Showerthoughts

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A "Showerthought" is a simple term used to describe the thoughts that pop into your head while you're doing everyday things like taking a shower, driving, or just daydreaming. The best ones are thoughts that many people can relate to and they find something funny or interesting in regular stuff.

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I don't want to call Twitter X out of spite, but calling the travesty that is X Twitter is an insult to the people that made Twitter what it was. (lemmy.ca)

submitted 1 day ago by [email protected] to c/showerthoughts

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[–] [email protected] 3 points 1 day ago (1 children)

You literally used it as the reason in the comment I replied to

[–] [email protected] 3 points 1 day ago

But they literally HAVE a fiduciary obligation. I agree with you that people use that as an excuse for heinous shit, but in this case they had a formal, legally binding offer. Musk was in breach of contract and they sued for specific performance or damages. Musk didn’t want to pay the damages. If they didn’t sue, Twitter would forfeit I think $1bn in damages and their stock would tank. Not suing would open the door for hostile investors to come in, pretend to buy, back out when they wanted to and time the stock movements. I get what you’re saying, but this is a case where if the board didn’t sue then Twitters shareholders pay for it.

You and I may agree that they never should have been in that place to begin with but that’s definitionally a fiduciary obligation