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Elon Musk hopes Trump victory will help his $44bn Twitter bet pay off (www.theguardian.com)

submitted 2 weeks ago by [email protected] to c/[email protected]

20 comments fedilink hide all child comments

The platform’s billionaire owner has seen its value plunge as advertisers run shy, revenues drop and user numbers fall

Two years ago, there was some trepidation among advertisers, anti-hate-speech groups and staff about Elon Musk's acquisition of Twitter.

Those concerns have been borne out: advertisers have sharply reduced spending on the platform, Musk has sued nonprofits over their coverage of a rise in controversial content and about eight out of 10 employees have been sacked.

The service, now rebranded as X, is not worth the $44bn Musk paid for it on 27 October 2022 -- later tweeting "the bird is freed" in a reference to its corporate logo. The plunge in value reflects the damage done to its advertising-dependent business model.

But its continued influence as a news source and its role as an outlet for broadcasting its owner's rightwing views to his 200 million-plus followers, means the benefit to the world's richest person does not need to be measured in financial benchmarks alone.

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[–] [email protected] 48 points 2 weeks ago (1 children)

It will, for a while, as Trump bans every other news outlet.

However, as all authoritarians do, the circle will get smaller and X will get shut down in favor of Truth Social.

[–] [email protected] 20 points 2 weeks ago* (last edited 1 week ago) (2 children)

[–] [email protected] 1 points 2 weeks ago

Here in Portugal a country of 10 million people, the "in group" with the dictator was 9 families.

Scaling it up to the US and it's 300 million people, it would be 270 families.

Absolutelly, it's a wild estimate, but it should give a decent feeling for the rough size of the in-circle under Fascism.

[–] [email protected] 2 points 2 weeks ago (1 children)

I really should've started breeding face-eating leopards. If Trump wins, the demand is going to eclipse the supply for a good few years.

[–] [email protected] 0 points 1 week ago* (last edited 1 week ago)