Plunging U.S. revenue at X risks opening up a "massive hole" on its balance sheet that Musk needs to plug to stave off its financial collapse.

Musk’s repeated outbursts against advertisers have dried up the main source of revenue for the loss-making company formerly known as Twitter. A recent decision to sue them for heeding his own advice to not buy ads on the platform hasn’t helped. At some point, he will have to provide a fresh infusion of cash to salvage his $44 billion takeover.

  • Nurgus@lemmy.world
    211·
    3 months ago

    Who would buy it now, though? It can’t have much value left. (Edit: Twitter. Not talking about Tesla, that’s a whole different arc.)

    • vga@sopuli.xyz
      103·
      3 months ago

      Judging by the used car online sites, it has about as much value left as any other car with similar age and kilometers. If I had to buy a car right now, I’d probably take a hard look at the alternatives. But they’d have to actually be better, I usually make car purchase decisions based on the qualities of the car.

      Although Musk is certainly trying to make such principles difficult.

      Good thing my car is new enough that I don’t have to make this choice for several years. Perhaps the competition will have caught up by the time I need to get a new one.

      • gnuplusmatt@reddthat.com
        212·
        3 months ago

        Competition has exceeded tesla. I recently got BYD Seal, and it is better than the equivalent priced tesla

        • vga@sopuli.xyz
          132·
          3 months ago

          I’m glad it worked for you. Things will have to change a bit globally that I would consider a BYD.

          Oh right, perhaps already I don’t make purchase decisions purely based on the qualities of the car :)

          • gnuplusmatt@reddthat.com
            7·
            3 months ago

            I figures it was a simple calculus, especially since BYD is the OEM that supplies parts for many of the other brands, especially the batteries.

            I’d rather benefit from that status than support a egotist like Musk. Besides anywhere outside America the Teslas are made in China, just like the BYDs 😆

            • AA5B@lemmy.world
              13·
              3 months ago

              I’d rather benefit from that status than support a egotist like Musk

              Have you looked at what your money would support, buying from BYD? If part of your decision is who profits, both choices are horrible and you could argue Musk I less horrible. This is one of the reasons I try to keep that out of my decisions.

        • toasteecup@lemmy.worldEnglish
          2·
          3 months ago

          I’m in the very very early stages of ecar research. Mind helping me and share what features or data make the BYD Seal better than a Tesla?

      • Todd Bonzalez@lemm.ee
        4·
        3 months ago

        The price of used Teslas has nothing to do with the value of Tesla stock.

        Intel’s stock dropped from $50 to $20 over the last year, but their processors still cost the same.

    • jonne@infosec.pub
      7·
      3 months ago

      It’s still a car company with factories in multiple countries and pretty much the best battery tech and the best charging network. If they get bought by an established car company, they keep building the model 3 and Y cars while fixing the production issues there’s still a lot of value there. You just need someone in charge that doesn’t spend their days shit posting.

        • jonne@infosec.pub
          1·
          3 months ago

          Oh yeah, Twitter probably has a negative value with all the debt Musk loaded onto it to buy the company (it’s crazy that that’s legal).