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Re:The Email Caste's Last Stand by _jal on Tuesday November 08, 2022 @01:02PM (#33522068)
This is a real-time history rewrite.

"Once he got access to the company’s finances, the Tesla boss realized it was losing millions of dollars every day [...]"

He knew it would be losing $millions/day because he forced the situation that created the debt.

I stopped reading at that point, not interested in dissecting how a beat-sweetener slides into obsequious myth building.

Re:The Email Caste's Last Stand by drewcoo on Tuesday November 08, 2022 @01:10PM (#33522169)
> He knew it would be losing $millions/day because he forced the situation that created the debt.

No. He knew about the company's finances because that's part of M&A due diligence.

https://morganandwestfield.com/knowledge/due-diligence-check...

Re:The Email Caste's Last Stand by sulam on Tuesday November 08, 2022 @01:22PM (#33522342)
The $4M / day that Musk says Twitter is losing is comprised of $3.2M in cash to service the debt and $.8M other losses.
Re:The Email Caste's Last Stand by judge2020 on Tuesday November 08, 2022 @01:14PM (#33522223)
OP is making a point that Twitter is now saddled with ~13 billion in debt, with 1.2B in interest payments now required over the next 12 months[0].

> Musk and his co-investors collectively cut a check for more than $30 billion of their own money for the Twitter deal. That money would be at risk if Twitter required a debt restructuring down the line.

0: https://www.reuters.com/markets/deals/twitters-massive-reven...

Re:The Email Caste's Last Stand by sp332 on Tuesday November 08, 2022 @01:12PM (#33522196)
Re:The Email Caste's Last Stand by _jal on Tuesday November 08, 2022 @01:11PM (#33522183)
No. The $13B debt he saddled Twitter with did not exist during the due diligence phase, which he also waived.

Word was prior to the takeover, their debt was on the order of $200M.

Re:The Email Caste's Last Stand by judge2020 on Tuesday November 08, 2022 @01:16PM (#33522255)
Based on this Reuters article[0], it was more around $5.3B, but they were only losing 200M/yr.

> It's not clear how much of the $5.29 billion debt Twitter had before the acquisition was refinanced or remained with the company. It's also not clear how much of the $2.7 billion in cash that Twitter held as of the end of June it got to keep once it went private.

0: https://www.reuters.com/markets/deals/twitters-massive-reven...

Re:The Email Caste's Last Stand by _jal on Tuesday November 08, 2022 @07:03PM (#33525940)
Ah, thanks for the correction.