2,310 karma · joined April 16, 2024
Google is already feeling pain from this.
It was meaningless to Musk for all of about a week, when he came off his ketamine binge and realized what a stupid offer he’d made. But it was a done deal by that point.
According to Reddit[0], it might not have been meaningless to employees with unvested RSUs. They lacked an acceleration clause, so instead of immediately becoming 100% vested at $54.20, the schedule remained intact with a cash payout instead of stock. If the cash payout was relative to current company value, then it was a massive hit.
[0]: https://www.reddit.com/r/Twitter/comments/yykn1e/if_you_work...
The valuation crashing back to reality after going private, and therefore being measured by its intrinsic worth rather than whatever the latest trader paid for a share of it, was an inevitable but meaningless consequence.
Correct!
The government is only allowed to do what is “necessary and proper” to make enforcement effective. There are reasonable arguments on both sides as to whether prohibiting home distillation is as necessary as it was in the late 19th century.