From what I see of the tech job market, it’s still a seller’s market for labour. It stinks that Musk is using the employees this way and it will be disruptive if they get fired or laid off but I’m hoping most of them will quickly find work elsewhere if he follows through on this threat.
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Oops - I lost my financing!
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I mean it carries weight in the sense that it’s more than expected, but honestly, my friends who work at twitter have been warning people away from working there for years, most of them are holding out for the exit packages. They’ve been on a hiring freeze for a long while.
I’m not saying that Elon’s a good guy, I’m saying this was going to happen to twitter regardless because it’s a bezzle, and people should know it by now.
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lol at the difference being $4.20
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They always complain, until it’s 50 thousand of their followers that are vaporized.
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You’re right, but it’s a bezzle as in embezzle 
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You’re right, I’ve just seen this spelled so many ways, even by Cory. But I found the original “uber is a bezzle” article, and you could basically play mad-libs and throw twitter in there for the same , and he spelled it bezzle there. We’re at the “everyone’s cashing out who can” point of the game with twitter. They got Elon to massively overpay. Now he’s going to have all the debt and costs, and the only way out of that likely is exactly what he’s said. He’ll probably still lose money with 75% labor cut, too.
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Except that’s not really true. From looking at the actual numbers, Twitter’s gross profit is positive, although it’s diminished for the past few years. Its net revenue is negative, but it was positive in 2020.
So that argument doesn’t hold up weight. Now, whether Twitter’s outlook is profitable is a real question. But it’s NOT been a “money loser for years”, at least from an operating view.
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You need to look at their net income, their EBITDA, and their EPS. Like uber, twitter plays games with their funding with regards to CAPEX vs OPEX to make their profits appear larger by considering their employees CAPEX. Their total liabilities exceeds their cash on hand and their net. They’re failing.
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Maybe he’s trading continued Starlink for this?
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Either that or the Biden admin is playing 5d chess against the guy
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they are. they use contractors for most of their moderation. my understanding is musk already said he wants to end that too
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Opinion:
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The net income and EBITDA are on that link I sent, and they were positive in 2020. So again, to say that they’ve been losing money for years is a false statement.
You can say their outlook is tough, and I agree with that, but its not like they’re Sears.
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No, but I suspect that those folks would have a much easier time finding new employment in general. Their skill set is generally in high demand in a pretty well-paying sector of the economy.
I do agree that social media has had some upsides. But it’s also been a primary conduit for the radicalization of millions of people. That’s in large part due to platforms refusing to do any sort of real moderation. I know it’s difficult to do so, the I think that if anything, the BBS has shown that good moderation is not only possible, but necessary for ensuring a smooth running community. They made a choice in these companies to prioritize “freeze peach” over common sense moderation, and we’ve all paid heavily for that price.
Maybe so, but in this case, we’re talking about a form of media that is incredibly young and that the vast majority of us have lived most of our lives without (meaning the people online who are boomers or gen Xers). This isn’t the same thing as burning down a state or the like which is more entrenched in people’s lives. Whether or not something should be burned down I’d argue should be on a case by case basis. Let’s take states since that’s often one example people bring up. I’d say that burning down nazi germany was worth the cost (which is enormously high for the allies as well as Axis). It was such a stain on humanity that it had to go… But burning down Yugoslavia was not worth it and things are in a much worst state then it was prior to its bloody dissolution.
I think we all agree there!
I would love a public option for social media. I’ve said that for years. But we’re not going to get that as long as corporations dominate the landscape. They will not stand for it.
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And since this statement was made to investors in order to attract investment, if he follows through with the purchase, then doesn’t follow through with the layoffs (because Twitter would immediatley stop functioning if he did), the the SEC can once again go after him for securities fraud.
Wanna bet (given it’s Musk) that there’s documentation that he made the statement knowing he has no intention of actually doing this?
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Outside of your twitter bubble, the bird and FB are the primary sources for anti-science misinformation and the far edge of neonazi hate propaganda.
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I plan to fire most of the spirits of the vasty deep when I take over.
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Of course he’s full of shit on this, too. He’s trying to get Twitter employees and everyone else to fight the acquisition for him, since he’s a dumbass who signed an idiotic deal.
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I still think this isn’t him trying to get out of the deal, it’s more his incredible fear that he’s NOT going to get out of it , and that to convince others to come in to it with him, he’s got to show they’re not going to be bleeding money from day 0. This is what it’ll take for anyone sane to invest money in twitter at this point… and I don’t mean the stocks, I mean actual investing and being paid only from the P&L sheets if there’s money at the end.
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