If you’re of a certain age you likely remember the Sacheen Littlefeather, the Native American actress who Marlon Brando chose to receive and ultimately refuse on his behalf the Oscar he won for his appearance in The Godfather. She died earlier this month at age 75. Her appearance at the Oscars in 1973 was the scene of immense controversy at the time and the Academy actually issued a formal apology to her shortly before her death. This morning I read this column in The San Francisco Chronicle which claims that her entire life story of Native American ancestry (specifically White Mountain Apache and Yaqui) was fabricated.
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Militia types in tactical gear monitoring ballot drop off boxes to make sure nothing seems fraudy to them.
A rather amazing column by the Post’s Dana Milbank about the situation in Nevada outside of Las Vegas. All the Big Lie stuff you’d imagine. But just a complete gutting of the officials who’ve administered elections for decades and replacing them with conspiracy theorists who at best simply have no experience administering elections. In other words, chaos by design if not always strictly by intention which further makes elections into a circus and gives GOP officials their opening to simply step in and declare winners because the elections have been too chaotic.
It’s quite difficult to see from the business press whether Elon Musk’s purchase of Twitter is about to go through or not. But if it does it will be critical to look closely at the identities of the foreign and sovereign wealth fund investors who are behind his purchase.
There are good arguments that Musk is purchasing it at as much as four times its actual value. Before he expressed interest in the purchase it was trading at little more than half the agreed purchase price. Put it yet another way, Musk is buying Twitter for almost 50x EBITDA. That happens in the hockey stick world of tech sometimes. But Twitter is not an early stage company.
Yesterday it was reported that Musk plans to cut some 75% of the workforce and radically scale back content moderation. That may be music to some people’s ears for ideological reasons. And it certainly may cut costs. But it won’t be good news at all for any plausible path toward making Twitter profitable or growing its value in a way that makes a successful exit possible.