this post was submitted on 19 Sep 2023
523 points (83.6% liked)
Technology
59985 readers
2205 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Oh thank God, then we can all finally move on and stop talking about it.
I don't hate what Twitter used to be. I never engaged with it much myself, but it was a fantastic tool for progressive organizations to network and mobilize, and the loss of that will genuinely hurt us all.
But at this point, that tool is already on life support. Better for it to die outright so that people find a new way to do those things x rather than this endless half life it's now trapped in.
I suspect the intention was to kill it because of how it aided people in organizing. Musk like many techbros does not want people organizing because then they might he able to divert the money he needs to build inefficient tunnels under the ground that could be used to feed and educate the masses about why Teslas are poorly assembled cars.
Sorry, but I really hate this argument. It buys into the bullshit mythology that Musk is some kind of evil genius and not just an egotistical moron.
The fact is that Elon went to court, at great expense, to try to get out of buying Twitter. It was a stupid mistake, and one that he was desparately trying to undo, right up until the last moment. To claim that this was part of his genius plan would be like saying that a good first step in planning a murder is to call the cops and tell them you're planning a murder.
He got into his mess because he's a sad divorced loser whose trans daughter won't speak to him anymore, and rather than do any soul searching about it he blamed Twitter for turning her into a "communist". He got sucked into the manosphere bullshit about how all the "woke" Silicon Valley companies are "censoring" people, tried to strongarm Twitter into changing their policies on hate speech by threatening to buy out the company if they didn't accede, tried to make the threat credible by tendering an actual offer that was, incredibly stupidly, far above what the company was worth, and then went all surprised Pikachu face when the shareholders of a company that has literally never been profitable said "That sounds great, we'll take it." Now he's just doing the best he can with a bad situation, after every legal move he could come up with to escape that situation failed ( did you know he's even suing the lawyers who won the case for Twitter against him?).
It's also important to understand that Elon took Twitter private. That means its profits (there aren't any, there never have been) flow directly into his pocket, and it's deficits flow directly out of his pocket. This isn't like with Tesla where he's a CEO of a publicly traded company, and get can get paid big bucks even when they lose money.
If Twitter loses money, Elon loses money. And in order to raise the capital he needed to buy it, he had to take out significant loans. In order to pay the interest on those loans he's been liquidating large amounts of his Tesla stock (which forms the bulk of his compensation as Tesla CEO), which is tanking the Tesla stock price, which further reduces his capital.
In all this debacle has lost Elon somewhere in the region of $200 billion dollars in net worth. There is absolutely no universe in which he is personally sacrificing that kind of capital just to kill a social media platform, and even if you still - against all reason - believe this was an evil scheme to kill Twitter, it's painfully obvious that they (whoever "they" are) could have done it for a LOT less than $200 billion.
All the changes he's made to Twitter since buying it are driven by two basic motivations; because he's a bigot who loves the adoration of other bigots, and because he genuinely thinks these are good ideas. Twitter is called X now because Musk has been trying to make X.com a thing for his entire adult life, to the point where its exactly what got him pushed out of PayPal.
There's no grand plan here. He really is just that stupid.
I don't believe he is that smart but I think the KSA intelligence community is and I believe the suggestion was made to destroy it after he was required to purchase twitter.
Point 1: Why would he agree to that, at such huge personal cost? He's paying the Saudis almost a billion a year for the loans they gave him. He's getting the world's shittiest deal here. Unless they have some kind of truly epic blackmail on him (the kind that billions upon billions of dollars couldn't successfully erase) there's literally no possible motivation for that. If the Saudis were bankrolling the whole operation and he was just the point man your theory would make sense, but as it is he's the money and the mook. He's getting nothing here.
Point 2: If Musk was knowingly destroying Twitter, why would he attach the X branding to it? X has been Musk's personal baby for decades. He lost PayPal over it. He genuinely believes it's some kind of brilliant, genius idea, his "everything app" for finance that will revolutionize the world. If he was trying to kill Twitter, he would kill it as Twitter. If you want to burn your business down for the insurance money, you don't lock your kids inside first (metaphorical kids, the kind you genuinely love, not his actual kids who hate him). If he destroys Twitter as X then he destroys X, and there's no possible benefit to that.