Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors

every morning. Good morning. Today is Tuesday, December 2nd, and I'm your host, Kim Kahn, filling in

for Julie Morgan. Warner Brothers Discovery received a mostly cash offer from Netflix in the second

round of buyout bidding.

Shares of Warner are higher pre-market.

Bloomberg says Netflix, Paramount Skydance, and Comcast worked over the Thanksgiving weekend

to provide improved offers for all or parts of Warner Brothers.

Netflix is working on a bridge loan that totals tens of billions of dollars.

Comcast and Netflix are only interested in the Warner Brothers Studio and HBO Max streaming service.

Michael Burry says Tesla's market cap is ridiculously overvalued.

The big short investor writes in his substack that CEO Elon Musk's record $1 trillion pay package

will worsen shareholder dilution.

Barry estimated that Tesla dilutes its shareholders at around 3.6% per year as a result of

stock-based compensation, with no buybacks to offset the impact.

Tesla's market cap is currently $1.35 trillion.

Bury added, as an aside, the Elon cult was all in on electric cars until competition showed up,

then all in on autonomous driving until competition showed up,

and now it's all in on robots until competition shows up.

And Amazon is pushing fast free delivery into overdrive,

with a new ultra-fast service that can deliver merchandise and groceries in less than 30 minutes.

The information says Amazon has been polling large to package goods merchandisers for items

that could be sold through its new service. To expedite delivery, the company is also seeking

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