270
X drops headlines from articles, as new report details its bleeding ad revenue
(www.marketwatch.com)
this post was submitted on 05 Oct 2023
270 points (79.3% liked)
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Holy shit, that’s brutal. That company is dead
I’ve seen estimates that put the loss of value of the company itself since Elon took over at something like 90%. If that’s anywhere even close to accurate… impressive. Most impressive.
Since Twitter is now private, we'll never know the real numbers, but the paper value of the Twitter brand itself being cast aside is a huge non-monetary loss.
Right?? Like, it was one of the most known brands in the world. You don’t throw that away if making money is your goal.
That's not entirely true. There is a company that still holds its Twitter shares even after it went private. They are the ones that everyone points to when looking for real estimates of how much value the company has lost. Every quarter or so they release their estimate of their shares in Twitter, and based on the total shares they own, we can get a good idea of the total company valuation.
Twitter always was private and profit-driven.
Twitter was a public company before Elon's acquisition. Not sure what you're trying to get at with the "profit-driven" comment either... every business is by necessity.
Don't mix private vs gov entity with private ownership vs ownership shares open for purchase top the public
You forget about NG-NPOs. Linux Foundation is NG-NPO, FSF is NG-NPO.
They enshittified themselve to death
They've gone and Dugg themselves a whole that will never come out of while Musk is there.