Fidelity has again marked down the value of its shares in X Holdings, which the mutual fund giant helped Elon Musk buy for $44 billion when the company was known as Twitter.
By the numbers: Fidelity believes that X is worth 71.5% less than at the time of purchase, according to a new disclosure that runs through the end of November 2023 (Fidelity revalues private shares on a one-month lag).
According to Fidelity’s assessment, the value of X Holdings stands at $12.54 billion, a long fall from the $44 billion that Musk invested in the acquisition.
I delighted in being able to show this headline to guests last night after we’d riffed on what an idiot Lonnie was a couple hours earlier. Lonnie-boy just keeps delivering. When he fucks up his fortune and lives in shame and disgrace I’ll be happy. Until then, I don’t want to hear about his every dumb post. But news of his company’s failure can continue. Please proceed.
Xtwitter is obviously a dumpster fire, but it’s Tesla that’s going to disintegrate the most wealth. Does anybody really think that company is worth more than the GDP of Taiwan?
Yes but neither company has a competitor to the Model S, Y, or 3, which I believe are far and away the most popular models. Until there is legit competition in that space, Tesla will probably remain stable. More companies are getting there but it’s been very slow going.
𝕏 is actually a Unicode symbol, so musk can’t trademark it
That’s not true, it absolutely can be a trademark. You might be thinking of copyright - he can’t copyright the current 𝕏 logo.
The rights you’d get from each protection are different and a sensible business probably would want both. Trademark protection would prevent another tech company trading as 𝕏; copyright protection for the logo would let you set terms on how it is used.
So in this case, I cannot open a company called 𝕏 that uses social media to share elons flights, but I could open a company called Elon Tracker and use the logo 𝕏?
Yes, but if Elon opened a fledgling company to track himself with 𝕏 money, he’d have a great arguement to take the name from you and do nothing with it.
No, those are both trademarks, you’re associating 𝕏 with your tech business (to the extent that Elon Tracker is a tech business).
But if you start a plumbing business you can call it 𝕏, because trademarks are industry-specific.
You might be able to get away with starting a business called XYZ and putting 𝕏 symbols all over your website as long as it obviously isn’t your logo.
Or you can publish images of people doing unspeakable things with the 𝕏 logo. As long as you are not claiming to be 𝕏, you can use the 𝕏 glyph however you like.
This is not true of the bird logo. You aren’t by default allowed to reproduce it, so the company can allow you to, with extra conditions of their choosing. They can make you take down images of people doing unspeakable things with the bird logo, on the basis that it contravenes their terms and therefore is not covered by the license.
I mean, I don't even understand why Fidelity felt the need to join the buyout. I guess they own a lot of meta stock so figure they'll make up the stupidity induced losses?
Are you aware Meta stock is one of the best big tech performing stocks this year with 200% growth after the COVID bubble crash, and is just under 5% off it’s ATH?
It’s almost like professional businesses know what they’re doing (most the time) and random Lemming/redditors know actual jack shit.
I don't think you understood my comment. I was implying that they owned enough meta stock that sinking Twitter would be a net zero situation for them if meta picked up the slack by taking twitters market share. They actually own so much they might even make a profit.
😁 I thought about this when posting, but unlike numbers a company only has to devalue so much before it collapses. Like a stilt house and every day you remove 50% of each support beam, you’ll find the house crashes down before you have to worry about never hitting zero support beams.
Such an idiot, what does he know with his multiple successful companies and billions of dollars. He's such an idiot for speaking out against what you've been told to believe. Doesn't he know that whatever the news has told you is right? He's such an idiot.
Nobody cares about your worship. He isn't a god. As a man or woman you're not even in the same category. You're closer to a dog who eats their own shit. What are your accomplishments?
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