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this post was submitted on 03 Jul 2023
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Twitter was an important unifying communications tool during the Arab Spring. The Arab spring was a threat to biz as usual in places like Saudi Arabia. The second largest investor in Twitter is Saudi Arabia.
Saudi Arabia killed and dismembered a journalist from the US, more or less in plain sight. Elon is now killing and dismembering Twitter in plain sight to limit its power as a unifying tool that stands as a demonstrable, active threat to capitalism and oligarchs around the world.
Billionaires do favors for other billionaires. It's part of why spez is trying to tank Reddit. Remember how dangerous Reddit was to capitalism's status quo around the time of GME/Robinhood/Antiwork recently.
The specific moment we're in right now is meant to shatter consolidated organizing power on Reddit as we splinter into several smaller alternative platforms (or for some, disconnect entirely). Not saying we shouldn't be in Lemmy, but calling out the larger reality of the moment.
Billionaires do favors for other billionaires.
I like this take, but this is a conspiracy theory take. Change a few words and this would be something regurgitated by Q fanatics.
I’m glad I’m not the only person thinking about this. I had no idea about the Saudis owning Twitter like that. All decisions made by the rich are for Money^TM^. Usually it’s Money^TM^ in either the form of growth (profit, short term) or investment (power, stability, long term). Some of spezs actions are easily explained by Money^TM^ when you take into account LLMs mining reddit. But that does not explain being so insanely hardline with their API. There was absolutely a resolution to that that was profitable and didn’t continue giving away “their” information for free. This is where I think a 3rd Money^TM^ comes into play: existential investments. These are actions they take to ensure the other two forms of Money^TM^ continue to function the way they want them to. Such as tanking the two most significant online tools for organizing collective action against them.
Decisions at that level are made for power. Sometimes money is part of that
This sounds a lot like Hanlon's razor. "Never attribute to malice that which is adequately explained by stupidity."
Do you really believe that people like spez, Zuckerberg, Musk behave like they do because they want to do favors for other billionaires? Isn't it much more likely that they're just ... disturbed? That they are narcissistic, megalomaniac, maybe idealistic in their own believe. And in being that, they make stupid decisions because they literally work differently than regular folks.
Yeah, I also seriously doubt there's a big conspiracy happening where ultra rich people are helping each other. Have you looked at those people? Most don't give a fuck about anyone but themselves.
Musk bought Twitter around the time he was fighting with this guy that had the private jet tracker. I think it's more reasonable to believe that Musk bought Twitter just to shut that down and now it's a toy he can play with, where every time he merely touches it, media jumps on it, which feeds his ego massively. And once Twitter is dead, he'll discard it and move on to the next thing. Like a cat playing with its prey.
Normally I would tend to agree with you, but look where Musk got his "loans" to buy out Twitter. Saudi Arabia and Russia where big "lenders".
Agreed. It's no coincidence that both Twitter and Reddit are shitting the bed at the same time.
Elon is pretty clearly an actual idiot, and has managed to get by thus far by just having a seemingly endless supply of fuck you money, but this is just capitalism doing the Predator bicep meme with foreign oligarchs to consolidate power.
I mean, it sort of is. Unless the fed is involved in this billionaire conspiracy also (which the nature of conspiracy theories will undoubtedly have someone saying of course the fed is in on it with the billionaires).
The simple answer really does make the most sense here. Interest rates are on the rise, and platforms like twitter and reddit have been around for a very long time and none of the venture capital backing them has ever turned a real profit despite the money being pumped into them. Investors will pull out money from the riskiest items first when interest rates rise, and the riskiest items are social media platforms that haven't demonstrated monetization potential even after a decade of use and monolithic control within their spaces. If a link aggregator like Reddit, which is really the only major player in its brand of social media can't turn a profit with basically no competition why would you continue supporting it?