Elon Musk is suing the law firm that forced him to buy Twitter

[Bluescreendeath]

Hope he wins .... by and large, law firms and lawyers are over paid by any normal persons standards. I have yet to meet the lawyer that is worth over $100 an hour and a law that REQUIRES every law firm to submit an itemized list of billings is far overdue .....

The lawyer is only getting a fraction of the amount he is charging. In hourly billing for professional jobs, it is typical that 35-40% goes to the salary of the person doing the job, and 35-40% goes to the paying the salaries of support professionals (such as admin, secretary, HR, etc staff) and overhead costs like rent, utilities, etc. The rest (eg. 20%) goes to profit (which can be reinvested into the business by hiring more staff, buying/renting a new location, paid out as bonuses, etc). So a lawyer who bills $100 an hour is probably only getting paid $35-$40 an hour.

Furthermore, the lawyers who get the most money aren't even paid by the hour. They're paid by contingency - eg. they get paid nothing from the client and get nothing if they lose the case. They only get paid from the percentage of the winnings IF they win the case.

 

[Bluescreendeath]

Uncle Al said: Hope he wins .... by and large, law firms and lawyers are over paid by any normal persons standards. I have yet to meet the lawyer that is worth over $100 an hour and a law that REQUIRES every law firm to submit an itemized list of billings is far overdue .....

The lawyer is only getting a fraction of the amount he is charging. In hourly billing for professional jobs, it is typical that 35-40% goes to the salary of the person doing the job, and 35-40% goes to the paying the salaries of support professionals (such as admin, secretary, HR, etc staff) and overhead costs like rent, utilities, etc. The rest (eg. 20%) goes to profit (which can be reinvested into the business by hiring more staff, buying/renting a new location, paid out as bonuses, etc). So a lawyer who bills $100 an hour is probably only getting paid $35-$40 an hour.

Furthermore, the lawyers who get the most money aren't even paid by the hour. They're paid by contingency - eg. they get paid nothing from the client and get nothing if they lose the case. They only get paid from the percentage of the winnings IF they win the case.

 

[DSirius]

So many of you hate people, bcz they are ingenious and/or rich.
It's different if you inherited billions and are a louse, but when you make it yourself... then you really need to stop the hate, it has no basis. Your jealousy is showing.

Wow, back in old days, what your affirmations promote about billionaires in this forum would be easily recognized as propaganda. You only have to replace politicians with billionaires.

Elon may be right in this situation, but your post also lacks facts checking.

Who Is Elon Musk's Estranged Father? All About Errol Musk

Here's everything to know about Elon Musk's estranged father Errol Musk, from his former career as the reported owner of an emerald mine to his relationship with his Tesla CEO son.

people.com

And no, nobody with common sense is jealous on billionaires, even like Musk or Zuck.
They already showed that they reached their limits. Like any other people.

 

[Bluescreendeath]

Twitter 2.0 is non of that^ and turning a profit for the first time in 8 years. Elon is for free speech and that makes him gold!

Elon Musk spent years fooling left wing folks who bought into his eco-green virtue signaling, and it looks like he is now successfully fooling a new demographics of right wing folks who bought into his free speech virtue signaling.

Free speech my @$$, more like paid speech and "approved" speech. Musk is limiting the number of tweets viewers can see/read, banned and then suspended journalists on Twitter, and banned a kid for posting publically available FAA flight data of airports that private planes fly to despite literally saying he wouldn't ban the kid a few months earlier.

We have no evidence Twitter is turning a profit. The only thing we know that that Twitter ad revenue fell to 3 billion in 2023 from 5.1 billion in 2021, and Musk laid off a lot of staff. Maybe Twitter is profitable or maybe not - you would not know. None of us knows because Twitter stopped reporting their fiancial details publicly after Musk bought the company.

 

[Freddie159]

I hope the Judge whacks him with double the amount in penalties!!

 

[J95qRP7]

So many of you hate people, bcz they are ingenious and/or rich.
It's different if you inherited billions and are a louse, but when you make it yourself... then you really need to stop the hate, it has no basis. Your jealousy is showing.

Elon is going after the lawyers, bcz of illegitimate console & advice..! (Namely stemming from Twitter's fake/dupe accounts)



Not because he regrets buying Twitter.
Elon has already said that buying Twitter was one of the best things he's ever done, bcz it was for Humanity. Nobody can stand a place that has adolescent posters shouting in your face some rant they heard 4-days ago (on group-think TV), trying to shut down any conversation and calling anyone who disagree with their ideas as racist, or bigot, etc..

That ovr hyped noise^ just didnt mirror America's thoughts, nor was it a legit "Town Square" with all the paid-for SJW censoring people until it became a echo-chamber of paid operatives with many accounts..


Twitter 2.0 is non of that^ and turning a profit for the first time in 8 years. Elon is for free speech and that makes him gold!

Come on mate. Elon didn't want to buy Twitter, which is why it took months to compel him to follow through. Musky has said he overpaid for Twitter. Someone who is smart at business doesn't do that. Ol Musky isn't about free speech unless that speech is hate speech. There are countless examples that can easily be found where the Head Twit banned people from Twitter because of his thin skin and was butt hurt. At least the previous Twitter board paid their bills. I guess it's easy to save money when you steal access to property, withhold wages that former employees are owed by law and not pay your hosting companies to keep your site online.

That's not even touching on the fact his most recent big idea is to rate limit users when your site lives off advertising money still. Nothing like limiting how many ads you can delivery to your users of the platform.

Please, don't tie your self-esteem and self worth to a man who would sell you out for 1 cent, or even just for the hell of it. He doesn't care about you and you shouldn't care about him.

 

[captaincranky]

Please, don't tie your self-esteem and self worth to a man who would sell you out for 1 cent, or even just for the hell of it. He doesn't care about you and you shouldn't care about him.

I'm convinced that those who profess to worship Musk, are rather low on self esteem, overcompensating with a massive front of ego, and living vicariously through him..

In reality, isn't "hero worship", at its root cause, wishing you could be like someone, to have what they have, but can't "quite" get there? "Jealousy", and "admiration" aren't synonyms, but they do tend to rub up pretty close against one another..

Or maybe it's simply the case that some people are overly susceptible to brainwashing.

 

[Kashim]

Hope he wins .... by and large, law firms and lawyers are over paid by any normal persons standards. I have yet to meet the lawyer that is worth over $100 an hour and a law that REQUIRES every law firm to submit an itemized list of billings is far overdue .....

I hope he loses ... I hate lawyers as much as the next guy ... but you don't go to a restaurant and have a big meal, pay for it, leave a generous tip, then a year later sue the chef and waiters for overcharging you. This whole mess rests entirely with Musk and no one else. He offered to buy Twitter on a whim for a ridiculously stupid price. Then he hired a law firm to try and weasel out of it. That didn't work, so now he's trying to sue everyone under the sun for his own mistakes. If you are not happy with a bill presented to you by a law firm you don't just pay it and then sue them a year later. Why didn't he complain at the time? These are high priced lawyers who know how to cover their backs. Musk will most likely get nothing back from them.

 

[Kashim]

Man you tech sites really hate Elon Musk that much huh.

The thing about Musk is that everyone used to like him back when he was only famous for Tesla and SpaceX. We all assumed he was a boy genius of epic proportions. That was back before he was constantly in the news, constantly ranting and raving about every stupid subject, and starting pointless fights on Twitter. Then people started to realize he's just your average ***** who fell *** backwards into money.

This is why people don't like him, because if you give anyone a megaphone and enough time they will show you their true selves. It's like that saying, it's better to remain silent and be assumed a fool than to open your mouth and remove all doubt. Except in Musk's case he should've remained silent and let us all assume he's a genius, but no he just loves attention so much he can't keep his fool mouth shut.

 

[Kashim]

Free speech my @$$, more like paid speech and "approved" speech.

Yup, free speech as long as you agree with Musk. One of the first things he did after taking over Twitter was ban every account that was mocking him, was critical of him, or tracked his whereabouts. He did that AFTER promising he wouldn't do it if he bought Twitter. There's a man whose word you can take to the bank!

Elon has already said that buying Twitter was one of the best things he's ever done, bcz it was for Humanity. Nobody can stand a place that has adolescent posters shouting in your face some rant they heard 4-days ago (on group-think TV), trying to shut down any conversation and calling anyone who disagree with their ideas as racist, or bigot, etc..

Well if Elon said it then it must be true! He has won many a truth telling contests. Everything he does is for "humanity" and not for money. He doesn't care about money. Rich people get rich by not caring about money. They'll happily throw away $40+ billion on a whim... for humanity!

That ovr hyped noise^ just didnt mirror America's thoughts, nor was it a legit "Town Square" with all the paid-for SJW censoring people until it became a echo-chamber of paid operatives with many accounts..

Twitter 2.0 is non of that^ and turning a profit for the first time in 8 years. Elon is for free speech and that makes him gold!

Let's face it, Twitter was already a sinking ship when Musk bought it. You say it's making profit now? Sure it is, BARELY. And that's only because he fired 90% of the staff who actually kept it running. Now everyone is leaving Twitter like rats leaving a sinking ship. Yeah, there will be a small portion who will stay. You know, all the ultra-MAGA right wing extremists, white supremacists, racists, etc. they absolutely love the new Twitter. It's a wild-wild west of "free speech" where you can say anything and attack anyone without consequences. What a surprise that the vast majority of the population with a functioning brain do not want that.

trying to shut down any conversation and calling anyone who disagree with their ideas as racist, or bigot, etc..

That ovr hyped noise^ just didnt mirror America's thoughts, nor was it a legit "Town Square" with all the paid-for SJW censoring people until it became a echo-chamber of paid operatives with many accounts..

This line of reasoning always cracks me up. First you say that they were trying to shut down any conversations where they disagreed with you, followed by saying that anything THEY say is just from paid-for SJW echo-chambers. Do you not see the irony in your logic? They try to censor everything you say simply because they disagree with you. But everything THEY say is just propaganda and should be ignored. Perpetual victim hood must make you feel warm and fuzzy inside.

PS. - If all you free speech advocates are being censored/silenced by the paid-for SJW liberals, etc. then why is it that I see you crying about it literally everywhere on the internet? For a group claiming to be silenced you sure do make a lot of noise on every facet of social media imaginable.

 

[JamesBlond]

Elon is going to end up in straight jacket on Mars one day.

He might own mars soon the way he is going.....

 

[colossusrage]

Hope he wins .... by and large, law firms and lawyers are over paid by any normal persons standards. I have yet to meet the lawyer that is worth over $100 an hour and a law that REQUIRES every law firm to submit an itemized list of billings is far overdue .....

Someone's divorce didn't go well.

 

[Rudyduu]

Without his consent ? Didn't he or his lawyers read a contract before sign it ? what a clown...Hope he's better as measuring his d**ck than ruling companies...

He and his lawyers wrote the contract with the provisions for waving due diligence. The contract was so attractive it left tons of room for people to take advantage of him. But, what's spending $100m he shouldn't have spent following the $40B he also shouldn't have spent.

 

[PEnnn]

Turns out the supposedly genius guy is just a rube who doesn't read contracts, overpays by many billions, childishly destroys his huge investment in Twitter AND now he's whining!

Could be it's all due to the third stage of syphilis.

 

[axiomatic13]

Twitter is already dead.

 

[wiyosaya]

The thing about Musk is that everyone used to like him back when he was only famous for Tesla and SpaceX. We all assumed he was a boy genius of epic proportions.

The thing is, Musk did not start Tesla or invent Tesla's EVs, contrary to popular belief.

History of Tesla Motors

Contrary to popular belief, Tesla was not an overnight success. The company was founded in 2003 by two Silicon Valley engineers Martin Eberhard and Marc Tarpenning, who wanted to prove that "electric vehicles can be better, quicker and more fun to drive than gasoline cars.”8

Business Insider. "The Making of Tesla: Invention, Betrayal, and the Birth of the Roadster."
9

The seeds of the company go back to 1990 when Tarpenning met Eberhard, then an engineer at Wyse Technology, and they became good friends. The two had much in common including a passion for starting companies, and they soon launched companies including NuvoMedia, which released the Rocket eBook in 1998.

Tesla's Got the Keys: A History of Its Success

Tesla’s cars have catapulted the company into the spotlight as one of the most successful independent automakers. Learn about the history behind the newest auto giant.

www.investopedia.com

It's my understanding that when Musk bought out Tesla, it was in the contract that he would be allowed to put his name on everything as if he had started Tesla and invented its EVs even though he most definitely did not. Talk about being a massive pretender if not fraud.

That was back before he was constantly in the news, constantly ranting and raving about every stupid subject, and starting pointless fights on Twitter. Then people started to realize he's just your average ***** who fell *** backwards into money.

Agreed!

This is why people don't like him, because if you give anyone a megaphone and enough time they will show you their true selves. It's like that saying, it's better to remain silent and be assumed a fool than to open your mouth and remove all doubt. Except in Musk's case he should've remained silent and let us all assume he's a genius, but no he just loves attention so much he can't keep his fool mouth shut.

That's for sure. He was supposed to have been on Mars by now. Instead, that is just another timeline that he used his mega-phone to boast about and could not perform.

 

[wiyosaya]

Twitter is already dead.

For me, it was never alive.

 

[DSirius]

For me, it was never alive.

Best joke of the day.

 

[Ben Myers]

Elon! Poor baby! Did not do his do do diligence to see all past and future Twitter financial transaction.

 

[Ben Myers]

The thing is, Musk did not start Tesla or invent Tesla's EVs, contrary to popular belief.

Tesla's Got the Keys: A History of Its Success

Tesla’s cars have catapulted the company into the spotlight as one of the most successful independent automakers. Learn about the history behind the newest auto giant.

www.investopedia.com

It's my understanding that when Musk bought out Tesla, it was in the contract that he would be allowed to put his name on everything as if he had started Tesla and invented its EVs even though he most definitely did not. Talk about being a massive pretender if not fraud.

Agreed!

That's for sure. He was supposed to have been on Mars by now. Instead, that is just another timeline that he used his mega-phone to boast about and could not perform.

"... could not perform." Elon needs a dose of financier's viagra. ;>)

 

[Julnor]

Sounds like capitalism to me. Funny how the rich hate it every time it's done to them.

 

[sdms96825]

Not a Musk fan, but I hope he wins this one. That law firm billing was outrageous. I wonder if someone onthe board got a "kickback"?