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Twitter Evicted From their Denver Offices · Elon Musk Podcast

• 0:07
  Welcome to the digital era, where even the tech Titans that
• 0:11
  shape. Our online lives are subject to
• 0:13
  the fundamental realities of brick and mortar.
• 0:16
  The social media Behemoth Twitter was recently evicted
• 0:18
  from its office space in Boulder Colorado, after allegations of
• 0:22
  unpaid rent surfaced signaling an intriguing development in the
• 0:26
  firm's operational, trajectory under the tutelage of tech,
• 0:30
  Erick Elon Musk, the premises in question, a sprawling, 65,000
• 0:34
  square foot office at 3401 Bluff Street, affectionately depth.
• 0:39
  The Rail Yards at spark was home to, about 300, Twitter
• 0:44
  employees, as per reports dated back to 2020.
• 0:48
  As chicago-based real estate Powerhouse, that John Buck
• 0:51
  company via its affiliate lot to SBO.
• 0:54
  LLC is the land Board of his property.
• 0:57
  Now, documents filed at the Boulder County Court.
• 1:00
  Revealed a bitter feud between the tenant and the landlord that
• 1:03
  culminated in the County Judge signing off on an eviction order
• 1:07
  against Twitter. Instructing the local sheriff to
• 1:10
  go through this process and the narrative that unfolded in the
• 1:13
  public documents, brought the light a convoluted issue
• 1:17
  concerning unpaid rent in a letter of credit worth nearly a
• 1:20
  million dollars that Twitter failed to replenish In 2020.
• 1:27
  Twitter had promised the landlord a sizable letter of
• 1:29
  credit to the tune of nine hundred and sixty-eight thousand
• 1:33
  dollars. This some was to act as a safety
• 1:35
  net, ensuring the landlord had a recourse to tap into of Twitter
• 1:39
  ever, defaulted on its rent. Obligations.
• 1:41
  Now, Twitter was contractually bound to refill this amount
• 1:44
  within 10 days of the landlord ever found.
• 1:47
  The new to draw upon it. A fast forward to March of 2023.
• 1:51
  A landlord exhausted, the said letter of credit to cover,
• 1:54
  Twitter's unpaid rent. However, the social media Titan,
• 1:57
  neglected to fulfill its obligation to restore the letter
• 2:01
  of credit, according to the court documents and Twitter was
• 2:04
  then issued a demand for compliance or repossession in
• 2:08
  April, essentially presenting them with an ultimatum replenish
• 2:11
  the depleted credit or vacate. The premises, the legal
• 2:15
  Machinery was set into motion is Twitter, did neither prompting
• 2:18
  the John Buck company to move forward with the eviction
• 2:20
  process? The formidable legal team of
• 2:23
  Timothy Gordon and Riyad Lundquist from Linden heart is
• 2:26
  leading the charge against Twitter now and despite repeated
• 2:30
  attempts to seek comment on this unfolding Saga.
• 2:33
  The John Buck company and their legal Representatives, maintain
• 2:36
  radio silence and Twitter on the other hand, reciprocated, our
• 2:40
  request for comment in an automated email that of course,
• 2:43
  did the emoji of a poop. This according to Twitter, Elon
• 2:46
  Musk is a latest approach to handling media inquiries.
• 2:50
  Now in another intriguing twist, this unfortunate event has been
• 2:54
  preceded by a series. Has of turbulent events within
• 2:57
  the organization itself. November saw 38 employees
• 3:00
  handing in the resignations in response to musk's turn
• 3:03
  ultimatum calling for increased commitment and intensified work
• 3:07
  hours. This move was not isolated as
• 3:10
  November also witnessed 87 layoffs in the boulder office.
• 3:13
  Making one wonder about the current head.
• 3:15
  Count amidst the DraStic organizational changes Twitter.
• 3:19
  Now, finds itself owing three months, rent, to its Boulder
• 3:22
  landlord the judge officially filed, the rid of restitution.
• 3:26
  Shin to evict Twitter on, May 31st with a validity period of
• 3:29
  49 days. And Twitter has been embroiled
• 3:32
  in reports of financial tumult with the failure to pay rent,
• 3:37
  adding Credence to these speculations and Twitter's
• 3:40
  recent financial troubles have been well-documented stories of
• 3:44
  unpaid bills have been surfacing.
• 3:46
  Since musk took the reins and this eviction could be the
• 3:49
  proverbial Canary in the coal mine.
• 3:51
  The fact that Twitter let months go by without paying rent.
• 3:55
  Gives us a glimpse into how dire the situation may be at The
• 3:59
  Bluebird though. Legal records reviewed by
• 4:02
  TechCrunch and Reporting by Denver Business Journal revealed
• 4:06
  that Twitter stop making rent payments after depleting the
• 4:09
  initial nine hundred and sixty-eight thousand dollar
• 4:11
  letter of credits. It if the credit was used to
• 4:14
  cover the standard monthly rent, there'll be about 27 thousand
• 4:17
  dollars. So Twitter's commitment there
• 4:20
  it's not quite clear but it looks like they're not going to
• 4:24
  pay up and the eviction process. Us against Twitter is to can be
• 4:27
  completed, within forty, nine days from May. 31st, the case is
• 4:31
  ongoing a boulder District Court.
• 4:33
  Meanwhile, another legal battle involving Twitter surfaced, a
• 4:36
  cleaning company, seeking ninety three thousand, five hundred and
• 4:40
  four dollars in unpaid fees from Twitter.
• 4:43
  Now despite the numerous allegations of financial
• 4:46
  irresponsibility and operational, disarray Twitter
• 4:49
  has remained pretty tight-lipped.
• 4:51
  What clear though? Is that Twitter is transition
• 4:53
  under Elon musk's leadership is proving to be be Rocky and it's
• 4:57
  starting up again. And the once formidable social
• 4:59
  media, giant is not grappling with some of these substantial
• 5:03
  changes and the new things that are happening under Twitter's,
• 5:06
  new boss, Elon Musk. Now with the eviction from
• 5:10
  elon's Boulder offices, this is a testament to the fact that
• 5:14
  everything is changing and as things progress, I'll make sure
• 5:17
  to keep you updated with everything that's happening over
• 5:20
  at Twitter. That's it for today's episode.
• 5:22
  Thank you for tuning in. I appreciate you and I
• 5:24
  appreciate you spending your time.
• 5:26
  I'm here with me. If you could, please take a
• 5:27
  second and hit the follower subscribe button on, whatever
• 5:30
  podcast platform you're on right now, I'd greatly appreciate it.
• 5:33
  Now take care of yourselves and each other and I'll see you in
• 5:36
  the next one. Hey listeners.
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