450
Twitter's valuation has been slashed by 47% at Ark Invest since Elon Musk took over
(markets.businessinsider.com)
this post was submitted on 18 Jul 2023
450 points (96.9% liked)
Technology
59672 readers
3186 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Anything is worth whatever somebody is willing to pay for it.
This dumb bastard just happened to be willing to pay $44 billion.
Actually, Musk didn't want to pay anything for Twitter, but was willing to pay $44 billion to avoid the discovery process.
Excellent point, lest anyone forget that he was really just running his mouth and got too far in before the mania dropped.
I don’t think it was even that. He was so 100% going to lose the fight to not buy Twitter that even for someone with his resources it wasn’t worth fighting. He made a weak attempt to embarrass Twitter into backing out due to public opinion, but didn’t really have any options after that. He just fucked up that magnificently with the initial contract.
True but It is like a reverse Schrödinger valuation.
When EM offered 44B, that was twitter's value until the transaction was complete.
Now it is only worth what someone else will pay for it...
Musk didn't pay $44bn. He paid $26bn, then $5bn was from other investors and the remaining $13bn was a loan Twitter took out to buy itself on Musk's behalf.
Yay, leveraged buyouts! They totally aren't used to avoid tax and kill businesses!