A fresh trove of text messages between Elon Musk and Twitter executives, close friends, potential investors and Silicon Valley brothers shed light on how a $44 billion (nearly Rs. 3,58,100) deal crore) by the richest person in the world to buy the social media company happened – and ended up in court.
The texts show who wanted to be part of the takeover and reveal the inner circle’s thoughts on who should lead the company if Musk becomes the owner. They were disclosed as part of Twitter’s lawsuit to compel Musk to follow through on its offer of $54.20 (almost 4,400 rupees) per share, which is expected to go to trial in Delaware Chancery court next month. .
Among the many texts, Musk reveals that he “has a minor case of COVID” at the end of March, is usually “until around 3 a.m.” and no longer has a personal assistant.
Here are 10 behind-the-scenes insights.
1. Jack Dorsey, former CEO of Twitter, worked to get Musk to join the board shortly after activist investors began campaigning for change at the company in 2020.
“I did my best to get you on our board, and the board said no,” Dorsey wrote. “It was around then that I decided I had to work my way out, as hard as it was for me.”
Dorsey is “jack jack” on Elon’s phone.
2. Musk’s relationship with Twitter CEO Parag Agrawal went from friendly to frosty in a week. On April 5, Agrawal tweeted that Musk was being named to Twitter’s board – and won Musk’s approval for the tweet’s language.
But on April 9, the tone had changed dramatically. Agrawal criticized Musk for his tweets disparaging the company.
“You’re free to tweet ‘is twitter dying’ or anything else about twitter – but it’s my responsibility to tell you that it doesn’t help me make twitter better in the current context. I would like to provide your perspective on the level of internal distraction at the moment and how it [sic] affect our ability to work.
“What have you been doing this week?” Musk shot back.
“I’m not joining the board. This is a waste of time,” he wrote 40 seconds later.
“Make an offer to make Twitter private,” he texted 15 seconds later.
3. Minutes later, Musk texted President Bret Taylor about fixing Twitter. The texts suggest he was already aware of the Twitter bot issue, which he would later cite as a reason to drop the deal.
“It’s hard to do as a public company because purging fake users will make the numbers look terrible, so the restructuring should be done as a private company,” Musk wrote. “That’s Jack’s opinion too.”
4. On April 20, Musk texted Oracle’s Larry Ellison.
“Are you interested in participating in the Twitter deal?” He asked. Ellison said yes. Musk asked how much.
“A billion…or whatever you recommend,” Ellison replied. Musk recommended $2 billion (almost Rs. 16,300 crore). On April 24, Ellison said: “Since you think I should make at least $2 billion. I’m for $2 billion.
5. Several of Musk’s friends had ideas about who Musk should hire. Investor Bill Lee suggested Bill Gurley of Benchmark Capital. Jason Calacanis noted that “CEO of Twitter is my dream job”.
6. Joe Rogan was a fan of the case. “I REALLY hope you have Twitter,” the oversized podcaster wrote. “If you do, we should throw one hell of a party.”
7. Steve Jurvetson suggested Musk hire Emil Michael, the former chief commercial officer of Uber Technologies, and texted Michael’s LinkedIn account.
“I don’t have a LinkedIn account,” Musk replied.
8. CBS’ Gayle King asked Musk for an interview in April, saying the Twitter buyout was what the kids call a “gangsta move” and suggesting Oprah Winfrey might want to join the board. King said she would like a Twitter edit button.
“Twitter edit button is coming,” Musk replied.
9. Musk warned Calacanis against offering to invest in the “randos” deal.
It “makes me feel desperate,” he said.
Calacanis said he just wanted to lend his support: “You know I’m gonna ride or die bro.”
10. In March, crypto billionaire Sam Bankman-Fried tried to get in touch with Musk through an associate to discuss a deal for Twitter. Musk appeared indifferent – and oblivious to Bankman-Fried’s wealth, asking: “Does he have huge sums of money?”
Eventually, he warmed to the idea, “as long as I don’t have to have a tedious blockchain debate.”
It is not known if they met.
© 2022 Bloomberg LP