Fidelity has again marked down the value of its shares in X Holdings, which the mutual fund giant helped Elon Musk buy for $44 billion when the company was known as Twitter.
By the numbers: Fidelity believes that X is worth 71.5% less than at the time of purchase, according to a new disclosure that runs through the end of November 2023 (Fidelity revalues private shares on a one-month lag).
I mean, I don’t even understand why Fidelity felt the need to join the buyout. I guess they own a lot of meta stock so figure they’ll make up the stupidity induced losses?
Elon Musk is going to crash the entire economy by himself and it’s going to be hilarious.
i think his brain interface already works, and he already had them installed in the heads of everyone who backed that deal
when the company was known as Twitter
It’s still known as twitter
Fun fact: 𝕏 is actually a Unicode symbol, so musk can’t trademark it
“Microsoft” is just a bunch of unicode symbols so it can’t be trademarked!
🙄
𝕏 is actually a Unicode symbol, so musk can’t trademark it
That’s not true, it absolutely can be a trademark. You might be thinking of copyright - he can’t copyright the current 𝕏 logo.
The rights you’d get from each protection are different and a sensible business probably would want both. Trademark protection would prevent another tech company trading as 𝕏; copyright protection for the logo would let you set terms on how it is used.
So in this case, I cannot open a company called 𝕏 that uses social media to share elons flights, but I could open a company called Elon Tracker and use the logo 𝕏?
I delighted in being able to show this headline to guests last night after we’d riffed on what an idiot Lonnie was a couple hours earlier. Lonnie-boy just keeps delivering. When he fucks up his fortune and lives in shame and disgrace I’ll be happy. Until then, I don’t want to hear about his every dumb post. But news of his company’s failure can continue. Please proceed.
