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Twitter likely to take idiots offer to buy them for $43 billion

SLD said:
TomC said:
SLD said:
Can I bet in Vegas on how long before it is defunct?
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You would need a clear meaning for "defunct" it seems to me to bet. Last I knew MySpace was still a thing.
Tom
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Chapter 7.
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You realize that businesses sometimes don't even chapter 7? There was no bankruptcy proceeding for my former employer. Companies with secured assets simply seized the items in question, no other creditor felt there was enough value in forcing a chapter 7 proceeding.
 
Loren Pechtel said:
SLD said:
TomC said:
SLD said:
Can I bet in Vegas on how long before it is defunct?
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You would need a clear meaning for "defunct" it seems to me to bet. Last I knew MySpace was still a thing.
Tom
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Chapter 7.
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You realize that businesses sometimes don't even chapter 7? There was no bankruptcy proceeding for my former employer. Companies with secured assets simply seized the items in question, no other creditor felt there was enough value in forcing a chapter 7 proceeding.
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True. They sometimes liquidate through chapter 11
 
Loren Pechtel said:
SLD said:
TomC said:
SLD said:
Can I bet in Vegas on how long before it is defunct?
Click to expand...
You would need a clear meaning for "defunct" it seems to me to bet. Last I knew MySpace was still a thing.
Tom
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Chapter 7.
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You realize that businesses sometimes don't even chapter 7? There was no bankruptcy proceeding for my former employer. Companies with secured assets simply seized the items in question, no other creditor felt there was enough value in forcing a chapter 7 proceeding.
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I doubt Twitter has any physical assets worth selling at this point. What they do have is a couple gazillionbytes of data on every Twitter user. Whether that is of any value is a good question.
 
SLD said:
Loren Pechtel said:
SLD said:
TomC said:
SLD said:
Can I bet in Vegas on how long before it is defunct?
Click to expand...
You would need a clear meaning for "defunct" it seems to me to bet. Last I knew MySpace was still a thing.
Tom
Click to expand...
Chapter 7.
Click to expand...
You realize that businesses sometimes don't even chapter 7? There was no bankruptcy proceeding for my former employer. Companies with secured assets simply seized the items in question, no other creditor felt there was enough value in forcing a chapter 7 proceeding.
Click to expand...
True. They sometimes liquidate through chapter 11
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I'm saying sometimes they simply close their doors, no bankruptcy proceedings. A creditor can force matters--but will only do so if they think they'll get more than it will cost them.
 
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Reactions: SLD
Apparently this isn't breaking news, but Musk is suing the law firm that helped defeat him and made him go through with the deal to buy Twitter as he agreed.

At question, is whether the $90 million payment Twitter made at the last second to the firm was above board. The $90 million was a success fee that they billed Twitter somewhat after the fact. Twitter didn't question the fee and paid it very very late, right before the company went to Musk with a sink, likely due to Musk no longer being able to balk anymore in litigation. One of the funny aspects of the lawsuit is that Musk says their work wasn't that hard because the case they had was pretty straight forward (ie I'm an idiot and didn't have a chance in the Delaware court).

I think the problem Musk has is that he had no authority over a company he didn't own yet and Twitter was the one with standing to question the Success Fee. They probably could have easily challenged the fee as the agreement with the firm said nothing about a Success Fee. However, they didn't, so that could be that. Musk is desperate and probably doesn't like looking like a hoser... but when one goes about hosing...
 
Twitter changing its name to X......

Successful companies spend a lot of time and money building brand loyalty, getting people to associate their name with a product. Changing a company's name is usually only done when it has screwed up badly, and want people to forget they were that company. Is that what he is doing, or trying to link it to Space X? Either way, he is continuing to show what a crappy businessman he is.
 
Yes, I saw that. Elon Musk seems full of himself, seems convinced that he is a super genius.


I neglected to add Parler to my list of right-wing Twitter imitations, and I found out what happened to it.
Conservative social media platform Parler acquired and then immediately shut down by new owner | Mashable
On Friday, the digital media company Starboard announced that it had acquired Parler, the conservative social media platform. According to Starboard, the deal went through on Good Friday and it bought Parler for an undisclosed amount.

Following Starboard's announcement on Friday, the company immediately shut down Parler's website. A note on Parler.com reads "no reasonable person believes that a Twitter clone just for conservatives is a viable business any more."

To be clear though, this isn't an anti-conservative statement from Starboard. It's strictly business.
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“We focus on working with groups that are advocating for or otherwise advancing conservative causes or conservative beliefs,” said the company's CEO back in 2021, and that company has worked with Republican Congresspeople like Jim Jordan, Elise Stefanik, and Madison Cawthorn and conservative organizations like Turning Point USA.
 
So, can we all agree on this most basic statement:
"Elon Musk killed Twitter"?
Tom
 
The rebranding right now, based on his statement that advertisers are slow to return would imply that Musk reduced the ability for his own company to raise advertising revenue (which also technically one of their main income streams).

Musk hasn't killed Twitter. Twitter wasn't doing well before, which made his purchase of the company at a higher than average value rate so obviously stupid. As things stand Twitter needs more than a rebranding and Musk is trying to launch a Twitter 2.0 (or X 1.0?) with a whole new set of services that people can already get at several places... which again, spending $44 billion to effectively start a new company is again... really stupid.

Twitter is a good reminder to people than manic highs can be dangerous, even for billionaires.
 
Safety on Twitter: "We recently partnered ..." / Twitter
We recently partnered with @Sprinklr for an independent assessment of hate speech on Twitter, which we’ve been sharing data on publicly for several months.

Sprinklr’s AI-powered model found that the reach of hate speech on Twitter is even lower than our own model quantified 🧵
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then
Safety on Twitter: "More than 99% ..." / Twitter
More than 99% of content users and advertisers see on Twitter is healthy.

And the reach of hate speech on Twitter continues to represent an extremely small fraction of the overall conversation.

This past March, Twitter partnered with Sprinklr to understand, measure and reduce hate speech using its AI-based model and to further our commitment to create a brand-safe environment for our agencies and advertisers.

Today we’re sharing an update that includes all of April and May 2023.

Sprinklr’s independent model continues to show the reach of daily English-language hate speech impressions is even lower than Twitter’s own model estimates.

Sprinklr estimates the average daily number to be 0.003% compared to Twitter’s estimate of 0.012% for the period of January 1, 2023 to May 31, 2023. Additionally, we estimate hate speech impressions are 30 percent lower on average vs. pre-acquisition.

In June we significantly expanded our Freedom of Speech, Not Reach policy enforcement, which dramatically reduces impressions on harmful content. And all indicators for June and July show sustained progress.

Our work is ongoing and we’re proud of the progress we’re making in maintaining a healthy global town square that is open for everyone to be themselves.
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Which got this response.
Alexandria Ocasio-Cortez on Twitter: "lololol ..." / Twitter
lololol I have never experienced more harassment on this platform than I do now. People now pay to give their harassment more visibility.

The de-verification of journalists, civic orgs, and figures has made it impossible to follow conversations. I wish it could be usable again
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TomC said:
So, can we all agree on this most basic statement:
"Elon Musk killed Twitter"?
Tom
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It was already in trouble, but he certainly hastened its fall.

Twitter will not disappear entirely, but like many advert platform giants before it, it will become a degraded husk of its former self as the good money melts away.
 
Shadowy Man said:
lpetrich said:

Which got this response.
Alexandria Ocasio-Cortez on Twitter: "lololol ..." / Twitter
lololol I have never experienced more harassment on this platform than I do now. People now pay to give their harassment more visibility.

The de-verification of journalists, civic orgs, and figures has made it impossible to follow conversations. I wish it could be usable again
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And yet she posted this on Twitter. If it's not usable stop using it.
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Users aren't the source of Twitter's revenue. Advertisers consider number of users to be sure, but it's not the only thing they are worried about. Twitter is becoming less potato salad, more hot potato.
 
Jimmy Higgins said:
The rebranding right now, based on his statement that advertisers are slow to return would imply that Musk reduced the ability for his own company to raise advertising revenue (which also technically one of their main income streams).

Musk hasn't killed Twitter. Twitter wasn't doing well before, which made his purchase of the company at a higher than average value rate so obviously stupid. As things stand Twitter needs more than a rebranding and Musk is trying to launch a Twitter 2.0 (or X 1.0?) with a whole new set of services that people can already get at several places... which again, spending $44 billion to effectively start a new company is again... really stupid.

Twitter is a good reminder to people than manic highs can be dangerous, even for billionaires.
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Musk didn't think the new name through very well. Do a search for X and you'll see why.
 
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