- and X has threatened to take them to court to seek the return of the funds plus interest
Doubt it. Call their bluff. They'd lose so much more to legal/court fees than they'd ever get back. X is just looking for a quick cash injection.
I mean, they're starting off with a 43 BILLION dollar debt to start with. I legitimately don't know how you make a profit, ever, starting that deep in the hole. I'm not an expert, but it's probably the most debt an investor had to climb out of on day 1.
And thats not even mentioning the fact that twitter wasn't even profitable before the sale.
So he bought a company that never turned a profit, was actively losing more and more money year after year, and he adds 43 billion dollars of debt to a failing business.
But hey, he went to harvard, right? Clearly he has better business sense than all of-----BAHAHAHAHAHAHA!!!! Sorry, couldn't say that with a straight face.
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The profit is being able to hold X's leash and control what its users say about you, as well as steering the conversation in general toward topics you like.
And this is why something like 40% of the sites genuine users have since left. And the number of users is on the rise, becauae they keep adding more and more bots.
Twitter's original plan was to run in cash infusion mode as long as possible. They never even substantially tried to monetize. They had links to all the other platforms, that all the best celebrities in journalists. Besides having just some tech debt issues they could have easily spun an AI product and sold the exact interests of their entire user base to the highest bidder.
Everybody sliding into AI right now isn't an accident. They train a model on the corpus of everyone's interactions. It creates a model deeply seated with everyone's likes and dislikes. They can use the model to infer stuff that's not even exactly stated. They can lump people together that you wouldn't be able to do in a conventional manner.
That user base, in the right hands, was worth the money. Just not necessarily for shoving ads in their faces on the site.
The irony of Mr. "I demand $56B to stay with the company, even though I already have more money than God" demanding at maximum $351,500 from six people who got shitcanned.
Musk doesn't have shit for money. He wanted the 56B payout from Tesla's equity to conveniently almost perfectly cover the money he was forced waste on buying his nazi propaganda broadcast site.
Who could have foreseen that laying off a shit ton of people and working the remaining people into the ground (often under threat of deportation due to visas) would result in costly errors??
-business genius Elon Musk, apparently
All current and former employees are now going through theír paychecks to see if Musk didn't underpay them using currency conversions.
My response: fuck you, sue me. I will drag out the lawsuit and make it as expensive as possible to litigate. Even if you win, it will be a net loss. Have fun!
They're australians, so loser pays the other's legal fees.
Maybe there'd be less frivolous lawsuits in the US if it worked the same, it makes it so you can't just sue someone to make them go bankrupt.
No, if you win you should be compensated for your legal fees because the idea is you weren't in the wrong and therefore shouldn't have had to sue, or shouldn't have been sued. So the loser pays the fees, because they shouldn't have sued, or they should have settled before it became a lawsuit that they lost.
If you're big you can't drown smaller companies, and if you're small and you're likely to win, you can go after the big companies for your dues because they'll have to compensate you for the legal fees so it doesn't bankrupt you.
In the US legal fees aren't considered, you have to countersue if you want the legal fees back AFAIK. Not a lawyer.
I honestly don’t know. I’ve never been involved in a civil suit. I’d want to let Musk know what he was in for, though.
I wish I had 44 billion dollars to burn.
This is the story with every company that Elmo acquires. Musk doesn't care whether the company succeeds or not. He just wants that bong-hit of attention he gets from having his name in the news.
Ironically, Twitter was his best chance of making that work, but he's too stupid to even run a social media network. This is like farking up running a casino.
Fuck X. It's an imaginary thing. Fuck ever so slightly less Twitter, which at least exists but it can get fucked as well.
This comment made me realize we tolerate Twitter because we can call it Twitter, but to make it go away, we need to stop focusing on that part and just pretend it doesn’t exist.
Not joking here. Fuck whatever it’s called. I’m not engaging any posts about it or from it anymore.
Do they have a case here? Are they entitled to have that money returned if they paid it out already?
From the Australian fair work ombudsmen:
When overpayments occur, the employer and employee should discuss and agree on a repayment arrangement.
If the employee agrees to repay the money, a written agreement should be made which sets out the:
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reason for the overpayment
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amount of money overpaid
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way repayments will be made (for example, cash, cheque or electronic transfer) and how often (this has to be reasonable).
Granted, this is generally for overpayment of wages and not specific to redundancy pay. There may be clauses in their contracts with varying terms that allow them to reclaim, but I'm just some dude on the internet.
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Depends on the laws. My province in Canada they have upto six months to realize they over paid you otherwise nothing legally they can do.
And in Florida, the employer can go fuck themselves.
SOURCE: Worked 5-years at a payroll firm. You deposit the money, it's theirs, end. Doesn't even matter if it's the wrong account.
Sounds like they need better payroll processes to me
Unless you're suggesting that it would mean the worker wouldn't get paid? Yeah, no... They still owe for work done
I get that but kind of like when your labor rights are violated, it’s up to you to pick the fight and get your pay, which is often a shitty and awkward process
Here is an alternative Piped link(s):
given how he treated them when he took over.
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I'm open-source; check me out at GitHub.
