Elon Musk buys a big chunk of Twitter
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Good thing nothing really important happens on Twitter; it’s not like he was messing with the nation’s critical infrastructures like, banking, utilities, or transportation.
wrote on 30 Aug 2024, 11:39 last edited by@Axtremus said in Elon Musk buys a big chunk of Twitter:
Good thing nothing really important happens on Twitter
Is there a social media platform on which something important does happen?
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wrote on 30 Aug 2024, 11:53 last edited by
@George-K said in Elon Musk buys a big chunk of Twitter:
To his credit, he changed his mind after realizing it was a mistake.
Yes but his best lawyers couldn’t get him out of the contract so he had to buy the company after all.
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wrote on 3 Sept 2024, 09:54 last edited by
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wrote on 6 Sept 2024, 01:33 last edited by
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. -
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.wrote on 6 Sept 2024, 01:36 last edited by@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!
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wrote on 24 Sept 2024, 12:21 last edited by
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wrote on 24 Sept 2024, 13:30 last edited by
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.
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wrote on 2 Oct 2024, 14:42 last edited by
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/
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wrote on 2 Oct 2024, 14:48 last edited by
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.
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wrote on 2 Oct 2024, 14:55 last edited by jon-nyc 10 Feb 2024, 14:56
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.
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wrote on 3 Feb 2025, 19:29 last edited by
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.
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wrote on 11 Feb 2025, 16:44 last edited by
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.
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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
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wrote on 19 Feb 2025, 02:06 last edited by
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
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wrote on 22 Feb 2025, 01:26 last edited by
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.
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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."
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wrote on 22 Feb 2025, 06:07 last edited by
Yeah he’s going to ‘fix’ community notes so it doesn’t question the wrong people.
Meet the new boss…..
