872
And may it continue to crash and burn. It’s just 4 chan at this point.
this post was submitted on 30 Sep 2024
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same as my GameStop shares
We knew this was going to happen before he made the purchase.
Everyone said, the best way for Elon to keep his money was to change very little, or even take a hands-off approach.
Masnick suggested this would happen
It was that and so much worse. Moral of the story: Running a huge social media service is hard. Maybe don't assume that because you're a billionaire you're the best at doing stuff.
I mean the people at Twitter were very happy to sell it off. Remember how they actually sued to force him to go through with the deal and succeeded in stopping him from backing out?
Even if he’d managed it as well as the prior stewards, it was always a losing business.
Meanwhile he is on track to become the world's first trillionaire
I think the purchase was more about welding power than any financial gain
Hasn't his wealth kinda flatlined lately though? X is doing terribly, Tesla is struggling a bit, I think SpaceX is at least doing well.
I don't think he's going to be a trillionaire any time soon.
Would you not agree that he has a tool of influence with X? I see that as the main aspect of why you'd still buy twitter, even though he knew he wouldn't earn money with that.
First step to becoming a billionaire: start with 1 trillion
He tried to back out, I don't think any of this was about anything. He's just a dick with a weird sense of humor.
Masnick's post is well put, but also a disturbing reminder of how much power nation-states can exert over the Internet.
I mean, yeah we all knew he overpaid, but losing over 75%? I didn't expect that.
Twitter wasn't profitable right? So most of the "value" is in the name of the product. Elon changed the name and added his signature to everything the platform was doing, completely changing the platform Twitter is. So yeah, I do get why 75% of the money is gone now.
Changing the name of one of the most valuable brands isn't something I'd expect even him to do.
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Didn't he pay too much for it in the first place?
Yea. He made a baseless offer before investigating. And the. Got called on it.
Musk did not buy this as an investment. He bought it to flip elections and manipulate public opinion.
Tesla is writing him a check that will cover the entire purchase price, and Saudi Arabia and Russia will pay the operating costs.
Active users are what matters; if they lost 75% of their users then I'm paying attention.
I think it’s even pettier than that. He’s the loud guy on the forum who literally bought the site so he could be admin.
I think you're giving the guy too much credit. Sometimes things are as they seen. He just didn't like the moderation scheme on Twitter, made a gesture buying it, fumbled a little bit and overbid, then after having been forced to acquire it tried to turn it into something closer to what he wanted it to be.
Correct me if I'm wrong but I'm pretty sure he gave an outlandish bid for Twitter to manipulate it's stock prices when he pulled put, but he was sued into following through.
I don't think he ever wanted to buy it, or at least he wanted to crash it's value to come back and buy it on the cheap.
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Aren't 75% of the users Russian bots? Lol
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Posts about value are ads. Stop give exposure to this guy or his companies
That's a good start, now keep going
If they influence the election to their desired outcome, then the value won't matter. The damage will have been done.
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I remember thinking twitter was bad before he took over
It's now a complete shadow of what it was even just a couple of years ago. Just a quarter of its value seems generous
Elon Musk's greatest personal achievement has been his tireless work and incredible effort toward disproving the myth of Billionaire Exceptionalism.
And yet, he's still one of the what, 5 richest people on the planet?
He doesn't give a shit, and neither should you (as nice as the schadenfreude might feel). He got something worth more to him than plain old money - an established propaganda platform, which he is using as he intended - to war monger and otherwise interfere in politics to ensure fascism progresses as fast as he can help it. The "dent" (more like a surface scratch) it put in his finances is completely invisible and irrelevant to him.
And it should be to you, too.
He is NEVER going to end up without means or power, not even fucking close, unless we take them from him, and abolish the system that encouraged and enabled him to amass them in the first place.
PayPal and Tesla and SpaceX been pretty big successes. But Twitter is a real fuckup for him. It shows that his judgment and temperament and perfect boy genius mystique have all jumped the shark in a big way.
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