this post was submitted on 20 Aug 2023
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[–] Vlyn@lemmy.zip 237 points 1 year ago (32 children)

Because he's doing everything to make it fail and destroy the platform, isn't it obvious?

[–] Buffalox@lemmy.world 149 points 1 year ago (14 children)

No, you don't throw away $44 billion just for shit and giggles, not even if you are as rich as Musk. Musk is (probably) a narcissist who thought he could make it work in his delusional mind.

He wanted a mouthpiece for the MAGA crowd, and he probably thought the desire in the population for it, would make it succeed, if he made the platform embrace that. He probably envisioned himself as a great liberator, who would be celebrated for bringing free speech back to America.

Musk has been losing it for a long time, and it seems to only get worse.

[–] Astroturfed@lemmy.world 29 points 1 year ago (1 children)

Who could of forseen brands not wanting to advertise over hate speech that would turn off half their customer base? I'd love screenshots of my companies products floating around next to seasticas and racism.

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[–] fubo@lemmy.world 126 points 1 year ago (2 children)

"Everything was fine with our system until the power grid was shut off by Dickless here." — Ray Stantz, Twitter engineer

[–] WarmSoda@lemm.ee 80 points 1 year ago (14 children)

It's true. This man has no dick.

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[–] Potatos_are_not_friends@lemmy.world 94 points 1 year ago (1 children)

For the record, It wasn't failing until Musk came in.

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[–] popemichael@lemmy.sdf.org 83 points 1 year ago (4 children)

Once it fails then someone will buy it cheap and rename it twitter.

[–] Da_Boom@iusearchlinux.fyi 21 points 1 year ago

If there's anything left to buy aside from tacky merch shirts. I'm sure the creditors will pick it clean and auction off the best bits to the highest bidder.

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[–] turbonewbe@lemm.ee 66 points 1 year ago (35 children)

Took over Twitter. Ruined it. Then : "The sad truth is that there are no great 'social networks' right now,".

[–] thecrotch@sh.itjust.works 23 points 1 year ago (4 children)

Twitter used to be in much better shape financially before musk took over but implying that it was ever "great" is a bit of a stretch

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[–] orbitz@lemmy.ca 65 points 1 year ago* (last edited 1 year ago) (1 children)

So with wildfires in Canada there's evacuation zones near me, but I can't click on some announcement links from the main site that shows the evacuation zones because they go to twitter and you need to log in now. I think they show some on other pages on the site but they do the quicklink to the twitter announcement in the sidebar so you have to click around a bit to get to it. Yes I know the name but whatever. My point being is when the social media site that was meant for short bits of info isn't good for emergency notifications where everyone can read, it's shitty and potentially harmful.

I’m sorry - as someone who has done some work with disaster response, this was one of my main concerns. When they threatened to take away NWS access to API without huge fees, I was honestly horrified. Thankfully they reversed that decision, but a lot of what my organization did was scour Twitter for official information and also personal accounts of folks who needed help/the conditions on the ground.

It is honestly a travesty that a resource such as this can be reduced to literal 💩 when people need it the most. I wish I had an answer, but I don’t. I hope more and more folks/orgs migrate to a suitable alternative(s) sooner rather than later, but the damage has been done. There’s always a percentage who never do, and you can’t fix that.

[–] circuitfarmer@lemmy.sdf.org 61 points 1 year ago (2 children)

X may fail. Twitter didn't fail. Twitter was bought by a twat who decided to shut it down piece by piece.

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[–] Ubermeisters@lemmy.zip 56 points 1 year ago (2 children)

Oopsie we repeatedly keep taking away you most valuable organizational tools

  • The 1%
[–] yiliu@informis.land 36 points 1 year ago (5 children)

This take is exhausting. It's like the political version of narcissism: here's how everything that happens in the world is actually a conspiracy against me!

If Musk was a plant to sabotage Twitter on the behalf of the 1%, why would he have done it slowly with a series of increasingly bad decisions that caused a mass migration to distributed open-source platforms? Why not just flip the switch and kill it in one go? Or: why not start a program of bots to talk about how awesome Teslas are, and make Trump seem cool, while shadow-censoring criticism of Musk's friend's companies or governments?

You think They are competent and dastardly enough to plan a takeover of Twitter, but then too bumbling to make better use of it than slowly discrediting it with a series of half-baked ideas from a deranged and detestable front man?

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[–] farken@lemmy.world 49 points 1 year ago (2 children)

Can we start a gofundme to persuade him to take over Facebook?

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[–] fne8w2ah@lemmy.world 46 points 1 year ago (1 children)

Best part was he tried to chicken out of his own deal but the feds obv wouldn't allow him back off on his very own proposal to buy Twitter in the first place!

[–] dragontamer@lemmy.world 40 points 1 year ago (3 children)

the feds

Delaware Court.

Contract law is weird.

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[–] solidsnake2085@lemmy.world 39 points 1 year ago

Good, shut it down. Time to end Twitter.

[–] ThisIsMyLemmyLogin@lemmy.world 32 points 1 year ago (2 children)

Now all he needs to do is to connect his own management of Twitter to its failure.

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[–] ininewcrow@lemmy.ca 31 points 1 year ago (6 children)

I have a feeling that that was the plan from the beginning.

The elite don't like seeing common people have an open forum where they can all talk about how terrible their lives are, that their terrible lives are caused by the elite and that the common people should figure out what to do about it all.

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[–] deft@ttrpg.network 31 points 1 year ago (5 children)

genuinely convinced he may have intentionally destroyed twitter to make the next presidential campaign operate on a different field.

sounds crazy but without twitter or reddit, how do "the youth" communicate? tiktok? insta?

[–] Sodis@feddit.de 24 points 1 year ago (1 children)

Big parts of the youth did not use twitter. Twitter had at its peak about 500mio active users. Instagram has 2.4 billion, tiktok 1 billion, snapchat 750mio. The relevancy of twitter is highly skewed, because the media used it a lot.

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[–] nutsack@lemmy.world 29 points 1 year ago (1 children)

thanks for nothing you clown

[–] Lucidlethargy@sh.itjust.works 26 points 1 year ago (6 children)

I mean, Elon sucks, but I am kind of happy to hear Twitter might fully die. I've always hated the idea of forced character limits.

The world needs more critical and expansive discussion, not additional reasons to summerize and minimize important topics into long headlines.

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[–] 30mag@lemmy.world 27 points 1 year ago (1 children)

Nothing of value was lost.

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[–] drapermache@lemmy.world 22 points 1 year ago

And somehow it’ll be the “woke mind virus’s” fault. There will be no self reflection at all.

[–] nutsack@lemmy.world 22 points 1 year ago* (last edited 1 year ago)

the guy didn't even want twitter. the whole thing is depressing.

[–] MeanEYE@lemmy.world 21 points 1 year ago (2 children)

I wouldn't be surprised this is him urging his cult to buy monthly subscriptions. If we see higher tier subscription be introduced one of these days, that would be the reason for this fear mongering. That said, it's awesome that he's getting a reality check. You can be surrounded by as many yes-men as you want but people en masse don't care and even if they do, they love seeing rich people humbled. No one misses a good shitstorm.

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[–] MossBear@lemmy.world 20 points 1 year ago (3 children)

The time of the Mastadon is at hand.

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[–] Dekthro@lemm.ee 20 points 1 year ago

Oh no! Anyway.

[–] Buffalox@lemmy.world 18 points 1 year ago (3 children)

In May Fidelity wrote down the value of its stake in the company then still known as Twitter, giving it a value of about $15 billion – or just a third of what Musk paid, The Wall Street Journal Reported.

I think even that was not realistic, and back in May things were not as bad yet as they are now at "The thing formerly known as Twitter". I doubt anyone would buy it at even half that now. Musk added a debt of $20 billion, that's about what it was worth at the time Musk bought it.

With that debt, the company became basically worth Zero. Even at the estimate when Musk bought it.

If the $20 billion debt was somehow removed, it would still be worth less than $10 billion. Meaning that its current actual worth is probably below negative $10 billion! Meaning the only value is the tax value of the deficit. And no creditors get paid. It's basically already bankrupt, unless someone pumps in more money, and I'm not seeing that happening with a company as bad as "The thing formerly known as Twitter".

Seems like the only way forward now, is bankruptcy and maybe reconstruction after selling the company without the debt for peanuts.

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[–] ugjka@lemmy.world 18 points 1 year ago (3 children)

He can still turn it into a porn app

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