While it is remarkable that Elon Musk would implicitly acknowledge that he paid over twice what Twitter was worth, that's only half the story. There are at lea

While it is remarkable that Elon Musk would implicitly acknowledge that he paid over twice what Twitter was worth, that's only half the story. There are at least two reasons to cut that value in half again: one reason is that he lost half of the advertisers. Another reason is that the LBO debt has been written down by the creditors to roughly half what they are owed. He's putting one over on his remaining employees. Yet another way to tell the $20B is a fantasy number is that no CEO candidate would take options based on Musk's idea of a valuation.