Fidelity has marked down the value of X by 65%::undefined
Down 65% so far.
I want to upvote but you’re at 65. Conundrum.
He’s now at 69, and I can’t upvote either.
It’s nice to see bad things happen to bad people and their things.
Tesla also lost like 30 billion recently.
It’s like Christmas coming early.
Santa came early this year.
Oh he read the report too?
You love to see it
So do you.
Word on the Street is that this makes other letters much more valuable…
(Sesame Street, that is.)
Oh no! … Anyway…
65% from $44B or the more realistic value? Because 65% off of $44B is close to the original projected value I think, which makes absolutely no sense.
65% down from the 300 mil that Fidelity put into the acquisition. This article isn’t about the overall value, just one investors valuation of their investment.
Yeah they ain’t seeing all of that back.
If they wait long enough, they might be trading their stake in X for a candy bar.
That has got to hurt. They put in 300 mil, and all they will get back is 100 grand.
close to the original projected value
Doesn’t matter much. Their boss continues to work it down to rock bottom.
This is financial news not tech news
Ex-Twitter is a tech company. Its devaluation is relevant to the tech industry.
This is a wonderful multi-billion dollar experiment on whether Elon can run Twitter better. So far, the answer is no, in fact, it’s not even Twitter anymore. It’s a random letter. His brilliance is unmatched… in figuring out how to lose a lot of money as fast as possible.
I didn’t realise it was a random letter. I thought he picked the X as a symbol of femininity because of two X chromosomes.
No.
I think I would know what I thought.
thats absolutely cringe and not it LOL. he picked it because he thinks its cool. no other reason, he said so himself.
Now do reddit
Golly that’s just terrible.
That’s really generous of them because if musk offered to sell it to me for $50k, I’d laugh in his fucking face. It’s a dumpster fire living on borrowed time since some dickhead took a giant shit on it.
At that point just crowd fund it, shut down the existing service and spin up a Mastodon instance
Nah, turn it into a URL shortener / pastebin / disposable email address etc. So many good uses for a short URL that’s not social media.
I would buy one of the most popular social networks for 50k in an instant. you would be stupid if you turned that down
You would be really stupid to buy it too. You’re now legally liable for $44 billion in debt. Because that debt is saddled to Xitter, not to Musk. Good luck dodging your new Saudi overlords.
Finally some Musk news worth upvoting.
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