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Matt Levine

Elon’s Out

Musk lost interest in pretending to buy Twitter.

Programming note: Ugh, here we are again, huh?

I think it is helpful to start with the big picture. Elon Musk is the richest person in the world, and, like many other rich people, he has some unusual and expensive hobbies. One of his hobbies is that he sometimes likes to pretend that he will acquire public companies. He seems to find this fun, and why not? When he pretends that he’ll buy a public company, it creates a big drama with him at the center of it. He gets to boss people around, mobilize legions of bankers and lawyers and financing sources and random hangers-on  hoping to get the deal done, and then when he gets bored he can tell all those people to go home. “Haha got you,” he can say, and they can all have a good laugh, or he can anyway.