Value of X has fallen 71% since purchase by Musk and name change from Twitter
Value of X has fallen 71% since purchase by Musk and name change from Twitter
Mutual fund Fidelity, which owns stake in social media platform, marks down value of its shares in disclosure obtained by Axios
Brilliant business strategy, you just wait!! 😂
Literally only the best strategies here! I mean lets recap:
- Threaten to buy company then double down and agree in writing as a bullying tactic: check
- Roll a nat 1 on your intimidation check: check
- Be forced to follow through when called out on being mentally an 8 yo by the feds: check
- Fire critical employees, like basically all of them: check
- Yoink verification away from public news orgs: check
- Let anyone pay to be "legit," even if they're parodying you: check
- Rename twitter to the stupidest thing imagined since head-on (apply directly to the forehead): check
- Gut content moderation policies but also stop enforcing regardless: check
- Post own hate content and racism to the platform: check
- "Accidentally" run ads next to hate content: check
- Be told your sign sucks and to take it down by city: check (lol)
- Become a living embodiment of "big yikes" energy while telling aforementioned advertisers to "go fuck yourselves" on live TV: check
- Hallucinate about making x into a libertarian wechat alternative: check
- Tank the value of the company while blaming literally anyone else for your failures: mission in progress, #1 priority
10/10 solid buy, gonna grab some long calls rn. The koch boys and rupert murderjock must be holding back a tsunami of jealousy by now 🤣
He’s a genius playing 8D chess. You just don’t understand. By this time next week, Twitter will be the only website in the world and Lonnie will laugh at you from mars. Just watch!
Insert Bond Villain Plot™ where he's secretly buying all the EMP-hardened server parks in the world, and it's getting ready to orbital-nuke everything except Shitter servers back to the stone age.
And of course he will brick every phone and computer everywhere, so nobody will be able to use Shitter, but God damnit, it will be the only site left!
wHaT bUsInEsS hAvE yOu StArTeD
*follows Musk on LinkedIn*
I'd love to see the investment banks start to call their loans that financed this purchase in the first place.
They already wrote them off. If i had lost a 100th of that i'd never have credit ever again
You could have the same privileges if you just work hard enough! /s
I'm honestly a bit surprised
Surprised that it's only 71% that is
shocked pikachu face
I used to keep a couple of bookmarks of people I liked to follow to view on Nitter; now I don't even care about that mostly because the most of them left Twitter.
Maybe, but I don't think Musk is running twitter for money. He's probably doing what every billionaire is doing. Buying media to shape public opinion. Turning twitter right leaning to build public support for conservative policies that will benefit his other business is probably the play.
Why worry losing 20bn when he could gain 50bn for SpaceX(SeX. Just seen that...) and Tesla? Sounds like a good return on investment.
SpaceX(SeX. Just seen that...)
And Tesla's first few car models were S, 3, X, Y (Ford owned the trademark on model E, so Musk had to go with 3).
I did not know that. He really is a manchild.
When the Japanese Earthquake information twitter account was throttled a few days ago, after the earthquake, there seemed to be this general realisation that they were not going to be able to use it for disaster communication any more....
Not sure things would look much different if Twitter was intentionally destroyed.
That's because it probably was
As easy as it is to hate what he did to Twitter I wonder how much of that original value was just "VC hype" and now people see it for the failure it has always been like all social media in a way. Turns out it's pretty hard making money out of non paying users.
I think alienating all the advertisers probably didn't help much either.
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The original value was based on ad revenue which is down now. It has nothing to do with VC hype or non paying users.
Good.
🤖 I'm a bot that provides automatic summaries for articles:
Click here to see the summary
The number of monthly users of X dropped by 15% in the first year since Musk’s takeover amid concerns over a rise in hate speech on the platform.
And in September, the European Union issued a warning to Musk after it found that X had the highest ratio of disinformation posts of all large social media platforms.
That disclosure would cover the fallout from a number of major companies pulling advertising on X after Musk endorsed an antisemitic conspiracy theory, the New York Times reported.
Since the takeover Musk has reinstated a number of people previously banned from the platform, including former president Donald Trump and the rightwing conspiracy theorist Alex Jones.
Trump is facing more than 90 criminal charges stemming from subversion of the 2020 election that he lost to Joe Biden, retention of government secrets after his presidency and hush-money payments to porn actor Stormy Daniels.
Meanwhile, Jones recently proposed to pay $55m over 10 years to the Sandy Hook families who sued him for spreading lies that the 2012 schoolhouse killings in Newtown, Connecticut, were part of a hoax meant to force the US to accept gun control.
Saved 57% of original text.
Why are we still talking about this dead platform?
MORE!
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