please just put the interesting part in the title.
As He Realized His Mistake, Elon Musk Begged Twitter Staff to Turn Off the New Feature He'd Pushed For
Submitted 2 months ago by vegeta@lemmy.world to technology@lemmy.world
https://futurism.com/mistake-elon-musk-begged-twitter-staff-turn-off-new-feature
Comments
Churbleyimyam@lemm.ee 2 months ago
This a beautiful story. Bankers get shafted lending money to apex capitalist.
🤌
tja@sh.itjust.works 2 months ago
Some days ago I read an article here that said that a lot of the money came from Russia and that they are getting exactly what they wanted
Blue_Morpho@lemmy.world 2 months ago
No one has ever explained how bankers are losing. They say they’ve lost money. Yet the only details are Musk has to make payments and put up Tesla stock as collateral. That a no lose for the banks. They don’t care if Tesla stock crashes, they are making money from selling it.
CaptainPedantic@lemmy.world 2 months ago
If Tesla’s stock crashes, then the value the banks could get from selling it is much lower.
If Twitter and Tesla go bankrupt, the banks will have loaned out billions to own something worthless.
At least I would assume that’s how it works.
lone_faerie@lemmy.blahaj.zone 2 months ago
It’s because when banks make loans, they sell of the debt, but nobody has wanted to buy the debt for Musk’s loans. My understanding of this is essentially, if someone takes out a loan of $100 million, the bank will sell that debt to an investor for $101 million, and the investor will make back $102 million once the loan is paid off due to interest. But no investors are confident enough that Musk will pay back his loan so no one is ponying up the dough to buy it.
walter_wiggles@lemmy.nz 2 months ago
I remember reading that the banks who loaned him the money haven’t been able to sell off the debt.
frunch@lemmy.world 2 months ago
nova_ad_vitum@lemmy.ca 2 months ago
The fact that this tweet caused their stock price to dive really shows what a joke the stock market is .
BigMacHole@lemm.ee 2 months ago
I’m GLAD we don’t tax Billionaires like Musk! Imagine if instead of buying a Website for $44BILLION he instead bought kids $44BILLION worth of School Lunch! The HORROR!
Cocodapuf@lemmy.world 2 months ago
Ugh… it drives me nuts!
Musk had to borrow around $13 billion for his doomed $44 billion acquisition.
Had he spent that $57 billion on developing space hardware instead of going insane and squandering it on social media bullshit, he might have done something worthwhile. I mean… fifty seven billion! What even is that much money? He could have had his own space station for that much money! He could fly up there for weekends, just for funzies.
todd_bonzalez@lemm.ee 2 months ago
That $13 billion is part of the $44 billion, you don’t add them together.
He spent $31 billion of his own capital, and borrowed $13 billion to cover the rest.
androogee@midwest.social 2 months ago
Oh great, I added all the numbers in your comment together and now it’s $101 billion?? When will this madness end???
trolololol@lemmy.world 2 months ago
“own capital” probably more like stocks from Tesla, I doubt any actual money moved
Cocodapuf@lemmy.world 2 months ago
Oh thank you, my mistake. Still the numbers are huge!
RememberTheApollo_@lemmy.world 2 months ago
Why didn’t he just spend his own billions to prop up his venture? Oh, because he doesn’t want to pay taxes.
GrammarPolice@lemmy.world 2 months ago
I do English, but your math is wrong
Cocodapuf@lemmy.world 2 months ago
Haha everyone keeps saying that! But it’s pretty funny how wrong everyone is about where the mistake was.
The math is just fine, I did the simple addition correctly. It’s the reading comprehension that I got wrong, I misunderstood what the sentence was saying.
masquenox@lemmy.world 2 months ago
he might have done something worthwhile
No, he wouldn’t have. Musk is an incompetent billionaire parasite, even more incompetent than the average billionaire parasite, and would have simply squandered his ill-gotten money on something else.
Cocodapuf@lemmy.world 2 months ago
Oh ok, well that’s a relief. I’m glad we had you and your crystal ball handy!
Liz@midwest.social 2 months ago
That’s not how math works.
Cocodapuf@lemmy.world 2 months ago
No, my math is just fine, it’s my reading comprehension that needs work, because I totally misunderstood what that sentence was saying.
spyd3r@sh.itjust.works 2 months ago
Watching Twitter die the slow agonizing cancerous death it deserves makes me all warm and fuzzy inside.
wurstgulasch3000@lemmy.world 2 months ago
Is it dying though? It is getting worse and worse but I don’t think people are leaving in huge numbers
mipadaitu@lemmy.world 2 months ago
It was the paid blue checkmark for $8 back in 2022.
Kinda old article info without much current stuff except the lawsuit against the ad trade group.
Zerlyna@lemmy.world 2 months ago
Still makes me gleeful reading about his stupidity.
AllNewTypeFace@leminal.space 2 months ago
It does, until you realise that his monstrous wealth insulates him from any consequences, deflecting them onto the heads of mortals. No matter what he does, he’ll be alright.
hightrix@lemmy.world 2 months ago
Savedyouaclick
Thank you!
trolololol@lemmy.world 2 months ago
And that’s why I never click. At this point getting Rick rolled would be fresher news.