@rodhilton@mastodon.social (source)
It’s not worth $20b. That was his own estimation, and remember step 2.
Fidelity estimates its worth to be much lower.
this post was submitted on 31 Oct 2023
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Fidelity estimates their specific investment in the company has a value lower than what it would be if the company was 20b.
A convoluted way of saying they don't think it's worth 20b
I read somewhere that it could be closer to 8b
A $44 billion dollar website? Why would someone spend that much on a $30 billion dollar website? That's way too much for an $11 billion dollar website?! By the end of this, he's gonna be so sad he spent that much on a -$12 website.
When is that rotten site going to fail? I want to see the day.
Rome didn't fall in a day. Or a year.
Takes a lot longer than most people think.
If nothing else, this shows just how well architected and built the original Twitter infrastructure was. Being able to withstand the chaos monkey that is Musk should be its own SLA tier.
You know, that’s quite a beautiful way of thinking about it.
It basically already has.
The best thing that can happen to Musk is zero growth, and slight decline until it's long, uneventful death. Musk will get bored, sell up, and we won't need to hear from him until he spunks cash on his next stupid purchase.
I'm halfway there! Anybody got $44 billion?
“build”
Yes, I agree. "make" would have been a better choice.
This is the second version of this joke about Elon musk. The first was:
How do you make a small fortune in space travel? You start with a large one.
Ya know how to make a small fortune from farming. Start with a big fortune
Farmers love to complain how there's no money in farming as they pull up in their $100k truck, to their 10 million dollars worth of land, with a million dollar home on it, surrounded by hundreds of thousands of dollars worth of recreational vehicles & a boat, with $10,000 in cash in their pocket.
I can tell you don't actually know any farmers.
- Most farmers have much more work-oriented trucks because they actually use the truck part, especially hauling
- The land value is meaningless except for tax purposes or when selling
- Most farm houses are probably worth 50-100k without the acreage, if not less (this will vary by region, but locally to me they're very small, modest homes
- Most farmers don't have recreational vehicles nor boats. Although I do know quite a few farmers with ATVs those are again primarily used for work, and fun is an afterthought with those
- That 10,000 cash is only after harvest and before buying next year's seeds
The real joke is how to get started farming, you're either born into it or you marry into it because there's no way to turn a profit if you don't inherit the land
I used to sell recreational vehicles to farmers and the experience was almost universally what I described above. I know that not all farmers have money, but they have a shit load of actual value, and the ones I dealt with also had a lot of money. The small family farm is almost extinct. Like you said, most of them now were born into millions of dollars worth of assets and live pretty comfortable lives. Granted, my experience is only limited to a single region in a single state, so it might be completely different in other places.
Ah so it's like racing
I wish I knew how to read. My first thought was "What the hell does this have to do with Microbiology?"
This is assuming the goal wasn't to casually kill Twitter by a thousand cuts. I would think, that if I was Mohammed bin Salman, that I wouldn't want $22B of my hard earned oil money wasted on bad management. Surely Elon will have to pony up the money for the ROI for MBS at some point if MBS' only stake in Twitter was the money.
of my hard earned
Fucking LOL. None of that was hard-earned.
Well, I mean... just because he's an incredibly rich, morally bankrupt prince of a backwards feudal kingdom doesn't mean he's smart. He might be, but there's nothing that I've seen about him to date that would give me that impression. I mean, after all, he did give Jared fucking Kushner $2 billion. Can't see that ever being worth it.