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From Fidelity: Elon Musk has wiped out 72% of Twitter's value since taking over
- Arnt 2y agoAd admission: I don't understand why the valuation ever reached eleven digits.
- mlekoszek 2y agoThe promise of future value from a captive audience. The idea that no competitor could succeed because everything worthwhile is already on Twitter. A self-reinforcing network effect. IMO, this sort of held up, even with Musk's hijinks. There has been no mass migration to Bluesky, Mastodon, or Threads. The problem is, people are just moving shortform expression to video-based networks, like TikTok or Instagram.
- deleted 2y ago[deleted]
- mrweasel 2y agoTwitter was never a $44 billion dollar company. Some suggests that the real price when Musk bought it was closer to $20 billion, but I feel like that was also way to high. Twitter/X is, at best, a $500 million company. It is a niche product, and it was never going to be able to justify a valuation of tens of billions of dollars.