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What are some notable blunders in history that resulted in huge loss? (lemmy.ml)

submitted 1 year ago by [email protected] to c/[email protected]

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Loss in terms of money or efforts. Could be recent or ancient.

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[–] AlmightySnoo 60 points 1 year ago* (last edited 1 year ago) (2 children)

Elon acquiring Twitter for $44B in the first place, not taking into account the subsequent blunders. He not only overpaid too much for a social media company without even understanding it, he also wrecked Tesla's stock price as investors saw he was clearly spending too much time on Twitter and he had to panic sell Tesla shares to fund his Twitter adventure. He easily wiped out hundreds of billions from Tesla's market cap during that time.

[–] [email protected] 16 points 1 year ago

I would say he overpaid by exactly the right amount.