Take a somewhat successful company, pay way more than it's worth and then run it into the ground through kack-handed incompetence fueled by unlimited arrogance. Only a true business genius could do that.
this post was submitted on 21 Aug 2023
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Enough Musk Spam
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There's idiots at my office that think this is all still some part of an elaborate plan of his.
At best, I think it could be an actual plan of his, he was pissed when he was forced to buy Twitter after backing out, real pissed.
Maybe now he's intentionally destroying it as a way to destroy the accomplishments of those he was forced to buy it from, but he's doing it in a way that won't land him in legal trouble for intentionally destroying it.
I would believe it if it turned out to be true, but at the same time, he could simply be an extremely incompetent, super ultra mega wealthy idiot. I dunno.
Could he get in legal trouble for intentionally destroying it? It's no longer publicly traded but a private company owned by Musk. I think he's within his rights to just lay everyone off and shut it down.
It wasn't entirely bought with his cash.
https://www.reuters.com/markets/us/how-will-elon-musk-pay-twitter-2022-10-07
I think that might be giving him too much credit, bit who knows. I don't think he'd willingly throw away that much money when he's been trying to build his brand around X for decades.
What do they think he would gain out of it?
No idea, they think he's some king of genius meme lord. I take every opportunity to make fun of them for it when they start talk about him.
Could just be a shit plan
Another lemmer commented on a similar post and got me thinking... Who paid for Twitter, really? It was not all Musk. I have to wonder if he got marching orders from those bankrolling him to run it into the ground. Also what got deleted? Arab Spring.
Edited for link and more better words
Out of 46.5 billion total cost, 27 billion was out of Musk's pocket. 13 billion were bank loans, most as a leveraged buyout so technically Twitter owes the banks, but the banks do not own shares. 5.2 billion, only a little more than 10% came from other sources. The biggest is 1.89 billion from the Saudi Prince, but those are just his previously owned shares that he decided to keep. It wasn't a new investment. He obviously has influence (same as he did before the acquisition) but I doubt he's giving marching orders with less than 5% stake. https://www.ctvnews.ca/business/who-is-financing-elon-musk-s-us-44-billion-deal-to-buy-twitter-1.6100579?
You’re thinking like a shareholder.
A very rich friend helped out a very rich man, who now owes him a favor…
Stripping for assets and declaring bankruptcy incoming
They've already sold all their assets.
Not many assets to strip.
It's like someone who feels like there are some communication issues with their spouse go to marriage counseling and it somehow ends up with their house blown up. There was some struggle, but somehow the help turned it into a mess of an entirely different scale.
Talking a traffic ticket down to Murder 1
He must be incredibly shocked that nothing else he’s tried has caused it’s complete collapse yet. I guess just deleting it is all that is left.
Anything to distract from the fact that the $13bn debt the purchase entailed is what actually killed the business.
"Glitch"
Aka saving on server costs..
Good. If you're still on Twitter, you're part of the problem.
What in the fuck is a technologist? Is that what journalists are calling themselves now because they realized how embarrassing the journalist title has become?
as if destruction wasn't his entire goal.. assuming he did this to make money is silly..
At this point I'm thinking destroying twitter is just a scheme to write off losses so he can sell more TLSA stock and avoid taxes.
i think it's more about fun.. there weren't many other toys he could buy and have this much fun with.. and he's just a nasty kid who likes to destroy other people's nice things..