FTA: Parler sold to firm that says conservative Twitter clone isn't a "viable business."
apparently, neither is Twitter! so it looks like they got that part of the clone right
apparently, neither is Twitter! so it looks like they got that part of the clone right
Another thing to keep in mind is the mind-boggling amount of debt service that Twitter has to deal with.
https://www.businessinsider.com/twitter-stopped-paying-rent-...
Unfortunately reporting on this is awful and biased and doesn't include nuance like this. It's just "omg twitter is broke and run by an idiot".
As far as I can tell the dispute is that twitter didn't pay the rent and the building owner wants them to pay the rent, which is how this has been reported.
9 14. On or about November 22, 2022, Plaintiff served Defendant with a demand to
10 increase the LOC by $10,000,000 pursuant to Paragraphs 13 and 25 of the Lease. A true
11 and correct copy of such demand is attached hereto as Exhibit 2 and incorporated herein by
12 this reference. Defendant did not, within the time specified in the notice, or at any other
13 time thereafter, increase the LOC by $10,000,000. Rather, Defendant contended, in
14 response to Plaintiff’s notice, that it was not required to increase the LOC by $10,000,000
15 upon a transfer in control of Defendant under the terms of the Lease.still unclear why elmu thinks he shouldn't have to pay rent
The problem is that Musk bought them on credit which added a massive amount of new debt settlement so now they need something close to a billion dollars of new profits annually to be where they were.
Olympic media is based out of Arlington, VA.
(Note: No, I don't actually think this is the FBI using government funds to buy a social media site just to know who was using the site. I'm just having fun making up a conspiracy web from whole-cloth).
and goes on to say "While the Parler app as it is currently constituted will be pulled down from operation to undergo a strategic assessment, we at Starboard see tremendous opportunities across multiple sectors to continue to serve marginalized or even outright censored communities—even extending beyond domestic politics,"