Just this once,. I actually believe in his abilities. He can bring that 47% down to 0%. I just know he can. Come on, Elon. We’re all counting on you now.
47% down to 100% or 53% down to 0%
You mean he’ll bring Twitter valuation back to what it was?
Last thing I heard, Cathie Wood is not much better than Musk and Ark is quite a scam. Did I get it wrong?
I had some of her ETFs. Yes, had. They did okay when the topic they cover was getting media attention or breakthroughs or whatever but granted I was only paying attention to them during the late 2020 bull market when most everything did at least okay.
Specifically, my shares of her gene therapy ETF did well. My shares of her robotics and technology one did meh. I can’t honestly remember how my share or fraction of her fintech one did lol
Ok, then not so bad after all?
Religiously, I have severe problems with prosperity gospel bullshit that Cathie Wood (and similar investors) follow. These people are literally praying to God for more money, and trying to convince the religious folk out there that this is normal. (Ignoring the fact that Jesus literally warned us against this practice)
And not like how poor people pray to God to have enough money to keep their house or other necessities. She’s literally praying for the excessive amounts of wealth that only exists in top-level venture capitalism firms.
I’m somewhat religious myself, and I know there’s a lot of atheists out there. But I feel the need to point out the prosperity gospel bullshit whenever she comes up, because I think this is a dangerous religious movement that needs to be kept in check.
So religiously at least, I think Cathie Wood is a scam. What she invests into is momentum-following / following of hype for the most part (kind of standard in the great scheme of crazed venture capitalist firms these days). Its really the religious slant she represents that bothers me more so than others.
I wasn’t aware of the religious slant but - as an atheist myself - Amen to that brother!
She does not have superhuman stock picking and macroeconomic environment decoding abilities. She got massively lucky with China until Xi decided that large successful Chinese enterprises were a danger to his Party and COVID+inflation stressed all other companies
What I’m reading is that there’s another 53% left to lose, come on musk hurry the fuck up already.
Maybe when he realizes how broke most of his userbase is he will start to care about wealth inequality.
I feel like he’s trying to see how fast it can be done
Only 47%? Really?
The real question in my mind, is will the investment markets punish Musk as a result of such an epic demonstration of business incompetence. For whatever reason they haven’t done that so far.
deleted by creator
Musk is the CEO of a publicly traded company (Tesla) and the CEO of a company that just recently sold shares on the secondary market (SpaceX). The valuation of these companies is wrapped up in market sentiment about Elon Musk.
deleted by creator
The valuation of those companies should be wrapped up in their performance, financials, and future outlook.
Yeahhhhh, about that…
“That’s according to a Monday report from The Wall Street Journal. Given Musk purchased Twitter for $44 billion late last year, the markdown would put the company’s current valuation at about $23 billion, based on Ark’s estimate.”
$23b is what it was actually valued before Musk crazily overpaid for it and took over.
Now, that estimate comes from an investor that financed part of that purchase (so they’re already suspect for paying double the odds back then) that still thinks there’s a great future ahead for Twitter under Musk - so it’s wildly optimistic.
The real value you could find someone paying for it would be more likely in the mid single digits.
It’s worth about $6b, this is not a good time for a social media company built around ad revenue that’s hemorrhaging customers and also happens to be saddled to the brim with short-term debt.
This whole comment should be bankrupt.
Is there ever a good time for that type of company? Hemorrhaging customers and being saddled to the brim with debt seem like pretty big problems at any time
When money is free debt is almost meaningless, now is when shit gets real.
ad revenue that’s hemorrhaging customers
It’s also haemorrhaging ad revenue, since Musk recently stated that ad volumes were down 50% or so.
Twitter ad buys were junk when it was considered a good site. I can’t imagine how poorly it’s doing since the users are largely bluetlicker shitstains
Musk didn’t buy twitter as a purely financial return investment. He wants to control the narrative, be a media mogul and get election favours. He brought it to be a cult leader and spread his ideology
So now it’s worth $22bn and has $13bn of debt?
deleted by creator
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.
Cathie’s still “bullish”. At least those were the words that came out of her mouth
Maybe she mispronounced bullshit? Because that would make more sense.
