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Call it Twitter, call it X. It's never going to be worth close to 44 billion again.
by breakyerself 3y ago
Call it Twitter, call it X. It's never going to be worth close to 44 billion again.
- 0xy 3y agoEven with Musk being a divisive person, he's a mastermind when it comes to financial engineering. Tesla nearly collapsed several times and has eviscerated every single short sheller who took a run at it, some taking 9 figure losses. It's pretty unwise to bet against Musk.
- aftergibson 3y agoHis handling of Twitter so far doesn’t scream mastermind.
- 0xy 3y agoIf MAUs are up and Threads was a flop, why doesn't it?
- solumunus 3y agoI don’t think Twitter has even 1/100th of the potential Tesla had. It’s a different ball game.
- valianteffort 3y agoAn everything app for the western market certainly has a >$100B value
- bandyaboot 3y agoAn everything app with Musk’s name attached to it has a pretty severe handicap to overcome.
- valianteffort 3y agoI think the circles you follow give you a skewed idea of Musk's reputation. Most people still think of him as IRL Ironman. It's a small contingent of terminally online people who hate him, another minority that dislike him, and then most who don't follow news around him enough to care. This tracks for every topic you can think of.
- FranzFerdiNaN 3y agoSuch a mastermind he sued to get out of his own dumbass memetastic offer to buy Twitter for a ridiculous price. Such a mastermind he chased away most advertisers, so Twitter is now filled with the lowest of the lowest trash. He is such a colossal idiot he has to be distracted to keep him from interfering with the Tesla and SpaceX businesses, or else he will fuck those up too. And the funniest part is he just had to shut up to keep the illusion of being a supergenius working. But no, he had to go full idiot on Twitter.
- netsharc 3y agoI wonder if his fans keep claiming that he's a genius because they themselves don't want to admit they've been idiots for having been bamboozled. Reminds me of the Emperor's New Clothes, I re-read it recently, and even though the little kid had said "But the emperor is naked!", actually the emperor continued parading in the nude and all his staff stayed silent and kept up with the charade... > “But he hasn’t got anything on,” a little child said. > “Did you ever hear such innocent prattle?” said its father. And one person whispered to another what the child had said, “He hasn’t anything on. A child says he hasn’t anything on.” > “But he hasn’t got anything on!” the whole town cried out at last. > The Emperor shivered, for he suspected they were right. But he thought, “This procession has got to go on.” So he walked more proudly than ever, as his noblemen held high the train that wasn’t there at all.
- rsynnott 3y agoYeah, this is absolutely what this is. You know those doomsday cults which predict the end of the world at a specified, close date? You know what happens when the date passes, and the world stays stubbornly un-ended? Surely, the cult members realise they've been duped and leave? Well, no, not usually; the cult leader gives an excuse, the cult members rationalise it and set their clocks for the new doomsday, because that is, for many people (and I suspect particularly the sort of people who join cults in the first place) easier than admitting they were wrong. See also; bitcoin.
- deleted 3y ago[deleted]
- bandyaboot 3y agoMusk is a financial mastermind…his company almost collapsed several times…
- 0xy 3y agoCorrect, saving a company from the brink is easier than running a financially healthy company.
- bandyaboot 3y agoSo he’s a mastermind because he did the easier thing?
- 3cats-in-a-coat 3y agoWhat an interesting coincidence that his companies are always on the bring, and always saved with government grants, loans, and investor funds.
- 3cats-in-a-coat 3y ago*brink
- Proven 3y agoInsightful... not. If Elon cared about maximizing ROI on that 44 BN, he wouldn't have bought Twitter. Btw the amount of damage done to the cults of DIE, ESG, climate, globalism, and statism since last November has been multiple times greater, and done completely on Elon's dime. I really appreciate that. If the US Gov knew this beforehand I think they would have done something to prevent it.
- solumunus 3y agoUltimately he didn’t want to buy Twitter, he was forced to resulting from his own incompetence and hubris.
- FranzFerdiNaN 3y agoHe wanted to pump and dump Twitter stock, he never had any real intention of buying it. He just overplayed his hand.
- austhrow743 3y agoDIE?
- bifftastic 3y agoProbably diversity, inclusion, and equity.
- bandyaboot 3y ago> Insightful... not. I will never not be dumbfounded that there are adults who use this particular rhetorical device. > Btw the amount of damage done to the cults of DIE, ESG, climate, globalism, and statism since last November has been multiple times greater, and done completely on Elon's dime. From the inside of a developing echo chamber, it sounds like a massive change in popular sentiment.
- bandyaboot 3y ago> Btw the amount of damage done to the cults of DIE, ESG, climate, globalism, and statism since last November has been multiple times greater, and done completely on Elon's dime. From the inside of a developing echo chamber, it sounds like a massive change in popular sentiment.
- winternett 3y agoI can also predict a further slide in usage numbers after any name change...Utter mis-management. Twitter is a scuttled beached whale now. Musk is turning a very useful info platform into his own personal pulpit out of hybris in the highest order.... He's Captain Ahab... The only consolation is that he lost tons of money doing it. Threads by Meta is still a Twitter clone, it won't last nor grow if they don't break ties with Twitter features like flooding users with undesired content, and if their only plan is to slowly monetize ads into the platform. Exorbitant cloud hosting fees are prohibiting most of the best ideas from rising now... What a ghastly grim tech innovation time we live in right now.
- 3cats-in-a-coat 3y agoTwitter is a beached whale and Elon is Captain Ahab. I mean I appreciate your expressive comment, but your whale analogies are all over the place. ;-) I'm guessing the Fail Whale is on your mind. > Exorbitant cloud hosting fees are prohibiting most of the best ideas from rising now... What a ghastly grim tech innovation time we live in right now. Not sure how you mean. We have a wide variety of hosting options, including self-hosting. You can start an app with a budget of basically $0. And if it grows... well then you have a validation to invest more.
- devonnull 3y agoWas Twitter ever worth close to $44 billion? Just because Musk paid that much for it, doesn't mean it was worth that amount of money.
- capableweb 3y agoWell, he did pay that so it was worth that to him at least? If "worth" is not defined by what people are willing to pay for it, how is "worth" defined exactly?
- catchnear4321 3y agodidn’t musk try to get out of buying twitter? because it cost too much for what it was?
- hotpotamus 3y agoDidn't he sign a contract saying he would pay the cost for it? That he was then legally held to?
- catchnear4321 3y agodidn’t he claim that the value was misrepresented?
- guax 3y agoHe picked the value.
- catchnear4321 3y agohe picked the dollar amount based upon perceived and portrayed value. does that help clarify?
- 3y ago
- justinhj 3y agoWhy not? That was the market cap when he bought it. Assuming he can recover the revenue lost when he took it over eventually, plus inflation and tech stock recovery I think it's very likely it will be worth that again at some point in the future assuming it doesn't crash and burn completely before then.
- justinhj 3y agoUnpopular opinions on hacker news “twitter might not fail”
- WheatMillington 3y agoThey market cap when he bought it was considerably lower than $44b, and it was nonetheless over valued at the time.
- justinhj 3y agoNo, when he wrote up the contract it was at around $44b. The actual purchase was months later.