• whereisk@lemmy.world
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    1 year ago

    “That’s according to a Monday report from The Wall Street Journal. Given Musk purchased Twitter for $44 billion late last year, the markdown would put the company’s current valuation at about $23 billion, based on Ark’s estimate.”

    $23b is what it was actually valued before Musk crazily overpaid for it and took over.

    Now, that estimate comes from an investor that financed part of that purchase (so they’re already suspect for paying double the odds back then) that still thinks there’s a great future ahead for Twitter under Musk - so it’s wildly optimistic.

    The real value you could find someone paying for it would be more likely in the mid single digits.

    • InverseParallax@lemmy.world
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      1 year ago

      It’s worth about $6b, this is not a good time for a social media company built around ad revenue that’s hemorrhaging customers and also happens to be saddled to the brim with short-term debt.

      This whole comment should be bankrupt.

      • FoxBJK@midwest.social
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        1 year ago

        Let’s also remember that in all of Twitter’s years of operation they only had a couple quarters where they actually turned a profit. Even after Trump made it ‘the place to see whatever the President was talking about’, they still struggled to make money.

        Elon thinks he can fix that, but the real fools are the investors who believed him.

        • InverseParallax@lemmy.world
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          1 year ago

          He doesn’t, he was smoking like crazy for a while, it’s a whole story, basically he smoked himself stupid during covid and only quit a few months ago.

          He said a bunch of stupid shit when he was high because he thought he was beyond any and all question, and this is one thing he got caught on because it had a material effect on a publicly traded company.

          I’d feel bad for him if he wasn’t such a complete moron who let the paranoia get the better of him.

        • T156@lemmy.world
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          1 year ago

          Let’s also remember that in all of Twitter’s years of operation they only had a couple quarters where they actually turned a profit

          And if memory serves, some of their most profitable quarters were during the lockdowns, which don’t exactly happen regularly.

      • T156@lemmy.world
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        1 year ago

        ad revenue that’s hemorrhaging customers

        It’s also haemorrhaging ad revenue, since Musk recently stated that ad volumes were down 50% or so.

        • Saneless@lemmy.world
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          1 year ago

          Twitter ad buys were junk when it was considered a good site. I can’t imagine how poorly it’s doing since the users are largely bluetlicker shitstains

      • jscummy@sh.itjust.works
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        1 year ago

        Is there ever a good time for that type of company? Hemorrhaging customers and being saddled to the brim with debt seem like pretty big problems at any time