It's Only the End of the Beginning

Yesterday Elon Musk threw in the towel on his effort to back out of his agreement to buy Twitter. He will go ahead at the full $54.20 per share ($44 billion):

Elon Musk has offered to close his acquisition of Twitter Inc. on the terms he originally agreed to, a sudden and unexpected comedown for the billionaire entrepreneur that could end a monthslong battle he waged to get out of the $44 billion deal...

Twitter confirmed receipt of the letter and said it intends to close the transaction at the original price of $54.20 a share.

Your humble investor-blogger had bought a few TWTR shares for $51 in May and had given up hope of turning a profit. Although the purchase agreement was supposedly ironclad, Elon Musk was the richest man in the world. At the very minimum his expensive lawyers and bankers could get Twitter to cut the price, but he abruptly conceded.

Did he finally see value in Twitter that had escaped the notice of everyone else?

And what exactly is "X"?

Buying Twitter is an accelerant to creating X, the everything app

— Elon Musk (@elonmusk) October 4, 2022

You can love him or hate him, but it's very difficult to ignore Elon Musk.