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Comment on It's real. Twitter Shadowbanning is back.

TWeaK@lemm.ee ⁨1⁩ ⁨year⁩ ago

Well that was the whole point. His old friend Peter Thiel and others failed to set up a competing service against Twitter, so now they’re undermining Twitter. Either Twitter steps into line and becomes what they want it to be, or it dies due to the $13bn debt/tax avoidance scam that Musk performed.

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GigglyBobble@kbin.social ⁨1⁩ ⁨year⁩ ago

$13bn debt/tax avoidance scam that Musk performed

Since I don't follow Musk, please elaborate. I hope, you don't mean his buying an unprofitable company for $40B was to avoid taxes...

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- flipht@kbin.social ⁨1⁩ ⁨year⁩ ago
  Overpaying and then destroying the value means that eventually, he will be able to claim losses on his taxes. This will allow him to reduce his tax liability for his profitable businesses.
  
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  - GigglyBobble@kbin.social ⁨1⁩ ⁨year⁩ ago
    Sure but it doesn't make sense to destroy more capital than you're liable in taxes.
    
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- TWeaK@lemm.ee ⁨1⁩ ⁨year⁩ ago
  No. I’m referring to the $13bn out of the $44bn purchase price that Twitter paid itself. As Twitter is now deep in debt, it won’t be making a profit any time soon, so there will be no tax paid on that $13bn purchase.
  
  The $44bn purchase is broken down more or less as:
  
  $26bn by Musk ($20bn of which was from Tesla shares),
  
  $5bn from other investors, including that Saudi prince,
  
  $13bn in a loan that Twitter took out to buy itself on behalf of its new owners.
  
  The process is known as a leveraged buyout, and it’s what’s killed many staple businesses that were otherwise perfectly viable, eg Toys R Us.
  
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  - MyFairJulia@lemmy.world ⁨1⁩ ⁨year⁩ ago
    Dear Elon,
    
    You say you hate socialism yet you socialized around 40% of the acquisition money.
    
    Curious.
    
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