A year after he bought Twitter for $44 billion, Musk thinks the company is now worth $19 billion, a 55 percent drop.

Let’s recap what he did to Twitter, I will go first:

  • Changed the original name Twitter to X.
  • Nobody@lemmy.world
    link
    fedilink
    English
    arrow-up
    46
    arrow-down
    5
    ·
    8 months ago

    It was never about the money. Musk is turning a once-valuable information space into a fascist shithole. That was always the goal.

    • MostlyHarmless@sh.itjust.works
      link
      fedilink
      arrow-up
      33
      arrow-down
      1
      ·
      8 months ago

      Yeah, I don’t believe that. Turning it into a fascist shit hole might have been a goal, but losing billions doing it isn’t.

      He’s an arrogant fuck who wants everyone to believe he’s a genius. Blowing that much money makes him look like a moron.

      • lingh0e@sh.itjust.works
        link
        fedilink
        arrow-up
        6
        arrow-down
        5
        ·
        8 months ago

        He is rich enough that it literally doesn’t matter. This was “expensive” for him on paper, but hardly life changing.

        • xts@lemmy.world
          link
          fedilink
          English
          arrow-up
          15
          ·
          edit-2
          8 months ago

          Yeah it’s definitely life changing. The public sentiment over the last couple of years has gone from

          “wow Elon musk is a genius who will electrify the world and get us to mars”

          to

          “Wow Elon Musk is a massive moron who clearly isn’t anywhere near as smart as he thinks he is”

          and the more he spreads right wing conspiracy shit the worse it’s getting for him.

          Let’s not even talk about the public image but the private one now- he borrowed something like $20b? from several banks to make the deal who are now saddled with the debt. They have also been discussing (publicly) selling it at a loss because they’re done with Elon. Other banks will not lend him money, ESPECIALLY with interest rates being what they are and what he’s done this last year. The time of free money (which is how he built all of his companies) and unlimited government subsidies is done and that’s the only way he’s been successful- when there’s virtually no risk.

          He cannot pay his interest payments because he’s only rich on paper. He’s likely cash poor and hasn’t even been paying normal Twitter bills let alone interest payments for his $20b loan, which IIRC gains like a billion in interest every year. Dude dug himself into a hole with no way out

            • xts@lemmy.world
              link
              fedilink
              English
              arrow-up
              3
              ·
              8 months ago

              lol that would never happen, the GOP would NEVER allow anyone but natural born citizens to serve

      • ScreaminOctopus@sh.itjust.works
        link
        fedilink
        English
        arrow-up
        1
        arrow-down
        1
        ·
        8 months ago

        Even people I know who use Twitter a lot don’t think this, I’d hate to meet someone with this level of Twitter brain.

    • GladiusB@lemmy.world
      link
      fedilink
      arrow-up
      6
      arrow-down
      3
      ·
      8 months ago

      Once valuable? Fuck that. Twitter has always been and always will be Jerry Springer for the Internet. It’s fun to watch some toothless hooker throw a shoe at a priest until Grandma finds out you are on their as 4chan gaslighting the priest and the hooker.

      The value is pure entertainment. Anyone that takes it more seriously has not seen it for what it is.

      • jaybone@lemmy.world
        link
        fedilink
        arrow-up
        4
        arrow-down
        1
        ·
        8 months ago

        This is why it bothers me that so many government agencies and officials use it to communicate with the public.

        It’s almost as if there should be an official government service / platform specifically for that purpose. A state run Twitter. (Maybe they could use mastodon under the hood.)

        • kadu@lemmy.world
          link
          fedilink
          arrow-up
          4
          ·
          8 months ago

          If I recall correctly, some EU government bodies are doing just that! They host their own Mastodon instance.