Elon Musk offers to buy Twitter for 43 Billion

[iamgine]

Elon has tried a lot of things. Some succeeded, some failed. Still, he's rich beyond belief so he can afford to do so.

[SaltyMeatballs]

It is mind boggling how bad this deal was for Musk. Twitter/X is estimated to be worth $9B now, he paid $44B. To make that $44B purchase, he had to take out $13B in loans. The loans alone are bigger than Twitter's value. The interest payments on those loans alone are estimated to be ~$1.2B annually.

It gets worse, his Twitter Blue subscriber features has proven to be a failure. When he first implemented the feature there were 150,000 subscribers, today that number is down to just 40,000. A tiny fraction of Twitter's total base. Those subscribers bring in ~$4M a year. No not Billion, JUST $4 MILLION. Which doesn't even put a tiny dent in Twitter's interest payments alone.

On top of that he has lost half of his ad revenue, and due to his inability to stop opining right wing schtick, they won't be returning anytime soon. And CEO Linda Yaccarino just made public that Twitter/X's daily active users have declined.

The company is in a dire situation, and if things don't drastically change within the next few years, it will collapse.

Elon done ****ed up with this purchase and ran Twitter into the ground

[RRR3]

Elon done ****ed up with this purchase and ran Twitter into the ground

All he had to do was maybe bring back fleets and give people a popular new feature or two and he would have been widely praised. He's just not very smart.

[FultzNationRISE]

Musk got rich from paypal before most americans knew what the internet was. He got rich from tesla by pushing electric vehicles before they were on most companies’ radars. He got rich with SpaceX by having rockets ready for NASA during the recent space push.

I dont have any opinions about him personally or politically but what is clear is he’s a long term, big picture thinker. It was plain to see even for the average person that Twitter did not have a strong profit model before he bought the company. Surely this did not escape Musk’s notice before he put 44 billion into it. I highly doubt he made the move for a short term financial gain. He likely made the move for bigger picture reasons that I could speculate on, but wont (not here anyway), and which ordinary observers just dont have the foresight to really appreciate.

[Media Moderator]

Elon has tried a lot of things. Some succeeded, some failed. Still, he's rich beyond belief so he can afford to do so.

Platforms come and go. Idiots here blaming Elon Musk allowing more right wing voices to be heard as it's downfall. If that were the case Zuckerberg's "Twitter Killer" Threads would be doing fantastic but it's active user base has dropped 85% since it's launch.

Elon Musk clearly doesn't give AF, he changed the name which he knows is bad for business. He also publicly said he planned to get rid of bots which is also bad for business

On the plus side it's gaining him a huge base. It seems like one day he may run for office and he has single handedly destroyed the liberal narrative that social media curbing right wing voices isn't a free speech violation because they are working with the government or that they don't hold a bias themselves. He proved without a doubt that liberals were 100% wrong in that regard

[BurningHammer]

It's fascinating that everything that is going wrong in the US, or even the world, can be circled back to Biden, Democrat and the Left.

[Patrick Chewing]

It's fascinating that everything that is going wrong in the US, or even the world, can be circled back to Biden, Democrat and the Left.

That's not wrong.

[jstern]

Musk got rich from paypal before most americans knew what the internet was. He got rich from tesla by pushing electric vehicles before they were on most companies’ radars. He got rich with SpaceX by having rockets ready for NASA during the recent space push.

I dont have any opinions about him personally or politically but what is clear is he’s a long term, big picture thinker. It was plain to see even for the average person that Twitter did not have a strong profit model before he bought the company. Surely this did not escape Musk’s notice before he put 44 billion into it. I highly doubt he made the move for a short term financial gain. He likely made the move for bigger picture reasons that I could speculate on, but wont (not here anyway), and which ordinary observers just dont have the foresight to really appreciate.

Where can we go to read your speculation?

[tontoz]

Here is a list of all the updates on X this year. There are so many it takes a long time just to skim through them:

https://techcrunch.com/2023/09/19/el...-need-to-know/


And that has been done while firing roughly 80% of Twitter's employees.

[tontoz]

Elon Musk, the world’s richest person according to Forbes 400, often captures headlines with his futuristic ambitions. From leading groundbreaking companies like Tesla Inc. and SpaceX to dabbling in neural technologies with Neuralink Corp., Musk epitomizes technological innovation.

But recent comments from Grimes, his on-again, off-again partner, portray a surprisingly frugal personal life that contrasts sharply with his larger-than-life business ventures.

In a 2022 interview with Vanity Fair, Grimes said that Musk sometimes lives "below the poverty line." Most notably, when the couple discovered a hole in her side of the mattress, Musk suggested bringing over a mattress from her home rather than buying a new one. "Like, Bro wouldn't even get a new mattress," Grimes told Vanity Fair.

Further elaborating on their living conditions, Grimes mentioned living in a $40,000 house that was "very insecure," to the point where neighbors would film them. "I’m eating peanut butter for eight days in a row," she said, suggesting a starkly modest lifestyle.

This level of frugality isn't common among billionaires, even among those known for their fiscal restraint. Warren Buffett, for example, still lives in the same house he purchased decades ago for $31,500, but he hasn't been reported to forgo basic household amenities like a functional mattress.

https://www.yahoo.com/finance/news/e...165332334.html

[Baller234]

I have to say, the X rebrand was just a total dogshit idea.

Love Elon, big fan. Love that he restored free speech (mostly) to the platforn.

But wow, what a braindead retarded idea. If you're so committed to X, have that be the parent company like Google did with Alphabet. They didn't just decide out of the blue to rebrand Google as something else.