Anyone else think Musk is gonna bail on this when he realises that running a social media platform is really, really hard?
https://twitter.com/FT/status/1518979648331431937
And Tesla's stock continues to fall...Why?
Because the loan he's arranged with a bank to buy Twitter stock (never made a profit) has been leveraged against Tesla stock (never made a profit)
Tesla stock has dropped 11%; $110Bn lost because it's boss wants to be able to say what he wants on a SM platform without getting put on the naughty step for a couple of days. What a genius.
Apparently if Tesla stock drops 40% he has to pay the loan back.
Twitter is a horrid cesspit of toxicity, populated by attention seekers and terminal arguers.
What kind of people would hang out on a social media platform like that.....oh
Tesla stock (never made a profit)
Eh? Tesla has been profitable for a couple of years (even if you don't factor in carbon credit sales)
Anyone else think Musk is gonna bail on this when he realises that running a social media platform is really, really hard?
I expect (and bloody well hope) that he'll delegate the tricky stuff, but I don't think his ownership will be good for Twitter - in that it's likely to amplify the things that are already bad about it and cement the market position I described above.
I get the impression that many young (and not so young) men regard Musk as some kind of investment guru, so I wonder whether such an obviously bad business decision will dent that perception?
What kind of people would hang out on a social media platform like that…..oh
I've cut down quite a bit, OK?
Eh? Tesla has been profitable for a couple of years
On sales of emission credits to other automotive manufacturers, and Bitcoin trading, which (checks notes) are not it's core business?
Anyone else think Musk is gonna bail on this when he realises that running a social media platform is really, really hard?
Harder than getting a new car company off the ground or creating space-x? Erm.
The main issue is going to be ridding the company of those who have embedded political partisanship in the company's DNA. For example censoring the New York Posts truthful reportage on Hunter Biden's laptop, or suspending accounts for "misgendering". The rot at Twitter runs deep, firing the board would seem the bare minimum. A legal minefield but not harder than rocket science.
those who have embedded political partisanship in the company’s DNA
All companies have political bias, including Social Media companies. That doesn't necessary have to result in partisan moderation of content. As it happens, twitter is a wash with people posting from all sorts of political perspectives quite freely. Moderating content to try to remove abuse and dangerous misinformation must be an absolute nightmare for them. Doubly so during the pandemic. I think they've often fallen short. Others think that they have been overly restrictive. It's only going to get harder for them I fear, whoever owns and runs the company.
Harder than getting a new car company off the ground or creating space-x?
I'll give you Space -X although most of the heavy lifting is obvious not done by him, he just basks in the reflected glory. "Getting a new car company off the ground" involved him investing $6.5M of the $100M he made from PayPal shares...and that's it.
The rot at Twitter runs deep
I'm not his biggest fan by a long measure but the blind spot to his massive douche-iness from those that think he's somehow the messiah made corporeal amongst us is a sight to behold, I think just about anyone else would make a better fist of clearing out the Twitter board than Musk
I get that you lot don’t seem to like the guy but how is him buying Twitter any worse than people like Murdoch owning half the media or someone like Berlusconi owning over half the nations media and running for office or Bezos buying a tonne of farmland?
Yeah, and how is it worse than Putin invading Ukraine?
Fair enough Chakaping, poor choice of words on my part
Let me rephrase the above question from how is it any worse to how is it any different?
but how is him buying Twitter any worse
This argument appears to be: These other shitbags own media as well, so what's the issue? That doesn't seem like a great argument if I'm honest with you.
What argument?
The question, I'll try again, is if equivalent things happen all the time, ie rich people gaining more control and influence, then why is everyone in an outrage over this particular thing? It may seem like I have an angle but genuine question. I don't use Twitter so could be something I'm missing
is if equivalent things happen all the time, ie rich people gaining more control and influence, then why is everyone in an outrage over this particular thing?
People do disapprove of those other cases. I will admit not getting to angry when Murdoch first got his grubby fingers into the UK papers but in my defence I wasnt born then however plenty of people tried to push back unsuccessfully and now look where we are.
then why is everyone in an outrage over this particular thing?
because over the years Elon has demonstrated time and time again that he's the sort of person that shouldn't be allowed near a book of matches, let alone businesses. Especially ones where his interest in them is "political" given that as a multi billionaire his views on free speech are massively skewed.
He's just trolling
Tbh I think he's just stoned and tweeting whatever enters his brain a lot of the time
https://twitter.com/Ian_Fraser/status/1519427222926462995?t=EsrEZ5-xE6ALuFEJS82TRA&s=19
because over the years Elon has demonstrated time and time again that he’s the sort of person that shouldn’t be allowed near a book of matches, let alone businesses.
written by nickc, worth 6 quid
written by nickc, worth 6 quid
let's have a look at how the "self-made" billionaires got their start in life shall we?
Bill Gates: His mum sat on the same school board as the chairman of IBM and persuaded him to take a chance on her son's new start up which was someones else's invention that Bill had made a product from
Jeff Bezos: Started amazon with $300,000 from his parents and some more from friends. Fun fact: He wanted to call the company "Relentless" (not kidding) and if you type in www.relentless.com, it'll take you to Amazon.
Elon Musk: His dad owned an emerald mine in South Africa and quote "We had so much money stuffed in the safe that we couldn't close the door sometimes"
You know if i had the bump up that all these folks had, I'd probs be worth more then 6 quid...How about you?
Amused me …
I can see him doing a runner from this deal he is just pushing his ego around the world. Or maybe a grown up did the math.
if you type in http://www.relentless.com, it’ll take you to Amazon.
Had to check whois as it could be anyone but Registrant Name: Hostmaster, Amazon Legal Dept.
Elon Musk is such a **** that I wouldn't be surprised if this was true.
https://twitter.com/TomJChicago/status/1520408467596627968
TBH if people keep valuing stock so highly isn’t this always going to be the game to play.
He's even more of a c*nt than I gave him credit for
Haha, saw that Democrats tweet yesterday, and wondered what he was trying to get out in front of.
Twitter is a very useful forum for communication. You just have to follow the right people and ignore/block the idiots. There are lots of the former and I rarely have much interaction with the latter.
Musk is a ****, of course. He also seems to be a thick entitled **** who made a few lucky bets on the back of inherited wealth and privilege.
I think the biggest question for me is, when did space-x recruit flight attendants?
Guessing from the day they started using corporate jets.
Rich right wing businessman buys twitter after watching rich right wing businessman man use Twitter to become president... Musk for 2030?
New fragrance by Chanel?
Nah, he's a South African, so can't be president. He can make one though.
Yeah, but Obama was Kenyan, so what's the problem?
/s
I used to be ambivalent about Musk, I thought his success at marketing EVs somewhat compensated for being such a ****. Recent developments have made me think that no amount of good work can make up for being such a total knobber.
https://twitter.com/MaxKennerly/status/1527768838430916608
Will never seek victory in a just case against us
An attitude to be applauded even if it is ever so slightly undermined by him winning that defamation case when he called someone a paedo since they werent suitably grateful for his crap idea.
An attitude to be applauded
Who's deciding if a case is 'just'?
As you say, we already know he doesn't actually follow that principle.
Twitter is a very useful forum for communication. You just have to follow the right people and ignore/block the idiots. There are lots of the former and I rarely have much interaction with the latter.
The flip side of that is you're just creating your own personal echo chamber.
Which TBH is just what I do, but it's not "usefull".
From a guy who said to his first wife on their wedding day "Don't forget I'm the Alpha in this relationship" The idea that Musk doesn't want to "win" at everything he does is risible.
dissonance makes a good point and the username adds flair to that point.
If that example bodes for how Musk foresees Twitter v.2 being used as a vehicle for his idea of Freespeech™ then,er (fill in the blanks)