Comment on Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price

apfelwoiSchoppen@lemmy.world ⁨1⁩ ⁨day⁩ ago

• hushable@lemmy.world ⁨1⁩ ⁨day⁩ ago

  they still own the twitter trademark, that might be their biggest asset

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  • KingThrillgore@lemmy.ml ⁨1⁩ ⁨day⁩ ago

    Which has been crashed and burned to a fraction of its value.

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• jonne@infosec.pub ⁨1⁩ ⁨day⁩ ago

  If someone were to buy it, ban the Nazis and get advertisers to come back it’s still salvageable, I guess. The longer Musk owns it, the bigger the chance is that it’ll become the next MySpace.

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  • EnderMB@lemmy.world ⁨1⁩ ⁨day⁩ ago

    At least the MySpace guy was able to run a fun site, cash out before social media became crazy, and spend the rest of his life having fun with that money.

    Trump will lose, and Musk will be holding on to a useless site that serves nothing. He’ll probably sell for a fraction of what he paid (not that it was his money in the first place), but by that point it’ll be too late. Twitter will be long dead.

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    • Kalysta@lemm.ee ⁨19⁩ ⁨hours⁩ ago

      I doubt the saudis will be very happy if Musk doesn’t repay them their investment. I’m surprised they haven’t threatened him into stepping down and handing their investment to someone who can properly manage a social media platform already

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      • EnderMB@lemmy.world ⁨18⁩ ⁨hours⁩ ago

        That’ll probably be what happens if Trump loses. Musk didn’t spend “his” money so it’s no loss, and many from the Middle East have wanted control of Twitter ever since the Arab Spring.

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  • apfelwoiSchoppen@lemmy.world ⁨1⁩ ⁨day⁩ ago

    I think MySpace is a more likely scenario that the former already.

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• celsiustimeline@lemmy.dbzer0.com ⁨1⁩ ⁨day⁩ ago

  It’s only worth as much as anyone’s willing to pay for it. Take a look at any of these tech start ups that do something very insignificant slightly differently than their competitor. VALUATION 100 BILLION DOLLARS!

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• Artyom@lemm.ee ⁨1⁩ ⁨day⁩ ago

  This is the stock market, the value is set by what investors think the value could be. Mostly, they’re probably assuming people would come back if he sold it. Literally everyone knows the name Twitter.

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  • phdepressed@sh.itjust.works ⁨1⁩ ⁨day⁩ ago

    This actually isn’t the stock market, Twitter isn’t publicly traded since being bought.

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    • skyspydude1@lemmy.world ⁨1⁩ ⁨day⁩ ago

      Just because it’s not publicly traded, doesn’t mean that there isn’t stock nor that there’s no market. Usually, you can technically still buy/sell the stock, just not as a random member of the public on a public stock exchange like the NYSE or FTSE.

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      • NotMyOldRedditName@lemmy.world ⁨1⁩ ⁨day⁩ ago

        There’s usually defined periods for sales as well. Gives employees and other stock holders a way to cash out and get new investors in.

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  • apfelwoiSchoppen@lemmy.world ⁨1⁩ ⁨day⁩ ago

    I understand the basics. I still find it difficult to grasp why it is worth 9 billion.

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• sqibkw@lemmy.world ⁨1⁩ ⁨day⁩ ago

  I wouldn’t be surprised if part of this remaining value is because the Japanese internet still heavily relies on it as a platform, even if the west has begun moving elsewhere.

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• Kraven_the_Hunter@lemmy.dbzer0.com ⁨1⁩ ⁨day⁩ ago

  I was going to say that they could have stopped the headline at “quarter” as far as I’m concerned.

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