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Since Elon Musk’s Twitter purchase, firm reportedly lost 72% of its value https://arstechnica.com/tech-policy/2024/01/since-elon-musks-twitter-purchase-firm-re

• SirMaster 2y ago
  Did it need to be that valuable? To provide the service that it does, maybe it doesn't need to be that valuable or that large?
  • add-sub-mul-div 2y ago
    Is that "success?" Buying overvalued companies high and bringing the market cap down to a lower, more reasonable value?
    • SirMaster 2y ago
      No, I would not call it success, but I do think it could be some realistic outcome. The whole circumstance of having to buy it and then paying off the debt etc is kinda crazy.
• ahmeneeroe-v2 2y ago
  Correction: lost 72% of it's market cap, not "value" Elon bought himself a media company that he is using to help his preferred presidential candidate get elected. If Elon/Trump are successful, I imagine that Elon himself will impute a lot "value" to the Twitter purchase Hard to accurately value a "kingmaker" like Twitter in traditional finance terms, but Elon (and his backers who will get Tesla stock) do understand what is at stake.
  • jrflowers 2y ago
    Rather than correcting this poster on HN you may want to email the relevant people at Fidelity with your thoughts, as the actual owners of Twitter have marked down the _value_ by 72%
    • ahmeneeroe-v2 2y ago
      "Valuation" to Fidelity. My point is that Elon likely sees a different value. If Trump is elected, with Elon being is highest profile supporter, I imagine that Elon would be okay with having lost ~$33B in the Twitter acquisition. Crowning the President of the US is probably worth more than $33B to Elon.
      • jrflowers 2y ago
        Your “correction” is that you imagine that one owner might use a different word in his head to refer to the value of a company than the word that another owner committed to public record?
  • dangus 2y ago
    A billionaire using vast snowballed wealth to buy up a legitimate business and transform it into a mafia-like propaganda scheme for sale to the highest bidder may be profitable, but it isn't moral, admirable, or something we should be desiring more of. And Trump's creative campaign finance tactics should be illegal.
  • deleted 2y ago
    [deleted]
• allears 2y ago
  Tesla's not doing so well either. SpaceX is very good at launching (and catching) rockets, but that's mostly Gwynne Shotwell.
  • hollerith 2y ago
    Tesla's market cap is 692.15 billion, which is about 692 billion higher than it was when Elon started his involvement with it.
  • h0l0cube 2y ago
    Elon is 'successful' when he marshals resources to opening up new wealth markets (e.g., space, electric vehicles), but leaves those resources alone enough to actually get the job done. SpaceX is full of brilliant minds well attuned to their domain enough that Elon can't really interfere with technical operations. What he often does, is what most other CEOs don't, is entertains more ambitious and risky ideas, and he knows just enough to make worthwhile bets. On the other side of the spectrum is Twitter, where he knows just enough to interfere with everything. Tesla sits in the middle.