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The New Coffee Room

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  3. Elon Musk buys a big chunk of Twitter

Elon Musk buys a big chunk of Twitter

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  • T Offline
    T Offline
    taiwan_girl
    wrote on 12 Apr 2023, 00:33 last edited by
    #732

    Twitter no long exists as a company. It has been absorbed by X Corp.

    https://arstechnica.com/tech-policy/2023/04/twitter-no-longer-exists-as-a-company-merges-into-musks-x-corp/

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      Axtremus
      wrote on 12 Apr 2023, 13:44 last edited by
      #733

      https://www.cnn.com/2023/04/12/tech/elon-musk-bbc-interview-twitter-intl-hnk/index.html

      80% cut in staff headcount
      Musk claims (what's formerly known as) Twitter is now "breaking even" and advertisers are coming back.

      G 1 Reply Last reply 12 Apr 2023, 13:50
      • A Axtremus
        12 Apr 2023, 13:44

        https://www.cnn.com/2023/04/12/tech/elon-musk-bbc-interview-twitter-intl-hnk/index.html

        80% cut in staff headcount
        Musk claims (what's formerly known as) Twitter is now "breaking even" and advertisers are coming back.

        G Offline
        G Offline
        George K
        wrote on 12 Apr 2023, 13:50 last edited by
        #734

        @Axtremus said in Elon Musk buys a big chunk of Twitter:

        80% cut in staff headcount
        Musk claims (what's formerly known as) Twitter is now "breaking even" and advertisers are coming back.

        One has to wonder...from and end-user standpoint Twitter is little-changed from what it was a year ago.

        Yea, there have been changes as to policy, procedures, etc. Changes in "blue checks" and all that other crap have occurred. But, my experience is not very different from it was a year ago.

        So, one has to wonder, what were those 80% doing? Were they doing computer preventive maintenance? Were they "innovating?" The platform seems to be just fine.

        "Now look here, you Baltic gas passer... " - Mik, 6/14/08

        The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

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          Axtremus
          wrote on 12 Apr 2023, 13:56 last edited by
          #735

          Musk's BBC interview.

          Elon Musk tells BBC that owning Twitter has been quite painful
          https://www.bbc.co.uk/news/business-65248196

          1 Reply Last reply
          • G Offline
            G Offline
            George K
            wrote on 12 Apr 2023, 16:33 last edited by
            #736

            BBC: "Hateful content is on the rise."

            Musk: "Give me one example."

            BBC: ........

            "Now look here, you Baltic gas passer... " - Mik, 6/14/08

            The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

            1 Reply Last reply
            • G Offline
              G Offline
              George K
              wrote on 12 Apr 2023, 17:22 last edited by
              #737

              Isn't it interesting that in their story, the Beeb choses not to quote Musk when he says the reporter journalist mouthpiece can't back up his claim?

              "Now look here, you Baltic gas passer... " - Mik, 6/14/08

              The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

              1 Reply Last reply
              • D Offline
                D Offline
                Doctor Phibes
                wrote on 12 Apr 2023, 17:26 last edited by Doctor Phibes 4 Dec 2023, 17:28
                #738

                That was pretty embarrassing. Looking at Debra Faushay's Twitter, she actually wasn't being sarcastic 😂

                I was only joking

                1 Reply Last reply
                • J Offline
                  J Offline
                  Jolly
                  wrote on 13 Apr 2023, 13:03 last edited by
                  #739

                  If Musk can make Twitter profitable (he said when took over, they were about 90 days from going bust) what does that say about his business skills? Secondly, if he can show a good set of books, does he sell Twitter?

                  “Cry havoc and let slip the DOGE of war!”

                  Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                  A 1 Reply Last reply 24 Apr 2023, 16:45
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                    Axtremus
                    wrote on 24 Apr 2023, 16:36 last edited by
                    #740

                    https://www.vice.com/en/article/m7beya/elon-musk-twitter-blue-verification

                    … Rather than being a much sought-after status symbol and revenue driver, the new blue check is being seen more like a scarlet letter, and Musk spent the weekend personally giving them to famous people who were forced to loudly clarify that they don’t want them. …

                    1 Reply Last reply
                    • J Jolly
                      13 Apr 2023, 13:03

                      If Musk can make Twitter profitable (he said when took over, they were about 90 days from going bust) what does that say about his business skills? Secondly, if he can show a good set of books, does he sell Twitter?

                      A Away
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                      Axtremus
                      wrote on 24 Apr 2023, 16:45 last edited by
                      #741

                      @Jolly said in Elon Musk buys a big chunk of Twitter:

                      If Musk can make Twitter profitable (he said when took over, they were about 90 days from going bust) what does that say about his business skills?

                      Being profitable is usually better than otherwise, just not always. An enterprise going from $1 Billion revenue with $10 Million loss to $10 revenue with 10¢ profit has also turned profitable, though some people may not be all that impressed by the CEO who transformed the enterprise with that trajectory.

                      That said, if I were a Twitter stockholder not long before Musk announced his takeover bid, I would likely be very happy because it might take a very long time (if ever) for Twitter’s valuation as a public company to rise to Musk’s offer.

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                        Axtremus
                        wrote on 25 Apr 2023, 00:14 last edited by
                        #742

                        https://www.foxnews.com/media/liberal-celebs-journalists-furious-musk-gave-them-blue-check-back-without-my-consent

                        Fox News: Liberal celebs, journalists furious that Musk gave them their blue check back: 'Without my consent'

                        The Twitter Blue Check as a status symbol, now the status of a pariah.

                        1 Reply Last reply
                        • T Offline
                          T Offline
                          taiwan_girl
                          wrote on 5 May 2023, 09:59 last edited by
                          #743

                          Twitter changes description on Blue Check Mark

                          https://news.yahoo.com/elon-musk-changes-twitter-blue-143900665.html

                          1 Reply Last reply
                          • G Offline
                            G Offline
                            George K
                            wrote on 31 May 2023, 01:08 last edited by
                            #744

                            Twitter Is Now Worth Just 33% of Elon Musk’s Purchase Price


                            Twitter is now worth just one-third of what Elon Musk paid for the social-media platform, according to Fidelity, which recently marked down the value of its equity stake in the company.

                            Musk has acknowledged he overpaid for Twitter, which he bought for $44 billion, including $33.5 billion in equity. More recently, he said Twitter is worth less than half what he paid for it. It’s unclear how Fidelity arrived at its new, lower valuation or whether it receives any non-public information from the company.

                            Fidelity first reduced the value of its Twitter stake in November, to 44% of the purchase price. That was followed by further markdowns in December and February.

                            Twitter has struggled financially since Musk took over. After saddling the company with $13 billion of debt, Musk’s erratic decision making and challenges with content moderation led advertising revenue to decline by 50%, Musk said in March. An attempt to recoup that revenue by selling Twitter Blue subscriptions has so far failed to take off. At the end of March, less than 1% of Twitter’s monthly users had signed up.

                            Twitter didn’t specifically respond to a request for comment.

                            Musk’s investment in Twitter is now worth $8.8 billion, according to the Bloomberg Billionaires Index, which uses Fidelity’s valuation to calculate the value of his holding. Musk spent more than $25 billion to acquire an estimated 79% stake in the company last year.

                            The latest markdown erases about $850 million from Musk’s $187 billion fortune, according to the index. Despite Twitter’s issues, Musk’s wealth is up more than $48 billion this year, largely due to a 63% surge in Tesla Inc.’s share price.

                            "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                            The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                            1 Reply Last reply
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                              Axtremus
                              wrote on 2 Jun 2023, 01:36 last edited by
                              #745

                              https://reuters.com/technology/twitters-head-trust-safety-says-she-has-resigned-2023-06-02/

                              June 1 (Reuters) - Twitter's head of trust and safety, Ella Irwin, told Reuters on Thursday that she has resigned from the social media company.

                              1 Reply Last reply
                              • A Away
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                                Axtremus
                                wrote on 11 Jun 2023, 13:31 last edited by Axtremus 6 Nov 2023, 13:31
                                #746

                                Deadbeat Twitter?

                                https://www.reuters.com/technology/twitter-is-refusing-pay-its-google-cloud-bills-platformer-2023-06-10/

                                Report: Twitter is refusing to pay its Google Cloud bills.

                                1 Reply Last reply
                                • HoraceH Offline
                                  HoraceH Offline
                                  Horace
                                  wrote on 11 Jun 2023, 17:41 last edited by
                                  #747

                                  Musk asks banned youtubers to upload their videos to Twitter:

                                  https://www.msn.com/en-us/news/us/upload-here-elon-musk-urges-sharing-video-youtube-banned-for-hate-speech-because-twitter-believes-in-free-speech/ar-AA1cnHEf?rc=1&ocid=winp1taskbar&cvid=92cd3c833e7d4953ae4996a1b85dbc45&ei=9

                                  I guess he's not actually all talk when it comes to free speech.

                                  It requires no hard decisions or business sacrifices, to be more free-speech than the authoritarian, progressive-controlled moderation practices of Youtube. This is low hanging fruit, and I hope it takes a bite out of youtube. They have some pruning to do among their employees responsible for moderation practices.

                                  Education is extremely important.

                                  Aqua LetiferA 1 Reply Last reply 10 Jul 2023, 00:03
                                  • A Away
                                    A Away
                                    Axtremus
                                    wrote on 9 Jul 2023, 23:33 last edited by
                                    #748

                                    Deadbeat Twitter?

                                    https://arstechnica.com/tech-policy/2023/07/twitter-refuses-to-pay-for-arbitration-it-forced-on-891-ex-employees-suit-says/

                                    Twitter refuses to pay for arbitration it forced on 891 ex-employees, suit says

                                    Twitter forced its ex-employees into arbitration, yet itself refused to pay the fees for arbitration.

                                    1 Reply Last reply
                                    • HoraceH Horace
                                      11 Jun 2023, 17:41

                                      Musk asks banned youtubers to upload their videos to Twitter:

                                      https://www.msn.com/en-us/news/us/upload-here-elon-musk-urges-sharing-video-youtube-banned-for-hate-speech-because-twitter-believes-in-free-speech/ar-AA1cnHEf?rc=1&ocid=winp1taskbar&cvid=92cd3c833e7d4953ae4996a1b85dbc45&ei=9

                                      I guess he's not actually all talk when it comes to free speech.

                                      It requires no hard decisions or business sacrifices, to be more free-speech than the authoritarian, progressive-controlled moderation practices of Youtube. This is low hanging fruit, and I hope it takes a bite out of youtube. They have some pruning to do among their employees responsible for moderation practices.

                                      Aqua LetiferA Offline
                                      Aqua LetiferA Offline
                                      Aqua Letifer
                                      wrote on 10 Jul 2023, 00:03 last edited by
                                      #749

                                      @Horace said in Elon Musk buys a big chunk of Twitter:

                                      I guess he's not actually all talk when it comes to free speech.

                                      He's suppressing conversations on Twitter about Threads if those conversations portray the new platform in a positive light. Wasn't showing up on trending topics, either, when it's the fastest growing platform basically ever.

                                      Please love yourself.

                                      HoraceH 1 Reply Last reply 10 Jul 2023, 00:54
                                      • Aqua LetiferA Aqua Letifer
                                        10 Jul 2023, 00:03

                                        @Horace said in Elon Musk buys a big chunk of Twitter:

                                        I guess he's not actually all talk when it comes to free speech.

                                        He's suppressing conversations on Twitter about Threads if those conversations portray the new platform in a positive light. Wasn't showing up on trending topics, either, when it's the fastest growing platform basically ever.

                                        HoraceH Offline
                                        HoraceH Offline
                                        Horace
                                        wrote on 10 Jul 2023, 00:54 last edited by
                                        #750

                                        @Aqua-Letifer said in Elon Musk buys a big chunk of Twitter:

                                        @Horace said in Elon Musk buys a big chunk of Twitter:

                                        I guess he's not actually all talk when it comes to free speech.

                                        He's suppressing conversations on Twitter about Threads if those conversations portray the new platform in a positive light. Wasn't showing up on trending topics, either, when it's the fastest growing platform basically ever.

                                        He's allowed to protect his business interests. Zuckerberg thinks his more policed version of Twitter is in his best business interest. We'll see which one wins. But Musk isn't obligated to platform advertisements or word of mouth for the competition.

                                        Education is extremely important.

                                        Aqua LetiferA 1 Reply Last reply 10 Jul 2023, 01:45
                                        • HoraceH Horace
                                          10 Jul 2023, 00:54

                                          @Aqua-Letifer said in Elon Musk buys a big chunk of Twitter:

                                          @Horace said in Elon Musk buys a big chunk of Twitter:

                                          I guess he's not actually all talk when it comes to free speech.

                                          He's suppressing conversations on Twitter about Threads if those conversations portray the new platform in a positive light. Wasn't showing up on trending topics, either, when it's the fastest growing platform basically ever.

                                          He's allowed to protect his business interests. Zuckerberg thinks his more policed version of Twitter is in his best business interest. We'll see which one wins. But Musk isn't obligated to platform advertisements or word of mouth for the competition.

                                          Aqua LetiferA Offline
                                          Aqua LetiferA Offline
                                          Aqua Letifer
                                          wrote on 10 Jul 2023, 01:45 last edited by
                                          #751

                                          @Horace said in Elon Musk buys a big chunk of Twitter:

                                          @Aqua-Letifer said in Elon Musk buys a big chunk of Twitter:

                                          @Horace said in Elon Musk buys a big chunk of Twitter:

                                          I guess he's not actually all talk when it comes to free speech.

                                          He's suppressing conversations on Twitter about Threads if those conversations portray the new platform in a positive light. Wasn't showing up on trending topics, either, when it's the fastest growing platform basically ever.

                                          He's allowed to protect his business interests. Zuckerberg thinks his more policed version of Twitter is in his best business interest. We'll see which one wins. But Musk isn't obligated to platform advertisements or word of mouth for the competition.

                                          🙄

                                          He's totally allowed to do that. And Tweet "Zuck is a cuck" to his heart's content. But neither of them give a damn about free speech. They're not in the free speech business.

                                          Please love yourself.

                                          HoraceH 1 Reply Last reply 10 Jul 2023, 02:08
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