No. Whoever wrote this doesn't understand bankruptcy.
If things got really bad creditors would take control and sell the business to shareholders who would install a clean CEO who would entice advertisers back.
No one would utter the b-word.
this post was submitted on 03 Dec 2023
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Twitter isn't public, though. Elon took it private when he took over, so there aren't any shareholders beyond Elon and the Saudis who chipped in money to buy it.
That doesn't preclude what I said though.
Now even Betteridge's law is dead.
Hopefully. It's a huge pile of trash.
We should be so lucky. But aren't the losses so far not that much compared to the market value?
The purchase price already exceeded the real market value, which is why the former board was persistent in pushing the deal’s completion. A normal price at the time would have been about 20% less. Estimates since then have been even lower, like maybe $20 billion. So most of the loss is in market value, not cash expenditure or lost revenue.
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