alt Hacker NewsMeaningless to who? The employees? The investors?
Twitter has become text book bad purchase, bad management, and worst "rebranding" in history.
Meaningless to who? The employees? The investors?
Twitter has become text book bad purchase, bad management, and worst "rebranding" in history.
Meaningless to the investors, including employees with vested RSUs. They got bought out at $54.20, way above the soon-to-become market value.
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...