As He Realized His Mistake, Elon Musk Begged Twitter Staff to Turn Off the New Feature He'd Pushed For
As He Realized His Mistake, Elon Musk Begged Twitter Staff to Turn Off the New Feature He'd Pushed For
The fact that this tweet caused their stock price to dive really shows what a joke the stock market is .
This a beautiful story. Bankers get shafted lending money to apex capitalist.
🤌
Some days ago I read an article here that said that a lot of the money came from Russia and that they are getting exactly what they wanted: chaos
No one has ever explained how bankers are losing. They say they've lost money. Yet the only details are Musk has to make payments and put up Tesla stock as collateral. That a no lose for the banks. They don't care if Tesla stock crashes, they are making money from selling it.
If Tesla's stock crashes, then the value the banks could get from selling it is much lower.
If Twitter and Tesla go bankrupt, the banks will have loaned out billions to own something worthless.
At least I would assume that's how it works.
It's because when banks make loans, they sell of the debt, but nobody has wanted to buy the debt for Musk's loans. My understanding of this is essentially, if someone takes out a loan of $100 million, the bank will sell that debt to an investor for $101 million, and the investor will make back $102 million once the loan is paid off due to interest. But no investors are confident enough that Musk will pay back his loan so no one is ponying up the dough to buy it.
I remember reading that the banks who loaned him the money haven't been able to sell off the debt.
I'm GLAD we don't tax Billionaires like Musk! Imagine if instead of buying a Website for $44BILLION he instead bought kids $44BILLION worth of School Lunch! The HORROR!
Watching Twitter die the slow agonizing cancerous death it deserves makes me all warm and fuzzy inside.
Is it dying though? It is getting worse and worse but I don't think people are leaving in huge numbers
Oh yes, they are. Every content creator that’s still on Twitter for some reason complains about how engagement is way down. Many are considering leaving Twitter, if they haven’t already. Of course, some groups still remain for now, but it’s just a matter of time until everyone who isn’t a full on Nazi has left that pile of garbage.
Ugh... it drives me nuts!
Musk had to borrow around $13 billion for his doomed $44 billion acquisition.
Had he spent that $57 $44 billion on developing space hardware instead of going insane and squandering it on social media bullshit, he might have done something worthwhile. I mean... fifty seven billion! What even is that much money? He could have had his own space station for that much money! He could fly up there for weekends, just for funzies.
Why didn’t he just spend his own billions to prop up his venture? Oh, because he doesn’t want to pay taxes.
That's not how math works.
No, my math is just fine, it's my reading comprehension that needs work, because I totally misunderstood what that sentence was saying.
he might have done something worthwhile
No, he wouldn't have. Musk is an incompetent billionaire parasite, even more incompetent than the average billionaire parasite, and would have simply squandered his ill-gotten money on something else.
It was the paid blue checkmark for $8 back in 2022.
Kinda old article info without much current stuff except the lawsuit against the ad trade group.
Still makes me gleeful reading about his stupidity.
It does, until you realise that his monstrous wealth insulates him from any consequences, deflecting them onto the heads of mortals. No matter what he does, he’ll be alright.
Savedyouaclick
Thank you!
And that's why I never click. At this point getting Rick rolled would be fresher news.