this post was submitted on 30 Sep 2024
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"Fidelity is currently valuing X at about $9.4 billion"

I found this funny.

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[–] [email protected] 267 points 2 months ago (6 children)

Honestly terrifying that they still think it is worth that much.

[–] [email protected] 115 points 2 months ago (2 children)

they still own the twitter trademark, that might be their biggest asset

[–] [email protected] 51 points 2 months ago (1 children)

Since they don't seem to care about it, start using "tweet" for every social media post to devalue them further.

[–] [email protected] 54 points 2 months ago* (last edited 2 months ago)

Tweets are a specific type of a microblog post you do on twitters. Have you tried tweeting, make your own twitter at https://joinmastodon.org/ today!

[–] [email protected] 9 points 2 months ago

Which has been crashed and burned to a fraction of its value.

[–] [email protected] 62 points 2 months ago (2 children)

If someone were to buy it, ban the Nazis and get advertisers to come back it's still salvageable, I guess. The longer Musk owns it, the bigger the chance is that it'll become the next MySpace.

[–] [email protected] 14 points 2 months ago (1 children)

At least the MySpace guy was able to run a fun site, cash out before social media became crazy, and spend the rest of his life having fun with that money.

Trump will lose, and Musk will be holding on to a useless site that serves nothing. He'll probably sell for a fraction of what he paid (not that it was his money in the first place), but by that point it'll be too late. Twitter will be long dead.

[–] [email protected] 4 points 2 months ago (1 children)

I doubt the saudis will be very happy if Musk doesn’t repay them their investment. I’m surprised they haven’t threatened him into stepping down and handing their investment to someone who can properly manage a social media platform already

[–] [email protected] 4 points 2 months ago

That'll probably be what happens if Trump loses. Musk didn't spend "his" money so it's no loss, and many from the Middle East have wanted control of Twitter ever since the Arab Spring.

[–] [email protected] 10 points 2 months ago

I think MySpace is a more likely scenario that the former already.

[–] [email protected] 3 points 2 months ago

I wouldn't be surprised if part of this remaining value is because the Japanese internet still heavily relies on it as a platform, even if the west has begun moving elsewhere.

[–] [email protected] 2 points 2 months ago

I was going to say that they could have stopped the headline at "quarter" as far as I'm concerned.

[–] [email protected] -2 points 2 months ago (2 children)

This is the stock market, the value is set by what investors think the value could be. Mostly, they're probably assuming people would come back if he sold it. Literally everyone knows the name Twitter.

[–] [email protected] 21 points 2 months ago (1 children)

This actually isn't the stock market, Twitter isn't publicly traded since being bought.

[–] [email protected] 3 points 2 months ago (1 children)

Just because it's not publicly traded, doesn't mean that there isn't stock nor that there's no market. Usually, you can technically still buy/sell the stock, just not as a random member of the public on a public stock exchange like the NYSE or FTSE.

[–] [email protected] 2 points 2 months ago

There's usually defined periods for sales as well. Gives employees and other stock holders a way to cash out and get new investors in.

[–] [email protected] 3 points 2 months ago

I understand the basics. I still find it difficult to grasp why it is worth 9 billion.