Landlords care about how their buildings show, especially in a case like this where they may have to find new tenants before the lease ends. So even though it's an immature joke on Elon's part, it's embarrassing for the landlord. It sends the message "Tenants can walk all over me and put whatever they want on the building. I can't enforce my own standards."
Yeah. Seems silly. If I was the LL, I’d remove their signage from the common area while they are in default. 🤷♂️ (Assuming the lease provides for that, of course. In self-storage (great category), you can overlock a unit when the tenant is just a few days late, and my state gives you a lien on the possessions from the day they are placed in the unit.)
@@andyleo8418 He was not allowed to remove the W so he painted it white, blending in with the background. He did it because he can. Twitter is now "X Corp".
And poor people will say…. good job, his a genius. But if it was a poor Mexican dude who didn’t pay taxes, the same poor people would attack him. Hypocrisy
@@Koen75NL- Well Elon Wanted Twitter Offices to be Officially Evicted. That would forfeit the need to pay. So yes you’re are exactly like Elon Musk. It’s the "What’s next" that makes you different. You can always mooch on back to your friends or parents. My Business is Real Estate, so yeah, it sucks that tenants forfeit rent payment, but having big name companies like Twitter/X or Tesla on your premises is a very very Big Marketing achievement, and we can ask for really Premium Rental Fee from incoming tenants that are many times normal price. So they actually earn many times more because Twitter was there. Yes, they’ll just settle it out of court with a comfortable deal, then Rent out the same Space at a higher rate than what they charge on Twitter with a more “Secure Revised" Contract and Payment procedures. So I really don’t fell sorry to those folks.
Honestly, it's occurring at the very very top of this country, so this is just business as usual. If you want a safe example, the 2008 GM buyout which moved the unions to the front of the line and shafted the bondholders. Centuries of legal precedence dictate that they WERE the first in line, but now bonds are about as safe as stocks since the government can twist arms and decide who gets first dibs on the carcass.
@@farrel_ra the bank will take the loss if they LL stops paying the mortgage. In the case of Twitter probably the LL takes the loss initially. But if there's too many loses on the LL then they'll give it back to the bank and the bank will take the losses.
It's because unfortunately the middle class are the biggest bootlickers. "The law" avoids the upper class because they have good lawyers and must tread more carefully with the lower class because they have a chance to be shot back at but a middle class person will arrest themselves and March themselves right through the door of their own cell no questions asked. Don't be an easy target.
honestly anyone can do this if their rent is higher than surrounding houses, apartments and such. Because you could in a sense counter to start paying your rent again but at surrounding rates or he could risk losing a paying customer if he already has empty units. But it honestly would only work in a situation if housing was higher than demand, don't see that happening anytime soon. But the commercial side has been taking a beating since covid, especially with so many companies going to remote work from home. So most big companies are sitting on large amounts of unrented units.
@Popcorn since you mentioned loans....I know that low income earners with good credit who could usually get a bank loan now can't get a loan because of the cost of covid (living)
As a conservative, I find it frustrating when conservatives complain about poor people not paying rent during COVID but praise Elon as a smart businessman when he doesn’t pay millions in rent. Both should pay their fucking rent. Keep it consistent.
Agreed, I’m also a conservative and find it disgusting that people are glorified for abandoning their contractual obligations just because they’re on “our side”.
Private tenants renting houses very rarely get to negotiate rent. Businesses especially the size of twitter, do get to negotiate. Not paying rent to renegotiate terms might be a little shady, but its the only way to open the talks with the landlord, no landlord is going to renegotiate rent otherwise if the bill gets paid on time.
The difference is: poor people not paying their rent are doing so mostly likely because they have no other option. Elon is CHOOSING not to pay his rent because he is weighing all of his other possible options against that decision. In short: Elon has something else of value to offer on the table, poor people do not. Where you stand on that morally and ethically is up to you, I'm simply explaining the landscape.
It really depends on which landlords you're talking about. I'm conservative, but I don't see all landlords as the same. Some are desperate to keep market rates high because they overvalue their properties, and that hurts everybody looking to rent. Plus, I also don't really see it as a problem when the risk to owning property actually plays out. Owning property means you own the liabilities too, and if you couldn't balance those liabilities out, that's your problem. Consistency doesn't mean I have to defend the upside for everybody in the same class. I need the downsides to work their way too; otherwise, I'm trying to conserve a magical world where consequences don't exist, which is what progressives do.
Not quite the same. One, Elon Bought the business. Squatters just enter an unoccupied building and call it theirs! Elon had blood in the game. Squatters have NO CLAIM whatsoever!
See, the issue is that you don't owe enough money yet. When you run up Musk, Trump, airline, etc. level debt and bankruptcies, THEN you become "too big to fail," and you get the simps making videos about your genius.
As a contractor, the people with less money were ready to pay when the job was complete. The ones with a lot of money often tried to negotiate after the job was done or wanted some type of deal.
As a once young worker at a graveyard, I saw contractors who agreed to put in a sewer in order to prevent fields from flooding put the sewer IN the field instead of ON the street/the lowest point. The fields still flood. So fuck contractors and land lords
@@a.m.mcaloon9874 The manhole drain was ABOVE the street and ON THE GRASS instead of on the street. OBVIOUSLY runoff water from higher elevations can't drain into it if it's above the street, genius.
So a big FU to other people is this man’s strategy. What an amazing human being - who’s first to sign up for his Mars colony, where he will be the ultimate authority?
Richest man in the world scams a landlord out of contractually agreed rent. If everyone in the economy acted like this genius we’d be a third world nation.
Morality is not what people crack it up to be. Most people given the chance will take what they can. Look at people selling cars new and used even private sales. Buyer beware.
@@linsy1971 The dumbest statement on the internet. You think it was not known to him when he acquired the company? So he signed a contract agreeing to the rent. You need to stay away from business. You won't do too good.
Problem is everyone in the economy cant afford to do this as he is one of the richest people in the world and can afford the best lawyers money can buy and even the judge would side with elon and whats a few hundred million to a multi billionaire. We poor folk cant compete
Since when do they get evicted? Evictions were outlawed in 2020/21. Reinstated earlier this year, the backlog is expected to take over 5 years to resolve. Musk bought twitter in 2022 and is already in court. I think we can all agree it took far less time for his landlords to get their day in court than the landlords of your average scumbag living in residential housing rent free. At the end of the day, sign a rental agreement, adhere to the rental agreement or face the consequences. This goes for Musk as much as anyone else. I rent, i pay weekly, if i stop paying i wouldnt bitch about having a poor credit rating as a result
Business defaulting is different than a person defaulting. If a person creates a small company and defaults, the company will file bankruptcy and companies credit history will get destroyed but the person will not be affected that much.
@@regularhuman95 i think twitter/X filing for bankruptcy would be way less likely than your average renter. The current valuation is 19 billion, and the outstanding rent is 7 million. When a renter with assets valued at $190,000 and files for bankruptcy based on $700 of outstanding rent, the bankruptcy arguement would be legitimate.
@@GriiffixPVPyes we will, rent is only getting more and more expensive in san francisco because all the tech companies left it a shell of what it used to be
@@GriiffixPVPYes we do. That's why inflation is double-digit and there's no money for anyone to borrow. If you're looking for lazy foreign tax dodgers to blame, Musk is in the world's top three.
He’s on a slow burn to destruction and I’m enjoying every minute of it. Elon Musk is a great litmus test. If I meet someone and they think he’s a genius, I know I’m dealing with a muppet.
@@youdontknowwhoiam2449 You have a contract for which you expect the counterparty to fulfill its contractual obligations. If you are offering space at above market prices, then you can expect a correction to have that space be leased
@@GUNNER67akaKelt I hate tenants who skip out in their rent and especially the people who think these tenants are geniuses for doing so. Next time you do your job, have your client then tell you that you wouldn't be paid because the amount you both agreed to in the contract is now too high for them. At that time, I hope you sincerely call them a genius and then agree to take whatever they are willing to pay.
@@Rob_F8F Did Elon sign those contracts? Or did the former owners? Should he be bound by what someone else not associated with him agreed to? I've seen property owners raise the rent when they get new tenants. Should the property owner have to go by the lease signed by the previous renters? Yes, you should pay what *YOU* agreed to pay. I agree.
Elon is so smart. Because twitter went from worth 44$ billion to being so close to bankruptcy that if a judgement came for 6 months of rent they would go under. Ficking genius
@@ricomajestic …….lets ignore the fact that teslas economic evaluation is way past any standard metric (aka instead of our company being worth 5-20x revenue based on industry they used stuff like 100-1000x). How do you think you sell 411 million shares of something without significantly reducing the value of said thing? Unless he finds another richest person (on paper has zero cash flow) who is also stupid enough to buy this he will lower the value of Tesla stock significantly. Considering 40% of that Tesla wealth is based on options at 100X exposure simply selling Tesla stock would actually make him more poor than the cash he gets but at least he would finally be able to pay his bills
@@Arutima yes just suckle from Elon's bossom. He will personally save you a spot by his side. He most definitely cares about your existence, and would never screw you over for twenty three cents.
@@andrewscott8892 What difference does it make if your current tenant isn't paying anything? You kick him out both for breach of contract and as a matter of ethics.
@@nickrails what difference does it make, if you don't have someone that has the ability and/or willingness to rent that same space in the future then your stuck with an empty building that is costing you x number of dollars monthly to maintain. And we are talking about a huge space meaning a very limited pool of potential tenants and in San Francisco you might want to do some research on the commercial real estate market there at the moment its not very healthy especially near the tenderloin and downtown
@@andrewscott8892 The difference is legal and ethical. You can't just allow contracts to be broken because its inconvenient for the tenant to pay rent. In your scenario, nit only are you having to maintain the building for zero return but its actually subject to wear and tear - for zero return. Ethics and principles may not mean much to some people, but they are the bedrock of a functioning society. And because people act unethically, that's why there is civil and criminal law to enforce ethical standards. Simply stepping out of those because you're so wealthy you er...can't afford to pay your rent....is not acceptable.
@@kiimcardashian8093Elon has been operating American businesses for 30 years. He knows how American contract law worked, and he *benefited* from those same laws as he operated his businesses and solicited billions from investors. You may not understand under what circumstances an offer becomes a binding contract, but Elon sure does, and his offer to Twitter was binding as soon as it was accepted. Likewise, Elon knows that the “Hold-Up Game” is illegal, and that he is bound to honor his leases the same as any other legally enforceable contract.
Elon could pay all the taxes you want to saddle him with. Just add a millon to each bid submitted to the US government for launching Falcon 9s and he will come out way ahead. NASA stated SpaceX save the US military $40 Billion in launch costs. Do you really want to niggle about taxes?
@@Bialy_1 Criminals protect themselves from others so they can profit from their actions going bankrupt although legal is an action that protect those that had hard times but to use it 7 times is or should be criminal ask those people that got stuck without pay because of the abuse.
@@Bialy_1 Right so it's perfectly legal if you're rich. So glad we live under two different systems, one where working class people are ruthlessly punished for not having enough money for rent and bills, and another where billionaires are called geniuses for choosing not to pay rent and bills, and celebrated for it.
The landlord should have changed the locks & started removing all the furniture to the sidewalks. Then post a giant sign over the Twitter sign saying “NOW AVAILABLE” For those who say that’s illegal fine… sue me
We literally voted a scammer into the White House, he even tried to scam us out from an election he lost, and was helped by the majority of republicans to fulfill that scam, Rosanne Barr believes he is still commander in chief currently, it’s bonkers.
@@TheEjsc committing a crime with the help of lawyers is still a crime, you can’t blame it on the lawyers when you ordered them to do so, and when you IGNORED all the other lawyers who said this is illegal, you definitely can’t call a Secretary of State and demand he find you 11,800 votes out of thin air, and you definitely can’t tell an angry mob that they all need to fight and fight like hell or they won’t have a country anymore, meet with violent militants the day before then throw in the word peacefully to claim you didn’t want violence, justifying this says a lot about you!!!
He will be evicted. I know commercial real estate everything takes about 10x slower than residential but that is his plan to save costs since Twitter runs in the cloud there is no need for office space
U mean in court/with a lien/in the street. Much,much much worse than jail , yea??!! Why America home of the free (rich)! 2 systems of eco omy & justice!!!!❤
Its not theft at all, its an unpaid bill, its a civil issue not a criminal one. The steps to get the bill paid like going to court is long before it can be called theft. If you refuse to pay a bill after a court order, then its still not theft, they just get the court to bailif your assets.
also, the landlords refused to let him use the empty parts of the building, that he was paying for, to use for the homeless. He said he wanted to let them move in and put up their tents or whatever to have 'housing' and the landlords said no.
That opens up squatters rights issues and other legal problems. The owners do have a right to deny people if they’re not there for the intended purposes of the contract. Musk is doing business, not opening a charity where the risk is largely on someone else and not himself. You can’t even do this with an apartment you’re renting as some leases have a limit or require all parties be included for liability reasons.
There’s zero chance he would actually do that. My money is on Elon being made a fool of over this Twitter HQ bs and then making up some fake story about how wonderful of a person he could be if these evil landlords would just let him
@@genericmainer, I’m sure you are absolutely correct. In any case, whether it be just an individual person, a small business, or a large corporation - no person or company should do that. It’s not only a deplorable act, but it’s bad business as well. If you worked for a big corporation, and you were in charge of doing business with him - full well knowing his business practices, would you take the risk?
@@genericmainer, I get it. I’m certainly not a fan of big corporate America and them buying our politicians to get tax legislation that benefits their own bottom line. Is it too late to withdraw my earlier statement? 😀
These are the little known facts to build wealth. Remember this is commercial not residential where your paying apartment rent. Commercial RE in SF has devalued substantially since Newsom was running the place into the ground BEFORE he became governor. Landlords are not going to reduce rent to a lower market price. Musk is a hardcore businessman !
Most companies do now own their own buildings. It’s not core to their business and depending on the size of the company is really just a distraction. Financially it means you are spending money not investing into your business but on owning property, which is likely a much lower return on capital than your core business. I hope this helps.
@@exteriorized SF is down due the pandemic and remote work not anything Newsome has done. Values were at an all time high in 2019, which is 8 years post Newsome being mayor.
One landlord has already defaulted, if the rest follow suit, the building goes up for sale, likely for a song. A holding of Musk’s or he himself squires the building for a fraction of its value, negotiates a settlement on the debt owed, he still makes bank.
@@Puppynutter123 the dude overpaid for Twitter more than double. Twitter has lost more than 70% of its revenue at the same time. How many buildings does he have to buy in order to pay back all that money? For the love of God, please stop simping for this man. Buying Twitter was a stupid business move. He isn't doing 7D chess moves.
@@the0ne809 mark my words, twitter will be bigger than Facebook. I don't know how Elon is going to pull another rabbit out of his hat. Sure, the odds are against him, but if I had to bet on someone to beat the odds out of all humans, my bet would definitely be on Elon. As a matter of fact, that's what I have done so far since 2013 and honestly I can't complain. You are talking about the guy who beat NASA and all the space agencies in the world, the guy who is revolutionizing transportation, who created and was able to mass produce vehicles that are to other brands what a smartphone was to a dumb phone back in the day. "Never underestimate the man of overestimates himself" -Franklin D. Roosevelt
I love it when Elon does things like this. Even though I don't fully like what he is doing, he is like any of us wanting to rebel against the stupid system we have to function in, but he has the money to actually do it.
So it’s okay for him to not pay rent for the building he’s using; while other landlords and business’ go under because he has so much money no one can do anything about it? You’re just as bad as he is supporting a criminal.
In the 80's a friend bought a house in West Sacramento that for some reason the neighborhood took a sudden down turn. Lots of crime and graffiti and empty squatted houses. Said friend left her boyfriend so she was stuck with the loan. She went to the bank with pictures of the neighborhood and told them she was going to default on the loan. Since the payments were now lesser than the going rents, she offered that the bf take over the loan (with no credit history) and take her name off the loan. They went for it.
@@stonem0013you have to admit though, the product has gotten better even though it has become less profitable. Many of the companies pulled out of advertising on the platform because they were convinced by their ad agencies that free speech was dangerous. So he took a big financial hit for it considering the platform is mostly supported by ads.
As a former tenant in this building, I can tell you the rent is extremely high and other tenants don't pay rent. Negotiations happen all the time. And they recapitalized this building for $800-900 million in about 2015 if I recall. There's plenty of room to negotiate.
@@joshuathomas5626, No, that was a lot of people realizing how pointless it was to keep showing up to a job that doesn't give two squirts about you and not wanting to commute anymore.
@@superoffended6737, Then stop moralizing about other things if you don't mind making other people pay your way just because it's part of the rules and then pretending you do so much for the country as you bilk it dry.
@@JacksonHoulihan Most of them could have realized they were not important way before then. All of the truly essential workers, like the wendys drive thru window worker, knew they were worthless way before the government said so. Could have just took their heads out of their butts and asked their community.
They make a valid point, the only downside to not paying rent it the hit to twitter's image and looking like deadbeats, but he already trashed their reputation, so that isn't worth anything.
So much for honoring a contract he signed in good faith. It's not lying, cheating or stealing and it's certainly not personal when you're hurting people and their businesses so you can put more money in your pocket.
That's called bad business. He's rich so he can do what he wants, but make no mistake. That is immoral and unethical. If you were the landlords you wouldn't be too happy.
of course not, but are we pretending that corporate landlords arent screwing everyone? Literally only someone lile Musk can afford to call them on their shit. Is he doing it for himself, of course, but if the result is a correction of the market, idgaf what it takes. At least thebman is consistent: he sold out of the private property market.
I actually realised/ did the same thing. I rented an office in 2020 and whilst my company was making no money I paid all my suppliers. As a result I lost a lot of money. Now I don’t pay my office rent and have racked up tons of debt. I will pay that back tiny amounts per week. If any of the people I owe money to take me to court I will go bankrupt and move abroad. Its actually pretty easy to do if you own no assets.
That's actually a really smart business move. They're not going to evict twitter, nobody else is going to pay that much rent and he can terminate a bad contract with the least amount of red tape possible. He really thought this through.
There's usual more than one company in the building and offices generally aren't individually fed, so you'd have to disconnect all of the buildings tenants. Good luck with making that hold up in court
@@nasacollector3676 Those laws apply only to residential tenants. Not to commercial tenants. Might want to familiarize yourself with the basic components of laws that you are going to criticize.
Bro did you not listen. Not saying Elon is the good guy but you have to play the system when you can't get whats right. What seems wrong isn't always face value.
It’s crazy that to acquire $1,000,000,000, you would have to work 40 hours a week for 47 years (18 to 65), not spend a single dollar on anything, not take any days off, and it would be absolutely possible, as long as your job paid you about $10,000 an hour
What would you pay for a database on all the Twitter followers (? Now imagine you have access to a super computer and are one of the richest people in the world .
Elon would only had to pay a $1 billion break-up fee, to walk away. That would be a hell of a lot cheaper to pay than $44 billion for an asset only worth less $10 billion. But you guys just like to keep thinking he’s a genius. @@salmonella6744
I do that also. But he wanted to make sure the SEE EYE AYE didnt outbid him... Remember when Eric Schmidt bought Google? He didnt do so because he wanted it, but rather because he was assigned to do so.
I absolutely love all the outrage going on in the comments section. I have never seen so many people in favor of the Establishment! None of these folks get this worked up when grandma is finally forced out of her house after a 2 year legal battle that finally evicted her!
In the UK they don’t even have to get to court; they just enforce CRAR via bailiffs and literally lock them out of the building. The only problem is the landlords don’t have a queue of potential alternative tenants
@@maalikserebryakov This is completely different to residential lettings; that has a LONG queue of people. CRAR - Commercial Rent Arrears Recovery is automatic when rent if overdue by 15 days. It doesn’t not apply to residential as a tenant can stay until a court order evicts them months later. Search commercial spaces to let, warehouse, offices, shops etc there are so many available right now.
not-payment of rent is one of the few reasons for a 3-day eviction (in California, at least). they shouldn't be suing for back rent. they should be suing to evict immediately.
Maybe Elon shouldn't have given us all those reasons to think it's true, like being a grimy sleazebag riding the coattails of other people's accomplishments
What sucks is that the landlord has a signed contract with terms for occupying the space. I would have evicted Twitter and sued them for missing rent for the time they occupied the property as services were rendered. Even if I as a landlord were to declare bankruptcy, I could surely find representation that would pursue the lawsuit as there is standing and breach of contract. Even if it went to settlement, I would be happy. Having said this, I like Elon a lot and don't blame him for doing what he did.
Wrong, anybody can negotiate with the banks and providers, you just need to ask them to review your accounts to find better deals. Not guaranteed but it works many times.
On what size scale are you stating this? More than 99% of people in the US make far more than the rest of the world. I am guessing you find that "different" somehow
@@Gravedigger933IE what dude just said. A two tiered justice system. One for people with little or no money and one for people with a lot of money. You pretty much agreed, just in different words.
What? Do you have any clue what your talking about? Apparently you don't know what that means, where did Elon get special treatment from the courts themselves?
Sorry Charlie, he knows the laws and the way they are constructed. If a person does, they win. If they don’t, they won’t. Simple as that. Do you think they do that so you can hate them? , or you just don’t like rich , happy, prosperous rich people.
Even if they could (not sure what their specific rights would be in any particular jurisdiction) that would mean no tenant and no guarantee of finding another at the same rate. That's why the video said it could bring the landlords to the negotiating table. They may be prepared to negotiate a lower rate for Twitter rather than risking having no tenant at all.
Why was the “W” being painted white an F You to the landlord?
I have the Same question
Landlords care about how their buildings show, especially in a case like this where they may have to find new tenants before the lease ends. So even though it's an immature joke on Elon's part, it's embarrassing for the landlord. It sends the message "Tenants can walk all over me and put whatever they want on the building. I can't enforce my own standards."
Yeah. Seems silly. If I was the LL, I’d remove their signage from the common area while they are in default. 🤷♂️ (Assuming the lease provides for that, of course. In self-storage (great category), you can overlock a unit when the tenant is just a few days late, and my state gives you a lien on the possessions from the day they are placed in the unit.)
@@TheProptechScout your explanation makes no sense. Its like you made it up. I would like to know the real reason its painted white.
@@andyleo8418 He was not allowed to remove the W so he painted it white, blending in with the background.
He did it because he can. Twitter is now "X Corp".
if you owe 100k to the bank, you're in trouble
if you owe 1 billion to the bank, the bank is in trouble.
the bank is at risk of bankruptcy.
The actual saying is:
If you owe the bank 100 dollars that's your problem if you owe the bank a billion dollars that's the banks problem
@@sefyboy7183 maybe but i said it using less words
Fascinating.
@andrewcannon587 you did not use less words.
Only rich people can stop paying bills and be called. "smart" for it.
Good reason to try for riches.
It’s not being smart, it’s having the money to go the distance.
lol rentoids literally could stop paying rent for YEARS recently and not be evicted.
And poor people will say…. good job, his a genius. But if it was a poor Mexican dude who didn’t pay taxes, the same poor people would attack him. Hypocrisy
Musk is literally jockying as most wealthy man in world. He can out last anyone.
Me: stop paying rent
"Wow I'm just like Elon Musk"
that only works for billionaires lol
Me: evicted and homeless
"I'm not Elon Musk"
Or is Elon Musk just like you?
@@Koen75NL- Well Elon Wanted Twitter Offices to be Officially Evicted. That would forfeit the need to pay. So yes you’re are exactly like Elon Musk.
It’s the "What’s next" that makes you different. You can always mooch on back to your friends or parents. My Business is Real Estate, so yeah, it sucks that tenants forfeit rent payment, but having big name companies like Twitter/X or Tesla on your premises is a very very Big Marketing achievement, and we can ask for really Premium Rental Fee from incoming tenants that are many times normal price. So they actually earn many times more because Twitter was there. Yes, they’ll just settle it out of court with a comfortable deal, then Rent out the same Space at a higher rate than what they charge on Twitter with a more “Secure Revised" Contract and Payment procedures.
So I really don’t fell sorry to those folks.
Elon had leverage u don’t
It’s always great to see that the head of a company can break contracts with impunity. Really inspires confidence.
Honestly, it's occurring at the very very top of this country, so this is just business as usual. If you want a safe example, the 2008 GM buyout which moved the unions to the front of the line and shafted the bondholders. Centuries of legal precedence dictate that they WERE the first in line, but now bonds are about as safe as stocks since the government can twist arms and decide who gets first dibs on the carcass.
Lots of tenants in SF stopped paying. The entire mall in union square stopped paying the mortgage becasue so many tenants left. A Westfield property
@@nofurtherwest3474 then who has the most loss cz of this event? Is it the landlord? If yes, then how landlord live day by day?
@@farrel_ra the bank will take the loss if they LL stops paying the mortgage.
In the case of Twitter probably the LL takes the loss initially. But if there's too many loses on the LL then they'll give it back to the bank and the bank will take the losses.
How is it "impunity" when he's in court over it? 😂
The rich: Shady activities = Strategy
Middle class: Shady activities = Jail
It's because unfortunately the middle class are the biggest bootlickers. "The law" avoids the upper class because they have good lawyers and must tread more carefully with the lower class because they have a chance to be shot back at but a middle class person will arrest themselves and March themselves right through the door of their own cell no questions asked. Don't be an easy target.
Yeah it’s like the sophistication makes it okay to them somehow lmao
Ones have the means for endless lawyer support that surf the line between almost illegal and still ok plus the arrogance that comes with all this
honestly anyone can do this if their rent is higher than surrounding houses, apartments and such. Because you could in a sense counter to start paying your rent again but at surrounding rates or he could risk losing a paying customer if he already has empty units. But it honestly would only work in a situation if housing was higher than demand, don't see that happening anytime soon. But the commercial side has been taking a beating since covid, especially with so many companies going to remote work from home. So most big companies are sitting on large amounts of unrented units.
If it were renting a home there’s something called squatting that’s an endless free rent glitch. No jail time either lol
Only poor people are expected to pay bills on time.
Right!
Good one my friend! Very, very true.
You got it wrong buddy only the poor people with bad credit can get loans now didn't you get the news?
@Popcorn since you mentioned loans....I know that low income earners with good credit who could usually get a bank loan now can't get a loan because of the cost of covid (living)
Yessss
So basically Elon is a wealthy squatter
Twitter is lol
@pawelburzykowski he owns twittter
@@victorespino5650 i know
Always has been.
Always was.
As a conservative, I find it frustrating when conservatives complain about poor people not paying rent during COVID but praise Elon as a smart businessman when he doesn’t pay millions in rent. Both should pay their fucking rent. Keep it consistent.
Agreed, I’m also a conservative and find it disgusting that people are glorified for abandoning their contractual obligations just because they’re on “our side”.
Private tenants renting houses very rarely get to negotiate rent. Businesses especially the size of twitter, do get to negotiate. Not paying rent to renegotiate terms might be a little shady, but its the only way to open the talks with the landlord, no landlord is going to renegotiate rent otherwise if the bill gets paid on time.
The difference is: poor people not paying their rent are doing so mostly likely because they have no other option. Elon is CHOOSING not to pay his rent because he is weighing all of his other possible options against that decision.
In short: Elon has something else of value to offer on the table, poor people do not.
Where you stand on that morally and ethically is up to you, I'm simply explaining the landscape.
Hypocrisy is an integral part of conservatism. You're either both or neither.
It really depends on which landlords you're talking about. I'm conservative, but I don't see all landlords as the same. Some are desperate to keep market rates high because they overvalue their properties, and that hurts everybody looking to rent. Plus, I also don't really see it as a problem when the risk to owning property actually plays out. Owning property means you own the liabilities too, and if you couldn't balance those liabilities out, that's your problem. Consistency doesn't mean I have to defend the upside for everybody in the same class. I need the downsides to work their way too; otherwise, I'm trying to conserve a magical world where consequences don't exist, which is what progressives do.
When workers avoid paying rent it's squatting, when Twitter avoids paying rent it's just a "business tactic"
And then we all need to bow down and worship the meme lord because he's a genius.
I would call it mafia move
Not quite the same. One, Elon Bought the business. Squatters just enter an unoccupied building and call it theirs! Elon had blood in the game. Squatters have NO CLAIM whatsoever!
@@tbusch63 former tenants can squat
SOOOO this!!! Trying to get a zombie capitalist to understand this is the problem.
Instructions unclear - I now owe 2k and am homeless 💀
See, the issue is that you don't owe enough money yet. When you run up Musk, Trump, airline, etc. level debt and bankruptcies, THEN you become "too big to fail," and you get the simps making videos about your genius.
😂
If you rent an apartment and don't pay, that's your problem.
If you rent a city block of office space and don't pay, that's the landlord's problem.
@@MarcillaSmithClearly not a business student. Ur just here to nag the boys. Get back to work, sweetie. That carpet isn't going to vacuum itself.
So the basic rule is don't do business with Elon because he doesn't pay his bills.
Just like trump.
Is this really new? I mean the rich haven't been paying actual tax rates for years
Found the Tesla hater 😂
@@nofurtherwest3474But Musk isn't paying his rent. No-one wants to do business with someone who won't keep up their end of the deal.
@@me-myself-i787 lol. then they go to court and let's see what happens.
Not paying rent IS breaching the lease
Who is gonna replace twitter's lease? I think that is part of the point.
I do the same 10 years ago to break lease becouse owner was a dick.
@@NoRespec1how did that work out for you for a future landlords?
😂
Who's going to move in and pay that much though?
If the poor stop paying rent they are called deadbeats
If the rich stop paying rent they are called genius
simple. get rich
there is a huge difference between retail and residential
Get over it Gomez /s, Musk didn’t stop paying tent on his house, its Twitter that did.
@@williamgill5286 Then we should all go retail spaces to live in.
The poor have no strategy, that’s the difference.
As a contractor, the people with less money were ready to pay when the job was complete. The ones with a lot of money often tried to negotiate after the job was done or wanted some type of deal.
As a once young worker at a graveyard, I saw contractors who agreed to put in a sewer in order to prevent fields from flooding put the sewer IN the field instead of ON the street/the lowest point. The fields still flood.
So fuck contractors and land lords
@@dab0331WTF?
You aren't exactly making a crystal clear point.
@@a.m.mcaloon9874 The manhole drain was ABOVE the street and ON THE GRASS instead of on the street.
OBVIOUSLY runoff water from higher elevations can't drain into it if it's above the street, genius.
@@dab0331 One crappy drain tile install, it still doesn't explain your level of hate directed at contractors and landlords but hey your life.
i've had contractors do the very same thing, get a 50% deposit up front, finish half the job and now suddenly needs additional funds to finish.
So he is a liar, a grifter, AND a squatter. What TF are police for again?
So a big FU to other people is this man’s strategy. What an amazing human being - who’s first to sign up for his Mars colony, where he will be the ultimate authority?
Who says that if we aren’t self sufficient we can’t just revolt?
We'll get a first look with his flock signing up for his brain implant.
Can't wait for solar colonization
IDK why y'all gotta fight that idea at every turn
got an idea hear me out: what about we sign in and theeeen NOT PAY HIM RENT.
Richest man in the world scams a landlord out of contractually agreed rent. If everyone in the economy acted like this genius we’d be a third world nation.
Morality is not what people crack it up to be. Most people given the chance will take what they can. Look at people selling cars new and used even private sales. Buyer beware.
He didn’t sign anything, it was signed before he bought the company
@@linsy1971 The dumbest statement on the internet. You think it was not known to him when he acquired the company? So he signed a contract agreeing to the rent. You need to stay away from business. You won't do too good.
Problem is everyone in the economy cant afford to do this as he is one of the richest people in the world and can afford the best lawyers money can buy and even the judge would side with elon and whats a few hundred million to a multi billionaire. We poor folk cant compete
Elon also paid more tax than any body in rhe world ever !! Ever and will pay again this year .. ask your wealthy friends what they are doing !!!
Poor person doesn’t pay rent = F U
Rich person doesn’t pay rent = Genius
Yet he can cause rent to go down
Rich people pay rent to rich landlords. Poor people pay rent to not-rich landlords. That’s why.
poor person who doesn't pay rent because they don't make enough = idiot rich person who does it out of a negociating strategy = genius.
Did you already forget what happened during covid
if you're "poor", deal with people of your social class, not with the very rich.
Elon bought Twitter for 44 B and right now it’s probably worth 10B. This is actually a smart business move.
Yeah 100%, can u just imagine the depreciation he'll be able to claim on the failing asset? Genius.
Imagine you bought a 10k car for 44k and people still call you a business genius. We're living in the Idiocracy.
@@pabrodi I’m being sarcastic, I can’t speak for anyone else.
@@biff2k2 I was agreeing with you
@@pabrodi fair
“Honey, we’re broke! We gotta think of a bullshit video for youtube!”
Rich: great business sense.
Poor: evicted, credit history destroyed, and living in there car.
Since when do they get evicted? Evictions were outlawed in 2020/21. Reinstated earlier this year, the backlog is expected to take over 5 years to resolve.
Musk bought twitter in 2022 and is already in court.
I think we can all agree it took far less time for his landlords to get their day in court than the landlords of your average scumbag living in residential housing rent free.
At the end of the day, sign a rental agreement, adhere to the rental agreement or face the consequences. This goes for Musk as much as anyone else. I rent, i pay weekly, if i stop paying i wouldnt bitch about having a poor credit rating as a result
Business defaulting is different than a person defaulting. If a person creates a small company and defaults, the company will file bankruptcy and companies credit history will get destroyed but the person will not be affected that much.
@@regularhuman95 i think twitter/X filing for bankruptcy would be way less likely than your average renter.
The current valuation is 19 billion, and the outstanding rent is 7 million.
When a renter with assets valued at $190,000 and files for bankruptcy based on $700 of outstanding rent, the bankruptcy arguement would be legitimate.
Always Remember:
"Punishable with a fine" means legal for the rich
Poor people do it all the time also. They just use some moral high ground like, kids, family and it is hard out here
Amazing, that criminal behavior is being described as Smart Business Move... Unbelievable
I thought landlords were greedy scum keeping the younger generations out of home ownership?
Which is the crime: not paying overpriced rent, or charging overpriced rent? Amazing how leftists move the goalposts when it suits them.
Always been that way, were you just born?
He don't play GTA because he can't see him self breaking the law.
It is not criminal to not pay your rent. No one is going to jail for not paying rent.
We will all pay for these tech billionaires who default on their bills.
No we dont
@@GriiffixPVPyes we will, rent is only getting more and more expensive in san francisco because all the tech companies left it a shell of what it used to be
No
Exactly. You're absolutely right. We're all paying a terrible price for these damn grifters.
@@GriiffixPVPYes we do. That's why inflation is double-digit and there's no money for anyone to borrow.
If you're looking for lazy foreign tax dodgers to blame, Musk is in the world's top three.
He’s on a slow burn to destruction and I’m enjoying every minute of it. Elon Musk is a great litmus test. If I meet someone and they think he’s a genius, I know I’m dealing with a muppet.
He says he's a 3,000 year old vampire. I'm inclined to believe him. He's got old whirled blood.
Yeah, any day now that $245 billion will be gone right… I’m sure you’ll be able to wait it out and then just have a good laugh at Elon musk
That’s how I feel about Liberals. They come out with so complicated vocabulary but can’t explain how economy basics work but yet still can vote.
@@lakoncers13 yeah I first thought billionaire Elizabeth Holmes was a fraud but seeing she's so rich I now know I was wrong 😞
@@PatrickGotHandsbrain rot
Yep and people say the system isn't rigged.
Trump said it was
@@1482speedy Trump was one of the people who rigged it.
@@1482speedy because he and his shady lawyers had experience in practicing the rigging...and what do you know...things didn't get better.
@@seanoleary3428 so do the Bidens and Clinton’s and all the liberals.
Power corrupts no matter what side your on
It’s not rigged but rather setup to not pay taxes. That’s what our country was founded on
So his clever scheme is theft.
i mean if your charging rent above market, you have to expect a correction coming in some way or another
@@youdontknowwhoiam2449 You have a contract for which you expect the counterparty to fulfill its contractual obligations.
If you are offering space at above market prices, then you can expect a correction to have that space be leased
@@Rob_F8F Wow, dude, you really do hate him. Show us where Elon touched you.
@@GUNNER67akaKelt I hate tenants who skip out in their rent and especially the people who think these tenants are geniuses for doing so.
Next time you do your job, have your client then tell you that you wouldn't be paid because the amount you both agreed to in the contract is now too high for them. At that time, I hope you sincerely call them a genius and then agree to take whatever they are willing to pay.
@@Rob_F8F Did Elon sign those contracts? Or did the former owners? Should he be bound by what someone else not associated with him agreed to?
I've seen property owners raise the rent when they get new tenants. Should the property owner have to go by the lease signed by the previous renters?
Yes, you should pay what *YOU* agreed to pay. I agree.
Well I learned something today. Apparently the scag head who stole my TV wasn't a thief after all- just making a strategically sound businesses move
Elon is so smart. Because twitter went from worth 44$ billion to being so close to bankruptcy that if a judgement came for 6 months of rent they would go under. Ficking genius
Just take all of Elon's shares in Tesla and sell them and give the money to the landlords!
@@ricomajestic …….lets ignore the fact that teslas economic evaluation is way past any standard metric (aka instead of our company being worth 5-20x revenue based on industry they used stuff like 100-1000x). How do you think you sell 411 million shares of something without significantly reducing the value of said thing? Unless he finds another richest person (on paper has zero cash flow) who is also stupid enough to buy this he will lower the value of Tesla stock significantly. Considering 40% of that Tesla wealth is based on options at 100X exposure simply selling Tesla stock would actually make him more poor than the cash he gets but at least he would finally be able to pay his bills
Spoken like a truely amoral trustfund baby.
@@ofallnamespoor thing, how will he ever recover. Maybe he shouldn't sign contracts he can't fulfill. I say make him carry the debt personally
His idea was to turn Twitter into a more updated version of Stormfront. Then he wonders why the advertisers are fleeing.
So he's a scumbag who doesn't pay his bills? Got it.
Yeah, think about these poor poor Jewish multi millionaire landlords.
@@Arutima
No, you should think about the billionaire space Karen
@@Arutima yes just suckle from Elon's bossom. He will personally save you a spot by his side. He most definitely cares about your existence, and would never screw you over for twenty three cents.
Its alright not understanding current financial or economic landscapes. .
@@seebarnes6588 You'll never be a billionaire, you don't need to simp for them.
We need to do this with taxes
The landlords should say FU and kick them out. How dare he "blackmail" the property owners? 😂
Ya and who is going to move in to the space and pay the rent once they do that?
@@andrewscott8892 someone who is not an arrogant nob-end? 🤪
@@andrewscott8892 What difference does it make if your current tenant isn't paying anything? You kick him out both for breach of contract and as a matter of ethics.
@@nickrails what difference does it make, if you don't have someone that has the ability and/or willingness to rent that same space in the future then your stuck with an empty building that is costing you x number of dollars monthly to maintain. And we are talking about a huge space meaning a very limited pool of potential tenants and in San Francisco you might want to do some research on the commercial real estate market there at the moment its not very healthy especially near the tenderloin and downtown
@@andrewscott8892 The difference is legal and ethical. You can't just allow contracts to be broken because its inconvenient for the tenant to pay rent. In your scenario, nit only are you having to maintain the building for zero return but its actually subject to wear and tear - for zero return.
Ethics and principles may not mean much to some people, but they are the bedrock of a functioning society. And because people act unethically, that's why there is civil and criminal law to enforce ethical standards. Simply stepping out of those because you're so wealthy you er...can't afford to pay your rent....is not acceptable.
It's not a business, it's a bandit move.
This is total bad faith
They're welcome to take legal moves to get theirs (remember, it's inflated) and he can go along with the legal process, which is did/is doing/ .
Remember when they sold Gina company worth 20 billion for 44 billion... that wasn’t shady at all, Elon is the problem though
@@kiimcardashian8093Elon has been operating American businesses for 30 years. He knows how American contract law worked, and he *benefited* from those same laws as he operated his businesses and solicited billions from investors. You may not understand under what circumstances an offer becomes a binding contract, but Elon sure does, and his offer to Twitter was binding as soon as it was accepted. Likewise, Elon knows that the “Hold-Up Game” is illegal, and that he is bound to honor his leases the same as any other legally enforceable contract.
cry more for landlords
This is the sort of reprehensible behavior governments need to keep an eye on when these SOBs come asking for tax cuts.
Yeah, but they are in on the fix , bought and paid for
Elon could pay all the taxes you want to saddle him with. Just add a millon to each bid submitted to the US government for launching Falcon 9s and he will come out way ahead. NASA stated SpaceX save the US military $40 Billion in launch costs. Do you really want to niggle about taxes?
He provides for the country in security tech and job security one of the largest in the country thats why he gets tax cut
@@marioh_flores Tesla and SpaceX employees paid a total of $2.262 billion in income taxes in 2022,
DERP. government offer tax cuts and incentives IN THE FIRST PLACE, DIPSHT. even millionaire Bernie Sanders takes tax cuts.
Sounds like twitter should be evicted for not paying rent…
He would welcome that with open arms.
@@SlickArmorNo he wouldn't lol.
@asmyself4021 uhmm, yes he would. Get a clue where its at and what's going on there.
Sounds like you didn’t listen to the video😂
@@driftrunner805 We all did listen to it, and know that twitter should be evicted.
That city is hell on Earth --criminal real estate prices. Criminal politics.
No, it isn't. 😆
Thats what fox news tells people that never left their hometown.
The richer they get the more criminal they become anybody else would even lose their home.
There was nothing criminal in this move... try avoiding using words that you do not understand...
retail and residential are very different
@@williamgill5286 Yes the rich have made sure the laws are there to protect them so when they go broke everyone else pays.
@@Bialy_1 Criminals protect themselves from others so they can profit from their actions going bankrupt although legal is an action that protect those that had hard times but to use it 7 times is or should be criminal ask those people that got stuck without pay because of the abuse.
@@Bialy_1 Right so it's perfectly legal if you're rich. So glad we live under two different systems, one where working class people are ruthlessly punished for not having enough money for rent and bills, and another where billionaires are called geniuses for choosing not to pay rent and bills, and celebrated for it.
It's shit move by corporations. Now if that was a small business that stopped pay rent they'd b out in few mths
Landlord: “Pay me rent”
Elon: “ You’ll get your rent when you fix this damn door!”
The landlord should have changed the locks & started removing all the furniture to the sidewalks. Then post a giant sign over the Twitter sign saying “NOW AVAILABLE”
For those who say that’s illegal fine… sue me
We need to stop glorifying scammers.
We literally voted a scammer into the White House, he even tried to scam us out from an election he lost, and was helped by the majority of republicans to fulfill that scam, Rosanne Barr believes he is still commander in chief currently, it’s bonkers.
And to be exact it wasn’t him it was all done and thought through by the lawyers.
The other company went bankrupt and everybody got fired. People need to stop praising Musk
This is an example of just because you can, it doesn't mean you should.
@@TheEjsc committing a crime with the help of lawyers is still a crime, you can’t blame it on the lawyers when you ordered them to do so, and when you IGNORED all the other lawyers who said this is illegal, you definitely can’t call a Secretary of State and demand he find you 11,800 votes out of thin air, and you definitely can’t tell an angry mob that they all need to fight and fight like hell or they won’t have a country anymore, meet with violent militants the day before then throw in the word peacefully to claim you didn’t want violence, justifying this says a lot about you!!!
I would pull the oldest landlord trick in the book. Cut power and remove the roof for Repairs.
Exactly...average person miss a month of rent they get evicted and escorted out by police, corporation does it and nothing happens
He will be evicted. I know commercial real estate everything takes about 10x slower than residential but that is his plan to save costs since Twitter runs in the cloud there is no need for office space
And devalue my own property ?...no Im not that petty 😅
Cutting electricity is brilliant. It would cost him a fortune to immediately relocate .
Both of which would be illegal... But hey go ahead and give your tenant money
I love Elon’s style! Had I been 20 years younger….😅
Landlord: I don’t know how the fire started
How corporations help destroy society. Skip out on rent, taxes, paying employees.
Its twitter, who cares
Government taxes ppl NOT corporations.
@@MissGodsChild corporation tax
Blame the feds.
Its a corporation that owns that building
End the double standard if a regular Joe tried this they would be in jail
Why? He's doing to the landlords they same thing they do to tenants.
Fuck them.
He tried to renegotiate, and they chose court. That's on them
How? You cannot be jailed for not paying rent ?? Wtf you from
@@dab0331the landlords shouldnt have to chose between renegotiation and court. The time to negotiate was before the contract was signed.
no they wouldn't. you can't be arrested for civil debts in the U.S. Whole ass npc lol
U mean in court/with a lien/in the street. Much,much much worse than jail , yea??!! Why America home of the free (rich)! 2 systems of eco omy & justice!!!!❤
Should be illegal. As CEO he's responsible for all company actions he should be jailed for theft of services.
Its not theft at all, its an unpaid bill, its a civil issue not a criminal one. The steps to get the bill paid like going to court is long before it can be called theft.
If you refuse to pay a bill after a court order, then its still not theft, they just get the court to bailif your assets.
@@quillo2747correcting OP: he should be evicted.... since the video came out a few months ago
... a few months ago minus 1 month ago!
also, the landlords refused to let him use the empty parts of the building, that he was paying for, to use for the homeless. He said he wanted to let them move in and put up their tents or whatever to have 'housing' and the landlords said no.
That opens up squatters rights issues and other legal problems. The owners do have a right to deny people if they’re not there for the intended purposes of the contract. Musk is doing business, not opening a charity where the risk is largely on someone else and not himself. You can’t even do this with an apartment you’re renting as some leases have a limit or require all parties be included for liability reasons.
Ah yes, Elon, saviour of the homeless
Lmao sure he did
There’s zero chance he would actually do that. My money is on Elon being made a fool of over this Twitter HQ bs and then making up some fake story about how wonderful of a person he could be if these evil landlords would just let him
Only a scumbag would screw someone over, just because they can. That doesn’t make him a good business man, that makes him a bad person.
Its not a person, its a massive corporate real estate firm that probably owns hundreds of millions in commercial real estate.
@@genericmainer, I’m sure you are absolutely correct. In any case, whether it be just an individual person, a small business, or a large corporation - no person or company should do that. It’s not only a deplorable act, but it’s bad business as well. If you worked for a big corporation, and you were in charge of doing business with him - full well knowing his business practices, would you take the risk?
@@scottwinter9370 dude I couldn’t care less if something happens to hurt a big corporations bottom line. Most people don’t
@@genericmainer, I get it. I’m certainly not a fan of big corporate America and them buying our politicians to get tax legislation that benefits their own bottom line. Is it too late to withdraw my earlier statement? 😀
@@scottwinter9370our tax codes haven't changed in a long long time.
Musk showing his true colors
he's a rich white south african dude? this was supposed to be a surprise?
Scammer gotta Scam.
When scammers are called business genius
Now I know why Musk is telling us we should all be going back into the office and not working from home. I bet he’s got commercial real estate.
It still baffles my mind that a multi billion dollar company doesn’t own its own office building
These are the little known facts to build wealth. Remember this is commercial not residential where your paying apartment rent.
Commercial RE in SF has devalued substantially since Newsom was running the place into the ground BEFORE he became governor.
Landlords are not going to reduce rent to a lower market price.
Musk is a hardcore businessman !
Cheaper
There’s more flexibility. Easier to move and less upfront cost.
Most companies do now own their own buildings. It’s not core to their business and depending on the size of the company is really just a distraction. Financially it means you are spending money not investing into your business but on owning property, which is likely a much lower return on capital than your core business. I hope this helps.
@@exteriorized SF is down due the pandemic and remote work not anything Newsome has done. Values were at an all time high in 2019, which is 8 years post Newsome being mayor.
Elon Musk is such a genius that he overpaid for Twitter but skipping on rent will help him paying the billions of dollars he owes. 🤡
One landlord has already defaulted, if the rest follow suit, the building goes up for sale, likely for a song. A holding of Musk’s or he himself squires the building for a fraction of its value, negotiates a settlement on the debt owed, he still makes bank.
@@Puppynutter123 the dude overpaid for Twitter more than double. Twitter has lost more than 70% of its revenue at the same time. How many buildings does he have to buy in order to pay back all that money? For the love of God, please stop simping for this man. Buying Twitter was a stupid business move. He isn't doing 7D chess moves.
@@the0ne809 mark my words, twitter will be bigger than Facebook. I don't know how Elon is going to pull another rabbit out of his hat. Sure, the odds are against him, but if I had to bet on someone to beat the odds out of all humans, my bet would definitely be on Elon. As a matter of fact, that's what I have done so far since 2013 and honestly I can't complain. You are talking about the guy who beat NASA and all the space agencies in the world, the guy who is revolutionizing transportation, who created and was able to mass produce vehicles that are to other brands what a smartphone was to a dumb phone back in the day.
"Never underestimate the man of overestimates himself" -Franklin D. Roosevelt
@@CHASTAK is this that you, Elon?
@@CHASTAKLOL.
I love it when Elon does things like this. Even though I don't fully like what he is doing, he is like any of us wanting to rebel against the stupid system we have to function in, but he has the money to actually do it.
So it’s okay for him to not pay rent for the building he’s using; while other landlords and business’ go under because he has so much money no one can do anything about it? You’re just as bad as he is supporting a criminal.
In the 80's a friend bought a house in West Sacramento that for some reason the neighborhood took a sudden down turn. Lots of crime and graffiti and empty squatted houses. Said friend left her boyfriend so she was stuck with the loan. She went to the bank with pictures of the neighborhood and told them she was going to default on the loan. Since the payments were now lesser than the going rents, she offered that the bf take over the loan (with no credit history) and take her name off the loan. They went for it.
I'm going to start using this "strategically sound business move"
Update: I'm homeless and pending criminal charges.
It only works when your a renter NOT. a homeowner in the projects.
Doesn't work in red cities. Be a squatter in a blue city... very profitable, then you really get to screw people who earn their assets.
😂😂😂
Smooth move
When he said free speech, he meant everything should be free for him.
He is literally trying to kill twitter by using/loosing his own money to do it.
that doesn't even make sense.
@jeremysimpson1432 no, he's not trying to. He's just highly incompetent at running it
@@stonem0013you have to admit though, the product has gotten better even though it has become less profitable. Many of the companies pulled out of advertising on the platform because they were convinced by their ad agencies that free speech was dangerous. So he took a big financial hit for it considering the platform is mostly supported by ads.
time to hold him and trump accountable and fix the American justice system! we want equal justice!!!!!!
As a former tenant in this building, I can tell you the rent is extremely high and other tenants don't pay rent. Negotiations happen all the time. And they recapitalized this building for $800-900 million in about 2015 if I recall. There's plenty of room to negotiate.
Whether it saved Twitter money or not, violating the contract is a corrupt move.
Welcome to corporate America
😂😂 oh now we defending the establishment?
Women do it often and are rewarded in divorce court
PROVE it get your gangs of lawyers.go for it. YAWN:: 14 months later????
He got it from the book of Kanye West with Adidas.
He’s so smart, saving 7 million while casually losing 44 billion on twitter
He’s warning us about the collapsing commercial real estate market by being one of the reasons it’s collapsing.
No that was covid
@@joshuathomas5626, No, that was a lot of people realizing how pointless it was to keep showing up to a job that doesn't give two squirts about you and not wanting to commute anymore.
part of the rules! just like Trump using the tax codes to do his taxes. it's not illegal if it's legal.
@@superoffended6737, Then stop moralizing about other things if you don't mind making other people pay your way just because it's part of the rules and then pretending you do so much for the country as you bilk it dry.
@@JacksonHoulihan Most of them could have realized they were not important way before then. All of the truly essential workers, like the wendys drive thru window worker, knew they were worthless way before the government said so. Could have just took their heads out of their butts and asked their community.
They make a valid point, the only downside to not paying rent it the hit to twitter's image and looking like deadbeats, but he already trashed their reputation, so that isn't worth anything.
So much for honoring a contract he signed in good faith. It's not lying, cheating or stealing and it's certainly not personal when you're hurting people and their businesses so you can put more money in your pocket.
It would be a "strategically sound business move" for apple to quietly start firebombing samsung factories, but it would also be wrong, Jan.
As an ex owner of 2 Samsung phones I can assure you Samsung destroys it's relationship with customers well enough without Apple's help.
😂 Samsung uses 3rd party help for processing tho I make Samsung Chips
Lol
@@richardlo4867 I can testify to this.
But... Apple follows Samsung, so let Samsung come up with it first, then apple can come up with it a few years following...
That's called bad business. He's rich so he can do what he wants, but make no mistake. That is immoral and unethical. If you were the landlords you wouldn't be too happy.
Want some cheese with that whine?
of course not, but are we pretending that corporate landlords arent screwing everyone? Literally only someone lile Musk can afford to call them on their shit. Is he doing it for himself, of course, but if the result is a correction of the market, idgaf what it takes. At least thebman is consistent: he sold out of the private property market.
And if Twitter signed a new lease screwing Musk just before the sale, would that be okay, too?
then change the laws?
I actually realised/ did the same thing. I rented an office in 2020 and whilst my company was making no money I paid all my suppliers. As a result I lost a lot of money. Now I don’t pay my office rent and have racked up tons of debt. I will pay that back tiny amounts per week. If any of the people I owe money to take me to court I will go bankrupt and move abroad. Its actually pretty easy to do if you own no assets.
That's actually a really smart business move. They're not going to evict twitter, nobody else is going to pay that much rent and he can terminate a bad contract with the least amount of red tape possible. He really thought this through.
It's not residential, the landlords should turn off the electricity and water supply.
There's usual more than one company in the building and offices generally aren't individually fed, so you'd have to disconnect all of the buildings tenants.
Good luck with making that hold up in court
Why would the landlord have access to the occupants electric and water? You think Twitter building an all bills paid trailer park?
It’s illegal to turn off water 💧 and electricity. They will be hit with a double whammy in court and lose
It's illegal for a landlord to turn off any utility for non-payment. The Demoncraps passed that law to protect tenants and it backfired.
@@nasacollector3676 Those laws apply only to residential tenants. Not to commercial tenants.
Might want to familiarize yourself with the basic components of laws that you are going to criticize.
I'm tired of people saying doing unethical shit is a smart move. All it makes you is a POS with a few extra dollars.
did you not hear the part where it said they were overcharging for the rent? what about them?
this is rich people vs rich people lol
Bro did you not listen. Not saying Elon is the good guy but you have to play the system when you can't get whats right. What seems wrong isn't always face value.
@@darkskinwhiteThey overcharge everyone. But a rich shole gets away with not paying rent while you and I would go to prison.
@@jensalikwho goes to prison for not paying rent?
This guy tips his landlord.
Well done. The only real friend you need as a rich man is a lawyer. Never give anyone anything or borrow anything if you can’t take it back.
That's a strategically sound business move like a bank robbery is a strategically sound business move.
Because our oligarchs, of which Elon is one, consider ethics, laws, and worker safety as something only the dirty poors ever concern themselves with.
@@nullnull3553I assume the person you're replying to deleted their comment
@null null Elon Mollusk was literally tweeting anti semitic garbage the other day 💀
@@nullnull3553is this a Patrick Bateman quote or are you being for real?
Musk is such a genius. Leave it to him to figure out, “Why pay rent when you could just steal it?”
Too bad that doesn't work out for everyone 🤔🤣
More like dirty criminal using the two tier justice system.
It’s not stealing. If it were he wouldn’t do it, ever. Why the hell would he to get a record he couldn’t ever get rid of? No, no, no….
@@deborah9384 he would do it if he thought he could get away with it. Which, unfortunately, he’s probably right.
Free teslas for the judges 🤔and guarantied jobs for there kids, but no word of this for 5 years when statutes run out
It’s crazy that to acquire $1,000,000,000, you would have to work 40 hours a week for 47 years (18 to 65), not spend a single dollar on anything, not take any days off, and it would be absolutely possible, as long as your job paid you about $10,000 an hour
Only a billionaire has the capability to troll another billionaire.
Wow what a great business man! Screw everyone as long as he gets what he wants!
That was Trump
@@danharold3087 he owes you back rent for sure
@@thestoicwhinger lol great comment
Musk is so smart, he overpaid for Twitter
What would you pay for a database on all the Twitter followers (? Now imagine you have access to a super computer and are one of the richest people in the world .
You do know they sued him and was essentially forced to buy it
@@salmonella6744They forced him to follow through on the process he started.
Elon would only had to pay a $1 billion break-up fee, to walk away. That would be a hell of a lot cheaper to pay than $44 billion for an asset only worth less $10 billion. But you guys just like to keep thinking he’s a genius. @@salmonella6744
I do that also. But he wanted to make sure the SEE EYE AYE didnt outbid him...
Remember when Eric Schmidt bought Google?
He didnt do so because he wanted it, but rather because he was assigned to do so.
I absolutely love all the outrage going on in the comments section. I have never seen so many people in favor of the Establishment! None of these folks get this worked up when grandma is finally forced out of her house after a 2 year legal battle that finally evicted her!
If I stop paying my rent I'm fucked, these these elites are playing by different rules to the rest of us
Common business tactic. Its called, "A contract is only the beginning."
And that landlord thought he struck gold
As a landlord, rental property business partner my respect for elon crust just went from a solid 9 to a -5
In the UK they don’t even have to get to court; they just enforce CRAR via bailiffs and literally lock them out of the building. The only problem is the landlords don’t have a queue of potential alternative tenants
are you living in the UK ?
IN THE UK EVERYONE IS DESPERATE TO FIND A PLACE TO LIVE
@@maalikserebryakov This is completely different to residential lettings; that has a LONG queue of people. CRAR - Commercial Rent Arrears Recovery is automatic when rent if overdue by 15 days. It doesn’t not apply to residential as a tenant can stay until a court order evicts them months later. Search commercial spaces to let, warehouse, offices, shops etc there are so many available right now.
Lol “landlords are leeches” until Elon stops paying rent
not-payment of rent is one of the few reasons for a 3-day eviction (in California, at least). they shouldn't be suing for back rent. they should be suing to evict immediately.
San Francisco in "London" did i just hear you say? 😂😅😂
Love how that A.I voice will Gaslight anything and those bootlickers on here listened intently. Lol
i dont think this is made up, seems like a great buisness move.
Maybe Elon shouldn't have given us all those reasons to think it's true, like being a grimy sleazebag riding the coattails of other people's accomplishments
You can't be a billionair without being a psychopath no matter how nice you may think the guy is.
Truth!
😂 he forced them to negotiate contracts that somehow was locked when company changed its owner.
baller move, smart business tactic when your landlord is over charging
What sucks is that the landlord has a signed contract with terms for occupying the space. I would have evicted Twitter and sued them for missing rent for the time they occupied the property as services were rendered.
Even if I as a landlord were to declare bankruptcy, I could surely find representation that would pursue the lawsuit as there is standing and breach of contract. Even if it went to settlement, I would be happy.
Having said this, I like Elon a lot and don't blame him for doing what he did.
Rich people can do what others can't
Yes, Trump evaded taxes for 10 years back in 85 by devaluating a building he owned by 800 million.
Not true, poor people just have less leverage.
Wrong, anybody can negotiate with the banks and providers, you just need to ask them to review your accounts to find better deals. Not guaranteed but it works many times.
On what size scale are you stating this? More than 99% of people in the US make far more than the rest of the world. I am guessing you find that "different" somehow
And the problem is?
Elon counts on the two-tiered justice system to protect him.
It's not a two-tiered system. At least not this time. It's having the money to wait them out.
@@Gravedigger933IE what dude just said. A two tiered justice system. One for people with little or no money and one for people with a lot of money. You pretty much agreed, just in different words.
What? Do you have any clue what your talking about? Apparently you don't know what that means, where did Elon get special treatment from the courts themselves?
Sorry Charlie, he knows the laws and the way they are constructed. If a person does, they win. If they don’t, they won’t. Simple as that.
Do you think they do that so you can hate them? , or you just don’t like rich , happy, prosperous rich people.
I Call BS. Pure and Simple, BS
It's brilliant, he didn't write the bank codes or mortgage agreements he's just using the system against them.
When Elon doesn’t pay his rent he’s a genius, when the rest of us don’t pay ours we are dead beats.
Bros, he paid 20B too much for Twitter. There's no sound business move anywhere in sight.
And from now on, musk will have to pay upfront. And be put on short term leases only too.
Such smart. Such tactics
"Nothing personal, it's just business."
And how is it that the owners can't go in and remove all of twitters equipment and lock the doors?
because he already cleared out.
@@mtaylor3771 nice
the real answer is because retail and residential are very different. Its not as easy as throwing a renter out of a residential
Even if they could (not sure what their specific rights would be in any particular jurisdiction) that would mean no tenant and no guarantee of finding another at the same rate. That's why the video said it could bring the landlords to the negotiating table. They may be prepared to negotiate a lower rate for Twitter rather than risking having no tenant at all.
Or keep the equipment after 30 days