Elon Musk said over the weekend that Twitter's advertising revenue has fallen by 50% since he bought the company, and that it's not cash flow positive.
      • Chozo@kbin.social
        31·
        1 year ago

        Anything is worth whatever somebody is willing to pay for it.

        This dumb bastard just happened to be willing to pay $44 billion.

        • CileTheSane@kbin.social
          19·
          1 year ago

          Actually, Musk didn’t want to pay anything for Twitter, but was willing to pay $44 billion to avoid the discovery process.

          • flipht@kbin.social
            17·
            1 year ago

            Excellent point, lest anyone forget that he was really just running his mouth and got too far in before the mania dropped.

          • MidwestMayonaiseSalad@lemmy.worldEnglish
            12·
            1 year ago

            I don’t think it was even that. He was so 100% going to lose the fight to not buy Twitter that even for someone with his resources it wasn’t worth fighting. He made a weak attempt to embarrass Twitter into backing out due to public opinion, but didn’t really have any options after that. He just fucked up that magnificently with the initial contract.

        • Pons_Aelius@kbin.social
          16·
          1 year ago

          True but It is like a reverse Schrödinger valuation.

          When EM offered 44B, that was twitter’s value until the transaction was complete.

          Now it is only worth what someone else will pay for it…