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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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It honestly seems like some sort of virus going around. It has affected people I know, strangers I see on the street, CEOs, celebrities, comedians, etc.
People have just lost their common sense and are more likely to believe the impossible than the improbably. More likely to act out of spite than the interests of society as a whole, or even their own self interest.
Not sure if it was COVID, the internet, media, or idk what else, but people like Elon are popping up left and right. It's crazy and I don't even have the words to describe it.
VCs fucked up the tech industry when capital was cheap by investing in companies that showed potential for massive growth without caring for the viability of the business. Now capital is expensive and these same companies are now trying desperately to make a profit to become a sustainable business because the VCs aren't blindly giving them money anymore. This is exposing a lot of company's leadership teams incompetence.
Could be a bias and/or coincidence. Due to all the shit in the world (partially due to COVID as well), the financial markets are quite troubled and much more unsteady than before. This also increased the pressure on a lot of previously growing companies who then suddenly had to change course and shrink again. Increasing prices and decreasing revenue while investors become more cautious means that a lot of these "startup"-kind-of-companies are suddenly in big trouble and enter survival mode.
People who were able to sell ideas to investors suddenly need to actually manage and become profitable. Stuff that worked without a real strategy (aside from shining for the investors) suddenly needs to stand on its own feet.
And they become a bit more brave since they hope they'd be overshsdowed by others. Like a line of professional cyclers defending each other against the wind coming from the front. If Mask would keep trending with X, many others would not get traction.
These are all very real possibilities.
Here's another: The big shot billionaire's agreed over drinks one night that their handlers - the staff that used to make them look smart - were overpaid.