“Fidelity is currently valuing X at about $9.4 billion”
I found this funny.
its worth comes from being able to influence world politics. Does he seem like someone who cares or needs money?
And may it continue to crash and burn. It’s just 4 chan at this point.
It’s like 4chan but it didn’t know where the line was for the amount of right wing people to be on a social media and ran a marathon
same as my GameStop shares
We knew this was going to happen before he made the purchase.
Everyone said, the best way for Elon to keep his money was to change very little, or even take a hands-off approach.
Masnick suggested this would happen
It was that and so much worse. Moral of the story: Running a huge social media service is hard. Maybe don’t assume that because you’re a billionaire you’re the best at doing stuff.
Masnick gives 20 levels of development. Elon stopped here:
Level Two: “We’re the free speech platform! But no CSAM!”
And that’s about it. Ex-Twitter has copyright infringement, hate speech and doesn’t give a fuck about local laws unless the law actually has teeth (Brasil, anybody?).
and then he fires trust and safety and it gets riddled and plagued with csam
Masnick’s post is well put, but also a disturbing reminder of how much power nation-states can exert over the Internet.
I mean, yeah we all knew he overpaid, but losing over 75%? I didn’t expect that.
Twitter wasn’t profitable right? So most of the “value” is in the name of the product. Elon changed the name and added his signature to everything the platform was doing, completely changing the platform Twitter is. So yeah, I do get why 75% of the money is gone now.
Changing the name of one of the most valuable brands isn’t something I’d expect even him to do.
Didn’t he pay too much for it in the first place?
Yea. He made a baseless offer before investigating. And the. Got called on it.
Posts about value are ads. Stop give exposure to this guy or his companies
I remember thinking twitter was bad before he took over
It’s now a complete shadow of what it was even just a couple of years ago. Just a quarter of its value seems generous
Musk did not buy this as an investment. He bought it to flip elections and manipulate public opinion.
Tesla is writing him a check that will cover the entire purchase price, and Saudi Arabia and Russia will pay the operating costs.
Active users are what matters; if they lost 75% of their users then I’m paying attention.
I think you’re giving the guy too much credit. Sometimes things are as they seen. He just didn’t like the moderation scheme on Twitter, made a gesture buying it, fumbled a little bit and overbid, then after having been forced to acquire it tried to turn it into something closer to what he wanted it to be.
If he’s trying to flip elections, he needs to at least pretend it’s being operated in good faith.
Correct me if I’m wrong but I’m pretty sure he gave an outlandish bid for Twitter to manipulate it’s stock prices when he pulled put, but he was sued into following through.
I don’t think he ever wanted to buy it, or at least he wanted to crash it’s value to come back and buy it on the cheap.
Given his unlimited resources, and the world’s worst people on speed dial, do you not think that the powers that be could have orchestrated that?
If he was that competent why would he resort to openly pumping and dumping meme coins in public just prior to this stunt.
He has some dangerous strings he can pull, but that doesn’t make him a good puppet master.
A quarter is cute and all but…
I dont get it. Why would 1/10 be cooler than 1/4 ?
because it’s even less
Musk is and always has been an incompetent yet lucky scammer.
Twitter will be bankrupt within two years.
!Remindme 2 Years
Ho wait it’s not working here
Still this much? Damn dude cooled off
Something tells me its value is not monetary for Musk.
I just checked and it’s worth nothing to anyone important.
How to become a billionaire: Start with 54 billion
I wish, I wish… I wish I was a fish.
I wish there was an instrument other than the stock market whereby private individuals could combine their funds to perform hostile take-overs, and then manage them by pre-agreed conditions.
Like: we’re going to buy Twitter, build an AP interface on it, federate it, and operate it like a non-profit. We’re going to have a set of these S core values, with yearly votes on changes proportional to investment. No single investor can own more than T percent of shares Investors can sell their shares, or buy shares. Stock will never spilt. Management salaries, combined, can never exceed more than M% of non-management combined salaries, and run it as a Holocracy. Or, maybe, shares can only be sold to employees, who have to sell to other employees when they leave.
You know; try to design a good operating model that avoids the pitfalls of other companies, and can adapt when the model demonstrates perverse incentives. Put more thought into it than my ramblings above.
But ten billion dollars is a lot of money to put together, and the rules I’d like to see necessarily exclude the sort of profit-only driven capitalists who’d be able to contribute heavy loads, and would limit the amount that could contribute.
I may as well wish I were a fish.
I like your idea. But you’ll have to settle for being a fish.
