this post was submitted on 30 Sep 2024
411 points (97.9% liked)

News

23310 readers
3603 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago
MODERATORS
 

Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price, according to a new estimate from investor Fidelity. 

The asset manager, which helped Musk acquire the social network formerly known as Twitter, now values its stake in X at approximately $4.19 million, based on newly released disclosures from Fidelity’s Blue Chip Growth Fund. The fund has reduced the value of its holding in X by a total of 78.7% as of August end.

you are viewing a single comment's thread
view the rest of the comments
[–] restingboredface@sh.itjust.works 33 points 1 month ago (4 children)

A part of me thinks that some of this is deliberate- like once it was clear he was going to have to follow up with the twitter deal the places/people that funded him did so on the condition that he tank it.

I know that's insane but I really am struggling to see how anyone could commit this many public fuckups unintentionally.

[–] seaQueue@lemmy.world 19 points 1 month ago

I've been waiting for him to find some way to turn the loss into a bailout for a year now. If there's one thing he's good at it's robbing the public.

[–] beebarfbadger@lemmy.world 4 points 1 month ago

I'm not certain that it was an explicit condition negotiated with Musk, but I'm sure his investors had full confidence in his ability to do it anyway :)

[–] ProgrammingSocks@pawb.social 3 points 1 month ago

Sorry, Musk is really just this incompetent, and our society allows people to fail upwards in this manner.

The people at the top didn't do anything unique to deserve being up there. The meritocracy is a lie - Musk proves it.

[–] Llewellyn@lemm.ee 1 points 1 month ago

I heard he's a ketamine addicted