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Fiery take, but Elon eviscerated twitter and just kept kicking people out seemingly randomly. Anyone who didn't like it was encouraged walk out too on top of th

Fiery take, but Elon eviscerated twitter and just kept kicking people out seemingly randomly. Anyone who didn't like it was encouraged walk out too on top of that. Twitter was doomed and the internet was rife with how it's collapse was immanent. But he we are three years later and twitter is still running and still top dog in the message-post space. I can't help but feel that in the presence of lots of money, organizations just bloat and bloat and bloat, and all that bloat will be sure to have a long winded explanation for why it is _critical_ to stay in existence.

UltraSane 2y ago
Twitter is barely breaking even because Musk's stupid policies have chased away a lot of advertisers.
jonkoops 2y ago
Twitter is losing more money than before Musk, so I personally don't see how this is working out except as a mechanism to extract power.
- aketchum 2y ago
  twitter corporate bonds are trading at 97 cents on the dollar now, they were trading closer to 40 cents shortly after the acquisition. I would not assume they are still losing money
  - squigz 2y ago
    > shortly after the acquisition I would expect this to be a particularly low point. Can you link some data?
    - aketchum 2y ago
      "The banks marketed the deal last week with an intention to sell down the debt at 90-95 cents to the dollar but managed to price it at a higher price of 97 cents... In late 2022, an attempt to sell the unsecured loan attracted bids in the 60 cents to the dollar range which would have seen the banks take on a large loss on the face value of the debt." https://www.reuters.com/business/finance/banks-sell-down-55-bln-musks-x-debt-investors-source-2025-02-05/ https://www.reuters.com/business/finance/banks-sell-down-55-... so I was wrong to say they were as low as 40 cents, but the point stands that twitter's financials have improved a great deal
  - rurp 2y ago
    The massive interest payments he added match or exceed the entire company revenue. There is no way the company is even close to making money.
  - bagels 2y ago
    That only means that the borrowers think that the interest payments will be made.
jquery 2y ago
He also eviserated 75% of Twitter's market cap. The only metric Twitter is a success is Elon leveraged it to get Trump elected and Trump is now showering him with favors.
namuol 2y ago
> twitter is still running and still top dog in the message-post space He just hasn’t finished the job.
sanktanglia 2y ago
Twitter has become a hive of racism and hate that is a shadow of its former self. I literally can't keep racist slurs from my homepage, if you think musk has improved it since he took over man so I have a bridge to sell you

UltraSane 2y ago

Twitter is barely breaking even because Musk's stupid policies have chased away a lot of advertisers.

jonkoops 2y ago

Twitter is losing more money than before Musk, so I personally don't see how this is working out except as a mechanism to extract power.

aketchum 2y ago
twitter corporate bonds are trading at 97 cents on the dollar now, they were trading closer to 40 cents shortly after the acquisition. I would not assume they are still losing money
- squigz 2y ago
  > shortly after the acquisition I would expect this to be a particularly low point. Can you link some data?
  - aketchum 2y ago
    "The banks marketed the deal last week with an intention to sell down the debt at 90-95 cents to the dollar but managed to price it at a higher price of 97 cents... In late 2022, an attempt to sell the unsecured loan attracted bids in the 60 cents to the dollar range which would have seen the banks take on a large loss on the face value of the debt." https://www.reuters.com/business/finance/banks-sell-down-55-bln-musks-x-debt-investors-source-2025-02-05/ https://www.reuters.com/business/finance/banks-sell-down-55-... so I was wrong to say they were as low as 40 cents, but the point stands that twitter's financials have improved a great deal
- rurp 2y ago
  The massive interest payments he added match or exceed the entire company revenue. There is no way the company is even close to making money.
- bagels 2y ago
  That only means that the borrowers think that the interest payments will be made.

jquery 2y ago

He also eviserated 75% of Twitter's market cap. The only metric Twitter is a success is Elon leveraged it to get Trump elected and Trump is now showering him with favors.

namuol 2y ago

> twitter is still running and still top dog in the message-post space He just hasn’t finished the job.

sanktanglia 2y ago

Twitter has become a hive of racism and hate that is a shadow of its former self. I literally can't keep racist slurs from my homepage, if you think musk has improved it since he took over man so I have a bridge to sell you