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>it's the Hail Mary move which could make the Twitter thing anything but a dumpster fire immolating $20b+ While Twitter wasn't making money hand over fist, it
by omegaworks 3y ago
>it's the Hail Mary move which could make the Twitter thing anything but a dumpster fire immolating $20b+
While Twitter wasn't making money hand over fist, it was bringing in $4,500million in ad revenue prior to the rebrand and had years where it was marginally profitable.
Musk's saddling Twitter with interest on the debt he paid to buy the company is one of the reasons it's immolating money.
- gwern 3y agoYeah, that's the problem. Buying it was so bad an idea and so overpriced that he had to load the blue bird down with debt. He can't just quit Twitter and toodle off and say 'well, I stopped wokeism, and that justifies destroying my reputation and 3 years even as my other ventures like Tesla run into major strategic problems while I was distracted'. So right now, Twitter is "default dead", as pg might put it. There is a viable business there... but not one that can service the Musk debt load indefinitely while enduring all the usual shocks & risks. So he's either got to put in a lot more money, tell a story which will get someone else to put in a lot more money, or lose it.