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Twitter has lost 90% of its value and could be worth just $4 billion, according to Elon Musk
Mistake
Member
Changing to the crappy name certainly didn't do it favors. The only real feature he's added so far is video, although it is more open source now at least
analog_future
Resident Crybaby
funkygunther
Banned
A bargain for bytedance
adamsapple
Or is it just one of Phil's balls in my throat?
This is my shocked face.
StreetsofBeige
Gold Member
Buying twitter is one thing.
Buying it at $50/share is another. The company has lost money almost every year it's been around. At some point the corporate coffers will be zero. He should had done more due diligence buying it.
Somehow the stock had always trended around $30-40 no matter how bad their financials were. Hindsight is 20/20, the company is probably worth more like $10/share. Just because a company has a billion users or whatever the stat is doesn't mean it's a good buy.
Buying it at $50/share is another. The company has lost money almost every year it's been around. At some point the corporate coffers will be zero. He should had done more due diligence buying it.
Somehow the stock had always trended around $30-40 no matter how bad their financials were. Hindsight is 20/20, the company is probably worth more like $10/share. Just because a company has a billion users or whatever the stat is doesn't mean it's a good buy.
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TransTrender
Gold Member
Came here for this.
-Minsc-
Member
I'm getting high just looking at that image. A lot of funky stuff going on in it. Reality isn't all it appears to be.
DrFigs
Member
I will give Elon credit for one thing. I was skeptical when he fired like half of Twitter's employees. But actually that was probably the smartest thing he did because the site runs perfectly fine with a fraction of the workers.
edit: Actually it was even crazier. I'm seeing he layed off 80% of staff.
edit: Actually it was even crazier. I'm seeing he layed off 80% of staff.
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I think a more accurate title would be "according to someone interpreting one of his tweets."
Anyway and regardless, I would say that society as a whole benefitted from any reduction in value. The new version may completely suck depending on who you ask, but it is no longer in the hands of the prior regime. Good riddance to them.
Anyway and regardless, I would say that society as a whole benefitted from any reduction in value. The new version may completely suck depending on who you ask, but it is no longer in the hands of the prior regime. Good riddance to them.
analog_future
Resident Crybaby
Also a fraction of the userbase. Win win!
natjjohn
Member
There’s been multiple site issues since then.
Tal Shiar Agent
Member
"Could be worth just $4 billion"
So it's actually only worth $2 billion
So it's actually only worth $2 billion
Nobody_Important
“Aww, it’s so...average,” she said to him in a cold brick of passion
Oh wow. Who could possibly have seen this coming.
I wonder what caused it.....
- Ads are worse
- Functionality is worse
- Some key features are locked behind Twitter Blue or soon will be
- The algorithm is all fucked up so you never see or find what you want half the time.
- The algorithm favoring Twitter Blue users means you get loads of spam and crypto BS in unrelated topics.
Basically Twitter is in a worse functional state than it's ever been and when combined with the mass exodus of advertisers due to Musks handling of it all has absolutely tanked twitters value.
I wonder what caused it.....
- Bots are far worse
- Ads are worse
- Functionality is worse
- Some key features are locked behind Twitter Blue or soon will be
- The algorithm is all fucked up so you never see or find what you want half the time.
- The algorithm favoring Twitter Blue users means you get loads of spam and crypto BS in unrelated topics.
Basically Twitter is in a worse functional state than it's ever been and when combined with the mass exodus of advertisers due to Musks handling of it all has absolutely tanked twitters value.
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Denton
Member
Maybe there is some "objective" research that proves these points, but in my personal experience of using twitter for a decade, none of these are true
Nobody_Important
“Aww, it’s so...average,” she said to him in a cold brick of passion
Features being locked behind Blue or soon will be is an objective fact. So is the issues with the algorithm because it prioritizes Blue users.
As for the rest considers yourself lucky then because they are daily occurrences for me. Especially the crypto bots and random spam. I've blocked dozens and dozens of accounts and I still come across Twitter bots pushing illegal streaming sites everytime there is a big UFC fight or Boxing match when all I'm trying to do is look for highlights. Same goes for last night with the Chiefs game. I came across idk how many bots pushing streaming sites or hijacking the "Chiefs" trend to push various businesses or currencies.
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DeaDPo0L84
Member
Usual suspects when they see a thread discussing Twitter and Elon Musk:
DeepEnigma
Gold Member
It wasn't even worth close the price paid to begin with.
Eh? Isn't the user base and engagement at an all time high since Musk brought it?
John Bilbo
Member
Cool next do Tiktok, Facebook and Instagram
Cyberpunkd
Member
Once again - nothing of value was lost. The very idea to limit thoughts to 280 characters is an insult to intelligence and education.
In the ideal world all the people browsing Twitter could spend their time more productively, but they will probably all flock to TikTok or some other rubbish.
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funkygunther
Banned
Only if Musk and the other investors somehow benefit from giving the old shareholders their payouts. But they all made out like bandits with the deal of the century, so no.
I'm convinced at this point Elon can do the most stupidest thing possible and people would call him "based".
Hudo
Member
To be fair though, destroying Twitter/X is a good thing. So in this specific case, he really is "based". Even if he not intended to do it.
funkygunther
Banned
Cult of personality
German Hops
GAF's Nicest Lunch Thief
Finally, Twitter has dropped into my price range.
Nobody_Important
“Aww, it’s so...average,” she said to him in a cold brick of passion
A very specific kind of person will latch on to anything if they believe that thing to be antithetical to what they have been brainwashed into being their "enemies" even if that thing or person is out of their fucking mind or just plain stupid.
Its all about "wins". Not reason.
FunkMiller
Gold Member
I’m sure they’re all cheering him on while he stops the Ukrainians fighting back against Russia.
Nobody_Important
“Aww, it’s so...average,” she said to him in a cold brick of passion
GymWolf
Member
Was twitter run by hamsters?
I think the real reason would be that china is never gonna give up on collecting datas for all the money in the world, and the alien android has as much money as elon so it doesn't care about any possible offer.
Nobody_Important
“Aww, it’s so...average,” she said to him in a cold brick of passion
pennythoughts
Member
All tech overhired during covid. Many of those people would have been fired even if Musk didn't buy the platform.
Yamisan
Member
Haven't had any of those issues....Oh wow. Who could possibly have seen this coming.
I wonder what caused it.....
- Bots are far worse
- Ads are worse
- Functionality is worse
- Some key features are locked behind Twitter Blue or soon will be
- The algorithm is all fucked up so you never see or find what you want half the time.
- The algorithm favoring Twitter Blue users means you get loads of spam and crypto BS in unrelated topics.
Basically Twitter is in a worse functional state than it's ever been and when combined with the mass exodus of advertisers due to Musks handling of it all has absolutely tanked twitters value.
Nobody_Important
“Aww, it’s so...average,” she said to him in a cold brick of passion
Here is a few examples of what I see when I go to the Colorado trend right now.
Copy paste nonsense from dozens of bot accounts all posted roughly at the same time. I'm not just making this shit up.
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German Hops
GAF's Nicest Lunch Thief
LegendOfKage
Member
The ADL isn't "the Jews," but their government involvement makes a mess of things when it comes to them trying to censor legally protected speech as a "nongovernmental" group.