Technology

60087 readers

3185 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 2 years ago

MODERATORS

1273

According to Elon Musk’s own math, the company formerly known as Twitter has lost 90% of its value and could be worth just $4 billion (finance.yahoo.com)

submitted 1 year ago by bernieecclestoned@sh.itjust.works to c/technology@lemmy.world

246 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] darq@kbin.social 47 points 1 year ago (1 children)

When you have a net worth measured in the billions of dollars, it's genuinely impressive to be able to lose money. With that kind of sum behind your name, you could just do nothing and out-earn most people on the planet with just interest alone. To actually be able to lose money? Now that takes work!

[–] Daft_ish@lemmy.world 17 points 1 year ago* (last edited 1 year ago) (1 children)

Since Elon is just flushing money down the toilet do you think he might do me a solid and slice me off like 50k? Brah, that's like if I dropped a penny on you from my last paycheck, right? I ain't even getting greedy.

Like he could do that for 800,000 people and it would just be buying twitter, right?

[–] SpaceCowboy@lemmy.ca 14 points 1 year ago (1 children)

With $40 billion you could give a random person $1 million today. Then give another person $1 million the next day. And so on, for 100 years.

And you'd still have a private jet, a bunch of mansions, a fleet of luxury cars, and a bunch of yachts.

It's completely bizarre that a billionaire that's so desperate to be popular doesn't just give money to people. They don't want to give up the power that wealth gives them and so try to trick people into liking them.

[–] CharlesDarwin@lemmy.world 3 points 1 year ago

I'm assuming he could still be accruing wealth if he did that.

Assuming he made at least 5% or so per year on investment income, that would be 2 billion, and if you assume a 20% tax rate on that, it would be 1.6 billion, still more than 365 million it would take to give away one million every day.

And so if he could live on less than ~1.2 billion per year, he'd still be gaining wealth...