this thread is for posting matt levine quotes in
JPMorgan made money that it did not, you would have to say, "deserve" to make
Re: this thread is for posting matt levine quotes in
Oh yeah Wolf of Wall Street also really good
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awoooooo
wow, [you]. that all sounds terrible. i hope it gets better for you
Re: this thread is for posting matt levine quotes in
Of course, I think we all know what the best movie about the commodities market is
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Re: this thread is for posting matt levine quotes in
Was that commodities? I don't remember clearly
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I don't recall, I was honestly thinking that you weren't concerned with commodities movies in particular and more Wall Street movies in general.
Pour like Hemingway's last call.
Re: this thread is for posting matt levine quotes in
It's your turn in Cthulhu Wars
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Re: this thread is for posting matt levine quotes in
A good movie teaches you something, ahahahahaha
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I have never actually seen that movie.
Pour like Hemingway's last call.
Re: this thread is for posting matt levine quotes in
Oh, shit! It's pretty incredible
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*turns to directly face the camera*Doug wrote:It's pretty incredible
is it
Re: this thread is for posting matt levine quotes in
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Re: this thread is for posting matt levine quotes in
I'm
a
KARATE MAN
a
KARATE MAN
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Re: this thread is for posting matt levine quotes in
But realistically the biggest and most immediate problem was the disappointed looks. This would mostly happen over phone calls, so you had to imagine the disappointed looks, but that was not hard to do.
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Re: this thread is for posting matt levine quotes in
whoops! Your counterparty is Lehman Brothers. You could call them, but they won’t send you the money.
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Re: this thread is for posting matt levine quotes in
If you attract customers and investors by saying that you have good risk management, and then you lose their money, and then you say “oh sorry we had bad risk management,” that is not a defense against fraud charges! That is a confession!
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Re: this thread is for posting matt levine quotes in
Imagine being the lawyer hired to help steal one month’s salary from a laid-off kitchen staff member to give to the second-richest person in the world. Imagine thinking that was an ethical thing to do. Obviously the second-richest person in the world is going to pay you more to steal money from the kitchen staff than the kitchen staff will pay you to stop him. Nevertheless!
wow, [you]. that all sounds terrible. i hope it gets better for you
Re: this thread is for posting matt levine quotes in
If Twitter’s strategy is to just not pay bills, well, it has $1.2 billion of interest bills to pay each year, and surely Musk is curious about what will happen if he doesn’t pay those. I certainly am! The obvious standard analysis is “Musk’s banks will call a default, put Twitter into bankruptcy, and seize it for themselves,” and I have to say I don’t see it? If I were the Morgan Stanley banker in charge of launching a legal fight against Elon Musk where the prize is owning Twitter, I would quit?
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Re: this thread is for posting matt levine quotes in
i didn't get that, owning twitter seems fine
wow, [you]. that all sounds terrible. i hope it gets better for you
Re: this thread is for posting matt levine quotes in
Does it? Twitter's cashflows are negative, even without the loans weighing it down. They were negative before Musk took over, and have gotten worse since then.
Re: this thread is for posting matt levine quotes in
Like if someone didn't mention Twitter and just told you "I have this business, it's been losing about $1 million per day for the last 8 years, but it's recently come under new management and now it's losing $4 million per day, would you like it?" I'm not sure it would be wise to take that business for free.
Re: this thread is for posting matt levine quotes in
Are its assets worth more than its total share value
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absolutely not
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I didn't think so but I thought I should make sure
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(this is hyperbole, obviously you could take it for free and then strip it for parts. but the point is that the money the banks would get for the parts are likely not going to cover the loan! which is why the loan is currently trading at 60 cents on the dollar IIRC)Ashenai wrote: ↑Thu Dec 15, 2022 7:46 pm Like if someone didn't mention Twitter and just told you "I have this business, it's been losing about $1 million per day for the last 8 years, but it's recently come under new management and now it's losing $4 million per day, would you like it?" I'm not sure it would be wise to take that business for free.
Re: this thread is for posting matt levine quotes in
even if the business blows up i have a hard time imagining that twitter will end up shuttered as a result
some other person will buy it in bankruptcy and then try to make it work; there's too much value to already occupying the role of "THE public square social media"
some other person will buy it in bankruptcy and then try to make it work; there's too much value to already occupying the role of "THE public square social media"
u gotta skate
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Re: this thread is for posting matt levine quotes in
well obviously if you only tell me the bad things i won't take itAshenai wrote: ↑Thu Dec 15, 2022 7:46 pm Like if someone didn't mention Twitter and just told you "I have this business, it's been losing about $1 million per day for the last 8 years, but it's recently come under new management and now it's losing $4 million per day, would you like it?" I'm not sure it would be wise to take that business for free.
how much of the extra losses is from the loan itself? you also can't count that here
wow, [you]. that all sounds terrible. i hope it gets better for you
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That really depends on how you define "value"
Because turns out that being the global public square is INCREDIBLY EXPENSIVE
So where's the value? The reason Twitter stock price was quite high was because of what you said. Being a globally known brand and the de facto "town square" has got to be monetizable, right? ...Somehow? Eventually?
Well, maybe it is, but Twitter hasn't found the way to do it in the last 10 years, and right now it doesn't look like Elon is going to find the way, either.
Because turns out that being the global public square is INCREDIBLY EXPENSIVE
So where's the value? The reason Twitter stock price was quite high was because of what you said. Being a globally known brand and the de facto "town square" has got to be monetizable, right? ...Somehow? Eventually?
Well, maybe it is, but Twitter hasn't found the way to do it in the last 10 years, and right now it doesn't look like Elon is going to find the way, either.