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At over a billion a year in interest payments to just service the debt is going to be hard. Twitter, before Elon, was already losing a couple hundred million a
by jmann99999 4y ago
At over a billion a year in interest payments to just service the debt is going to be hard. Twitter, before Elon, was already losing a couple hundred million a year. It has to be worse now.
I do agree that Morgan Stanley and the other financiers are going to be the kids without a chair when the music stops.
- kalleboo 4y ago> Twitter, before Elon, was already losing a couple hundred million a year Twitter's business was making a profit in 2018 and 2019, but then 2020 happened (because 2020), and in 2021 they had a $800 million class action settlement to pay (without that it would have been $600m profit), and then in 2022 Elon tanked the company in the 4th quarter. The core business was (just about) profitable before Elon. It was just far below the FAANG-level expectations from a tech company.
- Hamuko 4y ago>in 2022 Elon tanked the company in the 4th quarter Didn't Elon basically ruin almost the entire 2022 since the buyout offer was in April and caused uncertainty throughout the year?