It was the paid blue checkmark for $8 back in 2022.
Kinda old article info without much current stuff except the lawsuit against the ad trade group.
Still makes me gleeful reading about his stupidity.
Savedyouaclick
Thank you!
And that’s why I never click. At this point getting Rick rolled would be fresher news.
That’s the kind we all come to expect🙄🤣🤣🤣🤣
please just put the interesting part in the title.
But then there would be no title.
explain exactly what you mean.
*guys I’m not being facetious I don’t understand
The fact that this tweet caused their stock price to dive really shows what a joke the stock market is .
This a beautiful story. Bankers get shafted lending money to apex capitalist.
🤌
Some days ago I read an article here that said that a lot of the money came from Russia and that they are getting exactly what they wanted: chaos
No one has ever explained how bankers are losing. They say they’ve lost money. Yet the only details are Musk has to make payments and put up Tesla stock as collateral. That a no lose for the banks. They don’t care if Tesla stock crashes, they are making money from selling it.
If Tesla’s stock crashes, then the value the banks could get from selling it is much lower.
If Twitter and Tesla go bankrupt, the banks will have loaned out billions to own something worthless.
At least I would assume that’s how it works.
The bankruptcy scenario is correct but the first part isn’t: you don’t have X shares as collateral that you can liquidate. Instead, you have collateral to cover sum Y.
As long as the collateral contract covers enough stock positions the bank won’t lose.
That said all of this is assuming standard contracts. If y bank wrote “0% interest and instead 50% of the revenue growth of Twitter” then this would be an easy way to lose money.
Haven’t heard of a stupid banker yet, though, so what would the chances be?
Ah! Thank you for the explanation
Careful there, bud, you’re singing the siren song of bank bailouts.
I’m GLAD we don’t tax Billionaires like Musk! Imagine if instead of buying a Website for $44BILLION he instead bought kids $44BILLION worth of School Lunch! The HORROR!
Watching Twitter die the slow agonizing cancerous death it deserves makes me all warm and fuzzy inside.
Is it dying though? It is getting worse and worse but I don’t think people are leaving in huge numbers
Ugh… it drives me nuts!
Musk had to borrow around $13 billion for his doomed $44 billion acquisition.
Had he spent that
$57$44 billion on developing space hardware instead of going insane and squandering it on social media bullshit, he might have done something worthwhile. I mean… fifty seven billion! What even is that much money? He could have had his own space station for that much money! He could fly up there for weekends, just for funzies.That $13 billion is part of the $44 billion, you don’t add them together.
He spent $31 billion of his own capital, and borrowed $13 billion to cover the rest.
Oh thank you, my mistake. Still the numbers are huge!
“own capital” probably more like stocks from Tesla, I doubt any actual money moved
That’s why I used the word “capital” instead of “money”, but I had a feeling someone still was going to deliberately misunderstand me to try to sound smart.
Well now that you mention it I agree and feel dumb.
Anyways, I’m still right so it means I can double down.
Why didn’t he just spend his own billions to prop up his venture? Oh, because he doesn’t want to pay taxes.
I do English, but your math is wrong
Haha everyone keeps saying that! But it’s pretty funny how wrong everyone is about where the mistake was.
The math is just fine, I did the simple addition correctly. It’s the reading comprehension that I got wrong, I misunderstood what the sentence was saying.
he might have done something worthwhile
No, he wouldn’t have. Musk is an incompetent billionaire parasite, even more incompetent than the average billionaire parasite, and would have simply squandered his ill-gotten money on something else.
Probably avocado
He’d patent avocado genetics and call them “xavocados.”
Oh ok, well that’s a relief. I’m glad we had you and your crystal ball handy!
Take your lithium
I see your lithium and inflame it.
crystal ball
The nature of capitalism and the capitalist class haven’t been a secret now for more than a hundred years. No crystal balls required.
