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.
It does, until you realise that his monstrous wealth insulates him from any consequences, deflecting them onto the heads of mortals. No matter what he does, he’ll be alright.
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
Oh yes, they are. Every content creator that’s still on Twitter for some reason complains about how engagement is way down. Many are considering leaving Twitter, if they haven’t already. Of course, some groups still remain for now, but it’s just a matter of time until everyone who isn’t a full on Nazi has left that pile of garbage.
The fact that this tweet caused their stock price to dive really shows what a joke the stock market is .
please just put the interesting part in the title.
This a beautiful story. Bankers get shafted lending money to apex capitalist.
🤌
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.
It’s because when banks make loans, they sell of the debt, but nobody has wanted to buy the debt for Musk’s loans. My understanding of this is essentially, if someone takes out a loan of $100 million, the bank will sell that debt to an investor for $101 million, and the investor will make back $102 million once the loan is paid off due to interest. But no investors are confident enough that Musk will pay back his loan so no one is ponying up the dough to buy it.
That’s easy, just give him a AAA credit rating and call it a bond, some pension fund will buy it.
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 great, I added all the numbers in your comment together and now it’s $101 billion?? When will this madness end???
“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.
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.
Oh ok, well that’s a relief. I’m glad we had you and your crystal ball handy!
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.
Probably avocado
He’d patent avocado genetics and call them “xavocados.”
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!
