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The New Coffee Room

  1. TNCR
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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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  • taiwan_girlT Offline
    taiwan_girlT Offline
    taiwan_girl
    wrote on last edited by
    #790

    https://mashable.com/article/elon-musk-x-more-advertisers-pull-back-in-2025

    As Elon Musk struggled to rebuild X's ability to generate revenue, the site suffered a mass advertiser exodus late last year, and at least some of those departures were evidently due to pro-nazi content. A few months later, Musk told advertisers "go fuck yourself."

    And this was all right before Musk shared that the former Twitter's revenue was already down by 60 percent from before his acquisition.

    It looks like 2025 isn't going to be any better for X. A new report from UK market research firm Kantar found that 26 percent of marketers are planning to reduce their ad spend on Musk's platform next year.
    According to Kantar's research, this was the "biggest recorded pullback" from any of the major global advertising platforms.

    Doctor PhibesD 1 Reply Last reply
    • taiwan_girlT taiwan_girl

      https://mashable.com/article/elon-musk-x-more-advertisers-pull-back-in-2025

      As Elon Musk struggled to rebuild X's ability to generate revenue, the site suffered a mass advertiser exodus late last year, and at least some of those departures were evidently due to pro-nazi content. A few months later, Musk told advertisers "go fuck yourself."

      And this was all right before Musk shared that the former Twitter's revenue was already down by 60 percent from before his acquisition.

      It looks like 2025 isn't going to be any better for X. A new report from UK market research firm Kantar found that 26 percent of marketers are planning to reduce their ad spend on Musk's platform next year.
      According to Kantar's research, this was the "biggest recorded pullback" from any of the major global advertising platforms.

      Doctor PhibesD Offline
      Doctor PhibesD Offline
      Doctor Phibes
      wrote on last edited by
      #791

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

      https://mashable.com/article/elon-musk-x-more-advertisers-pull-back-in-2025

      As Elon Musk struggled to rebuild X's ability to generate revenue, the site suffered a mass advertiser exodus late last year, and at least some of those departures were evidently due to pro-nazi content. A few months later, Musk told advertisers "go fuck yourself."

      And this was all right before Musk shared that the former Twitter's revenue was already down by 60 percent from before his acquisition.

      It looks like 2025 isn't going to be any better for X. A new report from UK market research firm Kantar found that 26 percent of marketers are planning to reduce their ad spend on Musk's platform next year.
      According to Kantar's research, this was the "biggest recorded pullback" from any of the major global advertising platforms.

      Didn't he sue some companies a while back for not advertising on X?

      Because obviously that's going to bring them running back!

      I was only joking

      1 Reply Last reply
      • jon-nycJ Offline
        jon-nycJ Offline
        jon-nyc
        wrote on last edited by
        #792

        Only non-witches get due process.

        • Cotton Mather, Salem Massachusetts, 1692
        1 Reply Last reply
        • KlausK Offline
          KlausK Offline
          Klaus
          wrote on last edited by
          #793

          That data doesn't necessarily mean anything.

          It doesn't include people using the X app.

          It doesn't account for potential bot purges.

          SimilarWeb does not have access to the actual data. They need to estimate it from various other data points, and that estimation can easily be off by a factor of 2.

          1 Reply Last reply
          • jon-nycJ Offline
            jon-nycJ Offline
            jon-nyc
            wrote on last edited by
            #794

            Fidelity has written 80% of the value off of its investment in X.

            https://techcrunch.com/2024/09/29/fidelity-has-cut-xs-value-by-79-since-musk-purchase/

            Only non-witches get due process.

            • Cotton Mather, Salem Massachusetts, 1692
            1 Reply Last reply
            • HoraceH Offline
              HoraceH Offline
              Horace
              wrote on last edited by
              #795

              Has their user base really taken that much of a hit? Or maybe Fidelity is taking advantage of the illiquid private equity markets, which have recently tanked as per a story linked to here yesterday, for an advantageous tax write off.

              Education is extremely important.

              1 Reply Last reply
              • jon-nycJ Offline
                jon-nycJ Offline
                jon-nyc
                wrote on last edited by jon-nyc
                #796

                They’d need a valuation model that would survive an audit. I doubt they’re fucking with it. Doesn’t mean their model is perfect. Hard to imagine how to value it, it has meme stock potential and you can’t very well model that.

                Only non-witches get due process.

                • Cotton Mather, Salem Massachusetts, 1692
                1 Reply Last reply
                • taiwan_girlT Offline
                  taiwan_girlT Offline
                  taiwan_girl
                  wrote on last edited by
                  #797

                  https://www.npr.org/2025/02/01/nx-s1-5283271/elon-musk-lawsuit-advertisers-boycott-new

                  Elon Musk's X broadened an existing lawsuit on Saturday to include several major brands — accusing more companies of illegally boycotting the social media platform in 2022 following Musk's acquisition.

                  The suit, which was filed last year in a federal court in Texas, initially targeted the boycott organizer, the World Federation of Advertisers, along with companies including CVS and video-streaming platform Twitch.

                  But early on Saturday, Musk's lawyers filed an amended complaint, adding several new defendants, including Lego, Nestlé, Tyson Foods, Abbott Laboratories, Colgate-Palmolive, Pinterest and Shell International.

                  1 Reply Last reply
                  • taiwan_girlT Offline
                    taiwan_girlT Offline
                    taiwan_girl
                    wrote on last edited by
                    #798

                    A group of investors led by Elon Musk is offering about $97.4 billion to buy the nonprofit behind OpenAI, escalating a dispute with the artificial intelligence company that Musk helped found a decade ago.

                    and

                    OpenAI CEO Sam Altman quickly rejected the unsolicited bid on Musk’s social platform X, saying, “no thank you but we will buy Twitter for $9.74 billion if you want.”

                    https://apnews.com/article/elon-musk-openai-bid-chatgpt-sam-altman-b1ad37fe4fe70e3b5d283940bd3b8215

                    1 Reply Last reply
                    • taiwan_girlT Offline
                      taiwan_girlT Offline
                      taiwan_girl
                      wrote on last edited by
                      #799

                      Morgan Stanley and other lenders to Elon Musk's Twitter takeover yesterday reportedly sold around $4.7 billion of X debt at face value.

                      This blows away expectations for the deal, in terms of both volume and pricing, and leaves creditors with only around $1.3 billion of their $12.5 billion outlay.

                      Original plans were to sell $3 billion of debt at a 10%-20% discount.

                      One explanation is that X has improved its finances, although that's still fuzzy. For example, WSJ recently reported that X's 2024 revenue includes "hundreds of millions of dollars" transferred from xAI, leaving unclear if there's been any organic top-line growth.

                      Better rationales are Musk's newfound proximity to power and the social media company's equity stake in xAI.

                      https://www.axios.com/2025/02/14/lenders-elon-musk-twitter-x-takeover

                      1 Reply Last reply
                      • taiwan_girlT Offline
                        taiwan_girlT Offline
                        taiwan_girl
                        wrote on last edited by
                        #800

                        Elon Musk apparently no longer believes that crowdsourcing fact-checking through Community Notes can never be manipulated and is, thus, the best way to correct bad posts on his social media platform X.

                        and

                        Although other independent polling recently documented a similar increase in Zelenskyy's approval rating, NBC News reported, the specific poll cited in X notes contradicted Donald Trump's claim that Zelenskyy is unpopular, and Musk seemed to expect X notes should instead be providing context to defend Trump's viewpoint. Musk even suggested that by pointing to the supposedly government-linked poll in Community Notes, X users were spreading misinformation.

                        "It should be utterly obvious that a Zelensky[y]-controlled poll about his OWN approval is not credible!!" Musk wrote on X.

                        Musk's attack on Community Notes is somewhat surprising. Although he has always maintained that Community Notes aren't "perfect," he has defended Community Notes through multiple European Union probes challenging their effectiveness and declared that the goal of the crowdsourcing effort was to make X "by far the best source of truth on Earth." At CES 2025, X CEO Linda Yaccarino bragged that Community Notes are "good for the world."

                        https://arstechnica.com/tech-policy/2025/02/elon-musk-to-fix-community-notes-after-they-contradict-trump/

                        1 Reply Last reply
                        • jon-nycJ Offline
                          jon-nycJ Offline
                          jon-nyc
                          wrote on last edited by
                          #801

                          Yeah he’s going to ‘fix’ community notes so it doesn’t question the wrong people.

                          Meet the new boss…..

                          Only non-witches get due process.

                          • Cotton Mather, Salem Massachusetts, 1692
                          1 Reply Last reply
                          • AxtremusA Offline
                            AxtremusA Offline
                            Axtremus
                            wrote last edited by
                            #802

                            https://www.reuters.com/business/musks-x-down-tens-thousands-us-users-downdetector-shows-2025-05-24/

                            Musk's X down for tens of thousands of US users, ...

                            1 Reply Last reply
                            • jon-nycJ Offline
                              jon-nycJ Offline
                              jon-nyc
                              wrote last edited by
                              #803

                              It’s been glitchy for a couple of days

                              Only non-witches get due process.

                              • Cotton Mather, Salem Massachusetts, 1692
                              1 Reply Last reply
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