Elmo says Twitter is worth less than half of what he bought it for, which either means he managed to piss away tens of billions of valuation in six months, or he grossly overpaid for the site.
Agile capital destruction!
In all honesty, I think he’s trying to anchor the market to a higher number than it might be worth.
Yeah, I doubt it’s worth $20 billion at the moment. Sounds like a mini-pump’n’dump. He’s decided to take a sizable hit (no choice, really) but thinks he can get other people to subsidize part of his own stupidity.
Why couldn’t it be both? Elmo is a multitasker with multiple skillz!
I wouldn’t doubt it, but there’s currently no market for Twitter shares, and it’s hard to imagine any private investor stupid enough to buy out some portion of Elmo’s holdings at this point. Except maybe at a very steep discount far below book value and on the conditions that Elmo step down immediately and that the company go public and establish a competent board of directors of which Elmo would NOT be a part. The hard reality seems to be that he got himself cornered into the position where he was forced to buy it at a grossly inflated price, proceeded to shit all over it, and now he’s left with the near-worthless steaming pile that he created.
“I just blue Twitter” – Tobias Musk.
I have been saying this for a while now. Long before Musk was ever on the Twitter board, he saw Twitter shitposting as a game that he wanted to win. He couldn’t do it via skill, so he bought the company.
Of course he’d prefer for Twitter to become wildly profitable, for him to add “social media savior” to his resume. But those are just extra game achievements. On the day that Twitter goes bankrupt, he’ll lie back in his bed with a smile on his face, and think to himself “At least I finally finished that goddamned game.”
Has anyone mentioned that it will be a thou a month for companies to get a checkmark?
That’s only twenty bucks a foot. A bargain!
It verifies that someone has $1,000/month, and that’s all that matters in this world, right?
Well, it verifies that someone has at least $1000 a month worth of more money than brains, and that’s always good to know, especially if you’re a Nigerian prince.
The main thing for me, and I know it’s been mentioned before, but I won’t trust any checkmarks now, if all you need to do to get one is pay for it.
Precisely, and that destroys the entire reason for Twitter’s existence. The whole point of Twitter is that you get to read, and even have conversations with, real people : Real celebrities, real sportspeople, real company spokespeople, etc.
I’m still on Twitter a lot because my feed is curated to those accounts I have known for awhile and can trust. Following new accounts might be problematic.
Elmo has decided to make it even easier for us to find out who to block.
I have to give Elmo credit for one thing, at least. Profitability being the difference between what it costs to provide goods or services and what you charge for them, charging $1000 a month for something that costs exactly nothing to produce is quite an attractive business proposition. Although I seem to recall Elmo’s sole remaining marketing dude (probably fired by now) mentioning other benefits besides a tiny picture of a blue checkmark. I think you were entitled to receive Special Offers suggesting even more ways that you can be parted from your money.
Wait… he’s generating INFINITE profit with the blue check marks???
Well, I take it all back, he is a genius. All hail my new God, Elon Musk!
(Agile conversion)
Nice of him to admit the site is now increasingly overrun by bots and that Twitter are struggling to contain them.
Agile failure!
More like
Agile Bots!
Of course the problem isn’t the presence of bots, the problem is that the Bots aren’t giving him money. But with the new Blue Checkmarks people can get their spam bots fast tracked to the masses.
The second problem is that polls keep giving the wrong answer. They keep saying obviously incorrect things, like that Blue Checkmarks are a stupid idea, and that he’s doing a lousy job as CEO. By restricting the polls to only those who think Blue Checkmarks are a swell idea he’ll get answer much more in tune with his approved reality.
Literal tears. 