Latest / Elon Musk Podcast / Twitter Sued : Claims Over $14 Million in Unpaid Bills

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Twitter Sued : Claims Over $14 Million in Unpaid Bills · Elon Musk Podcast

• 0:00
  Since Elon Musk took the reins of Twitter Inc, the social media
• 0:03
  giant has been hit with an increasing number of accusations
• 0:06
  that it's failed to pay his dues as it aims to reach
• 0:08
  profitability this year in recent months, landlords
• 0:11
  consultants and vendors have filed.
• 0:13
  Nine lawsuits against Twitter, claiming over 14 million
• 0:16
  dollars. Plus interest.
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  What are the plaintiffs demanding?
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  Payment? Is a vendor who claims to be
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  owed, nearly seven thousand dollars for a swag gift box for
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  Ilan which was ordered by Twitter's marketing department
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  just days before the forty four billion.
• 0:30
  Dollar acquisition deal closed on October 27th in one of the
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  nine lawsuits, the plaintiff sought dismissal and the case
• 0:37
  was closed on Friday and since taking over mr.
• 0:40
  Musk has inherited a pile of bills and implemented, a more
• 0:43
  stringent spending approach as part of his signature intensity.
• 0:46
  His previous experience including lending Tesla ink
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  through close brushes with financial disaster is involved.
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  Applying pressure on supplies and vendors when preserving cash
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  was critical. Now, van Conway, a
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  restructuring, Burt with about 40 years of experience, helping
• 1:03
  struggling, companies for marked.
• 1:04
  What Elon Musk is doing is basically simulating a
• 1:08
  bankruptcy. He's taking a machete to his
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  costs. Now, at the time of this
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  recording, neither Twitter, nor Elon Musk has responded to my
• 1:17
  request for comment on the matter.
• 1:19
  And since late October, Twitter has undergone a series of
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  dramatic changes under the leadership of mr.
• 1:23
  Musk who has been on a mission to transform the product of a
• 1:27
  company that has a history of losing money and reduce Costs in
• 1:30
  the face of an Advertiser pull back and deal related dead
• 1:34
  expenses. Now he is implemented, Sharp
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  Staff cuts, and criticized spending and tweets such as the
• 1:40
  13 million dollars. The company spends on employee
• 1:42
  meals at its headquarters initially Ilan complained that
• 1:46
  Twitter was losing over four million dollars a day and
• 1:49
  suggested that bankruptcy was a possibility.
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  However, he later claimed that the company was making progress.
• 1:55
  He said Twitter still has challenges but is now trending
• 1:58
  to break even We keep at it said that on February 5th and of the
• 2:03
  nine lawsuits filed against Twitter.
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  Three, involve office space, including the company's
• 2:08
  headquarters in San Francisco. Where the landlord his claim
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  that Twitter failed to make almost six point, eight million
• 2:14
  dollars in, rent payments for December and January Twitter,
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  which is a now it's a private company.
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  They no longer discloses Financial details publicly and
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  the company reported last year that it owed 239 million dollars
• 2:28
  primarily for Office Space. Space and data center facilities
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  in 2023. In one of the lawsuits filed in
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  January Canary LLC, a marketing company, specializing in
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  producing the kind of logo decorated items commonly used in
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  Silicon Valley Tech companies. Claim that Twitter is behind on
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  payments of almost 400,000 dollars for various Twitter
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  branded merchandise now court documents filed by the company
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  included. A purchase order for most seven
• 2:55
  thousand dollars which described a swag gift bag for Ilan.
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  The Order included a sandblasted logo on a Japanese whiskey
• 3:03
  bottle, and extra-large bomber jacket.
• 3:05
  And more than $250, worth of socks.
• 3:09
  It is unclear whether the items were intended for Ilan, or if he
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  even received them, a lawyer for Canary declined to comment at
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  the time of this recording now, mr.
• 3:19
  Musk's financial management tactics are not new in 2018
• 3:24
  Tesla, where he is. Also the CEO worried its
• 3:27
  suppliers as this struggled to increase production of the
• 3:29
  model. Three compact car at the time,
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  the company extended payment terms from 60, to 90 days, and
• 3:35
  stopped some payments all together and some smaller
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  suppliers, even filed, mechanic's liens, legal claims
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  seeking unpaid compensation against Tesla, alleging unpaid
• 3:45
  suppliers and services. And in the midst of the
• 3:48
  covid-19, pandemics early unpredictable days, Tesla found
• 3:51
  itself in a cache conserving frenzy, like so many other
• 3:54
  companies as quarantine procedures closed down much of
• 3:57
  its business. The automaker reached To several
• 4:00
  landlords to request rent reductions but it wasn't the
• 4:03
  only one making such appeals and meanwhile it Twitter, the
• 4:07
  aftermath of a turbulent acquisition deal involving none,
• 4:10
  other than Elon Musk himself has led to a legal to speed over
• 4:14
  alleged unpaid bills. According to court records
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  Twitter exacts, a range. Last minute, charter flights to
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  shuttle then Chief, marketing officer Leslie burland between
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  New Jersey and San Francisco as they scramble to wrap up the
• 4:27
  deal. But after the dust settled, His
• 4:30
  head of global strategic sourcing.
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  Marty O'Neill refused to pay the one hundred and ninety seven
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  thousand seven hundred and twenty five dollar bill from
• 4:39
  private jet Services. Citing the company's contract
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  with a charter service that only designated Representatives could
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  book flights. What a Twitter employee pointed
• 4:47
  out, the former CEO of Prague or wall had approved flights and
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  Leslie was the main liaison between Twitter and musk O'Neill
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  responded with the finality, the seem to close the door on the
• 4:56
  issue. New management is not going to
• 4:59
  budge. The case was voluntarily
• 5:01
  dismissed by private jet services on Friday but neither
• 5:04
  side has commented on the matter.
• 5:06
  Hey if you could do me a favor and hit the Subscribe button on
• 5:08
  whatever podcast platform you're listening and right now, I'd
• 5:11
  greatly appreciate it. Now let's get into some SpaceX
• 5:15
  news. SpaceX is super heavy rocket.
• 5:18
  Recently completed a static fire test in South Texas where 31 out
• 5:21
  of 33 of its engines ignited with Elon Musk expressing
• 5:25
  satisfaction with the results in the successful test received.
• 5:28
  Praise from NASA. - traitor, Bill Nelson, who recognize that
• 5:32
  the Starship super-heavy system is integral to NASA's Moon, to
• 5:36
  Mars architecture, and helping astronauts land on the moon.
• 5:40
  This success is a significant milestone for SpaceX and NASA,
• 5:43
  but the question remains, what comes next?
• 5:46
  Now, musk hopes that the first orbital test of the Starship,
• 5:49
  super heavy system will occur in March.
• 5:51
  However, before this launch can happen SpaceX.
• 5:54
  Engineers must evaluate the results of the static fire test
• 5:57
  and determine if the rocket is ready.
• 5:59
  For a launch. Additionally, the Federal
• 6:02
  Aviation Administration, the FAA will need to approve this
• 6:05
  launch. And the regulatory agency has
• 6:08
  been considering issuing, a launch license for a while and
• 6:11
  this is cause delays in the past.
• 6:13
  Now, NASA views the development of the lunar lander version of
• 6:16
  the Starship with much urgency, but the FAA doesn't have to
• 6:20
  follow by NASA's rules. And the first orbital flight of
• 6:24
  Starship becomes crucial is SpaceX president wind.
• 6:27
  Shotwell suggested that the company would like To launch the
• 6:30
  mammoth rocket ship 100 times without a crew before putting
• 6:34
  people on it. Even though shout well, went on
• 6:36
  to say that this plan was aspirational is suggest.
• 6:40
  This SpaceX will need to launch. It least almost every single
• 6:44
  week if it intends to be ready to take astronauts to the lunar
• 6:48
  Surface by 2025. And if SpaceX makes Starship
• 6:51
  operational, it will have pulled off a history changing
• 6:55
  development, the Starship will take humans back to the moon and
• 6:58
  could be instrumental in opening the Our solar system to human
• 7:01
  civilization musk would like to use the rocket to go to Mars and
• 7:04
  found a settlement on the red planet.
• 7:06
  And recently SpaceX increased its estimate on how much the
• 7:09
  Starship could take into space. Reusable version will be able to
• 7:13
  convey 150 metric, tons of people and material into low
• 7:17
  earth orbit. But in Expendable version of the
• 7:19
  Starship that would not carry extra fuel, would be able to
• 7:22
  take an eye-popping 250 metric tons into space.
• 7:26
  By comparison the Expendable, Saturn 5 could carry.
• 7:29
  In 18 metric tons into space, which included the third stage
• 7:33
  with unexpended propellant, and the Apollo command/service and
• 7:38
  lunar modules, over all the success of SpaceX is super
• 7:41
  heavy. Rocket MRSA is over.
• 7:43
  All the success of SpaceX is super heavy.
• 7:45
  Rocket marks a significant step forward for the Starship super
• 7:49
  heavy system. And its role in space
• 7:51
  exploration, if all goes well, the first orbital test of
• 7:54
  Starship will occur in March. Followed by the mammoth rocket
• 7:57
  ship launching 100 times without a crew.
• 7:59
  Taking astronauts to the lunar Surface.
• 8:01
  By 2025, the Starship will take humans back to the moon and
• 8:05
  could be instrumental in opening the inner solar system to human
• 8:08
  Civilization. Now we're going to take a quick
• 8:10
  break in when we get back. We're going to be talking about
• 8:13
  Teslas, opening of the supercharger Network, to all EVS
• 8:17
  back to the Elon Musk podcast. I'm your host, William Walden.
• 8:21
  Now, electric vehicles have taken the World by storm, and
• 8:23
  one of the most significant roadblocks to their widespread.
• 8:26
  Adoption is a lack of charging infrastructure Tesla.
• 8:29
  Company that has been on the Forefront of EV Tech has a
• 8:33
  solution open up. Its supercharger Network to all
• 8:36
  electric vehicles. This move by Tesla could be a
• 8:39
  game changer in making V's more accessible to all Americans in
• 8:43
  the Biden. Ministration says that Tesla
• 8:45
  will make 7500 electric vehicle Chargers compatible with non
• 8:49
  Tesla vehicles, however, it's unclear.
• 8:52
  How Tesla will do this since their vehicles, use a different
• 8:55
  charging port than the industry standard.
• 8:57
  And despite this uncertainty it is A massive step towards making
• 9:01
  America's most robust EV charging network available to
• 9:05
  drivers of more affordable. V's.
• 9:07
  According to Cameron's of irony, a Ford dealership manager said,
• 9:11
  Evie's have been very popular. It's made up about 40 percent of
• 9:15
  our sales this year actually. And when you include hybrids and
• 9:18
  plug-in hybrids, it's over 50% to support the growing
• 9:21
  popularity of electric vehicles. The bipartisan infrastructure
• 9:25
  package set aside 7.5 billion dollars for 500,000.
• 9:29
  EV Chargers in the US the plan would put them largely along.
• 9:33
  Major highways, a shift in public infrastructure, that
• 9:36
  could mean big business for people like Rory, baldry bald,
• 9:39
  Ria Boise based, businessman does good business, replacing
• 9:42
  internal combustion engines with giant batteries and classic
• 9:45
  cars. He said we're motorhead's, we
• 9:48
  like the noise, we like the sound, we were all concerned
• 9:50
  that. Once we built the first one that
• 9:53
  we wouldn't enjoy it, because of the lack of the sound and I love
• 9:56
  it. I think it's fantastic.
• 9:58
  The massive investment in Evie. Charging infrastructure could
• 10:01
  make Eevee's more accessible to a broader range of drivers.
• 10:04
  However, it also raises questions about regulating
• 10:07
  electric charging stations, such as ensuring prices are fair in
• 10:11
  the energy. One pays for it is what they
• 10:13
  actually get, Tina butcher, supervisory, physical scientists
• 10:16
  at the National Institute of Standards and Technology said,
• 10:19
  if I were a business that I own, an electric vehicle, fueling
• 10:22
  station, I want to make sure that my competitors are held to
• 10:25
  the same rules that I am anytime.
• 10:27
  Someone can make a quick Buck, they're going, Which is why we
• 10:30
  need some sort of Regulation. Larry Caldwell, who owns an EV
• 10:34
  agreed saying we need some sort of Regulation to ensure that all
• 10:38
  charging stations operate fairly and consistently Tesla is
• 10:41
  working to make us charging ports compatible with non
• 10:44
  Tesla's by the end of next year. It is one step on the long road
• 10:48
  to electrifying America. With the federal government's
• 10:51
  recent investment. In EV charging infrastructure.
• 10:53
  V's will become more accessible in a Greener.
• 10:56
  Future will be within reach. Now, there's an important.
• 10:59
  To this charging infrastructure in the lack of charging
• 11:02
  infrastructure right now has long been a roadblock to the
• 11:05
  widespread adoption of electric vehicles.
• 11:07
  Unlike gasoline stations which are a bit quickest.
• 11:11
  Charging stations are few and far between it can be
• 11:13
  challenging to find a charging station when you need it.
• 11:16
  And even when you do you may have to wait in a long line for
• 11:20
  hours to get a charge out. Tesla Supercharger network was a
• 11:24
  game changer when it was introduced and the superchargers
• 11:27
  are capable of providing up to 120 kilowatt.
• 11:29
  So power allowing Tesla vehicles to add up to 200 miles of range
• 11:33
  and around 15 minutes. However, until now, the
• 11:36
  superchargers were only available to Tesla owners with
• 11:40
  Tesla's announcement that it will make 7500 electric vehicle
• 11:43
  Chargers. Compatible with not Tesla's
• 11:45
  drivers of other V's will have access to this fast charging
• 11:48
  Network in the future. Hey, thank you for listening to
• 11:50
  the Elon Musk podcast. I'm your host will Walden and I
• 11:53
  want to urge you to, please hit the Subscribe button, on
• 11:56
  whatever podcast platform that you're on.
• 11:57
  Right now, it really helps the show out.
• 11:59
  Amenda SLI. If you enjoy Elon Musk, and if
• 12:02
  you enjoy the show, please take a second to go to our patreon.
• 12:05
  Patreon.com / stage 0 to help us out.
• 12:09
  Take care and I'll see you in the next one.