Technology

X'ed the bird... Use biometrics and share it.. What can go wrong

OK here's some simple calculations.

Twitter was worth around $22 billion, when Elon bought it at $44 billion, but to help pay for it, half of that is borrowed by Twitter to pay for itself! Yes you can do that.😋

So now the company is worth about $22 bil less, because it has new debt.

In my book 22-22 = 0 = zero = nul = naught = zip

On top of that, the original value has declined dramatically, with about 60% decline in revenue that we know of. So the internal value is actually way below 0, but a limited company cannot be worth less than 0, so it remains 0.

The company is insolvent, which means it's basically bankrupt, except it's not declared yet. The only possible slight value it may have left, is for tax deductions on the losses.

Social platforms are only worth what they are on paper. Elon is pushing ads and premiums more and more, but it's 100% not enough to run a service like that. How much longer can this go on?

Unlike others, I saw at least $20B of potential in Twitter. Advertisement and media alignment was basically Twitter's P0, and why they had a bloated staff that managed corporate sales and media accounts. TV execs around the world wanted a slice of Twitter's analytics to measure what people interacted with, and we're willing to pay for it. It wasn't $44B worth, but they had a "solved" solution for scalable social networks, and whoever could scale enough to be irresistible to advertisers would have come close to justifying that valuation over time.

Knowing a few people that worked there, it justified it's reputation a bit before Musk came in. The tech side was fairly limited compared to the sales/accounts side, and there were a lot of people doing very little outside of making sure that an advertiser was happy. A smart CEO would have scaled that side of the business without scaling sales staff, but Musk did the exact opposite - and utterly gutted the thing that made any money, and made it about himself...

He's obviously a fucking idiot, but I consider Twitter to be a vanity project above anything else. He leveraged his debt against the company, ran it to be barebones, and now it'll just "exist" until he can sell it when he's bored.

As a software engineer, the one company I really wanted to work for was Twitter. It's sad to see it killed, but they also kinda deserved it too. At least they got a payout!

On one hand, I can’t wait for his empire to crumble and on another hand, I don’t want to see this many Elon/X/Tesla links about something so seemingly useless.

I mean, it was never worth what he paid for it. But, he's definitely devalued it by a lot.

That is 4 billion $ too much

I swear this is playing out like Brewster's Millions more and more each day

At this point I'm starting to think he wanted to topple Twitter. Nobody is this careless.

I have a dumb conspiracy that Elon wants to be US president like any Lex Luthor like person, but since he can't he is ruining things extreme republicans hate so he can gain favor and make his way up as high as he can to reach religious cult status. 😆

What's weird is if you look at users on places like Newsmax and Oann or other extremist forums they seem to happy seeing Tesla and Twitter going down

What company?