Yeah, he’s creating an excellent tax write-off.
Assuming that it’s still a C-Corporation, the only write-off would be when he sells it. And to get any use out of the loss besides $3,000 a year, he’d have to have comparable capital gains, which presumably means selling Tesla shares. So yeah, it might be a good plan to both get him out of holding mostly Tesla stock and take down the Twitter empire he hated in the process of diversifying his portfolio with minimal tax consequence.
I was mostly joking. “Deliberately lose money to generate a profitable tax write-off” is a pretty standard joke in accounting. Kinda like “we lose money on every sale but we make it up on the volume!” The humor is in the unstated nonsequitur just below the surface.
But he can also fold Twitter Inc into some other profitable entity, take all the stock loss as negative “goodwill” when he does so and in effect run the other one as an untaxed profitable company for some time.
And yes, destroy the hated “woke” version of twitter which was/is his actual goal all along. Along with generating hate for himself from the wokerati and love for himself from the trogs.
NYT says that Twitter ad revenue is down 59%, year-over-year.
I’m honestly quite surprised there are any major advertisers left. They must be getting an amazing deal to be willing to have their brands next to extreme far-right stuff.
It’s actually still quite possible to arrange your timeline so no right wing political stuff shows up. I do. You just have to avoid following any news or current events accounts.
Interestingly, one of the big advertisers still on is Disney.
Agile compensation plan.
Sounds like Elon is playing “Who moved my cheese?” with his minions. He can probably move cheese better than most of the workers can pursue cheese.
I’m admittedly a bit pissed, as I get a lot of UKR-war coverage out of 3 or 4 twitter accounts …
no longer the case …
It seems they have too many visitors on the site and need to see how they can shed a couple of million page views per day… ;o/
any thought about a “why”??? (fwiw: I am not signing up for an account)
From the horse’s mouth:
That should help the advertising revenue.
Translation: Our servers are failing because I fired all the people who knew how to maintain them. Give me $8!
Yeah, what he’s calling “data pillaging” is what normal tech companies call “usage”, and it’s what they try to get.
If they’re taking data and not paying for it, it’s theft. Theft at scale is sometimes called pillage. Coming soon to a twitter near you: not pay to post, but pay to read.
Interesting article about the end of social media. Hmmm, maybe a little niche place on the web to post stuff and build a community isn’t such a bad idea.
Message boards are back, I tell you!
SDMB renaissance!
Off the article:
“There’s simply no place left on the internet that feels like a good, healthy, worthwhile place to hang out.”
I find plenty of such places, in various online forums which aren’t for everyone and their aunt.
Yeah, everybody talks about the “public square” but in RealWorld we did not all hang out in the same public square all day.
Depending on your interests you’d be variously at the cofeeshop, the faculty lounge, the student bar, the country bar, the fancy martini/cigar bar, the gay club, the punk club, the Mall food court, the bookshop, the gym, and even in the “public park” you’d have some people over at the chess tables, some at the dog run, some on soapboxes at Speakers’ Corner, all happily engaging with people with common interests and ignoring the others unless curiosity drove them to check it out, and then easily walking away if they did not like it and it would not (normally) chase them home.
At least one ex-employee won a settlement. meanwhile, Others forced into arbitration have to sue to have the arbitration happen because (no surprise) Twitter refuses to pay the arbitration fees:
Brian