Good morning everyone…
In April, I thought I was writing my last blog post about Twitter as a public company and was thrilled about it.
As for Twitter…good riddance for now as a public company. They sucked at it. I don’t care why anymore.
Fred Wilson is a much more diplomatic than me regarding Twitter in his thought post on what Twitter should do:
Certainly being a public company has not been the right ownership model to make the big fundamental changes which are badly needed.
Twitter has become that millennial kid that boomerangs back to his/hers parents house after you paid for college and a graduate degree. You can’t get rid of it.
Twitter should and must press Musk to perform on the deal.
Right now Musk owes Twitter $1 billion in a break-up fee.
They should assume he won’t pay it.
Not only has Musk not paid his bill, he is using the service/site to promote all his other ‘companies’ and ‘products’ as we speak. This morning he is using it to mock and threaten Twitter.
In any other vendor/customer situation where a $1 billion bill was owed (say your local town hall/bar), you would be denied access until the bill was paid.
A simple change to the terms of service…something Twitter has done a thousand times to keep one clown on or kick one clown off that reads:
If you owe Twitter $1 billion (for instance in a merger break-up fee), we have the right to terminate your account and any related corporate accounts (and include the wiring information).
If Apollo, KKR or Blackstone are listening…hit me up and let’s bid $35. I have a great plan for a 500 person Twitter that will gush with cash.