Matt Levine @matt_levine Twitter profile

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Matt Levine

@matt_levine

1 year

hi 1. my newsletter is still free 2. it is called Money Stuff 3. you can sign up for it here

Money Stuff

A newsletter about Wall Street, finance and other stuff.

www.bloomberg.com

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Matt Levine

@matt_levine

2 years

the reason that elon musk can't get out of the deal over the bots thing is not that he "waived due diligence." it's that he SIGNED A BINDING AGREEMENT TO BUY TWITTER, and that agreement does not have any outs for "i think there are too many bots."

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Matt Levine

@matt_levine

2 years

what is crypto

The Only Crypto Story You Need, by Matt Levine

Where it came from, what it all means, and why it still matters.

www.bloomberg.com

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Matt Levine

@matt_levine

2 years

i was not expecting this to end with the world's richest man spending all day on twitter begging people for $8 but it's extremely funny?

Elon Musk

@elonmusk

2 years

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Matt Levine

@matt_levine

2 years

omg he's gonna pull it off

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Matt Levine

@matt_levine

2 years

lol

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Matt Levine

@matt_levine

1 year

wait so a guy is betting that bitcoin will be at $1mm in 90 days by buying a bitcoin at $1mm now? do i have this right

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Matt Levine

@matt_levine

2 years

obviously the poop emoji made it into the complaint

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Matt Levine

@matt_levine

11 months

honestly limiting everyone to reading 600 tweets a day is the single best product innovation twitter has ever done

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Matt Levine

@matt_levine

2 years

everybody's going to have their own favorite paragraph in this jaw-dropping FT story about FTX's balance sheet but here's mine

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Matt Levine

@matt_levine

3 years

i just joined the amc thing and heard someone say "there were 40 million trades today, at least half of them sales," and in that moment i achieved enlightenment

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Matt Levine

@matt_levine

2 years

happy saturday

Elon’s Out

Musk lost interest in pretending to buy Twitter.

www.bloomberg.com

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Matt Levine

@matt_levine

2 years

oh come on

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Matt Levine

@matt_levine

11 months

"is you taking notes on a criminal conspiracy" etc., but it is kind of great that every time trump sort of hinted to his lawyers that they should do crimes, they took copious notes like "i took this to be a hint that we should do crimes," and handed them right over.

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Matt Levine

@matt_levine

7 months

this is absolutely wild but my favorite bit is maybe when someone asks "what's the #1 thing that CZ might find in diligence that could blow up the deal" and she's like "oh nothing, FTX is pretty straightforward, except for the customer funds shortfall."

Josu San Martin

@josusanmartin

7 months

Caroline Ellison's November 9 all-hands meeting. Cleaned up audio and removed silences.

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Matt Levine

@matt_levine

4 years

it's been kind of a strange day

A Columnist Makes Sense of Wall Street Like None Other (See Footnote) (Published 2020)

Finance journalism isn’t known for its writerly voices. Matt Levine, the author of Money Stuff, is an oddball exception.

www.nytimes.com

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Matt Levine

@matt_levine

4 years

this is some great financial blogging right here

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Matt Levine

@matt_levine

2 years

how does this keep getting dumber

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Matt Levine

@matt_levine

4 years

i also love free speech and think anyone who criticizes my columns on twitter should be fired

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Matt Levine

@matt_levine

3 years

my headline for money stuff tomorrow is gonna be like "a few comments on the ISDA protocol for Libor transition in IR derivatives" and then the body will be "no just kidding here's a ton more gamestop"

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Matt Levine

@matt_levine

7 months

how they know you're a billion-dollar crypto hacker

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Matt Levine

@matt_levine

2 years

my contribution to central park gold cube discourse is that in the sixth paragraph they admit that the cube is in fact hollow

Artnet

@artnet

2 years

New in NYC: A cube made from $11.7 million worth of solid gold is sitting in Central Park—and has its own security detail:

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Matt Levine

@matt_levine

4 years

i tell you what if i got elon musk's twitter password i'd wait until market hours to use it.

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Matt Levine

@matt_levine

10 months

what a great law school case this is. the guy didn’t know that the 150-year-old wall he graffitied is legally 2,000 years old.

The New York Times

@nytimes

10 months

A man who etched his initials and those of his girlfriend in a wall of the Colosseum in Rome wrote a letter of apology, saying he had no idea the nearly 2,000-year-old monument was so ancient. His lawyer says he is hoping for a plea bargain.

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Matt Levine

@matt_levine

2 years

i wonder what percentage of m&a activity is driven by people trying to avoid spending time with their children

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Matt Levine

@matt_levine

1 year

i hope someone will leak all the most effective lines of code at twitter

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Matt Levine

@matt_levine

6 years

hi 1. my newsletter is still free 2. it is called Money Stuff 3. you can sign up for it here

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Matt Levine

@matt_levine

1 year

i’m not the world’s greatest trader or anything but if you have $1mm and you think bitcoin will be worth $1mm in 90 days the trade is to buy **40** of em

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Matt Levine

@matt_levine

2 years

a merger agreement -- in US public-company M&A usage -- is not an agreement to look into the company, evaluate its business and decide whether you want to buy it. it's an agreement to buy it!

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Matt Levine

@matt_levine

1 year

biggest risk to the US banking system is there are 4000 banks and they all have like six names

Republic First Is ‘NOT’ First Republic, But Try Telling Traders That

A case of mistaken identity is sparking a selloff in Republic First Bancorp Inc., which had fallen by more than 40% this month because investors have it confused with embattled First Republic Bank.

www.bloomberg.com

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Matt Levine

@matt_levine

11 months

seems weird that the supreme court didn't know that the paul singer v. argentina case involved paul singer

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Matt Levine

@matt_levine

3 years

he set up an automatic plan to sell stock *in September*. then this weekend he tweeted "hmm should i sell stock, i dunno, here's a poll." the poll closed Sunday. the automatic plan kicked in on Monday.

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Matt Levine

@matt_levine

3 years

everything is so dumb

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Matt Levine

@matt_levine

11 months

money stuff has new promotional photos evoking the concepts of money and stuff

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Matt Levine

@matt_levine

1 year

well.

Sam Bankman-Fried tries to explain himself

The fallen crypto CEO on what went wrong, why he did what he did, and what lies he told along the way.

www.vox.com

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Matt Levine

@matt_levine

1 year

@mattyglesias your bond math here is not so hot. for one thing, a basis point is 1/100th of a percentage point.

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Matt Levine

@matt_levine

8 months

new twitter bio

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Matt Levine

@matt_levine

2 years

i know i am screaming into a well here but a very bad thing is people going around saying that elon musk "waived due diligence" and so can't bring up the bots thing.

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Matt Levine

@matt_levine

1 year

is there anyone who has ever described themselves as any harry potter house other than ravenclaw

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Matt Levine

@matt_levine

2 years

after you sign the merger agreement it simply doesn't matter if you believe that you have enough information to evaluate its prospects as a business! you have agreed to buy it! that's on you man!

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Matt Levine

@matt_levine

2 years

some branding advice

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Matt Levine

@matt_levine

1 year

lol find me on mastodon at @matt_levine @mastodon .social i guess

Jon Levine

@LevineJonathan

1 year

Reporters covering Elon Musk being nuked: Donie O’Sullivan, @CNN Drew Harwell, @washingtonpost Ryan Mac, @nytimes Aaron Rupar, independent

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Matt Levine

@matt_levine

6 years

i think of myself as pretty cynical but i am honestly a bit surprised by all the companies just immediately coming out and being like "oh yeah those were bribes."

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Matt Levine

@matt_levine

2 years

imagine how fun it would be to write the offering memo for the twitter debt syndication. morgan stanley, call me, i will do this for you for free.

Zoë Schiffer

@ZoeSchiffer

2 years

Wow. Elon Musk just told Twitter employees he’s not sure how much run rate the company has and “bankruptcy isn’t out of the question.”

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Matt Levine

@matt_levine

2 years

the musk stuff is fun but it seems bad to use the investigative powers of government to do memes?

Texas Attorney General

@TXAG

2 years

Today I’m investigating Twitter for potentially misleading Texans on the number of its “bot” users. I have a duty to protect Texans if Twitter is misrepresenting how many accounts are fake to drive up their revenue.

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Matt Levine

@matt_levine

2 years

i have just been escorted out of my twitter account, though i received a generous severance (jk obviously i will never log off)

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Matt Levine

@matt_levine

2 years

well that was anticlimactic

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Matt Levine

@matt_levine

2 years

ahaha his list of random demands included “goldman’s working fairness model”

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Matt Levine

@matt_levine

7 months

i kind of figured that they'd play my odd lots clip at the trial but, you know, the other one

Molly White

@molly0xFFF

7 months

The prosecutors then played a recording of SBF speaking in an interview with @matt_levine on Odd Lots in Aug 2021, where SBF (apparently falsely) claimed that FTX had never had a "blowout" where they were net negative compared to the money they made on trading fees.

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Matt Levine

@matt_levine

2 years

i am always saying that everything is securities fraud, but i confess it never occurred to me that charging $9.95 per month for unlimited movie tickets was securities fraud. i feel dumb now.

Former CEOs of MoviePass and Parent Company Charged in Securities Fraud Scheme

An indictment was unsealed today in Miami charging two Florida men for their roles in a scheme to defraud investors of Helios & Matheson Analytics Inc. (HMNY), a publicly traded Florida- and New...

www.justice.gov

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Matt Levine

@matt_levine

2 years

i know this goes without saying but none of these things are things

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Matt Levine

@matt_levine

2 years

to be clear i'm not saying that the deal *isn't* in jeopardy, the market sure thinks it is, i am just saying that this is all so stupid.

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Matt Levine

@matt_levine

2 years

I am committed to completing this newsletter on the agreed price and terms as promptly as practicable.

Elon Musk Does Not Care About Spam Bots

Also the merger proxy and Allianz Structured Alpha.

www.bloomberg.com

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Matt Levine

@matt_levine

1 year

This is a rough newsletter, and could be slightly off; there is also obviously a chance of typos etc.

FTX’s Balance Sheet Was Bad

Serum, customer money, etc.; plus Elon Musk’s Twitter debt and anti-ESG antitrust.

www.bloomberg.com

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Matt Levine

@matt_levine

2 years

oh sure *he* gets to go on vacation

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Matt Levine

@matt_levine

2 years

imagine making a whole television show about bored apes that was *not* about bored apes getting stolen

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Matt Levine

@matt_levine

1 year

this is gonna work isn't it

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Matt Levine

@matt_levine

2 years

dream job tbh

I made $200,000 last year ghostwriting tweets for superstar VCs. It takes me 5 hours a week. Here's...

Twitter is Silicon Valley's most important social club, and top investors pay me big bucks to make them look good in 280 characters.

www.businessinsider.com

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Matt Levine

@matt_levine

2 years

it reminds me of when bloomberg put up a paywall and people tweeted "i like reading matt levine but not enough to pay," which made me really mad. think how much more of it he's getting.

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Matt Levine

@matt_levine

2 years

"due diligence," in US public-company M&A usage, is a thing that you do BEFORE YOU SIGN THE MERGER AGREEMENT

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Matt Levine

@matt_levine

5 years

how is this real

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Matt Levine

@matt_levine

2 years

i wrote 40,000 words not about elon musk

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Matt Levine

@matt_levine

2 years

breakup fee is gonna be $420mm isn’t it

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Matt Levine

@matt_levine

2 years

at the risk of taking this too seriously, i will say it's kind of weird for the richest man in the world to say "this is the public square, i will take it private."

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Matt Levine

@matt_levine

3 years

i hope if teachers still make kids diagram sentences they make them diagram this one

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Matt Levine

@matt_levine

11 months

binance's chief compliance officer had a clearer understanding of US securities regulation than the chief compliance officer at, you know, coinbase

Joe Weisenthal

@TheStalwart

11 months

Absolutely legendary quote here in this SEC complaint. HT: @lopezlinette

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Matt Levine

@matt_levine

4 years

oh lol i'd buy HTZ, that's the trade. "i've decided that Tesla will buy Hertz out of bankruptcy at $69 per share and make its fleet entirely self-driving," i'd be a billionaire and Money Stuff would end on the highest possible note

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Matt Levine

@matt_levine

2 years

still wild that he filed a 13g

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Matt Levine

@matt_levine

10 months

if you add a 150-year-old wall to a 2,000-year-old colosseum it becomes 2,000 years old, which suggests a possible defense that the graffiti also became 2,000 years old

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Matt Levine

@matt_levine

2 years

this is a weird way for the SEC to say that Coinbase is running an illegal securities exchange?

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Matt Levine

@matt_levine

3 years

lol

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Matt Levine

@matt_levine

3 years

As the day wore on, I accepted that this newsletter had not been caused by any sort of glitch but rather by human error, and that I was one of the humans responsible for the error.

Dystopian Future Securities Fraud

Also Citi’s $900 million goof and index insider trading.

www.bloomberg.com

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Matt Levine

@matt_levine

2 years

i really am on vacation though

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Matt Levine

@matt_levine

2 years

i will say that as i write and tweet more about elon i ... get a lot more crypto spam bots in my replies?

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Matt Levine

@matt_levine

7 years

this is achingly beautiful, maybe the best paragraph in the history of tech journalism

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Matt Levine

@matt_levine

1 year

my feed today is like 20% retweets of people trying to trick Chat GPT into becoming sentient and evil

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Matt Levine

@matt_levine

2 years

Honestly this article is so good, its thesis is that the way you win in VC is by becoming an internet micro-celebrity so that founders, who also hang out on Twitter all day, think it's cool to have you on their board.

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Matt Levine

@matt_levine

2 years

you do due diligence to decide if you want to buy the company. then, having decided, you sign an agreement to buy the company. at this point due diligence is over because you have made your decision.

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Matt Levine

@matt_levine

3 years

best paragraph i've ever read about investment-bank risk management

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Matt Levine

@matt_levine

1 year

@rvc330 it is not at all like a call option!

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Matt Levine

@matt_levine

3 years

just absolutely flawless work

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Matt Levine

@matt_levine

11 months

like this is maybe not the level of loyalty and discretion you want from your lawyer

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Matt Levine

@matt_levine

4 years

finally

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Matt Levine

@matt_levine

3 years

i like to imagine that all of dj d-sol’s songs are written for goldman analysts

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Matt Levine

@matt_levine

4 years

fyi Money Stuff is going to be on an unscheduled hiatus for a little bit, see you all soon

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Matt Levine

@matt_levine

4 years

the b unit knows

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Matt Levine

@matt_levine

7 years

Silicon Valley's greatest blind spot: that human beings have bodies and exist in a physical universe

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Matt Levine

@matt_levine

1 year

lol @nntaleb

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Matt Levine

@matt_levine

9 months

strong nickname work here

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Matt Levine

@matt_levine

1 year

magnificent contribution to the "is $400k/yr in new york rich?" discourse

The Fleishman Effect

In a city of Rachels and Libbys, the FX show has some New York moms worried they’re the ones in trouble.

www.thecut.com

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Matt Levine

@matt_levine

1 year

the replies are all “no, he’s printing a futures trade way above market to manipulate the price up” which is not better

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Matt Levine

@matt_levine

2 years

a dao to buy the scarf from jake gyllenhaal

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Matt Levine

@matt_levine

2 years

did everyone know this, i did not know this

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Matt Levine

@matt_levine

1 year

honestly my proudest achievement as a journalist, breaking a bank's machine-learning algorithm for summarizing the news

janbalcerowski

@JGombrowicz

1 year

hey @matt_levine they say in town (i.e. @FTAlphaville ) that you broke the JP’s news processing model

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Matt Levine

@matt_levine

2 years

like elon musk is a republican now and good at twitter so he can just tell the texas AG to investigate his enemies?

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Matt Levine

@matt_levine

2 years

ahahaha cmon legal experts

Charles Gasparino

@CGasparino

2 years

Breaking: Legal experts tell @FoxBusiness that @elonmusk ’s refusal to go through w @Twitter merger agreement could lead to the Musk being thrown in jail if $TWTR seeks an injunction to enforce the contract that he continues to violate more now @TeamCavuto

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Matt Levine

@matt_levine

1 year

I ask this newsletter's subscribers, including venture capital investors, to support Money Stuff the way it has supported its readers over the past 10 years.

Startup Bank Had a Startup Bank Run

One problem for Silicon Valley Bank is that its customers had too much cash, and now they don’t.

www.bloomberg.com

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Matt Levine

@matt_levine

2 years

fyi twitter's poison pill has an exercise price of $210, allowing each shareholder to pay $210 to acquire stock "having a then-current market value of twice the Exercise Price." 2 x $210 is $420.

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Matt Levine

@matt_levine

2 years

love a highly profitable trading strategy

Avraham Eisenberg

@avi_eisen

2 years

Statement on recent events: I was involved with a team that operated a highly profitable trading strategy last week.

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Matt Levine

@matt_levine

11 months

nothing on this twitter feed is ever legal advice, but don't take your legal advice from stringer bell either. sometimes it turns out to be helpful to have copious contemporaneous notes of a criminal conspiracy.

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