buying a simple ownership stake in Twitter is turning into an episode of "Days of Our Lives." Now, we wake up to Twitter CEO Parag "Stefano DiMera" Agrawal announcing Musk will NOT be joining Twitter's board of directors. No, I don't think the story is going to end there.
To recap, a week ago, it was announced Musk bought close to 10% of the bird app. The next day, Agrawal announce Musk was taking a seat on the board of directors. A few days of
hissy fits from Twitter employees
trolling by Musk on Twitter
followed. Musk was supposed to start on the 9th (Saturday). Yesterday, this statement was released:
Here's what stands out from Parag's statement to me (emphasis mine):
what I can share
about what happened."
Methinks there's more to the story.
his is for the best
Ok, there is definitely more to the story
will be distractions ahead
That's the most interesting part of the statement. Already, the internet is talking about how this
could open the door for a hostile takeover from Musk
. Part of the deal announced last Monday was that Musk couldn't purchase more than 15% of the company (he currently owns just under 10%). If Musk isn't on the board, he could buy up as much as he wants. It was agreed upon when the announcement was made. Something changed over the course of four days.
It's a question of WHAT changed. It could be as simple as Musk has already grown bored and doesn't want to do this anymore. Twitter could have cried and whined to Parag. The board may have thought naming Musk to the board would let them control the billionaire but found out the hard way it was a stupid thought.
Or there was a major disagreement at the last minute (the "distraction ahead"), and Musk walked away, free to either start gobbling up more stock or do nothing but troll the company on the platform of which he owns the most shares until they find a reason to permanently suspend him. We won't know for sure until Musk tweets about it or sits down for an epic edition of the Joe Rogan Experience.