Good morning everyone.
On Friday, Elon the babymaker walked away from Twitter. It turns out, that solving for bots is harder than going to Mars.
Matt Levine calls it/him ‘stupid and awful’ and has a good piece on what we can expect:
I like Twitter’s odds — its odds of getting specific performance and making Musk close the deal — in court, but I don’t think anything is a certainty at this point. And obviously Musk will make this fight as unpleasant as possible; already the attorney general of Texas has opened an investigation of Twitter’s bot numbers in order to harass Twitter and capitalize on Musk’s popularity with Republican voters. I have suggested in the past that Twitter’s best weapon in this dispute would be banning Musk from Twitter, because he is such an addict, but in fact he recently stayed off Twitter voluntarily for nine days, which I assume he did just to prove to Twitter the company that he can survive without Twitter the product. It is all going to be pretty awful and stupid.
Other great posts from the week…
Josh Brown reminds us to ‘stay out of the rabbit holes‘.
Two stocks I am considering adding right now are Spotify and Netflix (I own some already). Ben Thompson dives into the aggregation theory updates on the two.
I was on ‘The Investor’s’ podcast last week and people seemed to enjoy my riffs on past and present markets and wins and losses.
Michael Batnick details the ‘worst half ever‘ for the markets.
Finally, Ben Carlson on ‘what people should buy during a bear market‘.
Have a great Sunday.
