this post was submitted on 07 Sep 2023
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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
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[–] NoneOfUrBusiness@kbin.social 17 points 1 year ago (3 children)

That's not really how that works. He just reduced the value of the site. He nuked value out of existence.

[–] Fraylor@lemm.ee 16 points 1 year ago (1 children)

I mean he did spend 44 billion prior to said nuking. Site isn't worth as much now sure, but the volume of currency still traveled into the hands of others.

[–] NoneOfUrBusiness@kbin.social 2 points 1 year ago (1 children)

Good point actually.

[–] DogMuffins@discuss.tchncs.de 1 points 1 year ago

Is the previous owner also a fuckhead though?

[–] elvith@feddit.de 7 points 1 year ago

But he hasn't realized his losses yet - HODL!

[–] chicken@lemmy.dbzer0.com 4 points 1 year ago

Twitter having overwhelming dominance may have had value to shareholders, but IMO that is at the expense of everyone else. Not having to use Twitter is valuable.