[ SECRET POST #5788 ]

[case]

⌈ Secret Post #5788 ⌋

Warning: Some secrets are NOT worksafe and may contain SPOILERS.


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Notes:

Secrets Left to Post: 01 pages, 12 secrets from Secret Submission Post #828.
Secrets Not Posted: [ 0 - broken links ], [ 0 - not!secrets ], [ 0 - not!fandom ], [ 0 - too big ], [ 0 - repeat ].
Current Secret Submissions Post: here.
Suggestions, comments, and concerns should go here.

Comments

The crazy thing about all of this

[(Anonymous)]

All of this is completely unnecessary. It's a total unforced error. Elon Musk just decided for no reason at all to set a bunch of money on fire

Musk could literally have just bought Twitter at a more reasonable valuation so he didn't have to take on so much debt and increased cash flow by firing some employees and adding a subscription option that didn't conflict with verification. Twitter was already a successful social media network that was making back its costs! It didn't need dramatic changes! He could have just put someone else in charge and mostly let them keep doing what they were doing, and he would have been the owner of one of the most important parts of the global information ecosystem and it would have been fine for him.

Instead he decided to alienate the entire user base, fire literally everyone, and drive the site into the ground.

Cocaine's a hell of a drug.

Re: The crazy thing about all of this

[(Anonymous)]

It was actually hemmoraghing £4 million a day.

Re: The crazy thing about all of this

[(Anonymous)]

Where are you getting that figure? I'm not sure that's accurate.

Re: The crazy thing about all of this

[(Anonymous)]

NAYRT, it isn't. Twitter was servicing its debt and making a small profit. It wasn't the megabucks money maker that a lot of people think, because the company carried a lot of debt, but it was in the black if only barely. And due diligence, the think Mad Lonnie waived, would have flagged that up. That is why the Twitter board were so desperate to make him buy the company at the absurdly high price he said, because they were never-ever going to get another offer that high. Musk just assumed it was worth a lot because of its omnipresence.

Re: The crazy thing about all of this

[(Anonymous)]

For the record I did just look it up

Twitter's net losses for 2021 were about $221 million, which is about $600k per day. For Q1 2022 (the last period before Elon stuff started happening) they were in the black, with net income of $513 million.