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[–] 326 points 2 years ago* (last edited 2 years ago) (16 children)
  • 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

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  • [–] 96 points 2 years ago (7 children)

    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.

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

    Hey, it's not just that! It's also decimal 88 in the ASCII table.

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

    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.

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

    What was the username he stole? Don’t remember that one

    Also, don’t forget the disastrous rollout of the blue checks when a few people imitated companies and said Lockheed wouldn’t be doing business with Israel and a few others. But I guess that was the best thing he did, honestly, because that shit was hilarious.

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    [–] 140 points 2 years ago (2 children)

    I would be shocked if the company was actually breaking even.

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  • [–] 34 points 2 years ago*

    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.

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  • [–] 109 points 2 years ago (17 children)

    Turns out, nazi business is bad business

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  • [–] 13 points 2 years ago (9 children)

    Do we need a catchy “go Nazi get…____” catchphrase? It was such a g when the right wing did it! They do love a good catchphrase. Easier to remember.

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    [–] 88 points 2 years ago (8 children)

    X has added some features, like job listings

    Who the fuck looks for jobs on X?

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    [–] 78 points 2 years ago

    Go fash; lose cash.

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  • [–] 68 points 2 years ago

    hm, someone told me it was so easy to cut wasteful spending.

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

    There's no fucking way they're breaking even.

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  • [–] 51 points 2 years ago

    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.

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  • [–] 44 points 2 years ago

    Bullshit. No way does Twitter make anywhere near a profit, and that’s NOT taking into account the payments on 44Bn.

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

    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?

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    [–] 36 points 2 years ago

    Aw geez, what a shame. As if Neo-Goebbels is going to shut his propaganda arm over something as trivial as money.

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  • [–] 34 points 2 years ago

    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

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

    They should be losing fucking money hand over fist, is the problem.

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  • [–] 10 points 2 years ago

    If you think Elon is being honest about ‘breaking even’, you haven’t been paying attention. Twitter is in the hole, and he’s lying through his fascist little teeth to either save face, or manipulate some sort of upcoming move.

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  • [–] 19 points 2 years ago*

    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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  • [–] 19 points 2 years ago

    If only they had competant management...

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  • [–] 18 points 2 years ago (6 children)

    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?

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    [–] 17 points 2 years ago

    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

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

    Wouldn't barely breaking even actually be exceptionally good in the history of twitter? I though it had been burning money from its conception.

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    [–] 16 points 2 years ago (1 child)

    I think it's time to fire half of the people! That will help.

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    [–] 14 points 2 years ago

    Awww, is the world’s greediest man not making enough money?

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