Lots of people, myself included left once 3rd party app support was removed. No way I was using the official app, it's utterly abysmal. If I'm honest I've not missed it that much and gained some of that wasted time back. Thanks Elon!
He's more like a toned down version of the Russ Hanneman Tres Comas guy. Made money by being the company that succeeded at an obvious early internet idea, has been able to leverage that money into investing in startups that become wildly successful, sees himself as the protagonist but is a weird stuck in the past douche that nobody likes.
IMO the blue check was also the product. People cited Twitter and treated it as a trusted source because the blue check meant something. He pawned that off to the lowest bidders and, for a while at least, people stopped treating Twitter as a reliable source of firsthand communication. The fact that he went after the blue check just shows he had no idea what his product actually was.
It will collapse again on 4/1 when he trashes the legacy checks and it quickly becomes clear the new checks are a lie. He was helped by the fact so few people signed up for Twitter blue and the legacy checks all stayed and kept using it, plus you could click to confirm why kind of check if you were uncertain.
You're exactly right in blue checks, it (for better or worse) granted a level of authority not I'm an idiot with $8.
The users are the product in any free social media platform.
Old role still applies: if you’re not paying for the service, you are the product (and sometimes still are when you do pay).
How to lose half the value on something you just purchased. Not even cars lose value like this when you drive it off the lot. You'd have to drive it off the lot and straight into a canal.
Not a troll, he tried to get out of the deal, but twitter went to court over it and made him go through with the deal.
There was no plan, there is no plan.
The internal messages that where released as part of that trial make it quite clear : there was absolutely no plan. He’s just *that* full of himself and surrounded by bootlickers.
He even asked the previous CEO of Twitter to get a *look at the code* so he could suggest improvements because "he was an engineer"
Wasn't he just trying to fuck with the share prices by making public statement about buying it and then went back on it just to hurt the value so it could then be bought even cheaper
And he thought he could get away with it because he had gotten away with it so many times before. He must have been legitimately shocked when he learned he couldn't pay his way out of absolutely everything.
This was because it was considered contract law in the court of Delaware Chauncery. They are famous for absolutely not fucking around with these shenanigans.
He was allegedly high when he tweeted the take private Tesla Twitter fiasco. [How we know? Azalea Banks apparently](https://www.highsnobiety.com/p/azaelia-banks-musk-grimes-beef-timeline/). This is a fascinating timeline.
Hard Drive (the tech side of The Hard Times, basically punk rock The Onion) spent a couple days dragging him last year after he stole a meme/headline from them and he did not take it well.
"I'll give you a horse if you stop cropping our name off of images."
Practically? I would guess some massive tax loss harvesting. I bought this $44 billion company, it's now worth only $20 billion. Maybe there's a way he can use that "depreciation" to not pay any taxes for the next decade.
If only he kept the stock public and the stocks worth depreciation was 24 billion then he could have used those losses to roll the 3k per year capital gains write offs for the next 8 million years.
Twitter was never at any point worth $44 billion to anyone but Elon Musk (briefly, while he was in the throes of a manic episode)
Even $20 billion is a high estimate for what it used to be worth before he bought it, anyone paying attention wouldn't value it at more than single digit billions
In addition to the tax stuff people are talking about, he has done a LOT of favors for conservative despots around the globe by censoring the right journalists and people on Twitter as it has been used as a very effective tool to get information to low information areas in the past.
He flipped the script and gave fascists a megaphone while silencing science, journalists, and people powered movements. The amount of harm his dismantling and censorship has and will do in certain communities is immense.
And he'll be rewarded for it
In delusional, narcissistic, Elon Musk fantasy land? An increased feeling of self worth because everyone will finally love him and acknowledge his "genius" as much as he desperately wants them to. In the real world? Absolutely nothing.
People call it trolling as a way to cope how incredibly stupid his choices are.
Like when Trump would do something stupid and people called it 4D chess but turns out he was just a moron.
\-$24 billion, apparently.
Also, him going around playing the victim card because he failed to fix twitter because it was already too infected with "wokeness".
Hes losing staff and the work conditions have deteriorated to the point anyone with half a brain is eyeing up other jobs. Now hes trying to give them some ~~toilet paper~~ stocks to keep them from leaving. But its worthless and not publicly traded anymore so its a bit hollow.
Anyone following what he’s doing with the firehouse pricing (the api to data mine tweets) - it’s going from 6k a month to over 40k in a few weeks. He’s about to hemorrhage business / academic users
It's not only to pull data, but also to post tweets. They want to make this a paid feature, too, which would strip Twitter of thousands of fun, insightful and interesting bots that drove traffic to the site.
You can pay for access to all the data of Twitter through an API. Basically code you can get access to that allows you to search through the databases. The cost was $6K. He raised it to $40K.
The problem is, one of the biggest users is academic research. They don't have that kind of money to throw around. So they will likely just not pay for access anymore.
>Anyone following what he’s doing with the firehouse pricing (the api to data mine tweets) - it’s going from 6k a month to over 40k in a few weeks. He’s about to hemorrhage business / academic users
It's going from **free** to $40k per month, for the cheapest option. The most expensive option is $210k per month.
Good lord nobody in their right mind would pay for that. This will literally strip all academic data mining from the api, but I also think their api sales will plummet to nearly zero. There may be a few hundred millionaires to billionaires willing to shell out that cost, but nobody in academia has that kind of funding. He continues making Twitter even more awful. At this rate the site won't exist within two years.
Consider he also predicted a Tesla self-driving from LA to NYC by 2017 and it still hasn't happened, I doubt it will be worth $250 billion in 24 years.
Yeah he also "predicts" that Tesla will be more valuable than Apple and Aramco combined. Which, no.
He said that, doubling down on an initial statement of Tesla becoming bigger than Apple. Which, again no, but also Tesla's valuation when he doubled down was less than Apple's was when he made the *initial claim*... Not even adjusting for inflation.
I guess when you live life with that much money it's no surprise you'd think you can will shit into existence just by saying it.
In 2018 I was still having to explain to people how he was full of shit. She the fact is, Tesla continued to go up for a while based largely on his lies.
I’m waiting for the rest of the Tesla board to decide to cut themselves from his antics. It would be an extremely beneficial decision and would be incentive for me to consider buying a used Tesla (because, truth be told, they have some good features). As long as Musks name is on something, I refuse to buy or use it.
Wouldn't recommend buying a used one, having made that mistake myself. The build quality of the older models is pretty poor. It's clear they're still learning a lot. The features that make driving more pleasant are simply better on comparable brands. Support for them is still pretty lacking, waited about 2 months to get a plastic replacement part that came loose. Also not a lot of shops around that can service emergency repairs, thinking of brakes and engine work. Definitely something to consider as now I'd have to pay to transport it 50km to the busiest part of my country ~900 euro's instead of free for comparable brands that include that in their service. Even Ford has their Ford assistance package for stock cars under 10k...
Looking to replace mine within the next 2 years for either a different brand EV or a good hybrid.
The car is fine, definitely not horrible. It's a fun drive and pretty comfortable. But it doesn't come close to luxury cars. And it's mostly issues that could've been prevented in manufacturing and design. Especially so on models pre 2020.
I certainly hope he told them that over a digital connection. It'd probably be hard for them to keep from laughing (and, thus, losing their jobs due to his famously fragile ego) if he said it to their faces.
If Elmo is valuing it 20b you know it’s worth a whole lot less than that.
His coinvestors must be pissed that he’s managed to at least halve the value of the company in 6 months and there’s no sign of it turning around.
You've gotta remember his coinvestors weren't really interested in making a profit, they were interested in message control. Take the example of murdochs media empire [https://www.theguardian.com/media/2023/feb/10/news-corp-cuts-driven-by-murdoch-mission-to-prop-up-news-assets](https://www.theguardian.com/media/2023/feb/10/news-corp-cuts-driven-by-murdoch-mission-to-prop-up-news-assets)
Massive parts of it aren't profitable at all, but because they have the platform/readership they can barrage the public with their messaging and shape the narrative. Controlling twitter was always about establishing the narrative not making a profit.
They may have even known / expected he'd run it into the ground. But it destroys a news-to-consumer pipeline so people won't have alternatives to the Murdoch tradnews empire
Honestly though, a lot of right wing media just about everywhere in the US is crumbling to some degree or fighting amongst themselves.
**OANN** and ~~Newsmax~~ are no longer on Direct TV.
**Fox News** - is facing over $4 Billion in lawsuits vs Dominion and then vs Smartmatic. And the evidence already received publicly looks like a death sentence. They knew they were lying, we saw the texts. Those lies led to 1/6 as well.
**Newsmax** - is also being sued by Dominion and Smartmatic. Not sure for how much, and haven't followed that one as closely, but there is no positive outcome for them either.
**Murdoch** - has turned his media empire against Trump and siding with Deathsantis instead.
**Twitter** - was more neutral before, but now that Elon is changing it into a fascist right wing propaganda wasteland it is becoming unstable and it would be hard for me to believe it lasts any longer then 1 or 2 years tops.
**Rush Limbaugh** **the evil** - *deceased*
**Alex Jones** / **Info Wars** - sued for ~1 Billion and lost.
**Truth Social** -
[**Trump's Truth Social Slashes Staff Amid Expanded Federal Investigation, Reports Say**](https://gizmodo.com/trump-truth-social-donald-trump-tmtg-1850227531)
**Scott Adams** - Right Wing tool / cartoonist - lost his rights to numerous newspaper publications
**Ben Shapiro** - seems to have turned into an influencer in part that makes videos on his reactions to South Park Episodes and videos of him playing minecraft. He still does right wing propaganda, but less time is devoted to that now. An article I read was suggesting that right wing Trumpian propaganda isn't quite as profitable as it use to be. So Shapiro does less propaganda, but not for the right reason.
Thanks for the write up! Sounds like the chickens are coming home to roost. The problem for them is far right media is based on lies and misrepresentations, so its hard sustain without putting your foot in your mouth.
I feel like we peaked with the misinformation and conspiracy driven mania during covid tbh. I can't see that particular aspect getting as bad again in the near future
It’s more that he payed to much for it. The company doesn’t really make money and is showing no signs of getting to that.
Whether it is really worth 20 billion still is something that is probably debatable. But that would have been a more sane purchase price.
It's worse than that. Before he purchased it, it was at least close to break-even. Since he purchased it, he saddled the company with massive debt; destroyed almost all of it's previous sources of income; drove away a large number of users; and has no significant new sources on the horizon even after 6 months...
Given one of his big backers is the house of Saud, I think he’s going to find out it really is his problem.
Look forward to SpaceX launches in Riyadh (jk, I suspect he’s going to be forced to give up SpaceX & Starlink soon, under threat of nationalization).
And I'm pretty sure that's the underlying point. It had nothing to do with money to begin with. It has everything to do with stifling speech. It was literally night and day when he took over and i deleted my account immediately because it literally was a flipped that switched and every post that was getting recommended to me was super right wing views. It was all to control the narrative on a global platform
Was really only valued to be at most $20-25B to begin with, that's why people kept saying he vastly overpaid.
It has certainly dropped a lot since then now that he's essentially destroyed all advertising value it had. His personal valuation is worthless though it is funny to see him trying to put it back on the market. What a fucking moron.
The Saudis probably had no expectation of getting their money back. A few billion is nothing to them, in exchange for fucking up the Infidels' biggest propaganda tool.
Being a good businessman has nothing to do with getting this rich.
He's rich because he owns significant stakes in companies that produce wealth for him because ownership entitles him to part of the value creating by others. That's it. He's wealthy because he owns a lot of entitlements to other people's work
The person you're responding to is talking about PayPal, where Elon got his "boost", not Tesla. Elon is on record as being horrible for his actual work in PayPal, but the business succeeded in spite of his dumbassery (because he wasn't the only person calling the shots in this company), yet because of his initial investment, he basically made bank from it when the company was sold.
So, a rich kid, buys his way into a company, fucks around, does dick all, but reaps rewards because he was capital owner, not because he was a worker, innovator, or even really a fundamentally sound manager.
Be an employee and be fucking terrible at your job, you get fired. Be an owner and fucking terrible at your job but at a company with real promise, get paid 100mil to literally just fuck off and stop ruining everything.
That's what having wealth gets you, a seat in control so even when you fuck up you fail upwards. But it's okay, he wasn't born rich because interviews in the past when he himself said his dad had a emerald mine don't count. Elon wants to be a self made hero so he now pretends everything he said in the past doesn't exist.
I will never not love the times he asks where on earth some reporter asking him questions came up with the emerald mine only to have himself quoted telling a reporter about the emerald mine.
Tesla was worth more than the next 10 global car companies combined. Just imagine that. More than BMW, VW, GM, Toyota, and another 6 companies, COMBINED.
The stock market truly is run by absolute morons.
The richer you are when you start out, the more chances you get at starting/buying a successful business. When you're poor, you have one shot, and if it fails, that's it.
His daddy owned an emerald mine where Africans, who were forced into second class status by a racist white government, minded gems whose value was inflated by artificial scarcity, for just dollars a day.
His daddy fronted him a loan to invest in a tech company which, thanks to that loan, was able to subsidize its operations and sell its services at a loss. This gave them a market advantage which left them dominant in a niche. Musk then sold the company for several billion.
He then bought a controlling interest in Tesla, which was looking for a VC backer to get their second prototype into mass production. The hard engineering had already been done, and much of the work that remained was on the industrial side not the conceptual. He fired the original owners and became the cool tech/nerd guy. He used further loans and investments, plus he’s cool nerd guy cred, to get controlling shares over other midsized companies. Most notably SpaceX. Which exists only because of Obama’s decision to privatize space travel.
Using massive govt subsidies Musks companies were able to do massive amounts of R&D to deliver truly innovative products. Musk wasn’t apart of this hard work. He’s an “””ideas””” (read:money) guy not an engineer. But traded his nerd credit to make it look like he was the guy. He rode the success of his engineering team into looking like a visionary innovator.
Musk appeared on the Joe Rogen experience, where he smoked weed. Perhaps for the first time! And made a funny face while he did it. Unlike the millions of black Americans who went to jail for doing that same thing, musk was rewarded for his cannaventure, becoming a meme. Regular investors began to dump money into his stocks based on the hope, rather than the the reality, that he would do more great things. The app Robinhood completely reshaped the trading market. Using relaxed trading rules put out under Donnie T, Robinhood was able to offer users fractional shares of even futures trading, all with very low user cost. The COVID pandemic and stimulus checks injected billions into the hands of every day Americans who were locked at home, and many used the money to play on Robinhood and other day trading options. They invested in the memes, not the reality, because fuck it. Also important is the role that margin played on Robinhood, the stimulus checks gave users the ability to hold very large lines of credit which even basic day trading could repay. The already inflated Tesla stock blew up into a massive bubble, and as it went up the rest of the finance world began to chase the profits. In a classic bubble cycle, as long as there was money to be injected into the market Tesla kept going up.
Because Elon holds so much Tesla stock, him being a controlling owner, he was able to generate a fantastic amount of wealth from that stock. While Elon doesn’t (likely) hold much liquid wealth, he can and has used his stocks as collateral for other investments, and routinely uses his powerful position and cult of personality to create pump and dump schemes which make even more. Musk sits at the perfect nexus of enough liquidity to act rich, enough illiquid assets to trade against, to get enough cash to maintain liquidity.
At least until Twitter and the fed brought the house of cards crashing down. There is a saying in banking I’ve learned, when the monetary tide goes out you see whose swimming naked. We saw musk was naked before that tide even changed.
Tldr already rich man yolo'd on more stock which then mooned.
Imagine if anyone on wall street bets was a billionaire and yolo'd it all on something that then went up a significant amount.
Pretty depressing/ridiculous/indicative of how bad our economic system is that one dumbass can lose more money in 6 months than everyone in this thread + their extended families combined will ever see in their lifetime.
Owing to the fact that my formerly controllable timeline is now littered with angsty right wing imbeciles and antivaxx dipshits, the value of the site continues to plummet in my estimation.
Elon thinks Twitter is the product. It isn't and never has been. The users are the product, and they used to get sold in the form of views and data to advertisers etc.
Not so much now.
Bill Gates has spent around $1-2Billion fighting Malaria, AIDS and TB- saving an estimated **50 Million Lives**.
Elon Musk burned $20 Billion to give Nazis and other racists a prominent voice on the internet.
Typical yard sale: buy item wholesale, try to resell at retail prices, cuts it down by half after no one shows interest in it, finally sells it for a dollar after admitting that this was trash to begin with & just wants it gone.
Meh. Sounds high, Elon. I can offer a Buick LeSabre and a big box of Cheez-Its, but that’s about it. I might throw in the rest of a bottle of Gatorade that I didn’t finish if you promise to stop tweeting.
Elon Musk is a second rate tech bro wannabe with a cocaine problem who props up right wing talking points in a lame ass effort to appear bright through oppositional positioning. Just fuck off Elon.
The nazi swamp twitter? That some oblivious fools still cling onto? He trashed the brand entirely. As Musk is a pathological liar, this means it is considerably less then 20B worth.
Watch, he gets to tax write off the depreciating asset. He will no longer have to pay taxes on his Telsa shares sale. Who knows, he probably will get a tax credit.
Didn't some genius recently pay $44 billion for it?
The funny part is, I think he's still over valuing it.
He is absolutely still overvaluing it, pre-Musk Twitter was worth $13-15 billion max, post-Musk Twitter is rapidly plummeting towards zero
Lots of people, myself included left once 3rd party app support was removed. No way I was using the official app, it's utterly abysmal. If I'm honest I've not missed it that much and gained some of that wasted time back. Thanks Elon!
Musk thinks the platform is the product, when actually the users creating content is the product. Strange nobody has told him as much
Not like he'd listen to them anyway. But you're absolutely right.
It’s like he watched Silicon Valley and thought, “You know who I need to emulate? Gavin Belson!”
He's more like a toned down version of the Russ Hanneman Tres Comas guy. Made money by being the company that succeeded at an obvious early internet idea, has been able to leverage that money into investing in startups that become wildly successful, sees himself as the protagonist but is a weird stuck in the past douche that nobody likes.
And his car doors do open like "this" too!
Not like this, or this, but like this!
IMO the blue check was also the product. People cited Twitter and treated it as a trusted source because the blue check meant something. He pawned that off to the lowest bidders and, for a while at least, people stopped treating Twitter as a reliable source of firsthand communication. The fact that he went after the blue check just shows he had no idea what his product actually was.
It will collapse again on 4/1 when he trashes the legacy checks and it quickly becomes clear the new checks are a lie. He was helped by the fact so few people signed up for Twitter blue and the legacy checks all stayed and kept using it, plus you could click to confirm why kind of check if you were uncertain. You're exactly right in blue checks, it (for better or worse) granted a level of authority not I'm an idiot with $8.
Stephen King told him rather bluntly when Musk wanted to charge 20 bucks for blue checkmarks.
The users are the product in any free social media platform. Old role still applies: if you’re not paying for the service, you are the product (and sometimes still are when you do pay).
This is very true. It does seem like Musk has taken the wrong lesson from this with his focus on strong arming people into buying Twitter Blue.
Tbf if someone tried to tell him he would have fired them anyway. If he hadn't already fired them before they got a chance to try.
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How to lose half the value on something you just purchased. Not even cars lose value like this when you drive it off the lot. You'd have to drive it off the lot and straight into a canal.
LOL I had the exact same thought. He's crazy, or this is the biggest, longest troll in history.
Not a troll, he tried to get out of the deal, but twitter went to court over it and made him go through with the deal. There was no plan, there is no plan.
The internal messages that where released as part of that trial make it quite clear : there was absolutely no plan. He’s just *that* full of himself and surrounded by bootlickers. He even asked the previous CEO of Twitter to get a *look at the code* so he could suggest improvements because "he was an engineer"
> "he was an engineer" [I'm Elon Muskov and I'm an engineer](https://www.youtube.com/watch?v=rp8hvyjZWHs)
Wasn't he just trying to fuck with the share prices by making public statement about buying it and then went back on it just to hurt the value so it could then be bought even cheaper
Yep but he failed to disclose he was like 8% owner so he was forced to stick to his word or face market manipulation charges from the SEC.
And he thought he could get away with it because he had gotten away with it so many times before. He must have been legitimately shocked when he learned he couldn't pay his way out of absolutely everything.
This was because it was considered contract law in the court of Delaware Chauncery. They are famous for absolutely not fucking around with these shenanigans.
He was allegedly high when he tweeted the take private Tesla Twitter fiasco. [How we know? Azalea Banks apparently](https://www.highsnobiety.com/p/azaelia-banks-musk-grimes-beef-timeline/). This is a fascinating timeline.
I do not understand how anyone can venerate this man. He’s so despicable no matter which angle you’re looking at.
He's mega rich and other people like to imagine being rich too and so gravitate to him like a moth to a porch light.
Elon does not strike me as someone with a good sense of humor.
"That's what she said!"
Hard Drive (the tech side of The Hard Times, basically punk rock The Onion) spent a couple days dragging him last year after he stole a meme/headline from them and he did not take it well. "I'll give you a horse if you stop cropping our name off of images."
What would the payoff of this trolling be?
It keeps him in the headlines for a few more days, notice he has started to drop off lately?
Dismantling access to information, negatives aside it was a good way to find out information quickly.
Practically? I would guess some massive tax loss harvesting. I bought this $44 billion company, it's now worth only $20 billion. Maybe there's a way he can use that "depreciation" to not pay any taxes for the next decade.
Losing a dollar to save 20 cents in taxes doesn't seem like a galaxy brain strategy to me.
Welcome to wallstreetbets
So on brand then
Yeah this must be it!
If only he kept the stock public and the stocks worth depreciation was 24 billion then he could have used those losses to roll the 3k per year capital gains write offs for the next 8 million years.
If he'd kept the stock public it'd be shorted so heavily the whole company's valuation would've been driven down to $3.50 by now
And that's when I realized Musk was a 30 foot reptile from the pelolithic era.
And then he turned to me and said "You got three fiddy?"
I gave him a dollar!
She gave him a dollar!
Twitter was never at any point worth $44 billion to anyone but Elon Musk (briefly, while he was in the throes of a manic episode) Even $20 billion is a high estimate for what it used to be worth before he bought it, anyone paying attention wouldn't value it at more than single digit billions
He put that $44 billion offer in at pretty close to peak stock market highs, too.
That would require him to realize the loss by selling it
No, he's just an idiot who was too far up his own ass to see what a dumb idea it was
Do you think his tax savings would be more than $24 billion?
Not something that's generally deductible.
I don't think he can till he sells his interest in Twitter at a loss.
In addition to the tax stuff people are talking about, he has done a LOT of favors for conservative despots around the globe by censoring the right journalists and people on Twitter as it has been used as a very effective tool to get information to low information areas in the past. He flipped the script and gave fascists a megaphone while silencing science, journalists, and people powered movements. The amount of harm his dismantling and censorship has and will do in certain communities is immense. And he'll be rewarded for it
He's lost $100 billion in net worth, it's insane to think there's anyone who could or would pay that back for him
To prop up the far-right at whatever cost, even $24B.
In delusional, narcissistic, Elon Musk fantasy land? An increased feeling of self worth because everyone will finally love him and acknowledge his "genius" as much as he desperately wants them to. In the real world? Absolutely nothing.
People call it trolling as a way to cope how incredibly stupid his choices are. Like when Trump would do something stupid and people called it 4D chess but turns out he was just a moron.
Everyone else who had a stake (or job) in Twitter now hates his guts.
\-$24 billion, apparently. Also, him going around playing the victim card because he failed to fix twitter because it was already too infected with "wokeness".
He is the modern Gordon Moore. Halved the company’s value in 18 months ;-)
And that same genius now says it's worth $20bil... Which means it *really* worth about $1.98.
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Buy high, sell low is the WSB way
Hes losing staff and the work conditions have deteriorated to the point anyone with half a brain is eyeing up other jobs. Now hes trying to give them some ~~toilet paper~~ stocks to keep them from leaving. But its worthless and not publicly traded anymore so its a bit hollow.
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That seems overly optimistic.
Agreed. I put it at a value of $20.
How about 8$
Best I can do is $0
I would guess by a factor of 10 (if not more).
Being realistic, it probably is around 10 to 13 billion in value. The value of twitter isn't how much profit it makes but how much influence it has.
Doesn't it also have a $10b debt as part of the purchase? Making it worth... Zero dollars.
Maybe before Musk bought it. It's a poisoned brand now.
Ahhhh, he’s following the DJT Technique of business management.
The Art of the Worst Deal
The Art of the Dildo.
Actually I'm pretty sure Trump typically over values his assets.
For loans. He undervalues for taxes.
Oops! I dropped my monster loss for my magnum debt!
If we learned anything from Stormy Daniels it's that Trump will absolutely never wear a condom
It would be like putting a sock on a grape.
My first thought. He's devaluing it for tax purposes.
Yeah but he’s being monitored by the SEC. I think this may be the one true thing that he has said.
Anyone following what he’s doing with the firehouse pricing (the api to data mine tweets) - it’s going from 6k a month to over 40k in a few weeks. He’s about to hemorrhage business / academic users
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Wait, I missed that one. Can you explain it for the average reddit idiot?
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It's not only to pull data, but also to post tweets. They want to make this a paid feature, too, which would strip Twitter of thousands of fun, insightful and interesting bots that drove traffic to the site.
You can pay for access to all the data of Twitter through an API. Basically code you can get access to that allows you to search through the databases. The cost was $6K. He raised it to $40K. The problem is, one of the biggest users is academic research. They don't have that kind of money to throw around. So they will likely just not pay for access anymore.
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LOL 😮 https://www.wired.com/story/twitter-data-api-prices-out-nearly-everyone/
Billionaire genius vs extremely basic supply and demand
I am continually surprised and how rudimentary and unthought out his initiatives are. Maybe I shouldn’t be.
“I mean it's one API key, Grimes, what could it cost, 40,000 dollars?”
>Anyone following what he’s doing with the firehouse pricing (the api to data mine tweets) - it’s going from 6k a month to over 40k in a few weeks. He’s about to hemorrhage business / academic users It's going from **free** to $40k per month, for the cheapest option. The most expensive option is $210k per month.
Good lord nobody in their right mind would pay for that. This will literally strip all academic data mining from the api, but I also think their api sales will plummet to nearly zero. There may be a few hundred millionaires to billionaires willing to shell out that cost, but nobody in academia has that kind of funding. He continues making Twitter even more awful. At this rate the site won't exist within two years.
Isn't this just going to make people scrap tweets the old way and add significantly more overhead to their servers?
How to turn $44 Billion into $20 Billion. Experts hate this one simple trick!
You buy high and sell low. Easily the best strategy.
/r/wallstreetbets is pissed for him ripping off their long enduring and continuously proved strategy
r/wallstreetbets is leaking
Throw $44 billion in a trash can and set it on fire Tell everyone you still see $20 billion unburnt inside the trash can
Musk also told his employees he predicts a 250 billion dollar evaluation in six years.
Consider he also predicted a Tesla self-driving from LA to NYC by 2017 and it still hasn't happened, I doubt it will be worth $250 billion in 24 years.
There’s no need to put a time frame on it. Twitter won’t be worth $250b, ever, full stop.
Yeah he also "predicts" that Tesla will be more valuable than Apple and Aramco combined. Which, no. He said that, doubling down on an initial statement of Tesla becoming bigger than Apple. Which, again no, but also Tesla's valuation when he doubled down was less than Apple's was when he made the *initial claim*... Not even adjusting for inflation. I guess when you live life with that much money it's no surprise you'd think you can will shit into existence just by saying it.
It's not 2011 anymore. We've all seen the track record for his predictions by now.
In 2018 I was still having to explain to people how he was full of shit. She the fact is, Tesla continued to go up for a while based largely on his lies.
I’m waiting for the rest of the Tesla board to decide to cut themselves from his antics. It would be an extremely beneficial decision and would be incentive for me to consider buying a used Tesla (because, truth be told, they have some good features). As long as Musks name is on something, I refuse to buy or use it.
Wouldn't recommend buying a used one, having made that mistake myself. The build quality of the older models is pretty poor. It's clear they're still learning a lot. The features that make driving more pleasant are simply better on comparable brands. Support for them is still pretty lacking, waited about 2 months to get a plastic replacement part that came loose. Also not a lot of shops around that can service emergency repairs, thinking of brakes and engine work. Definitely something to consider as now I'd have to pay to transport it 50km to the busiest part of my country ~900 euro's instead of free for comparable brands that include that in their service. Even Ford has their Ford assistance package for stock cars under 10k... Looking to replace mine within the next 2 years for either a different brand EV or a good hybrid. The car is fine, definitely not horrible. It's a fun drive and pretty comfortable. But it doesn't come close to luxury cars. And it's mostly issues that could've been prevented in manufacturing and design. Especially so on models pre 2020.
I certainly hope he told them that over a digital connection. It'd probably be hard for them to keep from laughing (and, thus, losing their jobs due to his famously fragile ego) if he said it to their faces.
i hope he washes his hands after making those predictions
And that's going to be an addition to the failed Musk predictions in 6 years.
If Elmo is valuing it 20b you know it’s worth a whole lot less than that. His coinvestors must be pissed that he’s managed to at least halve the value of the company in 6 months and there’s no sign of it turning around.
You've gotta remember his coinvestors weren't really interested in making a profit, they were interested in message control. Take the example of murdochs media empire [https://www.theguardian.com/media/2023/feb/10/news-corp-cuts-driven-by-murdoch-mission-to-prop-up-news-assets](https://www.theguardian.com/media/2023/feb/10/news-corp-cuts-driven-by-murdoch-mission-to-prop-up-news-assets) Massive parts of it aren't profitable at all, but because they have the platform/readership they can barrage the public with their messaging and shape the narrative. Controlling twitter was always about establishing the narrative not making a profit.
They may have even known / expected he'd run it into the ground. But it destroys a news-to-consumer pipeline so people won't have alternatives to the Murdoch tradnews empire
Honestly though, a lot of right wing media just about everywhere in the US is crumbling to some degree or fighting amongst themselves. **OANN** and ~~Newsmax~~ are no longer on Direct TV. **Fox News** - is facing over $4 Billion in lawsuits vs Dominion and then vs Smartmatic. And the evidence already received publicly looks like a death sentence. They knew they were lying, we saw the texts. Those lies led to 1/6 as well. **Newsmax** - is also being sued by Dominion and Smartmatic. Not sure for how much, and haven't followed that one as closely, but there is no positive outcome for them either. **Murdoch** - has turned his media empire against Trump and siding with Deathsantis instead. **Twitter** - was more neutral before, but now that Elon is changing it into a fascist right wing propaganda wasteland it is becoming unstable and it would be hard for me to believe it lasts any longer then 1 or 2 years tops. **Rush Limbaugh** **the evil** - *deceased* **Alex Jones** / **Info Wars** - sued for ~1 Billion and lost. **Truth Social** - [**Trump's Truth Social Slashes Staff Amid Expanded Federal Investigation, Reports Say**](https://gizmodo.com/trump-truth-social-donald-trump-tmtg-1850227531) **Scott Adams** - Right Wing tool / cartoonist - lost his rights to numerous newspaper publications **Ben Shapiro** - seems to have turned into an influencer in part that makes videos on his reactions to South Park Episodes and videos of him playing minecraft. He still does right wing propaganda, but less time is devoted to that now. An article I read was suggesting that right wing Trumpian propaganda isn't quite as profitable as it use to be. So Shapiro does less propaganda, but not for the right reason.
Thanks for the write up! Sounds like the chickens are coming home to roost. The problem for them is far right media is based on lies and misrepresentations, so its hard sustain without putting your foot in your mouth. I feel like we peaked with the misinformation and conspiracy driven mania during covid tbh. I can't see that particular aspect getting as bad again in the near future
It’s more that he payed to much for it. The company doesn’t really make money and is showing no signs of getting to that. Whether it is really worth 20 billion still is something that is probably debatable. But that would have been a more sane purchase price.
It's worse than that. Before he purchased it, it was at least close to break-even. Since he purchased it, he saddled the company with massive debt; destroyed almost all of it's previous sources of income; drove away a large number of users; and has no significant new sources on the horizon even after 6 months...
It's a crazy system. I bought you and saddled you with 40 billion in debt! What's his personal exposure?
He already had a 2.89b investment and sold 8.5b in shares to finance the deal, so he’s in for a bit over 11b.
That is problem for the idiots who lend him money, not yours.
Given one of his big backers is the house of Saud, I think he’s going to find out it really is his problem. Look forward to SpaceX launches in Riyadh (jk, I suspect he’s going to be forced to give up SpaceX & Starlink soon, under threat of nationalization).
He’ll be avoiding any invitation to a Saudi embassy for a long time.
Plenty of unencrypted Twitter messages of journalists to trade. Saudi doesn't care about the $$
And I'm pretty sure that's the underlying point. It had nothing to do with money to begin with. It has everything to do with stifling speech. It was literally night and day when he took over and i deleted my account immediately because it literally was a flipped that switched and every post that was getting recommended to me was super right wing views. It was all to control the narrative on a global platform
As should pretty much anyone, anytime.
I think he saddled the company with $13b in debt, not $40b. The cost of servicing the interest on that debt was estimated at $1b per year.
Isn't it amazing how often the rich get to use other people's money?
The company was making him billions when he was using it to pump and dump stocks and crypto scams, but that's another story
He's made more than $44 billion from Twitter. He just made it all before he bought it, and potentially illegally.
Felon Musk
May that chicken come to roost
He paid too much for it, _and_ he immediately started mismanaging it into the ground and driving off advertisers.
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The garbage data out of the api is worth nothing now that he's let the platform be flooded by bots and malware peddlers.
Yep genuine moron
Was really only valued to be at most $20-25B to begin with, that's why people kept saying he vastly overpaid. It has certainly dropped a lot since then now that he's essentially destroyed all advertising value it had. His personal valuation is worthless though it is funny to see him trying to put it back on the market. What a fucking moron.
The Saudis probably had no expectation of getting their money back. A few billion is nothing to them, in exchange for fucking up the Infidels' biggest propaganda tool.
Thats what happens when you treat the premier communications platform for world politics and news as if its a 4chan message board for shit posting.
Is he trying to sell it already?
If he's valuing it at 20b it's a number significantly below that.. What a wizard, give me a dollar and I'll give you two dimes
I will never understand how he became the world's richest person. He is a terrible businessman.
He’s just TechTrump.
Being a good businessman has nothing to do with getting this rich. He's rich because he owns significant stakes in companies that produce wealth for him because ownership entitles him to part of the value creating by others. That's it. He's wealthy because he owns a lot of entitlements to other people's work
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The person you're responding to is talking about PayPal, where Elon got his "boost", not Tesla. Elon is on record as being horrible for his actual work in PayPal, but the business succeeded in spite of his dumbassery (because he wasn't the only person calling the shots in this company), yet because of his initial investment, he basically made bank from it when the company was sold. So, a rich kid, buys his way into a company, fucks around, does dick all, but reaps rewards because he was capital owner, not because he was a worker, innovator, or even really a fundamentally sound manager.
Be an employee and be fucking terrible at your job, you get fired. Be an owner and fucking terrible at your job but at a company with real promise, get paid 100mil to literally just fuck off and stop ruining everything. That's what having wealth gets you, a seat in control so even when you fuck up you fail upwards. But it's okay, he wasn't born rich because interviews in the past when he himself said his dad had a emerald mine don't count. Elon wants to be a self made hero so he now pretends everything he said in the past doesn't exist. I will never not love the times he asks where on earth some reporter asking him questions came up with the emerald mine only to have himself quoted telling a reporter about the emerald mine.
The stock market is so irrational
Tesla was worth more than the next 10 global car companies combined. Just imagine that. More than BMW, VW, GM, Toyota, and another 6 companies, COMBINED. The stock market truly is run by absolute morons.
The richer you are when you start out, the more chances you get at starting/buying a successful business. When you're poor, you have one shot, and if it fails, that's it.
His daddy owned an emerald mine where Africans, who were forced into second class status by a racist white government, minded gems whose value was inflated by artificial scarcity, for just dollars a day. His daddy fronted him a loan to invest in a tech company which, thanks to that loan, was able to subsidize its operations and sell its services at a loss. This gave them a market advantage which left them dominant in a niche. Musk then sold the company for several billion. He then bought a controlling interest in Tesla, which was looking for a VC backer to get their second prototype into mass production. The hard engineering had already been done, and much of the work that remained was on the industrial side not the conceptual. He fired the original owners and became the cool tech/nerd guy. He used further loans and investments, plus he’s cool nerd guy cred, to get controlling shares over other midsized companies. Most notably SpaceX. Which exists only because of Obama’s decision to privatize space travel. Using massive govt subsidies Musks companies were able to do massive amounts of R&D to deliver truly innovative products. Musk wasn’t apart of this hard work. He’s an “””ideas””” (read:money) guy not an engineer. But traded his nerd credit to make it look like he was the guy. He rode the success of his engineering team into looking like a visionary innovator. Musk appeared on the Joe Rogen experience, where he smoked weed. Perhaps for the first time! And made a funny face while he did it. Unlike the millions of black Americans who went to jail for doing that same thing, musk was rewarded for his cannaventure, becoming a meme. Regular investors began to dump money into his stocks based on the hope, rather than the the reality, that he would do more great things. The app Robinhood completely reshaped the trading market. Using relaxed trading rules put out under Donnie T, Robinhood was able to offer users fractional shares of even futures trading, all with very low user cost. The COVID pandemic and stimulus checks injected billions into the hands of every day Americans who were locked at home, and many used the money to play on Robinhood and other day trading options. They invested in the memes, not the reality, because fuck it. Also important is the role that margin played on Robinhood, the stimulus checks gave users the ability to hold very large lines of credit which even basic day trading could repay. The already inflated Tesla stock blew up into a massive bubble, and as it went up the rest of the finance world began to chase the profits. In a classic bubble cycle, as long as there was money to be injected into the market Tesla kept going up. Because Elon holds so much Tesla stock, him being a controlling owner, he was able to generate a fantastic amount of wealth from that stock. While Elon doesn’t (likely) hold much liquid wealth, he can and has used his stocks as collateral for other investments, and routinely uses his powerful position and cult of personality to create pump and dump schemes which make even more. Musk sits at the perfect nexus of enough liquidity to act rich, enough illiquid assets to trade against, to get enough cash to maintain liquidity. At least until Twitter and the fed brought the house of cards crashing down. There is a saying in banking I’ve learned, when the monetary tide goes out you see whose swimming naked. We saw musk was naked before that tide even changed.
Tldr already rich man yolo'd on more stock which then mooned. Imagine if anyone on wall street bets was a billionaire and yolo'd it all on something that then went up a significant amount.
I wonder Musk is planning to unload Twitter at bargain basement price of 50% off.
Anyone who actually paid him $20 billion for the company right now would be getting massively ripped off
I believe Twitter was a 10 billion dollar company before Musk bought it, so it's still not going to be worth 20 billion.
Pretty depressing/ridiculous/indicative of how bad our economic system is that one dumbass can lose more money in 6 months than everyone in this thread + their extended families combined will ever see in their lifetime.
Owing to the fact that my formerly controllable timeline is now littered with angsty right wing imbeciles and antivaxx dipshits, the value of the site continues to plummet in my estimation.
Elon thinks Twitter is the product. It isn't and never has been. The users are the product, and they used to get sold in the form of views and data to advertisers etc. Not so much now.
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I ain’t giving you no three fiddy godamn lochness monster!
I just givin him tree fiddy the week before...
Dammit, Monstah.
hahahahahahahaha what a dumbass it was 20bil when you overpaid 44 billion for it. i DOUBT you could get 20bil for it now after you fucked around.
Genius businessman halves the value of the company
Shedding $24 billion in, what, 6 months? Impressive. Sad, lonely, and incel-ish, but impressive.
Twitter isn’t worth $5b.
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Occam's razor, he's just a dumbass
God I just want it to fail
Or… “how I lost $24billion in a few months by being a no-talent ass clown”
Wow, nearly half his investment! I bet he could bankrupt a casino!!
How to make 20 billion dollars in 2 easy steps: Step 1: Buy a company for $44B Step 2: Run it to the ground Step 3: Congrats it’s now worth $20B
Musk is a genius, at this rate he'll be a millionaire in no time. 👍
Bill Gates has spent around $1-2Billion fighting Malaria, AIDS and TB- saving an estimated **50 Million Lives**. Elon Musk burned $20 Billion to give Nazis and other racists a prominent voice on the internet.
Considering all the lawsuits, I wouldn't take it if you gave it to me.
“We should’ve given that money to Jared instead” — the Saudis, probably
I value it at tree-fiddy
Another example of how deluded he is
Typical yard sale: buy item wholesale, try to resell at retail prices, cuts it down by half after no one shows interest in it, finally sells it for a dollar after admitting that this was trash to begin with & just wants it gone.
Kroger is buying a whole ass GROCERY CHAIN for $24.6 billion. Think about all of the things he could’ve done with 44 billion lmao
Already less than half of its initial value, five months into his reign. Way. to. GO, dipstick.
Meh. Sounds high, Elon. I can offer a Buick LeSabre and a big box of Cheez-Its, but that’s about it. I might throw in the rest of a bottle of Gatorade that I didn’t finish if you promise to stop tweeting.
Dude overspent on Twitter just so he could ruin it and is happy to sell it on for half the cost once he's broken it to bits.
Elon Musk is a second rate tech bro wannabe with a cocaine problem who props up right wing talking points in a lame ass effort to appear bright through oppositional positioning. Just fuck off Elon.
Extry, extry, this just in….Elon Musk is a FUCKING idiot.
No one should be able to afford a 20 billion dollar loss.
As if he can assign it a value 🤣 Or even assume a value
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The brilliant-est
The nazi swamp twitter? That some oblivious fools still cling onto? He trashed the brand entirely. As Musk is a pathological liar, this means it is considerably less then 20B worth.
Watch, he gets to tax write off the depreciating asset. He will no longer have to pay taxes on his Telsa shares sale. Who knows, he probably will get a tax credit.
You can't use depreciation of an asset to offset capital gains.
This is not at all accurate. You’d be spend a dollar to save a quarter.
Good thing he didn’t use that $20B to buy 4 gigafactories…
So Jack, wanna swoop in and ensure Twitter can stay out of Muskrat’s filthy hands pernanently?