Originally published at: Twitter's value in freefall: Fidelity cuts estimate by whopping 79% - Boing Boing
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I’m sure Elon will be throwing a public tantrum over this in that same Nazi bar.
I also wonder if this is a prelude to the Bonesaw clan calling in their collateral and taking Tesla away from Musk.
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If he wants to do that he’d better get a move in before Elon drives down the valuation of Tesla too much as well…
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Still at 9.4 billion? How much of that is goodwill?
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Yeah, that would be overly generous since he also directly destroyed the original brand name (even if a lot of people still call it “Twitter”).
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yeah, i would value it at maybe 100 bucks.
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I’m guessing less “goodwill” and more “wishful thinking”.
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Goodwill is basically an accounting term for “wishful thinking”.
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Yeah, they’re about two orders of magnitude too high still. Best of luck to everyone involved, except not really I hope they all lose everything.
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Not like this will stop him; but this situation seems like particularly poor material for a persecution and/or conspiracy take.
You’ve got a big institutional investor taking a significant write down on a bad investment; but a very small investment in absolute and percentage terms.
All the negative implications of some Fidelity finance dudes who certainly prefer to be reporting brilliant success admitting that it was a bust; but the writedown is only on $20 million, so it seems implausible as part of a scheme to devalue the company in order to take a controlling share more cheaply or some similar major player move.
No reason to expect the facts to get in the way of a manic story dribbling out in late night tweets; but not very helpful facts.
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Seems too classy. Needs to be downgraded some more:
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Only 78%?
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Who is still advertising on X? It ought to be duking it out for last place with Truth Social. Every journalist that I’ve read on this topic has complained that although they have thousands of followers, no one is seeing their tweets, and the aren’t seeing people they follow either. I guess when Elon owns your eyeballs, you only get to see what he wants you to see. Hello, X users, it’s time to move on.
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spacex and teslax presumably
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That’s written like AI slop doing an impersonation of the kind of ad you’d see on Twitter. There’s actual currency exchanging hands to post that on Musk’s website?
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