this post was submitted on 30 Sep 2024
1118 points (97.1% liked)

Technology

58712 readers
3986 users here now

This is a most excellent place for technology news and articles.


Our Rules


  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots


founded 1 year ago
MODERATORS
 

"Fidelity is currently valuing X at about $9.4 billion"

I found this funny.

(page 3) 50 comments
sorted by: hot top controversial new old
[–] [email protected] 62 points 2 weeks ago (21 children)

We knew this was going to happen before he made the purchase.

Everyone said, the best way for Elon to keep his money was to change very little, or even take a hands-off approach.

Masnick suggested this would happen

It was that and so much worse. Moral of the story: Running a huge social media service is hard. Maybe don't assume that because you're a billionaire you're the best at doing stuff.

load more comments (21 replies)
[–] [email protected] 27 points 2 weeks ago (3 children)

Didn't he pay too much for it in the first place?

load more comments (3 replies)
[–] [email protected] 12 points 2 weeks ago

That's a good start, now keep going

[–] [email protected] 26 points 2 weeks ago

Posts about value are ads. Stop give exposure to this guy or his companies

[–] [email protected] 23 points 2 weeks ago (1 children)

Let’s everyone point and laugh. It humbles people like him, right?

[–] [email protected] 10 points 2 weeks ago (1 children)

I don't think many can taste the sarcasm in your comment, but you're spot on.

[–] [email protected] 12 points 2 weeks ago (1 children)

Appreciated. Yeah. That douche is the absolute worst, but everyone climbing over one another to call him out is just making him more and more relevant.

[–] [email protected] 5 points 2 weeks ago (1 children)

I tend to ignore posts about him. I wouldn't even be commenting here if I weren't just trying to see if I'm banned from this instance, or just political memes.

[–] [email protected] 3 points 2 weeks ago

I see ya loud and clear! So that’s good news!

[–] [email protected] 15 points 2 weeks ago

I remember thinking twitter was bad before he took over

It's now a complete shadow of what it was even just a couple of years ago. Just a quarter of its value seems generous

[–] [email protected] 21 points 2 weeks ago (1 children)

I doubt anybody would buy it for a tenth, tbh.

[–] [email protected] 1 points 2 weeks ago (6 children)

I'm confident you could unload the property for $4B easily enough. That's somewhere in the neighborhood of $10-100/unique user amortized out over the life of the loan, which would be a steal via any other advertising medium.

Twitter still has real value. Hundreds of millions of people still use it, even in its deplorable state. And under new management, I'm confident people would flood back in.

load more comments (6 replies)
[–] [email protected] 141 points 2 weeks ago (8 children)

Musk did not buy this as an investment. He bought it to flip elections and manipulate public opinion.

Tesla is writing him a check that will cover the entire purchase price, and Saudi Arabia and Russia will pay the operating costs.

Active users are what matters; if they lost 75% of their users then I'm paying attention.

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

If he's trying to flip elections, he needs to at least pretend it's being operated in good faith.

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

I agree 100%. Liberals retweeting how Elon is losing money is actually making him money

[–] [email protected] 27 points 2 weeks ago

Aren't 75% of the users Russian bots? Lol

[–] [email protected] 53 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

Correct me if I'm wrong but I'm pretty sure he gave an outlandish bid for Twitter to manipulate it's stock prices when he pulled put, but he was sued into following through.

I don't think he ever wanted to buy it, or at least he wanted to crash it's value to come back and buy it on the cheap.

[–] [email protected] -4 points 2 weeks ago (2 children)

Given his unlimited resources, and the world's worst people on speed dial, do you not think that the powers that be could have orchestrated that?

[–] [email protected] 19 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

If he was that competent why would he resort to openly pumping and dumping meme coins in public just prior to this stunt.

He has some dangerous strings he can pull, but that doesn't make him a good puppet master.

[–] [email protected] 4 points 2 weeks ago

Broken clock and all that

load more comments (1 replies)
[–] [email protected] 15 points 2 weeks ago

We'll never know since Musk is nurturing a state-funded "user"-base that will always keep their numbers inflated

load more comments (3 replies)
[–] [email protected] 40 points 2 weeks ago (1 children)

If they influence the election to their desired outcome, then the value won't matter. The damage will have been done.

[–] [email protected] 5 points 2 weeks ago (4 children)
[–] [email protected] 36 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

Yes, he gets a raging fascist boner every time someone fails to assassinate Trump because he thinks it's the cue to go full Nazi but really he just keeps jumping the gun and making it far too obvious deeply part of Trump's ongoing fascist takeover schemes and really not the guy we should have any significant government contracts with

load more comments (1 replies)
[–] [email protected] 19 points 2 weeks ago

Yes, trump has also offered him a spot on his cabinet

[–] [email protected] 29 points 2 weeks ago

Uhm... Yes. Like a lot.

[–] [email protected] 20 points 2 weeks ago (2 children)

A quarter is cute and all but...

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

I dont get it. Why would 1/10 be cooler than 1/4 ?

[–] [email protected] 4 points 2 weeks ago (1 children)
load more comments (1 replies)
[–] [email protected] 3 points 2 weeks ago
[–] [email protected] 1 points 2 weeks ago

Keep digging, "Leon".

[–] [email protected] 6 points 2 weeks ago

Tesla is next. I'm not sure even he can fuck up SpaceX but I'm sure he'll give it the ol' college try.

[–] [email protected] 28 points 2 weeks ago (1 children)

Musk is and always has been an incompetent yet lucky scammer.

Twitter will be bankrupt within two years.

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

!Remindme 2 Years

Ho wait it's not working here

[–] [email protected] 5 points 2 weeks ago

Still this much? Damn dude cooled off

[–] [email protected] 20 points 2 weeks ago (1 children)

Something tells me its value is not monetary for Musk.

[–] [email protected] 7 points 2 weeks ago

While probably true, this still probably gets him all wound up.

load more comments
view more: ‹ prev next ›