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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

Tilgare@lemmy.world ⁨1⁩ ⁨year⁩ ago

For that to be true, it would have needed to be worth $44B in the first place, which it absolutely was not. But there is no doubt that his mismanagement has tanked the value of the investment. He’s a narcissist so never see it that way, but the whole rest of the world knows that.

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Kage520@lemmy.world ⁨1⁩ ⁨year⁩ ago
As a business? Probably not worth that valuation. As a propaganda machine to be able to influence a decent percentage of the population? I think it was.

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- ozymandias117@lemmy.world ⁨1⁩ ⁨year⁩ ago
  Only because larger media outlets use it as “news”
  
  Twitter has always been one of the smaller “social media” giants
  
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SocialMediaRefugee@lemmy.world ⁨1⁩ ⁨year⁩ ago
I think he realized it wasn’t worth what they claimed but he couldn’t back out of the deal.

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- niisyth@lemmy.ca ⁨1⁩ ⁨year⁩ ago
  AFAIK he had to be sued into buying it once he tried to weasel out of the deal. So it wasn’t for lack of trying definitely 😂😂😂
  
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  - blady_blah@lemmy.world ⁨1⁩ ⁨year⁩ ago
    There was a clause in the contract that said if he backed out he would have to pay $1 billion. Who knew that would actually have saved him way more to exercise that clause.
    
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