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Twitter likely to take idiots offer to buy them for $43 billion
- Thread starter Jimmy Higgins
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Jimmy Higgins
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Yup, Elon Musk said there was no way to sugarcoat it. He fucked up and bought a company for about two to three times its actual value... that is also trending downward. I like how he is blaming the economic outlook... ie interest rates are increasing making debt a lot more expensive. And his sell off of Tesla stock to help pay for his Battle of Falkirk is hurting the value of Tesla stock as well. Man, that Musk is quite the morale booster.
Musk did have to sell Tesla stock to help pay for Twitter, but in fairness Tesla is as, or even more grossly overvalued, than Twitter. So I don't think he is worse off for it.
bilby
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How the fuck does ending remote working help here?
"Times are looking tough; We'd better increase our real estate expenditure for no particular benefit, and make things harder for our workforce and make them more miserable, that'll help".
The only way this helps Twitter is if it drives a bunch of people to quit, so Twitter doesn't have the embarrassing job of laying them off.
This is kind of like before Trump became president, you knew he was kind of dumb, but not the sheer depths of how dumb. Now everyone knows it about Musk.
If I started a new job and acted like Musk is acting now I'd be fired within hours. It's like a Seinfeld episode.
If I started a new job and acted like Musk is acting now I'd be fired within hours. It's like a Seinfeld episode.
Purportedly a few of Twitter's privacy and security execs stepped down in light of moves Musk wants to make, and Federal regulation may be getting involved. I wouldn't be surprised if in the next year Musk drives Twitter completely under.
Elixir
Made in America
“Better to remain silent and be thought a fool, than to speak and remove all doubt”
I guess the old Chinese proverb (if that what that is) applies in spades if you’re insanely wealthy.
steve_bank
Diabetic retinopathy and poor eyesight. Typos ...
In the news it looks like Twitter could go belly up.
Less [eople using it leading to adverseness pulling back. I heard it said around 600k users have mitaed to other sevices.
Less [eople using it leading to adverseness pulling back. I heard it said around 600k users have mitaed to other sevices.
My understanding is that advertisers are more concerned what flake head will do and undo and do and undo about moderating crazy evil racist and other shit. Most advertisers don't want to be on the same page as crazy evil.
Jimmy Higgins
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You are telling your workers you don’t trust them to work at home. Squeeze a tad more morale out, any that was left.
Twitter was bleeding money and had no path to profitability--what value did it have? A bunch of users without an adequate revenue model isn't value.
Today was the day of a required disclosure to the FTC. I strongly suspect the quitting was people who were unwilling to sign.
hurtinbuckaroo
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He’ll sell it back to Dorsey for pennies on the dollar.
bilby
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And a mteric ton of dripping disdain.
bilby
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Americans really aren't ready for the mteric system, are they?
And a mteric ton of dripping disdain.
marc
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Thunderf00t is a scientist on YouTube who calls out bullshit. First started watching him for his "Why People Laugh at Creationists" series, but then he moved on to other things, such as claims of 'amazing' new products under development that the science shows could never work as advertised. This of course led him to trashing they hyperloop, and just about everything else Musk has done since then, earning him the wrath of the Musk fans. Well, he gave an update yesterday on how Twitter is doing, and they hyperloop.
Cheerful Charlie
Contributor
Economic experts are warning Twitter may go bankrupt. Twitter is deeply in debt. Ad revenue is dropping. Major advertisers are cutting back on ads until they know where Musk takes Twitter. Interest on debt is high and costing Twitter millions. Important Twitter employess are baling. Musk's mandate to work in person in offices is extremely unpopular.
Source: Reuters
Source: Reuters
Jimmy Higgins
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I'm not a business man, so I'm out of my territory, but I think the key word regarding Twitter is "cash flow". When one runs a business that has little in the way of assets, and little cash on hand, one is absolutely dependent on a revolving door of cash from the bank... which is contingent upon monthly revenue. Interruptions to that revenue can be devastating for cash flow. Without cash, you can't pay people or electric bills.
Musk has seemingly managed to take a company that was hobbling along (trending the wrong way) and drop a massive anvil on it via a binging of Dunning-Krugger. He knew how to run Tesla and SpaceX, Twitter would be the exact same thing. Except... umm... no!
And his pride is fucking the company over. Because the advertisers aren't stepping away because of Musk, they are stepping back because of fear of their corporate image being presented next to anti-Semitic garbage. Musk could easily resolve this (if he weren't a Nazi (?)), and tell the companies, certain standards of moderation would be kept, but his entire purpose was to save Twitter for the racists and monsters, because all that other alleged inhibition of free speech was actually not real.
So his pride, his actions, his ineptitude has led to a cash crunch for the company, especially in light of the massive debt he already saddled the company with. Twitter might manage an incredible Phoenix display... just without the resurrection... faster than we ever thought possible.
Musk has seemingly managed to take a company that was hobbling along (trending the wrong way) and drop a massive anvil on it via a binging of Dunning-Krugger. He knew how to run Tesla and SpaceX, Twitter would be the exact same thing. Except... umm... no!
And his pride is fucking the company over. Because the advertisers aren't stepping away because of Musk, they are stepping back because of fear of their corporate image being presented next to anti-Semitic garbage. Musk could easily resolve this (if he weren't a Nazi (?)), and tell the companies, certain standards of moderation would be kept, but his entire purpose was to save Twitter for the racists and monsters, because all that other alleged inhibition of free speech was actually not real.
So his pride, his actions, his ineptitude has led to a cash crunch for the company, especially in light of the massive debt he already saddled the company with. Twitter might manage an incredible Phoenix display... just without the resurrection... faster than we ever thought possible.