The time of the Mastadon is at hand.
this post was submitted on 20 Aug 2023
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He can still turn it into a porn app
Make it a hook up site, might as well. He can do financial transactions like he wanted to.
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Space Karen destroys Twitter.
Oh no! Anyway.
And somehow it’ll be the “woke mind virus’s” fault. There will be no self reflection at all.
He accelerated it. If he had just left things alone, he’d be in a better place than he is today.
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.
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.
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I wouldn't be surprised this is him urging his cult to buy monthly subscriptions. If we see higher tier subscription be introduced one of these days, that would be the reason for this fear mongering. That said, it's awesome that he's getting a reality check. You can be surrounded by as many yes-men as you want but people en masse don't care and even if they do, they love seeing rich people humbled. No one misses a good shitstorm.
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Stage 5: Acceptance
Regular effing Nostradamus
Musk tried to fix something that was not broken, and it almost always is a bad idea.
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It almost like he isn’t actually a genius but narcissistic grifter who can move money around.
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🍌We're all trying to find the guy who did this
Man who bet billions that Twitter would fail is upset that it hasn't already.
I wonder how much money the govt will give him now that he lost 44 bil... ya just know that is what will happen
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