Showerthoughts

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A "Showerthought" is a simple term used to describe the thoughts that pop into your head while you're doing everyday things like taking a shower, driving, or just daydreaming. A showerthought should offer a unique perspective on an ordinary part of life.

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All posts must be showerthoughts
The entire showerthought must be in the title
Avoid politics
- 3.1) NEW RULE as of 5 Nov 2024, trying it out
- 3.2) Political posts often end up being circle jerks (not offering unique perspective) or enflaming (too much work for mods).
- 3.3) Try c/politicaldiscussion, volunteer as a mod here, or start your own community.
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I don't want to call Twitter X out of spite, but calling the travesty that is X Twitter is an insult to the people that made Twitter what it was. (lemmy.ca)

submitted 2 months ago by [email protected] to c/[email protected]

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[–] [email protected] 14 points 2 months ago (3 children)

It's not like it was a hostile take over. They played their part when Musk talked shit and they sued him to follow through with the purchase. They could have easily kept it, but they wanted the money instead.

[–] [email protected] 3 points 2 months ago (1 children)

Not that they are blameless - far from it - but they had a fiduciary responsibility to pursue the deal because it was good for their shareholders

[–] tyler 4 points 2 months ago

That’s not the case at all, though it’s very often believed to be and stated as such on here and Reddit.

https://www.nytimes.com/roomfordebate/2015/04/16/what-are-corporations-obligations-to-shareholders/corporations-dont-have-to-maximize-profits

https://web.archive.org/web/20240529061049/https://skeptics.stackexchange.com/questions/8146/are-u-s-companies-legally-obligated-to-maximize-profits-for-shareholders

[–] [email protected] 2 points 2 months ago (1 children)

It was a public company, the shareholders would've sued them, no?

[–] [email protected] 1 points 2 months ago

Twitter has never, even dating back to it's inception, never ever ever turned a profit. The whole reason Elon mockingly offered to buy it was because they were looking for, and struggling to find, a buyer. They just wanted to break even and walk away.

Instead Elon was like "Hur dur I got 43 billion for ya!" And Twitter was like "SOLD! No takesies backsies!". And Elon was like "Wait, wut?"

And then Elon carried a sink through the lobby in protest.