice should be served by giving Elon a private performance of the world's smallest violin.
I'd do it for free, but I can't find mine. I think it fell in a crack in the floor!
"I think Elon *X* does deserve a settlement in this case."
FTFY
Devin, you should occasionally do follow-ups on some of your videos to fill us in on what happened since.
That part about consideration is additionally funny, because it means Musk is going to have to publicly claim that he was so entirely cornered by Wachtell that any additional advice after the case was settled would have been worthless, because there was absolutely no possible way he could have gotten out of it at that point. His entire case will have to be, "I am and always have been a massive idiot, and there is no possible way it costs that much to humiliate someone like me in court."
Especially, when he continually humiliates himself for free‼️🤣
"Buying Twitter might be the worst thing to happen to Elon Musk..."
Incidentally, it was also the worst thing to happen to Twitter...
"Burn!" 😀
Bad all around
Engineers should stick to engineering
Which makes it the best thing to happen to everyone else.
It was the best thing ever for Twitter shareholders who got a huge gift
@@sulljoh1 he isnt an engineer .... he is a rich spoiled brat that HIRED engineers to do all the work for him
Thank you. I know very little about the law and I love your videos. They clarify brilliantly.
"Elon has a long history of stiffing people he owes money to."
Y'know, a few years back I said Musk was basically the Silicon Valley version of Trump, and the more you learn about the man, the more and more those similarities are just slapping you in the face.
And by the way, no one should be surpised about 'that'. I mean, it is called ''Silly Con'' Valley, after all.
Trump and Elon are 100 times better than the Hook and the Pedo that half the country elected. Terribly silly to cast that vote and speak at all about people. Clearly half this country is oblivious to people and their characteristics and nuances.
Atleast trump is funny, Musk is incredibly bad at comedy and just reposts bad memes
@@deeznoots6241 Musk desperately wants to be an epic poster and that pursuit has cost him literal billions of dollars.