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Company valuations tend to be a lot of bullshit
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Feb 19, 2023 01:50
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Just going all in on sandwiches.com in early 2000.
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Feb 19, 2023 02:16
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I don't think Twitter was ever valued at $44 billion? That's just what Elon godfather offered at for whatever stupid reasons he had.
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Feb 19, 2023 02:31
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Popete posted:Wasn't Twitters whole issue that they couldn't make a profit? How is a company valued at $44 billion when it can't figure out how to make money? money isn't real
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Feb 19, 2023 03:04
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Papercut posted:I don't think Twitter was ever valued at $44 billion? That's just what Elon godfather offered at for whatever stupid reasons he had. Which is specifically why the Twitter board raced to solidify the deal before he sobered up - there was no conceivable way even to cook the books and come out with that number. When you're offered a vastly excessive amount of money for your asset by a buffoon, you say yes.
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Feb 19, 2023 03:12
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Papercut posted:I don't think Twitter was ever valued at $44 billion? That's just what Elon godfather offered at for whatever stupid reasons he had. His whole thing was bidding to take the company private at a valuation of $54.20 per share, because he wanted to make a weed joke. That's it. That's how it got to $44 billion.
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Feb 19, 2023 03:30
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“Valuation” is always a virtual number, there’s no master ledger somewhere full of thoroughly thought-out company appraisals. It’s just the current stock price times the total number of shares, the total amount of value controlled by the company’s shareholders at a given moment
haveblue fucked around with this message at 03:47 on Feb 19, 2023 |
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Feb 19, 2023 03:42
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Papercut posted:I don't think Twitter was ever valued at $44 billion? That's just what Elon godfather offered at for whatever stupid reasons he had. He was really impatient and wanted to rush the deal along, so he made an offer they'd be foolish to refuse, substantially overpaying and letting them pretty much dictate whatever terms they wanted in the sale deal. When tech markets took a dip shortly after, he sobered up and tried to back out, but they'd locked him in real good with that contract.
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Feb 19, 2023 04:14
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Inferior Third Season posted:I think you're underestimating just how much money $44 billion is, and overestimating how much money rich people could potentially save from yet even more tax breaks. Musk did not pony up the entire purchase price himself, it's a highly leveraged deal and there are some banks and some Gulf petro-barons that are going to take a large bath on this when it's all said and done.
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Feb 19, 2023 05:57
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investment
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haveblue posted:“Valuation” is always a virtual number, there’s no master ledger somewhere full of thoroughly thought-out company appraisals. It’s just the current stock price times the total number of shares, the total amount of value controlled by the company’s shareholders at a given moment Like this is true, but there's still a few pretty broad general guidelines for how much a companies "worth" based on a few different things. Like it's hard to say how much Twitter is "worth" but pretty much ever still agrees Musk paid far, far to much for it.
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Feb 19, 2023 06:07
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Inferior Third Season posted:I think you're underestimating just how much money $44 billion is, and overestimating how much money rich people could potentially save from yet even more tax breaks. One of the effects of a single Republican president in office for four years: https://itep.sfo2.digitaloceanspaces.com/ITEP-Bonus-Depreciation-brief-2022.pdf I dunno, seems like spending billions in information control can eventually pay off. Automata 10 Pack fucked around with this message at 21:45 on Feb 19, 2023 |
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Feb 19, 2023 21:37
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Automata 10 Pack posted:One of the effects of a single Republican president in office for four years: https://itep.sfo2.digitaloceanspaces.com/ITEP-Bonus-Depreciation-brief-2022.pdf Did you just look up "Trump tax break totals" and paste the first result that showed big numbers? If anything, this does a pretty good job of supporting ITS's point. The combined effect of the tax breaks over 4 years on 23 massive companies with $890 billion in profits was about $107 billion. I'm not gonna do the math on the supposed valuation/market cap of those companies combined, but we're talking a figure that would easily be several trillion dollars. Meanwhile Musk and his financiers bought Twitter at a comically-overvalued $44 billion valuation and the company had net losses of hundreds of millions a year even before he took over and scared off the advertisers. You're trying to make comparisons between situations that are different by several orders of magnitude. So no, it doesn't matter how good your accountant is, there is no "tax break" that is going to pay for the value of the worthless company you just bought. What a bizarre thing to say and then double down on. Baronash fucked around with this message at 22:30 on Feb 19, 2023 |
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Feb 19, 2023 22:24
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Not saying Musk made a good decision, since he’s an idiot who can’t manage Twitter. But yeah, a single new policy netted the 1%, 109 billion dollars as a result of a single GOP presidential election, so far. That’s 4-13 billion dollars for many companies on that list, so far. A policy that hasn’t been disarmed yet and if history has anything to go by, won’t be disarmed. And this is just one of the ways the 1% profited off of a single one term GOP presidency. And you have ownership of Twitter, which is responsible for driving the cultural change of many things over the past fourteen years. (Most recently, the horrific tide of legislation aimed at genociding trans folk.) So yeah, under the right hands. $44 billion dollars for ownership of one of the core pillars of global information control would be a decent investment if it was in more competent hands. Musk? no. But Twitter has/had more to offer than just the profit it generates off of ads for gacha games or whatever. Automata 10 Pack fucked around with this message at 03:23 on Feb 20, 2023 |
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Feb 20, 2023 03:19
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I don't think billionaires really want to lose money so other billionaires can be richer. That goes against the idea of keeping score.
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Feb 20, 2023 05:25
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And remember, for these people it literally is a high score.
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Feb 20, 2023 08:38
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Clarste posted:I don't think billionaires really want to lose money so other billionaires can be richer. That goes against the idea of keeping score. Automata 10 Pack fucked around with this message at 17:58 on Feb 20, 2023 |
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Feb 20, 2023 13:46
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They spend money on getting Republicans elected so THEY can make more money. It's an investment. The point I am making is that in your scenario Musk would be taking a huge loss that he will never recover before he dies, simply to make his peers more money. Which is not how billionaires, or anyone really, thinks. He can never personally make back that investment no matter how competent he might have been at manipulating public opinion through twitter.
Clarste fucked around with this message at 18:42 on Feb 20, 2023 |
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Feb 20, 2023 18:39
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So, there's a tweet about an excerpt from a Chinese Passenger Car Association criticizing Tesla that has been getting attention because Twitter pops up this message when anyone interacts with it... https://twitter.com/ObeseChess/status/1627840456091668480?s=20 It's not just likes, but retweets, bookmarks, etc.
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Feb 21, 2023 05:10
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Edit: Lol might have been wrong too per other thread
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Feb 21, 2023 05:16
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Young Freud posted:So, there's a tweet about an excerpt from a Chinese Passenger Car Association criticizing Tesla that has been getting attention because Twitter pops up this message when anyone interacts with it... I think we're heading into 320 liability territory.
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Feb 21, 2023 07:57
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What is section 320? Edit: \/ Oh cool. I really thought there was some other crazy thing now. Rocko Bonaparte fucked around with this message at 00:56 on Feb 22, 2023 |
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Feb 21, 2023 10:10
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Rocko Bonaparte posted:What is section 320? Sorry, that should be 230.
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Feb 21, 2023 15:11
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Reddit gold, but on Twitter. https://twitter.com/Tree_of_Alpha/status/1628466657789202440?s=20 Someone had mentioned that Elon felt like he was more like a redditor than a Twitter user, and this is just really cementing that view.
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Feb 23, 2023 01:38
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Of all the poo poo he's done, that's... surprisingly not awful. People love cheering bits or throwing coins or whatever the gently caress, it's a win-win to allow for it to happen.
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Feb 23, 2023 04:57
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I don't use reddit, what is this?
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Feb 23, 2023 05:34
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Soonmot posted:I don't use reddit, what is this? You know when you buy games on Steam now you get Steam points? If you look at a review for a game you can give those reviews Awards using your points. Its like that except you are giving Elon money to do so.
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Feb 23, 2023 05:40
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Soonmot posted:I don't use reddit, what is this? It's like in-game currency, but for Twitter. You buy a supply of them and then spend them on exclusive site features like doing a special super-like on someone's post. The real money means they're a lot rarer and perceived to have higher value
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Feb 23, 2023 05:45
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PT6A posted:Of all the poo poo he's done, that's... surprisingly not awful. People love cheering bits or throwing coins or whatever the gently caress, it's a win-win to allow for it to happen. Those systems all work cos they're integrated into live streaming features. Sucking up to Twitter main characters is just sad by comparison. At least with the likes of Twitch people are generally pulling in the same direction - Twitter is inevitably going to be used as a way of owning peoples' posting enemies in an especially pathetic way.
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Feb 23, 2023 16:44
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haveblue posted:It's like in-game currency, but for Twitter. You buy a supply of them and then spend them on exclusive site features like doing a special super-like on someone's post. The real money means they're a lot rarer and perceived to have higher value okay, i've felt like I don't get the internet until right now. I'm offically an old because why the gently caress would you do this? \//\/that makes sense Soonmot fucked around with this message at 00:58 on Feb 24, 2023 |
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Feb 24, 2023 00:41
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Soonmot posted:okay, i've felt like I don't get the internet until right now. I'm offically an old because why the gently caress would you do this? It's like throwing a $20 bill at a street performer, except instead you're throwing virtual quarters at people who did a viral tweet or something It's just tipping. "I liked your tweet and want to pay you a buck for a tweet well done (or because I'm a creepy internet weirdo who wants to buy a moment of your attention)".
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Feb 24, 2023 00:48
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It's like the inverse of buying someone an embarrassing avatar on SA.
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Feb 24, 2023 00:55
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Imagine if you could emptyquote a post here, but if you gave jeffery $5 it would have a flashing border. $10 and it's in a fancier font Hang on, gotta post in QCS about revenue stream ideas
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Feb 24, 2023 01:09
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Main Paineframe posted:It's like throwing a $20 bill at a street performer, except instead you're throwing virtual quarters at people who did a viral tweet or something More like giving a street performer a card that says "you're awesome!" that you paid someone else $20 for.
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Feb 24, 2023 02:29
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Okay, so this is close to confirmation on something that popped up yesterday, but Musk decided to not pay Slack for their communications service the engineers were using and they all got cut off yesterday without warning... https://twitter.com/ZoeSchiffer/status/1628923615982022656?t=ZqBj8vXHPP7Zp0NZK3r-Sw&s=19 Edit: Apparently, Jira is well-known to be integrated with Slack, which is probably why Twitter engineering was using it, so Jira being broken with Slack being removed is HOLY gently caress! for engineering. Young Freud fucked around with this message at 15:27 on Feb 24, 2023 |
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Feb 24, 2023 15:21
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Fister Roboto posted:More like giving a street performer a card that says "you're awesome!" that you paid someone else $20 for. And the performer can then turn in that card for $15.
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Feb 24, 2023 18:42
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Young Freud posted:Okay, so this is close to confirmation on something that popped up yesterday, but Musk decided to not pay Slack for their communications service the engineers were using and they all got cut off yesterday without warning... https://twitter.com/ZoeSchiffer/status/1628923615982022656?t=ZqBj8vXHPP7Zp0NZK3r-Sw&s=19 Edit: Slack itself was bought for almost $30B and no, the worth/paid price ratio is not at all similar to the oneusk has paid for Twitter. That Italian Guy fucked around with this message at 23:39 on Feb 24, 2023 |
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Feb 24, 2023 23:36
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snip
Somebody fucked around with this message at 16:04 on Feb 25, 2023 |
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Feb 25, 2023 15:23
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There is no bigot so foul that Elon will not pander to them and their supporters. https://twitter.com/ericbrownzzz/status/1629556835513401345?s=20
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Feb 26, 2023 01:13
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That Italian Guy posted:Yeah I'm not sure that trying to play the big bully with certain companies is going to work out well for Musk's Twitter. Slack is owned by Salesforce. Salesforce is in the top half of the Fortune 500 companies, with a net worth as of February 22, 2023 of $161.62B. Just a coincidence, but Slack apparently banned one of Elon's favorite tweeters, Libs Of TikTok, from their service.
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Feb 26, 2023 02:41
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I'm doing the retweet of this news because people might have forgotten her cheering on Musk for pushing all the Twitter employees to sleep in at the office... https://twitter.com/punished_cait/status/1629927460417544197?s=20 Twitter Blue was Crawford's baby, so I'd guess that things aren't going well with subscribers. Apparently a bunch of the Musk loyalists got purged in this latest round of layoffs. https://twitter.com/ZoeSchiffer/status/1629882863507357696?s=20 Young Freud fucked around with this message at 21:07 on Feb 26, 2023 |
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Feb 26, 2023 20:51
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