Elon Musk has finally managed to buy Twitter. And the moment he did, the enraged Left flipped out.
Abruptly leftists began trashing their favorite electronic communications platform as the domain of the nation’s elite, professional classes. Had they just discovered that they had been racists and privileged users all this time?
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Thursday morning on The Tennessee Star Report, host Leahy welcomed New York City attorney Akiva Cohen to the newsmaker line to comment upon the Elon Musk, Twitter buy, next steps, and anti-trust law.
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The reaction among the press and tech communities to Elon Musk’s efforts to purchase Twitter has been nothing short of apocalyptic. A common theme has been that democracy itself would be under threat if unelected billionaire oligarchs controlled what was allowed online. Yet this is precisely how social media works today. The Musk controversy, like the Cambridge Analytica story before it, highlights the real issue: the fight over content moderation is less about online safety and more about who controls the digital public square.
Only a year ago, the media cheered the unilateral decisions by a handful of billionaires to effectively banish then-President Donald Trump from the digital public square. Lawmakers and media outlets alike proclaimed the societal benefits of private companies controlling the digital public square beyond the reach of government. In contrast, the possibility of a libertarian-leaning billionaire like Musk wielding that same power has been presented as nothing short of an attack on democracy itself.
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Tuesday morning on The Tennessee Star Report, host Leahy welcomed official guest host Grant Henry in studio for another edition of Grant’s Rants.
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Billionaire Elon Musk reached a deal Monday to purchase social media giant Twitter for a sum of $44 billion.
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk said, per Reuters.
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Here’s your first clue Twitter is not really a business with a fiduciary duty to maximize shareholder value – when Elon Musk made a public offer to buy the company for $54.20 a share (roughly $40 billion) the company’s management not only turned down the offer, but began to work on a poison pill defense aimed solely at Mr. Musk, who is already Twitter’s largest shareholder.
According to reporting by the New York Times, some investors and Wall Street analysts said that Mr. Musk’s offer of $54.20 a share was too low, and that he would need to go to at least $60 a share to appeal to shareholders. That would be 25 percent higher than the share price when Mr. Musk announced this month that he had acquired a 9 percent stake in Twitter.
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Twitter’s board of directors on Friday unanimously adopted a plan to stop Tesla CEO Elon Musk’s plan to take private the social media company.
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Monday morning on The Tennessee Star Report, host Leahy welcomed all-star panelist Ben Cunningham to discuss the tyranny of social media companies and their censorship of conservative voices.
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In a move that has sent shockwaves through Silicon Valley, Tesla founder and CEO Elon Musk, who became Twitter’s largest shareholder Monday, will now be a member of the company’s board of directors.
“I’m excited to share that we’re appointing [Musk] to our board! Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board,” Twitter CEO Parag Agrawal said Tuesday.
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Tesla CEO Elon Musk, who has questioned Twitter’s commitment to free speech, has taken a 9% stake in the social media platform, making him its largest shareholder.
Musk bought 73.5 million shares worth $2.9 billion, based on the closing price Friday, the Associated Press reported Monday.
However, what Musk intends to do as a result of the purchase remains unclear.
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House Speaker Nancy Pelosi’s husband purchased 2,500 shares of Tesla stock amid Democrats’ push for increased green energy spending.
Paul Pelosi, the Democratic House leader’s millionaire husband, purchased the tranche of Tesla stock on Thursday, when the company’s share price reached about $872 per share by the end of day, according to congressional filings published Monday. Pelosi bought the shares, worth roughly $2.18 million at the time, at a strike price of $500 per share.
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A recent report claims that the world’s top 10 richest men all saw their wealth double over the course of the Coronavirus pandemic, while 99 percent of global income dropped dramatically during the same period.
As reported by ABC News, a study published on Monday by the group Oxfam showed that the collective wealth of the top 10 doubled from approximately $700 billion to over $1.5 trillion between March of 2020 and November of 2021. During that same time, over 160 million people fell into poverty as incomes plummeted. The increase for the top 10 in less than two years represented a greater increase for their wealth than their growth over the previous 14 years combined.
The 10 men who were the focus of Oxfam’s study were: Elon Musk, Jeff Bezos, Bernard Arnault, Bill Gates, Larry Ellison, Larry Page, Sergey Brin, Mark Zuckerberg, Steve Ballmer and Warren Buffett. The data for the study was gathered from the World Bank.
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Investment bank JP Morgan filed a complaint against Tesla late Monday alleging the electric car company owes the firm over $162 million.
The complaint centers on stock warrants, financial instruments allowing a buyer to purchase shares at a set price within a certain length of time, that JP Morgan bought from Tesla in 2014. The two firms agreed to a “strike price” at the time of purchase, and they agreed that if Tesla’s share price exceeded the strike price within the agreed-upon length of time, the electric car company would have to give JP Morgan stock or cash equivalent to the difference in prices, JP Morgan said in the complaint.
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Tesla CEO Elon Musk announced on Thursday that the company will be moving its headquarters out of California and into Texas, according to CNN.
“I’m excited to announce that we’re moving our headquarters to Austin, Texas,” Musk announced to a shareholders’ meeting on Thursday. The company, which specializes in electric vehicles, had been based out of California since its foundation in San Carlos, with its first factory built in Fremont and its current headquarters located in Palo Alto.
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A letter written by current and former employees of Jeff Bezos’ rocket company Blue Origin took aim at the company’s workplace culture.
The letter, posted on website Lioness and written by former Head of Blue Origin Employee Communications Alexandra Abrams along with 20 unnamed current and former employees, criticized the company’s culture and work environment as “stuck in a toxic past.”
“One-hundred percent of the senior technical and program leaders are men,” the employees wrote, bashing the Blue Origin workforce for being “mostly male and overwhelmingly white.”
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Jeff Bezos became the second billionaire to successfully reach outer space this month when his Blue Origin New Shepard spacecraft exited the atmosphere Tuesday, the latest development in the ongoing space race between Bezos, SpaceX’s Elon Musk, and Virgin Galactic’s Richard Branson.
Branson was the first billionaire in space last week when he and several crew members aboard his VSS Unity spaceplane successfully flew to an altitude of 53.5 miles. His company Virgin Galactic, founded in 2004, is developing commercial spacecraft to be used in suborbital flights for those seeking a trip to outer space. Musk’s SpaceX, founded in 2002, has been at the forefront of the private space industry for over a decade, with Musk planning a mission to Mars as early as 2024.
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Virgin Hyperloop One will build a certification center in West Virginia for the high-speed transportation concept that uses enclosed pods to zip passengers underground at over 600 mph (960 km/h).
The company had received bids from more than a dozen states in the past year to build a 6-mile (9.7-kilometer) testing track and other safety facilities over hundreds of acres for the electromagnetic levitation transportation technology.
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by Chris White Tesla CEO Elon Musk predicted Tuesday that the electric vehicle automaker will begin producing purely self-driving cars by the end of 2019. The mercurial tech guru has made similar predictions in the past. Musk argued in 2015 that his company would complete a self-driving feature within two years; it never happened. He’s now doubling down on that forecast. The Silicon Valley billionaire told Cathie Wood and Tasha Keeney of ARK Invest that he is certain of this prediction. “I think we will be ‘feature complete’ on full self-driving this year, meaning the car will be able to find you in a parking lot, pick you up, take you all the way to your destination without an intervention this year,” Musk said, referring to Tesla’s long-awaited self-driving feature. “I am certain of that. That is not a question mark.” Musk did add one important caveat. The speed at which customers adopt the technology depends on the rules regulators hammer out for such vehicles, he said. “My guess as to when we would think it is safe for somebody to essentially fall asleep and wake up at their destination? Probably towards the end of next year,” Musk added.…
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An ongoing feud between one labor union and an automaker may cost thousands of jobs in Lordstown, Ohio. The Lordstown Assembly Complex in Lordstown, Ohio has been the lifeblood of that town since 1966. Currently, the factory is owned and operated by General Motors, while the workforce is represented by the United Automobile Workers, an international worker’s labor union. In late November, GM announced that the factory, along with four others in the US, would close in 2019. In the months following the announcement, there has been a furious battle to save the plant in any capacity. Very early on in the effort, then-outgoing Governor John Kasich, made it clear that the future of the plant would be with an “alternative” to GM. This statement seemed to make it clear that that was no chance GM would keep the plant open while indicating that the only future for the facility would be with another company. Kasich then began reaching out to Tesla Motors CEO; Elon Musk who expressed interest in Tesla acquiring the plant. For months, this was as far as the public knew negotiations had gone. Then, in January, GM CEO Mary Barra revealed that there were no ongoing negotiations with Tesla for a…
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Electric car and solar panel maker Tesla said Friday it plans to cut its staff by about seven percent. “The road ahead is very difficult,” the company’s founder and CEO Elon Musk said in an email to employees posted on the company’s website. He said Tesla Inc. hopes to post a “tiny profit” in the current quarter but that after expanding its workforce by 30 percent last year, it cannot support that size of staff. Musk said in a tweet in October that Tesla had 45,000 employees. A seven percent cut would involve laying off about 3,150 people. Tesla’s shares tumbled earlier this month after it cut vehicle prices by $2,000 and announced fourth-quarter sales figures that fell short of Wall Street estimates. “Our products are too expensive for most people,” Musk said in the memo to Tesla staff saying the company has to “work harder.” “Tesla has only been producing cars for about a decade and we’re up against massive, entrenched competitors,” he said. The company says it delivered over 245,000 electric cars and SUVs last year, nearly as many as all previous years combined. But its 2018 production fell far short of a goal set nearly three years…
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Thursday, December 20th, Tesla CEO, Elon Musk, gave his first public response to Governor John Kasich’s multiple attempts to reach him in the hope of saving the Lordstown Assembly complex in Warren, Ohio. On November 26th, General Motors announced that the 6.2 million square foot auto manufacturing facility, along with four additional plants nationwide, will be closing in 2019. The plant currently employs over 1,500 Ohioans who would all be laid off, should the factory cease operations. Following the decision, a coalition of union leaders, factory workers, and community members, known as Drive it Home, formed almost immediately to challenge the move. In 1998, when GM announced plans the close the plant, a similar coalition called Bring it Home successfully arranged for GM to keep the plant open, albeit at a more modest production level. While many are hopeful that GM can be convinced once again, in a November 29th statement (copied below) Governor Kasich announced that he, the GM Team, and JobsOhio would “explore alternatives” for the plant’s future, implying that GM was not likely to reopen the plant and if the plant had a future, it would be with another company. In a December 7th teaser for a full segment…
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by Chris White NASA is ordering an investigation into SpaceX’s culture and commitment to safety after company CEO Elon Musk took a hit off a marijuana cigarette in September on a livestreamed podcast. The agency’s review will look at both Boeing and SpaceX, both of which are responsible for transporting astronauts to the International Space Station. Officials will examine anything that would impact safety, The Washington Post reported, citing unnamed officials. NASA’s move comes after top officials complained after Musk smoked weed on a Sept. 7 episode of “The Joe Rogan Experience” while attempting to explain why he sometimes gets caught in Twitter battles with his critics. His behavior during the podcast prompted the probe, officials told WaPo. NASA Administrator Jim Bridenstine reiterated those concerns. He told reporters that the agency wants to reassure the public that transporting astronauts into space is safe. “If I see something that’s inappropriate, the key concern to me is what is the culture that led to that inappropriateness and is NASA involved in that,” he said. “As an agency we’re not just leading ourselves, but our contractors, as well. We need to show the American public that when we put an astronaut on…
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by Chris White Billionaire tech guru Elon Musk agreed to step down as the chairman of Tesla after the Securities and Exchange Commission sued the electric vehicle company for fraud, according to court documents published Saturday. Musk, who owns roughly 20 percent of the company, also agreed to pay a $20 million fine in connection with a tweet he wrote in August telling followers that he had enough funding to take Tesla private, the documents note. He neither admitted nor denied the allegations the SEC leveled against him. The SEC has spent months probing whether Musk’s promise was designed to hurt short-sellers at the expense of new investors. Musk gets to retain his position as CEO, but the move could drastically affect the company’s structure. He told his Twitter followers in an Aug. 7 post that he had sufficient funding to take the company out of the public domain. Reports about Musk’s tweet came shortly after a source told The Financial Times that the Saudi’s Public Investment Fund (PIF) bought share of Tesla. The PIF’s position is worth between $1.7 billion and $2.9 billion at Tesla’s current share price. The stake makes the fund one of Tesla’s eight biggest shareholders. Musk used recent discussions with…
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Tesla CEO Elon Musk is considering leading a buyout of the electric car maker in a stunning move that would end the maverick company’s eight-year history trading on the stock market. In his typically unorthodox fashion, the eccentric Musk dropped his bombshell on his Twitter account, which he has used as a platform for pranks, vitriol and now for a proposal to pull off one of the biggest buyouts in U.S. history. Musk got the ball rolling Tuesday after the stock market had already been open more than three hours with a tweet announcing he might buy all of Tesla’s stock at $420 per share with no further details. At that price, the buyout would cost nearly $72 billion, based on Tesla’s outstanding stock as of July 27, but it’s unlikely the deal would cost that much because Musk owns a roughly 20 percent stake in the Palo Alto, California, company. He also said he intends to give Tesla’s existing shareholders the option of retaining a stake in the company through a special fund, if they want. “Am considering taking Tesla private at $420. Funding secured,” Musk wrote in his first tweet, following up with “good morning” and a smiley…
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Patience was in short supply during the leg-jiggling, finger-tapping, tension-filled hours before the launch of the Falcon Heavy, which would, if successful, become the most powerful operational rocket on the planet. From thousands of miles away viewers obsessively checked Twitter for live updates from the hundreds of reporters and thousands of visitors who showed up to witness history.
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Ready set go. Elon Musk still really wants to put people in a canister, set off a controlled explosion beneath them, and shoot them out of the Earth’s atmosphere towards a barren, airless piece of rock—preferably one 33 million miles away. On Friday at the International Astronautical Congress in Adelaide, Australia, Musk announced an updated version…
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