this post was submitted on 17 Nov 2023
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IBM, a major advertiser on X, has pulled its spending from the social media platform, whose employees are grappling with what to tell its other advertisers, according to internal messages.

To be clear: Musk endorsed a tweet which used a false antisemitic conspiracy theory to tell people why "Hitler was right"

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[–] KingThrillgore@lemmy.ml 43 points 1 year ago (2 children)

Given how many discounts X is giving advertisers, holy shit this dude spent 2 dollars to make 1

[–] glacier@lemmy.blahaj.zone 28 points 1 year ago (2 children)

The point is to influence the election next year, not to make money

[–] linearchaos@lemmy.world 1 points 1 year ago

Influencing the election will make all the money.

[–] TheBlue22@lemmy.blahaj.zone 5 points 1 year ago (1 children)

He spent 2 dollars to lose 100 more like

[–] linearchaos@lemmy.world 1 points 1 year ago (1 children)

He's sitting on a big enough pile not to miss it. I wonder how much of this is crazy and how much is political hedging.

[–] localhost443@discuss.tchncs.de 1 points 1 year ago (1 children)

I'd be surprised if he could liquidate more than 40bln today, look at Tesla stocks P/E, its a house of paper cards. Spacex is always reportedly on the edge of bankruptcy. Last evaluation I saw of twitter value from its lenders was around 17bln, subtract its debts, that's about 4bln.

He really has bet the house, it now a question of how long he can keep going on Tesla stock backed loans and if the stock price holds.

[–] linearchaos@lemmy.world 2 points 1 year ago

Forbes still has him at 241B. I wish he'd run out faster to get his ass out of the news.