Elon Musk paid a fortune for Twitter and is now destroying it.
Sam Bankman-Fried started FTX and made billions — then drove FTX into bankruptcy.
The rule used to be: “You break it, you own it.”
Now, if you’re rich enough, it’s the opposite: “You own it, you can break it.”
@rbreich "The saying ,'if you owe the bank $100, that's your problem, but if you owe the bank $100 million, that's the bank's problem' might apply here," said Wu, explaining that the investors and other lenders could take over the company if Twitter went through a bankruptcy proceeding, with Musk still serving as its chief executive. "Bankruptcy would also allow Musk to refinance the debt, which would make the company more financially stable."
Still wondering about this.
https://www.npr.org/2022/11/12/1136205315/musk-twitter-bankruptcy-how-likely
