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[-] Kraven_the_Hunter@lemmy.dbzer0.com 235 points 3 years ago

Cheer up Elon - it wasn't worth $44B when you bought it, so it's lost significantly less value than you think!

[-] Endorkend@kbin.social 67 points 3 years ago

Most valuations by actual economists and the like was in the 20-25B range. So it still lost a 5x in value, which is only marginally worse than 10x.

Meanwhile, you have the Elon fanboys still pretending Twitter is doing better than it ever has.

[-] paper_clip@kbin.social 58 points 3 years ago

Meanwhile, you have the Elon fanboys still pretending Twitter is doing better than it ever has.
reply

Well, it is, if you're a Nazi.

[-] CMLVI@kbin.social 19 points 3 years ago

Same person

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[-] Clown_Tempura@lemmy.world 225 points 3 years ago

It astounds and amazes me that there was a time Elon could have feasibly been considered a smart, level-headed entrepreneur. The whole submarine thing with the trapped kids really was the beginning of his unraveling. I for one thank Elon Musk for proving once and for all to even the most shameless corpo-apologists that having a ton of money doesn't magically make you smart or cool. The dude's an idiot, and I love watching him self-destruct.

[-] Son_of_dad@lemmy.world 113 points 3 years ago

At one point they even had him cameo in iron man, and had him name dropped on star trek as a pioneer of human discovery. People used to jerk off to this dude's PR image like he was a real life Tony Stark.

[-] phillaholic@lemm.ee 36 points 3 years ago

If he stayed off Twitter he'd have a pretty impressive CV. Mainstream electric cars, actually usable Satellite Internet, Major Solar Panels etc. Even weird shit like Hyperloop would just be random neat things.

[-] sushibowl@feddit.nl 57 points 3 years ago

Same with JK Rowling, Kanye West, Notch, etc. It's literally so fucking easy for people like this to remain loved by everyone. Just keep your fucking mouth shut. Give nice polite interviews about your job, stay out of politics, let a boring publicity agent manage your social media for you, and enjoy your billions of dollars in peace.

Why is it so hard?

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[-] Hiccup@lemmy.dbzer0.com 27 points 3 years ago

They put him on Rick and Morty in the most cringe inducing fashions and it was like watching a cartoon suck off a guy.

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[-] Uranium3006@kbin.social 25 points 3 years ago

He's mentioned in star trek discovery as if he took us to mars. Those lines aged so poorly

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When he called the submarine expert a pedo was when I started to go, "Is this guy being for real?"

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[-] collegefurtrader@discuss.tchncs.de 172 points 3 years ago* (last edited 3 years ago)

He overpaid for a piece of shit and ran it into the ground.

Everyone with a used BMW knows the feeling.

[-] hypnotoad__@lemmy.world 56 points 3 years ago

Please stop attacking my character based on terrible purchase decisions

What a beautiful car

Until I owned it

[-] Nerdulous@lemm.ee 25 points 3 years ago

I'll never forget my Sweet 3 series... Because I'm still paying for it's repairs years later.

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[-] MaxHardwood@lemmy.ca 85 points 3 years ago

I could be remembering wrong but Twitter was only worth $15B at best, and Elon bought it for $44B because he's that smart.

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[-] bluestribute@lemmy.world 72 points 3 years ago

Didn't Elon have the opportunity to end world hunger for 8 billion dollars a couple years ago?

[-] GenderNeutralBro@lemmy.sdf.org 76 points 3 years ago* (last edited 3 years ago)

Almost. He said that if anyone could present a plan on how to end world hunger for $6B, he'd sell Tesla stock to pay for it.

The U.N. publicly presented a plan on how they'd use that $6B, but it fell way short of that goal. Which isn't surprising, since they never claimed they could solve world hunger permanently for $6B. Musk's challenge was rhetorical because the bar was impossibly high. He was really just trying to make the point that he does not have the money to truly end world hunger.

The U.N.'s plan for that $6B would "feed 42 million people for one year, and avert the risk of famine". That's nothing to sneeze at, obviously, but it's not a permanent solution.

Friendly reminder, for context, that the U.S. military budget is $842B. For one year.

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[-] Tilgare@lemmy.world 61 points 3 years ago

For that to be true, it would have needed to be worth $44B in the first place, which it absolutely was not. But there is no doubt that his mismanagement has tanked the value of the investment. He's a narcissist so never see it that way, but the whole rest of the world knows that.

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[-] Iwasondigg@lemmy.one 59 points 3 years ago

South African Magician Makes $40B Disappear!

[-] Cabrio@lemmy.world 56 points 3 years ago
[-] Trashcan@lemmy.world 17 points 3 years ago

This is the quote:

"I don't see any scenario where they're responsible for less than 10% of the value destruction, so around $4 billion."

In my head, he is comparing the minimum size of ADLs value reduction to be 10% or 4 billion. 10% of 44 billion is 4,4 billion. In this comment he is not saying anything about the current value except that 10% of 44 is around 4.

How else can you read it?

[-] RekcuffuckeR@feddit.de 18 points 3 years ago

He's saying that 10% of the value reduction is 4 billion so the total value reduction is 40 billion (of the 44 billion he bought it for).

But you're right, he probably meant it like you read it and just failed to express himself properly.

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[-] CharlesDarwin@lemmy.world 54 points 3 years ago

Imagine having so much wealth that he can walk away from his utter failure at Xitter and remain completely unaffected. For him, this is like some side-hustle vanity project a bored trophy wife runs.

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[-] cabron_offsets@lemmy.world 48 points 3 years ago

Can this fuck buy russia and fox “news”?

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[-] dbilitated@aussie.zone 46 points 3 years ago

let that sink in.

[-] fosforus@sopuli.xyz 45 points 3 years ago

$4B seems also a tad too high.

[-] Diplomjodler@feddit.de 25 points 3 years ago

Best I can do is tree fiddy.

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[-] scarabic@lemmy.world 38 points 3 years ago

No tears shed here. The people who built Twitter got a nice payout when they absolutely robbed Elon Musk in that deal. Anyone who chose to stay on the Elon train after his first weeks at the helm gets no sympathy from me.

[-] justastranger@sh.itjust.works 22 points 3 years ago

Anyone who chose to stay on the Elon train after his first weeks at the helm gets no sympathy from me.

Except for the green card holders whose residency in the US was literally held hostage by Elon.

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[-] mog77a@lemmy.world 18 points 3 years ago

Facts.

Elon tried so hard to back down from that deal. I'm not sure why it took actually signing that deal to realize he had been hosed.

If I was an executive at twitter, I would have absolutely done everything possible to get Elon to pay that $44 billion.

[-] scarabic@lemmy.world 28 points 3 years ago* (last edited 3 years ago)

Elon: Fuck you Twitter!

Twitter: Fuck yourself, Elon!

Elon: Oh yeah? Maybe I’ll just BUY you.

Twitter: Ha! No you can’t….

Elon: No? Watch this!

Twitter: Gotcha, dipshit.

Elon: What? Wait no!

Twitter: Ahem… judge?

Judge: They got you, dipshit.

Elon: (unbans Trump) Nyah-Nyah!

Twitter: Ahahahaha (all the way to the bank)

Elon: Everyone see this? This is the ADL’s fault!

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[-] Saneless@lemmy.world 34 points 3 years ago

I wouldn't normally trust his math but he might have gotten this one right

[-] Coreidan@lemmy.world 30 points 3 years ago

Listen all y’all it’s a SABOTAGE

[-] CileTheSane@lemmy.ca 29 points 3 years ago

That might be giving Musk too much credit. Never attribute to malice what can be explained by incompetence.

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[-] dangblingus@lemmy.world 30 points 3 years ago

He's just that good at business. Truly an unstoppable force in the world of commerce. Capitalism really is the best system. No problems.

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[-] EmperorHenry@discuss.tchncs.de 30 points 3 years ago

Nobody ever said you had to be smart to be a billionaire... or a good person.

[-] Diplomjodler@feddit.de 31 points 3 years ago

You strictly cannot become a billionaire and be a good person at the same time.

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[-] AdolfSchmitler@lemmy.world 30 points 3 years ago

I really hope the original owners re-buy Twitter for a fraction of what they sold it for lol

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[-] ganksy@lemmy.world 26 points 3 years ago

I'm sure Putin and the Saudis comped him accordingly

[-] c0mbatbag3l@lemmy.world 23 points 3 years ago

This serves him somehow, not sure how but he's used social media and PR to make money through market manipulation before.

I doubt his mental math is accurate on the value loss anyways.

[-] whats_a_refoogee@sh.itjust.works 18 points 3 years ago

Or he's just a narcissist that can't run a company if he's not held on a leash by people who actually know what they're doing.

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[-] moitoi@feddit.de 21 points 3 years ago

According to real math, Elon always overestimates the value.

[-] darq@kbin.social 19 points 3 years ago

When you have a net worth measured in the billions of dollars, it's genuinely impressive to be able to lose money. With that kind of sum behind your name, you could just do nothing and out-earn most people on the planet with just interest alone. To actually be able to lose money? Now that takes work!

[-] fidodo@lemm.ee 17 points 3 years ago

And he's blaming the anti defamation league...

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this post was submitted on 07 Sep 2023
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