Comment on Since Elon Musk’s Twitter purchase, firm reportedly lost 72% of its value

Monomate@lemm.ee ⁨10⁩ ⁨months⁩ ago

• goatsarah@thegoatery.dyndns.org ⁨10⁩ ⁨months⁩ ago

  @Monomate @boem Because he owes the banks a shedload of money which he may have to start paying back if the value drops too much.

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  • ikidd@lemmy.world ⁨10⁩ ⁨months⁩ ago

    Meh, the Saudi’s are covering his losses, that’s the deal.

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    • goatsarah@thegoatery.dyndns.org ⁨10⁩ ⁨months⁩ ago

      @ikidd oh yes, those famously fluffy and forgiving people, the Saudis.

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    • SendMePhotos@lemmy.world ⁨10⁩ ⁨months⁩ ago

      What do the Saudis gain from this?

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      • ikidd@lemmy.world ⁨10⁩ ⁨months⁩ ago

        The end of the weapon that brought on the Arab Spring. They hate Twitter with the power of a thousand suns.

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• silvercove@lemdro.id ⁨10⁩ ⁨months⁩ ago

  Banks who loaned Elon money hold a bunch of Twitter stock. They want to eventually cash out.

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• technicalogical@lemmy.world ⁨10⁩ ⁨months⁩ ago

  Can these measurements be used as losses to offset taxes?

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  • runeko@programming.dev ⁨10⁩ ⁨months⁩ ago

    Typically, losses in one year can be used to offset profits in following years, but not indefinitely… maybe three years tops IIRC. But that would mean the company would have to become very, very profitable profitable, which is doubtful.

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    • SeaJ@lemm.ee ⁨10⁩ ⁨months⁩ ago

      They changed the rules under the Tax Cut and Jobs Act and losses can be carried forward indefinitely.

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      • runeko@programming.dev ⁨10⁩ ⁨months⁩ ago

        TIL, thanks

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• sneakattack@lemmy.ca ⁨10⁩ ⁨months⁩ ago

  Because the money still comes from investors even if it’s not publicly traded.

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