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Twitter Turning Into X Is Set to Kill Billions in Brand Value
(www.bnnbloomberg.ca)
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this post was submitted on 25 Jul 2023
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Technology
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I don’t think twitter has $30B in valuation left. Musk bought it for $44B (which was beyond its value at the time, but okay). Since his takeover, it’s lost between 50-60% of its value. That was as of several months ago, so I have to imagine it’s even less now.
With the loss of brand equity, they might be sliding towards the single digit billions very quickly.
He’s just setting money on fire at this point.
What I don't understand is how he can still be in charge, at all? Do shareholders not have any legal mechanism to get him removed?
He is the only share owner. He bought the whole company.
Oh shit, I thought he just bought a majority stake in it. Sucks that he's able to disrupt so many employees' lives in the process of his tantrums & acid trip ideas.
The second largest investors in Elon's Twitter are the Saudis. They might not take kindly to such antics.
The Saudi Arabians have hated Twitter for over a decade now thanks to the role it played in the Arab Spring movement. I wouldn't be surprised if they helped Elon buy it just to kill it.
Yes, that does make a lot of sense. A few billion to take down Twitter is a great investment for them.