#twitter now worth $20 billion - $22 billion less than what musk paid for it

[tomorrowusa]

Since Musk took over he has set about dismantling everything that made Twitter valuable — making it his mission to drive out expertise, scare away celebrities, bully reporters and — on the flip side — reward the bad actors, spammers and sycophants who thrive in the opposite environment: An information vacuum.    It almost doesn’t matter if this is deliberate sabotage by Musk or the blundering stupidity of a clueless idiot. The upshot is the same: Twitter is dying.   [ ... ]     Musk has applied his vast wealth to destroying as much of the information network’s value as possible in as short a time as possible; each decision triggering another exodus of expertise as more long-time users give up and depart.    Simply put, Musk is flushing Twitter down the sink. I guess now we all know what the dumb meme really meant.

Natasha Lomas at TechCrunch.

There may still be a few people who regard Elon Musk as some sort of “genius”.

In business, the bottom line is the bottom line. Since the Musk takeover, Twitter has lost more than half its value. Would you want to advertise on a platform which rolls out the red carpet for Nazis?

Elon Musk concedes Twitter is now worth less than half what he paid in email about stock grants, report says

Elon Musk admitted that Twitter is now worth less than half what he paid in an email about stock grants to employees, reports say.

Zoë Schiffer, the managing editor of Platformer, tweeted Saturday that Musk told staff Twitter had been through a period of radical but necessary change because it'd been "about 4 months away from running out of money. Now, he says, the financial incentives of employees should align with the company."

She tweeted that the stock grants were based on a "$20b valuation." Musk paid $44 billion to take control of Twitter in late October.

[avshop-blog]

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