- cross-posted to:
- technology@beehaw.org
- cross-posted to:
- technology@beehaw.org
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Still seems way overpriced. Doesn’t even have name recognition anymore.
I wonder if that’s a portion of why it’s devalued so much. I mean I know there’s a dozen or more other reasons but brand recognition could very well be one of them.
Take a look at their user data over the past year with the name change date in mind.
It’s is absolutely ASTONISHING how fucking moronic and empty headed Elon Musk is. A literal idiot with all the money.
Boy are you going to have a real egg on your face whenever X becomes a successful blogging/dating/banking/investing app \s
They surely still own the twitter name right
Can any trademark lawyer in the audience tell us how long before, if Musk lets the trademark lapse, some rando could come along and make a Twitter clone while literally just calling it “Twitter?”
Meta is being told to drop the “Threads” name, it would be hilarious if they changed it to “Twitter”
People recognize it, just not as X lol
I thought it was valued at 15 billion when he bought it? Maybe that’s how much he received from the Saudis.
I don’t get that platform. I just signed up for mastodon and am not sure I’m feeling that either.
I feel like these Twitter-style sites are just …like… Keyboard warriors. It’s just smug post after smug post.
It honestly creeps me out. Like I see all these popular political posts by profile icons I recognize… But every post is just whinging…
Who are these people and why do they get popularity and even mentioned on the news as truth when their posts have no sources and are just bullshit political emotion. Then you read a news article that “Twitter is cancelling…”. All because there was one post about with someone acting like a dick.
In its ideal form, a microblog style site could literally provide an online version of a collective consciousness of society. It would be a live feed of normal people’s thoughts.
Except in reality it’s porn, smug posting, corporate advertising, vitriol, and propaganda all fueled by algorithms written to keep mofos scrolling.
It was good for two things: on the ground news, and speaking directly to businesses to resolve customer complaints.
Which Elon ruined since most businesses are abandoning it. But man at one time if you complain on twitter and tag the company in it your problem would fix pretty fast. Doubt that would work today.
Which is dumb you have to take your support request public before you get sny sort of help
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Yeah. I pretty much only used Twitter for live event updates.
Porn, smug posting, and vitriol? Sounds like collective consciousness of society to me.
You don’t get advertising or algorithmic crap on Mastodon, and they have reasonably reliable filters to hide most porn I think
Any social media that involves Followers are destined to be bin fires.
I tried mastodon, some of it is sweet, but eventually you voice a different opinion to someone with lots of followers, and get attacked by the tribe.
All depends on who you follow. If you follow people who make stuff (art, software, etc) then you’ll find your feed a lot more upbeat.
Still, on another platform (such as Lemmy) they could make more meaningful posts.
Honestly the format is good for stuff like quick business headlines and rumors that you could use if you’re trading (basically free “squawk”, given that professional squawk services cost a lot). It’s also good to quickly spread the word during protests or similar.
But I agree that all of that is still offset by the huge amount of smugness and “ratio” competitions.
Yeah that’s a fair summary. It’s brands doing announcements and ads, and people being assholes. Why would I be interested in either?
I’m with you. Lots of randoms giving their opinions on something that other randoms can show their support for? Huh… alright, I guess.
I think the whole point is that it gives media companies something to pretend is “news,” and everyone else something to be pretend-outraged over. Full stop.
To put this in perspective, they lost an average of $2B per month in value. According to HUD, there were about 582,000 homeless people in the US last year. $2B per month is enough to house all of them nearly 4 times over if you assume $1k per month in housing expenses.
What a monumental waste of resources that could have made a difference. Musk just sucks
It’s not real money, though. It’s all just speculative value based on estimates of future revenue.
The real barrier to ending homelessness is the large number of real estate vacancies that are held open to prop up the price of the housing market. Twitter’s lost value has nothing to do with that.
There is no “real” money. It’s all speculative based on what value people assign to it. For example, you may have noticed that the US dollar has become worth significantly less in recent years. Shares and fiat currency just have different volatility.
The US dollar has outpaced nearly every other global currency. Five years ago you’d get 100 yen to the dollar. Now you get 150.
But cartelization of the supply chain means we don’t get to see the benefits of low import prices. The difference all goes to business profit, while real increases in material and labor get passed on to the consumer.
Netflix buys anime for pennies on the dollar and sells it back at escalating rates. They spend less and we pay more.
The US dollar was just an example so this discussion is tangential to the point I was trying to make. That said, your argument does not support an increasing value of the dollar - it only says it has increased in value relative to other currencies. But I’m sure you know that inflation has been staggeringly high which means you get less food on the table for a dollar, and salaries have not been keeping up.
Or put in other words, if you were to invest in US dollars instead of shares then you would have seen the value of your portfolio going down, in terms of what it can get you at Costco.
That said, your argument does not support an increasing value of the dollar
Increase in exchange value means the cost of imports fall.
You’ve missed the mark on two counts:
- Musk raised $44B of real money to buy Twitter and bring it into private ownership. I’m saying had he just left well enough alone, he could have used that money for other purposes
- Your point on adding more supply to the real estate market to prop up prices is the opposite of Econ 101 - more supply, all things equal, will reduce prices. Mental health is a much larger barrier to receiving help for the homeless.
I used to volunteer weekly with homeless and housing insecure people in Philadelphia and untreated mental health or substance abuse was an issue for many. There are also barriers to receiving government aid that would assist them because many programs require an address or the process is unnecessarily complicated.
Housing is just one step. They would also require a great deal of counseling, job training, and medical attention to reintegration into society. Anyway, my point was simply to illustrate what a magnificent waste of resources it was to buy Twitter.
Musk raised $44B of real money to buy Twitter
He raised $20B by using his own (highly inflated) Tesla stock as collateral. So this wasn’t new money, it was a swap. He covered the balance with Twitter’s own equity as collateral (which is a big reason why he’s been so cavalier with its devaluation). This new money was effectively just to keep a business in the red from running out of operating income.
more supply, all things equal, will reduce prices.
Not under a cartel. And real estate markets are increasingly cartelized, with large vacancies kept off the market clearing rate in order to prop up the book value of the rest of the market.
untreated mental health or substance abuse was an issue for many. There are also barriers to receiving government aid that would assist them because many programs require an address or the process is unnecessarily complicated.
Which creates a vicious cycle, sure. But the solution is to reclaim vacant real estate from speculators and use it as real housing.
Building more investment properties and vacant luxury units to increase book value of real estate does nothing to reduce homelessness.
Housing is just one step. They would also require a great deal of counseling, job training, and medical attention to reintegration into society.
All services that are best delivered to housed populations. What’s more, they’re services with a universal application. You don’t just need to be homeless to benefit from professional counseling, education, and public health care.
But, again, sky high real estate costs make these services prohibitively expensive to expand into neighborhoods.
Delivering these services at cost requires local governments to reclaim vacant real estate kept open at above market clearance rates and turning it over to public sector service providers.
all the people that imagine their home prices are as high as they are, will fight tooth and nail to prevent this. the empty house market is crazy, just look on a “social home sharing site”. houses are hotels for the few.
As someone who sees my property tax bill jump 10% / year, I have no interest in rising real estate prices. I’m not selling any time soon and I use my house to live in rather than to invest.
Lol it’s not worth anything near that much
It’s all gonna fold once interest rates get high enough. Didn’t he borrow like 13 billion?
If only more people would move to Mastodon it could drop another 50% in value!
Please don’t put more pressure on us, we’re already telling people to do that.
Haha I’ve been trying too.
Mastodon got a shout out on the latest Some More News, which was cool.
Anything that helps demonitize Twitter is good in my opinion!
Makes sense.
Almost immediately after buying it, Elon enshittified the site - and not only that, but changed it’s branding from one of the most recognisable names/logos in the world to a fucking “X” (almost always suffixed with “formerly Twitter” so people actually remember what the fuck it is)
almost always suffixed with “formerly Twitter” so people actually remember what the fuck it is
This continues to bring me such joy.
I will never stop calling it twatter
Ditto - and I hope it angers Elon with every mention
It’s not even a unique X. The exact X they’re using as a logo already exists as a Unicode character 𝕏
Wow, that makes it even worse. Couldn’t even be bothered to pay someone to make a logo, just stole it from Unicode
WORTH 19 BILLION TO WHO??
Aquaman might go for it
I mean that’s based on what Elon said, so that’s vastly over estimated.
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…Yaccarino said that revenues grew in the high-single digit percentage…
She should start her own line of perfume. Desperation, by Linda Yaccarino.
Guaranteed to make you smell Musky.
Is it, though?
Its a digital message board on some overpriced servers.
Is this the wikipedia-argument back at him? The whole twitter post history could fit on a single hard drive, so why are people paying for it?
Considering that almost every public lib continues to use it, there is something to it, even if only the network advantage.
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I’m so tired of Musk…Can we please shoot him into the immense vacuum of space aboard one of his precious Teslas?
It actually would be pretty easy to ignore him but this place is absolutely obsessed with dissecting his every move.
The so called muskie haters are the most fanboi of him after all
Only if Trump is in the frunk.
How about all the billionaires.
Such a thing shouldn’t exist.
Transforming Twitter into an ‘everything’ app is a terrible idea. Why? Take WeChat, for example. Initially a messaging app, it now incorporates a multitude of services including short video clips similar to YouTube, Twitter-like posts (for friends only), a wallet linked to a bank card, and more. One of my Chinese friends said, ‘You won’t find anyone in China who doesn’t use WeChat because it has everything we need!’ It seems that users are quite satisfied with the services WeChat provides.
However, they may be overlooking the drawbacks of such centralized applications:
- Privacy issues: Identity verification is required; without it, most features are inaccessible.
- Censorship: I suspect that all communications are stored on a central server, with algorithms designed to detect sensitive content or keywords related to politics, NSFW material, etc. Since it’s linked to your identity, you could easily end up on a blacklist.
- Account suspension: The developer has the power to suspend accounts at any time due to the centralized nature of the system.
- Security risks: If someone gains access to your phone or passcode, they could access your money, your contacts’ information, and your personal details, since it’s an ‘everything’ app.
- Manipulation: Show those news that the country or the company want us to, hide those that are not helpful to them.
These issues and risks are inherent in centralized platforms and social media but consolidating them into an ‘everything’ app only amplifies the risks. My friend mentioned that WeChat hasn’t introduced a subscription fee yet, but Twitter and other services have.
I mean, an ‘everything’ app might be feasible in a restricted country like China, in the United States? Hell not! But, Big Tech and governments have the monopolistic power to make these things happen, so we have to find alternatives. The sooner we migrate, the sooner we can reduce the risks that I mentioned above.
The digital world is incredible, but also dangerous. It’s best that we start protecting our own privacy rights, our right to speak freely, and our right to control our own minds and discern the truth.
I’m only starting to realize now that the Fediverse kinda follows the unix philosophy of purpose-built interconnectable pieces interfacing with each other. It’s much better than the alternative of just slapping everything into one cumbersome pile.
I’m not very well versed in the Fediverse so this may be wrong.
No, you’re right. Theoretically, you could even have a single login for multiple Fediverse sites (Mastodon, Lemmy, PeerTube, etc.).
Technically speaking, I believe you could even comment on this thread via Mastodon if you wanted to since both Lemmy and Mastodon use something called the ActivityPub protocol. But the reverse isn’t true since Lemmy isn’t configured correctly to view Mastodon content.
Wow! That’s kinda insane. I don’t know if I’ve ever seen anyone do that. Perhaps it’s just invisible to outsiders, because it’s that seamlessly integrated?
You would still be able to see if someone commented from a Mastodon instance. Their username would say something like @username@mastodon.social.
Why are people writing comments with chatgpt?
Wait, what gives away that this is a ChatGPT comment?
Bullet points and tone of voice
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Pretty soon he’ll have so much control over his platform that he can practically cron kings and manipulate outcomes to fit his personal political agenda.
Huh… do kings normally consist of commands that need to be run on a regular basis at scheduled times?
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Those are all pros for Musk, he’s an ego maniac and wants all that power to be able to manipulate and control people.
Elon Musk was born on third base but tells everyone he hit a triple.
His parents literally owned slaves.
He was a white kid in South Africa. Even if he was dirt poor and born into a broken home, in he was still further ahead than most of the country. Born at least on first or second base.
He had an upbringing of privilege. Mental and physical healthcare, plenty of food, fancy trips and parties, tutors and tuition, as much money as he wanted to start businesses; dude never wanted for anything. Elon being self made is an absolute lie.
My man, Lonnie, was born on third base and managed to kick the ball into the catcher’s mitt when he tried to slide into home base.
This guy has the attention span of a circus flea, doesn’t he?
I’m high af and buying Twitter. Hate speech is lol because I feel unloved. Advertisers you go now, you damned J’s. We don’t need qualified staff for 2.0 I know how to paste code. Ok now we’re gonna make hella $ with “verified”. Shit. Ok I gotta unplug some servers and refactor. I know PHP. A child looked me in the eyes but he couldn’t see into me like I know the others do. Now we’re X for some reason. Now we’re revenue sharing. I like to lie. Now we’re subscriptions, babby. No we’re gonna facilitate financial transactions in a challenge to the banking sector now cuz they got my nuts in a fukkin’ vice here Linda!
Seems like the buyer was very dumb
He still is and will probably always be
I don’t think you can recover from being that dumb.
That guy definitely can’t. His stupidity seems to get worse with every single day.
