Post AU0IONCV32M3rlH3h2 by hittitezombie@mastodon.me.uk
(DIR) More posts by hittitezombie@mastodon.me.uk
(DIR) Post #ATzx3vjrLKpNriHxLc by mmasnick@mastodon.social
2023-03-26T05:46:33Z
1 likes, 6 repeats
Alternate headline: Elon Musk admits he's set $24 billion on fire... so far.
(DIR) Post #AU0ILEujOus1ITT840 by matunos@mastodon.social
2023-03-26T06:02:39Z
0 likes, 0 repeats
@mmasnick not on fire exactly… he gave it to the former shareholders
(DIR) Post #AU0ILFfWawIhdbMV04 by StryderNotavi@aus.social
2023-03-26T06:12:33Z
0 likes, 1 repeats
@matunos @mmasnick There was a reason they were willing to sue him to force him to go through with the deal.They knew it was the best payday they could have ever hoped for.
(DIR) Post #AU0IM7QUj2McMckG4O by AT1ST@mstdn.ca
2023-03-26T07:16:09Z
0 likes, 1 repeats
@StryderNotavi @matunos @mmasnick Well, more accurately, he put efforts to buy it, then not only attempted to back out of the contract, but proceeded to attempt to forcibly devalue it by bad-mouthing it below the value it *actually* had.
(DIR) Post #AU0INO5eFtd4KqbE2q by adrianco@mastodon.social
2023-03-26T06:07:51Z
0 likes, 1 repeats
@mmasnick I predicted a few months ago that he’d eventually get fed up with twitter and sell it to Google for less than $10B. Still seems plausible.
(DIR) Post #AU0IONCV32M3rlH3h2 by hittitezombie@mastodon.me.uk
2023-03-26T06:31:10Z
0 likes, 1 repeats
@adrianco @mmasnick If Google guys are clever enough, they wouldn't touch it with a bargepole. No real revenue, massive cost and full of Nazis.
(DIR) Post #AU0IPlJYsX6SwZEudk by ajc418@mastodon.me.uk
2023-03-26T06:50:25Z
0 likes, 1 repeats
@hittitezombie @adrianco @mmasnick$34B to rid the platform of the "woke mind virus" was well worth it, Musk will argue to the investors in his next brilliant purchase. Some of them might even agree with him. An extreme rightwing :twitter: with no effective content moderation probably works in their favour both politically and financially
(DIR) Post #AU0IRYHcIeVB6gBQWG by rss@hachyderm.io
2023-03-26T07:01:27Z
0 likes, 1 repeats
@adrianco The thing is... most acquisitions are about two things: IP, and talent. He's fired all the talent, and is rapidly destroying the IP.The only other thing -- the intangible worth Twitter had as a trusted town-hall with an enormous user-base -- is on fire in the middle of a river and the river is also on fire.@mmasnick
(DIR) Post #AU0IULK4wUGTmPfKsK by adrianco@mastodon.social
2023-03-26T07:06:10Z
0 likes, 0 repeats
@rss @mmasnick I agree. My thought is that he has friends at Google, and they are one of the few companies who could re-staff twitter and afford to rebuild and monetize it.
(DIR) Post #AU0IULyqUusHoqjtQ0 by djm@cybervillains.com
2023-03-26T07:22:06Z
0 likes, 1 repeats
@adrianco @rss @mmasnick had friends https://www.wsj.com/articles/elon-musk-affair-sergey-brin-wife-divorce-11658674840
(DIR) Post #AU0IWxOGNZryQIrxtA by warren__terra@mastodon.online
2023-03-26T06:24:21Z
0 likes, 1 repeats
@mmasnick When you consider the amount of the purchase price that was a bank loan to Twitter, his estimate - which seems absurdly high - places its net value not much above zero.
(DIR) Post #AU0IXfswwqYmQDZ5pQ by Npars01@mstdn.social
2023-03-26T06:24:50Z
0 likes, 1 repeats
@mmasnick The fact that Morgan Stanley, his bankers, and Alwaleed bin Talal & Mohammed bin Salman aren't perturbed by this loss in valuation is itself disturbing. Oil oligarchs & their financiers who are unbothered by a >50% loss in valuation means that they're happy with Mr. Musk for other reasons. Kneecapping the flow of accurate information in the lead-up to the 2024 elections.Ending democracy to thwart climate action is the goal.The funding of global fascist movements accelerates.
(DIR) Post #AU0IaSbCno9y5Hargm by artilectzed@pnw.zone
2023-03-26T06:31:27Z
0 likes, 1 repeats
@mmasnick How do you make a millionaire? Convince a billionaire to buy a ~~boat~~ social network.
(DIR) Post #AU0IiUrkG5IDQnA6bo by michelamarie@mastodon.social
2023-03-26T08:25:58Z
0 likes, 1 repeats
@mmasnick $20B sounds awfully high. I don’t think there will be a reliable way to valuate the firm from outside for some time, since it’s now privately held.
(DIR) Post #AU0IkQ4d2xJ39D6ZiC by skry@mastodon.social
2023-03-26T09:15:23Z
0 likes, 1 repeats
@mmasnick Musk tries to convince people he’s thrown away only $24 billion so far.
(DIR) Post #AU0osmZsSTI1nBkk7s by Ulrich_the_Elder@mastodon.social
2023-03-26T15:55:17Z
1 likes, 0 repeats
@mmasnick Alternate headline. musk overvalues twitter.
(DIR) Post #AU1ElVXU0TNFjGpBz6 by Penthesilea@mastodon.sdf.org
2023-03-26T13:26:01Z
0 likes, 0 repeats
@Npars01 @mmasnick I'm pretty sure the bankers who advanced the 13 or so billion that financed the deal in part are not having a good time, it's that they're not looking for anyone with a mic to tell people that they're well and truly f'ed. Musk is uniquely talented in crowing about wild failures and trying to dress them up as successes."Hey guys, you heard how we gave money to finance a deal and got screwed, let me tell ya..." That's not gonna happen.
(DIR) Post #AU1ElWPikol8RUCVWa by lennardvanotterloo@mastodon.social
2023-03-26T16:13:04Z
0 likes, 0 repeats
@Penthesilea @Npars01 @mmasnick Agreed. There may be people who don’t care that much to have to recognise billions of losses on the Twitter acquisition. I very much doubt the banks are among them.There were stories a couple of months ago that the banks were trying to sell the debt on but couldn’t find any takers.
(DIR) Post #AU1ElX96273UiDQkFc by Penthesilea@mastodon.sdf.org
2023-03-26T16:32:14Z
0 likes, 0 repeats
@lennardvanotterloo @Npars01 @mmasnick Especially now, what with banks being under pressure for having been overexposed on interest rate risks -- one of the reasons they couldn't find buyers for the Twitter debt! If there was ever a time to be going around saying "no, we totally ate a bullet on this deal" this would rank as the worst possible moment to try to talk about.
(DIR) Post #AU1ElXlNjlgEcxLJvU by peterbutler@mas.to
2023-03-26T18:42:19Z
0 likes, 0 repeats
@Penthesilea @lennardvanotterloo @Npars01 @mmasnick I don’t quite understand why they funded it in the first place. It was clearly overvalued. 🤷🏼
(DIR) Post #AU1ElYIhjsKqIIvvrk by Npars01@mstdn.social
2023-03-26T18:55:51Z
0 likes, 0 repeats
@peterbutler @Penthesilea @lennardvanotterloo @mmasnick The fossil fuel industry has the best climate forecasts & has known for over 30 years.The globe has transferred vast wealth to oil despots for over 75 years.Those oil oligarchs want to keep that wealth, power, & control & are prepared to fund crisis after crisis to end democracies that threaten its hold on geopolitics. The purchase of media and social media platforms is just one element of a broad plan to keep captive oil markets.