“Fidelity is currently valuing X at about $9.4 billion”
I found this funny.
Honestly terrifying that they still think it is worth that much.
they still own the twitter trademark, that might be their biggest asset
Since they don’t seem to care about it, start using “tweet” for every social media post to devalue them further.
Tweets are a specific type of a microblog post you do on twitters. Have you tried tweeting, make your own twitter at https://joinmastodon.org/ today!
Which has been crashed and burned to a fraction of its value.
If someone were to buy it, ban the Nazis and get advertisers to come back it’s still salvageable, I guess. The longer Musk owns it, the bigger the chance is that it’ll become the next MySpace.
At least the MySpace guy was able to run a fun site, cash out before social media became crazy, and spend the rest of his life having fun with that money.
Trump will lose, and Musk will be holding on to a useless site that serves nothing. He’ll probably sell for a fraction of what he paid (not that it was his money in the first place), but by that point it’ll be too late. Twitter will be long dead.
I doubt the saudis will be very happy if Musk doesn’t repay them their investment. I’m surprised they haven’t threatened him into stepping down and handing their investment to someone who can properly manage a social media platform already
That’ll probably be what happens if Trump loses. Musk didn’t spend “his” money so it’s no loss, and many from the Middle East have wanted control of Twitter ever since the Arab Spring.
I think MySpace is a more likely scenario that the former already.
It’s only worth as much as anyone’s willing to pay for it. Take a look at any of these tech start ups that do something very insignificant slightly differently than their competitor. VALUATION 100 BILLION DOLLARS!
I wouldn’t be surprised if part of this remaining value is because the Japanese internet still heavily relies on it as a platform, even if the west has begun moving elsewhere.
I was going to say that they could have stopped the headline at “quarter” as far as I’m concerned.
This is the stock market, the value is set by what investors think the value could be. Mostly, they’re probably assuming people would come back if he sold it. Literally everyone knows the name Twitter.
This actually isn’t the stock market, Twitter isn’t publicly traded since being bought.
Just because it’s not publicly traded, doesn’t mean that there isn’t stock nor that there’s no market. Usually, you can technically still buy/sell the stock, just not as a random member of the public on a public stock exchange like the NYSE or FTSE.
There’s usually defined periods for sales as well. Gives employees and other stock holders a way to cash out and get new investors in.
I understand the basics. I still find it difficult to grasp why it is worth 9 billion.
Musk did not buy this as an investment. He bought it to flip elections and manipulate public opinion.
Tesla is writing him a check that will cover the entire purchase price, and Saudi Arabia and Russia will pay the operating costs.
Active users are what matters; if they lost 75% of their users then I’m paying attention.
Correct me if I’m wrong but I’m pretty sure he gave an outlandish bid for Twitter to manipulate it’s stock prices when he pulled put, but he was sued into following through.
I don’t think he ever wanted to buy it, or at least he wanted to crash it’s value to come back and buy it on the cheap.
