Elon Musk will join Twitter's board of directors:
Elon Musk isn't just stopping at buying a stake in Twitter — he'll also have a seat at the table. As CNBCreports, Twitter is appointing Musk to the company's board of directors. He'll be of value as both a "passionate believer and intense critic" of the social network, according to chief executive Parag Agrawal.
An SEC filing shows that Musk will serve as a Class II director (that is, not top-tier) with a term that expires at the company's 2024 annual shareholder meeting. The appointment limits the stake Musk can hold. He can't own more than 14.9 percent of common stock during his tenure, and for 90 days afterward.
[...] It's too soon to say how much influence Musk will have as a director. However, he recently blasted Twitter for allegedly falling short of "free speech principles" and asked the social site's users if they want an edit button. He clearly intends to make his presence felt, not to mention thumb his nose at the SEC for its crackdown against his finance-related tweets.
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Elon Musk isn't joining Twitter's board of directors after all:
Elon Musk's stint on Twitter's board of directors has ended before it even began. The SpaceX and Tesla CEO has scrapped plans to buff his resumé with a seat on Twitter's board, though his status as the company's biggest shareholder will still give him some influence over the platform.
The change in plans was announced by Twitter CEO Parag Agrawal on Sunday night. In an internal note he subsequently posted to Twitter, Agrawal stated that Musk had directly discussed joining Twitter's board with them, and that the board had offered him a seat, but that he pulled out at the last minute on the day he was to be officially appointed.
[...] "We announced on Tuesday that Elon would be appointed to the Board contingent on a background check and formal acceptance," Agrawal continued. "Elon's appointment to the board was to become officially effective 4/9, but Elon shared that same morning that he will no longer be joining the board."
Though Agrawal did not provide a reason why Musk backed down, and Musk has not commented publicly, it's reasonable to speculate that the restrictions placed on Twitter's board members may have been a contributing factor.
The pressure on Twitter to talk publicly about how it monitors and removes spam accounts continues to mount.
Reports from CNN and The Washington Post reveal an 84-page whistleblower complaint alleging that Twitter isn't motivated to track the true number of spam accounts and hid security vulnerabilities from federal regulators.
The complaint comes from Twitter's former security chief, Peiter Zatko. Zatko is a well-known ethical hacker with the alias "Mudge." He told the Post that he "felt ethically bound" to report his serious concerns to government agencies. He alleges that he was fired for pushing disinclined Twitter executives to address major security problems—which his complaint suggests "pose a threat" to Twitter "users' personal information, to company shareholders, to national security, and to democracy."
Zatko alleges that Twitter execs were more invested in covering up those vulnerabilities, including cherry-picking and misrepresenting data on spam accounts and security threats to regulators and Twitter's board members.
Previously:
Judge Orders Twitter to Give Elon Musk Former Executive's Documents
Elon Musk Pulls Deal to Buy Twitter
Twitter Reportedly Will Give Musk the Full "Firehose" of User Data
Elon Musk Accuses Twitter of Thwarting His Due Diligence, Threatens to Walk Out of Deal
Twitter Users React to Elon Musk Putting Buyout Deal 'on Hold'
Musk Buying Twitter Is Not About Freedom of Speech
After Musk's Twitter Takeover, an Open-Source Alternative is 'Exploding'
Elon Musk has just bought Twitter
Elon Musk Isn't Joining Twitter's Board of Directors After All
Elon Musk Will Join Twitter's Board of Directors
(Score: 0, Flamebait) by Anonymous Coward on Wednesday April 06 2022, @08:03AM (3 children)
Can't the board just block him?
(Score: 3, Insightful) by Anonymous Coward on Wednesday April 06 2022, @08:09AM
Fuck the board with lots of splinters. The culture at Twitter is toxic, just like Facebook, Google, and everything they own.
(Score: 2, Informative) by Anonymous Coward on Wednesday April 06 2022, @08:27AM
They added him to the board to prevent him from buying an even larger stake in the company. So no, they are busy cleaning the urine stains in their pants.
(Score: -1, Offtopic) by Anonymous Coward on Wednesday April 06 2022, @10:28AM
Only if he is aristarchus. Check the Articles of Incorporation. It's in there, for SoylentNews. Though, it does seem to be a rather recent edit. OK, who changed the CoC, without consulting anyone!
(Score: 3, Flamebait) by Runaway1956 on Wednesday April 06 2022, @08:08AM (37 children)
So, all he has to do is resign the seat, wait 90 days, then buy up another 45% of stock, then he runs the company, right? Yeah, there are some technicalities, but as the owner of 51%+ he can dictate his terms. I think the woke crowd had better be very very nice to Elon, and remain very very attentive when he speaks.
Abortion is the number one killed of children in the United States.
(Score: 0) by Anonymous Coward on Wednesday April 06 2022, @08:09AM (13 children)
This isn't abou woke crowd but getting his bestie Jack Dorsey back into bathtub where his little birdie is.
(Score: -1, Troll) by Anonymous Coward on Wednesday April 06 2022, @03:02PM (12 children)
Actually, it is all about the woke crowd. The wokies are busy canceling people they don't like, and Musk believes in free speech. Old Musk has proven to be a little hypocritical on the issue, but free speech is the issue.
(Score: 2, Troll) by Anonymous Coward on Wednesday April 06 2022, @03:55PM (2 children)
I'm getting lost. Who are the cancelers, the Republicans who threaten business (Coca-Cola, Delta, Disney, etc.) to keep their corporate mouths shut or they will enact laws that specifically target them, or the people who tell a company that they will stop buying their products if the company doesn't behave in a manner they approve? The first sounds like Soviet-style fascism and political bullying of businesses, and the other sounds like letting the free market speak by consumers talking with their wallets.
Democrats are the pro-business party, or at the very worst, not anti-business.
Republicans are vehemently anti-business, attempting to pass unconstitutional laws telling them what internal policies they have to adhere to, among their many other anti- positions.
(Score: 0) by Anonymous Coward on Wednesday April 06 2022, @04:37PM
Everyone is a canceller -- from the pink haired demos screaming about something to the Big Biz Software drinking company or to the Disney+*company. They are all just cancelling from different ends and for different reasons. I guess this is why things are somewhat sucking all around when it comes to these "new" ventures. It just isn't fun anymore. Always someone that gets offended and starts crying.
(Score: 0, Troll) by Anonymous Coward on Wednesday April 06 2022, @04:59PM
Clearly, you don't own a business.
Open one in California or NYC and get back with us.
(Score: 3, Insightful) by tizan on Wednesday April 06 2022, @04:58PM (8 children)
I am lost too. What is woke ? So if you are aware or empathic to women or gay or people of color problems or rights ...it is wrong ?
So now we are in place where being anti fascist is wrong.
being anti racist is wrong
Saying something against racism is wrong
Opposing somebody who is being a racist is called cancel culture or opposing free speech
I hope everybody on twitter start referring to Musk as "Little Pedo guy". Remember he won a court case after calling a diver that.
(Score: 1, Informative) by Anonymous Coward on Wednesday April 06 2022, @05:30PM
Abusive personality disorders presented under the guise of benevolence. [nih.gov]
Next question?
(Score: -1, Flamebait) by Anonymous Coward on Wednesday April 06 2022, @07:10PM (4 children)
"people of color" is an anti-white term designed to "un-human" Whites and align all non-whites against them. are you fucking retarded?
"So now we are in place where being anti fascist is wrong."
so-called "anti-fascists" are Jew-funded communists there to make sure Whites never regain control over their own destiny.
"Opposing somebody who is being a racist is called cancel culture or opposing free speech"
You can oppose, as you have been brainwashed to do by your Jew masters, but you can't just oppose. You weaponized slaves have to censor and worse. It's ok. You are waking up the most powerful force on the earth. The White Race.
“And I looked, and behold a pale horse: and his name that sat on him was Death, and Hell followed with him. And power was given unto them over the fourth part of the earth, to kill with sword, and with hunger, and with death, and with the beasts of the earth.”
(Score: 0) by Anonymous Coward on Wednesday April 06 2022, @07:51PM
Uh oh, looks like someone's off their meds!
(Score: -1, Flamebait) by Anonymous Coward on Thursday April 07 2022, @03:44AM (2 children)
Have you looked at what whites have done in the last few centuries? It's about time somebody opposed them.
(Score: 0) by Anonymous Coward on Thursday April 07 2022, @06:47AM
...so you're saying "power was given unto them over the fourth part of the earth, to kill with sword, and with hunger, and with death, and with the beasts of the earth.”
What happens next?
(Score: 0) by Anonymous Coward on Friday April 08 2022, @08:46PM
Nearly everything you take for granted in the modern world was invented, engineered and built by a White man.You like shelter, indoor plumbing, clothes, food, the internet? Thank the Whites of the world who did it all while non-Whites were content being hunter/gathers. I'm not saying they are bad for that, but all the accomplishments of the White race are the only reason many of these hominids even exist today. Also, the bad things you are probably imagining are disproportionately caused directly, or indirectly by the Talmudic Jews that have infested and subvert every White nation. Are there Whites to blame? Of course! If we didn't have brainwashed, selfish, gullible, Shabbos Goy race-traitors they wouldn't be able to get away with much.
Do your offspring a favor and educate yourself about the subversive, anti-White Jew, even if you aren't White. Maybe start with the Bolshevik Revolution and go from there. You would have to be seriously brainwashed to not see that the propaganda in media is heavily Jew-controlled and explicitly pro-White genocide. You will have to deprogram yourself from military grade psy-ops that started in Kindergarten and Sunday School.
Preventing people from learning the truth about the Jew is the main reason for all the internet censorship. Just look at the ethnicity/religion/secret society membership of Big Tech's "leadership".
https://odysee.com/@martyleeds33:6/069---We-Need-To-Talk-About-The-Jews:d [odysee.com]
https://odysee.com/@Slammdcrxx:8/Adolf-Hitler-The-Greatest-Story-Never-Told-(full-movie):c [odysee.com]
https://odysee.com/@coronamirror:d/adolf-hitler-a-last-appeal-to-reason:7 [odysee.com]
(Score: 0) by Anonymous Coward on Thursday April 07 2022, @05:18AM (1 child)
Original AC here. The guy is a master sales man and you guys buy it good wink and sinker.
Also, if you don't know what is woke then don't tell us what is wrong with being anti-woke. Just FYI, being woke is being fascist and calling everyone else fascist. Being woke is pretending that minorities are not minorities, and pretending that shit happening to majority is not important enough to be taken into account.
Coming back to the topic, Jack Dorsey was outed from Twitter for not listening to share holders. So now is outing the shareholders. There is nothing more to it, but Americans love living in a dream. Wish they were actually woke.
(Score: -1, Troll) by Anonymous Coward on Friday April 08 2022, @01:07AM
Fuching Fascist Runsaway! If only he weren't so Sleepy! Unwoke Runaway! Let's go, Runaway! Wake up, Abre los ojos [imdb.com]!
(Score: 5, Insightful) by looorg on Wednesday April 06 2022, @08:54AM (5 children)
Not sure. Still that is a lot of billions to buy a company that isn't really making any profit and is probably highly overvalued. It was just a few weeks ago or whatever that Musk had ideas about creating his own platform, but I guess he crunched the numbers and came to the conclusion that it was better to just plunk down a few billions to get a stake. That or that everyone else that tried to create their own platform have so far ended in utter failure? It's just to hard to create that "free speech, uncensored" platform and still be following all the laws and rules. But if one of the richest men on earth can't do it then I guess nobody really can. So I wonder what that says for the future of "free speech".
Question is perhaps how much influence does 9.2% of the company buy you? I don't think they'll start unblocking accounts or implement "free speech" in the sense that Elon will like. I guess they can't or won't block his account as that would look really bad, but then it might look equally bad if they don't if he gets out of line -- but then different rules for you and me and him so perhaps the billions are good for something. But it's a mighty expensive insurance policy to not get blocked.
(Score: 0) by Anonymous Coward on Wednesday April 06 2022, @09:17AM
9.2% was enough to get Twitter employees and users melting down. Maybe their amygdalas are onto something.
(Score: 1, Disagree) by Anonymous Coward on Wednesday April 06 2022, @11:57AM (1 child)
It looks like Trump's social platform is struggling, to say the least. He could have easily bought that if he just wanted any social media platform, but probably realized that is a big pile of shit from both a branding and technical standpoint.
It might be just the order that it was reported, but I did notice that he very publicly trashed twitter before purchasing his shares. No sense wasting a good price manipulation opportunity.
("woke" companies. God, what tools these people are.)
(Score: 2, Redundant) by Runaway1956 on Wednesday April 06 2022, @03:14PM
Trump has about as much tech knowledge as your grandmother. Trump also has a history of hiring sycophants. Trump was doomed to failure with his truthy-woothy platform. If you're not loyal to Trump, you have no place on Trump's platform.
Abortion is the number one killed of children in the United States.
(Score: 3, Insightful) by DeathMonkey on Wednesday April 06 2022, @03:00PM
Well, starting with an understanding of "free speech" that differs from the Supreme Court's probably isn't a good starting point for a US company...
(Score: 3, Interesting) by Runaway1956 on Wednesday April 06 2022, @03:10PM
Gab hasn't failed. Love them, or hate them, maybe you should spend a little time on Gab, and find out why they aren't failing. Andrew Torba identified the reasons that challengers to Big Tech fail, and took steps that have enabled him to do an end run around Big Tech. Of course, it was necessary to identify the audience, and to attract that audience, but he has done that. Trump should have taken lessons from Torba - you can't hijack some open source software, and use it to build a new site. You can't censor everyone who disagrees with you. You can't use the site to massage your own ego. But, Trump learned nothing from Torba.
Abortion is the number one killed of children in the United States.
(Score: 2) by DeathMonkey on Wednesday April 06 2022, @02:58PM (11 children)
Yeah! No social media network has ever become unpopular and lost all it's market share before!
I'm sure all the woke people leaving Twitter would have NO EFFECT AT ALL!!
(Score: 2) by Runaway1956 on Wednesday April 06 2022, @03:29PM (9 children)
If the wokies get out of the way, everyone else can enjoy their free speech.
Abortion is the number one killed of children in the United States.
(Score: 5, Touché) by DeathMonkey on Wednesday April 06 2022, @03:33PM (1 child)
Trump’s free speech app Truth Social is censoring content and kicking off users [engadget.com]
Project harder.
(Score: 2) by Runaway1956 on Wednesday April 06 2022, @08:26PM
Trump isn't a free speech advocate, now is he? He has spent his life hiring sycophants, and when they don't suck hard enough, he fires them. Elon Musk is a free speech advocate. Surely you can see the difference?
Abortion is the number one killed of children in the United States.
(Score: 5, Touché) by DeathMonkey on Wednesday April 06 2022, @03:35PM (4 children)
Tennessee Republicans hold a book burning to destroy Harry Potter, Twilight, and other "demonic" titles [boingboing.net]
Maybe if you love free speech so much you should vote against these fucknuts? Nah, I'm sure you'll write a nasty email to an unmonitored mailbox at the DNC instead!
(Score: 2) by Captival on Thursday April 07 2022, @02:51AM (3 children)
I like when you're a Libtard with propaganda to spread, "one local church" becomes "Tennessee Republicans"
(Score: 2) by Nobuddy on Thursday April 07 2022, @03:23PM (1 child)
Have you seen the latest laws in Texas and florida banning books? This is not "one small church"
(Score: 0) by Anonymous Coward on Thursday April 07 2022, @11:51PM
What has SCOTUS said about banning books in schools?
(Score: 2) by FatPhil on Friday April 08 2022, @09:23AM
What they wrote is "[Some] Tennessee Republicans ..."
What you have chosen to interpret it as is "[All] Tennessee Republicans ..."
But that's not how language works. You don't get to select your favoured interpretation and insist that's what they were saying.
Of course, they were deliberately drawing an association between this subset and the whole, but that's rhetoric. Learn to understand nuance, and how communication works, please.
Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
(Score: 0) by Anonymous Coward on Wednesday April 06 2022, @08:12PM
FTFY! Has nothing to do with Wookies, except when they tear your arm off if they lose. More about the censorship of viewpoints critical of the right.
(Score: -1, Flamebait) by Anonymous Coward on Wednesday April 06 2022, @09:36PM
Somebody needs to spam mod this. Runaway just keeps posting the same stupidity over and over again. It's spam.
(Score: 0) by Anonymous Coward on Wednesday April 06 2022, @05:32PM
There are alternative sites.
https://babylonbee.com/news/not-to-be-outdone-bill-gates-buys-92-of-myspace [babylonbee.com]
(Score: 0) by Anonymous Coward on Wednesday April 06 2022, @03:50PM (3 children)
Please, define woke.
(Score: 3, Insightful) by DeathMonkey on Wednesday April 06 2022, @03:57PM (1 child)
Definition: Anyone they disagree with about anything.
(Score: -1, Troll) by Anonymous Coward on Wednesday April 06 2022, @05:53PM
"Question everything"! [spectatorworld.com] Anybody who wants to understand Postmodern Critical Theory need only understand that Derrida had originally titled his "deconstructionism" as "destructionism".
(Score: 2) by FatPhil on Wednesday April 06 2022, @08:04PM
Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
(Score: 0) by Anonymous Coward on Wednesday April 06 2022, @04:31PM
there'd be no irony there...
(Score: 3, Funny) by turgid on Wednesday April 06 2022, @10:43AM
Now be a good fellow and tweet up the price of Bitcoin and Dogecoin. Thanks.
I refuse to engage in a battle of wits with an unarmed opponent [wikipedia.org].
(Score: 3, Interesting) by rcamera on Wednesday April 06 2022, @12:30PM (18 children)
so maybe he's not "poor" after all, if he can afford to buy $2.64mmm worth of stock . what a surprise.
/* no comment */
(Score: 1, Informative) by Anonymous Coward on Wednesday April 06 2022, @12:39PM (16 children)
Liar.
https://www.cnbc.com/2021/12/20/elon-musk-says-he-will-pay-over-11-billion-in-taxes-this-year.html [cnbc.com]
(Score: 3, Informative) by DeathMonkey on Wednesday April 06 2022, @03:04PM (14 children)
That is a one-time tax payment due to the fact he cashed out some stock options.
How much tax did he pay last year?
Additionally, he is paying zero in federal taxes on that tax bill of his. [observer.com]
(Score: 3, Insightful) by Runaway1956 on Wednesday April 06 2022, @03:28PM (9 children)
Can we scrutinize all the other rich bastards? Starting with our representatives in Washington? Let's remember, rich people write the laws that protect rich people. I would dearly love to see a graduated tax scale, such as we had after World War 2, when the highest tax brackets paid as much as 90% in taxes. Let's make the first $50,000 income tax free. The next $50,000 subject to 10% taxes. The next $50,000 is 15%, and next is 20%. From there, we can jump right on up to a $1million, and increase it to 25%. Jump to $10 million, and it's 30%. Then it can just increase by 1% with every million, until it reaches 90%.
Imagine the results! Rich people would be carrying the biggest tax burden!! And, rich people got richer still while paying those kind of taxes. Every argument the 1% makes against paying those taxes is a lie.
Abortion is the number one killed of children in the United States.
(Score: 3, Informative) by DeathMonkey on Wednesday April 06 2022, @03:41PM (5 children)
Silicon Valley Democrat’s bill would give the IRS more money to audit millionaires, corporations [cnbc.com]
Take a wild guess at who voted against it!
(Score: 2) by Runaway1956 on Wednesday April 06 2022, @04:19PM (4 children)
That will pass about the same time that congress outlaws congressional insider trading, I imagine. But it's a step in the right direction.
Was the bill reintroduced when the Dems took control of both houses and the White House? No? It would seem that the whole thing was a charade, aimed at winning some voter support. They aren't serious about passing such legislation unless the push it through before the midterms. Dems are always pulling PR stunts like that. Read more Fusty journals.
Abortion is the number one killed of children in the United States.
(Score: 2) by DeathMonkey on Wednesday April 06 2022, @05:50PM (3 children)
That will pass when you and you pals stop voting for the people who are blocking it.
(Score: 1, Troll) by Runaway1956 on Wednesday April 06 2022, @07:03PM (2 children)
Which part of the following statement do you fail to understand?
Democrats control both houses, as well as the White House. If Democrats really, really, really want to pass a law right now, they will pass it. Again, get more FustyCracker. The Dems want you to believe they are trying to pass a law.
Abortion is the number one killed of children in the United States.
(Score: 0) by Anonymous Coward on Thursday April 07 2022, @06:00AM (1 child)
You have run out of people to talk on this website and now only morons like deathmonkey are left.
(Score: 2, Troll) by Runaway1956 on Thursday April 07 2022, @06:16AM
So, you're a moron like Deathmonkey? Thanks for the tip, I guess. I didn't realize he was a moron. All this time, I thought he was just bullheaded, obstinate, and wrong.
Abortion is the number one killed of children in the United States.
(Score: 0) by Anonymous Coward on Wednesday April 06 2022, @07:06PM (1 child)
Does stock compensation count as par-value, or will it be based on share-value? (1000 shares of TSLA as compensation with a par value of $0.001 counts as $1 income, not $1,050,000). It would be unfair if I had to pay income taxes on stock-compensation because it would require me to sell that stock to pay it, and that's not fair. Especially since there's a required holding-period and possibly even clawback clauses attached to that compensation.
Can I deduct the full $10,000 of mortgage interest AND $10,000 of property taxes from my income, or is that capped to $10,000 combined? Are maintenance costs for my jet deductible? If not, why?
Would R pols be on board with raising the top-tier? Either way, it still doesn't address the Musk/Bezos situation of wealth growth with no income.
(Score: 0) by Anonymous Coward on Wednesday April 06 2022, @08:21PM
Are you seriously engaging a Runaway tax legislation proposal? Have you gone mad? Shirley you cannot be Sirius! Progressive tax policy is just the deep Runaway democrat leaking through decades of Fox News mind-control, so it will wither and any such proposals will be blocked by Waltons and Sen. Tom Cotton. Viva la Arkansas!
(Score: 0) by Anonymous Coward on Thursday April 07 2022, @03:47AM
I'm with you, comrade. We can do it together. All power to the rank-and-file committees!
(Score: 1, Insightful) by Anonymous Coward on Wednesday April 06 2022, @04:42PM (2 children)
Do you pay taxes on your 401(k) every time the market goes up? If not, you’re one of these evil tax avoiders.
(Score: 2) by DeathMonkey on Wednesday April 06 2022, @05:55PM
There are currently zero unrecognized capital gains taxes in this country so no, I don't pay them or avoid them.
And of course, he definitely doesn't make any income off any of those high profile businesses he founded. Nope, he's just living off all that money he got out of his 401(k). In one single transaction. That happed once.
(Score: 2) by Runaway1956 on Wednesday April 06 2022, @07:06PM
Wrong question. 401(k) is a scheme for tax-deferrment, with limitations on how much you can invest in it. You will pay taxes on those capital gains, at some point in your life. Or, after your life. Uncle WILL get his cut. There is a tremendous difference between a tax deferment and a tax exemption.
Abortion is the number one killed of children in the United States.
(Score: 0) by Anonymous Coward on Wednesday April 06 2022, @07:13PM
he should spend 11 billion on an army to banish people like you.
(Score: 0) by Anonymous Coward on Wednesday April 06 2022, @06:32PM
"musk says". Cool story, bro. I say I'm going to pay 12 billion in taxes this year. He also says he's poor and homeless. Really. He is unable to afford anything more expensive than top ramen, which is why it's unfair for him to have to pay taxes, but he is somehow able to purchase over 2 billion dollars of stock within a month.
Take anything he says with a double table-spoon of salt. He's a bit out of touch with reality or simply on a different plane of existence, presumably related to asperger syndrome
(Score: 3, Touché) by acid andy on Wednesday April 06 2022, @02:42PM
Dude, I feel for ya with all those downmods. Truly, this is the Church of Muskiness.
Master of the science of the art of the science of art.
(Score: 0) by Anonymous Coward on Wednesday April 06 2022, @05:13PM (1 child)
Who authorizes appointments to the board of directors? The CEO? Isn't that like appointing your own boss? Is any shareholder approval involved? Last I checked, the directors report to shareholders...
(Score: 0) by Anonymous Coward on Wednesday April 06 2022, @05:44PM
And that would be Musk.
(Score: 1, Funny) by Anonymous Coward on Wednesday April 06 2022, @06:51PM
Buy 10% of the SEC and get on their board... that'll solve all his problems.