The thing is the added complexity that the plaintiff is adding is just going to extend out the entire process. The filing indicates something like a 60% loss of ad revenue. Even if the case runs smooth as butter, there's no way Musk can get access to the money he's seeking in time to cover the massive loss plus the huge debt obligations he's sacked the company with already.
There's zero ways restitution from this case would ever give the company enough head above water quick enough to prevent drowning in debt.
Elon Musk said Monday that X, formerly known as Twitter, has “no choice” but to file a defamation lawsuit against the Anti-Defamation League amid an ongoing slump in advertising revenue.
“Based on what we’ve heard from advertisers, ADL seems to be responsible for most of our revenue loss,” Musk wrote on Monday. “Giving them maximum benefit of the doubt, I don’t see any scenario where they’re responsible for less than 10% of the value destruction, so ~$4 billion.”
How to avoid being antisemitic, step one: Don’t blame your incompetence and piss poor judgement on “the Jews.”
I’m no accountant, but I have to imagine when he’s talking about “value” it’s not exact loss of sales, but something more like “projected sales for the next 10 years” or something.
There’s no way Twitter, a company that was overvalued at $43 billion, was also making $40billion a year in advertising sales.
He seems to be saying that the market value of Twitter is $40B less than what it was before stuff happened. "Value destruction" tends to be applied to "stock" (like market cap) rather than "flow" (like revenues).
He's basically saying Twitter is worth $4B, given that he paid $44B and seems to be saying $40B of values was destroyed.
Losing $40B in less than a year is, uh, remarkable.
The kind of gymnastics that apparently develop when you’re stupid rich and think you know better than everybody because you “made” some really smart-sounding companies.
What kind of mental gymnastics do you have to do to wind up there?
Remember, he grew up a rich white boy in full apartheid South Africa, and never matured beyond that. He has no ability for self-reflection or introspection. Which means he's never wrong, so someone else must be to blame. So far, that's included religious, racial, and sexual minorities. He's only going to grow more deranged as time goes on.
Twitter stockholders collectively received $44B from Musk on October 27. So, yes, Twitter was worth $44B at that moment. And, yes, it's also true that Musk grossly overpaid for a company probably worth around $10B because he made the most costly "420" joke in history. Both statements are simultaneously true.
I’m simply pointing out that the ADL are not paragons. They throw their weight around for their own political purposes. Just because bad guys say things you don’t like doesn’t mean they should not be allowed to say anything.
I agree, the ADL should be shut down for saying bad things about a job creator like Elon. Also, all the businesses that decided to stop buying ads on Elons site should also be shut down, it’s a blatant violation of the law for them to do that.
I’m on your side, sheesh. I’m sick of this woke cancel culture nonsense where businesses stop giving money Elon just because he “platforms Nazis”. They should be forced to keep giving him money. Now he has no choice but to take down the ADL.
If you want to run a troll account then great, whatever, but maybe actually look at what you’re responding to and gauge what you’re going to write instead of blanket assuming you know what the comment says without actually reading it first.
Terrible article. They provide no concrete examples, only empty platitudes. And it’s clear they’re extremely biased:
“The national ADL, like the ACLU, the NAACP, and other formerly “apolitical” civil rights groups, is now merely a tax-exempt cadre of the national Democratic Party. Anyone paying any kind of attention knows this. And as the Democratic Party has moved further into the fringes of Left-wing lunacy, the ADL has moved with it—whether a Jewish “antidefamation” issue is at stake or not. The party requires it.”
He calls every group defending civil rights “actually anti free speech” and suggests the ADL doesn’t do enough for Orthodox Jews, without again any evidence, because of “assimilated Jews”. This sentiment comes up again when he says that most Jews “reciprocate” the ADL’s supposed detestation of Judaism.
He’s just another religious conservative detached from reality. It’s actually quite concerning when a lawyer makes baseless claims about an anti defamation organization. I don’t know if it meets the legal definition of defamation, but it certainly gets the common usage for it. Anyone who’s ever been represented by this guy should get another trial, because this guy seems likely to prove your role in the murder in the process of trying to prove your innocence blaming liberals and judges for your arrest.
“You made me do it”! yells the abuser. This utter fucknut psychopathic narcissist can’t possibly consider that the lost ad revenue has anything to do with his turning twitter into 4chan.
Lol wat? 4chan is heaps better than twitter. There’s no cults of personality for example (well, there’s Chris Chan and Moot, but both were objects of fun ridicule). Attentin whoring ala twitter will net you a lot of shit too.
4chan is the single easiest social media to manipulate. You don’t have to have legitimate looking user accounts. You don’t have to post from different places. You don’t even really have to make sense.
You can just spam your narrative as much as you want.
There’s no cults of personality for example (well, there’s Chris Chan and Moot, but both were objects of fun ridicule).
This just perfectly encapsulates how little you know about 4chan, likely from some outdated youtube opinion piece about how its edgier and cooler than le normie websites
Like, literally use any board for 5 minutes and tell me how many times Chris-chan or moot is being discussed, let alone anything approaching a cult of personality.
One of the oldest most experienced groups at litigation against hate and defamation will have a field day with this. I would not be surprised to see X owing the ADL damages if Musk actually follows through.
This is as nearsighted as DeSantis starting legal battle with Disney.
Not even keeping, explicitly adding them back and unbanning them, and letting them make decisions to ban leftists who spoke out against it (andy ngo recommending people to the chopping block comes to mind)
How does he even do it? It’s like he’s on a zealous crusade to embarrass himself. I keep thinking “he can’t look any more foolish and shitty” and he fuckin KEEPS proving me wrong. It’s almost impressive at this point. He stays setting new PR for negative PR.
Imagine if you opened a restaurant, and I went around lying to everyone that you spit in the food. As a result, your restaurant loses business. Shouldn’t you have legal recourse to prevent me from spreading such lies about your business, and to recoup the losses you incurred?
I don’t mean to suggest that Musk has a valid case under the law, only to point out that the law in question is actually quite reasonable and necessary.
Whether the restaurant remains profitable is beside the point. If you can demonstrate that even one customer chose not to visit your restaurant as a result of my lies then I could be liable for defamation.
Suppose you were a business making, say, voting machines. It's a good business -- there are a lot of elections, they have to be tabulated, and you have a way of making that tabulation easier to do. You're not going to be Google or Microsoft, but you're in a comfortable niche.
Then comes a bunch of dumbfuck conspiracy theorists who accuse you of rigging the vote against their favored candidate. You're not happy about this, but this is just a bunch of nutjobs. To some extent, what can you do? Then this major news organization takes up what those conspiracy theorists are saying, and they're doing this to enrich themselves by putting out news that these dumbfucks like to hear. This amplification is damaging to your business (because it's costly to defend yourself and you're losing business anyway), and you can prove that this major news organization is doing this on purpose, for their own profit.
You sue that major news organization. Discovery is a delight, because these people really did know that there was no evidence for any of these conspiracy theories, but they kept repeating them over and over again, damaging your business.
Does this sound familiar? That's why we have laws so that victims of libel can recover some of those damages.
Now, I'm not saying Musk is justified. Musk can go threatening to sue, etc., and I'm sure ADL lawyers would be delighted to argue before a judge to tell Musk to fuck off, since he really doesn't have grounds to stand on.
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