this post was submitted on 17 Aug 2024
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Musk’s repeated outbursts against advertisers have dried up the main source of revenue for the loss-making company formerly known as Twitter. A recent decision to sue them for heeding his own advice to not buy ads on the platform hasn’t helped. At some point, he will have to provide a fresh infusion of cash to salvage his $44 billion takeover.

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[–] FlyingSquid 304 points 1 month ago (9 children)

I believe the appropriate thing to say to Elon here is, "go fuck yourself."

[–] LEDZeppelin 116 points 1 month ago (1 children)

Let me be very clear 👌go fuck yourself 👌

[–] [email protected] 56 points 1 month ago

👎 𝓰ℴ 𝒻𝓾𝒸𝓴 𝔂ℴ𝓾𝓇𝓼ℯ𝓵𝒻, 𝓮𝓁𝓸𝓃 🖕

[–] [email protected] 34 points 1 month ago

Let me say it in Italian American

gestures wildly with hands with each word

"Why dont yos go fuck yoself, motha-fucka!"

[–] dogsnest 20 points 1 month ago

Interesting  🤔

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[–] gedaliyah 193 points 1 month ago (6 children)

Free market capitalism will say to let it fail.

[–] dogsnest 34 points 1 month ago (11 children)
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[–] Protoknuckles 168 points 1 month ago (3 children)

If he sells enough Tesla stock, he may save both companies!

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[–] timewarp 108 points 1 month ago (9 children)

I have to give Musk credit. At least he help narrow my car buying decision to know at least one brand that I'll never buy.

[–] [email protected] 37 points 1 month ago

There are many reasons to avoid Tesla, regardless of Musk. The complete lack of independent repair was my deal breaker, but you'll find your own. Their competition is looking pretty good these days, too.

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[–] [email protected] 86 points 1 month ago (1 children)
[–] dohpaz42 64 points 1 month ago (2 children)
[–] [email protected] 65 points 1 month ago (3 children)

What an unfunny dipshit. He actually thought that was clever.

[–] ThePantser 56 points 1 month ago (3 children)

It is clever, he told everyone up front that he was there to sink the company.

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[–] pennomi 38 points 1 month ago (5 children)

It might’ve been funny if he was remotely likable. Turns out that humor depends highly on not being an asshole.

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[–] [email protected] 63 points 1 month ago

That’s because it is almost exclusively tied up in his various corporate holdings that include everything from rocket builder SpaceX and brain chip company Neuralink to his latest startup, xAI.

None of these investments are easily fungible. Only Tesla is a publicly traded company. So the easiest solution at his fingertips is to liquidate a portion of his remaining 12% stake.

Let it fucking burn.

[–] [email protected] 60 points 1 month ago* (last edited 1 month ago) (12 children)

Stop buying Teslas! Many other great or better EV choices out there.

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[–] rsuri 59 points 1 month ago* (last edited 1 month ago) (2 children)

He'll probably just get tesla shareholders to gift him the money. They've shown they'll sign off on pretty much anything he asks for.

[–] [email protected] 45 points 1 month ago (2 children)

Musk: How about a multiple billion dollar pay package?
Sane people: You've already had it.
Musk: I've had one, yes. What about a second multiple billion dollar pay package?

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[–] [email protected] 45 points 1 month ago

2 4 1 deal, how to trash 2 companies at once. Good job space karen!

[–] irreticent 43 points 1 month ago (1 children)

"A recent decision to sue them for heeding his own advice to not buy ads on the platform hasn’t helped."

Gotta love it. He told advertisers to fuck off, they fucked off, now he's even more mad at them.

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[–] [email protected] 43 points 1 month ago (6 children)

Maybe if he was smart, he'd just give up on the social network and sell it off to someone else. But he's not smart, so he'll keep sinking money into it until cooler heads in the company prevail. The era of social media dominance, I'm sorry to say, is over.

[–] [email protected] 27 points 1 month ago

He'll definitely keep it until after the election at least.

[–] [email protected] 20 points 1 month ago

Don't be sorry, that's amazing and awesome! Social media was internets biggest mistake. It going down is great. It dragging the shit clown Musk with it is an absolute cherry on that cake

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[–] [email protected] 43 points 1 month ago* (last edited 1 month ago) (1 children)

Could he sell all of it? And then completely fuck off? br, tesla (car) owner

[–] Nurgus 20 points 1 month ago* (last edited 1 month ago) (12 children)

Who would buy it now, though? It can't have much value left. (Edit: Twitter. Not talking about Tesla, that's a whole different arc.)

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[–] Valmond 38 points 1 month ago (5 children)

Why is this news...

Some rich guy might do something that doesn't really change anything for anyone.

[–] [email protected] 41 points 1 month ago (9 children)

Because it will affect Tesla's share price (negatively), just like it did last time, and Fortune's job is to report on things that affect share prices.

There is also a public interest element, because Musk is currently the richest man on earth - which affords him massively undue power and influence - but he won't be if he manages to crash the Tesla stock price with a massive sell-off.

Tesla is exceedingly overvalued right now which makes it a very volatile stock. We already saw the price crater the last time he sold stock to keep Twitter afloat, and it only really recovered when he pinkie swore not to do it again.

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[–] Thebeardedsinglemalt 32 points 1 month ago (1 children)
[–] auzy 21 points 1 month ago (17 children)

The problem with Tesla really is Elon.

If he sells his majority stake, I suspect it would be a lot better.

The biggest reason against buying them is him. They also make more than cars (their powerwalls seem alright).

If X fails though, I suspect all those bigots will flood over to here (Facebook and X seem to be distracting them for now).

Let them have their nazi prison. Just make it not profitable

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[–] Sgt_choke_n_stroke 31 points 1 month ago

Whats interesting is the NRA spent billions in TV propaganda running a news channel and that venture ended up bankrupting the whole organization. It looks like musk is falling in the same trap

[–] [email protected] 30 points 1 month ago

Why do you think he strongarmed Teslas shareholders into that big pay day? He's known this was coming, y'all. Tesla's just paying for his misadventure.

[–] [email protected] 27 points 1 month ago* (last edited 1 month ago)

He won't. He bought the company using leverage so he wouldn't have any personal financial investment in it.

My personal theory is that he bought it to destroy it to lash out at Grimes but, honestly, who the fuck even knows.

[–] [email protected] 23 points 1 month ago (3 children)

Maybe the Saudis and Qataris will chip in some more cash to help him out.

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[–] SmokumJoe 20 points 1 month ago (3 children)

I don't understand how you can sue a company that doesn't want to advertise on your platform

[–] [email protected] 34 points 1 month ago* (last edited 1 month ago) (1 children)

You can sue anyone for anything. It's just a matter of how long you fight it before it gets thrown out.

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[–] ulkesh 19 points 1 month ago

Aww, poor rich asshole.

[–] [email protected] 19 points 1 month ago (7 children)

Or maybe he'll just have to sell Twitter.

Or maybe Twitter's debtors can place a lien and sell it right out from under him.

Kinda curious about what if Twitter were nationalized...? Like, make it a service of the USPS or something? Force it to become accountable to its users?

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[–] [email protected] 18 points 1 month ago (3 children)

Notice he isn't going to put his SpaceX shares up for sale.

[–] SpraynardKruger 19 points 1 month ago* (last edited 1 month ago)

I don't know much about trading stock, but I do know SpaceX is not a publicly traded company. That means his buyers for those shares are super limited, so each potential buyer would likely be super wealthy and would have more say over the company than any one individual in the horde of public buyers that would buy up the Tesla stock. Plus, him needing to divest from Tesla might actually drive Tesla stock up a little (eventually), since he won't have as much control of the company as he did before. It seems he would still be the largest shareholder after the selloff, but this would close the gap between him and the next largest shareholder. He owns over 3x more Tesla stock than the next largest shareholder.

www.investopedia.com/articles/insights/052616/top-4-tesla-shareholders-tsla.asp#:~:text=Tesla%20is%20the%20world's%20most,%2C%20Vanguard%2C%20and%20State%20Street

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[–] [email protected] 18 points 1 month ago (3 children)
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