Didn’t seem to matter for Twitter, sadly
https://www.cnn.com/2024/10/02/business/elon-musk-twitter-x-...
They’re probably just recouping losses from the last few days of market nosedive
Fair point re: selling the debt.
It’s only worth what a buyer is willing to pay for it.
The company is now private and has no stock price. It’s not for sale.
It mostly has the same user base today so the value to an interested buyer is probably not much different to what it was before the sale.
"Fidelity discloses what it believes is the value of its shares of X"
fidelity has been shitting all over elon companies forever, and losing tons of money in the process:
https://seekingalpha.com/article/4200471-institutional-inves...
Mostly b cause the goalposts got moved and they don't care anymore about a bunch of things. But yes, it bled users to other platforms but seem still stable-ish.
Granted the reasons why are different. Musk has a cult of personality around him that turns anything he touches into gold.
But laying off tons of talented people from Twitter didn’t kill it… that’s just what it is.
It's a ton less interesting for me. A fraction of the people I follow post any longer and there's even less interaction. Maybe something I check into once or twice a week these days.
A lot of people were probably staying on and regularly using Twitter out of momentum. And when Musk came along, their interactions probably decreased drastically because so many people dropped out, or they just themselves decided this was a good forcing function to largely leave. None of the alternatives were especially good. So the whole format is a shadow of its former self--at least in the tech space (and I avoid the politics).
Jack Dorsey apologized for over hiring and accepted responsibility. Before the sale to Elon Musk, he had doubled the number of employees since 2017.
Employees were posting on TikTok about their typical work day. Most of them were doing nothing. Dead weight.