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  1. #1
    Join Date
    Feb 2007
    Location
    Hot'Lanta... home of the Falcons!

    The fate of Twitter

    Supposedly, Elon Musk is telling Twitter employees the company only has a few weeks of cash left and may have to file for bankruptcy.

    He paid $44 billion for it less than a month ago.

    https://twitter.com/ZoeSchiffer/stat...12793787518977
    I don't know what you are doing right now, but if you aren't listening to the DBR Podcast, you're doing it wrong.

  2. #2
    Elon should have just rented Twitter until the elections are finalized.

  3. #3
    It has been spectacular so far. Thereís part of me that almost thinks heís doing it on purpose.

  4. #4
    Join Date
    Mar 2007
    Location
    Boca Grande Florida
    Quote Originally Posted by JasonEvans View Post
    Supposedly, Elon Musk is telling Twitter employees the company only has a few weeks of cash left and may have to file for bankruptcy.

    He paid $44 billion for it less than a month ago.

    https://twitter.com/ZoeSchiffer/stat...12793787518977
    Heís a great, entertaining and informative follow, and stated the other day that more people are now using Twitter than ever.

    He has recently ordered all employees to return to the office, and there are to be no more remote Twitter employees.

    Supposedly, he told workers that nothing was guaranteed in the future at Twitter, and if they didnít do the job, ďbankruptcy was not out of the question ď if they failed.

    Sounds like it was nothing more than a motivational comment thatís been taken out of context to me.

  5. #5
    Cmon Wheat. I work in the bankruptcy field. Trust me, you never mention it if you are trying to motivate employees. Itís the surest way to get more people to find new jobs.

    The company has been a complete disaster since he took over. They are having huge problems with imposter accounts now (a fake Eli Lilly account announced insulin is now free). There privacy team all quit because they wouldnít sign docs saying the company is in compliance with the consent decrees with the FCC (which they are now in violation of). Advertisers are leaving in droves.

  6. #6
    Join Date
    Nov 2007
    Location
    Raleigh, NC
    Quote Originally Posted by Matches View Post
    It has been spectacular so far. Thereís part of me that almost thinks heís doing it on purpose.
    I've been thinking maybe he just really hates Twitter and was willing to burn $44B to take it down. Honestly I've probably made (proportionately) worse impulse buys.

  7. #7
    Join Date
    Mar 2007
    Location
    Boca Grande Florida
    Quote Originally Posted by acdevil View Post
    Cmon Wheat. I work in the bankruptcy field. Trust me, you never mention it if you are trying to motivate employees. It’s the surest way to get more people to find new jobs.

    The company has been a complete disaster since he took over. They are having huge problems with imposter accounts now (a fake Eli Lilly account announced insulin is now free). There privacy team all quit because they wouldn’t sign docs saying the company is in compliance with the consent decrees with the FCC (which they are now in violation of). Advertisers are leaving in droves.
    Maybe, I’m not privy to what’s happening inside the company, but I’m on Twitter every day and it doesn’t seem like a disaster to me.

    I get a lot of my news first from Twitter. I love the format, easy to see the headlines and then dig deeper if you are interested in the topic.

    It’s all about who you follow…..

  8. #8
    Twitter had very little debt before the acquisition. The debit service went from $51 million to $1 Billion per year. Free cash flow was $630 million last year. Heís having problems with his debt from the bridge and operation loans. Even without the advertiser pause it was going to be a monumental problem. Those type of loans always have a much higher interest than traditional loans. Iím a bit surprised he couldnít get better terms.

    Quote Originally Posted by Wheat/"/"/" View Post
    Heís a great, entertaining and informative follow, and stated the other day that more people are now using Twitter than ever.
    The majority of new signups have been bots and trolls. They have zero monetary value.

  9. #9
    Itís potentially going to be dangerous at some point.

    Itís all well and good to laugh off a fake Lebron account saying he wants out of Los Angeles.

    But what happens when some jerk impersonates a government official and says that everyone needs to evacuate an area? Or countless other awful scenarios.

  10. #10
    Join Date
    Feb 2007
    Location
    Rougemont Nebulae
    Quote Originally Posted by Wheat/"/"/" View Post
    He’s a great, entertaining and informative follow, and stated the other day that more people are now using Twitter than ever.

    He has recently ordered all employees to return to the office, and there are to be no more remote Twitter employees.

    Supposedly, he told workers that nothing was guaranteed in the future at Twitter, and if they didn’t do the job, “bankruptcy was not out of the question “ if they failed.

    Sounds like it was nothing more than a motivational comment that’s been taken out of context to me.
    WOW Wheat. That is some industrial grade lipstick on that pig. Are you blushing? You really should be blushing.
    Last edited by -jk; 11-10-2022 at 08:02 PM. Reason: Don't need to yell

  11. #11
    Join Date
    Jan 2010
    Location
    Outside Philly
    If Elon offers you a pony to sign up, donít do it. Itís a trap!

  12. #12
    Join Date
    Feb 2007
    Location
    Rougemont Nebulae
    Quote Originally Posted by acdevil View Post
    It’s potentially going to be dangerous at some point.

    It’s all well and good to laugh off a fake Lebron account saying he wants out of Los Angeles.

    But what happens when some jerk impersonates a government official and says that everyone needs to evacuate an area? Or countless other awful scenarios.
    While I absolutely would NOT label this post "alarmist", I think you'd agree that anyone who fell for that sort of ruse probably deserves their fate...whatever it is but it probably won't be good.

  13. #13
    Join Date
    Feb 2007
    Location
    Rougemont Nebulae
    Quote Originally Posted by bundabergdevil View Post
    If Elon offers you a pony to sign up, donít do it. Itís a trap!
    I don't know why I have to spread sporkz. I can't recall ever sporking you...and believe me I never forget a good sporking. But I'm laughing so hard $81.00 Woodford Reserve is emanating forth from my prodigious proboscis.

  14. #14
    Quote Originally Posted by CameronBlue View Post
    While I absolutely would NOT label this post "alarmist", I think you'd agree that anyone who fell for that sort of ruse probably deserves their fate...whatever it is but it probably won't be good.
    I would agree, but some of the fakes are quite good. What if it looked like it was coming from the Palm Beach Mayors office right before a hurricane? Wouldnít be so unbelievable.

  15. #15
    Quote Originally Posted by CameronBlue View Post
    I don't know why I have to spread sporkz. I can't recall ever sporking you...and believe me I never forget a good sporking. But I'm laughing so hard $81.00 Woodford Reserve is emanating forth from my prodigious proboscis.
    Ah, the oh-so-casual sporker that can't remember your handle in the morning. Nice.

  16. #16
    Quote Originally Posted by CameronBlue View Post
    While I absolutely would NOT label this post "alarmist", I think you'd agree that anyone who fell for that sort of ruse probably deserves their fate...whatever it is but it probably won't be good.
    The problem is that in the past, those types of things would have been easy to spot, because of the verification system.

    Musk altered the verification system so that anyone who pays $8 can create a verified account.

    Anyone doing so fraudulently is violating Twitterís TOS, and Twitter will catch them and delete the account - at some point. But how much damage is done in the interim? Muskís misunderstanding and alteration of the verification system has made it much easier for bad actors and scammers to reach a larger audience, appear more credible, and do real damage.

  17. #17
    Quote Originally Posted by Kdogg View Post
    Iím a bit surprised he couldnít get better terms.
    What are the loan terms? Given your statement, he must have refused to provide any collateral. And, thatís very interesting and revealing.

  18. #18
    Quote Originally Posted by Matches View Post
    The problem is that in the past, those types of things would have been easy to spot, because of the verification system.

    Musk altered the verification system so that anyone who pays $8 can create a verified account.

    Anyone doing so fraudulently is violating Twitterís TOS, and Twitter will catch them and delete the account - at some point. But how much damage is done in the interim? Muskís misunderstanding and alteration of the verification system has made it much easier for bad actors and scammers to reach a larger audience, appear more credible, and do real damage.
    How does that compare with Facebook? Iíve never tried either.

  19. #19
    Join Date
    Dec 2009
    Location
    North of Durham
    Quote Originally Posted by Matches View Post
    The problem is that in the past, those types of things would have been easy to spot, because of the verification system.

    Musk altered the verification system so that anyone who pays $8 can create a verified account.

    Anyone doing so fraudulently is violating Twitterís TOS, and Twitter will catch them and delete the account - at some point. But how much damage is done in the interim? Muskís misunderstanding and alteration of the verification system has made it much easier for bad actors and scammers to reach a larger audience, appear more credible, and do real damage.
    Who will catch them? All of the people capable of doing that have been fired or quit.

    It is very sad. Iím not a Twitter user or fan. But when run properly it served a purpose. And I know some very smart, good people who have worked there (including one of my best friends who left about five years ago).

    I really donít know what Muskís plan was or is. But this is going to have a very negative impact on a lot of people, some more innocent than others.

    I have always disliked the loud mouth know it alls who had to show they were the biggest personality in the room. And that is what Musk is. Those people often do very well in life, but they also often have little concern for the opinions or well-being of others.

  20. #20
    Quote Originally Posted by Jeffrey View Post
    How does that compare with Facebook? Iíve never tried either.
    I quit FB awhile back so canít comment on what itís like now. Twitter has, IMO, been superior to FB as a news source. Itís more immediate and there are fewer made-up memes circulating amongst the credulous. You could curate your Twitter pretty effectively to only follow legit and reliable news sources, whereas you probably canít avoid your lunatic uncleís white nationalist posts on FB.

    Making it harder to tell who is who on Twitter undermines all of that.

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