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- But - he used the money to buy a company , Twitter, that was able to create profit, do lot of questionable choices killing any profit and, worst, firing thous

- But - he used the money to buy a company , Twitter, that was able to create profit, do lot of questionable choices killing any profit and, worst, firing thousands of employees, people with families, I want to remember. So, at the end, better if he did spend that money in Lambos and Guccis !

xcv123 3y ago
You don't know what you're talking about. If he didn't fire those employees there would be no Twitter and 100% of the jobs would be gone. Twitter was losing money and nearly bankrupt. It was not a profitable company when he bought it. After learning about the actual state of the company he tried to exit the deal but was sued by Twitter and legally forced to complete the deal. He has since turned it into a profitable company. https://qz.com/elon-musk-is-suing-the-law-firm-that-helped-force-him-t-1850616483 https://qz.com/elon-musk-is-suing-the-law-firm-that-helped-f...
- what3ver 3y ago
  I don't think so and , anyway, why are you using the past ? Twitter IS losing money and IS nearly backrupt, not being able to sell , you know, ads, that in a company relying for 75% of its income on ads it's a big problem: "X generated $4.4 billion revenue in 2022, a 11% decrease on 2021 figures. Revenue is expected to be worse in 2023 due to a loss of advertising revenue" In fact, now is 1.5 billion verified, 2.1 estimated with a negative trend: https://www.reuters.com/technology/us-ad-revenue-musks-x-declined-each-month-since-takeover-data-2023-10-04/ https://www.reuters.com/technology/us-ad-revenue-musks-x-dec... https://arstechnica.com/tech-policy/2023/12/stop-comparing-xs-dismal-ad-sales-to-twitters-past-success-x-exec-says/ https://arstechnica.com/tech-policy/2023/12/stop-comparing-x... We have half revenue, even if you improved the efficiency of 100%, you have no improvement. Besides there are the interest he have to pay to banks lent him money. So, "He has since turned it into a profitable company" , it's not true, it's the opposite, demonstrated black on white in the financial documents. Everything else is a delusional dream of Musk's troll army. The people he fired was the same people help the platform to keep away the scum of the web outside, reason why the ads are declining. You know, you don't want nazis, white suprematist, antisemitic, hamas, near the new shoes model you are trying to advertise. P.S. Anyway why this article is flagged? The source is a news article for a reputable source and the title is correct. Other demonstration that when you dare commit blasphemy against the Cult of Musk , you have to face an overdose of trolling.
  - xcv123 3y ago
    > it's not true, it's the opposite, demonstrated black on white in the financial documents Which financial documents? Twitter is a private company now. How did you get access to their private financial statements? Also, revenue != profit, and those numbers are estimated, as explained in the articles that you linked to. Those sources do not have access to the financial statements. Net income for Twitter before it went private was -$221 million. That's a $221 million loss in 2021 before Musk bought it (public information, since it was a public company). 80% of the employees were fired and the system is still running. Why should those people have stayed employed and continued to lose $200M+ per year? Do you believe a company can continue to pay staff if it has no money? > P.S. Anyway why this article is flagged? It's a dupe. Further discussion here: https://news.ycombinator.com/item?id=39196390 https://news.ycombinator.com/item?id=39196390
    - zimpenfish 3y ago
      > That's a $221 million loss in 2021 That was down to a one-off $800M lawsuit settlement. They technically made $580M profit in 2021.
      - xcv123 3y ago
        "Technically" that is a $221M loss in 2021. In 2020 they lost $1.1 billion. 2018 and 2019 were the only profitable years in the 10 years prior to 2022 [0]. From 2018 to 2021 they nearly doubled the number of employees from 3920 to 7500 [1]. Jack Dorsey regretted it and apologized for over-hiring [2]. [0] https://www.statista.com/statistics/274563/annual-net-income-of-twitter/ https://www.statista.com/statistics/274563/annual-net-income... [1] https://www.statista.com/statistics/272140/employees-of-twitter/ https://www.statista.com/statistics/272140/employees-of-twit... [2] https://www.theguardian.com/technology/2022/nov/05/twitter-elon-musk-jack-dorsey-apology https://www.theguardian.com/technology/2022/nov/05/twitter-e...

xcv123 3y ago

You don't know what you're talking about. If he didn't fire those employees there would be no Twitter and 100% of the jobs would be gone. Twitter was losing money and nearly bankrupt. It was not a profitable company when he bought it. After learning about the actual state of the company he tried to exit the deal but was sued by Twitter and legally forced to complete the deal. He has since turned it into a profitable company. https://qz.com/elon-musk-is-suing-the-law-firm-that-helped-force-him-t-1850616483 https://qz.com/elon-musk-is-suing-the-law-firm-that-helped-f...

what3ver 3y ago
I don't think so and , anyway, why are you using the past ? Twitter IS losing money and IS nearly backrupt, not being able to sell , you know, ads, that in a company relying for 75% of its income on ads it's a big problem: "X generated $4.4 billion revenue in 2022, a 11% decrease on 2021 figures. Revenue is expected to be worse in 2023 due to a loss of advertising revenue" In fact, now is 1.5 billion verified, 2.1 estimated with a negative trend: https://www.reuters.com/technology/us-ad-revenue-musks-x-declined-each-month-since-takeover-data-2023-10-04/ https://www.reuters.com/technology/us-ad-revenue-musks-x-dec... https://arstechnica.com/tech-policy/2023/12/stop-comparing-xs-dismal-ad-sales-to-twitters-past-success-x-exec-says/ https://arstechnica.com/tech-policy/2023/12/stop-comparing-x... We have half revenue, even if you improved the efficiency of 100%, you have no improvement. Besides there are the interest he have to pay to banks lent him money. So, "He has since turned it into a profitable company" , it's not true, it's the opposite, demonstrated black on white in the financial documents. Everything else is a delusional dream of Musk's troll army. The people he fired was the same people help the platform to keep away the scum of the web outside, reason why the ads are declining. You know, you don't want nazis, white suprematist, antisemitic, hamas, near the new shoes model you are trying to advertise. P.S. Anyway why this article is flagged? The source is a news article for a reputable source and the title is correct. Other demonstration that when you dare commit blasphemy against the Cult of Musk , you have to face an overdose of trolling.
- xcv123 3y ago
  > it's not true, it's the opposite, demonstrated black on white in the financial documents Which financial documents? Twitter is a private company now. How did you get access to their private financial statements? Also, revenue != profit, and those numbers are estimated, as explained in the articles that you linked to. Those sources do not have access to the financial statements. Net income for Twitter before it went private was -$221 million. That's a $221 million loss in 2021 before Musk bought it (public information, since it was a public company). 80% of the employees were fired and the system is still running. Why should those people have stayed employed and continued to lose $200M+ per year? Do you believe a company can continue to pay staff if it has no money? > P.S. Anyway why this article is flagged? It's a dupe. Further discussion here: https://news.ycombinator.com/item?id=39196390 https://news.ycombinator.com/item?id=39196390
  - zimpenfish 3y ago
    > That's a $221 million loss in 2021 That was down to a one-off $800M lawsuit settlement. They technically made $580M profit in 2021.
    - xcv123 3y ago
      "Technically" that is a $221M loss in 2021. In 2020 they lost $1.1 billion. 2018 and 2019 were the only profitable years in the 10 years prior to 2022 [0]. From 2018 to 2021 they nearly doubled the number of employees from 3920 to 7500 [1]. Jack Dorsey regretted it and apologized for over-hiring [2]. [0] https://www.statista.com/statistics/274563/annual-net-income-of-twitter/ https://www.statista.com/statistics/274563/annual-net-income... [1] https://www.statista.com/statistics/272140/employees-of-twitter/ https://www.statista.com/statistics/272140/employees-of-twit... [2] https://www.theguardian.com/technology/2022/nov/05/twitter-elon-musk-jack-dorsey-apology https://www.theguardian.com/technology/2022/nov/05/twitter-e...