this post was submitted on 16 Jul 2023
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The didn't buy Twitter for a profit.
He bought Twitter to destroy it because big free horizontal communication platforms are bad for billionaires.
He can't just close it, so he just destroy it little by little until it is no more.
The same way conservative groups bought Tumblr because it was too sexual liberating for their conservative views.
he offered to buy twitter for a joke, and he actually did buy twitter because a court forced him to. not because this was some grand plan to accomplish anything - he literally spent months in court arguing that he shouldn't have to buy twitter, and he lost. that's the only reason he owns twitter now.
the court didn't force him, he could have paid a penalty that was much lower than his current losses.
He bought Twitter by mistake, and was forced into it by Twitter shareholders who saw the opportunity to make bank.
This is also the case, however he had the option to drop out with much lower losses.