Perhaps Twitter will be the golden example of how to run a business like SpaceX and Tesla became after many years of derision?
This Twitter saga is more like his PayPal days when he sent the company into a nosedive with bad management.
https://www.wsj.com/articles/twitter-offers-new-equity-grant...
The company has lost over half its value in just 5 months.
Even as bad as the stock market was last year, very few companies lost 50%+ of their value.
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There's a lot of other decisions that are very strange coming out of Tesla, such as the removal of RADAR and Ultrasonic Sensors. Does Elon Musk really believe he can compete against next-generation companies when he's removing sensors from his cars?
Radar is back by the way, with an increased resolution that makes it more useful in highways where overhead signs false positive as a collision risk on the old sensor.
The ultrasonic sensors IMO were basically worthless. Initial analysis of the new v4 FSD hardware indicates they are adding more cameras - including bumper cameras to cover blind spots that previously would have relied on ultrasonics.
It doesn’t seem like HW4 can be retrofit like HW3 was, so it will be very interesting how that all plays out!
https://www.teslarati.com/tesla-hardware-4-hd-radar-first-lo...
https://mobile.twitter.com/greentheonly/status/1625905220432...
There is a huge difference between 55% drop that Mr Musk has experienced with Twitter, and the 30% drop you're talking about.
EDIT: > from March to June of last year
That seems like a weird comparison? An apples-to-apples benchmark would be the Nasdaq 100 from November last year (when Musk finished buying Twitter) to March this year.
Note that Twitter has a $13 Billion loan with $1.3 Billion/year in interest payments in a rising interest rate economy while VC banks like SIVB are failing. That means to buy Twitter at $20B valuation, the VC firm would need to spend $33 Billion. ($20 B valuation + $13 Billion loan)
I honestly don't see this company having enough runway to even reach the $1.3 Billion/year interest payment, let alone the rest of it's liabilities or costs.
Hardly golden examples of how to run business.