Musk acquiring Twitter...
- Thread starter TIDE-HSV
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44B for Twitter and Musk is trying to burn the blue check mark to the ground. That does not sound like a sound business plan to me.
Idiots like Musk should not have billions of dollars to his name.
Idiots like Musk should not have billions of dollars to his name.
Millions -- including moi. -- are leaving Twitter because of Musk...I don't miss it one bit. Leaves more time for TF.
Who should be worried is the banks that financed a lot of the purchase. It’s almost as though Musk is setting $44 Billion on fire.
As I remember, he pledged a lot of his own Tesla stock as collateral. The purchase closed on October 27, at which date TSLA was priced at roughly $226 a share. Yesterday, it closed at roughly $183….a drop of almost 20% in less than a month.
And that doesn’t count the value destruction of Twitter, though that’s a bit harder to quantify since it’s now privately held. Still, Musk says it’s losing about $4M a day, and we know that advertisers are bailing. So the fact that they’re maintaining tweet volume doesn’t strike me as terribly relevant.
Without geeking out too much, it costs banks a lot of money to maintain troubled loans, even if they don’t result in a charge-off. And that amount increases exponentially as the risk rating deteriorates.
In the case of Twitter, I don’t see how they (the banks) identify what’s known in the industry as a Primary Source of Repayment.
I would love to read the tortured justification for keeping a loan to Twitter out of the distressed risk ratings.
As I remember, he pledged a lot of his own Tesla stock as collateral. The purchase closed on October 27, at which date TSLA was priced at roughly $226 a share. Yesterday, it closed at roughly $183….a drop of almost 20% in less than a month.
And that doesn’t count the value destruction of Twitter, though that’s a bit harder to quantify since it’s now privately held. Still, Musk says it’s losing about $4M a day, and we know that advertisers are bailing. So the fact that they’re maintaining tweet volume doesn’t strike me as terribly relevant.
Without geeking out too much, it costs banks a lot of money to maintain troubled loans, even if they don’t result in a charge-off. And that amount increases exponentially as the risk rating deteriorates.
In the case of Twitter, I don’t see how they (the banks) identify what’s known in the industry as a Primary Source of Repayment.
I would love to read the tortured justification for keeping a loan to Twitter out of the distressed risk ratings.
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Musk has always been an enigma. I liked his tendency to dream big(PayPal, SpaceX, new technologies), but there was always an element of crazy. I figured he would finally reach his limit.
I am one who really has no use for Twitter, as in I have never posted anything there. But I do enjoy reading it. Especially for Ukraine war updates.
I am one who really has no use for Twitter, as in I have never posted anything there. But I do enjoy reading it. Especially for Ukraine war updates.
Unfortunately, the rumors of twitter's demise have been greatly exaggerated. A year from know it will still be a cesspool of ignorant twits and tweets.
Twitter is a mixed bag...sort of like life. Lots of good info and discussion...lots of junk and stupidity. For me the latter is just outweighing the former. You pays your money and you take your chances...
There has been some good information on Ukraine, and occasionally there is some good sports related information. But the vast majority of posts there are hot takes from self important people.
If you're careful about how you interface with it (just like FB, insta, etc) you'll essentially curate a feed that's exactly what you want to see. I don't mean political echo-chamber (though that happens), but generally avoiding the cesspool aspects of social media.
Takes a lot of self control to not 'like' or respond to something in the moment, but after a time you just scroll on by and the algorithm has no idea whether that tweet affected you or not. For example, this is the only site where I discuss / interface with other about politics or religion.
I enjoy social media as I've pretty much always done this.
"This guy is far beyond even the wildest daydreams of either Dunning or Kruger."
I was...I just grew tired of it...I've not been missed...
THANK YOU! I wish more people understood how algorithms work. When people jump on social media and start downvoting or disliking stuff they don't like, they are only encouraging the algorithms to show them MORE of the stuff they claim they don't want to see. Even more frustrating are the professional angry people who intentionally search out stuff that evokes a reaction and when their feed is suddenly full of more of the same, they start screaming about how the left/right is taking over everything and all they see is fake news. They don't have the slightest idea they've done this to themselves. (And God help you if you try to explain this to them. Just like that, you're suddenly "in on it.")
So “Space Karen”’s ultimatum to his employees (work harder and longer or leave) didn’t go quite like he expected.
Proof positive that being a successful CEO in one industry does not automatically mean you will succeed in another industry that requires a significantly different skill set. You’d think a genius would know that. I guess ego>>>>brain.
Proof positive that being a successful CEO in one industry does not automatically mean you will succeed in another industry that requires a significantly different skill set. You’d think a genius would know that. I guess ego>>>>brain.
It's what we're being told, yes. But so far, everything appears to be running smoothly, despite the doom-and-gloom declarations by disgruntled former employees.
People seem to forget Musk created much of his wealth via internet / data (Paypal, Zip2, Tesla, Starlink, OpenAI, Neuralink) - it's not like he's not worked with high-level software engineers before.
I didn’t forget anything - social media is a different animal altogether, and Musky is about as social as a skunk.
You're suggesting that social media software engineers are different? Because that's what my point was about. If he can keep it running from an engineering standpoint, I suspect Twitter will be just fine user-wise - and there's nothing (other than rumor) suggesting Musk cannot keep Twitter online in the short term.
Twitter was horribly overstaffed. Most of these tech companies are. I think the platform is running fine. It hasn't had any issues for me. Maybe it will all collapse tomorrow, but I doubt it. My feeling is most of those engineers were doing about 20 minutes of work a day.
Time will tell if he can make it work, but I won't bet against him. He has made stuff work that no one thought was possible. The guy decided to figure out how to land a rocket after using it. Everyone told him he was crazy. He now does it constantly. We are so used to now if something goes wrong that's the story not that it went off without a hitch.
he fired all of the content moderators and told advertisers that he was committed to content moderation. He allowed anyone to get verified that was willing to pay $8 causing Eli Lily to lose billions in market cap with one tweet.
He may be able to keep it running but if he doesn't go back to what twitter was the advertisers and corporate account users that keep Twitter 'only" losing $4m a day are not coming back.
He has effectively made it far less sustainable than it was. I hope it dies and he ends up penniless
He may be able to keep it running but if he doesn't go back to what twitter was the advertisers and corporate account users that keep Twitter 'only" losing $4m a day are not coming back.
He has effectively made it far less sustainable than it was. I hope it dies and he ends up penniless
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