3 ms·
It's weird how many people are experiencing sudden onset amnesia. Prior to Elon getting control, everyone understood Twitter was a mess, was losing tons of mone
by memish 4y ago
It's weird how many people are experiencing sudden onset amnesia. Prior to Elon getting control, everyone understood Twitter was a mess, was losing tons of money and not able to get anything done for the past decade.
Obviously it needs a major shakeup.
- artificial 4y agoEven ~10 years ago it was a money fire (https://money.cnn.com/2016/03/21/technology/twitter-10th-anniversary/index.html https://money.cnn.com/2016/03/21/technology/twitter-10th-ann...). Trump was one of the best things that happened to the platform.
- bitwize 4y agoBut back then Twitter was run by the right sorts of people, not a wildcard with conservative leanings. They were running the business into the ground, but they were card-carrying socialists, so it just meant they were fucking the shareholders over and protecting workers and the marginalized. Musk is acting purely out of self-interest and spite.
- shagmin 4y agoI had no idea what the financial situation was, other than that it's not part of FAANG for a reason. According to [0] Twitter was actually on a positive trajectory. Revenue has generally gone up over time. Profit wise 2020 was bad, but overall the last 5 years were much better than the 5 years prior to that. There is no shortage of companies that needed a shakeup more than Twitter. https://www.businessofapps.com/data/twitter-statistics/ https://www.businessofapps.com/data/twitter-statistics/
- dragonwriter 4y agoIIRC, Twitter was (just barely and recently) profitable, before Musk took over and saddled them with $1 billion/year in debt service and tanked ad sales. It wasn't awesome, but it had found a working groove.