Elon Musk Buys Twitter

[Odinfrost]

What makes you think he wants--



...oh, right, nevermind.

... ... Did he memeify a porn video?

[PhaelixWW]

... ... Did he memeify a porn video?

2 girls 1 cup... of milk.

[Elegiac]

This will be like the 7th time this is supposedly happening but if Leon actually pulls the trigger on this one it's over for Twitter. He's already alienated a lot of Brazil over a couple of weeks with no access to Brazil. A lot of people WILL leave Twitter if he does this and him undoing the block button removal won't bring them back.

It’s also against the TOS for the app store to not have a block button, which is why this change was shot down previously and why it probably won’t go live or last very long now.

[Jessicka]

This guy's meltdown is absolutely spectacular. Its Howard Hughes in spectacular, overly public performance. Even if you don't want to watch it, he will make you observe every moment of his personal train wreck. He should be in a conservatorship by now, surely?

[Karreck]

He should be in a conservatorship by now, surely?

He's not a woman so conservatorship won't happen.

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This will be like the 7th time this is supposedly happening but if Leon actually pulls the trigger on this one it's over for Twitter. He's already alienated a lot of Brazil over a couple of weeks with no access to Brazil. A lot of people WILL leave Twitter if he does this and him undoing the block button removal won't bring them back.

One of my favorite response to this change.

[Captain N]

Tom from MySpace never had these problems. Then again Tom wasn't a Nazi sympathizer who doesn't know what free speech is.

[Edge-]

Tom from MySpace never had these problems.

Tom is the social media creator/CEO that none of us ever deserved, and we never realized it until long after he was gone. Not that this is a remotely new sentiment given that it was started by the enshitification of Facebook and all that, but it seems to get more and more true over time.

[Karreck]

Tom is the social media creator/CEO that none of us ever deserved, and we never realized it until long after he was gone. Not that this is a remotely new sentiment given that it was started by the enshitification of Facebook and all that, but it seems to get more and more true over time.

I still think Tom saw the writing on the wall about social media, so he decided to nope out with a ton of cash before he got caught up in the enshitification.

[Breccia]

Elon Musk Paid $44 Billion for Twitter. A Major Investment Firm Says It’s Now Worth Less Than $10 Billion

Fidelity Investment slashed the value of its stake in X, the social media platform formerly known as Twitter, revealing a sharp decline since billionaire tech mogul Elon Musk’s acquisition in October 2022.

Recent disclosures from the investment firm show that Fidelity’s stake in X is now worth about $4.19 million, which prices the overall company at around $9.4 billion. The figure marks a drastic drop from the $19.6 million holding Fidelity initially invested before Musk’s takeover and nearly a 79% reduction in value.

Since Musk’s purchase of X for $44 billion, the platform has experienced significant upheaval. X’s revenue plummeted by 50%, driven by what Musk described as a “massive decline” in advertising. The company has also faced criticism from users over function changes, such as the launch of a premium subscription service that offers verification badges and post-editing privileges.

The financial toll on X investors has been staggering. The eight largest investors in the platform have collectively lost $24 billion in value since Musk’s acquisition, according to The Washington Post.

Here is the WaPo story (from Sept 1) and my favorite bit.

Based on a Washington Post analysis using Fidelity’s estimates, the eight largest initial investments that were reported to the U.S. Securities and Exchange Commission or otherwise publicly disclosed are worth about $5 billion less than when Musk bought X. His and his partners’ overall stake has shed $24 billion in value — a vaporization of wealth that has little parallel outside the realm of economic or industry-specific crashes, or devastating corporate scandals.

That's not an OP ED. Someone wrote "vaporization of wealth" while trying to remain objective. Wow.

[DarkTZeratul]

Elon Musk Paid $44 Billion for Twitter. A Major Investment Firm Says It’s Now Worth Less Than $10 Billion

Here is the WaPo story (from Sept 1) and my favorite bit.

That's not an OP ED. Someone wrote "vaporization of wealth" while trying to remain objective. Wow.

Someone on Twitter commented that the amount of money he lost on Twitter is the same as the immediate cost of 9/11.

[Edge-]

Elon Musk Paid $44 Billion for Twitter. A Major Investment Firm Says It’s Now Worth Less Than $10 Billion

An interesting comparison I read elsewhere - Leon Musk pulled a 9/11 on Twitter.

The terrorist attacks of September 11, 2001 resulted not only in a huge loss of life, but inflicted enormous economic damage on New York City. The city’s comptroller assessed the total economic damage in Lower Manhattan at nearly $31 billion (Thompson, 2002).

$31B in losses/economic damage? Yep, slightly more than that, actually.

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Someone on Twitter commented that the amount of money he lost on Twitter is the same as the immediate cost of 9/11.

rofl, was looking up the exact reporting on the number, we saw the same thing probably

[Dontrike]

Elon Musk Paid $44 Billion for Twitter. A Major Investment Firm Says It’s Now Worth Less Than $10 Billion



Here is the WaPo story (from Sept 1) and my favorite bit.



That's not an OP ED. Someone wrote "vaporization of wealth" while trying to remain objective. Wow.

That's under the idea that when he paid more than 5x what it was worth, around $8 billion, that it was suddenly worth more. I'd like to see that math they did based on that initial $8 billion. I'd say like barely a billion.

[Surfd]

That's under the idea that when he paid more than 5x what it was worth, around $8 billion, that it was suddenly worth more. I'd like to see that math they did based on that initial $8 billion. I'd say like barely a billion.

But that's not relevant. It doesn't matter if it was "actually" only worth 8 billion when he bought it; he still bought it for 44 and still managed to turn that 44 into less than 10. Turning 8 billion into 1 is still FAR LESS IMPRESSIVE than paying 44 for 8 and turning that into less than 10.

[Evil Midnight Bomber]

That's under the idea that when he paid more than 5x what it was worth, around $8 billion, that it was suddenly worth more. I'd like to see that math they did based on that initial $8 billion. I'd say like barely a billion.

I've seen vastly different estimates from different sources that range anywhere between 1 billion and 30 billion. They things they all agree on though is that it wasn't worth 44 billion then and it's certainly worth less now.

[Edge-]

https://x.com/marvinvonhagen/status/1841322424568340814

So remember Leon moving Twitter's HQ to TX, mostly because he didn't want to pay the rent anymore and wasn't paying it?

Well he's still in SF where all those libs are, just moving the AI teams at Twitter into the old OpenAI building.

When asked about the "incredibly different" vibes in the responses -

significantly less girls, generally feels very much like you would expect an early elon startup to feel

openai however was super polished, felt much more like apple

Yeah, this absolutely checks out. Leon lives in the manosphere and there are no girls allowed in the manosphere.

top kek

[Karreck]

Yeah, this absolutely checks out. Leon lives in the manosphere and there are no girls allowed in the manosphere.

top kek

But who is he going to offer horses too?

[En Sabah Nur]

https://x.com/marvinvonhagen/status/1841322424568340814

So remember Leon moving Twitter's HQ to TX, mostly because he didn't want to pay the rent anymore and wasn't paying it?

Well he's still in SF where all those libs are, just moving the AI teams at Twitter into the old OpenAI building.

When asked about the "incredibly different" vibes in the responses -

Yeah, this absolutely checks out. Leon lives in the manosphere and there are no girls allowed in the manosphere.

top kek

Do you want everyone to catch cooties?!

[Breccia]

Musk blasts FCC for 'illegally' pulling Starlink award, says it would've helped victims of Hurricane Helene

FOX News link *ding*

Musk, the CEO of SpaceX, responded to a post on X from a user who noted that "North Carolina would have 19,522 working Starlink kits available today after Hurricane Helene had the FCC not revoked in bad faith the grant that was awarded to SpaceX as the winning bidder."

"Had the FCC not illegally revoked the SpaceX Starlink award, it would probably have saved lives in North Carolina," Musk wrote in his response. "Lawfare costs lives."

"What? Biden illegally pulled funding from Starlink right after the hurricane?"

No.

SpaceX's Starlink, which provides high-speed internet via satellite connections, was awarded $885 million by the FCC in 2020 to help expand high-speed internet access around the country in rural areas.

The FCC rescinded that initial award in 2022, arguing Starlink wouldn't be reasonably capable of meeting the program's requirements, and reaffirmed that decision in Dec. 2023.

An FCC spokesperson told FOX Business in a statement, "Chairwoman Rosenworcel stands by the FCC's thorough review of a program meant to provide long-term access to reliable and affordable broadband in rural communities."

He applied for funding for a project, then couldn't complete the project and couldn't demonstrate that he could. So taxpayer money was withheld from a contractor who wasn't doing their job. And yes, Musk had 2 years to prove he could do it, he didn't, had another year, and still couldn't do it.

"But Biden removed funding from Musk personally and specifically!"

No.

"In this instance, the agency denied public funds to more than a dozen companies – not just Starlink – who did not meet the program requirements. As an independent agency, the FCC takes seriously its obligation to ensure that taxpayer dollars only go to entities that fully comply with the rules and the law," the FCC statement continued.

Musk is lying because he is butthurt, and using people dying to make a political point.

[Edge-]

Musk is lying because he is butthurt, and using people dying to make a political point.

He's so fucking mad when his companies don't get government socialism that they've heavily relied upon over the years.

[Lenonis]

Musk is lying because he is butthurt, and using people dying to make a political point.

It's amazing to me that conservatives who are obsessed with "alpha male" and "traditional masculinity" nonsense hold up as two of their idols men who 1) whine like a bitch anything they face anything negative and 2) have heavily altered their appearances with cosmetic and possibly surgical means to appear more attractive. Or so they think.

It's absurd.

(I'm talking about Elon and Trump in case someone hasn't had enough coffee yet today)