11-20-2022, 04:22 PM | #89 | |
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*I say this as someone with a Journalism degree that despises what it has become on both sides. |
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11-20-2022, 04:36 PM | #90 | |
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Amazon has something like 1.4M employees and Meta has over 70k. Twitter HAD 7k. You can't compare them based on the numbers laid off. That's just silly. Compare the layoffs and subsequent exodus at Twitter based on a % of workforce. Did Amazon, Google, and Meta put core revenue at risk with the layoffs? Did any of them leave critical departments completely unstaffed? A lot of people here defending WHY Musk came in and gutted the place. My train wreck comments were more directed at the HOW. |
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11-20-2022, 04:42 PM | #91 | ||
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11-20-2022, 05:49 PM | #92 |
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Funny how much politics affects people's view of things. If some liberal bought Twitter and fired half the company the conservatives would be laughing at what a woke dumpster fire the company was. Crazy polarizing world we live in.
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11-20-2022, 05:57 PM | #93 |
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I don't think it matters who bought the company to laugh at it for being a woke dumpster fire.
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11-20-2022, 06:03 PM | #94 | |
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You seem to be implying Musk is not a liberal… This has nothing to do with politics or your view on politics and their followers. The divide here is all having an opinion with little information. On one side, the OP and others saying Musk is making a mistake. On the other side, people saying he is doing the right thing because the company needed it (I am on this camp). We are both wrong because we don’t have enough information about the company (Musk spent MONTHS looking at classified information to us to decide what to do) and experience to make any claim. We’re just throwing rocks here… I sit on my camp because I refuse to say I know more than Musk and could do better than him, which ends up being the claim of the other camp (including those who said nothing valuable but had good choices of words for Musk). Politics has NOTHING to do with his business decisions. Saying this is like saying Musk is willing to lose money to defend his political views. Does one actually believe that? Hard to believe it but I will if you say you do… |
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11-20-2022, 06:15 PM | #95 |
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I guess this hints that people can make big bucks, even if they're a$$holes.
But still the question: "Do you have to be an a$$hole to make big money."
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11-20-2022, 06:15 PM | #96 |
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No matter what, this isn’t going to end well from a financial standpoint for Musk. Let’s just take a step back from the cultural aspect and think about the move.
He bought a slightly troubled company at the peak of a bubble for a premium that was high enough he tried to back out of the original 54.20 (so cool) per share deal. The company was purchased for over 50x EBITDA. It has struggled to monetize eyeballs because of the clean, short form text presentation that is the core of the product. Subscription services for platforms that are 100% user generated content have traditionally not done well. His moves tend to be moves that are going to reduce content moderation also, which is at direct odds with what advertisers want. You can fire as many people as you want, that’s not the real problem here. The problem is Twitter is, was, and won’t be worth even close to the impulse purchase price he paid for it anytime soon. If anyone other than Elon Musk bought Twitter for that price and made the same moves, their sanity would be questioned and their investors might even sue them. |
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11-20-2022, 08:49 PM | #97 | |||
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11-20-2022, 09:06 PM | #98 |
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This. Case closed, IMHO. Thanks for posting this chris719. That's a stat I was not aware of. I was basing my "trainwreck" status off his behavior. But 50x EBITDA? Holy shit, man! Now that's next level bonkers.
I'm sure someone will jump on here and try to defend a 50x EBITDA purchase. "He's a visionary", "He knows what he's doing", "he has a plan." Well he damn well better. Twitter is ad revenue fed and Musk has spooked his advertisers. He may well have some grand plan to monetize the shit out of Twitter and I'm eager as anyone to see what it is. But right now, it's not looking good. |
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11-20-2022, 09:14 PM | #99 | |
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I’ll check this thread again next year. Peace out guys, keep saying you know more than big investors. I sure don’t so I’ll wait and chat with you guys next year. |
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11-20-2022, 09:15 PM | #100 | |
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11-20-2022, 09:47 PM | #101 | ||
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11-20-2022, 09:52 PM | #102 | |
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11-20-2022, 09:55 PM | #103 | |||
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Sooooo…… ….are we ignoring all of the misinformation spread by the left [much of it on Twitter]?!?…..because there's plenty of that. It is undeniable that Twitter's censorship algorithm affected conservatives significantly while favoring left leaning politics. |
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11-20-2022, 10:02 PM | #104 | ||||
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11-20-2022, 10:08 PM | #105 | |||||
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I get that. I'm just saying Musk fell into favor because his position is, or seems to be, "Regardless of your political leanings, you all deserve a seat at the metaphorical Twitter table."…. …and that wasn't really the case prior to his acquisition. Many people don't care for Musk's eccentric personality, but many people respect him for trying to make the political playing field more neutral. |
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11-20-2022, 10:24 PM | #106 | |
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11-20-2022, 10:28 PM | #107 |
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Based on your comments, I think you are letting your own political views influence what you think you observe.
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11-20-2022, 10:32 PM | #108 | |
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I don't see any evidence that Elon has any plan that would justify the amount he paid. IMO, this is an ego move and nothing else. It will be very costly for him and Tesla. |
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11-20-2022, 10:39 PM | #109 | |
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Maybe it will be a giant loss. Maybe it won’t. I have no idea. I don’t think you have a basis to know either. Deal just closed. See how it plays out.
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11-20-2022, 10:49 PM | #110 | |
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https://mergersandinquisitions.com/twitter-buyout/ Last edited by chris719; 11-20-2022 at 10:57 PM.. |
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