As Twitter's Revenue Collapses by 84%, Tesla Bulls Fear Elon Musk Will Liquidate
finance.yahoo.com
finance.yahoo.com
Most people don't want another subscription per month just to use social media.
I never bought his "I did it for the people" narrative his followers
He got a 96% haircut shortly after buying X. Now whether this was organized/planned I don't know (if it was then it needs to be addressed/discovered in court).
Tesla is struggling and his repeated disregard for securities law (probably thinking the MIC/SpaceX/Starlink will protect him from prison) is catching up with him.
With X liquidiation and Tesla securities fraud looming/flailing revenues around the corner, it could impact his tenure at his MIC ventures.
His support for Trump is also disingenuous and he doesn't really care for America he just wants a get out of jail insurance and taxpayer bailouts for not if but when Tesla comes under fire.
The pay-to-influence scheme with X Premium also has been nothing but disappointing in terms of revenues. Ad revenues are the life and blood of social media platforms, nothing else works.
Whoever buys X will be performing arbitrage essentially: The company was worth $50 billion roughly 3 years ago. It's worth somewhere around $4 or $3 billion realistically right now. If they can clean up the platform and lure back the advertisers which is very doable and re-IPO it would be a massive win.