You can do almost anything in China with WhatsApp, and the Chinese Communist Party is monitoring it…
If the jurisdiction of a particular court bothers Elon Musk, he simply moves everything elsewhere. That’s probably why Twitter has merged with a shell company (no actual content behind it), X Corp. According to a document recently filed with the San Francisco division of the United States District Court for the Northern District of California, it is what happened. Conservative political activist Laura Loomer filed the lawsuit against Twitter and its former CEO Jack Dorsey.
A year ago, Musk registered three shell companies in the state of Delaware, all three under some form of the name X Holdings. According to Musk, these companies want to lay the foundation stones for the US equivalent of the Chinese app WeChat, i.e., an all-in-one app. Except that X Corp. was registered in Nevada on March 9, and on March 15, Musk had already filed an application to merge the two companies. X Corp. also has a parent company (X Holdings Corp), and the company, which has $2 million of capital, was also listed by Twitter’s owner in March. So Musk is the CEO of X Corp. and X Holdings Corp., in addition to being the CEO of Twitter, Tesla, and SpaceX. (In the case of Twitter, when will he step down from this position if he has already promised to? Never?)
But what about companies incorporated in Delaware? “It has absolutely nothing to do with “speculation” about Musk’s “‘everything app’ hopes” and everything to do with re-incorporating in Nevada, following the Delaware Chancery Court’s clear signal that it won’t tolerate Musk’s abundant nonsense,” wrote E. W. Niedermeyer on Twitter. He previously wrote a book about Tesla’s dealings. Earlier, former Twitter executives sued Elon Musk in Delaware to force him to comply with an agreement to take Twitter private in a $44 billion deal. Musk tried to dodge an arrangement that seemed terrible at the time (there was a significant discrepancy between the value of the shares and the amount he offered).
The court started the trial in October, and at the time, it seemed to have upped the ante on the takeover. At the time, Musk was willing to stick to the deal’s original terms, dodging objections about the number of bots proliferating Twitter or the security concerns a highly publicized whistleblower raised. But question whether he can leave Delaware for the sake of Nevada state…
And X Corp. strongly suggests a totalitarian sci-fi future where everyone is under surveillance… and he already hinted at his plans a year ago in a tweet.
Source: WCCFTech
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