- cross-posted to:
- technology@beehaw.org
- cross-posted to:
- technology@beehaw.org
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Oh no. Anyway.
Lol I hate him as much as you guys do but I think he’ll pull it off. Just like Tesla, spacex, solar city , he will make twitter work
Or let it die for the lulz
Yea he can do that too. He did say in one of the interviews that he doesnt care about the money.
Not many people are going to sign up to do their financial transactions through a social media site run by a narcissistic dipshit. And that is his ultimate goal with this x everything app nonsense. Zero chance it becomes, as he predicted, the biggest financial institution in the world.
All he had to do to make twitter work was… nothing.
Not many people are going to sign up to do their financial transactions through a social media site run by a narcissistic dipshit
Lol you’re underestimating how dumb most people are
LOL!
Somebody please do not tell him of the Fediverse. Let him believe that there is “no great social networks right now”.
Wait, wait! Musk, go to Reddit! Your admirer Spez would love to have you on board. You can pump your billions into Reddit, give Spez a comfy position where he won’t have to worry about money again and just fuck that place up too!
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Stage 5: Acceptance
In May Fidelity wrote down the value of its stake in the company then still known as Twitter, giving it a value of about $15 billion – or just a third of what Musk paid, The Wall Street Journal Reported.
I think even that was not realistic, and back in May things were not as bad yet as they are now at “The thing formerly known as Twitter”. I doubt anyone would buy it at even half that now. Musk added a debt of $20 billion, that’s about what it was worth at the time Musk bought it.
With that debt, the company became basically worth Zero. Even at the estimate when Musk bought it.
If the $20 billion debt was somehow removed, it would still be worth less than $10 billion. Meaning that its current actual worth is probably below negative $10 billion! Meaning the only value is the tax value of the deficit. And no creditors get paid. It’s basically already bankrupt, unless someone pumps in more money, and I’m not seeing that happening with a company as bad as “The thing formerly known as Twitter”.
Seems like the only way forward now, is bankruptcy and maybe reconstruction after selling the company without the debt for peanuts.
Most of the value was probably with the brand itself. Which he then tossed away. Genius.
That was a truly insane decision. Of all the annoying and idiotic things he’s said, “Soon we shall bid adieu to the twitter brand and, gradually, all the birds” is way up there.
Yes, and even the name is probably almost worthless now, he has massacred everything including the original name. It’s to bad, because the original concept was OK, and could probably have survived without the insanity Musk brought.
I wonder what term will replace tweet… it worked so well. Oh I tweeted this last night…
People aren’t going to say I X’d that last night. Sure you can say I posted something on X or I dunno, but I don’t think they’ll ever get something as good as tweeting on twitter.
I agree, you can’t create something similar easily, it’s like to “Google it”. Nobody would dream to say “Bing it” or “Yahoo it”. If they had achieved dominance instead of Google we might, but you can’t just change such things.
Even if X should become somewhat popular, to X it doesn’t really work.
So even with a new service as popular as Twitter used to be, it’s unlikely to replace the term “to tweet”. It could simply go back to “to message” IDK. That would work disregarding of platform name, but would lack the brilliance of tweeting on Twitter.
Was just thinking on this more and had a laugh at someone saying this out loud
Them: “Did you see my X last night, i ripped them a new one!”
Friend: “You did what to your ex last night? Does your wife know!?”That’s hilarious.
But I’m sure Musk thought that through before implementing the new name for the thing formerly known as twitter. /s
Once it fails then someone will buy it cheap and rename it twitter.
Maybe, or maybe it’ll be another Bebo level disaster.
…I guess it was indeed a disaster because I can’t remember even hearing that name before.
https://en.wikipedia.org/wiki/Bebo
originally operated from 2005 until its bankruptcy in 2013
It was announced in January 2021 that it would be returning as a new social media site the month after. By May 2022, it had once again been shut down, without having ever left beta testing.
Bingo.
And since won’t get back all the staff he dismissed; they’re going to have to just slap the Twitter brand on a Mastodon instance.
If there’s anything left to buy aside from tacky merch shirts. I’m sure the creditors will pick it clean and auction off the best bits to the highest bidder.
Can’t someone else just make Twitter now tho?
Facebook tried with Threads but overcoming ecosystem inertia is hard.
Can we start a gofundme to persuade him to take over Facebook?
In the same way that car fails when you deliberately drive it 100mph into a brick wall.
So you’ve got experience with Tesla’s autopilot function…
Nailed it.
Uh, no. Autopilot was not enabled during that crash.
It disabled itself 0.25s before impact
Sure it’s his money but does anyone else feel legitimately frustrated at all the good that this money could have done?
Rich dudes have always had vanity projects, but there is no grand concert hall or library or university to come out of this. Just a ruined company with millions of wasted hours of effort. For nothing.
Definitely prefer the vanity projects of the past. Libraries, city halls etc
Yeah. X makes various things named “Rockafeller” seem downright “not a dumpster fire” in contrast.
millions of wasted hours of effort. For nothing.
aah, Social Media in a nutshell.
You make a great point. Let’s spend hours and hours discussing it to death here. ;)
The horrific opportunity cost inherent to having a billionaire class.
Guillotine noises intensify
The nice thing about our economic system is that value is rarely completely destroyed, the money he paid for Twitter didn’t cease to exist, it went to former Twitter shareholders.
They may be using it in more productive ways than he ever would.
broken window fallacy
Consider whether Twitter was stifling some other growth. If you buy and burn down an advertising billboard, letting light into a market garden–perhaps that is beneficial.
Just to add a little explanation to those who don’t get it: the man-hours spent by people working for then Twitter now X as well as resources used, uktimatelly for producing no wealth, could’ve instead been spent for something that did produce wealth.
Same amount of input money either way, but one produces wealth (in the economic sense of the word rather than merelly monetary) and the other just wastes manpower and resources.
They may be using it in more productive ways than he ever would.
They use it to reinvest and hoard. Because that’s what the investor class does, which is why they’re useless.
Could have just bought land in Kentucky and sat on it. Made a nature preserve. Give the beavers and deer a place to chill for a century or more. Pretty lazy way to do charity but it still would have been better.
The money isn’t gone, it’s just changed hands
It doesn’t work that way. Almost all of the money in the world is debt owed to someone else. Very few things are bought with cash. It is really credit on credit on credit on credit. And all of that depends on trust. My company gets product from your company today with the promise to pay in a month, your company does the same…
When events like the Twitter buyout and burn happen it weakens trust. Which weakens credit. Which means the virtual money is gone.
Hyperloop, boring tunnels, sending cars to space, etc
Stop me when you’ve heard enough to believe this guy has obvious disdain for all of us.
Redditors not posting about musk for 5 hours challenge (impossible)
Do you know what website you’re on?
Yeah reddit v2 apparently the musk obsessed fanboys migrated here if elon speaks I must be informed about it
Or, you know, he’s the richest man in the world running a social media site extremely popular with governments and the media and ignoring that kind of thing might be a bad idea.
Should we stop our “obsession” with other political topics? And this is a political topic due to the aforementioned governmental involvement, Twitter’s effect on world politics, and Elon’s own attempts to control U.S. politics.
Is this sub called US politics? My bad
Firstly, again, this is not Reddit. We don’t have subs here, we have communities.
Second, who are you to gatekeep? I don’t see an M next to your username.
This community is called technology, not politics.
Implying technology is apolitical? I sincerely beg to differ.
Properly categorizing content = gatekeeping lmao, even if that was how the word works then by your logic not letting me call it sub is also gatekeeping. I understand you hearx a new word today but google it before using it, musk fanboys are something else
I didn’t stop you from calling it a sub, you just keep calling this place Reddit and using Reddit terms and you’re just plainly wrong no matter how rude you are to me.
Cry harder
lol musk fanboy triggered
No, and I’m not sure how that would work. You’re whining about musk being criticized and apparently think this is reddit so I guess being confusing is your thing
Keep going he will notice you someday
Lol you think he gives his simps free blue check marks or something?
Thats the best part, you do it for free
You’re the one sucking him off here.
“Oh God some strangers are picking on Daddy, time for me to shine.”
the guy didn’t even want twitter. the whole thing is depressing.
genuinely convinced he may have intentionally destroyed twitter to make the next presidential campaign operate on a different field.
sounds crazy but without twitter or reddit, how do “the youth” communicate? tiktok? insta?
I’d say that’s stupid, but so is every other idea he comes up with for it so who knows.
Big parts of the youth did not use twitter. Twitter had at its peak about 500mio active users. Instagram has 2.4 billion, tiktok 1 billion, snapchat 750mio. The relevancy of twitter is highly skewed, because the media used it a lot.
Wow crazy that so many people use those social media platforms. I have never used any of them.
I mainly use Snapchat just to keep the pointless streaks going. Never seen an ad in Snapchat for years.
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Would that have been worth $44b?
It wasn’t worth that much when he bought it. At most, it was worth half that. One of the many reasons why Musk is a fucking moron.
It doesn’t help making an offer that was too high just so he could make a silly “420” joke.
There’s no reason to speculate his motives. It’s obvious he didn’t want to buy Twitter when he was forced by courts to buy it. He was being an idiot trying to manipulate the stock price. I know it’s hard to believe a multi-billionaire can be an idiot, but it happened. There’s no 4d chess move. Rich people are fallible as everyone else.
Regular effing Nostradamus
