Since Elon Musk took the reins of Twitter Inc, the social media
giant has been hit with an increasing number of accusations
that it's failed to pay his dues as it aims to reach
profitability this year in recent months, landlords
consultants and vendors have filed.
Nine lawsuits against Twitter, claiming over 14 million
dollars. Plus interest.
What are the plaintiffs demanding?
Payment? Is a vendor who claims to be
owed, nearly seven thousand dollars for a swag gift box for
Ilan which was ordered by Twitter's marketing department
just days before the forty four billion.
Dollar acquisition deal closed on October 27th in one of the
nine lawsuits, the plaintiff sought dismissal and the case
was closed on Friday and since taking over mr.
Musk has inherited a pile of bills and implemented, a more
stringent spending approach as part of his signature intensity.
His previous experience including lending Tesla ink
through close brushes with financial disaster is involved.
Applying pressure on supplies and vendors when preserving cash
was critical. Now, van Conway, a
restructuring, Burt with about 40 years of experience, helping
struggling, companies for marked.
What Elon Musk is doing is basically simulating a
bankruptcy. He's taking a machete to his
costs. Now, at the time of this
recording, neither Twitter, nor Elon Musk has responded to my
request for comment on the matter.
And since late October, Twitter has undergone a series of
dramatic changes under the leadership of mr.
Musk who has been on a mission to transform the product of a
company that has a history of losing money and reduce Costs in
the face of an Advertiser pull back and deal related dead
expenses. Now he is implemented, Sharp
Staff cuts, and criticized spending and tweets such as the
13 million dollars. The company spends on employee
meals at its headquarters initially Ilan complained that
Twitter was losing over four million dollars a day and
suggested that bankruptcy was a possibility.
However, he later claimed that the company was making progress.
He said Twitter still has challenges but is now trending
to break even We keep at it said that on February 5th and of the
nine lawsuits filed against Twitter.
Three, involve office space, including the company's
headquarters in San Francisco. Where the landlord his claim
that Twitter failed to make almost six point, eight million
dollars in, rent payments for December and January Twitter,
which is a now it's a private company.
They no longer discloses Financial details publicly and
the company reported last year that it owed 239 million dollars
primarily for Office Space. Space and data center facilities
in 2023. In one of the lawsuits filed in
January Canary LLC, a marketing company, specializing in
producing the kind of logo decorated items commonly used in
Silicon Valley Tech companies. Claim that Twitter is behind on
payments of almost 400,000 dollars for various Twitter
branded merchandise now court documents filed by the company
included. A purchase order for most seven
thousand dollars which described a swag gift bag for Ilan.
The Order included a sandblasted logo on a Japanese whiskey
bottle, and extra-large bomber jacket.
And more than $250, worth of socks.
It is unclear whether the items were intended for Ilan, or if he
even received them, a lawyer for Canary declined to comment at
the time of this recording now, mr.
Musk's financial management tactics are not new in 2018
Tesla, where he is. Also the CEO worried its
suppliers as this struggled to increase production of the
model. Three compact car at the time,
the company extended payment terms from 60, to 90 days, and
stopped some payments all together and some smaller
suppliers, even filed, mechanic's liens, legal claims
seeking unpaid compensation against Tesla, alleging unpaid
suppliers and services. And in the midst of the
covid-19, pandemics early unpredictable days, Tesla found
itself in a cache conserving frenzy, like so many other
companies as quarantine procedures closed down much of
its business. The automaker reached To several
landlords to request rent reductions but it wasn't the
only one making such appeals and meanwhile it Twitter, the
aftermath of a turbulent acquisition deal involving none,
other than Elon Musk himself has led to a legal to speed over
alleged unpaid bills. According to court records
Twitter exacts, a range. Last minute, charter flights to
shuttle then Chief, marketing officer Leslie burland between
New Jersey and San Francisco as they scramble to wrap up the
deal. But after the dust settled, His
head of global strategic sourcing.
Marty O'Neill refused to pay the one hundred and ninety seven
thousand seven hundred and twenty five dollar bill from
private jet Services. Citing the company's contract
with a charter service that only designated Representatives could
book flights. What a Twitter employee pointed
out, the former CEO of Prague or wall had approved flights and
Leslie was the main liaison between Twitter and musk O'Neill
responded with the finality, the seem to close the door on the
issue. New management is not going to
budge. The case was voluntarily
dismissed by private jet services on Friday but neither
side has commented on the matter.
Hey if you could do me a favor and hit the Subscribe button on
whatever podcast platform you're listening and right now, I'd
greatly appreciate it. Now let's get into some SpaceX
news. SpaceX is super heavy rocket.
Recently completed a static fire test in South Texas where 31 out
of 33 of its engines ignited with Elon Musk expressing
satisfaction with the results in the successful test received.
Praise from NASA. - traitor, Bill Nelson, who recognize that
the Starship super-heavy system is integral to NASA's Moon, to
Mars architecture, and helping astronauts land on the moon.
This success is a significant milestone for SpaceX and NASA,
but the question remains, what comes next?
Now, musk hopes that the first orbital test of the Starship,
super heavy system will occur in March.
However, before this launch can happen SpaceX.
Engineers must evaluate the results of the static fire test
and determine if the rocket is ready.
For a launch. Additionally, the Federal
Aviation Administration, the FAA will need to approve this
launch. And the regulatory agency has
been considering issuing, a launch license for a while and
this is cause delays in the past.
Now, NASA views the development of the lunar lander version of
the Starship with much urgency, but the FAA doesn't have to
follow by NASA's rules. And the first orbital flight of
Starship becomes crucial is SpaceX president wind.
Shotwell suggested that the company would like To launch the
mammoth rocket ship 100 times without a crew before putting
people on it. Even though shout well, went on
to say that this plan was aspirational is suggest.
This SpaceX will need to launch. It least almost every single
week if it intends to be ready to take astronauts to the lunar
Surface by 2025. And if SpaceX makes Starship
operational, it will have pulled off a history changing
development, the Starship will take humans back to the moon and
could be instrumental in opening the Our solar system to human
civilization musk would like to use the rocket to go to Mars and
found a settlement on the red planet.
And recently SpaceX increased its estimate on how much the
Starship could take into space. Reusable version will be able to
convey 150 metric, tons of people and material into low
earth orbit. But in Expendable version of the
Starship that would not carry extra fuel, would be able to
take an eye-popping 250 metric tons into space.
By comparison the Expendable, Saturn 5 could carry.
In 18 metric tons into space, which included the third stage
with unexpended propellant, and the Apollo command/service and
lunar modules, over all the success of SpaceX is super
heavy. Rocket MRSA is over.
All the success of SpaceX is super heavy.
Rocket marks a significant step forward for the Starship super
heavy system. And its role in space
exploration, if all goes well, the first orbital test of
Starship will occur in March. Followed by the mammoth rocket
ship launching 100 times without a crew.
Taking astronauts to the lunar Surface.
By 2025, the Starship will take humans back to the moon and
could be instrumental in opening the inner solar system to human
Civilization. Now we're going to take a quick
break in when we get back. We're going to be talking about
Teslas, opening of the supercharger Network, to all EVS
back to the Elon Musk podcast. I'm your host, William Walden.
Now, electric vehicles have taken the World by storm, and
one of the most significant roadblocks to their widespread.
Adoption is a lack of charging infrastructure Tesla.
Company that has been on the Forefront of EV Tech has a
solution open up. Its supercharger Network to all
electric vehicles. This move by Tesla could be a
game changer in making V's more accessible to all Americans in
the Biden. Ministration says that Tesla
will make 7500 electric vehicle Chargers compatible with non
Tesla vehicles, however, it's unclear.
How Tesla will do this since their vehicles, use a different
charging port than the industry standard.
And despite this uncertainty it is A massive step towards making
America's most robust EV charging network available to
drivers of more affordable. V's.
According to Cameron's of irony, a Ford dealership manager said,
Evie's have been very popular. It's made up about 40 percent of
our sales this year actually. And when you include hybrids and
plug-in hybrids, it's over 50% to support the growing
popularity of electric vehicles. The bipartisan infrastructure
package set aside 7.5 billion dollars for 500,000.
EV Chargers in the US the plan would put them largely along.
Major highways, a shift in public infrastructure, that
could mean big business for people like Rory, baldry bald,
Ria Boise based, businessman does good business, replacing
internal combustion engines with giant batteries and classic
cars. He said we're motorhead's, we
like the noise, we like the sound, we were all concerned
that. Once we built the first one that
we wouldn't enjoy it, because of the lack of the sound and I love
it. I think it's fantastic.
The massive investment in Evie. Charging infrastructure could
make Eevee's more accessible to a broader range of drivers.
However, it also raises questions about regulating
electric charging stations, such as ensuring prices are fair in
the energy. One pays for it is what they
actually get, Tina butcher, supervisory, physical scientists
at the National Institute of Standards and Technology said,
if I were a business that I own, an electric vehicle, fueling
station, I want to make sure that my competitors are held to
the same rules that I am anytime.
Someone can make a quick Buck, they're going, Which is why we
need some sort of Regulation. Larry Caldwell, who owns an EV
agreed saying we need some sort of Regulation to ensure that all
charging stations operate fairly and consistently Tesla is
working to make us charging ports compatible with non
Tesla's by the end of next year. It is one step on the long road
to electrifying America. With the federal government's
recent investment. In EV charging infrastructure.
V's will become more accessible in a Greener.
Future will be within reach. Now, there's an important.
To this charging infrastructure in the lack of charging
infrastructure right now has long been a roadblock to the
widespread adoption of electric vehicles.
Unlike gasoline stations which are a bit quickest.
Charging stations are few and far between it can be
challenging to find a charging station when you need it.
And even when you do you may have to wait in a long line for
hours to get a charge out. Tesla Supercharger network was a
game changer when it was introduced and the superchargers
are capable of providing up to 120 kilowatt.
So power allowing Tesla vehicles to add up to 200 miles of range
and around 15 minutes. However, until now, the
superchargers were only available to Tesla owners with
Tesla's announcement that it will make 7500 electric vehicle
Chargers. Compatible with not Tesla's
drivers of other V's will have access to this fast charging
Network in the future. Hey, thank you for listening to
the Elon Musk podcast. I'm your host will Walden and I
want to urge you to, please hit the Subscribe button, on
whatever podcast platform that you're on.
Right now, it really helps the show out.
Amenda SLI. If you enjoy Elon Musk, and if
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Take care and I'll see you in the next one.