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Culture War Roundup for the week of December 26, 2022

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I could see Musk buying some of the debt that seems discounted from face about 40 cents on the dollar. Buy the debt to make sure you retain some control post bankruptcy.

I thought that was why he had recently sold some stock. He could take most of his debt out at 70 cents on the dollar max so could take away most of that risks for $10 billion max. Then he could do some kind of friendly deal with twitter shareholders (mostly him to swap his debt for more equity).

Then he doesn’t have to worry about bankruptcy as twitter should have enough revenue to costs non interest expense.

Downside would be that he would trigger CODI at Twitter (ie a tax issue). Haven’t look at their financials, but guessing they sufficient losses to cover any CODI so it’s attribute reduction (assuming no material change of control limitation / srly limitation).

Ya the bankers/accountants would need to fix some of this stuff.