4 ms·
The company wasn't financially failing until Elon showed up, scared off most of the major advertisers, and stuck the company with $13B in high-interest loans he
by jurassic 4y ago
The company wasn't financially failing until Elon showed up, scared off most of the major advertisers, and stuck the company with $13B in high-interest loans he used to buy it.
- PM_me_your_math 4y agoLosing 4 billion dollars over 10 years isn't healthy.
- smcl 4y agoWouldn't this logic make basically all SV giants "failing" until they hit that hockey stick turning point? Hell even Tesla didn't turn a profit until 2020, and it is pretty universally considered to be a success (even if there are some raised eyebrows over their the source of the profits being tax credits, and sky-high stock price)
- PM_me_your_math 4y agoTwitter actually turned a profit only twice in 10 years (FY18/19) but then went right back to hemorrhaging money. There was ostensibly no reason for it beyond mismanagement and staggering waste.
- smcl 4y agoNo objections over it being described as mismanaged and wasteful, but "failing" implies it was on the brink of collapse. It certainly wasn't my idea of a model company, but it wasn't exactly Lehman Brothers during the financial crisis.