B-but Elon told me advertisers were returning!
Comment on X drops headlines from articles, as new report details its bleeding ad revenue
EyesEyesBaby@lemmy.world 8 months ago
Ad revenue in August was down 60% year over year, the report said.
Good
1bluepixel@lemmy.world 8 months ago
slaacaa@lemmy.world 8 months ago
Holy shit, that’s brutal. That company is dead
gravitas_deficiency@sh.itjust.works 8 months ago
I’ve seen estimates that put the loss of value of the company itself since Elon took over is something like 90%. If that’s anywhere even close to accurate… impressive. Most impressive.
joenforcer@midwest.social 8 months ago
Since Twitter is now private, we’ll never know the real numbers, but the paper value of the Twitter brand itself being cast aside is a huge non-monetary loss.
gravitas_deficiency@sh.itjust.works 8 months ago
Right?? Like, it was one of the most known brands in the world. You don’t throw that away if making money is your goal.
Tyfud@lemmy.one 8 months ago
That’s not entirely true. There is a company that still holds its Twitter shares even after it went private. They are the ones that everyone points to when looking for real estimates of how much value the company has lost. Every quarter or so they release their estimate of their shares in Twitter, and based on the total shares they own, we can get a good idea of the total company valuation.
uis@lemmy.world 8 months ago
Twitter always was private and profit-driven.
uis@lemmy.world 8 months ago
They enshittified themselve to death
Hiccup@lemmy.dbzer0.com 8 months ago
They’ve gone and Dugg themselves a whole that will never come out of while Musk is there.