• 0 Posts
  • 21 Comments
Joined 2 years ago
cake
Cake day: July 1st, 2023

help-circle

















  • Twitter was never profitable until data was worth enough and even then…

    Musk tried to pump and dump the stock by saying it was worth much more than it was. Then he immediately got sued because if you manipulate the market like that and have the cash to pay, you have to or it’s considered a crime. Musk then tried to back out, shareholders threaten to sue, and he pretended he actually didnt wanna back out and bought it.

    He purchased it at twice its market value and has since not only cut 80% of staff, but also lost 80% of its original value (not the double musk paid)…

    Twitter only had value to musk because he wanted to use it as a disinformation tool to help SA/Russia/China. He immediately made it a right wing platform where this content is more valuable. It was a dumb decision, still has a dumb business plan and a fuckton of debts. The only reason it didn’t disappear completely is Musk is too rich, but it’s trending down. It’s projected to grow as the US becomes an oligarchy but not because it has real value. Musk wants to turn it into Facebook+ Cash app

    Buying twitter was all in all a terrible business move and mostly to stroke elons ego. Sadly this is “too big to fail” territory