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Elon Musk under federal investigation over $44 Billion Twitter deal Scandal · Elon Musk Podcast

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  Elon Musk is under federal investigation relating, his
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  forty four billion dollar takeover deal of Twitter.
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  This news came from a court filing.
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  It was made public on Thursday about the latest ongoing legal
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  disputes between the billionaire musk and The Social Network
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  though. Twitter said he was under
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  investigation, say what, the focused of that investigation
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  was all about. They said, this game of hide,
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  the ball must end, what are sued Elon Musk in July, to force him
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  to close this deal and he said that.
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  Lawyers for the Tesla. CEO claimed investigative
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  privilege. When refusing to hand over
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  documents that it wanted. It also said that it requested
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  musk's attorneys produce their Communications with Federal
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  authorities months ago, but they haven't done.
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  So, and in late September elon's attorneys provided a privileged
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  log identifying documents to be withheld from them referenced
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  drafts of a 13 of May email. To the US Securities and
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  Exchange Commission the SEC, which enforces the law against
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  the market manipulation of Elon Musk, and Twitter.
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  So it also said that there was a slide presentation to the FTC
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  whose principal mission is promoting the antitrust law and
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  consumer protection. The court request was filed on
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  the same day that the court. Granted, a stay of litigation to
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  allow Twitter and Ilan to close the Takeover.
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  Deal. And the SEC is question elon's
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  comments about Twitter and in April, the SEC asked him whether
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  the disclosure of his nine percent.
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  Twitter steak was late in. Why he indicated that he
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  intended to be a passive shareholder Elon indicate he was
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  an active investor at that point and in June the SEC a steal on,
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  in the letter, whether he should have amended his public filing
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  to reflect his intention to spend, or abandon the deal.
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  In attorney for Ilan told Reuters.
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  Twitter's Court filing was a misdirection and it is Twitter's
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  Executives that are under federal investigation, Twitter
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  declined, to comment on that statement.
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  So this filing comes as The months-long Saga of Ilan and
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  Twitter keeps going forward until the end of the year.
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  Now, Ilan wants to buy Twitter and we all know that he said it
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  publicly numerous times, but he is wary of the Bots that are
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  part of Twitter. There was also a recent
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  investigation. Negation by a former FBI agent
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  that said that there's about 80 percent of bots on Twitter that
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  aren't people. So Elon is also skeptical about
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  the but program. What can he do about this?
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  Elon is also said that this is the first step to make x.com
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  into a thing right now. If you go to x.com, it's just
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  just, as x on it, there's nothing there.
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  There's no, there's no app there.
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  There's nothing there for you to use so elon's Idea for the
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  future of this is to turn Twitter into a multi-faceted
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  platform. Whether it's the the same
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  Twitter that we see now, with the newsfeed, we all understand
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  that, we all know about the newsfeed on Twitter.
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  We see it. We use it every day, almost and
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  also he wants to add some sort of payment system to it.
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  So think about stripe, something like stripe where you can send
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  money back and forth something like Apple pay, where you can
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  pay. Your friends, a couple bucks for
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  dinner, something like venmo all that combined with Twitter, so
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  it could be a messaging app. Something you can use to send it
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  and receive money, but also something where you can have
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  encrypted chance with people. Something that you could make
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  phone calls with audio calls, video calls with Twitter.
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  I think Ilan has a bigger strategy here, shopping, things
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  like that things that will make Twitter into a multi-faceted
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  platform. So think about what is already
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  out there. Facebook already does this,
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  right? They have multiple ways to make
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  money advertisements. They have you know, there's
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  things like WhatsApp out there. There's you know, the multiple
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  messaging programs through Facebook.
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  You have the news feed of course, from your friends family
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  and also from, you know, Enterprise news agencies.
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  So Facebook already kind of has all this stuff covered.
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  What could Twitter bring to the deal, you know.
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  What could the new x.com? Bring the deal.
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  That's something like the Facebook platform doesn't
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  already do and I'm kind of skeptical, you know, in a way
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  backblaze.com heel on that's the right way to think about this.
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  But there's already platforms out there, the do all this your
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  phone. If you have a nice home your
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  iPhone does a lot. Stuff.
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  Anyway, with I message you can send money back and forth, you
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  have encrypted data if you want it you send messages back and
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  forth. It's not a public message my do
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  but it's personal peer-to-peer person-to-person messaging so
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  doesn't need to be a social platform for everything Ilan,
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  really think. So and could he move forward
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  with the acquisition of Twitter and completely gut what's there
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  now and turn it into something? That's more of a broad spectrum
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  of ways that people could use the internet of a huge tool in
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  the future. I'm not sure what's going to
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  happen with this Elon is under investigation.
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  Twitter, thanks, Ilan. Should have bought this thing a
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  long time ago and there's a lot of money to be made with Twitter
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  in the future if Elon goes through with this.
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  And if everything works out, we'll billions of dollars to be
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  made in the future. Stripe payment processor,
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  billions of dollars. They make tons of money all the
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  time and Ilan sees that as a way to make billions and billions of
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  dollars in the future, forty four billion dollars is what he
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  wants to pay for this thing. Could he make forty four billion
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  dollars in the first year? Second year third year, could
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  this be a 10-year plan for him? Is this going to be funding the
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  other programs that SpaceX and Tesla and boring company?
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  Etc? That Elon has under his wing?
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  Well they're all different entities and he is the richest
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  person in the world right now. On paper, they're arguably.
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  There are other people that don't have the money on paper,
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  you know, in other countries that have way more.
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  More money than him. But Ilana right now, forty four
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  billion dollars, he has some other people involved with them
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  and it's not all of his money. So, these stakeholders to take
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  this private, could possibly, you know, see his vision for the
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  future. See his vision for the platform
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  and see his vision for his new platform, x.com, as a way to,
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  you know, make their one or two billion dollars back to the
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  invest, maybe they can make it back to the few years.
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  Maybe this is Long-term play where they try to take out
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  Facebook where they try to take out the other social networks
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  out there and they also try to bring messaging into one place.
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  What, how great would it be if you had one app that did
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  everything? He does tab back and forth
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  between your social network, your banking purchasing Goods,
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  everything. All in one place I think that
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  would be pretty cool. I don't know if that's feasible
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  because if you think about the the Stranglehold that Amazon has
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  the marketplace for shipping goods and Commerce in general
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  now and Walmart as well. So alone would be taking out
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  those two juggernauts. If he decides to get into the
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  shopping realm of things or you could just piggyback on them,
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  you know, could it could he use something that's already
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  available to everybody Amazon or something like walmart.com or
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  local shopping? Local grocery store is things
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  like that. Could he get grocery delivery to
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  you? I mean, it's possible in this
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  app who knows, who knows, what his plans are for the future,
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  but whatever it is, he wants to make money from it and his
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  ultimate goal is to take this private and to kind of
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  unregulated the speech out. Free free free speech.
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  So we'll see you in the future. I think it's going to be a
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  10-year play. I don't think it's going to be
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  happening any time in the next few years, where we'll see the
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  full potential of this but no tech company becomes mature
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  without their headaches in the beginning.
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  Every tech company has their their weird stage.
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  You know, they're their teenage years where they're kind of
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  weird and they go through that emo phase and they dye their
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  hair and they do all that fun stuff.
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  Tough. And you know this company is
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  going to have to do the same thing.
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  It's in it in its infancy. Now Twitter is a mature platform
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  but rolling into something like X is going to be a whole other
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  thing. So hey if you like this kind of
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• 11:27
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• 11:31
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