451
Twitter's valuation has been slashed by 47% at Ark Invest since Elon Musk took over
(markets.businessinsider.com)
this post was submitted on 18 Jul 2023
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Let’s also remember that in all of Twitter’s years of operation they only had a couple quarters where they actually turned a profit. Even after Trump made it ‘the place to see whatever the President was talking about’, they still struggled to make money.
Elon thinks he can fix that, but the real fools are the investors who believed him.
He doesn't, he was smoking like crazy for a while, it's a whole story, basically he smoked himself stupid during covid and only quit a few months ago.
He said a bunch of stupid shit when he was high because he thought he was beyond any and all question, and this is one thing he got caught on because it had a material effect on a publicly traded company.
I'd feel bad for him if he wasn't such a complete moron who let the paranoia get the better of him.
And if memory serves, some of their most profitable quarters were during the lockdowns, which don't exactly happen regularly.