Hey this is tom nash, and a couple years ago i had to catch a flight out of jfk, so we catch a cab and we get going and traffic hits like a mother lover. I mean it was gridlocked insane three times longer than usual, so there's a fixed rate that actually costs to go from the city to the jfk airport, but we ended up giving the cabbie three times more, because you know it's just fair now. This is exactly what happens when the circumstances of a deal change so materially. You understand that the agreed upon price originally doesn't really matter anymore.

Now, there's a reason. I told you the story, because i want to talk about what's happening right now with elon, musk and twitter, because there's a lot of interesting developments that you're not getting from mainstream media. Let's do this so check this out friday morning, elon musk tweeted that the 44 billion dollar deal to purchase twitter is now on hold pending a review of the percentage of twitter's fake accounts. No less now elon lyric tweeted saying that he was still committed to the acquisition, but he wants to just verify how many fake accounts are there now ensure yeah spam and fake accounts are horrible problems.

I agree. I know. However, the problem is that everybody knows about twitter's fake accounts. I mean it's not news.

The company is filled with phony accounts for years, which raises a serious question about why elon is talking about these fake accounts. Now now before i get into that, i want to give a huge shout out to our sponsor ftx us ftx, us is a regulated. Crypto exchange and is one of the largest exchanges in the world with millions of users. Now these guys work with everybody.

They work with tom brady, steph curry, so i'm honored to be you know joining that list. Their ceo is actually planning to donate most of his money to charity, which is kind of insane and basically ftx us offers you zero fee trading for bitcoin ethereum, as well as other leading cryptocurrencies and soon stocks. So if you sign up using my link below and use the code tom nash, one word you can get up to a hundred dollars in crypto when you trade with ftx us, as well as a free crypto on all trades over ten dollars. Now, let's get back to elon and twitter, so why the hell is ellen, bringing this up now i mean twitter's own filings state that five percent of its accounts are fake and that the five percent figure is based on sampling and that the actual numbers of false Or spam accounts could be higher than what we have estimated.

What the hell does this mean in non-corporal human talk? Essentially, this means we may have five percent of fake accounts, but in all honesty, bro we probably have much more. We have no freaking idea. If that's five percent number is actually accurate, since we legit just pulled that number out of our ass, i'm not even kidding you. That's exactly the decision to human now, maybe not the ass part, but everything else for sure.

So the idea of the filing was well. It might be five percent, we don't know we don't care, assume it's much more. So why is elon bringing this up now? In all honesty, the dude seems to be trying to negotiate a lower price or even get out of the deal now the entire market tanked. We know this, including tesla.

Everybody got annihilated and twitter would have been trading right now at 25 dollars per share without this deal, so why should he pay fifty four dollars and twenty cents for these shares? Now you see, contrary to the common belief, eon, can't just walk away from this deal simply by paying the one billion breakup fee. It's not that simple. This breakup fee can only apply if there's certain circumstances that actually happen, such as the ftc stepping in and disqualifying the deal, and if these circumstances do not apply twitter would be able to actually sue the hell out of musk for much more than 1 billion. I mean simply put the breakup fee: isn't an option for elon to just walk away and bail on the deal and a bear market is not one of these circumstances which would allow him to walk away so the way this stands elon actually has a few choices.

Do the deal, as is try to renegotiate a lower price or establish a circumstance, a special circumstance which would allow him to walk away with paying only one billion or the grand bonanza basically say that twitter materially breached their contract, such as committing massive fraud, which would Allow him to walk away for free without any repercussions and here's where the fake accounts come in and while it would be hard to establish fraud here as well as material adverse effect on the inland side. That's not the point. This is just a scare tactic: to get twitter to blink first and agree to a lower price, maybe even 4.20, 6.90. Now, how will this end, legally speaking, if elon was to remove his bid without justification? Twitter could sue the f out of him for billions of damages that would take a decade and would cost hundreds of millions of dollars of legal fees, not to mention the bad pr that twitter really doesn't need right now.

He knows they want too, and he knows that they know it's a 25 bucks per share company on a good day, so he's trying to scare them into negotiating a better price. Now, despite the law being on their side, what is best option right now, maybe just to actually accept this law offer from elon. Nobody really knows how this thing plays out, but hey with elon on board. You never know.

What's next, we might be going to mars, as always a huge shout out to the channel members and patrons coming up right now, our newest channel members and opinions. Thank you. So much we'll see you in the next video 30 hertz straight up.