this post was submitted on 30 Sep 2024
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Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price (techcrunch.com)
submitted 1 month ago by GeneralInterest@lemmy.world to c/technology@lemmy.world
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"Fidelity is currently valuing X at about $9.4 billion"

I found this funny.

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[–] eestileib@sh.itjust.works 141 points 1 month ago (12 children)

Musk did not buy this as an investment. He bought it to flip elections and manipulate public opinion.

Tesla is writing him a check that will cover the entire purchase price, and Saudi Arabia and Russia will pay the operating costs.

Active users are what matters; if they lost 75% of their users then I'm paying attention.

[–] deathbird@mander.xyz 22 points 1 month ago

I think you're giving the guy too much credit. Sometimes things are as they seen. He just didn't like the moderation scheme on Twitter, made a gesture buying it, fumbled a little bit and overbid, then after having been forced to acquire it tried to turn it into something closer to what he wanted it to be.

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