Do you have 5 minutes to connect on possible meeting tomorrow I believe you will want to take ?

Will call in about half an hour

Sam Bankman Fried is why I'm calling https://twitter.com/sbf_ftx/status/1514588820641128452 https://www.vox.com/platform/amp/recode/2021/3/20/22335209/sam-bankman-fried-joe biden - ftx - cryptocurrency - effective - altruism https://ftx.us

??

I'm backlogged with a mountain of critical work matters . Is this urgent ?

Wants 1-5b . Serious about partner w / you . Same security you own

Not urgent unless you want him to fly tomorrow . He has a window tomorrow then he's wed Friday booked

Could do 5bn if everything vision lock . Would do the engineering for social media blockchain integration . Founded FTX crypto exchange . Believes in your mission . Major Democratic donor . So thought it was potentially worth an hour tomorrow a la the Orlando meeting and Can talk when you he said he could shake hands on 5 if you like him and I think you will . have more time not urgent but if tomorrow works it could get us 5bn equity in an hour

Blockchain twitter isn't possible , as the bandwidth and latency requirements cannot be supported by a peer to peer network , unless those " peers " are absolutely gigantic , thus defeating the purpose of a decentralized network .

Disliked " Could do 5bn if everything vision lock . Would do the engineering for social media blockchain integration . Founded FTX crypto exchange . Believes in your mission . Major Democratic donor . So thought it was potentially worth an hour tomorrow a la the Orlando meeting and he said he could shake hands on 5 if you like him and I think you will . Can talk when you have more time not urgent but if tomorrow works it could get us 5bn equity in an hour "

So long as I don't have to have a laborious blockchain debate

Strange that Orlando declined

Please let him know that I would like to talk and understand why he declined

Does Sam actually have $ 3B liquid ?

I think Sam has it yes . He actually said up to 10 at one point but in writing he said up to 5 . He's into you . And he specifically said the blockchain piece is only if you liked it and not gonna push it . Orlando referred Sams interest to us and will be texting you to speak to say why he ( Orlando ) declined . We agree orlando needs to call you and explain given everything he said to us and you . Will make that happen We can push Sam to next week but I do believe you will like him . Ultra Genius and doer builder like your formula . Built FTX from scratch after MIT physics . Second to Bloomberg in donations to Biden campaign .

Michael Grimes here so you have my number and know who is calling . Dialing you now

Liked " Michael Grimes here so you have my number and know who is calling . Dialing you now Self

https://youtu.be/DOW1VOKOELA

Laughed at " https://youtu.be/DOW1vOKOELA "

If you have a second to chat

Perfect .

got it . Will forward the equity interest email to Jared and Alex that he sent in and have it in the queue in the event his interest is needed overall . Absent the blockchain piece he's focused on investing if you want his interest in Twitter and your mission but we can park him for now .

Agree . Was one piece of equation and I do think he would be at least 3bn if you like him and want him , maybe more . Will work with Jared and Alex to be sure it makes sense to meet - my instinct is it does because Orlando Braco also declined today in the end ( not sure if political fears or what but he flaked today ) .

No response from Bret , not even an interest in talking . I think it's probably best to release the debt tomorrow . This might take a while .

Nikesh came to see me this afternoon . Just to talk Twitter and you . If you had the time he would cancel his plans tomorrow night to meet with you and come to where you are in SF or mid peninsula Or he could fly to Austin another time of course . If you want me to send him to you after the Twitter meeting let me know and he will break his plans to do

It's fine , no need to break his plans .

Got it .

asked Pat and Kristina to each spend the weekend writing up their transition and diligence plan and how to approach debt rating agencies on may 16. We need one of them signed up ( employment contract for 3 months ) as Transition CFO of X Holdings and owning the model and diligence from financial point of view on the follow up meetings with Twitter on costs and users and engineers etc. We believe two will not work at the agencies or in front of debt investors as you have to have one CFO . If you were willing to have SVP Ops of X Holdings ( Pat would be more qualified for that than Kristina ) then it's possible to retain them both for the transition . The way to stay on ludicrous speed is to pick one of them tomorrow as transition CFO and then we run with it full metal jacket . I believe each can do the job and deliver the ratings and debt and transition plan for day one . Then you dismiss him / her as job well done or offer permanent CFO if you choose . You get the speed and certainty we need now but not locked into anything for future .

Neither were great

They asked no good questions and had no good comments

Let's slow down just a few days

Putin's speech tomorrow is extremely important

It won't make sense to buy Twitter if we're headed into WW3

Just sayin

Understood . If the pace stays rapid each are good enough to get job done for the debt . Then you hire great for go forward . But will pause for May 9 Vladimir and hope for the best there . We can take stock of where things look after that

Liked " Understood . If the pace stays rapid each are good enough to get job done for the debt . Then you hire great for go forward . But will pause for May 9 Vladimir and hope for the best there . We can take stock of where things look after that "

An extremely fundamental due diligence item is understanding exactly how Twitter confirms that 95 % of their daily active users are both real people and not double - counted .

They couldn't answer that on Friday , which is insane .

If that number is more like 50 % or lower , which is what I would guess based on my feed , then they have been fundamentally misrepresenting the value of Twitter to advertisers and investors .

To be super clear , this deal moves forward if it passes due diligence , but obviously not if there are massive gaping issues .

True user account is a showstopper if actually much lower than the 95 % claimed

Parag said that Twitter has 2500 coders doing at least 100 lines per month . Maybe they could fit this feature in ... https://twitter.com/skylerrainnj/status/1523616659365277698?s=10&t=1qmVNhjQPeHafBPEHiFrR