Twitter's plan for two verification badges

[konfab]

Elon didn't grow up rich. He was better off than most but by no means like Trump who got 100mil startup capital from his dad.
He is actually smart and is business smart as well which is why he has done well.
I don't necessarily agree will all the decisions he has made but the guy knows how to run a business. He has run numerous businesses very well.

I think Twitter was an ego purchase though and could be to his downfall.

My brother in Christ.... Musk of all people can afford an ego purchase.

Lets look at Musk's net worth:
Musk's net worth: $203bn

Next richest guy:
Bernard Arnault
Net worth: $138 billion

https://www.investopedia.com/articles/investing/012715/5-richest-people-world.asp

In other words, Musk could lose every single cent he put into Twitter and he would still be the richest person in the world

 

[Nerfherder]

My brother in Christ.... Musk of all people can afford an ego purchase.

Lets look at Musk's net worth:
Musk's net worth: $203bn

Next richest guy:
Bernard Arnault
Net worth: $138 billion

https://www.investopedia.com/articles/investing/012715/5-richest-people-world.asp

In other words, Musk could lose every single cent he put into Twitter and he would still be the richest person in the world

Christ means very little to me BTW.

Elon has a lot of money is not "real". It sits in the value of companies that are being propped up by investors.
Just by trying to access that money he could devalue it. Its potential value.

He bought Twitter with (mostly) other peoples money. It will be great if it works out but not looking like it currently.

 

[PsyWulf]

Elon has no clue what to do with Twitter now that he bought it

Elon's like my cat the first time he caught a bird

He's been taunting for ages,finally got it,and now he can't decide between biting it to death,playing with it or leaving it in my shoes as a squishy surprise

 

[konfab]

Christ means very little to me BTW.

Elon has a lot of money is not "real". It sits in the value of companies that are being propped up by investors.
Just by trying to access that money he could devalue it. Its potential value.

He bought Twitter with (mostly) other peoples money. It will be great if it works out but not looking like it currently.

Bruh, that is literally the best place to keep money. Do you think squirrelling away it in a bank account whilst it depreciates is a sound way to store your wealth?

 

[Paati Sooth]

He is actually smart and is business smart as well which is why he has done well.

elon: "if someone wants to make a million bot accounts, well, wouldn't a state actor have $8 million? well, yes. but here's the problem. they don't have a million credit cards, and they don't have a million phones. thats the actual kicker. there's no way to overcome that."

(man built a payment platform that merged into Paypal and hasn't heard of virtual credit cards)

IAB guy: "we have 700+ brands and what they're interested in is 5 things. scale, relevance, brand safety and suitability, ability to measure bottom line, and ability to have a creative canvas. of those five things, where is twitter today and where are you going to spend your time in the future?"

elon: "we're probably not great at any of them. maybe ok at some. we're really terrible at relevance"

(man is trying to reassure advertisers by telling them that all of the ads they've already paid for over the past few years were pretty much never delivered at the intended audience... but absolutely please give us more money even though we are terrible at all of the 5 core things you care about)

elon: "well, its just. there's. when i hear brand safety, what i hear is, i think i'm hearing is, we need to make sure the brand is protected reputationally. with, you know, short term and long term factors. how do we drive sales in the short term but not with something in the long term, that will hurt our reputation. so, we have to, you know, long term and short."

interviewer: *3 second pause* "...right"

(man spends a lot of time saying absolutely nothing)

interviewer: talk about something exciting to you from a product perspective

elon: "when someone becomes blue verified, they can download 10 minutes of high def video. it will be expanded to 42 minutes soon and then several hours as we sort of fix a bunch of stuff on the backend architecture. theres a lot of architectural changes we need to do to support videos. but we need to do backend upgrades. we also need to enable monetization of content at a rate that is competitive. then people will post their content on twitter because why not? i don't know. seems like a no-brainer.

and then the paid verification system. these people are verified, on the payment system. and you have a balance on your account and you want to send it on twitter, if they're verified, and you want, you want to send money. they can do that. you can send it to twitter or to a bank account. or you can have an extremely high yield money market savings account and then put that money back into twitter. the more useful and the more entertaining it is, the more people will use it."

(man just fired most of the people who would be able to make those changes, and has also issued a directive to cut infrastructure costs by $1b/m but somehow also wants to use that reduced infrastructure to deliver 10x the amount of content)
(man also has no clue about how to keep his platform sustainable since its bleeding both advertisers and users, but definitely has a plan to turn twitter into a bank-not-a-bank and create "high yield" savings accounts... i can guarantee that somewhere there's a bunch of people sleeping in their offices right now tasked with figuring out how they can actually offer this high yield savings account that elon just made up during the interview)

Business smart, absolutely - he has the gift of being able to convince a large number of people to give him large amounts of money for products that may or may not be delivered.
Actual smart, well... an actual smart person would have these plans laid out since before making a weed-based offer to buy out a company, rather than making up random ideas on the spur of the moment and then killing them hours after they've been delivered.

 

[r00igev@@r]

I think he should have carried in a toilet and not a kitchen sink.

 

[Paati Sooth]

Bruh, that is literally the best place to keep money. Do you think squirrelling away it in a bank account whilst it depreciates is a sound way to store your wealth?

Except Tesla is down about 50% since last year...

 

[Adenoid Hynkel]

Love these Elon worshippers vs Elon conman posts. Very entertaining.

Even if he runs twatter in the ground, I'll still sleep like a baby. Zero Fs given.

 

[Nerfherder]

(man built a payment platform that merged into Paypal and hasn't heard of virtual credit cards)



(man is trying to reassure advertisers by telling them that all of the ads they've already paid for over the past few years were pretty much never delivered at the intended audience... but absolutely please give us more money even though we are terrible at all of the 5 core things you care about)



(man spends a lot of time saying absolutely nothing)



(man just fired most of the people who would be able to make those changes, and has also issued a directive to cut infrastructure costs by $1b/m but somehow also wants to use that reduced infrastructure to deliver 10x the amount of content)
(man also has no clue about how to keep his platform sustainable since its bleeding both advertisers and users, but definitely has a plan to turn twitter into a bank-not-a-bank and create "high yield" savings accounts... i can guarantee that somewhere there's a bunch of people sleeping in their offices right now tasked with figuring out how they can actually offer this high yield savings account that elon just made up during the interview)

Business smart, absolutely - he has the gift of being able to convince a large number of people to give him large amounts of money for products that may or may not be delivered.
Actual smart, well... an actual smart person would have these plans laid out since before making a weed-based offer to buy out a company, rather than making up random ideas on the spur of the moment and then killing them hours after they've been delivered.

Yes, like I said I have no clue why he bought Twitter or what his real intention is with it. Personally I think its all gone to his head and is affected his judgement.
If this fails it will be his first real failure (i'm sure there have been many smaller ones)

As for the sacking of all those people - this was done terribly and I don't know how he expected it to work. I can only guess that was trying to make it look like he was going to shake things up and be the big man in charge (ego again).
Even though he did it badly, most of those job losses would have happened anyway. Twitter was bloated and needed a clean out, he should have waited 6 months and done it more cautiously.

 

[Nerfherder]

Love these Elon worshippers vs Elon conman posts. Very entertaining.

Even if he runs twatter in the ground, I'll still sleep like a baby. Zero Fs given.

I hope I'm neither... somewhere in-between.
But I have to agree - if Twitter died tomorrow the world would be a better palce.

 

[Pegasus]

He had absolutely no intention of buying it, the whole offer thing was just for attention and for his own amusement... then when Twitter called his bluff and actually agreed to be bought, he started making up excuses to try and get out of it.
He spent months arguing that twitter's mDAU is an invalid metric, and yesterday tweets out a graph showing an increased mDAU as if it's now suddenly a trustworthy metric.
He's fired half the staff, and now they're begging staff to come back because obviously there was no thought behind who's being let go. He's launched a feature and then canned the feature within hours.
The man has no clue about what to do now that he owns it, he's just throwing crap at the wall to see what sticks, except he's had almost 6 months to come up with actual plans to put in place but he spent all of that time arguing about why he should be able to get out of a contract that he signed, based on information he would have gotten during the due diligence that he never performed.
So this idea of him being a genius is a myth. He grew up rich, and used his wealth to buy his way into opportunities which he then sold.
This twitter exercise has exposed him to be just another regular moron like me... it's really puzzling that after all of the idiotic moves he's made and continues to make every single day, that people still hero-worship him

Yeah, and the other $11 billion from Jack Dorsey and the Middle east were in on the gag right?

And all these texts were faked right?

https://www.washingtonpost.com/technology/2022/09/30/elon-musk-texts-twitter/

And Meta laying off staff as well means Zuck is in on it too right?

 

[Paati Sooth]

Yeah, and the other $11 billion from Jack Dorsey and the Middle east were in on the gag right?

And all these texts were faked right?

https://www.washingtonpost.com/technology/2022/09/30/elon-musk-texts-twitter/

And Meta laying off staff as well means Zuck is in on it too right?

Elon claims to want to build a platform for free speech... when you think of proponents of free speech, does the Saudi bonesaw crew sit at the top of your list? Or do you think the Saudis invested their billions to buy access to private data to decide where to send their bonesaw crew to next?

If you read those texts, you'd also see how much insight the other investors have into Elons plans:

April 20, 2022
Elon Musk:
Any interest in participating in the Twitter deal?
Larry Ellison, founder of Oracle:
Yes...of course [thumbs up emoji]
Elon Musk:
Roughly what dollar size? Not holding you to anything, but the deal is oversubscribed, so I have to reduce or kick out some participants.
Larry Ellison:
A billion...or whatever you recommend
Elon Musk:
Whatever works for you. I’d recommend maybe $2B or more. This has very high potential and I’d rather have you than anyone else
Larry Ellison:
I agree that it has huge potential... and it would be lots of fun
Elon Musk:
Absolutely

I admit I am a bit envious here, that I am not in a position to just agree to give Elon a billion dollars or two on the basis of him just asking me for it over a text message. But it also shows that none of the other investors have any sort of insight into what Elon's plans for Twitter were either, they just have so much money oozing out of their ears that they can afford to just flush it down the sink that Elon carried into the Twitter offices and not even notice that it was gone.

Hell Binance invested $500m and their CEO just said a few days ago that he expects 90% of Elon's plans to be utter trash, so either Binance believes so strongly in the remaining 10% that they were willing to stake $500m in a 10% chance of success, or they invested while having absolutely no idea what Elon's plans were after buying Twitter out.

 

[Fulcrum29]

Hell Binance invested $500m and their CEO just said a few days ago that he expects 90% of Elon's plans to be utter trash, so either Binance believes so strongly in the remaining 10% that they were willing to stake $500m in a 10% chance of success, or they invested while having absolutely no idea what Elon's plans were after buying Twitter out.

That is not what CZ said, people hear what they want to hear.

 

[Hamster]

But it's a blue flower

 

[stefan9]

What exactly does that entail?

You have privledged of helping musk pay for his boo boo mistake.

 

[Vorastra]

Second badge is back.

 

[Paati Sooth]

That is not what CZ said, people hear what they want to hear.

“Not all [new features] will stick. I would actually say probably the majority of them will not stick,” he said.
“But that’s how you figure out the rest of the 10% of the features that will stick: by defining a lot of new features.”

Musk, though, is seemingly not looping his main investors into his master plan, and CZ says he trusts the Tesla CEO to make the right calls.


“Musk is a hard guy to predict,” he added.
“I heard about the blue tick for a while, but I learned about the $8 thing at the same time you did. Anything that can reduce the bots on Twitter is fantastic.”

So he didn't say the actual words 'I predict that 90% of Elon's ideas will be utter trash', he rather said 'I expect a lot of his ideas are not going to work but the remaining 10% should work'. Which implies that he expects 90% of the ideas to not work.

He also literally said that he heard about the $8 subscription along with everyone else, proving that he invested without knowing Elon's plans up-front, which is exactly what I said. His investors don't know his plans because he's making them up on the spot based on some random tweet that popped up in his feed which he felt the need to respond to.

This is the guy who launched the second-level verification tick, had his office-sleeping PM write up a post about how it works, then tweet a few hours later 'I killed it, $8 is the great equalizer for everyone', and this morning, the second verification IS BACK AGAIN, because his brilliant idea that people aren't going to risk losing $8 to impersonate someone else has proven to be utter trash, because almost everyone who has a blue tick right now is impersonating an official account, either to mock him or to run crypto scams, proving what everyone other than Elon said - the $8 verification system is going to do nothing whatsoever to combat spam.

 

[PaulMurkin]

The scammers have always used stolen credit cards to pay for things... so they will use the same (and other methods they use) to pay for a blue tick to continue spamming/scamming. Sadly I must concede that there's no real improvement at Twatter

 

[PsyWulf]

The scammers have always used stolen credit cards to pay for things... so they will use the same (and other methods they use) to pay for a blue tick to continue spamming/scamming. Sadly I must concede that there's no real improvement at Twatter

Lol,you mention this
There's a verified white badge "Twitter" account, with an unrelated @ advertising claimable blue badges if you link your cryptowallet on some random webpage,and half the comments don't realize it's a scam

 

[greg0205]

Things going super well...

https://twitter.com/i/web/status/1590810627601498112

https://twitter.com/i/web/status/1590810842693799936

https://twitter.com/i/web/status/1590820573932052480

https://twitter.com/i/web/status/1590829623876915200