nuff said
With the way he’s running this, I’m a bit confused as to why he didn’t just buy Truth Social directly. Wouldn’t have cost him nearly as much.
Dude could have created his own Mastodon insrance for practically nothing. Is he somehow even dumber than Trump?
I think the evidence speaks for itself.
I’m still convinced there is money coming in from an outside influence that is paying him to destroy Twitter, and I wouldn’t be surprised if the same thing is happening to Reddit as well
I think he thought the “Twitter files” were real and wanted them so he could be the saviour of democracy and the right wing.
He bought the users. Elon knows that people are lazy and will not change websites.
Let’s be honest Elon doesn’t care about Twitter.
He bought it with money he doesn’t have. He only increased in net worth since the takeover and has successfully done what he wanted to, destroy an organization he thought was problematic and now everyone gives even more data to Facebook.
Everyone of them won.
I think part of it is his own hubris through. His head is so far up his head by now that he though he knew better. It’s the same reason why Super Heavy destroyed itself on first launch. He thought he was smarter than his engineers and forced them to go without a proper launchpad.
Wait, the white supremacists and Nazis that he caters to aren’t making up the ad revenue? Well I’ll be!
Maybe… I don’t know, just throwing ideas out there… you shouldn’t have Musked all over Twitter nor fired its core developers? Again, just thinking out loud…
Or saddled the business with 10 billion in debt? Shit is like an ouroboros…
Remember the 50% number is just what he was comfortable with publishing to the public
We have no reason to believe his public statistics
Please don’t turn this community into another Musk news ticker.
The heavy debt load was caused by his purchase… He paid $26 bn, a couple other investors (including a Saudi prince) together paid $5 bn, the remaining $13 bn is a loan Twitter took out to buy itself on Musk’s behalf.
The purchase was always a financial death sentence. Either Twitter steps into line and becomes the propaganda tool he and his old friend Peter Thiel want, then it can have some extra investment, or Twitter dies.
I still don’t get how it’s legal for Twitter to take out a loan on itself on Musk’s behalf.
It’s a common trick the wealthy have. The idea is, if the business was under the control of its new owners, they could direct the business to get the loan. It’s what happened to Toys R Us and many other businesses.
Somewhat similarly, the UK have a way of turning a business into an “Employee Owned business”. Basically, if the business has enough cash, it can buy itself from its owners. The real shady part, though, is that the owners don’t pay any capital gains tax on the sale whatsoever. They get all their money out of the business, tax free. But yay, employee owned businesses (that are still run the same as before).
And if you try to read the financial regulations to understand it all, you’ll very quickly lose the will to live. Reading law is one thing, financial regulations are a completely different ball game.
That’s the part which is the most absurd. Extending a hypothetical to justify a 13 billion dollar loan is bonkers.
I wonder if there’s a study of how many companies this has happened to, and how many have come away from it not bankrupt after 5 years. I assume the only reason this is still legal is because the original shareholders get their payday when the company is sold, the new CEO gives themselves a great salary, bleeding the company dry and it’s just the employees who suffer when their jobs are cut, which is valued less than the shareholders and CEOs in America.
“~50% drop in advertising revenue” Hmm… What could’ve caused it (?) elon (?)
Big brain business time lol. Musk is fuckin dumb
