Elon is probably one of the only people in the world to whom this is not too worrisome.
Comment on X may lose up to $75 mln by year-end on advertiser exodus - NYT
JeeBaiChow@lemmy.world 1 year ago
…and unless you’re Elon, this is a problem why?
GiddyGap@lemm.ee 1 year ago
cheese_greater@lemmy.world 1 year ago
Why is it a problem for Elon? Has he ever explicitly conceded he needs
Xto be profitable? Isn’t it preferable to his investors to simply neuter it?Viking_Hippie@lemmy.world 1 year ago
He’s said that he WANTS it to be profitable and as a clinical narcissist billionaire, he doesn’t cope well with not getting what he wants.
On a more practical level, the cesspit it’s become has increased scrutiny on his other companies and the main one, Tesla, is decidedly NOT weathering that well.
All in all, he’s lost over a third, maybe even as much as HALF of his still absurdly huge dragon’s hoard of wealth since he took over Twitter.
cheese_greater@lemmy.world 1 year ago
There’s something fishy going on in my view. Its only conjecture as of yet and I don’t want to push it too much but none of this computes, so to speak
Viking_Hippie@lemmy.world 1 year ago
I think you’re overthinking it tbh. He’s not some evil supergenius, he’s just an extreme lucky idiot and bigot who’s finally getting a taste of the finding out after fucking around for most of his life…
Evil, yes, but in no way a mastermind. Hardly even a mind.
doggle@lemmy.dbzer0.com 1 year ago
Much of his wealth is held in shares of his publicly traded companies. If investors lose faith in his ability to manage and grow one company it could (and seemingly has) affect the value of all companies he’s involved with, directly decreasing his net worth. Making Twitter profitable would have gone a long way in demonstrating his ability to run a company, but he has done the opposite.
But technically no, I guess he doesn’t need Twitter to turn a profit. He could just watch it all burn.