Posted on 04/16/2022 3:45:52 PM PDT by Macho MAGA Man
In the ongoing public battle over Twitter as a speech platform, one actual user of Twitter, Chris Bakke, wanted to see who exactly these Board of Directors are, who are attempting to stop Elon Musk from purchasing it.
Chris Bakke then noted how little the actual stock is owned by the company’s Board of Directors. Sans Twitter Founder Jack Dorsey, the combined ownership of the entire board equates to 77 shares of stock, worth around $3,200 bucks.
The Board of Directors [SEE BoD LINK HERE] consists of academics, tech executives, business and policy wonks, and a random baroness who doesn’t even use the service. These are the people who are making fiduciary decisions for all Twitter stock owners without any financial stake in the decisions they make for the company.
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Further evidence the motivations behind the Twitter board have nothing to do with stewardship for their shareholders. Again, this is yet another datapoint highlighting the background structure of Twitter that Musk is exposing.
Twitter is not making a decision to decline the generous offer by Elon Musk because of stewardship or fiduciary responsibility to shareholders. The financials of Twitter as a non-viable business model highlight the issue of money being irrelevant. Twitter does not and cannot make money. Growing Twitter only means growing an expense. Growing Twitter does not grow revenue enough to offset the increase in expense.
There is only one way for Twitter to exist as a viable entity, people are now starting to realize this.
What matters to the people behind Twitter, the people who are subsidizing the ability of Twitter to exist, is control over the global conversation.
Control of the conversation is priceless to the people who provide the backbone for Twitter.
Once people realize who is subsidizing Twitter, everything changes.
That’s the fight.
(Excerpt) Read more at theconservativetreehouse.com ...
Maybe they should invite Musk to become chair and help appoint an entirely new board.
White Collar Welfare for the Deep State.
This exposes the reality.
The purpose of Twitter is control of thought.
If poses as a "for profit" enterprise.
Similar to many of the mainstream media. CNN is a good example.
They are engines of control, not engines of profit.
I have been saying the primary purpose of most media has become political power, rather than money, for some time.
Nice job Elon.
Hope this 77 share issue holds up.
The SEC should shut down Twitter as a fraud company.
Wow that is really eye opening!
If one reads (and believes) the comments below the article, the assertion is inaccurate, in that Board members received stock grants worth close to $230,000 each during 2021 (alone). However, they may not yet be fully vested...
How much of Twitter’s revenue comes from the Feds and the fed funded NGOs?
If they have been vested, they may have been sold.
What this is really saying to the common stockholders is “The poison pill is for thee and not for me.” If you don’t own shares, there’s nothing to dilute. It’s easy to be noble when you’re risking other people’s money.
You don’t think it could be...????
If this is true, let the shareholder lawsuits against the Board begin!
ROFLMAO! Musk learned from the best.
Once media power is separated from the profit motive, they become unaccountable.
I love it when random people on the internet tell the richest man in the world what he should or should not do, but so long as we’re indulging in fantasy billionaire games... I’d love to see what he could do with his access and wealth to just reveal the world of megacorporations and political corruption to the world, Project Veritas style.
Whatever happens with Twitter, the whole world got a chance to see stuff that can no longer be claimed as untrue. I mean, it still will, but how is Twitter stock going to stay up with the unanimous decree from the board that if someone tries to challenge the board that they will tank the small shareholder investments in order to consolidate vanguard and Blackrock control?
Musk didn’t need to put undercover journalists in danger either, all he needed was a few tweets... and a spare 40 billion dollars.
I’ve long thought of Twitter as the successor to Ezra Klein’s JournoList.
They could get grants/options every year and once they vest, the sell the stock.
Plus this is not a normal board when you have the creator (Dorsey) of the company on the board.
What Musk is doing is fantastic...and should happen with more companies.
To bad the SEC is in on the take. Deep State all the way.
Humblegunner..is that you ?
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