Social 80% decline in value of X since Musk purchase according to Fidelity

[Rational Poster]

What is money to a man who could buy gold the ton and it barely but a dent into his net worth?

He's set for life.
His children are set for life.
His grandchildren are set for life.

So what does a man with all that money do?
Build influence.
And influence is a power that cannot be measured in dollars.

In most cases nowandays journalism loses money, so why did Jeff Bezos buy The Washington Post? Why does CNN still function although its ratings are in the gutter?
Why is Mark Zuckerberg not only one of the richest men in the world, but also one of the most powerful?... because of Facebook & Instagram.

All examples of the rich using their wealth to buy influence, and despite the headlines of X's supposed value being lowered its a privately owned company, so what they say its worth is irrelevant unless Musk wants to sell it.

And I doubt he's going to sell it for less than what he paid for it.

 

[GearSolidMetal]

Whats the valid criticism?

The OP is about twitter's supposed drop in value.

But compare its daily & monthly user numbers and its second only to Facebook & Instagram, and its still doing a decent job at maintaining advertisers.

So, whats the bullet I'm supposedly jumping infront of for Elon Musk?

 

[Cajun]

I don't think it's a money base, it's a base of people he can manipulate, no different than Trump. I think @Cajun is a great guy but he's giving Musk way too much credit when it comes to character and moral fiber.

Awe I don't know the man so I can't make definitive statements on him but he doesn't appear to live extravagantly. He has been wildly successful in his ventures. Tesla makes money while groups like Ford lose a fortune. He took on something that he wanted more open dialogue so he bought twitter likely against all his advisors. I don't know whether he has bad intentions or not but doesn't seem to. Seems like his efforts aren't for harm. He is helping Australia get away from fossil fuels etc. I know of course there are profits there but he is definitely impacting the world.

I see musk like the covid vaccine. Before the election the left thought Trump was making it out of his basement. After the right flipped and acted like Biden was out to harm them. Musk was hailed as an innovator and advancing green energy but when political leanings were known he is the rights hero and the lefts thorn. I don't know what the right thought of him before all of this but likely either nothing or negative (may be wrong here). Now he's a hero. Feelings on him now all depend on the political spectrum.

 

[Croo67]

Yet no other platform has been able to overtake X.

I love how liberals crow on about the advertisers pulling out because X now allows 'right wing' posts... whilst simultaneously portraying themselves as some sort of rebels who challenge the establishment... by parroting the same views they acknowledge the establishment holds.

 

[Rational Poster]

Whats the valid criticism?

The OP is about twitter's supposed drop in value.

But compare its daily & monthly user numbers and its second only to Facebook & Instagram, and its still doing a decent job at maintaining advertisers.

So, whats the bullet I'm supposedly jumping infront of for Elon Musk?

That he let his ego get in the way and overpaid for twitter and then ran it into the ground.

Now you're trying to claim that he meant to lose tens of billions of dollars on the deal.

If that's true, why did he try to get out of the deal that he overbid on?

 

[GearSolidMetal]

That he let his ego get in the way and overpaid for twitter and then ran it into the ground.

He's ran it.... the way he wants to run it.... because he owns it.

Now you're trying to claim that he meant to lose tens of billions of dollars on the deal.

He paid for a social media network, and he got a social media network.

Doesn't look like he's interested in selling it so what matters is how much its worth to him.

If that's true, why did he try to get out of the deal that he overbid on?

What's the most money you've ever spent on something at one time, Rational?

A down-payment on a car? A house? Or paying for a cheap car in full?

Whatever your answer is, it would be completely reasonable for you to have second thoughts before actually writing the check.

Now multiply that amount by a few million, and chances are Musk's situation may be a bit more relatable.

 

[ColemanwastheGOAT]

Not really sure why there's a celebration amongst leftists anytime it's reported that Twitter has lost money. It's not really a gotcha. Musk is on record saying he doesn't care if Twitter loses money.

I think it's hard even for regular working people to understand how a guy worth $200B+ thinks about stuff like this, let alone unemployed video game addicted weirdos like the lefties that post here.

 

[Rational Poster]

He's ran it.... the way he wants to run it.... because he owns it.




He paid for a social media network, and he got a social media network.

Doesn't look like he's interested in selling it so what matters is how much its worth to him.


What's the most money you've ever spent on something at one time, Rational?

A down-payment on a car? A house? Or paying for a cheap car in full?

Whatever your answer is, it would be completely reasonable for you to have second thoughts before actually writing the check.

Now multiply that amount by a few million, and chances are Musk's situation may be a bit more relatable.

He overpaid for a social media network, and then tried to back out of the deal claiming they lied about the bots, claimed he was buying to take care of the bots, then he didn't take care of the bots.

He didn't just have second thoughts prior to purchasing, he had second thoughts after he already made a legally binding offer to buy the company. lmao

You're such a weirdo

 

[CubicleGangster]

Awe I don't know the man so I can't make definitive statements on him but he doesn't appear to live extravagantly.

The billionaire who flies around the world in private jets, parties on yachts, and hangs out with celebrities doesn't live extravagantly?

He took on something that he wanted more open dialogue so he bought twitter likely against all his advisors.

No he didn't it. He offered to buy it as a joke, got stuck with the deal even though he tried extremely hard to back out, and has now spent his time with it forcing his tweets on others in some desperate attempt to be seen as a meme master. Everything about this has been self serving for his own ego. This idea that he's a billionaire out to save the world is something I'd expect children who read comic books to believe. He is nothing more than a brilliant investor trying to enrich himself and boost his ego.

 

[Madmick]

Go woke to broke amiright

Yes, precisely!! Ding ding ding!!!

Have the lights come on?? Are you just now getting this? Elon openly vomiting up red hat nonsense everyday on a platform he owns has been bad for business. Just like virtually every woke movie, tv show, or videogame has been a commercial disaster over the past 8 years. The more woke the more broke. Woke, redpilled. Both the same. Both are poison pills in entertainment companies.

What @Rational Poster said was right, it was never worth $44bn, more importantly, it wasn't a sustainable business when he bought it, that's why they sold, they wanted out. Could you imagine trying to buy Tiktok or Apple or Google or Facebook/Instagram (I refuse to call it "Meta")? LMFAO. Theyr'e not selling. Nobody who owns of one of these tech gold mines is selling. Maybe he'll be able to make it profitable on a much smaller scale. I'm sure he'd be happy with that.

 

[Cajun]

The billionaire who flies around the world in private jets, parties on yachts, and hangs out with celebrities doesn't live extravagantly?



No he didn't it. He offered to buy it as a joke, got stuck with the deal even though he tried extremely hard to back out, and has now spent his time with it forcing his tweets on others in some desperate attempt to be seen as a meme master. Everything about this has been self serving for his own ego. This idea that he's a billionaire out to save the world is something I'd expect children who read comic books to believe. He is nothing more than a brilliant investor trying to enrich himself and boost his ego.

Noone signs papers as a joke..... you cant just say it. I didn't say he's out to save the world. But he is in fact doing things that impact the world in a positive way. The rest of the opinion on his character I will leave that alone of course.

 

[CubicleGangster]

Noone signs papers as a joke..... you cant just say it. I didn't say he's out to save the world. But he is in fact doing things that impact the world in a positive way. The rest of the opinion on his character I will leave that alone of course.

This is a dude who got sued for fraud by the SEC because he set his stock to a meme price of $420. He absolutely does things as a joke because he is that desperate to be liked and to be seen as some hilarious dude.

 

[Cajun]

This is a dude who got sued for fraud by the SEC because he set his stock to a meme price of $420. He absolutely does things as a joke because he is that desperate to be liked and to be seen as some hilarious dude.

Well then he pulled a 44 billion dollar joke that he knew once he signed was binding. Again, you are making assumptions. There is no way to have a back and forth imo. I don't love the man but respect what he's accomplished and believe he's had a net positive impact. I don't get on Twitter and don't care if it goes away forever. I don't think there is a net positive to any of that platform. But yes overall I think he has done some incredible things and is a natural problem solver. I like that as well.

 

[CubicleGangster]

Well then he pulled a 44 billion dollar joke that he knew once he signed was binding. Again, you are making assumptions. There is no way to have a back and forth imo. I don't love the man but respect what he's accomplished and believe he's had a net positive impact. I don't get on Twitter and don't care if it goes away forever. I don't think there is a net positive to any of that platform. But yes overall I think he has done some incredible things and is a natural problem solver. I like that as well.

We can't have a back and forth because you are ignorant on the man's history and actual accomplishments. We've actually had this discussion before and I had to keep correcting you on things. And yes he did pull a 44 billion dollar joke and it blew up in his face. Why do you think he fought so hard to cancel the deal? Because he realized he fucked up.

 

[Rational Poster]

Yes, precisely!! Ding ding ding!!!

Have the lights come on?? Are you just now getting this? Elon openly vomiting up red hat nonsense everyday on a platform he owns has been bad for business. Just like virtually every woke movie, tv show, or videogame has been a commercial disaster over the past 8 years. The more woke the more broke. Woke, redpilled. Both the same. Both are poison pills in entertainment companies.

What @Rational Poster said was right, it was never worth $44bn, more importantly, it wasn't a sustainable business when he bought it, that's why they sold, they wanted out. Could you imagine trying to buy Tiktok or Apple or Google or Facebook/Instagram (I refuse to call it "Meta")? LMFAO. Theyr'e not selling. Nobody who owns of one of these tech gold mines is selling. Maybe he'll be able to make it profitable on a much smaller scale. I'm sure he'd be happy with that.

Fuck all those losers, I would want to buy onlyfans their business is actually insane rn.

They only have like 40 employees.

 

[TeTe]

It's always been the toilet of the internet so I'm surprised it was ever worth as much as it was. Not surprised Elon ran it into the ground.

 

[Cajun]

We can't have a back and forth because you are ignorant on the man's history and actual accomplishments. We've actually had this discussion before and I had to keep correcting you on things. And yes he did pull a 44 billion dollar joke and it blew up in his face. Why do you think he fought so hard to cancel the deal? Because he realized he fucked up.

Ok bud.... thanks for the opinions. You will make excuses for his success and I get it. Now that the politics don't align it's typical.

 

[DoctorTaco]

His “sources” for these numbers are a couple of pro musk accounts on the platform musk owns. Seems legit.

 

[CubicleGangster]

Ok bud.... thanks for the opinions. You will make excuses for his success and I get it. Now that the politics don't align it's typical.

That is not what is happening here at all and this is kind of chicken shit way of hand waving what I am saying.

 

[Hog-train]

I was always a bit confused why Musk bought Twitter and why he overpaid by so much.

I did a bit of digging.

There's good reason to believe he never intended to actually go through with the deal, he just wanted an excuse to dump a ton of Tesla stock without raising alarms among investors (see April 29 on that timeline). At the same time, his grandstanding about "free speech" on Twitter was all about garnering more fame and stroking his ego.

So to back up: Musk talks mad shit on Twitter and knows that certain buzzwords are very popular with the right wing and a certain class of dorks online. He buys a significant chunk of Twitter because wants to inflate its value and then sell his shares. In order to get that value inflated, he makes an oversized offer to buy the company (that he doesn't intend to go through with). This also serves his ego and garners lots of attention, which he loves. He then dumps the Tesla stock under the auspices that the money would be used to buy Twitter. Why did he want to dump the stock? I don't really know, presumably he believed that it would soon decrease in value.

Twitter adopts a poison pill provision to prevent the Musk acquisition. A poison pill allows current stockholders to purchase additional shares at a discounted price, diluting the shares owned by Musk and making it more expensive for him to buy the company.

Next, because he didn't really want to buy the company, he claims Twitter has more bots than the company admitted/acknowledged when he made the offer. Analysts suspect this is a move to wriggle out of the deal (again, see the timeline above). Twitter suspects the same and takes him to court to enforce the terms of the deal. He recognizes that he cannot win in court and acquiesces.

All this maneuvering reduces the value of Twitter, so he ends up buying it for way more than it's worth. He then proceeds to tank the company and the platform. Now he's trying to bring the company to profitability for the first time in it's history.

Although I don't think a messaging platform of this kind can ever be super profitable, it is super influential.

He was correct that Twitter was doing censorship at the request of government. The evidence for that is pretty clear cut.