this post was submitted on 01 Dec 2023
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He didn't want to buy twitter. It was a stunt to raise Tesla's price but his bluff got called out and he was forced to buy it. Now he wants to get rid of it, so he's tanking the valuation low enough for vultures to buy it.
He overpaid. You don’t need to tank it’s value to get rid of it. You can sell it for less than you paid, or less than it’s worth for a quick sale.
The value is tanking because he’s not a competent CEO, not as part of a plan.
The money doesn’t matter.
We all know he ran it into the ground. However the twitter trademark is still worth something. It’s probably the only part of company worth buying. Which is ironic given that he changed the name. Regardless, someone might be willing to pay ~1 billion for it.
Which is what a smart ceo would do. Musk is not smart. He’s a spoiled little brat. Musk’s ego can’t handle the fact that anyone who buys twitter could make the company profitable (something he failed at spectacularly) by doing the exact opposite of whatever the fuck he’s doing. I.e. by proving that all his ideas are stupid.
And you can do it with an NDA so the price is hidden
Everyone glosses over the fact that Elon didn't buy Twitter with just his own money. While he used a lot of his own money, he had a bunch of other investors included in the deal, and not one of them seemed to have an interest in Twitter's success as a business.
The largest investor, at $2 billion, was Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, and the Saudis were openly hostile to Twitter and would certainly like to see its destruction. This may sound conspiratorial, but I'd wager his plan was to ruin it from the beginning. I would be surprised (but not too surprised) if he's destroying it on accident
I have to believe you're right because the idea that someone that rich could also be that stupid upsets me too much.
What, really? Why?
Most rich people inherit their wealth. The idea that rich people have earned any damn thing is more like the exception than the rule.
[Citation needed]
Or perhaps sell his share to prince Bone Saw.