Elon Musk Buys Twitter

[Edge-]

44 billion to "barely break even" with no real outlook for growth?

my my my

[Bwgmon]

IN LEAKED EMAIL, ELON MUSK ADMITS DEFEAT ON TWITTER

Banks, that loaned multi-hyphenate billionaire Elon Musk an appreciable $13 billion for his ill-advised $44 billion acquisition of Twitter in late 2022 are getting ready to offload billions of debt they accrued as a result, the Wall Street Journal reports.

The hope is to minimize the hurt as they sell off the debt, a massive scar haunting the mercurial CEO's disastrous social media platform shopping spree.

And after a chaotic couple of years, and Musk seemingly doing his best to wipe out what was left of the platform's largely ad-dependant revenue with increasingly erratic behavior, X-formerly-Twitter's finances have yet to recover. The company is still drowning in accumulated debt while loaners are struggling with massive interest payments.

In short, the financials are still looking pretty dire — as Musk himself admitted in a January email to staff reviewed by the WSJ.

"Our user growth is stagnant, revenue is unimpressive, and we’re barely breaking even," he admitted.

Musk's own actions, including racist tirades, tantrums, and personal insults, sent advertisers — the platform's top source of revenue — running for the hills.

But as the increasingly hate speech-filled microblogging site continues to embrace what it claims to be "free speech," several key competitors, including Meta's Threads and Twitter alternative Bluesky, have emerged.

Both platforms have seen a dramatic influx of new users fleeing Twitter, indicating widespread disillusionment with Musk's disdain for content moderation and embrace of the extreme far right.

Now that Musk has catapulted himself onto the political world stage by throwing himself at Trump's feet, banks are seemingly seeing this moment as an opportunity to sell their debt without incurring huge losses.

In short, Musk's acquisition of Twitter remains a major blemish on his resume.

At the same time, the platform has turned out to be a powerful tool for pumping out a firehose of hate speech, state propaganda, and disinformation. And who knows how much that's worth to Musk or Trump?

Never thought much about Musk before he showed how he glories in being an asshole.

May the hole he's digging get ever deeper.

[Shadowferal]

Maybe he took a few cues from Trump regarding business management.

[Edge-]

Maybe he took a few cues from Trump regarding business management.

i mean, this is just what happens when elon actually runs a company

this is why he doesn't run tesla or spacex or his companies that are actually doing well, he uses his apartheid and paypal dollars to hire competent people, because he's a poser idiot and also a nazi too

this is why his "vegas hyperloop" is literally a one-lane tunnel with human beings driving teslas down it which is one of the most ineffective methods of moving people underground possible

[Belize]

44 billion to "barely break even" with no real outlook for growth?

my my my

44 billion to fire 3/4 of the employees, cut down on infrastructure and still barely break even*

[Rasulis]

44 billion to fire 3/4 of the employees, cut down on infrastructure and still barely break even*

He must have hired some very creative CPAs to come to that conclusion.

[Edge-]

He must have hired some very creative CPAs to come to that conclusion.

what if he's just talking about operating costs and not debt payments etc.? because that seems reasonable, and I'd be beyond shocked if it was even remotely close to generating enough revenue to cover the interest even

[gondrin]

So, the Nazi gesture pushback is getting to Musk. His own algorithm pretty much is pushing it right in his face.

Hey Musk, if you didn't want pushback, you should have never done it. Even after a few weeks, people need to keep pushing it into his face over and over again.

https://x.com/elonmusk/status/1882591207026512033

[PACOX]

I forgot Some More News put on this beautiful video months ago

[gondrin]

Oh, on a side note, since his big coming out moment, Musk's Net worth has dropped about 1.5% or has lost about 7.1925 billion dollars

[tikcol]

Maybe he took a few cues from Trump regarding business management.

We might agree here. As the richest man on earth, taking advice from Trump on business management might have helped him.

I wouldn't be surprised he thoroughly read The Art of the Deal.

[Shadowferal]

We might agree here. As the richest man on earth, taking advice from Trump on business management might have helped him. I wouldn't be surprised he thoroughly read The Art of the Deal.

Considering Trump is a failed businessman several times over, and Musk just lost billions you maybe right.

[Draco-Onis]

May the hole he's digging get ever deeper.

It doesn't matter he has the US government in his back pocket, at any time Elon can "suddenly" get a multi billion dollar government contract to bail him out. Whether it's part of the 500 billion welfare check to AI or the Pentagon handing him a contract to murder some brown people in the middle east. Elon is too big to fail.

[postman1782]

We might agree here. As the richest man on earth, taking advice from Trump on business management might have helped him.

I wouldn't be surprised he thoroughly read The Art of the Deal.

Only if he wants to run it into the ground, and Trump has never read the Art of the Deal.

But judging by Tesla stock, from yesterday, its down almost $6 a share yesterday, and $47.55 for the month.

[Cthulhu 2020]

We might agree here. As the richest man on earth, taking advice from Trump on business management might have helped him.

I wouldn't be surprised he thoroughly read The Art of the Deal.

Trump being the only known man in history to bankrupt a casino without interference, a business that famously is so hard to bankrupt - so easy to squeeze money out of people - that nearly every country has banned or heavily regulated gambling.

He bragged about being a billionaire, but when we got our hands on his tax returns we found he might have had assets, he had more debt than assets, including debt to Deutsche Bank.

The guy was born to a millionaire New York Real Estate mogul who gave his son millions in cash. When Trump's casinos were failing early on, his father came to one of Donald's casinos, bought a million dollars in chips and then just left without using them, effectively giving his son a million dollars.

Trump's true business model is to paint shit with gold paint and sell it to stupid people for $100 using the charisma he has over stupid people. He's famously conned thousands of people out of money, and even during his first term his website was selling plastic gold painted bouillon bars (stamped with TRUMP) for two hundred dollars.

And now? He's using the government to line his pockets once again. He just rugpulled some crypto memecoin and got a $30B payout at the expense of everyone who bought the memecoin.

AI is a financial disaster, but he's pumping $500B of taxpayer dollars to keep it alive because he wants to use the surveillance technology in AI.

You know that famous trope trick where someone puts on a show and has an accomplice stealing wallets in the audience? That's you guys with Trump. He's cruelly deporting undocumented migrants, legal migrants, asylum seekers, and even legal US citizens who just look too hispanic and yall are clapping like seals at the show being put on while they take taxpayer dollars to line their own wallets.

[zorkuus]

We might agree here. As the richest man on earth, taking advice from Trump on business management might have helped him.

I wouldn't be surprised he thoroughly read The Art of the Deal.

If he wants to tank his business then taking advice from Diaper Don will be the best strategy.

[Mazza]

AI is a financial disaster, but he's pumping $500B of taxpayer dollars to keep it alive because he wants to use the surveillance technology in AI.

While that $500B is supposed to come from private sources, he did commit to making sure the energy infrastructure will be there in Texas, where these investments are supposed to take place. Texas, that is in the news yearly due to their failing power infractructure because of the GOP's disastrous choices there.

[Edge-]

While that $500B is supposed to come from private sources, he did commit to making sure the energy infrastructure will be there in Texas, where these investments are supposed to take place. Texas, that is in the news yearly due to their failing power infractructure because of the GOP's disastrous choices there.

"ChatGPT is currently down because Texas is cold. We apologize for the convenience."

[Captain N]

"ChatGPT is currently down because Texas is cold. We apologize for the convenience."

Correction.

"Governor Abbot has ordered rolling brown outs throughout residential neighborhoods in the state this winter, so that ChatGPT and other AI have ample power to function profitably...ahem we mean function properly"

[Edge-]

Correction.

"Governor Abbot has ordered rolling brown outs throughout residential neighborhoods in the state this winter, so that ChatGPT and other AI have ample power to function profitably...ahem we mean function properly"

Don't worry, that's why they brought in those crypto miners - to give them excess electrical grid capacity.