What a fucking stupid move. And that’s saying something at this point.
Mmmm yes. Can’t wait to X about this!
That’s cool and edgy
xXxEloNxXx
vYv_El0n_vYv
Guys, I’m starting to think this Elon guy isn’t as smart as he claims…
An insight that’s coming a couple of years too late though.
It’s a joke.
I should’ve added a smiley face myself, sorry. I thought you were joking.
No worries. I’m genuinely relieved you were joking too!!
He’s like any other punk born into millions.
Depends.
If he thinks Twitter is irreperably dying, this may be a way, in which he can get out of repaying the loans he used to (partially) fund the buyout of twitter.
How does that get him out of the loans?
depends how the loans worked.
I was assuming his majority shares of X (ex Twitter) collateral.
And that that he could just go “yeah, go on, collect on your collateral, I don’t mind”, because it’s not worth anything anymore.But admittedly I have no Idea how the contracts were drawn up, if this is possible and if his other money would be available to collect on.
The lenders lawyer arrives at the Twitter office:
Lawyer: This is Twitter, is it?
Musk: (with a fake mustache) No, it’s X.
The bonesaw Saudi lenders :)
That makes me think of the theory about Saudi Arabia and probably other countries have had it in for Twitter since Arab Spring.
So this is just Elon doing as instructed: “Make Twitter disappear, but make it look like an accident”
Absolutely
At some point some creditor should be desperate enough to do a margin call, since the loan collateral is next to worthless.
If you’re thinking this an “artist formerly known as Prince” sort of thing where Prince got out of a contract, I’m sure all the debt holders have the proper legal verbiage to have agreements remain valid in the event of a name change.
No rich person is actually smart, they are all addicted to money and can’t get help over it. But their moves in the business world are all calculated, this guy is doing exactly what he wants to do and their goal is to make money not to lose them.
Smart people are more risk adverse. It seems like the only way to become mega wealthy is to haphazardly gamble. We only hear about the successes due to survivorship bias.
They really are just lucky bastards.
They are lucky because the average person won’t even bother checking out on wikipedia how they become so rich
Lucky, or in Elmo’s case, born with a platinum spoon in his mouth thanks to daddy’s apartheid emerald mines.
That’s a very big part of it.
When fucknugget wanted to start a company he had plenty of credit either on his own, with his name, or both. If he blew 50k in an attempt he could try again next week.
If I blew 50k I’d be homeless.
It’s way easier to high stakes gamble when you won’t notice you lost.
this guy is doing exactly what he wants to do and their goal is to make money not to lose them.
How does this make him money exactly? lol
He is literally just killing off his website.
My guess: the same way the now called Meta benefited from stalling facebook and moving people to their other platforms like instagram. These marketers perceive everything in market terms, twitter is old and they need to release a brand new product to hook people up
I’m waiting for the next step when he tries to add features to make X whatever he envisions. Oh, those devs I fired. Hey, why can’t we hire anyone? No one wants to work.
No rich person is actually smart
Counterpoint: Warren Buffet.
Money are an addiction just like smoke, sex or drugs. If you can’t cope with being addicted to gold at the end of the day you are dumber than some kids
Lmao I hope in a couple of years someone just takes the twitter branding and rebuilds it.
Not that I am a fan of twitter, may that plattform burn in hell, but just to shove it into Musks face.
If the domain lapses, and I doubt it will, someone should make Twitter.com a Mastodon instance.
If a domain squatter gets it… my money is on Twitter.com becoming either a porn site, or a casino.
As ancient internet tradition demands.
No 😭😭😭
Brilliant!
Also: American History X
I am pronouncing it “ex” as in ex-wife.
I thought that was already the name of Musk’s child?!?
'Cos it marks the spot where he buried all his treasure, amirite?
I don’t know about ALL his treasure, but he definitely buried 35 billion dollars in there. Never to be seen again.
Ffs
Yes change the name and iconic logo of a huge corporation, that will go over great.
If he hadn’t demonstrated his incompetence earlier I’d think it was intentional.
I still think there’s a bit of intent to destroy the company but it’s kinda hard to tell.
There’s a woman over on Mastodon making the argument that he’s trying to destroy it so it can’t be used to organize left-leaning political action (fundraising, activism, issue messaging, etc) any longer. She makes a compelling argument.
I’ve been saying the same thing in multiple Lemmy posts and on Mastodon. Twitter and Reddit were both used by progressives to organize.
The issue with that argument is… Why? He is a business man, activism generally doesn’t effect him, tesla cars are generally liked by left leaning middle class, why would he spend so much money to destroy something?
Perhaps capital wasn’t scared of tesla-buyers.
One factor is his obsession with crypto and Blockchain shit. Left-wing activism generally stands against that stuff because of the environmental impact. Additionally, right-wing political movements recently have been lowering safety standards in business. Bad for the worker, but great for the bottom line.
His ex-wife did ask him to buy and kill Twitter:
“Can you buy Twitter and then delete it, please!? xx” Riley allegedly texted Musk on March 24. “America is going INSANE.”
🤷
Is Tallulah Riley right wing? Wow.
where’s the link
Sure, make me go look it up. @OutOnTheMoors@beige.party or @CrazyMyra@mastodon.social.
I don’t buy that. He tried to cancel the purchase. He’s also losing money, and so it’s definitely not a 3D chess.
Not only that, it would have been easier and cheaper to just shut the whole thing down after taking ownership. His very public (mainly by his own tweeting) stewardship of Twitter is damaging to his reputation, and the reputation of his other businesses. The reality is, he just is that dumb.
If he’d just shut it down, he probably would have been personally liable for Twitter’s debt, because he didn’t even try.
His net worth has only gone up since he bought it, iirc. Tesla will continue to print money at least for a little while until other automakers catch up on EVs. SpaceX doesn’t seem to have any viable competitors, and both sides of the aisle agree on privatizing space, so that’s a big growth industry. This is the unfortunate fact of capitalism in general and late-stage capitalism in particular.
His net worth has only gone up since he bought it, iirc
It absolutely didn’t. His net worth dropped over 50% in the months following the purchase. It’s back up above $200b at this point according to Forbes, but he’s still down from his pre-purchase state.
Narcissism
Didn’t Twitter almost take him to court if he didn’t follow through with the purchase? I think he got caught in his over investment in Twitter last year, and rather than go through a trial with discovery (I think he NEEDED to follow through to avoid this specifically), he decided to go through with the purchase. I wonder what the hell they would have found during a trial discovery that made him sink $44B.
But what he’s doing now? I don’t think it’s related to that. I think it might be to help manipulate stocks, as we have seen him do several months back. Maybe he thinks that destroying left-leaning political action saves him in taxes? He destroyed public transportation in California just so people would theoretically purchase more Tesla cars. Nothing is beyond being trampled by Musk if he thinks he can benefit by stumbling over the other side of the corpse.
Yeah, he was way too cavalier with the documents he signed while negotiation with Twitter. It would have cost him $1Billion to back out. But that is a bargain compared to what he had to do to come up with the $44B he paid for Twitter.
Didn’t Twitter almost take him to court if he didn’t follow through with the purchase?
On “behalf” of Twitter. What a fucking clown.
I mean it can be all of the above. Musk isn’t very coherent.
He’s the consummate failson. Rich enough that he’ll never actually experience any tangible negativity from his various ventures, if he has a skill, it’s in self-publicity and (historically) throwing money at ventures that are already on an upward trajectory.
But I feel that all the cocaine and being surrounded by Yes Men have led to him tipping over the edge.
I’d believe it if I hadn’t already heard of Musk being the type to fire workers in his line of sight at pure random simply to fire someone. It apparently got so bad that aids would plan the route he would take to the meetings around having as few victims as possible out in the open.
It would be a smart move for anyone, and he is succeeding to a good extent (they’ll just go elsewhere?), but I think that’s just a happy accident of his. I feel like he’s really just using it as a chew toy so he can feel all big and important with the headlines. If he were being journalistically gray rocked, I wonder what he’d do.
What the fuck.
I unironically believe this conspiracy theory
MAX
I saw this article posted in another thread and it seems to explain a lot. Not sure how close it is to reality, but it looks like nostalgia is at least a partial reason for this change.
Yep. Fucking nostalgia.
It makes a lot of sense!
To err is human, repeat the mistake is foolish
Thx for sharing the article!
Well I guess twitter really is dead now.
Wasn’t X the first name of paypal or something like that? He already owned x.com for a long time, i guess wanted to make use of that
Kinda.
Thiel backstabbed Musk before X became a thing, because he’s a fucking weasel and Musk is a moron government contractor. It’s also really funny he took the company while Musk was on honeymoon.
Paypal’s board brought Thiel in and ousted Musk. Thiel didn’t do that on his own, he was begged to come back.
@chiz X is so easy to search in internet. So many results; it gets never boring! Very unique name and brand.
Spez: Write it down, write it down! Let’s rename Reddit to Z! Employee: Why Z? Spez: What do you mean why? Does X make any sense to you too? Employee: All right, I should have never questioned you.
It’s like B, C, D, V, R in programming… If Reddit took X++ and someone else took X#, the unsearchable name trifecta would be complete!
.net is even worse.
Crying in former COM programming hell
What’s V? I don’t see it on the list. X++ is already taken, though… but I see a huge potential in Y*.
I don’t remember exactly what it is, all i remember is there’s a unix-like operating system written in it
but Y
Let them B
K, guess we’ll C
Z, because the “Spe” was just an afterthought this whole time…
pardon me… I have been laughing so hard reading this thread, it was the best I could come up with! 😂
Who wants to tell him about Xorg and their product X11?
You mean the outdated piece of software that everyone (on Linux) used, which is slowly being replaced by multiple different implementations all based on the same standard? Seems to me like an apt (no pun intended) metaphor.
My KDE on Pop OS still won’t boot to desktop with Wayland :(
Are you on NVIDIA?
Unfortunately yes :(
He will release X18
This is like watching a train wreck in slow motion.
It hasn’t been too slow 🍿
Shh, shh, let it happen, let it happen. Meanwhile, want some popcorn? I made like 3 tubs worth of it
I’ll take the popcorn but I’d rather watch another show. This one is getting so predictable.
I’ll take some…😂
🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿🍿✖️
That’s like, 3 bathtubs worth.
Was Twitter ever really a left leaning platform in the first place? It pretty much always felt like it was filled with Russian bots and maga shit.
So I guess good job Musk for burning down a shit website? Lol
As a side note, Mastodon is legitimately fantastic. The community there is genuinely nice.
It was left leaning until about 2014. Then it slowly crept farther and farther right wing. Slowly bleeding users who didn’t want to deal with the fascist jerks. Slowly converting fence sitters into fascist jerks by normalizing fascism by pretending it was just asking questions, just making edgy jokes, you know the drill. Next, 2016 came. That for me was when the bottom fell out of twitter. The Russian twitter bots were everywhere. And it took twitter way too long to deal with it. I think by that point, the platform was ruined. It was never going to grow meaningfully by attracting new people. It was just going to slowly decay as people looked for their friends and favorite creators on Reddit, Discord, Youtube, or wherever else they went. But that decay would have been slow until Elon tanked it. His efforts have chased off users in droves
Most new platforms are left leaning from the start, because left leaning people are more likely to try out new platforms. Once platforms get mainstream they will be picked up by right leaning media.
Sounds about right. oh well.
