SOCIAL
Twitter’s Legal Team Unleashes on Elon Musk, as it Moves to Force Musk to Complete Takeover Deal
Well, this is certainly a pointed opening to Twitter’s legal case against Elon Musk, and his attempt to cancel his $44 billion acquisition of the app:
“In April 2022, Elon Musk entered into a binding merger agreement with Twitter, promising to use his best efforts to get the deal done. Now, less than three months later, Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests. Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he – unlike every other party subject to Delaware contract law – is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away.”
Nothing being hidden behind legal jargon there, Twitter is pissed, and they’re now looking to make Elon pay for what he’s done to their stock, their company, their future prospects, etc.
In the latest development in the ongoing Twitter/Musk saga, Twitter has officially launched legal action to counter Musk’s effort to terminate the deal, due to, according to Musk, Twitter’s unwillingness to provide him and his team with adequate data to prove its usage claims, and other elements.
But Twitter says that Musk can’t exit the deal now, and it has a range of examples of bad faith actions and public disclosures on Musk’s part which it says are in violation of the original agreement.
Specifically:
- Twitter says that Musk has been acting against the proposed deal since the market started its recent downturn, and has breached the merger agreement repeatedly in the process
- Twitter says that Musk has claimed to put the deal ‘on hold’ pending the satisfaction of ‘imaginary conditions’, and has breached his financing efforts obligations in the process
- Musk has boasted publicly about violating his non-disclosure obligations under the original contract, both in relation to Twitter’s mDAU metric calculations and other internal data points
- Musk has also repeatedly violated his non-disparagement obligation in the contract through public criticism of the company, and has misused confidential information in his public statements about fake accounts and Twitter’s processes.
- Twitter says that one of the main reasons Musk cited for buying Twitter was to rid the platform of bots, which Musk is now using as a reason not to buy it. The two stances seem to conflict
In summary, Twitter says that Musk has leveled serious charges, both publicly and through lawyer letters, that Twitter has misled its investors and customers, which has materially damaged the company’s prospects, in violation of the agreed terms of the acquisition. Additionally, Twitter has outlined, in detail, how it’s worked to meet all of Musk’s information requests, beyond what it’s under obligation to do.
Yet, despite, this, Musk is now looking to exit the deal anyway – which, Twitter says, is actually the ultimate plan:
“From the outset, [the] defendants’ information requests were designed to try to tank the deal. Musk’s increasingly outlandish requests reflect not a genuine examination of Twitter’s processes but a litigation-driven campaign to try to create a record of non-cooperation on Twitter’s part. When Twitter nonetheless bent over backwards to address the increasingly burdensome requests, Musk resorted to false assertions that it had not.”
Twitter’s overview is a thorough and scathing assessment of Musk’s actions, which shows that Twitter has been taking notes, and has measured its legal case carefully. In some ways, the submission reads like a list of grievances that Twitter’s been just waiting to air out, and now, with Musk challenging the deal, it has an opportunity to do so.
Which is likely not good – either for Musk or ultimately Twitter itself.
Twitter also makes some interesting revelations about how the Musk push has impacted the company, including this note about employee retention.
“Musk has unreasonably withheld consent to two employee retention programs designed to keep selected top talent during a period of intense uncertainty generated in large part by Musk’s erratic conduct and public disparagement of the company and its personnel […] Employee attrition, meanwhile, has been on the upswing since the signing of the merger agreement.”
Another reason stated by Musk’s team for seeking to exit the deal has been the loss of key executive staff at the company, which materially alters the make-up of the organization. Twitter not only says that this is not part of the original agreement – as it specifically ensured any such provision was left out – but also, as pointed out here, that it has tried to work with Musk to address exactly this either way.
Twitter has also included this description of Musk’s efforts to use its data API to scan for fake accounts:
“Twitter also explained that it had placed “no artificial throttling of rate limits” [on Musk’s access]. In follow-up correspondence, it became clear that the “limit” Musk had bumped up against was not the result of throttling but a default 100,000-per-month limit on the number of queries that could be conducted. With his undisclosed team of data reviewers working behind the scenes, Musk had hit that limit within about two weeks.”
What the heck are Musk and Co. doing there? 10k queries against the data, in two weeks? No idea how they’re trying to find fake and spam accounts, but that seems excessive (Twitter notes that it removed the query cap to enable Musk’s team to continue their analysis).
Overall, what Twitter’s saying here is that it believes Musk has acted in bad faith, and that he’s only seeking to get out of the deal now due to the market downturn, which has impacted his personal wealth, along with overall market performance.
But letting Musk exit now would leave the company in a much worse state:
“Because of defendants’ breaches and the uncertainty they have generated, Twitter faces irreparable harm. Defendants stipulated in the merger agreement that “irreparable damage for which monetary damages, even if available, would not be an adequate remedy would occur in the event that the parties hereto do not perform the provisions of this Agreement (including failing to take such actions as are required of it hereunder to consummate this Agreement) in accordance with its specified terms or otherwise breach such provisions.”
There’s also this:
“For Musk, it would seem, Twitter, the interests of its stockholders, the transaction Musk agreed to, and the court process to enforce it all constitute an elaborate joke.”
Richest man in the world or not, Twitter’s sick of Musk’s antics, and it clearly has no intention of letting him off the $44 b hook.
Twitter also reiterates that there is no financing contingency and no diligence condition.
“The deal is backed by airtight debt and equity commitments.”
‘Airtight’, which Twitter will be looking to enforce as it seeks to consummate the Musk deal, whether Elon likes it or not.
And again, the ultimate loser here will be Twitter, the company, which continues to lose staff due to uncertainty, and will eventually end up in the hands of someone who really doesn’t want to own it.
That doesn’t seem like the ideal foundation for future success, but that’s where we’re at.
Musk hasn’t provided any detailed response to Twitter’s counter claims as yet, though he did once again post a cryptic tweet following the release.
Whether Musk will actually be laughing at the end of this seems increasingly doubtful.
SOCIAL
Who is HRH Collection founder and YouTuber, Alexandra Peirce?
ALEXANDRA Peirce proves there’s no such thing as bad publicity, garnering more fans and subscribers every time she posts one of her infamous video rants.
Peirce, known better by her social media pseudonym HRH Collection, has been an internet mainstay for years, and her fame only continues to grow after sharing more of her contentious takes online.
Who is Alexandra Peirce?
Alexandra Peirce is a social media personality, influencer, and jewelry designer.
Peirce was born on May 13, 1984, in the US.
She currently resides near Los Angeles, California.
Before launching her famous YouTube channel, Peirce graduated from college in 2007 with a degree in political science.
In 2009, she earned a master’s degree in international business.
While in graduate school, Peirce studied abroad in Shanghai, China, where she says she “fell in love with all things Asian.”
Peirce returned to the US during the peak of the 2008 economic recession, forcing her to move in with her parents.
Despite applying for countless jobs, she couldn’t land a position, leading her to create her YouTube channel.
Peirce post her first video, a “What’s in my bag” vlog where she walked viewers through everyday items she carried in her purse.
Peirce kept the channel going even after landing a job in accounting, posting videos and designing jewelry pieces during lunch breaks and after hours.
Fueled by her growing subscriber count, her design hobby would eventually turn into a full-fledged company, HRH Collection.
While Peirce now runs her jewelry line full-time, she is even better known on the internet for her viral videos, which typically show Peirce sitting in her car, ranting about anything from current events and pop culture trends to hairstyles and holidays.
Her videos are often cut up and reposted on TikTok, where select sound clips go viral.
Some of Peirce’s most well-known tirades include her take on beachy waves – “it’s not the vibe, stop!” – and her controversial views on Women’s Day – ““I think it’s stupid. I really do.”
Nevertheless, Peirce has amassed a legion of hardcore fans and haters who can’t help but watch her scream and shout her opinion on just about everything.
Peirce’s controversial videos (and views) have been compared to other un-cancellable influencers, like Trisha Paytas and Theo Von.
Who else could get away with yelling: “Shut up! Stop being fat! Stop being ugly!” at her viewers, who keep coming back for more?
It seems like no matter what she posts, or how many people disagree with her, viewers can’t help but leave her videos wanting more.
One TikTok user commented: “This woman is actually problematic but my brain is itched by the way she complains because it’s exactly how I think when I’m annoyed.”
Despite – or maybe because of – the controversies, Peirce has continued to grow her social media following.
Her Instagram account boasts 118,000 followers, despite several of her past accounts being banned or deleted.
Peirce’s X account is currently suspended, but that hasn’t stopped the internet icon from sharing her views online.
Her YouTube channel, which hosts over 600 videos, has 449,000 subscribers.
The hashtag #hrhcollection has also garnered nearly 1 billion views on TikTok, from reposted videos to sound bites.
Peirce has also garnered fame via interviews with BuzzFeed News and Interview Magazine, and appeared on podcasts like The Spillover With Alex Clark.
What is HRH Collection?
HRH Collection is a jewelry line created by Alexandra Peirce.
Besides rings, earrings, necklaces, and bracelets, the website also sells bag chains, keychains, ankle socks, t-shirts, and a windbreaker.
On the company’s about page, Peirce explains that the e-commerce site “started as a hobby and has now grown into a company that I’m so proud to call my own.”
Peirce first designed “a Japanese style frosting cupcake ring and key fob,” sharing the pieces on her YouTube channel.
Viewers were interested in purchasing the items, leading Peirce to create La Lumiere, mixing chain metals with assorted crystals to create bracelets and necklaces.
Peirce wore her jewelry to work and showcased her pieces on her social media, leading to steady stream of customers and orders.
From there, Peirce launched an Etsy shop, juggling her full time job alongside designing new pieces and fulfilling online orders.
Peirce states that she is “so thankful” for everyone who helped her along the way, but also offers some practical advice for anyone who hopes to turn their hobby into a viable career, saying she was “strategic” in developing HRH.
She writes: “Many of you guys ask me if you should quit your jobs to pursue YouTube or your other hobbies.”
“To be completely honest, I do not think you should quit your job for any hobby, until you have grown your company into one that can reasonably replace your job – this is very important.”
HRH collection features hundreds of items, with most priced between $50 and $150.
Shoppers can also select items from “Alex’s Musts,” which includes products like a $190 sterling silver tennis necklace, a trio of mixed metal rings for $87, and $59 diet soda hoops, resembling soda can tops.
Consumers looking for unique pieces are in luck, as there is a limited amount of inventory available per item, with many pieces already sold out.
2
Is Alexandra Peirce married?
Peirce came under fire from both her fans and haters after getting married on June 16, 2023, to her second husband, Jason Locke.
The influencer was mocked for her dress, venue, food, and overall wedding aesthetic.
She was also trolled on social media for live-streaming the event, charging users $25 to watch the party.
Peirce chose to wear a short, white, recycled Zara dress for the reception, while the groom chose to don a camouflaged Trump/Pence hat.
After a small ceremony at Bethania Lutheran Church, a reception was held in the parking lot of the Hitching Post, a BBQ joint in Buellton, California.
The eatery’s website says it is known for its wines and West Coast barbecue, and guests dined on veggies, garlic bread, and quesadillas, among other items.
Decorations were minimal, with few flowers adorning the white tent erected in the parking lot.
Each table did come with a cherry-scented ashtray candle, personalized with ‘Mr. & Mrs. Locke’ in a gothic font.
Peirce then changed into yoga pants before heading off to a local casino with her new beau and a few close friends, keeping the party going well into the morning hours.
Many users took to X to share their thoughts.
Some users called the wedding trashy, while others lamented the party’s seemingly low budget.
One user tweeted: “You had a trailer park wedding” along with a crying and skull emojis.
Another wrote: “how can hrh collection talk about anyone when her dress looks like it came out of a Zara clearance section?”
One influencer even branded the event as “the tackiest wedding ever.”
Peirce fought back, going after her online haters and critics in another one of her infamous video rants.
In a video titled Addressing The Devils, Peirce asks her viewers: “Do you think I didn’t know what my wedding was gonna be like? Like, I didn’t plan my wedding?”
“I don’t like big to-dos. I’m the least to-do person ever.”
She added: “B***h, I could fly to the f**king Maldives with every damn f**king person in my damn family and pay for everyone and not have it impact me at all, you f**king idiots.”
Peirce then stressed that her and Locke wanted to keep the wedding “casual and mellow.”
She said: “I did exactly what I wanted to do for my wedding and I would do it all exactly over again.”
Peirce ended the video by saying: “I’m happy, I’m in a really loving relationship. I basically have everything I want.”
“I have my own business, a beautiful house, I have a husband. I’m really happy right now and you guys are so vicious and mean.”
Then, in her signature fashion, she addressed her haters head-on, explaining: “I get it, because you’re miserable and ugly.”
“And you’re a loser, I understand. Life isn’t fair.”
SOCIAL
New Guide Highlights Key Considerations for Effective TikTok Ads
Looking to make TikTok a bigger focus of your marketing effort in 2024?
This will help. TikTok recently partnered with creator intelligence platform CreatorIQ to conduct an analysis of the key factors that make for a resonant TikTok promotion, culminating in a 26-page report which covers a range of key notes and tips for your planning.
You can download CreatorIQ’s full TikTok ads guide here, but in this post, we’ll look at some of the key notes.
The report is broken up into five key pillars of TikTok ads creation, which echo much of the best advice that’s been shared for the platform over time.
CreatorIQ’s five key TikTok marketing notes are:
- Grab attention from the start
- Foster a personal connection
- Show your product in action
- Use high-impact creative elements
- Close with a clear call to action
For each of these elements, the guide digs deeper into how to enact them, and the critical considerations of each, including stats on effectiveness:
Tips on TikTok-specific trends and tools:
As well as case study examples to underline each point:
It’s a handy overview, with a range of valuable notes, though the main finding, above all of the creative pointers and advice, is that established creators perform better for TikTok promotions.
As per CreatorIQ:
“The report found that creators overwhelmingly make the best-performing TikTok ads, with recommendations carrying more weight than traditional brand advertisements and celebrity spokespeople. In fact, after watching a creator-driven Spark Ad, 57% of TikTok community members say the creator is trustworthy, 56% say they can trust the brand because the creator shared it, and 71% say creator authenticity led them to buy a product.”
So while there are a heap of practical notes and pointers for increasing the resonance of your in-app promotions – like this:
The key point of emphasis is that creators make better TikToks, and thus, better ads, so partnering with relevant influencers in your niche is still likely a better way to go.
Some good considerations, and some valuable, data-backed tips, which could help to get your TikTok promotion plan on the right track in the new year.
You can download CreatorIQ’s full TikTok marketing report here.
SOCIAL
Adobe Highlights Rising Visual Trends in 2024 Creative Trends Report
Looking for creative inspiration for your 2024 strategic planning?
This will help. Today, Adobe has published its annual Creative Trends Report, which incorporates insights from Adobe’s 30 million+ Creative Cloud users, in order to determine rising visual styles of interest, which look set to resonate with audiences in the new year.
Based on its research, the Adobe team has established four creative trends that are worthy of note:
- Calming Rhythms – Fluid and flowing forms that soothe the senses and support emotional balance
- Wonder and Joy – Visuals that inspire a sense of awe, joy, and enchantment
- Dynamic Dimensions – Where all dimensions and types of content seamlessly merge
- The New Nostalgia – Contemporary interpretations of vintage styles
Adobe’s 22-page report, which you can download here (with email sign-up), provides more insight into each of these trends, along with various examples, and data that explains why they’re set to gain more momentum.
There are handy notes and insights for each, which help to illustrate how to use them in your process.
Interestingly, a lot of the images used by Adobe in the report look like they’ve been created by generative AI. I don’t know that they have, but it is worth noting the composition in this regard, as another potential means to tap into these trends.
The report provides some interesting perspective on rising visual trends, which could help in your planning. Maybe one of these resonates especially well with your branding, or aligns with what your target audience has been sharing.
Either way, some additional, data-backed considerations, which could be helpful in your process.
You can download Adobe’s “2024 Creative Trends Report” here.
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