Elon Musk cuts Twitter employee benefits as he warns of bankruptcy

[noxibox]

Cyril needs to take a leaf from Elon's playbook. You need to cut deep and fast to turn a rotten organization around. Not pussyfoot around politically sensitive issues. Pleasing everyone will yield zero results.

Musk would fail miserably at politics.

 

[Pitbull]

Everything since PayPal isn't really an achievement for Musk

That is a bit unfair...

He's a visionary and has the personality to drive those ideas. If not for him, we would not have had reusable rockets. Did he design implement and execute the idea himself? No, he has the vision to surround himself with people who can make his dreams a reality. It's like trying to say a very successful company isn't successful because of it's leadership. You can't have a successful business without the right leaders, so he used his money to get him the podium spot he wanted to lead companies to be world leaders....

SpaceX is by far his greatest achievement. Tesla... meh.

 

[konfab]

I want to impress upon you guys, that Musk can lose 99% of his assets and have more capital for 100 lifetimes, world is unfair like that, lol.

$40b is a side project for this guy, it's sick if you think about it.

He seems to be having fun, so for him it's time well spent, money hasn't applied to that dude a long time ago.

If you have that much wealth, you can literally borrow against your own investments at maybe, MAYBE 1% interest, the system is totally broken on that level.

Give this a watch, the world is very unfair.

Excellent video. Good reason to switch to a transaction tax as opposed to income tax or wealth tax. Doesn't matter how they get their money.

 

[Temujin]

That is a bit unfair...

He's a visionary and has the personality to drive those ideas. If not for him, we would not have had reusable rockets. Did he design implement and execute the idea himself? No, he has the vision to surround himself with people who can make his dreams a reality. It's like trying to say a very successful company isn't successful because of it's leadership. You can't have a successful business without the right leaders, so he used his money to get him the podium spot he wanted to lead companies to be world leaders....

SpaceX is by far his greatest achievement. Tesla... meh.

Yeah, watching these landings still blow my mind

https://twitter.com/i/web/status/1587446533724803072

https://twitter.com/i/web/status/1587442127214034944

 

[zolly]

SpaceX is by far his greatest achievement.

Fair enough about SpaceX. That's pretty much his baby as well and is undoubtedly a huge success.

But many other things he "achieved" because he only had buckets of money and bought into existing organisations.

No, he has the money to surround himself with people who can make his dreams a reality.

As above.

 

[quovadis]

Reason he tried to pull out. Couldn't, so now will make it viable at the very least or have fun trying.

Either way it's like a drop in the ocean for this guy.

A billion dollars would've been a drop in the ocean compared to what he's committed to do especially considering the leverage and securitised loans.

 

[TelkomUseless]

A billion dollars would've been a drop in the ocean compared to what he's committed to do especially considering the leverage and securitised loans.

Yea... I don't understand why he didn't just throw the billion and write it off. Now he spend x40+ times more...

I presume his ego made him do it...

 

[RonSwanson]

Yeah, watching these landings still blow my mind

https://twitter.com/i/web/status/1587446533724803072

https://twitter.com/i/web/status/1587442127214034944

Gooseflesh.

 

[sdrawk]

Yeah man. Muskiness is turning this into a company you do not want to work for and one you do not want to invest in.

Twitter is crashing and burning. So tell me how Twitter users are going to stay? Tell me how Twitter is going to survive this?

Twitter is going the way of the Blackberry, excep tBlackberry actually had a chance with its business services after the mainstream consumers left. Currently nobody wants to be Twitter's customer.

Prediction: The original founders and the board he fired along with their plucky loyal engineers will come up with something that will attract the former clients in the next few years....

 

[sdrawk]

That is a bit unfair...

He's a visionary and has the personality to drive those ideas. If not for him, we would not have had reusable rockets. Did he design implement and execute the idea himself? No, he has the vision to surround himself with people who can make his dreams a reality. It's like trying to say a very successful company isn't successful because of it's leadership. You can't have a successful business without the right leaders, so he used his money to get him the podium spot he wanted to lead companies to be world leaders....

SpaceX is by far his greatest achievement. Tesla... meh.

SpaceX has a secret weapon called Gwynne Shotwell.

I shuddered when Tesla brought out the Model X with... Falcon doors?? Then Musk unveiled the damn CYBERTRUKK and I knew this was pure ego.
At least the Roadster 2.0 and Model S look pretty awesome and Tesla itself has set the industry in the direction of electric vehicles (a good thing) but don't look too close at the build quality.

 

[m4tic]

That is a bit unfair...

He's a visionary and has the personality to drive those ideas. If not for him, we would not have had reusable rockets. Did he design implement and execute the idea himself? No, he has the vision to surround himself with people who can make his dreams a reality. It's like trying to say a very successful company isn't successful because of it's leadership. You can't have a successful business without the right leaders, so he used his money to get him the podium spot he wanted to lead companies to be world leaders....

SpaceX is by far his greatest achievement. Tesla... meh.

I disagree with your last statement on Tesla. What he managed to pull with those government grants, bypassing car dealership laws and the vision of a private supercharging network is revolutionary. The whole car industry is basically riding his wave, all of them.

 

[Paati Sooth]

So you expected him to run it into the ground due to what? He's previously massive successes that tower in comparison to anything you have done your whole life. Funny fact twitter and all big tech in US was over inflated in value. The investment wasn't needed it was quick money making schemes. The investors cached out its pay day.
Not any action he has done is driving the company to bankruptcy. Thry company drove itself there when it overstuffed because of the massive investment pool. I think it's possible Musk said this, but maybe it was the oculus guy.... but a company can have too much funding. When it has too much funding people plan big things long term with lotsa money invested into it and **** things up. Like Twitter. Twitter has many departments that has nothing to do with the business of dropping tweets.

Twitter ran themselves into the ground and lied about it.

So because none of us are billionaires, our viewpoints are irrelevant. The idea that we must all gape in awe at the rich man because he's amassed more wealth than we have is a non-argument. Who cares what my achievements are? The topic of conversation is Elon and his failings, not mine.

Twitter was probably overvalued. All tech stocks are. It wasn't running itself into the ground though. It was losing money but nowhere near talking about bankruptcy. That is only a possibility now that Elon's taken charge.

Anyways, even if Twitter lied about their status, it still proves that Elon is an absolute idiot. Because he should have uncovered those lies during due diligence... the thing that you do before you offer to pay a large sum of money to acquire something. What's that? Elon didn't do any due diligence? Wow, so smart. So whatever Twitter lied about is irrelevant. Musk didn't even bother to ask about anything for them to have lied about. He is a fool.

 

[_TrXtR_]

So because none of us are billionaires, our viewpoints are irrelevant. The idea that we must all gape in awe at the rich man because he's amassed more wealth than we have is a non-argument. Who cares what my achievements are? The topic of conversation is Elon and his failings, not mine.

Twitter was probably overvalued. All tech stocks are. It wasn't running itself into the ground though. It was losing money but nowhere near talking about bankruptcy. That is only a possibility now that Elon's taken charge.

Anyways, even if Twitter lied about their status, it still proves that Elon is an absolute idiot. Because he should have uncovered those lies during due diligence... the thing that you do before you offer to pay a large sum of money to acquire something. What's that? Elon didn't do any due diligence? Wow, so smart. So whatever Twitter lied about is irrelevant. Musk didn't even bother to ask about anything for them to have lied about. He is a fool.

I didn't say if you are not a billionaire you cannot comment. But if your going to comment adding details might be useful else it would be kinda stupid... as per original complaint by someone that just said he sucked or similar. Doesn't invalidate his opinion it just gives him no credibility. Hence Elon having more credibility than thst opinion giver. Or anyone else for thst matter that elaborates.

Didnt twitter give notifications at some point earlier this year or last year of finance troubles?
I know all big tech gave warnings.
It's possible the advertising withdrawals is why they are worried right now. If that's the case, that'll blow over probably 6 months. The woke thing is just initially followed and later dropped.
Oh and I'm not a billionaire but these are my reasoning behind my opinion. Unlike the other post thst gave just blah and no blah blah.

 

[konfab]

Yea... I don't understand why he didn't just throw the billion and write it off. Now he spend x40+ times more...

I presume his ego made him do it...

He could set fire to $40bn and he would still be the richest person on the planet

 

[PaulMurkin]

Yeah man. Muskiness is turning this into a company you do not want to work for and one you do not want to invest in.

Twitter is crashing and burning. So tell me how Twitter users are going to stay? Tell me how Twitter is going to survive this?

Twitter is going the way of the Blackberry, excep tBlackberry actually had a chance with its business services after the mainstream consumers left. Currently nobody wants to be Twitter's customer.

Prediction: The original founders and the board he fired along with their plucky loyal engineers will come up with something that will attract the former clients in the next few years....

And so what... Twatter, as I call it, has been a toxic dump that is long overdue for cancel. I don't go there. I don't actually want to go there. I have had an account there in the past, I deleted it.

So let it crash and burn, it will ensure the paedophiles and others can go peddle their crap elsewhere.

I just wish he bought Reddit first, that's an even more toxic long-drop toilet in need of being burnt in a fire.

 

[konfab]

So because none of us are billionaires, our viewpoints are irrelevant. The idea that we must all gape in awe at the rich man because he's amassed more wealth than we have is a non-argument. Who cares what my achievements are? The topic of conversation is Elon and his failings, not mine.

Twitter was probably overvalued. All tech stocks are. It wasn't running itself into the ground though. It was losing money but nowhere near talking about bankruptcy. That is only a possibility now that Elon's taken charge.

Anyways, even if Twitter lied about their status, it still proves that Elon is an absolute idiot. Because he should have uncovered those lies during due diligence... the thing that you do before you offer to pay a large sum of money to acquire something. What's that? Elon didn't do any due diligence? Wow, so smart. So whatever Twitter lied about is irrelevant. Musk didn't even bother to ask about anything for them to have lied about. He is a fool.

That is factually untrue if you check the purchase agreement he initially signed instead of getting it from a salty leftist.

 

[konfab]

And so what... Twatter, as I call it, has been a toxic dump that is long overdue for cancel. I don't go there. I don't actually want to go there. I have had an account there in the past, I deleted it.

So let it crash and burn, it will ensure the paedophiles and others can go peddle their crap elsewhere.

I just wish he bought Reddit first, that's an even more toxic long-drop toilet in need of being burnt in a fire.

Like it or not, Twitter shapes world politics. The amount of influence it has should have made it profitable a long time ago, but they were likely too busy running it like an adult daycare than making it profitable.

Twitter has never been profitable, which meant it was on a runway in one way or other. Musk is the right sort of person to get it back on track. If it needs capital, he can literally borrow it against his own stock in Tesla for cheap.

 

[Paati Sooth]

I didn't say if you are not a billionaire you cannot comment. But if your going to comment adding details might be useful else it would be kinda stupid... as per original complaint by someone that just said he sucked or similar. Doesn't invalidate his opinion it just gives him no credibility. Hence Elon having more credibility than thst opinion giver. Or anyone else for thst matter that elaborates.

Didnt twitter give notifications at some point earlier this year or last year of finance troubles?
I know all big tech gave warnings.
It's possible the advertising withdrawals is why they are worried right now. If that's the case, that'll blow over probably 6 months. The woke thing is just initially followed and later dropped.
Oh and I'm not a billionaire but these are my reasoning behind my opinion. Unlike the other post thst gave just blah and no blah blah.

Well the key point is, Elon had the chance to examine all of Twitter's supposed lies before signing on the dotted line. He chose not to. So all his arguments about bot numbers and mDAU and whatever else are entirely irrelevant. Nobody cares. They might have been made up, they might have been lies. Doesn't matter at all. Because he had the chance to dispute those figures but was more interested in posting memes on Twitter than doing actual due diligence.

If the fact that Twitter was already running themselves into the ground was apparent to a random myBB poster like you, surely it would have been clearly obvious to Elon, and then confirmed via the copious amounts of research he would have put in, before deciding to commit forty-four billion united states dollars of actual money to buying this dumpster fire? Isn't he supposed to be the most brilliant businessman in the world? Surely someone of his business acumen wouldn't do something so idiotic as that?

 

[quovadis]

Yea... I don't understand why he didn't just throw the billion and write it off. Now he spend x40+ times more...

I presume his ego made him do it...

Or he just saw the price he paid together with some changes could unlock way more value in the short term than the cost to start from scratch and hope to build the same over the medium or long term which much greater risk.

 

[Paati Sooth]

That is factually untrue if you check the purchase agreement he initially signed instead of getting it from a salty leftist.

I think the Chancery Court of Delaware would disagree with you there...