Elon Musk has made a career of making grandiose promises. And his ambitions have earned him the admiration of legions of fans. The problem is, that the entrepreneur rarely makes good on his promises.Musk’s latest failure (scheme? PR move?) was an attempt to buy Twitter. But the tech mogul dropped out of the deal saying that the website is overrun with bot accounts. Twitter plans on holding his feet to the fire. According to CNBC’s David Faber, this could end with Musk going to jail.
During a Monday segment, Faber said of the entrepreneur’s excuses, “Even if you were to prove that there were a higher number of bots, you still have to prove that it actually is a material adverse effect.”
Jim Cramer jumped in, “I don’t think it is. He spent a lot of time, and his team has spent a lot of time with management going over very strong periods of open store, meaning that Musk really felt that they had gotten a really good look at it. So that is going to hold against them. I still think the likelihood that they get some sort of price cut is good. Boy, the board is in trouble if they just get that walk away.”
Faber then continued:
“Most of the people that you speak with — or at least, certainly that I have — believe that will be the case. Then the question is: you are forcing Mr. Musk to buy the company, does he actually agree to do it? There is this argument being said lately that, well, maybe he will not comply with that. Then we would have a situation where they could put him in jail.”
Watch a clip of the segment below:
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Todd Neikirk is a New Jersey-based politics and technology writer. His work has been featured in psfk.com, foxsports.com, and PoliticusUSA. An avid pet lover, he has been known to contribute to Pet Lifestyles Magazine. He enjoys sports, politics, technology, and spending time at the shore with his family.