Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Twitter Inc (TWTR) Not so Mismanaged or Stoned on Pot After All: Thiel

Twitter Inc (NYSE:TWTR) has been granted a reprieve and all charges dropped for the alleged crimes of mismanagement and too much pot smoking that had been levied against them by billionaire investor and Paypal co-founder Peter Thiel. In an interview with Business Insider today, Thiel took a step back from his comments, which were made during a CNBC interview last week (embedded below), claiming they were taken out of context.

twitter twtr facebook fb

“Twitter is hard to evaluate. They have a lot of potential. It’s a horribly mismanaged company. The people, you know, probably a lot of pot-smoking going on there. But it’s such a solid franchise that maybe it works even with all that,” Thiel said during the CNBC interview, comments which elicited sniggers from the CNBC crew.

While not totally backing down from the sentiment that Twitter Inc (NYSE:TWTR)’s management is not doing a very good job, he did say that his comments were taken way out of context, and that they were meant more as an endorsement of Twitter Inc (NYSE:TWTR)’s business model than as an attack on the way the company is run or the people running it.

Thiel is ultimately pulling a bit of fancy footwork, as it’s hard to see how the comments could really be taken in any other way but the one in which they were said. He would’ve been better off admitting that his comments didn’t come out the way he intended, rather than blaming everyone else for misinterpreting what was fairly clearly said.

Regardless, he declared in the newest interview that Twitter Inc (NYSE:TWTR) does indeed have a fantastic business model, one so strong that it could probably withstand the ravages of mismanagement and pot smoking anyway. Thiel, an early backer in Facebook Inc (NASDAQ:FB), is notorious for his support of The Seasteading Institute, which dreams of building a utopian paradise on platforms in the ocean (I won’t make any reference to pot here, honest…oops).

Twitter Inc (NYSE:TWTR) closed today at $52.17, up 31.98% over the past three months, but down 18.05% year-to-date.

Warren Buffett and BillionairesFree Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks

Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
This is a FREE report from Insider Monkey. Credit Card is NOT required.