Linda Yaccarino again claims advertisers are returning to X. Here are the facts.
Linda Yaccarino again claims advertisers are returning to X. Here are the facts.
www.mediamatters.org
Linda Yaccarino again claims advertisers are returning to X. Here are the facts.
tl;dr They're spending 90% less over the past 3 months than they did 3 mo before acquisition
Are there any legal implications when knowingly lying about the profitability of a privately held company like X?
She's not lying, she's just not saying the whole truth. It's totally true advertisers are returning.
They're returning at a steep discount.
Plus some are leaving faster then others are returning.
Unlikely. There aren't any shareholders to screw over and it doesn't look like Musk has any desire to sell Twitter at the moment (I refuse to call it X).
Jack Dorsey, a clutch of Saudis, and at least one bank have multiple billions of dollars still invested. When I read that Dorsey was leaving a bit over a billion on the table by not cashing out at $54.20. I assumed that he had done a back room deal where Musk agreed to redeem Dorsey’s shares at $54.20 no matter the current valuation, and that recently came out as being the case. I assume he had to make a similar agreement with the Saudis, but the bank has already marked down their investment by about 70%.
Still, Musk remains the most fucked since he’s not only on the hook for the $1B per year interest payments but also is still the largest single investor. I suspect between hemorrhaging money, guaranteed buy backs, and loss of value versus TSLA or whatever else he used for collateral that he’s going to lose more than his $40B stake. That would be quite the feat, and I’d love to celebrate it by sending a bottle of champagne to him at Twitter HQ.
Yes, if they lie on anything official then it's investor fraud.
No investors, it's a private firm by musk who took loans against it.