this post was submitted on 09 Mar 2024
966 points (97.2% liked)
Technology
59161 readers
2119 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
You’re telling me the company that once had ads for T-Mobile and Volkswagen and now almost exclusively has ads where random bots with NFT photos advertise ChatGPT ‘services’ isn’t doing well financially??
It's important to note that "doing well financially" isn't just revenue and user count, it's also expenditures. If Twitter has managed to cut costs by more than whatever its income has dropped by then that could well be a good outcome for it, I've heard it wasn't profitable when Musk took it over.
It's kind of ironic how big companies are frequently criticized for fixating on "endless growth" and "line goes up", and then when a company or organization sheds that it also looks bad.
Twitter has 1.3 Billion / in interest payments alone as it took on $13,000,000,000 in debt for the honor of being bought out by Elon Musk.
The owners of that debt have been quaking in their boots all last year. As Bankruptcy proceedings would make them the new owner of Twitter.
Note that Twitter made $5 Billion revenue on its best year, and that's likely halfed or worse.
EDIT: $5 Billion revenue on its best year. Far less today and you still have all the OTHER costs going on. I'm sure Elon will prop up Twitter with Tesla ads or something but Twitter cannot stand by itself anymore.
I thought Twitter's infrastructure was going to collapse within weeks after Musk made all those cuts and changes. I was obviously wrong because Twitter's infrastructure didn't collapse. I'm not speaking to the user experience on Twitter but from a purely infrastructure perspective, Musk was right and I was wrong.
Uh-oh, you said something positive about Musk. I only said "maybe he's not as bad as it seems" and look where that got me.
Lol exactly, how dare you have a nuanced opinion!
If "lines goes up" meant things get better for the customers, the employees, and the world in general, then people would be cheering it on. Usually it means it gets worse for at LEAST one of the three, and sometimes all 3.
Here, "line goes down" is following Twitter getting worse for the customers, the users, the employees, and the world in general. So people will cheer as it crashes.
There's so much wrong with your understanding here...so I'll just point out that you're talking about Twitter as if it's still a public company, it's not.
Also, Twitter was never profitable, and it was likely never going to be profitable. But there's a big difference between their losses and projections before Musk, and after.
Which are?