"Barely breaking even" and yet he keeps getting richer.
this post was submitted on 25 Jan 2025
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No you're not
Twitter broke barely even
You paid twice it's worth and then within 2 years got it to only 20% of its value, pushing away all power users and advertisers.
You're bleeding money like there is no tomorrow and you'll still be bankrupt or jailed soon enough. If not during Trump's presidency, then most certainly after it
Bullshit. No way does Twitter make anywhere near a profit, and that’s NOT taking into account the payments on 44Bn.
- Claims in an interview that he is qualified to handle a social media company on the internet because he has "put internet in space"
- Buys a financially struggling company for way too much money
- Dismantles everything that made it attractive
- Insults and fires the most competent employees who are trying to stop him from destroying the platform
- Doesn't pay the employees he fired owed severance, further discouraging the best of the workforce from ever applying to work there
- Turned it into something so repulsive and toxic that the users and advertisers start to leave
- Told the advertisers to "go fuck themselves"
- Tried to sue the advertisers into returning, further discouraging any new advertiser from ever doing business with him
- Destroys the brand recognition by renaming it to a letter of the alphabet he personally likes but nobody else gives a crap about
- Abuses his admin powers to steal a handle with the name he wanted from its owner, further eroding the user's trust in him handling the platform
- Continues ruining the platform, turning it into his personal soap box to push his (toxic) ideas and abuses his powers to reduce the visibility of those he doesn't like while claiming to be radically pro-free speech.
- Alternative platforms have gained momentum and have reached critical mass and will soon become the new default platform people will flock to. High profile users leave.
- Whines and bitches about the company not making any money.
Hey guys, I'm starting to think that this guy's fortune has absolutely nothing to do with his skills at running a business
Destroys the brand recognition by renaming it to a letter of the alphabet he personally likes but nobody else gives a crap about
I'm beginning to suspect he only likes that letter because it's the middle part of a swastika.
Hey, it's not just that! It's also decimal 88 in the ASCII table.
🫣I see!
Elon uses X as ASCII 88 and Proton CEO uses 1011000 as binary ASCII
What about all these Nazi people everywhere suddenly?!
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Hey guys, I'm starting to think that this guy's fortune has absolutely nothing to do with his skills at running a business
Great summary btw. and you are absolutely right here. He is a terrible manager.
Remember the time when he slept at the Tesla factory just because he didn't trust anybody and thought he himself must rescue it all by working so much overtime and make all the decisions.
He is a terrible manager.
I still can't get over how Musk told computer programmers to print out hardcopies of all their source changes, and then fly to Musk's city to show him the hardcopy. That alone proves Musk is the dumbest CEO of all time.
Probably because his wife kicked him out for being an asshole.
You forgot the part where couchefucker Vance threatened Europe to pull out of NATO if Europe wouldn't stop suing and leaving twatter
That paragraph above would normally be so bizarre that it wouldn't even make it to TV for being too... Out there... But this is the timeline we're in now, this is the new normal
Did you include the whole 'verified' tag fiasco in your list? I didn't see it explicitly in there, but maybe it falls under a general functionality fuck-up point.
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After Twitter already not being profitable. Add all the loss of marketing from businesses and users leaving, then the cost of all the bots and lawsuits.
How come it is "barely breaking even"? Who is paying them? Fascists?
Who is paying them?
Probably all the people paying $8/mo for a checkmark
He's laundering money through it most likely
All the blue checkmarks probably helps, and the premium crap too
I would be shocked if the company was actually breaking even.
I think he's sugar-coating it because their bonds are about to go up for sale. From the article:
While equity investors have reportedly slashed the value of their stakes by as much as 78 percent, the Journal reports, “banks hope to sell senior debt at 90-95 cents on the dollar, while retaining more-junior holdings.”
If they were breaking even, the bonds wouldn't be getting sold at a loss. Keep in mind, the bond holders get paid before the stock holding investors, so if they're taking a loss, the equity investors are getting nothing (hence the 78 percent cut, basically their share is only worth the odds of a miraculous turnaround). That doesn't happen with a company unless it's losing money.
At absolute best it's breaking even before debt service.
Maybe he's still not just paying rent on some buildings and miraculously hasn't been kicked out yet
Aw geez, what a shame. As if Neo-Goebbels is going to shut his propaganda arm over something as trivial as money.
Go fash; lose cash.
hm, someone told me it was so easy to cut wasteful spending.
At this point if you're still working there knowingly building a powerful fascist gathering platform after so much time available to leave, taking dirty Nazi money as payment for your services...
I dunno man... should I feel bad for the staff, or are the remaining staff complicit enough at this point?
Feel bad for the poor bastards stuck there on visas. Feel less bad about anyone looking around that can't quit but can't find another job. Would you hire someone who's still working at Twitter? I probably wouldn't even pull that resume for an interview.
That's a point I had not considered. Twitter is resume poison, at this point.
Do they have employees on H1B? If so, that may be why they haven't jumped ship for less-Nazified pastures. Not excusing anyone, just striving to understand.
Or maybe take a paycheck and do substandard job introduce bugs etc.
Heck, I'll even do that for a company I like!
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X has added some features, like job listings
Who the fuck looks for jobs on X?
Nazis probably
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If only they had competant management...
The advertisers are coming back, I swear!
Please come back, But do go fuck yourselves!
There's no fucking way they're breaking even.
@breakfastmtn @cm0002 it already bought an election, how much it is worth?
Yeah. Bought an election for a bum who doesn't understand loyalty or how to pay his bills. Lol.
What a Dumbass.
The man bought an election with disinformation and lobbying, who gives a fuck what he says about this company. Who knows what the fuck break even even means in his addled brain.
Musk also said that the company could become cash-flow positive “within months” nearly two years ago, and it still faces over $1 billion in annual interest payments on the loans.
3 months maybe, 6 months definitely
And then right after he sues the people for not advertising
With the site now serving as an outlet for right wing narratives and misinformation that benefits the administration, there will be an incentive to prop it up financially if need be. Banks have been trying unsuccessfully to offload their debt used to finance the acquisition, so it seems investors aren’t as confident in the site’s long term profitability even with its newfound role.
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