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Charlz Guybon posted:
You forgot this banger https://twitter.com/mattyglesias/status/1590904325169369088
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Nov 11, 2022 05:48
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Heck Yes! Loam! posted:Is there some reason he would benefit by burning twitter to the ground? I feel like he's doing it on purpose. He got in a big fight about being forced to buy at $54.20/share--he lost and got ultra pissy about it. He can have a very childish temperament. Now he's doubling down on: "Force me to buy when I didn't want to? Fine I'll burn the whole thing to the ground then. Deal with it assholes."
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Nov 11, 2022 05:53
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Youth Decay posted:You forgot this banger This led me to an incredibly depressing "what if" scenario that I had forgotten about. https://twitter.com/owasow/status/1498330958965051395
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Nov 11, 2022 05:53
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Sodomy Hussein posted:I can't figure out why he bought Twitter even as petty reasoning goes, because he could always just say whatever he wanted on Twitter and no one cared. for a while he was making a ton of money by using twitter to manipulate various markets, presumably he figured that could continue
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Nov 11, 2022 05:57
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Sodomy Hussein posted:I can't figure out why he bought Twitter even as petty reasoning goes, because he could always just say whatever he wanted on Twitter and no one cared. He thinks he's a genius businessman because he's been involved with 3 wildly successful companies - and that clearly means that every other company he gets involved with will also be successful. Notwithstanding the facts that: - Twitter already had plenty of MBAs trying to figure out how to make it profitable, and not doing well - Paypal was sheer loving luck, right place, right time - SpaceX and Tesla were largely funded by him, helmed by him, but operated by others Musk is a very, very good salesman. But like so many people who have been that successful, it's led him to believe that it's sheer talent and genius, not luck and having the right people that got him there. Hubris like that makes people do very dumb things, in this case, buying a company that not only operates in an entirely different space than he ever has, but is also overseen and regulated in new and exciting ways compared to his existing ventures.
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Nov 11, 2022 06:17
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Shooting Blanks posted:- Twitter already had plenty of MBAs trying to figure out how to make it profitable, and not doing well Current research suggests MBAs aren’t particularly good at that btw.
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Nov 11, 2022 06:21
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I think we just all need to collectively stop entertaining this illusion that rich people have some sort of baseline level of competency or business sense and acknowledge the fact that once you're rich enough it's actually harder to lose money than it is to gain it.
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Nov 11, 2022 06:21
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Clarste posted:I think we just all need to collectively stop entertaining this illusion that rich people have some sort of baseline level of competency or business sense and acknowledge the fact that once you're rich enough it's actually harder to lose money than it is to gain it. But that's literally against every principle of modern culture.
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Nov 11, 2022 06:36
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Bar Ran Dun posted:Current research suggests MBAs aren’t particularly good at that btw. MBAs are generally very good at operating a business in a way that makes sense to bankers and investors. Profitability is far more difficult, I probably could have been a bit clearer.
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Nov 11, 2022 06:39
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Sodomy Hussein posted:I can't figure out why he bought Twitter even as petty reasoning goes, because he could always just say whatever he wanted on Twitter and no one cared. There is a reason why he spent 6 months trying to get out of the deal, it was an absurd overpay offered at the height of the market that he couldn't really afford. And then interest rates went up and Tesla stock went down and he got forced to go through with the deal. The Glumslinger fucked around with this message at 06:59 on Nov 11, 2022 |
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Nov 11, 2022 06:56
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Bar Ran Dun posted:Current research suggests MBAs aren’t particularly good at that btw. What research is this?
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Nov 11, 2022 07:49
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Ghost Leviathan posted:But that's literally against every principle of modern culture. How are we defining modern, here? Supposedly the Swedish statesman and chancellor Axel Oxenstierna said "Do you not know, my son, with how little wisdom the world is governed?" as a piece of helpful diplomacy advice circa 1640's.
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Nov 11, 2022 11:01
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Sodomy Hussein posted:I can't figure out why he bought Twitter even as petty reasoning goes, because he could always just say whatever he wanted on Twitter and no one cared. Because the owner of the account that tracks his plane refused to sell.
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Nov 11, 2022 11:07
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Yvonmukluk posted:Because the owner of the account that tracks his plane refused to sell. There's also an extremely long and hilarious through line that starts with Grimes dumping him for Chelsea Manning and ends with the ever-moving target of where "here" is in his ongoing real life Twitter meltdown, but I'm too tired to explain it. tl;dr: Elonk got mad his elf wife left him for a trans woman so he paid $44 billion dollars to create a transphobia machine and it's currently in the process of devouring his kneecaps somehow.
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Nov 11, 2022 11:15
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Rappaport posted:How are we defining modern, here? Supposedly the Swedish statesman and chancellor Axel Oxenstierna said "Do you not know, my son, with how little wisdom the world is governed?" as a piece of helpful diplomacy advice circa 1640's. I mean, Plato wrote the Ship of Fools allegory ("the state is a ship being piloted by people who have no idea what they're doing") in the Republic, circa 375 BCE, but the modern idea in question is that becoming rich is supposed to be a meritocracy, unlike all those foolish old ways of picking who governs in the olden times.
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Nov 11, 2022 11:29
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Clarste posted:I mean, Plato wrote the Ship of Fools allegory ("the state is a ship being piloted by people who have no idea what they're doing") in the Republic, circa 375 BCE, but the modern idea in question is that becoming rich is supposed to be a meritocracy, unlike all those foolish old ways of picking who governs in the olden times. That's fair. If God picks the King, it's really His fault, but if richness is a reward for being a smarty smart, then whose fault is it our world is run by morons?
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Nov 11, 2022 11:34
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yronic heroism posted:What do we think Alex Jones actual net worth is between all weird rich person assets and shell entities? I’m pretty cynical so I bet it was $50 mil at its peak but probably 20M now with the crypto/NFT slump. it's hard to estimate because, while he is terrible at hiding his assets, he refuses to provide full accounting to anyone, including courts. He submits fraudulent paperwork, suffers the consequences then goes on to lie by claiming that isn't true and anyone who says so defamed him. Speaking of, the judge from the Sandy Hook case has ordered a freeze on Jones's assets because there is a fear he will try to transfer it out of the country or into other people's names (he already has multiple trusts and companies set up but they aren't well-hidden). https://www.yahoo.com/news/alex-joness-assets-frozen-judge-175242739.html yahoo article because Bloomberg article is paywalled.
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Nov 11, 2022 12:22
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Lol remember this from a few weeks ago... https://twitter.com/JudiciaryGOP/status/1578174670854975491 What did they do?! Relevant reply: https://twitter.com/waveturtlejake/status/1590923243594125312
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Nov 11, 2022 13:41
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Sodomy Hussein posted:I can't figure out why he bought Twitter even as petty reasoning goes, because he could always just say whatever he wanted on Twitter and no one cared. he wanted to work the refs by threatening to buy twitter, and had no interest at all in actually doing it. his experience up to this point was that someone with his kind of money could make any issues with take-backsies disappear. this was the first time he'd hosed with someone with comparable legal resources, and it shows.
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Nov 11, 2022 14:51
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Mustang posted:What research is this? There was a study about what happens based on MBA graduates in CEO leadership at corporations. They don’t increase sales, grow the company, or make productivity increases. What they do is reallocate current costs to increase returns to shareholders. And it comes outta one place: Employee wages. It was in a recent economist “In short, ushering mbas into corner offices seems to boost shareholder value by slicing the pie in certain ways, not by making the pie bigger.” https://www.economist.com/business/2022/04/09/how-mba-wielding-bosses-boost-profits So if you need to grow profits. They don’t do that. But they can take them from employees. Which is a very temporary way to grow returns.
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Nov 11, 2022 17:26
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Sir Lemming posted:Lol remember this from a few weeks ago... https://twitter.com/rj_gallagher/status/1591147571996921856 Well from the sound of it, Elon could be going to jail for this, so uh...
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Nov 11, 2022 21:22
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I mean, he won't, but it's very funny to imagine.
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Nov 11, 2022 21:24
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Clarste posted:I mean, he won't, but it's very funny to imagine. I'm laughing harder at all the stocks tanking because of the parody accounts on Twitter. You know he's getting calls from various companies asking him what the hell he's doing to control it because their investors are freaking out.
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Nov 11, 2022 21:35
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Shooting Blanks posted:I'm laughing harder at all the stocks tanking because of the parody accounts on Twitter. You know he's getting calls from various companies asking him what the hell he's doing to control it because their investors are freaking out. This is the thing that tells me Elon is toast no matter what: he messed with other rich people's money and that is the one crime for which there is actual consequences in the world people like Elon Musk live in.
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Nov 11, 2022 21:41
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Bar Ran Dun posted:There was a study about what happens based on MBA graduates in CEO leadership at corporations. They don’t increase sales, grow the company, or make productivity increases. Job Creators!
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Nov 12, 2022 00:49
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Friday update on Nevada https://twitter.com/RalstonReports/status/1591222403375374336
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Nov 12, 2022 01:48
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nine-gear crow posted:https://twitter.com/rj_gallagher/status/1591147571996921856 One important point is that if you’re a Twitter employee, neither Elon Musk’s lawyers nor Twitter’s layers are your lawyers, and you always want advice from your lawyers on legal matters pertaining to you.
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Nov 12, 2022 01:48
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The two largest ad agencies on Twitter, representing more than 80% of Twitter's ad revenue are now recommending that all of their clients stop using Twitter. And Twitter employees are having to obtain legal council to see if following Elon's orders regarding data stewardship is actually committing a crime. It's been one week. https://twitter.com/reckless/status/1591160064680886272
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Nov 12, 2022 01:53
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Tennessee banned slavery as a punishment, which is cool and good. But will that mean? If you’re in prison you only are put to work voluntarily for money? Sorry if this is a basic and dumb question, but slaves being paid doesn’t make them not-slaves.
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Nov 12, 2022 02:22
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Dr Christmas posted:Tennessee banned slavery as a punishment, which is cool and good. But will that mean? If you’re in prison you only are put to work voluntarily for money? It's the "voluntary" part.
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Nov 12, 2022 02:24
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Hey I just found out something interesting. I was thinking to myself about given how close the house will end up after this year's election, and the awful senate map democrats are faced with in 2024, there's a good chance that they could capture the house and lose the senate. I was wondering, when is the last time the president's party held the house but not the senate? Unless I missed something it looks like it was the 50th congress in 1887 under president Grover Cleveland.
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Nov 12, 2022 02:25
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pencilhands posted:Hey I just found out something interesting. I was thinking to myself about given how close the house will end up after this year's election, and the awful senate map democrats are faced with in 2024, there's a good chance that they could capture the house and lose the senate. I was wondering, when is the last time the president's party held the house but not the senate? Unless I missed something it looks like it was the 50th congress in 1887 under president Grover Cleveland. It happened in 2001 when Jim Jeffords switched parties.
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Nov 12, 2022 02:30
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Ah, thank you. That's why I come here.
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Nov 12, 2022 02:32
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It's funny to laugh at Elon for his mishandling of Twitter, but what I find cathartic is how much applying "rich guy business logic" simply failed to work. He bought what he saw as an ailing company and it's obvious he tried to perform the world's dumbest execution of business tune up imaginable: cut costs, raise revenue. He cut costs by cutting his payroll in half and raised revenue by charging for a service that was previously free. If you've ever talked to a business or an econ major they tell you this is the obvious solution to problems like this and anyone who has ever worked at a business at any level well identify it as poison for the actual function of the business. Musk tried to apply the absolute most basic and stupid approach to a business problem. It's like the kind of solution you'd come up with if you were a freshman in business school. This is his idea of radical, out of the box thinking. Mendrian fucked around with this message at 02:56 on Nov 12, 2022 |
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Nov 12, 2022 02:54
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nine-gear crow posted:This is the thing that tells me Elon is toast no matter what: he messed with other rich people's money and that is the one crime for which there is actual consequences in the world people like Elon Musk live in. I saw what happened as soon as I got home and that was my exact thought. He's screwed.
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Nov 12, 2022 03:04
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Mendrian posted:It's funny to laugh at Elon for his mishandling of Twitter, but what I find cathartic is how much applying "rich guy business logic" simply failed to work. On April 15, Calacanis: Back of the enveloppe... Twitter revenue per employee: $5B rev/8k employees =$625K rev Per employee in 2021 Google revenue per employee: $257B rev /135K employee =$1.9M Per employee in 2021 Apple revenue per employee: $365 rev /154k employees = $2.37 M per employee in fiscal 2021 Calacanis: Twitter revenue per employee if 3k instead of 8k: $5B rev/ 3k employees= $1.66m rev per employee in 2021 (more industry standard) Musk: Insane potential for improvement Calacanis: Day zero Calacanis: Sharpen your blades boys Calacanis: 2 day a week Office requirement = 20% voluntary departures
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Nov 12, 2022 03:11
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Mendrian posted:
wrong wrong wrong wrong wrong if you've ever talked to a stupid, ignorant, and/or evil econ major, but actual competent economics studiers tend towards social democracy at the very least, because that's what reality tells us
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Nov 12, 2022 04:12
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GreyjoyBastard posted:wrong wrong wrong wrong wrong also econ majors don’t have the faintest clue how to run a business
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Nov 12, 2022 04:26
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My favorite econ thesis are the ones advocating for the abolishment of <clearly obvious thing that exists only to exploit people's need for a necessary good>. Insulin manufacturing, Private health insurance, private healthcare in general, a particularly spicy one on landlords...
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Nov 12, 2022 04:28
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GreyjoyBastard posted:wrong wrong wrong wrong wrong I mean I'm happy ethical econ majors now exist but when I was in school, at my university, it was pretty widely established as a field you went into if business wasn't evil enough. So I'm glad to be wrong I guess.
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Nov 12, 2022 04:34
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