The writer is founder of Sifted, an FT-backed media company covering European start-ups
People said that Donald Trump should be taken seriously, but not literally. Elon Musk now appears to be copying the former US president’s playbook. When in April the world’s richest man offered to buy Twitter for $44bn, it seems he meant it seriously, but not literally. Last week, Musk said he was pulling out of the deal, accusing the social media company of providing “false and misleading” information.
Unfortunately for Musk, the US legal system is in the business of taking things literally. On Tuesday, Twitter’s board sued Musk to force him to honour his legally binding agreement to buy the company. Twitter asked the Delaware Court of Chancery to fast-track a trial for September. “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,” Twitter fumed.