4 ms·
It’s not the first or last time someone will say this, but I continue to be fascinated by the sheer scale of Twitter’s self-ablation: I’m not aware of any other
by woodruffw 4y ago
It’s not the first or last time someone will say this, but I continue to be fascinated by the sheer scale of Twitter’s self-ablation: I’m not aware of any other company or company leadership that has worked so directly to erode its market position and latent value in so little time.
Generations of insufferable MBAs will no doubt study Twitter’s acquisition looking for the method in the madness.
- deleted 4y ago[deleted]
- AndrewKemendo 4y agoMy totally wild idea here is that he's trying to glitch the banking system by incurring the largest possible personal loss (though it's all levered) in history so that he never has to pay taxes for any of his space adventures in the future To be clear I don't fall into the "5D Chess Genius Elon Musk" trope However he's smart and a sociopath who has shown expertise in financial engineering using any sources he can with no regard to the fallout so long as it pushes the "Musk as space leader" narrative
- yellow_lead 4y agoLosing $X money in order to not pay taxes on up to $X income, where you could've just not lost $X in the first place, isn't exactly financial engineering.
- lapcat 4y agoMusk doesn't have to pay taxes on his stock unless and until he sells it, which ironically is what he has been forced to do in order to finance the Twitter deal. So if he wanted to avoid paying taxes, purchasing Twitter was the dumbest idea ever. But I seriously doubt that was his reason. Money aside, Musk seems to genuinely enjoy using Twitter, and all the attention he gets from it, so it would be personally self-destructive for him to destroy the company in some kind of convoluted tax avoidance scheme. If he wanted to lose money, he could do it with a company he doesn't care about.
- classified 4y agoI said it before and I'll say it again: If Musk's goal was to destroy Twitter from the inside, he seems to be succeeding. What fascinates me the most is that all of this was worth so much money to him.
- asdf123wtf 4y agoHe tried to back out of the deal, but his hand was forced. , wasn’t it? He basically bought it by accident. Maybe he thought he could really do something to improve and then sell for a profit. But really… it’s like the alcoholic who buys the distillery.
- mabbo 4y agoReminds me of Target's Canada launch. It's literally a case study in business textbooks of how to do everything wrong.