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And revenue has dropped through the floor: https://fortune.com/2024/08/15/elon-musk-tesla-stock-sale-twitter-x-advertiser-boycott-finances-bradford-ferguson/ h

by ijk 2y ago

And revenue has dropped through the floor: https://fortune.com/2024/08/15/elon-musk-tesla-stock-sale-twitter-x-advertiser-boycott-finances-bradford-ferguson/ https://fortune.com/2024/08/15/elon-musk-tesla-stock-sale-tw... https://mashable.com/article/twitter-x-revenue-falls-x-payments-plans https://mashable.com/article/twitter-x-revenue-falls-x-payme...

ben_w 2y ago
That's one error it can survive, given who owns it.
- smcl 2y ago
  He can afford it as long as the stock market remains convinced Tesla deserve to be the most valuable car company in the world while being outside the top ten in sales ...
  - mensetmanusman 2y ago
    Tesla is a battery company that sells cars.
  - ben_w 2y ago
    Even then; so far as I can see (which is limited) he's also making bank from SpaceX.
    - jordanb 2y ago
      How do you figure? SpaceX needs about a billion dollars of new capital injection every 18 months or so..
      - ben_w 2y ago
        Last I heard, it was making a profit despite spending about 5bn on Starship: https://archive.ph/20230817224420/https://www.wsj.com/tech/behind-the-curtain-of-elon-musks-secretive-spacex-revenue-growth-and-rising-costs-2c828e2b https://archive.ph/20230817224420/https://www.wsj.com/tech/b... (I count "can make Starship on the side" as a QED of "making bank"). Regardless of how Starship concludes, when it does so it saves them ongoing costs, and turns "small profit" into "huge profit": either Falcon becomes redundant, or the R&D team does.
- H8crilA 2y ago
  Profit is the whole point of owning a company, unless it's run by an oligarch, like is the case with Twitter. Not too dissimilar from Abramovich or another Sheriff from Moldova owning a sports club.
ajhurliman 2y ago
That first article entirely revolves around some random finance bro’s idle speculation in a YouTube comment. It blows my mind that people are so trusting of obvious guess work given that it’s a privately held company that’s not disclosing their financials.
- aw1621107 2y ago
  > That first article entirely revolves around some random finance bro’s idle speculation in a YouTube comment. I'm not sure that's a wholly accurate description? The article appears to point to sources beyond that singular comment - in particular, ostensible internal financial information: > Ferguson based his assessment on internal second-quarter figures recently obtained by the New York Times. According to this report, X booked $114 million worth of revenue in the U.S., its largest market by far. This represented a 25% drop over the preceding three months and a 53% drop over the year-ago period. > That already sounds bad. But it gets worse. The last publicly available figures prior to Musk’s acquisition, from Q2 of 2022, had revenue at $661 million. After you account for inflation, revenue has actually collapsed by 84%, in today’s dollars.

by ijk 2y ago

ben_w 2y ago

That's one error it can survive, given who owns it.

smcl 2y ago
He can afford it as long as the stock market remains convinced Tesla deserve to be the most valuable car company in the world while being outside the top ten in sales ...
- mensetmanusman 2y ago
  Tesla is a battery company that sells cars.
- ben_w 2y ago
  Even then; so far as I can see (which is limited) he's also making bank from SpaceX.
  - jordanb 2y ago
    How do you figure? SpaceX needs about a billion dollars of new capital injection every 18 months or so..
    - ben_w 2y ago
      Last I heard, it was making a profit despite spending about 5bn on Starship: https://archive.ph/20230817224420/https://www.wsj.com/tech/behind-the-curtain-of-elon-musks-secretive-spacex-revenue-growth-and-rising-costs-2c828e2b https://archive.ph/20230817224420/https://www.wsj.com/tech/b... (I count "can make Starship on the side" as a QED of "making bank"). Regardless of how Starship concludes, when it does so it saves them ongoing costs, and turns "small profit" into "huge profit": either Falcon becomes redundant, or the R&D team does.
H8crilA 2y ago
Profit is the whole point of owning a company, unless it's run by an oligarch, like is the case with Twitter. Not too dissimilar from Abramovich or another Sheriff from Moldova owning a sports club.

ajhurliman 2y ago

That first article entirely revolves around some random finance bro’s idle speculation in a YouTube comment. It blows my mind that people are so trusting of obvious guess work given that it’s a privately held company that’s not disclosing their financials.

aw1621107 2y ago
> That first article entirely revolves around some random finance bro’s idle speculation in a YouTube comment. I'm not sure that's a wholly accurate description? The article appears to point to sources beyond that singular comment - in particular, ostensible internal financial information: > Ferguson based his assessment on internal second-quarter figures recently obtained by the New York Times. According to this report, X booked $114 million worth of revenue in the U.S., its largest market by far. This represented a 25% drop over the preceding three months and a 53% drop over the year-ago period. > That already sounds bad. But it gets worse. The last publicly available figures prior to Musk’s acquisition, from Q2 of 2022, had revenue at $661 million. After you account for inflation, revenue has actually collapsed by 84%, in today’s dollars.