this post was submitted on 23 Jul 2023
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Twitter was doing fine financially before Musk bought it. He paid more than twice what it was worth and he used loans to do it, that's what this is all about.
Twitter has never really been a financially viable company. They were losing money year after year. That’s not what I would call financially stable. There’s a reason they did everything they could to force Musk to buy it when he tried to back out.
Yeah there is a reason, the reason is because his dumbass offered more than twice what the company was worth.
Lots of tech companies operate at slightly under profitability. They were doing fine.
No it wasn't 😂
He just lit a sinking ship on fire, yes it's worse but it was bad before too.
Lmao, I mean, it indisputably was. Objective facts exist. It was a publicly traded company so there is plenty of professional financial analysis available on the subject which you could easily access if you wanted to. Some of it even written at a level you could potentially understand.
Or just continue on wallowing in your own ignorance, whatever.
Could you please link one such financial analysis? Preferably one that's easy to absorb for the layman?
I'm not op but am very interested to know more 🙂
Here's a pretty cool site that I think illustrates the original point that they were in decent financial shape
https://www.readyratios.com/sec/TWTR_twitter-inc
It's profitability varied from quarter to quarter, but the last few quarters of 2021 and 2022 or negative. Before that, they did have some very successful quarters in 2018 and 2019.
https://www.statista.com/statistics/299119/twitter-net-income-quarterly/