Comment on According to Elon Musk’s own math, the company formerly known as Twitter has lost 90% of its value and could be worth just $4 billion

spittingimage@lemmy.world ⁨1⁩ ⁨year⁩ ago

• DLSchichtl@lemmy.world ⁨1⁩ ⁨year⁩ ago

  I mean, we were all looking. We’ve been enjoying mountains of popcorn to twitters slow collapse.

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• MelodiousFunk@kbin.social ⁨1⁩ ⁨year⁩ ago

  I never would have guessed that Musk is a billion times worse than Lex Luthor, but the math is right there. Terrible.

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  • TheGreatFox@lemm.ee ⁨1⁩ ⁨year⁩ ago

    It’s an older meme, but it checks out.

    Source (spoiler'd because image)

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  • octoperson@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

    Lex Luthor bought a company for 44 dollars then lost 40?

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    • shiro@artemis.camp ⁨1⁩ ⁨year⁩ ago

      Thanks for making my day!!

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• gregorum@lemm.ee ⁨1⁩ ⁨year⁩ ago

  Terrible for him. Great for everyone else that that 40 billion is now in the hands of other people. 

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  • NoneOfUrBusiness@kbin.social ⁨1⁩ ⁨year⁩ ago

    That's not really how that works. He just reduced the value of the site. He nuked value out of existence.

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    • Fraylor@lemm.ee ⁨1⁩ ⁨year⁩ ago

      I mean he did spend 44 billion prior to said nuking. Site isn’t worth as much now sure, but the volume of currency still traveled into the hands of others.

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      • NoneOfUrBusiness@kbin.social ⁨1⁩ ⁨year⁩ ago

        Good point actually.

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    • elvith@feddit.de ⁨1⁩ ⁨year⁩ ago

      But he hasn’t realized his losses yet - HODL!

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    • chicken@lemmy.dbzer0.com ⁨1⁩ ⁨year⁩ ago

      Twitter having overwhelming dominance may have had value to shareholders, but IMO that is at the expense of everyone else. Not having to use Twitter is valuable.

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  • superkret@feddit.de ⁨1⁩ ⁨year⁩ ago

    Terrible for him

    Not really, and that’s the obscene part. Literally absolutely nothing changed about his standard of living by losing $40B.
    He could have solved world hunger for years with that money, and wouldn’t even have had to give anything up for it.

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  • qaz@lemmy.world ⁨1⁩ ⁨year⁩ ago

    40 billion going into the bank accounts of investors that previously owned Twitter stock certainly is a redistribution of wealth, but I doubt it’s the kind you’re referring to.

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  • spittingimage@lemmy.world ⁨1⁩ ⁨year⁩ ago

    Depends what they do with it, I guess.

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• SpaceCowboy@lemmy.ca ⁨1⁩ ⁨year⁩ ago

  He could have ended world hunger multiple times. But instead he bought a social media site so he could be popular with the Nazi crowd.

  On the bright side, whenever anyone fucks things up now, they can think “well at least at least I didn’t fuck things up as badly as Elon Musk.”

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• elbarto777@lemmy.world ⁨1⁩ ⁨year⁩ ago

  40,000 millions. Most people could live without working ever again with one million dollars (provided they managed them wisely.)

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  • StinkyRedMan@lemmy.world ⁨1⁩ ⁨year⁩ ago

    While one million is a pretty good amount of cash, you’re delusional if you thinks it’s a “never working again” amount of money. I had this talk pretty recently with a friend of mine, if he used it to finish paying his house (150k) at 24k a year it would not even last 40 years.

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    • mosiacmango@lemm.ee ⁨1⁩ ⁨year⁩ ago

      At a 4% return, a million nets you 4000/month without affecting the principle. 48k/yr. Even post taxes, that’s around 40k.

      Plently of places in the US you can live for 40k/yr. Not luxury, but if youre fine with rural to semi rural, you can do well on interest alone.

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    • elbarto777@lemmy.world ⁨1⁩ ⁨year⁩ ago

      You’re assuming that everyone living today will live for more than 40 years. Ageist much? (I’m kidding.)

      No, I’m not delusional. I’m not saying “never work again and live in luxury.” I’ll gladly live in a studio apartment for a few years while I put some of that money work for me (instead of me working.) It’s doable.

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  • Gaspar@lemmy.dbzer0.com ⁨1⁩ ⁨year⁩ ago

    Last time I looked into it, it was closer to 4 million to “never work again” if you were in your mid-30s. Nowadays, even that figure is probably not enough. Your point still stands, however.

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    • elbarto777@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Let’s run an experiment. Someone give me 1 million dollars, post-taxes, and I’ll try my best to never work again. Any takers?

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