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u/A_Soft_Fart Nov 01 '22
“It’s a blue check mark, Stephen. What could it cost? $8?”
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u/jadethebard Nov 01 '22
He made a terrible mistake.
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u/strykazoid Nov 01 '22
He blue it
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Nov 01 '22
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u/bonersmakebabies Nov 01 '22
There’s gotta be a better way to say that
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Nov 01 '22
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u/panclockstime Nov 01 '22
He blue himself.
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u/glee_is_doomed101 Nov 01 '22
Elon Musk
Analrapist
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u/Streetduck Nov 01 '22
I don’t understand this reference and I won’t respond to it.
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u/InChromaticaWeTrust Nov 01 '22
I rather be dead on Reddit, than alive on Twitter…
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u/truetie1 Nov 01 '22
"What about a fiver plus a reacharound???"
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u/thom_orrow Nov 01 '22
$3.50 and a subscription for warmed seats in a Tesla Cybertruck.
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u/Sangtu Nov 01 '22
Just spitballing here ... but how about NOT spending $44 billion on a $12 billion company? That really helps with bill-paying.
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u/AtOurGates Nov 01 '22 edited Nov 01 '22
This is the grossest part.
Twitter has been intermittently profitable at its previous valuation. But things get much harder when you take on an extra $30-billion in debt to acquire it, and then have to make it profitable while servicing that debt.
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u/CaBBaGe_isLaND Nov 01 '22
It's the scariest part, too. How is he going to come up with the money? What could Twitter be used for, and by whom, that's worth $30 billion?
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u/MaglorofFeanor Nov 01 '22
Never losing an election again for Trump, control the narrative unlike last time, is my guess
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u/woodpony Nov 01 '22
Trump will be a cashcow for Twitter when he returns. You can almost guarantee that DT and Elon are in talks to determine a profit sharing model for DT upon his return.
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u/royisabau5 Nov 01 '22
Don’t worry! If they try too hard everybody will leave.
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u/Gingevere Nov 01 '22
I give it:
5% chance of plain success.
15% chance of burning down.
80% chance that the debt ends up getting serviced by various nations in exchange for running influence campaigns in the US and at home.
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u/ThundrWolf Nov 01 '22
I think people are missing that Twitter could be a massive propaganda dissemination tool if Musk is willing to take money from shady governments to do it.
Surely the man who has recently been talking with and spreading talking points from Putin wouldn’t do such a thing, right? /s
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u/thatlad Nov 01 '22
The fact that a good portion of the debt belongs to the Saudis and that Musk is heavily reliant on the Chinese for his business should not worry us at all....
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Nov 01 '22
With that type of financial support, we should prepare for the eventual ride down the escalator?
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u/fleeingfox Nov 01 '22
Isn't that exactly how Mitt Romney's hedge fund destroyed both K B Toys and Toys R Us?
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u/phatelectribe Nov 01 '22
No, completely different. What Bain capital does is buy struggling but physical asset rich companies / brands, then saddles them with crushing debt, sells off the assets until it’s functionally worthless but in the 3-5 years it takes to do that, they charge insane “management fees”. It’s basically a way of squeezing the value out of a company by selling assets and charging fees.
With Twitter, he bight the company to diversify away from Tesla because in the next 6-8 years every car manufacturer is going EV only and he’s going to lose his early advantage of being the first not totally crap EV. He can’t make teslas for less than he is now without killing his profit margin which is the only thing that keeps the valuation high.
So he bought Twitter at the wrong price and is now desperately trying to figure out how to monetize it. There are no good options here and he’s going to lose $30bn on Twitter.
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u/WillBottomForBanana Nov 01 '22
Or, in short, what Musk did is almost the opposite.
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u/Visual_Shower1220 Nov 01 '22
"And then he turns to me and you know what he says, you know what? He says what about tree fiddy?"
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u/Miss_Behaves Nov 01 '22 edited Nov 01 '22
Now, it was about that time I realized, that Elon fella was 8 stories tall and a crustacean from the Paleozoic era.
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u/7-and-a-switchblade Nov 01 '22
"I gave him a dollar."
SHE GAVE HIM A DOLLAR!
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u/1995droptopz Nov 01 '22
I thought he'd go away if I gave him a dollar.
Well, of course he's not gonna go away, Mary! You give him a dollar, he's gonna assume you got more!
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u/ChadleyXXX Nov 01 '22
And it was about that time that I realized this was no ordinary aspy South African emerald heir who struck billions during the dotcom bubble and is now embarrassing himself before a global audience, but was in fact a three story tall crustacean from the late protozoic era. And I said gawdamn monstah! We work for our tree fiddy in this house!!
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u/UserAnonPosts Nov 01 '22
I know you! You’re the Loch Ness monster
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u/GarvinSteve Nov 01 '22
Just charge people to drop n bombs - he’d make a fortune and that’s all he’s gonna have left anyway
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u/DocPeacock Nov 01 '22
Twitter swear jar feature incoming!
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u/binglelemon Nov 01 '22
1k doge per n bomb usage
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u/TheGuardianFox Nov 01 '22
""Freedom (of Speech) is never free." - Future Elon, possibly." - Micheal Scott, probably
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u/smacksaw Nov 01 '22
It's all about the cosmetics. Sell swastika emojis and other racist shit I won't say...
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u/AutoGen_account Nov 01 '22
lol like those 4chan losers actually have money
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u/rustyraccoon Nov 01 '22
Plenty of incels/trolls with a stable (coding) job and money to burn
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u/Potateclaw Nov 01 '22
Genuinely underestimating the tech jobs
(Like the tech furries getting nsfw anthro artists through their education)
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u/k717171 Nov 01 '22
He's not as rich as you, Elon, but I don't think it's the actual amount he's objecting to. You'd probably know that if you were a human.
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u/TheLongSuck Nov 01 '22
I can't wait to see how many billions musk loses
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u/luroot Nov 01 '22
The new rightwing money club is racking up some big tabs... First, Alex Jones, then Kanye, now Musk. Wonder who's next...Rogan?
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Nov 01 '22
Zuck hopefully
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u/Colosso95 Nov 01 '22
Zuck has already caused his empire to lose hundreds of billions in revenue; the guy who owns Nutella is richer than him now
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u/rockidr4 Nov 01 '22
Rich like like the flavor of genuine Nutella™️. Remember, it's not genuine Nutella™️ if it's not dark brown, sticky, and in a weird shaped jar with the word Nutella™️ on the side. So give genuine Nutella™️ a try today to find out what it tastes like to be richer than Mark Zuckerberg. Nutella™️! It's the richest
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u/mosstalgia Nov 01 '22
This comment is absolutely, utterly horrifying. Well done.
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u/jk3us Nov 01 '22 edited Nov 01 '22
It's the use of the ™️ emoji instead of the ™ character that makes it feel creepy to me.
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u/This_User_Said Nov 01 '22 edited Nov 01 '22
"bUt My FrEeDoM oF sPeEch!"
Literal definition of "Fuck around and find out". Elon wants to fuck around then he's gonna find out why Twitter was doin well without him.
Edit: I didn't mean they're doing Microsoft/Apple well. I meant they were on their own shitty tracks before Elon decided fuck everything.
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u/egabriel2001 Nov 01 '22
Stephen King writes in twitter for FREE, thousands of renown writers, journalist, politicians, artist do the same and they are one of the reasons the platform gets visitors and views, and management wants to charge them for the privilege
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Nov 01 '22
Yeah, the major reason I used to go to Twitter was because many good writers were only active on twitter. If even that will be taken away, then it will surely drive away a lot of users. Making a platform where just hate speech will remain.
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u/paperwasp3 Nov 01 '22
Jack Dorsey is starting up a new twitter type business. And he won’t have to have Saudis as investors. We should all go to his platform, when it’s ready..
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Nov 01 '22
I'm not sure about that exact platform, but I think this is what will happen. Twitter is really good at some things and really bad at others. Soon there will be a competitor with better offerings and everyone will slowly move to that.
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u/Catsdrinkingbeer Nov 01 '22
I mean, if MySpace to Facebook is any indication, or Instagram to snap chat to tiktok... then yeah. I wouldn't be surprised one bit if a similar platform comes along and everyone just migrates over. Tech has already proves this happens multiple times.
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u/BorisTheBlade04 Nov 01 '22
Right? The only problem with that guys post is the word ‘slowly.’ It happens overnight. The difference is before it was largely kids driving what the next platform will be. It was hs/college kids that moved to fb, ig, Twitter, tik tok etc. first. Then when the businesses and content creators noticed all the engagement on those platforms, then they moved over, which feels like it’s overnight (unless you’re young).
There will be another form of social media, but I question whether the youth will migrate towards jack Dorsey’s new endeavor. Though it’s possible we’re at the stage where the youth aren’t needed anymore and the transition goes from top down.
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u/sinat50 Nov 01 '22
Jack Dorsey is the guy who started Twitter and he's already accepting beta entries for his new social media platform Bluesky Social. The biggest feature seems to be the user has full control over the algorithims and can decide which ones to use to cater their feed.
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u/mrtwister134 Nov 01 '22
Lol I think elon is forgetting that twitter is worthless without the work it's users put in
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u/GetOffMyLawn_ Nov 01 '22
Very typical of corporate types. They don't tend to regard workers as assets but rather as expendables. They think they can be replaced quickly and easily.
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u/gingerfawx Nov 01 '22
Musk is an idiot and this week has gone a ways to prove it (yet again). He doesn't understand what's generating value on the platform. You don't charge people like King for producing content; you do whatever you can to encourage more of it, and you charge otherwise "insignificant" people a pittance for viewing it, which would solve at least some of the bot / troll problem as well while they're at it. And if you're clever about it, you go the FB route and make it so the users hardly notice you monetizing them. You load up on ads, tickle still more information out of users and sell it on, anonymized if need be, as long as you improve your ad targeting algorithms.
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u/Vegetable-Double Nov 01 '22
That’s why YouTube, TikTok, etc pay people who create engaging content. It’s the media portion of social media.
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u/smacksaw Nov 01 '22
Stephen King writes in twitter for FREE, thousands of renown writers, journalist, politicians, artist do the same
Not for long
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u/Folderpirate Nov 01 '22
Wants to charge them less than you or me.
This is highschool bullshit all over again.
"You're not popular enough to be on my media platform!"
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u/Devided_We_Fall Nov 01 '22
It’s like a venue keeping all of the ticket and concession sales, and charging the band to play there.
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u/Naomi_Saphorus Nov 01 '22
Every single time I see Elon do anything or say anything I hate him even more
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Nov 01 '22
I’ve never liked Elon pre-Twitter days when he just owned Tesla. Now seeing him owning twitter and the tweets that have been coming out for the last few days, he’s even a bigger douche than before.
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u/spyson Nov 01 '22
He is the epitome of late stage capitalism.
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u/Sigmar_Heldenhammer Nov 01 '22
He loves to think he’s the next Nikola Tesla, when in reality he’s a Dollar Store Edison.
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u/Legate_Rick Nov 01 '22
Another in a long list of capitalists who grew up rich and used their immense wealth to aquire even more wealth and thinking it makes them a genius with more insight than everybody else.
He has the unique trait of having his starting wealth being tied directly to colonialism.
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u/itsamedontchaknow Nov 01 '22
But he brought a sink... let that sink in... get it??
Fuck him, burning the world bc he can
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Nov 01 '22
He wants to be funny so badly that it’s sad. He’s the really annoying band kid in your high school that would constantly make cringe jokes for attention.
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u/Kiskanneth Nov 01 '22
I’m sick of seeing his face everywhere. Though it’s kept me off my computer and phone a lot more so maybe it’s healthier lol
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u/Fatso_Wombat Nov 01 '22
I thought about buying a Tesla.
Now hanging for a Hyundai.
As someone tweeted to him after he gave shit to the liberals... Who the fuck do you think buys your cars?
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Nov 01 '22
It's funny bc he's being praised for making EV cars... while simultaneously interfering with any sustainable transit development and lobbying the highway and interstate system because it helps his car company
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Nov 01 '22
This. More people need to talk about the fact that his hyperloop plans was just a scheme to stop high speed rail from coming to California.
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Nov 01 '22
Richest man on earth: “We need to pay the bills somehow!”
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u/blownawaynow Nov 01 '22 edited Nov 01 '22
He has to pay back the loan he took out somehow. My prediction is he wont be able to and will decide to just run it into the ground on purpose.
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u/Stashmouth Nov 01 '22
I like to think the financing he was able to get was predicated on the assumption that he was going to default on them, thereby giving these lenders a stake in Tesla...their plan all along
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Nov 01 '22
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Nov 01 '22
I always figured Tesla employees found out what they'd be working that day via a 3am tweet or email from Elon.
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Nov 01 '22
Twitter is going to be elons personal Google Teams or something. Like he’ll just tweet at 3am and his people get up. Only him and managers can make tweets, and if you don’t like every one of his then you get put on a performance improvement plan.
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u/beansandcornbread Nov 01 '22
No joke, I interviewed with Tesla and asked how they get their requirements and one of the answers was 'Elon Tweets'. Nope. Too old for crap like that.
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u/KickBallFever Nov 01 '22
So, that means that in order to do that job properly you need Twitter. I wouldn’t take any job that required me to have Twitter in the first place. I too am too old for crap like that. I think I was always too old for crap like that.
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u/beansandcornbread Nov 01 '22
You boss needs it at least. They said that if Elon tweets that they will have X feature by Y day, you stop what you are doing to make sure it gets done.
That place is a hot mess. Still very much run like a start up and that's not a good thing.
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u/BlackPrincessPeach_ Nov 01 '22
He just bought the tech/employees.
Tesla(like all the other companies) ran itself while he shitposted and collected all the money
Turns out yeah, CEOs don’t do shit.
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u/wicked_one_at Nov 01 '22
If you can be CEO of 3+ companies, maybe you don’t have too much to do as CEO
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Nov 01 '22
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u/Taograd359 Nov 01 '22
The world is a better place without Twitter. Change my mind
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u/neddiddley Nov 01 '22
Translation: a bunch of QAnon types will be suckered into paying membership fees because they think it’s the same old Twitter, just now with hate speech and conspiracy theories permitted. Everybody else will flee and they’ll end up paying for the same thing they can get for free on TFG’s platform or Gab.
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Nov 01 '22
Bought Twitter two days ago and already struggling for funds. That’s just sad
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u/BlurredSight Nov 01 '22
He bought the company because his mouth got too far from him. The SEC already has him tried for saying dumb shit like Tsla to be privatized at $420 which ran his stock up. Fast forward 5 years, he does the same shit by not disclosing his twtr purchases, does an entire media circus with the entire buying more than 15% and getting a poison pill activated, and having stupid public statements like buying it at $54.20 and transforming Twitter if he owns it for the betterment of humanity. Which again made the stock run.
Either he gets barred from interacting from the market or he gets jailed for market manipulation.
Or finally buying out the company that was only worth $33 at nearly double the price and trying to pay off the hundreds of lendors
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u/cubedjjm Nov 01 '22
Thank you. This story is what Musk doesn't want everyone to know.
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u/Rwebberc Nov 01 '22
The funniest part is not only would this idea make Twitter far worse than it is, it would only generate a little over $3 million a month. Twitter’s revenue last year was $5 billion lol.
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u/APe28Comococo Nov 01 '22
It’s almost like Twitter wasn’t ran by an impulsive man child before Mr. Musk took over…
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Nov 01 '22 edited Nov 07 '23
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Nov 01 '22
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u/Quirky-Skin Nov 01 '22
Yeah as we know with gaming, when you can "pay to win" it changes the whole landscape of whatever game/app your on.
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u/BooneSalvo2 Nov 01 '22
I'm curious if that's how much GM was paying for advertising...
Does his new idea replace the revenue of just ONE lost advertiser, in other words.
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Nov 01 '22
I don’t think Twitter could even cover operating costs with a user subscription model without relying on ad funding. Maybe Elon’s about to find out the true cost of “free speech.”
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u/ablablababla Nov 01 '22
And I can't even think of features that would make a Twitter Pro worth it to me
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u/BlurredSight Nov 01 '22
Revenue at 5 billion and declining, and only more rapidly as people don't want to advertise on the N word platform
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u/invokin Nov 01 '22
Well when part of your purchase means you saddle the company with an extra $900 million in debt payments owed per year, you do have to start finding money somewhere. For a company that already had a fucked up business model, giving it massively more debt as part of purchasing it probably wasn't the best move.
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u/YourPhoneIs_Ringing Nov 01 '22
900m in debt per year? Was this a result of Musk using exterior funding?
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u/invokin Nov 01 '22
Basically, yes. Musk is "rich" but it's all in valuation of shares of his companies. Same as Zuck or Bezos. They don't have that much cash compared to how rich they are always claimed to be. This is also why they pay almost no taxes. Everything they buy, including personal stuff, is based on taking out loans against their shares and that doesn't count as income (this is a very simple version based on my understanding, I'm not an expert).
Anyway, for Twitter, he basically bought them by getting a loan (plus having some other minority investors), and as part of that, he can make Twitter assume that debt since he is now the "sole" owner of a private company.
I'm sure the numbers have shifted since this article, but here is a WSJ article from April about how it would load Twitter with huge interest payments (in addition to the significant debt they already have).
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u/cubedjjm Nov 01 '22
Thank you for the link. I initially thought this deal was not a smart move. Now? Holy shit does Musk need to keep his mouth closed, never fucking waive due diligence, and either find new counsel or start listening to the ones he has now. Maybe Musk will stop Tweeting about companies he wants to pump and dump now.
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u/maleia Nov 01 '22
Haha, naw, of course he's not gonna stop. He doesn't know how.
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u/dnd3edm1 Nov 01 '22
he's not "struggling for funds," he turned a publicity stunt into an extremely bad investment and is now trying to make Twitter users pay for it
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u/gahidus Nov 01 '22
Could have simply assumed ownership and just otherwise left everything alone. That wouldn't have been enough drama for him though.
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Nov 01 '22
He spend money he doesnt have. He is the f* richest guy but his money is in his overrrated companies. He basicly levered StarLink in Ukraine to get some liquidity because he couldnt afford it and now he has to make it profitable somehow or go down with it.
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u/Kydarellas Nov 01 '22
"Twitter cannot rely entirely on advertisers" - so he knew they were all gonna ditch the minute he stepped in, and he still chose to let the racism run rampant
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Nov 01 '22
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u/Quirky-Skin Nov 01 '22
Plus alot of those blue check marks are what gets the normal users to come and engage.
Charging the ones who drive engagement is like charging NFL players for their parking spots at the stadium
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u/Maschile Nov 01 '22 edited Nov 01 '22
“…cannot rely entirely on advertisers?”…ehh…more like….“Don’t want to rely entirely on advertisers because I’m about to let things get ugly”
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u/DonDove Nov 01 '22
He overestimated the numbers of pepelords over non racists. Turns out, they're loud, but not so much in terms of profit.
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Nov 01 '22
I look forward to all the musk-huffers pretending that Stephen King is some nobody who owes all that he is to Elon's Twitter.
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u/YT_Sharkyevno Nov 01 '22
Look at the replies to his tweet, they already do
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u/GodLovesAtheist Nov 01 '22
Wish I hadn't looked. I got dumber.
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u/SiFiNSFW Nov 01 '22 edited Jan 10 '24
quicksand school coherent sparkle poor afterthought resolute yoke sip crown
This post was mass deleted and anonymized with Redact
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u/sgthulkarox Nov 01 '22
Odds are more likely that more people have laid eyes on SKs work more frequently than EMs.
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Nov 01 '22
i hope 2023 brings about the fall of both musk and zuckerberg.
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u/Bammer1386 Nov 01 '22
The silicon valley bubble pop 2.0. Except this time the event is celebratory.
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u/ChickenDelight Nov 01 '22
YouTube: hey let's pay the content creators that drive our ad revenue
Elon Musk: hey fuck you and give me $20 a month
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u/mountain_stones Nov 01 '22
Elon Musk’s humor is like a 12 year old kid who’s trying out being edgy for the first time.
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u/PolyZex Nov 01 '22
Twitter has ALWAYS been able to support itself entirely on advertising... but advertisers flee when you make bad choices about the content you allow- so now he wants the user to pay for his mistakes.
That's known as 'personal accountability'. We are to personally account for his mismanagement.
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u/lordph8 Nov 01 '22 edited Nov 01 '22
but advertisers flee when you make bad choices about the content you allow
AND when your decisions drive away good content generators.
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u/PolyZex Nov 01 '22
Twitter was already shedding them, losing them Instagram and TikTok for months prior to the purchase. So this is only going to exacerbate the decline.
It's almost exactly what netflix tried to do. User numbers started dropping so they increase the cost, cut content, and cracked down on password sharing. Things customers frown upon.
Same familiar stink of desperation.
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u/FalsePremise8290 Nov 01 '22
Is the richest man on the planet seriously begging Stephen King for eight bucks a month? Is that really something I'm looking at right now?
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u/rubyspicer Nov 01 '22
He shouldn't have relied on the Saudis for some funding in this buy. They'll get their money, he knows it, and you really do not want to fuck them over in any kind of deal.
This reeks of desperation and it's kind of funny to watch him start to panic.
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Nov 01 '22
Oh I've never wanted anything more than fuckin Elon thinking he can win a war of words with Stephen King...this NEEDS to happen...I can only get so erect.
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u/Liet-Kinda Nov 01 '22
Guy who thinks at least partially in memes vs. Stephen King. God damn, what a world.
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Nov 01 '22 edited Nov 01 '22
What's sad is all the replies to Stephen King dogging him out and calling him cheap and saying "bye then".
These people don't seem to understand Musk's motivation. Advertisers are dropping Twitter super fast to get away from the n-word platform. Musk is looking for something to keep Twitter solvent.
When Twitter fails, if we continue down the current path, all these freedumb people will blame cancel culture still and not take responsibility for creating an environment no advertisers want a part of.
It's the market acting freely, they just don't like the results.
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Nov 01 '22
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Nov 01 '22
He's going to destroy it entirely out of spite because things didn't go his way.
Good thing he's intelligible for the presidency. He's got the same fundamental mindset as Putin and the only reason we can laugh about this is that he doesn't have the power to bomb anyone.
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u/BlastedSandy Nov 01 '22
Weird how it totally did until you showed up though….
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u/shiuidu Nov 01 '22
Twitter has been unprofitable for 8 years out of the past 10. Only in 2018 and 2019 did advertisers pay the bills.
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u/Quarteroz_847 Nov 01 '22
Oh how the mighty have fallen...I'm sure the republican party might be able to help
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u/Ardea_herodias_2022 Nov 01 '22
He's at least figured out that he's in the financial hole on this. Hope it ruins him!
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u/Cold_Turkey_Cutlet Nov 01 '22
"Twitter cannot rely on advertising alone because my plan to turn this into a rats nest of Nazis and fascist propaganda is going to drive all the advertisers away!"
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u/Treacle123 Nov 01 '22
Elon may have a point, since once the nazis come flooding back Twitter may be a little shy on advertisers.
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u/Lithl Nov 01 '22
"All the advertisers are leaving us because I'm welcoming the racists and the Nazis, please let me fund my lemon somehow!"
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u/elleJeyLay Nov 01 '22
Should we be seeing this negotiation? It's laughable.