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According to Elon Musk’s own math, the company formerly known as Twitter has lost 90% of its value and could be worth just $4 billion (finance.yahoo.com)
submitted 3 years ago by to c/technology@lemmy.world
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[–] 402 points 3 years ago (17 children)

Cheer up Elon - it wasn't worth $44B when you bought it, so it's lost significantly less value than you think!

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  • [–] 92 points 3 years ago (4 children)

    Most valuations by actual economists and the like was in the 20-25B range. So it still lost a 5x in value, which is only marginally worse than 10x.

    Meanwhile, you have the Elon fanboys still pretending Twitter is doing better than it ever has.

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  • [–] 53 points 3 years ago (10 children)

    The point of acquiring Twitter wasn't to make money; it was to take away something that woke lefty journalists like and give it to fascists.

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  • [–] 104 points 3 years ago (5 children)

    Have you considered that Elon Musk is a dumbass rather than a super genius?

    The guy didn't plan on buying twitter. He was made to after he tried gaming the system and fucked it up.

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  • [–] 23 points 3 years ago (1 child)

    Both things can be true

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  • [–] 2 points 3 years ago

    Incredibly inflated ego and self-image combined with poor emotional maturity and self-control after a life of entitlement. He said it to piss people off and then came back to eat shit, but unfortunately is also so rich he can throw his money away and have it barely matter.

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  • [–] 2 points 3 years ago* (1 child)

    And? I seem to recall that he fantasized about doing it loudly enough and in enough detail, that he was legally obligated to follow through to avoid being charged with securities fraud. The reason he wanted to do it was to take a communications medium away from the liberals and give it to the Nazis.

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  • [–] 10 points 3 years ago*

    This is marvel-brained fantasy. The guy played games and ended up with a business he doesn't understand and never should have been in charge of. He's not a super-villain, he's an ordinary villain, dumbass nepotism case.

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  • [–] 3 points 3 years ago (2 children)

    To see him explain it on Xitter or with a cartoon meme or whatever, he was in the "center", and the radical left was so extreme that they brought the Overton window to the left and ruined his day, and were super mean to him, too, I guess. In other words, look at what you made him do, all normal Americans!

    Or something. I guess the super-mean liberals also stole his hair, too.

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