EMERGENCY POD: ELON BUYING TWITTER - Our Reaction and Explanation (Hilarious)

**SPEAKER_1** (0:00)
Okay, so you don't like to lose. If in this case, you are not successful in, you know, the board does not accept your offer, you've said you won't go higher. Is there a plan B?
There is.

**Sam Parr** (0:28)
All right, we're live, breaking edition. Shaan just texted us and said, we gotta do this Elon thing.
Sounds like you've got a lot of opinions, or you have a lot of opinions.

**Shaan Puri** (0:39)
I got some opinions. I got some opinions for sure.
First, let's summarize what happened and then tell me how you, I guess like how you initially heard about it and how you reacted to it when you first heard.

**Sam Parr** (0:50)
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So let's start from like, all right, so the weeks and months and years ago, Elon has always criticized Twitter saying how he loves it. And I actually think he's one of the top 10 most followed accounts in the world. And of the top 10, he's one of the few that is actually actively posting as a normal person would. And he's criticized Twitter for doing some, for banning free speech, things like that, for basically being too liberal. He didn't ever say that word, but that's kind of what he's getting at.
And about 10 days ago or a week ago, he bought 9% of the company.
And then he announced that he was gonna join the board of directors.
And the weekend after he announced that he was joining the board of directors, he started posting things like, let's turn Twitter's HQ into a homeless shelter. I actually lived next door to Twitter's headquarters in at 9th and Market a couple years ago. And it's basically like no one's there because the pandemic shut down that area of the city and it's full of homeless people. And he said, let's shut down Twitter HQ and turn it into a homeless shelter. He tweeted another thing.

**Shaan Puri** (2:30)
Because nobody's going to work anyways.

**Sam Parr** (2:32)
Yeah, because no one's going to work anyways.

**Shaan Puri** (2:34)
Employees don't go anyways.

**Sam Parr** (2:35)
So he took it, it was two jabs that he took. And then also he said, should we create an edit button, yes or no? And he tweeted basically three or four things like that.
Then on Sunday, or sorry, last, on Sunday night, he was supposed to join the board on Monday. He said, I'm not joining the board.
And to a couple of people, or people who are a little bit in the know of this kind of granular stuff, they said, well, the reason he's not joining the board is when you join the board of a company like this, you can't own more than 14%. And so by not joining the board, he can now buy the whole thing. And that happened on Monday. It's Thursday morning.

**Shaan Puri** (3:13)
First they were playing patty cake with each other. He's like, the news comes out.
Then it's like the CEO of Twitter, Parag is like, hey, so happy to have Elon Musk on our board. He's the best.
Jack Dorsey says, so glad to have Elon on our board. Elon says, so glad to be on the board, Jack. You know, they're all playing patty cake. And then one day later, or two days later, something like that, it becomes, he's actually not joining the board. And he basically goes hostile.

**Sam Parr** (3:42)
And now at 6 a.m. 7 a.m. this morning, it was announced that he was going to buy Twitter.
Right away when he bought 9% of the company, I think the stock jumped 10% the day he did it. But its current valuation was like 43 billion. And I think he offered to buy it at 53 billion, give or take, I forget the exact amount, but it was a nice premium, not a huge premium, but a nice premium. And here we are now waiting for what's gonna happen next.
And by the way, I think Jack Dorsey, I do actually think he was somewhat genuine. I think the CEO of Twitter was not genuine. That guy doesn't even tweet, like he's not even a user. Like have you ever read his tweets? Like he just tweets like screenshots of PDFs.