Okay, this is crazy I was just exporting this video. Now there are multiple sources suggesting that y'all Roth is leaving Twitter Uh, this just adds to the craziness that's going on over there. because he's he's been like at least seemingly Elon Musk's right-hand man at Twitter Let's get into this. Holy smokes, the Bankruptcy words have been uttered. A per the Managing Director of the Platformer. we have now just heard that Elon Musk has suggested that quote bankruptcy isn't out of the question for Twitter. In my opinion, this could be very strategic and we're going to talk about what this means. I'm also going to talk to you about the Twitter spaces that Elon Musk had where he talked about some of the Visions for the future of Twitter uh, in including regarding the payment application they filed, which we've already covered on the channel. And then we're also going to talk a little bit about the difficult times ahead. In fact, why don't we go ahead and start with the difficult times ahead. In a memo to employees, Elon Musk described difficult times ahead, suggesting that everybody needs to go back to the office for 40 hours a week. now. obviously, in-office work is heavily debated as to whether you're more productive at home or in the office. Managers suggest they don't know if their employees are working hard when they're not in the office and workers say they feel like they're They have this thing called productivity paranoia where they're not sure if they're working hard enough at home, so then they actually work harder. Who knows. But what we do know is that Twitter has only been 47 occupied within office workers and Elon Musk says everybody comes back now unless he personally green lights work from home. This comes right before him suggesting that bankruptcy isn't out of the question for Twitter Now I Want to make it very clear this has some clear benefits of for the company in my opinion. But I Want to also be very clear that bankruptcy does not mean failure. Bankruptcy does not mean let's start over and just shut the company down, right? So let's be clear here: it all comes down to Which chapter of the Bankruptcy code you're talking about. In most cases, you're looking at either chapter 11 or 13 rather than a chapter 7. Why does that matter? Well, chapter 11, for example, is a business reorganization and an opportunity for you with a judge to renegotiate debts with your debtors, lowering interest payments or lowering principal repayments required. Because maybe income has gone down substantially like maybe a lot of advertisers started pulling out like GM did and many others have already. That's possible. So it makes sense that Elon says bankruptcy isn't out of the question. That is to be contrasted with Chapter 7 Bankruptcy, which would be a liquidation. That means you're closing your stores. That means you're closing the doors. Everything's shutting down. You're done. You're out of business, right? So Chapter seven Going out of business? Chapter 11 is yo. We got too much debt. Our Revenue just declined. We gotta fire people. and uh, we need to renegotiate these debts. It's actually an opera opportunity for you to reduce your liabilities and uh, request you know concessions from from debtors and basically make them take part in the restructuring of the business so that it doesn't go bankrupt. Now you don't want to regularly pull that card because then your reputation goes to crap, right? People don't want to work with you anymore in the future. For individuals that's called having a bad credit. Score. For companies that's called, you know, having a bad reputation. No. Elon Musk has a unique opportunity to potentially file bankruptcy because he could just do this. look. I Went in to try to take over I tried cutting as many costs as I could, but too many advertisers pulled out for political reasons. We gotta file bankruptcy Chapter 11 Reorganization Now What are some benefits of this? Well again, you lower potentially your liabilities and your interest payments and the terms. Maybe you even get pauses on how much you have to repay when like, just total like interest abatements for a while. Kind of like, uh, you know, mortgage moratoriums or whatever where it's just like, oh, you know, know, just don't pay your mortgage for 12 months, right? But think about some of the things that it does. First of all, it kind of makes fired employees feel like justified in in being fired, right? It's like, all right, I mean they're going bankrupt. That's again, sounds like out of business, but it's probably not out of business, but it in some way kind of probably makes them feel a little better. It's like I don't want to be on that sinking ship anyway. Whatever. it's not going to be a sinking ship or whatever you could think that buy leave peacefully right then. It also makes firings like firing half the staff at Twitter 3750 people. It makes that seem less politically radical. It seems less rash if the company is facing bankruptcy to fire people, you would expect that to happen. and it just shows that you're kind of like you're not sure how much runway rate you have. In fact, that's exactly what Elon Musk said he said I'm not sure how much runway rate we actually have left at Twitter we might have to go bankrupt and I'm sure Tesla investors would like to hear that Twitter would rather go bankrupt than Elon Musk sell Tesla's shares and bail out Twitter I Don't think Elon Musk is going to bail out Twitter I Think he would rather file for chapter 11 bankruptcy and make the debtors pay or at least contribute to the restructuring, right? And I'm not saying that's right. I'm just thinking that might be what he might be up to again, even though I'm a licensed financial advisor. This is a financial advice for anyone including Elon Musk But I think there are some 4D chess moves being played here I Think it's smart by the way. I Talk about 4D chess and how to build wealth. In my zero to millionaire real estate investing course and my Elite Hustlers University for entrepreneurs and employees to make more money, either with a primary hustle or a side hustle that course is on, pre-sale comes out Black Friday So check it out. Link down below. We've got the biggest coupon code ever. right down below 60 off. It's incredible, but what else does it do well? suggesting bankruptcy also makes current employees work a lot harder, right? Think about it if you think oh my gosh, the company's going Banker with to be tight, we have to be more productive. We have to be more efficient. We have to be careful with costs and there isn't this endless well of tech money Now all of a sudden employees are a lot more respectful. Maybe they stop wasting as much as they previously were wasting because they're like oh no, times are tough. but what does this also do? Well, It allows Elon Musk to basically prep negotiations with debtors. If it's leak that, he's talking about bankruptcy to employees inside of the companies. Well now, all of a sudden, you could also be in a situation where debtors are like ah, crap, he's going to call us and threaten bankruptcy. Let's start preparing pre-negotiating with ourselves. Basically, let's start offering some concessions before we go into a Judicial bankruptcy. Maybe we can offer some concessions before him. It's actually really smart. So what did Elon Musk talk about on the Twitter spaces? Well, he talked about the eight dollars per month making it expensive for Bots or basically spammers to get away with Spam. But you actually have some really problems. Really big problems. Coming out of this right now is so bad that the White House and this could be politically motivated. But anyway, it's true the White House is actually coming out to Uh to start supervising and inspecting what's going on with Twitter and these verified post issues Because what's happening is people are posting comments as if they're George W Bush with a uh, a blue check mark saying things like I can't wait to see more Iraqis You know, disappear uh in in the bad way. I'm just going to go ahead and put it up on screen. Okay here. uh George W Bush tweet is up nine hours later and then it's quoting I miss killing Anyway, pretty bad. and then uh, somebody who's verified as Tony Blair says same. To be honest, these are obviously fake accounts, but how is somebody else supposed to differentiate that now that everybody has a blue check mark and so Elon Musk has suggested on his Twitter space that look right now, what does it take to get verified? All it takes is a phone, a credit card, and eight dollars a month. That's great, but it potentially creates some really big issues with very verifying people's identity. because you're not verifying people's identity. The fact of the matter is I have five cell phone numbers and I have like 20 credit cards. That means I could make at least five Twitter verified accounts. and if I started using my Google admin and unlocked Google voices for accounts that I can make all day long. I could have an unlimited amount of phone numbers and credit cards. All you have to do is go on the Apple card and click random credit card number and it makes it look like you have a new credit card. Kind of crazy. that's for internet purchases, right? You could do that with a lot of different credit cards now now. Elon Musk also suggests that hate speech is down 95 since their acquisition. I Don't believe that. I look I'm a fan of Elon Musk but I think some of the stuff that he says is you know, designed to be marketing and it's straight up like I think it's very convenient that Elon Musk on his own earnings call says oh, I think Tesla Tesla could be worth as much as Apple and Saudi Aramco combined. you know, 5 or 10x from where it is now. right before he starts selling stocks his shares 20 million of them. Uh, and the blackout period ends. It's just really convenient. Okay, so Elon is not somebody who doesn't know how to play the game I Don't fault him for playing the game don't hate the player, hate the game, right? But some of the things you do have to take a little bit with a grain of salt. and again, I'm not a by no means an Elon hater. Okay, okay, everybody does things that that are like yeah, I don't know. Okay, like I see what you're doing there right? anyway Elon Musk does then talk about maybe this idea of in the future using their Money License, their Money Transmitter license that they've just talked about to potentially expanding Twitter to uh, some kind of uh, linked, uh payment system Now Elon knows a thing or two about payment systems since he helped found PayPal Uh, and that's where he got his initial seed funding for ventures like Tesla and SpaceX which is awesome when he sold his stake in PayPal Now Uh, so he alluded to this idea of maybe adding ten dollars to people's accounts so they could spend money on Twitter If you want to get it off the account, you have to link a bank account. but maybe they start offering things like high-yield balances or uh, or add debit cards, credit cards, and checks. So adding credit cards and high yield savings is actually very easy. Because you don't have to be a bank to do that, you could just Outsource to a different bank like Green Dot bank or whatever like Yada Bank, for example, is not actually a bank. it's just a dressed up fintech company that outsources the banking to other Banks and then adds a lottery aspect and raises money to fund losses. So so they could survive now. I Don't know all of their financials, so I'm making an opinion here. but they're not a bank, at least as far as I'm aware. This is why when you hear Yada Bank and you go to their website, everything's actually Yada Savings and Yada is. it's not like Yatabank.com The limitations around using the word Bank are really restricted because they're not actually a bank again, at least as far as I'm aware. So uh, this is actually good for Elon though, because yeah, you could actually pretty easily add money market accounts and pay people high yields. It's not that big of a deal. Uh, and his idea is that maybe you could make a the system as useful as possible where you basically buy things effortly without click or without without uh, with one click. That is. Now this is a reference to a concept known as the Pain of Paying. You want to reduce the pain of paying when people are paying. So if somebody goes to uh, you know, Metcaven.com join and you want to buy one of the courses, you're like, that's it. I'm convinced I Want to listen to Meet Kevin's fundamental analysis on real estate. especially actually when he starts buying deals for House Hack I Want to hear how he's buying real estate? so I can replicate that? And if you think I'm training my competition, you're mad to think that House Hack really has the ability to go buy every house in the United States Seven million homes a year transact. House Hack needs to buy like 500 in the next two years. Okay, and then we're gonna be killing it. So like it's okay. All right. By the way, if you're an accredited investor, we'd love to have you at househack. Make sure you get in by the end of the month to maximize the free warrants that you get when you sign up and update. By the way, we are trending towards an end of January launch hopefully from my birthday for the reg a filing just in case you're not accredited. but buying things with one click sounds a whole lot like Google pay and Apple pay to me make it easier to obtain the product or service and the better the user experience is all for a small fee of like 30 probably. He didn't say that, but that's what I was guessing. So those are some things that I got from Elon's Twitter spaces. This bankruptcy comment is very interesting though I think it's part of 4D chess and negotiation prep and employee motivation and that's the latest. so get your 60 off. down below it's Black Friday Okay, like if you're gonna buy a program, now's the freaking time to do it. Especially that pre-sale on Elite Hustlers You are going to love what part? What is part of Elite? Hustlers Because it's not just going to be the course, it's there's the subscription part to it which gives you access to new lectures every day. So I'll look at people's businesses every day and there'll be a new lecture every single day for as long as you're subscribed to the course. and we'll do a once a week Hustler's exclusive live stream where rather than talking about stocks and real estate in the market, we just talk about Business and Entrepreneurship and websites and so I look I'm an entrepreneur at heart and my belief is that during hard times and recessionary times, you work harder and so that's what I'm doing. and I Want to show you how you could work more efficiently and make more money? because now's the time to do that. So check out those programs linked down below and see you soon.