Name: Joe on Elon Musk Being on the Board at Twitter
Uploaded: 2022-04-08T17:01:49.000Z
Description: Watch the stand-up comedy video 'Joe on Elon Musk Being on the Board at Twitter' from PowerfulJRE on Comedy Buff. Published 2022-04-08. Transcript available.

Watch the stand-up comedy video 'Joe on Elon Musk Being on the Board at Twitter' from PowerfulJRE on Comedy Buff. Published 2022-04-08. Transcript available.

the Joe Rogan experience. Elon's a fucking wizard, man. Yeah. I'm really
interested to see what he
does with Twitter because he bought nine percent of Twitter. Oh, that's right.
I read an article
today, though. I didn't read the article. Excuse me. I read a headline today
that said that he
might have done something illegal by buying that stock. Oh, really? Yeah, but
what is that? What
could he have done? I don't understand that. But I wasn't interested enough to
read the article.
What was his motivation for that? It says the disclosure of the purchase. The
disclosure of the
purchase? That he disclosed it? That's what it's- It's the timing of the
disclosure, it says.
Oh. I think when you make a giant purchase like that, not disclosing it in a
certain amount
of time can affect things. Oh, like affect how other people buy it? Sure. Or
sell it.
Or do whatever they do. Right. Affect the stock price? Mm-hmm. Yeah. I'm
interested to see
because I hear they're going to put an edit button now. Because that was one of
the things
that he suggested and he made a poll. Do you think Twitter should have an edit
button? And
he said yes. Who edits what? You. Whether you can edit it. Like if you write
something and
you write 1945, but you meant 1965. Like, fuck. You have to delete the tweet
and start all over
again. And he wants the- He was like, made a poll. Should Twitter have an edit
button? And
the vast majority of people said yes, so let's see if they implement that. Oh,
I see.
Oh, I see. Okay. It's a 50-year-old law that requires
that investors notify the Securities and Exchange Commission when they surpass
a 5% stake in a
account. Musk reached that benchmark on March 14th, according to the filings,
but he made
his public disclosure only Monday. That sounds like a minor. Yeah. In between,
he continued
to buy stock at the price of around $39 per share, bringing his total stake to
9.2%. After
his disclosure, Twitter's share price rose roughly 30% and is now above $50 per
share. No shit. Yeah, yeah.
So basically, if he had disclosed earlier that he was buying it, the price
would have risen
faster. Yes. Got it. And maybe that would have been bad for him because he
wouldn't be able
to get it at the same rate. Yeah, exactly. But if he's actually listened to, so
I don't
know how much power a person who's worth 9% has over a company. Well, he's the
biggest owner.
Right. The biggest stakeholder. Shareholder. But do they have to listen to him,
though? You
know what I'm saying? Do they have to listen to him in terms of whether they
want to ban
people, whether they want to have an edit button, whether or not they want to
apply the principles
of the First Amendment to something like Twitter? Right. Well, maybe it's the
fear that if he were
to dump all the stock, it would hurt the price. So they want to keep him happy.
I was having a conversation with a couple friends yesterday about this, and one
of them was dealing
with comments on another social media platform. And what they were saying was
that, you know,
what Twitter does by banning people and censoring people is definitely bad. But
there are some fucking
horrible people that were banned by Twitter that are now ruining these other
social media apps.
And they were explaining to me, like, what's happening and how these people
comment on these
other apps and about how toxic they are and about they have, like, a whole
group of people that have
also been banned that find these new social media apps. And that's where they
congregate and hang
out. And that's their community now. And it's just blah. It's just Chernobyl.
It's just toxic.
What are the other apps?
Well, there's a shitload of them. I don't want to name the one that this person
was talking to me
about specifically because I don't want to fuck up. Because I think I believe
in these other apps.
I believe in all these other alternative platforms. And I think that there's
great value in having
competitors, whether it's to Twitter or to YouTube or to any of these Facebook,
any of these giant,
huge companies that have a massive pipeline to the consciousness of the world.
Because the ability
to distribute information on Twitter or on Facebook, that is unprecedented.
There's never been a thing
like that where a privately owned company has the ability to get ideas out
there that can change the
way elections are run, to change the way so many things are thought of in this
country. I think we need
alternatives. And I think we need alternatives that adhere to free speech. But
the problem is
when they've got these shitty people that they've kicked off of these other
platforms like Twitter,
because Twitter is pretty ruthless about it. Then they go to these other places
and they run amok.
And then they're like, hey, free speech, you need free speech. But then they're
organizing
harassment campaigns and fucking with people and targeting them all day long
and constantly commenting
on them. And you're like, I don't know if that's good either. That would make
me not want to go there
if I was this person. But I don't like what Twitter did. I don't think Twitter
should have banned Trump.
I think that was a terrible idea. It's a terrible precedent to set that you can
decide that you don't
like a guy who's the fucking sitting president of the United States at the time
and kick him off
your platform because you don't like the things he's saying.
Mm-hmm.
Thank you.