brett taylor, the chair there and the board accepting a relatively small premium over today's trading price. brett taylor saying in the press release also, quote, the twitter board conducted a thoughtful and comprehensive process to assess elon's proposal with a deliberate focus on value, certainty and financing. the proposed transaction will deliver a substantial cash premium and we believe it is the best path forward for twitter's stockholders i think it is worth returning to that fact that twitter is reporting its earnings on thursday we saw in snap's earnings some of the structural challenges facing these ad-supported social platforms. snap has done a great job of navigating them, sara, but you have to wonder how negative those numbers and the outlook might be in those results thursday morning and why the company might have been rushing to get this news out before those earnings thursday. >> a lot of good context julia, thank you julia boorstin dan is still with us dan, i do wonder to mike and julia's point there if it says something about the sentiment toward social media stocks

brett taylor, who is on the board, is extremely well-connected in the technology community, knows everyonen tech. another individual on the board knows everyone in the private equity world, so they are both integral to the board. they have great cocaptains among others on the board. so i don't worry about that. the question is what does -- what is must going to do with the stock? he said he would dump it if you got a no and this is the final offer, but this is not an acceptable offer. they will not accept this. that is my view. we will see. guy: they might except $60. let's say he walks away and of the stock tanks on the back of it. does that open the door to somebody else? brent: it could. here is the challenge. who is going to come in that will get regulatory approval? none of the social media companies can. could microsoft come in? they are consuming activision and nuance. salesforce tried to buy this in the past and investors went irate at the ceo and backed off, so i don't think he can go back. so can durbin collectively find a group of investors to put something together as a collect

the paper also said musk told the twitter chairman brett taylor recently he will not adjust his $54.20ered when he made his bid on april 14. he called it his best and final. observers note the financing detail in the regulatory filing was a key step. musk famously got into hot water and lost a lot of credibility for tweeting he had secured funding in 2018 when he tried to take tesla private. note, twitter shares are trading a bit below musk's offer price, 10%. so there's some skepticism still about the success of a deal going forward. shery: su, we've learned a little more about how musk managed to get a dozen banks to back him. what do we know? su: we know he was very enthusiastic, no surprise. berg learned the financing came together during a couple days over the holiday weekend, and that there was a slideshow that musk had presented to several of the big lenders in a zoom call he was apparently on. bloomberg has also learned according to those close to the matter that mask's -- musk's plan for loading twitter -- we do know that musk shared some of his view on how he might run twitte

. >> 2016 period which was awful and it is over did brett taylor ceo spend time at twitter, mark was japan, in japan over the weekend. i think the stock reflects, could it be down 20 more points, i will buy it though this is a great company and we can't all focus on tomorrow because i made so much, i gave away $570,000 last year because i didn't focus on tomorrow. >> that's good advice. get rich carefully that's the book. that's the book. all right. from premarket bulletins to post earnings run downs, get exclusive insights from jim. follow every move he makes for the charitable trust be a member of the cnbc investing club it is invaluable go to cnbc.com, join the club. or point your cell phone camera at the qr code on the screen you'll get all of the kinds of things jim just talked about that he doesn't talk about on tv every day. >> exactly right >> stay with us. pete's latest unusual trades next u out. everybody be cool, alright? we've got bonnie right here on a video call. we don't take kindly to video calls. oh, in that case just tap to send a message. we don't take kindly to me

how about that do you like bennyoff and brett taylor and willing to go along for the ride because that is what we've done since $8 and got involved and like it please find companies that fit these characteristics. it works through the fed's aggressive tightening circle on "mad money," we mentions netflix and what it could mean for the future of the streaming service and all eyes are on inflation but where could it be headed i'm going off the charts to find out. and haliburton got pinned down and are there issues within the company. i'll given you my take so stay with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer, #madtweets send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire [sound of helicopter blades] matching your job descriptio

and i think when you look at the board, right you look at brett taylor ties to salesforce you know salesforce was interested in buying this. not saying do it other wealthy people could do it and durbin, top finance leader in our industry, and has a tremendous amount of contacts and could come up with another game plan as well. so i don't think this happens, and if it happens it's going to have to be on a higher level we'll see if he walks away, if he's serious about selling all of his stock again, i think this, to me, sounds like there's going to be a lot more debate going on for many weeks on this topic it's not done. >> why do you think it is something ins 60s would be more palatable to get a deal done, no matter the bidder, shares still trading at 46 today? >> ultimately we don't know, if someone comes that's what it's going to take but would put it, again, at a little -- 20 ebitda and six times forward rev number most tech deals done in 2022 start with one of the famous convenience stores, 7-eleven seven to eleven times revenue. way off the range. i agree. not returning revenue certainly

brett taylor said the board conducted a thoughtful process to assess the proposal, with the focus on value certainty and financing. he talked specifically about how much they are delivering that money that they will make off of this deal from elon musk. he calls it the best path forward for twitter. shareholders, now importantly what does elon musk have to say about this deal he proposed? talking about $46.5 billion. elon musk saying this -- free speech is the bedrock of a democracy, and twitter is the town square. as for what he will do, elon musk, he's not being share here in his initial statement as the almost owner of twitter, saying he wants to enhance twitter with new features. he wants to make the algorithm open sourced to what he says to increase trust. he wants to defeat spam bots, which are automated accounts that put out tweets across the platform inauthentically. and he wants to authenticate all humans, saying he thinks that twitter has tremendous potential. but this is a very controversial, polarizing owner of twitter. a lot of the individuals and critics we have been sp

last trading day before musk disclosed his 9% stake in the company there's a statement here from brett taylort board share. this is it he says, quote, the twitter board conducted a thoughtful and comprehensive process to assess elon's proposal with a deliberate focus on value, certainty and financing. the proposed transaction will deliver a substantial cash premium. we believe it is the best path forward for twitter's stockholders and the twitter ceo who is not very well known by the investment community, has not done an interview with us here on cnbc, he says, quote, twitter has a purpose and relevance that impacts the entire world, deeply proud of our teams, et cetera. and then i just want to mention what musk says in this press release. this goes back to why he wanted to buy twitter he said, quote, free speech is the bedrock of a functioning democracy and twitter is the digital town square where matters vital to the future of humanity are debated i want to make twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeatin

musk will be incredibly valuable a lot of heavy hitters, including independent board chairman brett taylorers. musk is an extremely heavy user. he knows what it's like. he understands the power of the medium better than anyone else in that sense he may be eyeing twitter the way jeff bezos eyed "the washington post" before he bought the whole thing make no mistake. even though musk is banned from taking more than a fiennes per stake of the company, those rules made to be broken. what is his ultimate intention so far it seems like a trojan horse. his plans are very well hidden he has tweeted about the possibility of editing your tweets so you have a chance to take something back without having to redo the whole thing he has polled users like us about free speech. maybe he wants to be able to verbally abuse his critics with imp impunity most importantly, musk has talent for controlling the narrative about both himself and his companies. in a sense, he is like former president trump, who is able to disinmediate the press by using twitter until he was banned for life it wouldn't surprise me if

he joins jack dorsey, salesforce co-ceo brett taylor. joining us, jeffrey sonnenfeld, and steve kovac. it's good to have you both here. jeff, i think the question of the day is, as a board member, he's one of 12, he is the most vocal. he is the most active on twitter. what kind of power does he have to make changes to the platform and to the company >> you know, he adds a lot to the party here of course, there are three big concerns the one you raised is the biggest one, but many people inside the company are worried about what the content character is going to be, and of course, there's an upside here on product quality. the first one, on governance, this is a spectacular board, a board that knows how to work with entrepreneurs a board where they may have hoped for more reinvention of the company. he'll bring that, but they have the financial heavies there, the ceo is very promising. he's pretty new on the job they have the best chief financial officer, one of the best in the industry, for sure with ned siegel. i think it's very encoura

good, happy with us on al jazeera, i was just reading that you must have written to brett taylor, that's the chair of twitch as saying the site was not fiving as a company or a tool for improving freedom of speech needs to be transformed as a private company, i suppose at heart, really this would be down to how long must defines free speech. that's right, and i'm not sure we should trust him. frankly. i think you on musk ought to stick to cars in the twitter board ought to reject this offer. this is about more than just investment money and markets. this is about the future of our democracy. this is about public health and safety, civil and human rights. and i don't think of you on must understand anything about that. there is a balancing of important interests that have to be done when it comes to content moderation. and we've seen ellen musk time and again spread vaccine disinformation use the platform to build his own wealth at the expense of others. and i'm call on his troll army to attack and harass people who disagree with him. this is not the future briggs free expression that i w

the paper also said musk told twitter chairman brett taylor he will not adjust his $54.20 a sh are offerloomberg reported last thursday when this regulatory filing was first disclosed that musk appeared to raise a bit more than the actual bid, so there is a little wiggle room. but observers also note the regulatory filing was key, because in 2018, musk famously tweeted that funding was secured to take tesla private in 2018. turned out he did not have the financing. that seriously hurt his credibility. so now the fact he has been able to show this financing and these banks were backing him, it really gives credibility to the offer. twitter by the way trading about 10% below the offer peice -- price musk came up with. that indicates many on wall street perhaps are still skeptical about whether a deal actually goes through. paul: su, we've also learned more about elon musk managing to get a dozen banks to back and very quickly. what sort of argument did he put together? su: the deal them together in apparently three days over the easter passover holiday. that is a lot of money to put togeth

. >> brett taylor who's the co-ceo of salesforce, he's a process guy, and also a nice person. i don't mean that in a negative way. a process guy who's probably open to elon musk. ned seigle is doing a terrific job as ceo, but at the same time, where is the money being made on twitter, where are the margins, we just go down, down, down. >> and user growth they haven't managed to get that up hereto. >> they have not been able capitalize on commerce i think a musk -- won't matter musk is not going to get to 70 he's going to have a terminal value. i think they really, if you're talking about liability as a board member you want to be liable for that stock going back to 30, and i think the answer is i'll take 52 over 30. that will take 52 over some day being 70, he dumps the stock the moment he doesn't get it. >> and the market has pushed them in that direction as well twitter has gone up every day in friday's awful selloff thursday's nasdaq. >> man has a plan, right man has a plan. >> look, i think twitter, if you read his feed, he's like the way it was supposed to be. it's fun, i

people who can do that you've got people who understand the business side of things, whether it's brett taylor who's obviously the co-ceo of salesforce and the company's independent chairman you know, and on from there, former senior member at google. >> these are heavy weights >> at twitter, not to mention david rosenblatt i mean, they've got -- and was a double click they have got a very deep board. so it will be interesting to see how he fits in, whether leads the discussion whether he simply is able as the largest shareholder to push for things that otherwise might not be the case amongst other board members because he does have the economic interest that none of them come close to, including of course cofounder jack dorsey who was also on the board of directors but owns roughly 2.5% of the stock right now >> you look at some of these things that carl -- you got pra nay pat hole, ylelon, you've got to do something about these crypto spam bots the single most annoying problem on twitter that to me is not necessarily what he -- i mean, is that really his single most important issue crypto sp

you have brett taylor who's the chairman of the board of twitter, he's also the co-ceo of salesforce,ying twitter in the past. so they're a very interesting character. jack dorsey also hinted at the back stabbing that's been taking place and a disfunction of the company amongst its founders and the board from the beginning. stuart: it's badly managed, badly run and badly in need of a complete takeover by someone who appreciates free speech. susan: but it also brings up high drama and all this backroom dealing. i just find it fascinating -- stuart: you love it. susan: it'll be a tv series or movie one day, i think. stuart: tomorrow is april the 20th, what's the betting there'll be some kind of news tomorrow? susan: i think the expectation is that twitter's going to say no to this musk bid of $54.20. do we get something renewed? i think that's what we're hoping for, an upped offer, this week. elon musk has said he'll take his ball,s his cash and just walk away, continue to say no -- stuart: if he did that, the stock dose down the tube. susan: i think it goes down. definitely, yes. and t

i am curious to know if the ceo of salesforce would, brett taylor, who is chairman here, would want toounteroffers we don't know, you know. you had some really, i think, provocative issues about the five different constituencies you talked about earlier i might extend it, adding in what the users are expecting out of all of this how would he change the product? of course, other partners. how is he going to pay with that with financial model, scrap advertising. it's hard to know. the skepticism over what he is really up to, as robert frank, so artfully took a look how he could afford to pay for it, but selling 4% of his tesla would crash that stock and violate all that he said so there is a lot up in the air. he teseems to -- i likes the splash and he is volatile. he could move on quickly i, myself, have bought into this stock and i'm nervous about it i wouldn't hold it long. >> yeah. you know, jeff, you mentioned all the different constituencies look, we've run through why this initial offer formany differen reasons, the amount and other things, and it's not really a start of a negotia

what he is poised to make when the deal closes, twitter's ceo also along with the board chair brett taylorr could also be part of this massive payday. what are your thoughts on this payday, suddenly they're really in favor of this deal after that increase from elon musk. >> yeah, it's funny how that works, isn't it? yeah, i mean, that's all part of how the system works too. these guys are going to make a lot of money but hopefully every user of twitter is going to get a better experience and every user of even other social media platforms is going to benefit from the pressure that twitter's putting on. if elon can figure out how to make it a better experience and fix some of the problems we talk about, that's good for everyone. i mean, not as good as the paydays we're talking about with those guys but it's still in a t benefit to everyone who uses social media. maria: everyone knows this program has been very critical of the chinese communist party's behavior and we have really zeroed in on the ccp being a massive adversary to america. but the tweet from jeff bezos is somewhat rich. the fo

brett taylor, the chairman is doing a great job, but i don't know what the rest of the board is doingunpackable in twitter. if you think about twitter it's about what information you're interested in and what you'd like to follow and get really invested in. if you can separate that from that ad business problem they have, i think that's a huge opportunity. and frankly i'm very excited to see what happens here. >> single best piece of advice for entrepreneurs watching this morning. >> i've got three of them. the first one is time is your most precious asset. there's a lot coming at you whether 1, 5, 5 240u7b people as we have now at octa. number two is keep the main thing the main thing there's a lot of people going to talk to you about a lot of different projects you're the one that has to decide what you want to focus on and make it a priority but the ceos of today's startups are all technologists and they don't know a lot about sales and they need to get out and talk about potential customers and how they might use their product. >>> coming up, the debate over returning full time to