Elon Musk cuts Twitter employee benefits as he warns of bankruptcy

[Vrotappel]

This guy's a joke.

"Employees should brace for 80-hour work weeks."

No thanks I'll just leave.

“If you don’t want to come, resignation accepted,”

Oh well we already covered that above, but yeah definitely I'll just leave.

SpaceX and Tesla was not built with employees like you. Don't worry, many companies will settle with mediocre employees.

 

[Vrotappel]

Given Musk's apparent personality I suspect it is really more about control. He likes to impose his will on others. I doubt he'd care even if there was clear data showing improved productivity and higher profits from remote working.

I would like to see the clear data. Remote working works for some workers and utterly fails for others.

 

[Vrotappel]

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 guess you don't like him... The guy that gave us SpeceX.

 

[Willie Trombone]

Given Musk's apparent personality I suspect it is really more about control. He likes to impose his will on others. I doubt he'd care even if there was clear data showing improved productivity and higher profits from remote working.

Agree. It's probably just an ego move. Middle finger to the Twitter C-suite who fobbed him off.

 

[Willie Trombone]

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 think you've just misunderstood his motivation. He does things because he can a lot of the time IMO.

 

[Gimli_]

Musk would fail miserably at politics.

That is speculation... What is a fact though is the ANC have failed miserably at governing.

 

[J&B]

That is speculation... What is a fact though is the ANC have failed miserably at governing.

ANC has failed at everything that is honest or demands a shred of integrity.

ANC are specialists of stealing, corruption, bribery and collusion.

That is why South Africa is not far away from yet another African basket case under black majority rule.

What useless ****s they are

 

[zulucat]

Buy a perfectly profitable company. Fork it up…

 

[RedViking]

Buy a perfectly profitable company.

Really? And you got this info where?

Twitter was in massive trouble. Reason why they were so desperate to sell it.

 

[RedViking]

ANC has failed at everything that is honest or demands a shred of integrity.

ANC are specialists of stealing, corruption, bribery and collusion.

That is why South Africa is not far away from yet another African basket case under black majority rule.

What useless ****s they are

Did you remember to tweet it?

 

[Pegasus]

Buy a perfectly profitable company. Fork it up…

He didn’t buy it. He is African American, so they gave it to him to be BEE compliant.

 

[_TrXtR_]

but was more interested in posting memes on Twitter than doing actual due diligence.

Lol you lost my respect there hahaha.
Tldr is that a child.

 

[_TrXtR_]

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?

Twitter is not run into the ground. And it's not gone yet.
So maybe hold your opinion for a year till it is actually run into the ground. Your whole SA is based on a fact that hasn't happened yet.
So hold that thought darling.

 

[B-1]

I think he's done massive damage to his reputation. Getting into petty fights, making random decisions and then backtracking, making huge sweeping changes with little investigation or care for the repercussions. These are not things people look for in leadership.

 

[BlackStatic]

If you look at most of Musk's "achievements", they're not that impressive compared to what many other people have achieved.

Basically, he sold his share of PayPal for a **** ton of cash. He then bought into various other companies. It's not like he's Nikola Tesla or Albert Einstein. The dude basically bought a bunch of companies with Nikola Teslas and Albert Einsteins.

Jeff Bezos basically had the vision to build Amazon from the ground up. Gates did the same with Microsoft. John Carmack built one of the world's most successful game studios, and has then worked on everything from rockets to AI.

Everything since PayPal isn't really an achievement for Musk.

Wow! Never realized it was that simple, that explains why 7 out of 10 people are Billionaires, learn so much on this forum.

 

[Markd]

Ok. That’s an interesting strategy. Doing nothing when your business environment changes drastically.
I don’t think Michael Porter covered that one.

what are you going to do? Sell when you're massively down? That's short-term thinking and makes no longer term sense. From a pension/investment perspective, you shouldnt do anything (imo). The people running said companies will obviously have to adjust to the prevailing circumstances. I use times like this when things are heading down and everyone is scared to find good deals and buy.

 

[Pegasus]

what are you going to do? Sell when you're massively down? That's short-term thinking and makes no longer term sense. From a pension/investment perspective, you shouldnt do anything (imo). The people running said companies will obviously have to adjust to the prevailing circumstances. I use times like this when things are heading down and everyone is scared to find good deals and buy.

When you income is lower than your expenses and it looks like it will stay that way for the foreseeable future, you could recapitalize, restructure, lower expenses or increase income.

Doing nothing is usually a bad idea, unless you think it is very short term and you have enough resources to ride it out. Then hopefully make up for it in the future.

 

[Galactica]

This guy's a joke.

"Employees should brace for 80-hour work weeks."

No thanks I'll just leave.

“If you don’t want to come, resignation accepted,”

Oh well we already covered that above, but yeah definitely I'll just leave.

He's a megalomaniac who's singlehandedly destroying the platform. His money

 

[Galactica]

He actually told Tesla employees the same a while back. It is an Elon Musk policy.

He was full of praise for Tesla China workers for doing 12-hour shifts six days a week and slammed Tesla US workers for slacking.

 

[Galactica]

I think he's done massive damage to his reputation. Getting into petty fights, making random decisions and then backtracking, making huge sweeping changes with little investigation or care for the repercussions. These are not things people look for in leadership.

Trumpish