• knfrmity@lemmygrad.ml
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    2 years ago

    I just read that Twitter lost $ 1B in 2020 and “only” a quarter of that in 2021. I’m sure we have different ideas than libs about how a company should be valued, but no way we’re all coming up with $45B for a company bleeding money.

    It gets worse though. Since a big part of Musk’s purchase was financed with debt there’s an additional $1B per year of debt service that Twitter now needs to pay. So there are really three basic ways this goes, either it dies a slow horrible death, he somehow magically finds some people who are able to successfully monetize it and stem the user exodus, or his US government and ruling class buddies pump in a bunch of cash to keep it solvent because they need Twitter for psyops and propaganda.