Go F Yourself meltdown is probably the final nail in the coffin. It does seem like space nazi knows it’s doomed. Anyone know what happens when bankruptcy happens? Does creditors take over the company? Does he get sued for negligence? Does it get sold to a highest bidder for pennies on the dollar? I’m hoping someone can enlighten us.
The first kind of bankruptcy, Elon & his Saudi bros keep the company, and the banks lose like 50-90% of their loans.
The second kind of bankruptcy, the banks get all the servers and office chairs and sell them to either a new data-mining company or a recycler. This isn’t very likely, because most of the value of Xitter is all the people who keep visiting, regardless of whether Elon knows how to monetize them.
He wants to turn it into a financial services super-app. I wonder if he is just so supremely arrogant in assuming it will be a success, that he thinks he doesn't need advertising revenue. Personally I don't think anyone would use it. What could he offer that's any different from existing banking apps? And why would anyone trust him with their money?
Go F Yourself meltdown is probably the final nail in the coffin.
I'll believe it once they're actually bankrupt. So many things have been predicted as "killing" the company in the last year yet somehow they're still going and millions and millions of morons/addicts are still using it.
Yeah. About 47% of all internet traffic is bots and that number seems to be growing year over year. Twitter does still need people to serve advertisements too. So the number of people who continue to use the service does matter. But because it’s directly correlated to the amount of advertisers who will continue to support the platform by paying Twitter to run the ads. But I do think you’re correct. The debt is what will cause problems if advertisers keep bailing. Twitter hasn’t been paying any of its bills.
I never really understood the interest even from day 1 back in 2009 out wherever. I only used it to shame companies when their support teams wouldn’t help and that only lasted a few years.
yeah same. it always seemed really self-absorbed. I never even touched Twitter until 2020, when I was surprised to hear about all this great political discourse going on. I was… disappointed. No good dialog can happen in 140 characters. rarely bothered to post, read, or log on. it’s just this obnoxious self-promoting slam-dunking virtue-signaling dance.
Pretty sure it’s an inevitability at this point and Musk knows it, which is precisely why he’s fueling the flames of the whole ad situation. Since the whole controversy are both about the Jews (as in antisemitism) and advertisers, they can be blamed for the death of the platform instead of business decisions by Musk.
There’s also the possibility that some right-wing billionaires who really love to spread their propaganda using twitter are going to buy the company or bail it out or whatever, but that remains to be seen
Was it ever profitable? I always thought twitter was always in the red and the only time it made money was when it sued Elon to buy it due to his arrogance and coz it minupilated the stock prices on twitter.
They claim to be on track to make another profit year in 2024. Remains to be seen. In a way, now that Elon owns it alone, it’s not as vulnerable to quarterly economics that public companies are. But of course it cannot bleed money forever.
Does it even matter? Twitter is a cesspool! It only has 1500 employees. In the grand scheme of things there will be negligible economic backlash from this company going under.
Nobody really cares if Elon loses all that money and the 1500 employees will be able to find employment elsewhere.
It’s not the economic side of twitter that matters, but the informational aspects of the network which are now lost, that is the sad thing. It was used by many journalists and other important peer groups as a live news source for which there is currently no equivalent replacement.
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