Musk Values Twitter at $24 Billion Less Than He Paid | Drudge Retort

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Monday, March 27, 2023

Musk Values Twitter at $24 Billion Less Than He Paid

Elon Musk said Twitter is now worth about $20 billion, according to an email he sent the company's employees on Friday, a significant drop from the $44 billion that he paid to buy the social network in October. ... Musk did not respond to a request for comment and an email to Twitter's communications department was returned with a poop emoji.

Posted by retort at 09:10 PM | 22 COMMENTS | permalink | Comment on This Entry |

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Musk calls Twitter under his catastrophically bad leadership an "inverse start-up." Wouldn't that be a shut-down?

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That's got to be a record for pissing away $24 billion for someone who's not a government.

#1 | Posted by SomebodyElse at 2023-03-27 09:15 PM | Reply

in the overall scheme of things whats it matter

#2 | Posted by rhymegunfighter at 2023-03-27 09:45 PM | Reply

in the overall scheme of things whats it matter

#2 | Posted by rhymegunfighter

What does a maga moron buying the internet's biggest megaphone and using to spread fascist propaganda matter?

Why do you need the simplest things explained to you?

#3 | Posted by SpeakSoftly at 2023-03-27 10:06 PM | Reply | Funny: 1

There's no end in sight to Twitter's value drop.

Musk is trying to rewrite the whole stack which is throwing away a decade of research and development, what works, what doesn't, and why. Its a rookie developer mistake and a total waste of resources.

Throw in Musk's deservedly thinning advertising accounts, and we are seeing what kind of businessman Musk really is without billions in gov't subsidies. Not good!

#4 | Posted by horstngraben at 2023-03-27 10:23 PM | Reply | Newsworthy 1

Fair questions that Musk doesn't have a clue how to answer, so he stomps his feet. roflmao.

Its a --------.

#5 | Posted by horstngraben at 2023-03-27 10:38 PM | Reply

#3 | POSTED BY SPEAKSOFTLY

anyone reading your posts would conclude that you think that your opinion matters
It doesn't
It's twitter. It's like crypto currency. It only matters as long as someone thinks it does.

#6 | Posted by rhymegunfighter at 2023-03-27 11:57 PM | Reply

Now that's good Capitalism!

wtg Musk, you supercilious ----------!

#7 | Posted by earthmuse at 2023-03-28 06:27 AM | Reply

Musk is trying to rewrite the whole stack which is throwing away a decade of research and development, what works, what doesn't, and why.

#4 | POSTED BY HORSTNGRABEN AT 2023-03-27 10:23 PM | FLAG:

Nobody left at Twitter knows how/why the algorithm works anymore. Too many cooks in the kitchen, too much time and inertia. Worse, it's the least capable social media stack on the market. Even Truth Social has more features. Building a 2.0 stack should have happened under Dorsey but he was to busy trying to be a guru.

#8 | Posted by sitzkrieg at 2023-03-28 07:24 AM | Reply

and losing $20 billion on a trash stack everybody knew was a trash stack underpinned by a massive bot population, continues to be funny.

#9 | Posted by sitzkrieg at 2023-03-28 07:25 AM | Reply

Too bad,lots of really funny people use twitter to let the rest of know of their take on life. Still, if he can ruin Twitter prior to the 2024 elections, I guess he has done his bit for far right authoritarians everywhere.

#10 | Posted by Hughmass at 2023-03-28 07:31 AM | Reply | Newsworthy 1

Musk is the reason for any devaluation, but he also overpaid in the first place. I wonder what the actual FMV was for twitter when he inked a terrible deal that he couldn't weasel out of.

#11 | Posted by JOE at 2023-03-28 07:46 AM | Reply

Much pre-purchase speculation put the real value of Twitter at just over $20 billion.

#12 | Posted by sitzkrieg at 2023-03-28 07:58 AM | Reply

Genius has its price I guess.

#13 | Posted by RightisTrite at 2023-03-28 08:29 AM | Reply

Much pre-purchase speculation put the real value of Twitter at just over $20 billion.

Which means that the real value of the company after Musk ruined it is far less than that today.

#14 | Posted by JOE at 2023-03-28 09:31 AM | Reply

I'm partial to the theory he bought Twitter to cover up that he doesn't have the academic credentials he claims.

That's something Twitter was checking on when we was just going for a seat on the board.

#15 | Posted by snoofy at 2023-03-28 09:33 AM | Reply

Probably one of the reasons why Mr Musk is having difficulties getting advertisers on Twitter...

Antisemitism on Twitter has more than doubled since Elon Musk took over the platform " new research
theconversation.com

...In the days after Elon Musk took over Twitter in October 2022, the social media platform saw a "surge in hateful conduct," which its then safety chief put down to a "focused, short-term trolling campaign." New research suggests that when it comes to antisemitism, it was anything but.

Rather, antisemitic tweets have more than doubled over the months since Musk took charge, according to research that I and colleagues at tech firm CASM Technology and the Institute for Strategic Dialogue think tank conducted. Between June and Oct. 26, 2022, the day before Twitter's acquisition by Musk, there was a weekly average of 6,204 tweets deemed "plausibly antisemitic" -- that is, where at least one reasonable interpretation of the tweet falls within the International Holocaust Remembrance Alliance's definition of the term as "a certain perception of Jews, which may be expressed as hatred towards Jews."

But from Oct. 27 until Feb 9, 2023, the average was 12,762 -- an increase of 105%. In all, a total of 325,739 tweets from 146,516 accounts were labeled as "plausibly antisemitic" over the course of our study, stretching from June 1, 2022 to Feb. 9, 2023. ...

#16 | Posted by LampLighter at 2023-03-28 11:34 AM | Reply

Unlikely. By that logic, the remaining advertisers like Amazon, Apple, etc, are fostering anti-semites. It's a microscopic drop in the bucket of 500,000,000 daily tweets.

It's all about Musk personally being toxic. It's damaged all of his brands.

#17 | Posted by sitzkrieg at 2023-03-28 12:01 PM | Reply | Newsworthy 1

So much for go woke go broke.

Show me a woke warrior who lost 20 billion dollars.

#18 | Posted by SpeakSoftly at 2023-03-28 12:10 PM | Reply

anyone reading your posts would conclude that you think that your opinion matters
It doesn't
It's twitter. It's like crypto currency. It only matters as long as someone thinks it does.

#6 | Posted by rhymegunfighter

Yet here you are sharing your equally worthless opinion. How come?

#19 | Posted by SpeakSoftly at 2023-03-28 12:12 PM | Reply

#19 POSTED BY SPEAKSOFTLY

and I'll freely admit my opinions are just 'my opinion' and I certainly don't expect that what I write or read on the DR to be of any significance at all.

this is a venting/listening place and a substitute for the editorial page.

are you as willing to critique your own wisdomly pearls you so virtuously cast before the ungrateful swine

#20 | Posted by rhymegunfighter at 2023-03-28 02:23 PM | Reply

are you as willing to critique your own wisdomly pearls you so virtuously cast before the ungrateful swine

#20 | Posted by rhymegunfighter

It's not hard to seem virtuous in comparison to someone who picks on suffering minority groups, calls climate change a hoax, or roots for the fascist overthrow of democracy.

#21 | Posted by SpeakSoftly at 2023-03-28 05:56 PM | Reply

Elmo's is effectively turning Twitter into 4-Chan good job Elmo! And the Reich treats him, like Dotard, as business geniuses, when in reality they were born on third base, and seem intend on rounding the bases backward.

#22 | Posted by _Gunslinger_ at 2023-03-28 06:54 PM | Reply

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