Elon Musk Buys Twitter

[jonnysensible]

So Musk is now trying to claim that Twitter is "breaking even"?

Is that because he broke it, and even the employees hate him now?

isnt he facing a 30bil fine in germany or something?

[ArcanaXVIII]

So Musk is now trying to claim that Twitter is "breaking even"?

Is that because he broke it, and even the employees hate him now?

It's easy to break even if you cut spending by not paying your bills.

[postman1782]

isnt he facing a 30bil fine in germany or something?

I dunno about that but he is being sued for 250 something billion.

https://www.forbes.com/sites/brianbu...h=7268c51e981f

[Breccia]

So Musk is now trying to claim that Twitter is "breaking even"?

Yes. He's lying.

Musk says Twitter is roughly breaking even, has 1,500 employees

Musk, in an interview with BBC broadcast live on Twitter Spaces, said Twitter has about 1,500 employees now, a sharp decline from "just under 8,000 staff members" it had before he took it over in October.

He says Twitter was in a $3 billion negative cash flow situation and had to take drastic actions, referring to its large-scale layoffs.

"We could be cash-flow positive this quarter if things go well," he said in the interview that attracted more than 3 million listeners, adding the company currently has all-time high user numbers.

Let's look at the evidence. I've posted multiple times that CyberTrump 2077 has very few posters, which I did by comparing them to Twitter, which has 330 million users based on high-end estimates. If literally every single one of them paid $8/month, which they weren't paying before, that would not make up $3 billion dollars.

Now, he also fired 6500 employees. It would not take a large salary for that to make up the gap, $55,000 would do it.

*ahem*

But.

There is absolutely zero evidence that literally every single Twitter user is paying $8/month. I know I'm not. I took a look around, and most of the numbers I found were from a few months ago, and they were in the hundred thousands range, not even millions. This means that even if they were each paying $1,000 a month, which I think is what businesses have to pay, it wouldn't be close to $3 billion.

And of course, several people including myself have posted the other side of the story: revenue. Twitter has been losing advertisers and not getting enough new ones to make up the gap. Even giving Musk the benefit of the doubt, that the lost advertisers is included in the $3 billion shortfall, his increase in revenue is not enough.

Musk, of course, has a vested interest in lying. For one, he doesn't want to scare his investors and/or possible replacement -- he may be looking to dump this money fire he poured gasoline on. For two, he doesn't want to scare his backers/loaners. As we've seen Trump do in the past, someone rich enough can push a loan back by claiming they're good for it. There's no reason for banks to do that if they're convinced their money is in dire peril. For three, Musk is a special snowflake and doesn't want to be seen as a loser. And for four, if he tells the truth about losing money, yet more people will jump ship, both users and advertisers.

There might be other factors that I don't know about, but the public information I have does not let Musk make up $3 billion in lost revenue.

[The Stormbringer]

It is an Elon Musk problem. Looks like he's refusing to pay people. Um, again.

Ah yes, the true secret to becoming a billionaire: convincing people you're going to pay them, getting them to do the work for you, and then just not paying them. In other words, wage theft. The secret to being ungodly rich is wage theft.

[Edge-]

https://www.npr.org/2023/04/12/11692...ed-media-label

And NPR is leaving Twitter after the bullshit Elom pulled.

This is totally the kind of stable behavior that brands and corporations love btw.

[Cthulhu 2020]

https://www.npr.org/2023/04/12/11692...ed-media-label

And NPR is leaving Twitter after the bullshit Elom pulled.

This is totally the kind of stable behavior that brands and corporations love btw.

Seems that in Elom's attempt to try and paint every media source that doesn't agree with his conservative world view as "State sponsored media" or "Bias and wrong" he's alienating them from his platform. I for one would not shed a single tear if nigh all credible news sources left twitter (along with basically everyone else who wasn't already using truth social) and a new social media site emerged as the international titan.

[Breccia]

And NPR is leaving Twitter after the bullshit Elom pulled.

Surely there's a list around somewhere...ah, here we go.

Twitter fails to report some political ads after promising transparency

"Whoa whoa whoa, that's not what you said you were going to do."

Oh goodness, did I, in a thread about Twitter, promise one thing and do another? How delightfully on-topic.

Twitter has failed to disclose some political ads running on its site since early March, according to a review of its activity by POLITICO. At least three promoted fundraising tweets were not included in Twitter’s own data, seemingly contradicting the company’s policies and raising doubts about the integrity of the platform’s data and how many other political ads could go unreported.

The tweets identified by POLITICO spanned politicians from both parties, including the accounts of Sen. John Fetterman (D-Pa.), Rep. Elise Stefanik (R-N.Y.), and Adam Frisch, the Democrat who is again challenging Rep. Lauren Boebert in Colorado’s 3rd District this cycle.

Stefanik’s tweet, which promised the opportunity to win a signed MAGA hat, included a link to her joint fundraising committee’s WinRed page, where users could donate. The tweets from Fetterman and Frisch included links to their respective campaign’s ActBlue pages. All three were labeled as “promoted” in users’ feeds and would seem to fall under Twitter’s political content policy, which allows for political ads — defined to include several types of promoted political content, including tweets that “solicit financial support” — but says they will be subject to public disclosure.

The lack of disclosure casts doubt on all of the political advertising data released by the platform and makes it hard to assess which groups are using Twitter to fundraise or sway voters ahead of 2024. It also highlights the hodgepodge of voluntary transparency efforts that experts say falls short when it comes to informing voters about who is trying to influence them online.

“Several of these social media companies have disclosure platforms that are imperfect, but at least somewhat useful, whereas Twitter is essentially non-disclosure masquerading as disclosure,” said Robert Maguire, a researcher with Citizens for Responsibility and Ethics in Washington, a nonprofit watchdog group. “It is really not a disclosure regime at all.”

So super thrilled my whore of a Rep snuck through the barrier. Yay! /s

And once again, the Elon Musk buys Twitter proves it is a political topic. Saying you'll disclose all political ads as political, but then somehow missing Trump's chief whore selling MAGA hats through WinRed? Anyone that incompetent should be fired, so I'm going with "intentional" until specifically contradicted.

"Whatever. Did you find that list or not?"

No, not really. As I mentioned before, removal of the check mark is a manual transmission, and it's only done when you stomp on the clutch. I think a lot of businesses are coasting right now. If they draw attention to themselves, they could be caught and exiled.

Case in point, Bob's Red Mill, on the grounds of "I had them for breakfast". They have a blue check mark. They have dozens of posts in the first half of November. Then, silence. I suppose they could have fired their marketing director. Or, since a lot of people left Twitter about that same time, mostly advertisers, they could have just gone dark and not bothered to delete their account. I do not know the CEO of Bob's Red Mill personally, but I'm led to believe the company's not interested in paying $1,000 a month for something they don't use.

I strongly suspect most of the departures, and that includes "we aren't paying $1000/month suck my virtual balls", are smaller companies you haven't necessarily heard of, and they don't make national news.

[Jastall]

Seems that in Elom's attempt to try and paint every media source that doesn't agree with his conservative world view as "State sponsored media" or "Bias and wrong" he's alienating them from his platform. I for one would not shed a single tear if nigh all credible news sources left twitter (along with basically everyone else who wasn't already using truth social) and a new social media site emerged as the international titan.

I'm so glad that Musk bought the platform to save us from Twitter executives stifling free speech by playing favorites.


...


Right?

[Edge-]

Seems that in Elom's attempt to try and paint every media source that doesn't agree with his conservative world view as "State sponsored media" or "Bias and wrong" he's alienating them from his platform. I for one would not shed a single tear if nigh all credible news sources left twitter (along with basically everyone else who wasn't already using truth social) and a new social media site emerged as the international titan.

The decision by Twitter last week took the public radio network off guard. When queried by NPR tech reporter Bobby Allyn, Twitter owner Elon Musk asked how NPR functioned. Musk allowed that he might have gotten it wrong.

I just love this shit. Didn't even bother to ask questions or anything. Act first, get information to inform your action after. And not even then, because NPR had to reach out to him to ask him if he knew anything about the fuckin company.

The absolute hallmark of a stable executive who will make good decisions and not be a liability to your brand.

- - - Updated - - -

I'm so glad that Musk bought the platform to save us from Twitter executives stifling free speech by playing favorites.


...


Right?

It's for the future of humanity! Or something!

Humanity is probably what he calls his penis or something. Absolute tapeworm of a human being.

[Breccia]

"Musk allowed that he might have gotten it wrong."

I love how that line's phrased in such a way that suggests "it" is "Twitter".

[Paranoid Android]

https://www.npr.org/2023/04/12/11692...ed-media-label

And NPR is leaving Twitter after the bullshit Elom pulled.

This is totally the kind of stable behavior that brands and corporations love btw.

As I stated Elmo is so brain broken that he will love this. Him and others believing that NPR is some uber left and has this great influence on politics. That while insignificant, the little government funding is somehow controlled by the Gov.

It is his site he himself with help of his now circle just want Twitter to be a echo chamber for the right and everything bad in this world is from the Left. We started out this thread of Elmo doing both sides and "look how far the left has gone"

Wait so if controlled by the government. Why didn't NPR go full Trump or Trump positive news during his organization?

[Edge-]

Man, those trips meeting almost exclusively with Republican lawmakers might pay off!

https://arstechnica.com/tech-policy/...investigation/

A Republican lawmaker who chairs a key House committee subpoenaed Federal Trade Commission Chair Lina Khan today in an attempt to rein in the agency's ongoing investigation into Twitter.

Rep. Jim Jordan (R-Ohio), chairman of the Judiciary Committee and the newly created Select Subcommittee on the Weaponization of the Federal Government, told Kahn today that his committee's research shows "the FTC harassed Twitter in the wake of Mr. Musk's acquisition" and "abused it [sic] statutory and enforcement authority."

Jordan teamed up with Sen. Ted Cruz (R-Texas) last month to demand documents from the FTC about what they called "inappropriate and burdensome demands coinciding with Elon Musk's acquisition of the company." Jordan wasn't happy with Khan's response, so he followed up with today's subpoena.

"To date, your voluntary compliance has been woefully insufficient. Accordingly, the Committee is issuing a subpoena to compel the production of documents necessary to inform our oversight," Jordan wrote in a letter to Khan today.

Republicans are looking to protect Elom and Twitter from FTC investigations. I hope it goes miserably.

- - - Updated - - -

https://twitter.com/elonmusk/status/...503019009?s=20

Man whose companies receives billions in subsidies and tax breaks from the government calls for government to "defund" a news outlet that gets .01% of their revenue from the government.

Like, NPR isn't going to tank if they lose that funding, but just rofl. What a loser.

[Candiman]

Thought this might be of interest to people here. Seems a BBC journalist reached out to Musk about the government funded label he put on the BBC. Musk said he would change the label, journo then askes for an interview and Musk actually agrees with nothing off the table as long as it's live on twitter as well.

https://www.bbc.co.uk/news/business-65248196

Interview was supposed to be about half an hour long but ended up being an hour and a half.

Link to the full interview.

https://www.bbc.co.uk/news/av/world-us-canada-65249139

[AntiFascistVoter]

Who did naught see this coming.




*chef's kiss

[postman1782]

Who did naught see this coming.




*chef's kiss

What is hilarious, is that Twitter didn't censor him, just links to substack.

[postman1782]

So, Elon blocked Anonymous, Anonymous retaliated with leaks from Elon and Tucker Carlson, with a new account. So fun.

[Cthulhu 2020]

So, Elon blocked Anonymous, Anonymous retaliated with leaks from Elon and Tucker Carlson, with a new account. So fun.

Source? Hard to google or twitter search this kind of stuff.

[Breccia]

So, Elon blocked Anonymous

Sooooo conflicted.

1) Anonymous is, in fact, a criminal. Even if you like what he does, he's a criminal.

2) But why would anyone intentionally piss off the most famous hacker on the planet, while running a social media company that's in trouble? This seems like the last fight Musk would pick on purpose.

[Breccia]

Interview was supposed to be about half an hour long but ended up being an hour and a half.

UPDATE: Musk is not happy with the interview.

1) Musk said advertisers were returning to Twitter. The BBC reporter asked him to name one returning advertiser. Musk could not.

2) After the interview, which was his idea, Musk said it "was exceptional in illustrating why you cannot rely on the media for truth." The implication being, Musk said some things in the interview he wanted to go public and they weren't shown, I think? If Musk felt the interview was edited to be misleading, he would say that or sue. So I think this statement is a Musk admission that the interview did not show him at his best, rather than it wasn't truthful. It would explain why, after complaining that "the media" isn't truthful, he would go on Carlson.

Musk doesn't want the truth. Musk wants Twitter to look good. And he has an uphill battle.

A new March 2023 forecast from Insider Intelligence suggests Twitter will bring in roughly $2.9 billion in ad revenue for 2023, after initially forecasting in October 2022 that it would earn $4.74 billion.

Another estimate from Sensor Tower suggests that Twitter's top 50 advertisers have slowed spending in the first two months of this year by nearly $20 million collectively, compared to the same time period in 2022.

Other data from Sensor Tower suggests Musk's attempt to charge users for verification hasn't led to huge revenue gains so far on mobile.

Musk keeps claiming Twitter is oh so close you gaiz to breaking even. Twitter's fine! Twitter's great! Keep giving me money! And the real world disagrees with Musk's fantasy. There is no publicly available data that suggests Twitter is making more money now, than before Musk took over.

- - - Updated - - -

Wait, there's more.

Traffic to Twitter is down 7.3 percent when compared to the same time last year.

Visits from Twitter to news sites are much further down.

As news sites and also celebrities leave Twitter in protest, Twitter loses a significant portion of its appeal. With fewer sources to follow, visits will drop further, and with fewer visits comes fewer advertisers.

Twitter feeds on itself, and it's slowly starving.