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Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price (techcrunch.com)

submitted 1 month ago by GeneralInterest@lemmy.world to c/technology@lemmy.world

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"Fidelity is currently valuing X at about $9.4 billion"

I found this funny.

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[–] reksas@sopuli.xyz 36 points 1 month ago (5 children)

its worth comes from being able to influence world politics. Does he seem like someone who cares or needs money?

[–] Kyrgizion@lemmy.world 15 points 1 month ago (1 children)

True, but that power is also diminished greatly as more and more regular users abandon the site. No eyes on the propaganda makes it worth a lot less.

[–] kobra@lemm.ee 7 points 1 month ago* (last edited 1 month ago)

Yeah I’m sure I’m not the norm but I’m actually shocked when I see companies advertising their talent’s twitter accounts on tv broadcasts. I truly can’t believe that site is still mainstream after everything that’s happened.

Idk then I look over and see trump as a presidential candidate and ugh… I guess I’m just still not comfortable/accepting of how far off the rails things have gone 🙁

[–] vvvvv@lemmy.world 12 points 1 month ago (2 children)

Twitter currently has $1.5 billion/year deficit which is a lot, even for Musk, to bankroll.

[–] reksas@sopuli.xyz 7 points 1 month ago

that brightens my day a little to hear

[–] Showroom7561@lemmy.ca 2 points 1 month ago (1 children)

Source? Where is that money going?

[–] thesporkeffect@lemmy.world 4 points 1 month ago (1 children)

Interest on loans, payroll, cloud infrastructure e.g. AWS

[–] Showroom7561@lemmy.ca 2 points 1 month ago

Those are mostly operating costs, offset by revenue, but are they actually losing 1.5 billion dollars a year? I mean, I hope so, but are they really?

[–] PriorityMotif@lemmy.world 2 points 1 month ago

The natural language dataset is worth a lot. That's why they're and Reddit made the sites harder to use/scrape.

[–] erenkoylu@lemmy.ml 1 points 1 month ago

Does he seem like someone who cares or needs money?

He got a massive load to buy Twitter, so yeah, he does.

[–] johannesvanderwhales@lemmy.world 1 points 1 month ago

He didn't bilk Tesla shareholders into his huge pay package because he doesn't care about money.