• mipadaitu@lemmy.world
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    2 months ago

    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.

    • nova_ad_vitum@lemmy.ca
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      2 months ago

      The fact that this tweet caused their stock price to dive really shows what a joke the stock market is .

  • Churbleyimyam@lemm.ee
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    2 months ago

    This a beautiful story. Bankers get shafted lending money to apex capitalist.

    🤌

    • TJA!@sh.itjust.works
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      2 months ago

      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

    • Blue_Morpho@lemmy.world
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      2 months ago

      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.

      • CaptainPedantic@lemmy.world
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        2 months ago

        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.

        • Scipitie@lemmy.dbzer0.com
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          2 months ago

          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?

  • BigMacHole@lemm.ee
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    2 months ago

    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!

  • spyd3r@sh.itjust.works
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    2 months ago

    Watching Twitter die the slow agonizing cancerous death it deserves makes me all warm and fuzzy inside.

  • Cocodapuf@lemmy.world
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    2 months ago

    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.

    • Todd Bonzalez@lemm.ee
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      2 months ago

      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.

      • trolololol@lemmy.world
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        2 months ago

        “own capital” probably more like stocks from Tesla, I doubt any actual money moved

        • Todd Bonzalez@lemm.ee
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          2 months ago

          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.

          • trolololol@lemmy.world
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            2 months ago

            Well now that you mention it I agree and feel dumb.

            Anyways, I’m still right so it means I can double down.

      • Cocodapuf@lemmy.world
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        2 months ago

        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.

    • masquenox@lemmy.world
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      2 months ago

      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.