Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price

Honestly terrifying that they still think it is worth that much.

And yet, he's still one of the what, 5 richest people on the planet?

He doesn't give a shit, and neither should you (as nice as the schadenfreude might feel). He got something worth more to him than plain old money - an established propaganda platform, which he is using as he intended - to war monger and otherwise interfere in politics to ensure fascism progresses as fast as he can help it. The "dent" (more like a surface scratch) it put in his finances is completely invisible and irrelevant to him.

And it should be to you, too.

He is NEVER going to end up without means or power, not even fucking close, unless we take them from him, and abolish the system that encouraged and enabled him to amass them in the first place.

Musk did not buy this as an investment. He bought it to flip elections and manipulate public opinion.

Tesla is writing him a check that will cover the entire purchase price, and Saudi Arabia and Russia will pay the operating costs.

Active users are what matters; if they lost 75% of their users then I'm paying attention.

Elon Musk's greatest personal achievement has been his tireless work and incredible effort toward disproving the myth of Billionaire Exceptionalism.

We knew this was going to happen before he made the purchase.

Everyone said, the best way for Elon to keep his money was to change very little, or even take a hands-off approach.

Masnick suggested this would happen

It was that and so much worse. Moral of the story: Running a huge social media service is hard. Maybe don't assume that because you're a billionaire you're the best at doing stuff.

If they influence the election to their desired outcome, then the value won't matter. The damage will have been done.

I just checked and it's worth nothing to anyone important.

its worth comes from being able to influence world politics. Does he seem like someone who cares or needs money?

Elon is a genius at losing money.

Posts about value are ads. Stop give exposure to this guy or his companies

Didn't he pay too much for it in the first place?

How to become a billionaire: Start with 54 billion

And may it continue to crash and burn. It’s just 4 chan at this point.

I doubt anybody would buy it for a tenth, tbh.

My first thought is 'I can't wait for it to turn zero' but then I realize that 79% decline from 44 billion still means it is worth 9.24 billion.

And that is still a shitload of money.

A quarter is cute and all but...

Let’s everyone point and laugh. It humbles people like him, right?

May it sink even lower

Something tells me its value is not monetary for Musk.

Twitter was useful.

X is just useful idiots at this point.

I remember thinking twitter was bad before he took over

It's now a complete shadow of what it was even just a couple of years ago. Just a quarter of its value seems generous

I wish, I wish... I wish I was a fish.

I wish there was an instrument other than the stock market whereby private individuals could combine their funds to perform hostile take-overs, and then manage them by pre-agreed conditions.

Like: we're going to buy Twitter, build an AP interface on it, federate it, and operate it like a non-profit. We're going to have a set of these S core values, with yearly votes on changes proportional to investment. No single investor can own more than T percent of shares Investors can sell their shares, or buy shares. Stock will never spilt. Management salaries, combined, can never exceed more than M% of non-management combined salaries, and run it as a Holocracy. Or, maybe, shares can only be sold to employees, who have to sell to other employees when they leave.

You know; try to design a good operating model that avoids the pitfalls of other companies, and can adapt when the model demonstrates perverse incentives. Put more thought into it than my ramblings above.

But ten billion dollars is a lot of money to put together, and the rules I'd like to see necessarily exclude the sort of profit-only driven capitalists who'd be able to contribute heavy loads, and would limit the amount that could contribute.

I may as well wish I were a fish.

Impressive. I could not have done that.

same as my GameStop shares

That's a good start, now keep going

It was never worth 44 billion USD

If he succeeds in using it as a propaganda platform to force the US into a fascist dictatorship, he will have gotten his money's worth.

A real socialist! Took money from the rich to give it to the poor (minded). /s

If I remember correctly the evaluation of Xitter has been around $9 Billion for years so they're basically saying it tanked only a little if you adjust for inflation.

Tesla is next. I'm not sure even he can fuck up SpaceX but I'm sure he'll give it the ol' college try.

Twitter has worth?

Still this much? Damn dude cooled off

%79 so far

I don't have the whole context so I might be missing some things, but the whole thing looks to me like "look at how much money I have to burn and how much I don't care".

As long as it’s still in operation and people view it as a valid platform, its numerical value is irrelevant. I won’t be happy until it goes away or is relegated to the likes of Truth Social.

I used to enjoy how they always use dumb photos of Leon in these articles. Now I just hate seeing his face.

Keep digging, "Leon".