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In this short clip, Patrick Bet-David, David Rubenstein, Tom Ellsworth and Matt Sapaula talk about Elon Musk.
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Right now do you think this whole Situation with Elon buying Twitter are You guys optimistic about what's going To happen with the Twitter evaluation Are you kind of like yeah it's not Something we're interested in how are You viewing what elon's doing I'm not an Investor in in in the company so I can Give you that that perspective without Being an investor I think He paid a high price in other words what Happened is he bought the company at a Agree to buy the company and that the Tech uh transition occurred and the tech Evaluations went down so he paid Probably 25 percent more than the Company was really worth uh he knew that But he thought he could turn around Because he's an engineering uh Marvel And so forth he then made some changes And now a CEO that have really taken Away a lot of the customers a lot of the Uh a lot of the advertisers yeah I think The company cannot service its debt or Normally it takes about a billion Dollars a year uh to service the debt of The the debt that he borrowed he bought About I think 11 billion dollars he he Takes about a billion dollars a year to Service that debt they're not earning a Billion dollars a year so what's going To happen he'll either have to subsidize It and pay it out of his own proceeds he Could take the company bankrupt the
Problem with taking the company bankrupt Is this Um in the end the senior debt will own The company so he will have lost a lot Of money the 11 billion yes 11 billion Would own the company but remember he Could go buy that 11 billion at a Discount the the banks would probably The banks are carrying that data by 80 Cents from a dollar he could probably Buy it at 70 cents on a dollar so he Buys the debt he then owns a company he Could bankrupt the company he then owns The company because all the equity Owners have wiped out of course his Friends are in the equity and he's in The equity so it's a big loss either way There's no easy way out of this in my View other than kind of getting the the Revenue back up again it's a tough tough Slog and I I don't envy him trying to Run this company he's remember he's also Running two other companies that's right That's right it's enough to run one Company he's running two other big Companies and both of those are pretty Successful building yeah somebody the Story that came out saying the third Largest Tesla stock owner says Elon Musk Should step down as the CEO the story Just came out because some of these Other guys from they're like dude what Are you doing we believe in Tesla with You running it right Indonesian
Billionaire uh kugan Leo the third Largest individual shareholder Tesla Accuses musk of uh focusing too heavily On Twitter Elon abandoned Tesla and Tesla has as uh no working CEO Tesla Needs and deserves to have a fully Working CEO full-time working CEO Leo Went on to suggest that the Tesla board Of directors was obligated to look For replacement the billionaire Suggested that must be given the Opportunity to find and name his Successor with the independent Supervision of the board he added Elon Was the proud father Tesla has grown up An executioner Tim cook-like is needed Not Elon yes now and what's happened is The market cap of Tesla was probably at Its peak 1.1 trillion dollars and that Made him the richest man in the world Because he was the biggest shareholder Of it today I think the market cap is Maybe closer to 500 billion so it's lost About half its value why well one thing Is that he sold a number of his shares In order to buy Twitter so whenever you Sell shares it depresses the price and Now people think that he's not focused On it and therefore he's not the genius Behind test and a lot of people are Selling so it's lost easily he's lost Half of the value of the company and That's why some of the shareholders Aren't happy so you think the idea of
Bringing a Tim Cook is a good idea like What he's suggesting well I think Somebody needs to be running the company Whether Elon Musk is willing to give up Running the company I don't know I'm not Involved in it but I I I'd say that Somebody should be running the company And somebody should be running SpaceX Too Um you know it's hard to run one company Once how do you do that how do you run Three companies a billion auto companies Simultaneously well he put a lot of his Personal Fortune into uh into uh Twitter He wants to turn it around he realizes Now it's tougher to turn around than he Thought so right now the company is in Somewhat uh disarray but you know he's Done a really good job of building these Companies before maybe even up with Enough time he can he can make Twitter Turn around take some time so what all The craziness taking place I believe Future looks right if you believe future Looks bright get your latest Future Looks bright hat of valuetainment it Says future looks bright here future Looks bright here we got them in white We got them in Black we got them in red Are black on black sold out these are About to sell out if you haven't ordered One yet we had a person in Michigan but One then he bought three then when those Three people ward in the office they had
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