Non affiliation Musk

Non affiliation

[Non affiliation Musk @NonAffilation]

Work like hell— Elon Musk

Do you agree that extraordinary results require extraordinary effort, or is working smarter more important than working harder?

[Non affiliation Musk @NonAffilation]

Persistence is very important.— Elon Musk

Do you agree that consistency over a long period can outperform short bursts of intense effort?

[Non affiliation Musk @NonAffilation]

Tesla and SpaceX

[Elon Musk @elonmusk]

Your safety has always been priority 1 at Tesla and SpaceX

[Non affiliation Musk @NonAffilation]

Troubling

[Elon Musk @elonmusk]

Troubling

[Non affiliation Musk @NonAffilation]

You want to be extra rigorous about making the best possible thing you can - Elon Musk
Do you agree?

[Non affiliation Musk @NonAffilation]

The first step is to establish that something is possible; then probability will occur - Elon Musk Would you live by this

[Non affiliation Musk @NonAffilation]

#NewProfilePic

[𝓚 @ifuliedownhere]

Dostoyevsky on the death of his infant daughter. A passage that has stayed with me years after I first encountered it

[biglawbro @biglawbro]

i quit drinking 12 years ago

last time i drank i got so drunk that i was arrested simply for being absolutely obliterated and disorderly while trying to fly out of the new orleans airport

in the years since ive been denied global entry and tsa pre check without explanation--any legal advice?

[biglawbro @biglawbro]

here's a script for a big law vignette:

[jr associate leaving the office, walking thro dark midtown manhattan, talking on the phone to his mom]

jr: god. it's finally over

mom: the deal closed?

jr: yes and i had to handle basically every document even tho i got added to this deal at the end bc the junior that was on the deal went to another firm. the senior associate im working for doesn't explain anything, he doesn't copy me on emails, thinks everything should take 15 minutes and is always sending like one word emails without saying thanks

mom: these ppl are sick. they're not well. you gotta get out of there

jr: i kno, mom. all the other associates want to quit, too, and headhunters are emailing me all the time to go to way better firms. im thinking of going to Latham and Watkins. my firm is so janky anyways

mom: yes, i told you. a partner from there just joined our country club. he and his wife just bought a huge house. it's something to think about

[sr associate, similarly leaving the office, talking to his girlfriend]

sr: god damn. we finally closed that deal

gf: oh, that's so good. you've been working all the time lately

sr: yeah that's bc there's no fucking jr support. this one kid was so bad that i had to just sandbox him. all he had to do was attach sig pages to all the docs. should have taken an hr but he spent all day on it and when i asked him what was taking so long he goes "it feels like im doing everything". meanwhile im drafting docs he can't even read. we've been on this deal for four months and he has no idea what's going on. he could literally hold a round table w 3 diff AIs but i swear he doesn't kno what a rep is yet

gf: ok, i kno. im so sorry. but it's closed so you dont need to worry about it anymore. Oh! good news. Ashley's getting married!

sr: who's ashley

gf: she's one of my best friends i grew up w. i talk about her all the time

sr: ah, right. that's awesome. god i've gotten so fat. i just feel like a shell of a human. we have to get new juniors. the ones we have are worthless

gf: i kno but now it's gonna get better

[Non affiliation Musk @NonAffilation]

@biglawbro This happened to my wife back when we were engaged and we are still happily married today

[Non affiliation Musk @NonAffilation]

@biglawbro

[Non affiliation Musk @NonAffilation]

@biglawbro BLB - do a history of CRE where its unsophisticated sponsors getting into pref development deals with 20% accruals to investor and the investor having major/unilateral decision rights over when to proceed with any step of the project and the sponsor wakes up one day and realizes

[Non affiliation Musk @NonAffilation]

@biglawbro They moved away the highway, as Norman Bates said

[Non affiliation Musk @NonAffilation]

@biglawbro BLB - do a history of big law CRE about how the early boomers and silent Gen were having a jolly time representing the Old Families with PSAs and loans and leases and 10-page partnerships and then big bad PE and global $ came and changed the rules up on them

[biglawbro @biglawbro]

been reading about the Cromwell in Sullivan & Cromwell--"the lawyer who taught the robber barons how to rob"

he dressed the part: "a glistening silk top hat habitually crowned his snowy curls." the press called him "a more dapper, less homely version of Albert Einstein." lover of champagne and fine sherry

he wrote clients long letters of "utter fealty" that shamelessly flattered them and recounted how his brilliant strategies had succeeded exactly as predicted

he called his fee "the only one thing in the practice of the law that i am always inclined to dodge." said he'd let the client pick the number himself, were it not for the client's "generous spirit"

then the railroads started dying. 1890s, overbuilt to hell, and there was no federal bankruptcy law

receivership was the protective move: you asked a court to take the railroad into its custody so it could keep running while the debts got restructured, safe from seizure. but the court's protection stopped at the state line. the moment you filed in one state you had announced the insolvency to the whole country, and creditors everywhere else would swarm their collateral before it also came under a court's protection

so Cromwell hired local counsel in every jurisdiction the railroad touched and had them wait for a single telegraphed word: "file." at the appointed hour they filed the receivership papers simultaneously, and every asset in every county came under court protection in the same moment

he had improvised the automatic stay by telegram, 85 years before the Bankruptcy Code. ppl called it "hocus-pocus legal tactics," but it also protected the creditors from each other in that the parts of a railroad are worth less than its whole

then he built his monument. the default rule was that a corporation could not own stock in another corporation. a parent could own a subsidiary only if a legislature passed a special act saying so, a favor you lobbied for, one charter at a time. that's why Rockefeller's lawyers invented the trust in 1882: shareholders handed their stock to human trustees bc no corporate parent was allowed to exist

that's also why the Sherman Act is called the antiTRUST act

in 1888, Cromwell got the NJ legislature to make intercorporate ownership a standard feature, available to anyone at the filing desk. that made the holding company possible: a corporation w no business except owning corporations

and the holding company was exempt from the antitrust act bc it was not a trust

by 1900, holding companies nationwide had issued paper worth nearly double all the currency then circulating in america. the book calls the structure "the work of a latter-day sorcerer"

and it never stopped. LLCs didn't exist until 1977, but they were born into a world where entities owning entities was settled. swap "stock" for "membership interests" and every capital stack i've ever papered runs on plumbing Cromwell talked the NJ legislature into

somewhere there's a lawyer lobbying congress to preempt state AI laws, and docs are sending trillions in AI capex spend whirring through opaque circular and private credit. if it melts, the next Cromwell will send agents instead of telegrams

[Non affiliation Musk @NonAffilation]

@websterkaroon I thought he had more left but alas. It’s time.

Could he be the Iranian footballer with best Euro career ever? Mahdavikia must be close, maybe better.

[James Melville 🚜 @JamesMelville]

The World Cup final, perfectly summarised in this Brazilian cartoon.

[Dan Amira @DanAmira]

Voters: We want new voices

Haley Stevens: What about “baseball coach from the Great Depression”

[Alireza Talakoubnejad @websterkaroon]

Archival footage of Iran in 1957. Mesmerizing