It’s not just lemmy that’s benefiting from Elon Musk.
It’s not the rebrand that’s killing Twitter. Elon is. He’s proving to himself that he cannot, in fact, run Twitter better than the prior owners.
I wonder if previous twitter execs are feeling a bit bad to have sold him twitter to see it destroyed like that.
I mean it certainly proves Elon is an idiot as he used fraud to manipulate the price and got played instead.
But was it worth it to let him destroy Twitter just because he tried to defraud it?
They got $44 billion, double what sane people thought the company was worth. It would be irresponsible not to take Elon for a ride.
Is this migration already called xit? Because it should…
Lemmy would be soaring too if it weren’t for terrible database code allowing for easy ddos.
Hopefully they can fix that issue and the communist communities stop having hissy fits.
they’re prob ddosing themselves for failing the purity tests.
I’m sure there were a huge swath of people who used Twitter and didn’t care at all about Musk one way or the other.
Then he rebranded and threw his ego and control in everyone’s face. And all the people who like Twitter IN SPITE of Elon were now forced to acknowledge that their Twitter is gone.
Just like over at reddit now, the latest move has alienated the people who really cared about the platform itself. If they rebranded to “Spez’s World”, though, a lot of the people who didn’t give a shit before would suddenly be ready to bail.
Lmao “Spez’s world” will be so funny though
He has so thoroughly ruined Twitter that you can’t help but wonder if that was his goal from the outset.
Narcissists like him would never seek failure intentionally.
You’ve obviously never played a board game with a narcissist. Flipping over the table and calling everyone, including the game they themselves purchased, cheaters is a totally expected move.
They’re not doing that to lose. They’re doing that because they already lost.
I GUESS YOU’RE RIGHT, LIKE YOU ALWAYS HAVE TO BE!
- Knocks phone over -
Fucking cheaters
To what end, though? The man blew 44b on a site that apparently was only worth 5-10b, and that was before he ran it into the ground. He also destroyed his reputation and the mystique as “genius entrepreneur” which the world can now clearly see he never was.
I can’t think of a single net positive. I think it’s an age old tale with people with too much money: he fell victim to an over inflated ego and too many yes men aiming to please. He started to believe he really was brilliant.
Sad thing is the man has so much money he still can’t fail, personally. He’ll have destroyed Twitter and even more people will lose their jobs. And autocrats around the world will be pleased. Musk will just shrug, tell himself it wasn’t his fault, “it was the libs” or something, and move on.
Eta: the only winners here, as per usual, are the shareholders.
44b sounds like a lot of money (it is!), but his net worth right now is 219b after this fiasco. At this point it’s just a score between rich assholes who got the bigger number.
You could take 200b away from his evaluation and he could still retire on a yacht and not work a single day in the next 100 years. Same for his children and his children’s children.
So yeah, “bad” financial investment, but it might be worth for him to kill one of the biggest platforms where he was called out for his bullshit.
That 44b had to be paid in real cash, not just the current theoretical value of the sum of his shares. He sold quite a lot of Tesla shares afaik to banks to give them a “small loan”.
Lol, “real cash”, look it up what he actually did. He took a loan in the name of Twitter, so he didn’t even use his own money. Pretty much financing half of the deal with the theoretical value of the company he just bought. And he took in extra money from Saudi investors, it’s not all his money.
There was never a 44b “real cash” transaction.
