[deleted]
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
Submitted 1 year ago by bernieecclestoned@sh.itjust.works to technology@lemmy.world
https://finance.yahoo.com/news/according-elon-musk-own-math-204413573.html
Comments
Colorcodedresistor@lemm.ee 1 year ago
tburkhol@lemmy.world 1 year ago
Honestly, I feel like he’s incomprehensibly wealthy even relative to single-billionaires. Google says there’s about 2600 of them on the planet, so I’m putting Musk incomprehensibly wealthy compared to 99.99997% of us
uphillbothways@kbin.social 1 year ago
I mean, it was never worth what he paid for it. But, he's definitely devalued it by a lot.
eltimablo@kbin.social 1 year ago
It was also on a severe downward trend for about a year prior to him buying it.
Smacks@lemmy.world 1 year ago
Social platforms are only worth what they are on paper. Elon is pushing ads and premiums more and more, but it’s 100% not enough to run a service like that. How much longer can this go on?
Talaraine@kbin.social 1 year ago
I swear this is playing out like Brewster's Millions more and more each day
FlyingSquid@lemmy.world 1 year ago
Except Brewster was a decent guy.
NocturnalMorning@lemmy.world 1 year ago
At this point I’m starting to think he wanted to topple Twitter. Nobody is this careless.
bernieecclestoned@sh.itjust.works 1 year ago
My guess is he launched Tesla in China and wanted a WeChat clone, and as he has bought pretty much every company rather than founded them, he just thought it was rinse repeat.
IHeartBadCode@kbin.social 1 year ago
Twitter as WeChat is exactly what I’m guessing Musk is attempting. I wouldn’t be surprised if he started linking Teslas and the Supercharger Network to Twitter.
He has mentioned that the three would have some interconnectivity via his xAI platform. Along with StarLink providing the networking to the platform.
What all it means and how it all works has yet to be seen. Pretty hard to work on new ideas when your company is hemorrhaging money faster than an executive at a top dollar strip club.
Serdan@lemm.ee 1 year ago
My hypothesis is that wealth causes brain damage.
IronHighway@lemmy.world 1 year ago
On one hand, I can’t wait for his empire to crumble and on another hand, I don’t want to see this many Elon/X/Tesla links about something so seemingly useless.
Gerula@lemmy.world 1 year ago
What company?
nova_ad_vitum@lemmy.ca 1 year ago
Xitter
greavous@lemmy.world 1 year ago
I’ll pronounce it a shitter I think!
Kerred@lemmy.world 1 year ago
I have a dumb conspiracy that Elon wants to be US president like any Lex Luthor like person, but since he can’t he is ruining things extreme republicans hate so he can gain favor and make his way up as high as he can to reach religious cult status. 😆
EVs and Twitter down I guess so far.
gonzo0815@sh.itjust.works 1 year ago
HODL lol
PerCarita@discuss.tchncs.de 1 year ago
Now they’re researching a time machine to try to create a conundrum where Musk simultaneously buys Twitter, runs it to the ground, but then in the past re-buys it from himself after he runs it to the ground.
mojo@lemm.ee 1 year ago
Big W for the ADL, ratio’ing Musk harder then anyone else ever could
nxdefiant@startrek.website 1 year ago
He 10X’d Twitter!
gareth886@lemmy.world 1 year ago
It’s a rather sad state of affairs. I have 2 accounts, one for professional network and SFW interests, plus another for porn. The professional network and SFW interests has become an absolute bonfire. I find myself using it less and less. I used to check every day, now I barely check once a week.
TL:DR Twitter is only useful for porn these days, and even that isn’t fantastic.
BonesOfTheMoon@lemmy.world 1 year ago
I thought most of the porn was gone from Twitter.
YMS@kbin.social 1 year ago
Does Elon Musk really believe that X is now worth $4 billion, as his scorching post suggests? Maybe not.
Well, maybe I just read another article wildly blowing up a story based on a tweet Elon Musk spent 4 seconds thinking about.
bernieecclestoned@sh.itjust.works 1 year ago
His rush to spout shite may have led him to reveal more than he meant to I think is their point
Zeppo@sh.itjust.works 1 year ago
I don’t think that Elron can really do math, so who knows.
kalistia@sh.itjust.works 1 year ago
What a clown
SocialMediaRefugee@lemmy.world 1 year ago
Three fiddy
Commiunism@lemmy.wtf 1 year ago
Wasn’t twitter worth way, way less than musk paid for the company’s acquisition (like 2x or more)? If so, the 4 billion evaluation is still probably much higher than what most people were anticipating the company would be worth under musk in 1-2 years after acquisition. Great job elon, exceeding expectations yet again.
xc2215x@lemmy.world 1 year ago
Elon has screwed up the site.
JaymesRS@midwest.social 1 year ago
🎻
Heikki@lemm.ee 1 year ago
Could be? Those are rookie numbers!!! Dear Leader has almost bankrupted Truth Social already!!! You gotta get them even lower!!!
MrCrankyBastard@lemmy.world 1 year ago
Good. Fuck ElMu. ElMu sucks.
MrBusinessMan@lemm.ee 1 year ago
For now, but not for long. He’s too much of a business genius to lose out long term
supercriticalcheese@feddit.it 1 year ago
So saying it wasn’t worth the investment ?
Birdlaw@lemmy.world 1 year ago
From Yahoo, definitely we should take the former search engine as a reputable news source. X (Twitter) has lost money because he is enforcing free speech which the main stream doesn’t like so obviously advertisers who are scared pull from it. It’s so obvious when it was Twitter and you had whatever leftist pouring propaganda it’s all ok but the second that a different opinion gets put on there then it’s garbage. This is America words are words and we should be able to have conversations.
Panurge987@lemmy.world 1 year ago
It’s Fortune magazine. Yahoo aggregates news from other sources.
bernieecclestoned@sh.itjust.works 1 year ago
It’s a Fortune piece that Yahoo regurgitated. That’s all I see Yahoo doing these days
ArugulaZ@kbin.social 1 year ago
And he's... proud of this?
Chariotwheel@kbin.social 1 year ago
I don't think Musk is capable of not being proud of himself.
macisr@unilem.org 1 year ago
And now that it’s more like a shitty and smaller version of reddit (i don’t see real people posting there anymore), i don’t see how it can recover.
originalucifer@moist.catsweat.com 1 year ago
hes very close to his goal of $0.00..
infrastructure... check
userbase... check
branding... checkwhats left? fanboidom?
EnderMB@lemmy.world 1 year ago
Unlike others, I saw at least $20B of potential in Twitter. Advertisement and media alignment was basically Twitter’s P0, and why they had a bloated staff that managed corporate sales and media accounts. TV execs around the world wanted a slice of Twitter’s analytics to measure what people interacted with, and we’re willing to pay for it. It wasn’t $44B worth, but they had a “solved” solution for scalable social networks, and whoever could scale enough to be irresistible to advertisers would have come close to justifying that valuation over time.
Knowing a few people that worked there, it justified it’s reputation a bit before Musk came in. The tech side was fairly limited compared to the sales/accounts side, and there were a lot of people doing very little outside of making sure that an advertiser was happy. A smart CEO would have scaled that side of the business without scaling sales staff, but Musk did the exact opposite - and utterly gutted the thing that made any money, and made it about himself…
He’s obviously a fucking idiot, but I consider Twitter to be a vanity project above anything else. He leveraged his debt against the company, ran it to be barebones, and now it’ll just “exist” until he can sell it when he’s bored.
As a software engineer, the one company I really wanted to work for was Twitter. It’s sad to see it killed, but they also kinda deserved it too. At least they got a payout!