A year after he bought Twitter for $44 billion, Musk thinks the company is now worth $19 billion, a 55 percent drop.
Let’s recap what he did to Twitter, I will go first:
- Changed the original name Twitter to X.
Act like a child and you get a toy, Elon.
Let’s put this another way.
That ~25 billion, heavily absorbed by foreign investors, has bought influence on worldwide events/elections and allowed those that previously hated the platform to sabotage it internally, likely to a post-election failure.
Makes you wonder to what degree we have a “useful idiot billionaire” situation, with other interests (countries?) steering the out of control train to their benefit.
It was never worth what he paid for it, and his “enlightened” changes have only made things worse in terms of value.
One big thing that must be bad for advertisers is that generally, even people without a Twitter account (I’ve never had one) generally needed to view posts from some businesses or services. So they still had people coming by and serving ads to them without an account.
But now that you cannot even see comments on a tweet and if you’re somehow able to get to a list of tweets (it usually just forces you to the login screen) you cannot get ANY useful order from it when not logged in.
Believe it or not, I think the majority of people won’t create an account with a gun to their head like this. As such, the advert revenue is already down from people like me.
Furthermore, though, I suspect businesses will eventually work out that Twitter is no longer a suitable bullhorn to use to deliver promotion information or to offer customer service, and will start to move away. That’s not going to help Twitter or their advertisers out either.
But, I don’t think he ever planned to make it profitable. I think this weird anarchy he’s iteratively implementing was what he decided to do, as soon as he was forced to finish the acquisition.
Don’t forget him allowing all the banned Neo-Nazis back on! Annealers just loved that.
Bring back shadowbanning.
Uses user data to train AI models.
Limits replies to verified users only…Elon has made so many terrible changes to Twitter. I’m happy to be out and migrate to Mastodon and WireMin since last December. Using Mastodon to track up to date news and WireMin to stay connected with a few friends who also left Twitter.
Now I just look at Twitter like it’s the house burning down across the street.
He could have just donated all of that to the Signal foundation if he wanted to protect free speech.
The worst thing he did was change the name. I mean, everyone knew twitter. Now you have to qualify it with “Musk’s X”
“X, the social networking website formerly known as Twitter”.
Maybe we should call it TSNWFKAT, like Prince did for a bit.
So close to having NSFW in it. What a shame.
X (formerly known as Twitter)
$19 billion (formerly known as $44 billion)
Let that sink in!
“Hello. Do you believe in Britta, our Lord and savior?”
I just call it Twitter.
Is anyone else surprised it’s even worth that much?
Honestly it’s probably not… Estimates aside, who would even want to buy Twitter in its current incarnation?
It still has a big enough user base and brand recognition that they could put things back on course if they really went for it. The only permanent damage is the brain drain from firing a lot of people that has experience in running twitter.
The only permanent damage is the brain drain from firing a lot of people that has experience in running twitter.
That’s like saying “he suffered no permanent damage except the removal of his spine”
all because he was dying to make that joke with the sink
It’s obscene that someone can destroy so much value and not go bankrupt. It should not be possible.
You forgot quite a significant thing when it comes to Twitter’s devalutation. Musk delisted Twitter on Nov 8 as part of his acquisition.
