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Elon Musk - the world's "greatest" spiv?

birchesgreen

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Wasn't a recent example of Tesla "innovation" was that after a software upgrade it could make fart noises?

They seem to be a bit stagnant to be honest, their line-up hasn't changed while most of the big beasts are starting to get competitive with EVs now.
 
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jon0844

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Wasn't a recent example of Tesla "innovation" was that after a software upgrade it could make fart noises?

They seem to be a bit stagnant to be honest, their line-up hasn't changed while most of the big beasts are starting to get competitive with EVs now.

It was all meant to be about the lorries and Cybertruck by now. The lorries might arrive this year or next, but the Cybertruck seems to be pretty much forgotten about.

Elon is probably bored of cars now, as well as space, solar and tunnels. Now he can become the ultimate keyboard warrior!
 

GS250

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He reminds me of that chief in one of those 80s comedies (can't remember the title) where he would tell a terrible joke then bark "LAUGH!" and all his flunkies would laugh hysterically.

This was a bit like the entire crew of the Star Wars prequels behaviour in front of George Lucas. So in awe of him they refused to challenge anything he said and laughed at his unfunny jokes.

As for Musk.... definitely a hell of a smart bloke. You don't get to where he has by being a bit ordinary. But yes, a case of ego maybe winning over his sensible side. Sadly, as predicted, those users remaining on twitter are already being slandered as MAGA by those precious celebrity egos leaving.
 

Cloud Strife

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Sadly, as predicted, those users remaining on twitter are already being slandered as MAGA by those precious celebrity egos leaving.

That's because there is a significant and vocal MAGA presence on Twitter. They feel empowered by Musk taking over, and the celebrities (and advertisers) are now bailing from Twitter as a result.
 

AlterEgo

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Wasn't a recent example of Tesla "innovation" was that after a software upgrade it could make fart noises?
Yeah, you could customise the ambient noise the car makes to the outside. Someone did a video on YouTube of it saying “bruh” over and over again as it drove.

Let’s face it, your car and my car can’t do that. Tesla are so far ahead. :lol:

That's because there is a significant and vocal MAGA presence on Twitter. They feel empowered by Musk taking over, and the celebrities (and advertisers) are now bailing from Twitter as a result.
It is kind of reassuring to know that, in general, if you make a horrid environment full of trolls, people will simply leave.
 

Cloud Strife

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Let’s face it, your car and my car can’t do that. Tesla are so far ahead. :lol:

Honestly, this is exactly why I think Musk is going to end up losing control of the lot. Tesla has serious issues that need to be addressed, changing the ambient noises to the outside is totally pointless and takes up valuable resources.

It is kind of reassuring to know that, in general, if you make a horrid environment full of trolls, people will simply leave.

They will leave, or simply not join. There's been so many attempts at making a hard right wing 'muh freedom' social media site, but none of them have figured out how to deal with the fact that their users are statistically very undesirable for advertisers, and their users also won't pay for access to the site. And then there's the issue that 'muh freedumb' types also crave attention, so they don't want to post in an echo chamber anyway.

The weird thing for me: why does Musk want to court those people anyway? It's not as if they can really bring him very much.
 

jon0844

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I assume 50% of the workforce going will make a difference to what Twitter does or can do.

Sure, he saves on salaries but what does the company do without them? Will he replace them with 'his' people and who would be mad enough to apply?
 

brad465

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I assume 50% of the workforce going will make a difference to what Twitter does or can do.

Sure, he saves on salaries but what does the company do without them? Will he replace them with 'his' people and who would be mad enough to apply?
While there are cases of bloated workforces that need to be cut back, usually that doesn't mean an existing workforce is double what's necessary. If many of the cutbacks lead to much reduced moderation of content, it would fit in with Musk's aspirations but also hasten the withdrawal of advertising and overall user numbers.
 

gingerheid

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It's interesting that he was saying that he overpaid and tried to get out buying it...

... I.e. he admits lying to the court...
 

Cloud Strife

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CNN are reporting that up to 1300 Starlink terminals are inactive in Ukraine.


Ukraine’s fears that its troops  may lose access to Elon Musk’s crucial Starlink internet service deepened in the past week after 1,300 of the military’s satellite units went offline, according to two sources familiar with the outage.

On one hand, he's clearly trying to hold the Pentagon up for more money. On the other hand, if this is how he treats a US ally, then the US Department of Defence will be looking at a more reliable partner.
 

Cdd89

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Thing is, if Twitter wasn’t profitable under the old model, and isn’t viable under a model of user-payment and reduced staffing (because people leave), then it was always going to be doomed.

The interesting discussion IMO is around what business model, if any, would actually make it work. I’m not convinced “user pays” is a dead duck.
 

jon0844

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I would have assumed advertising and promoted Tweets, as well as charges to businesses that need to send a lot of Tweets per day (and use the business tools that give extra analytical data etc) would make it possible to make a profit if the business was well run and lean.

However, like all of these services, they have huge debts and rely on constant investment with profitability just around the corner. Twitter ran for too long without the means to generate income, and now Elon seems set to take the company back there.
 

JKF

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Not managing well financially and now with an added billion a year in interest payments to pay back the purchase cost (the Glazier financial model as practiced at Man U). How is this even doable/legal? Basically buying something with money you don’t have.

I guess whatever tax break him and his billionaire accomplices get from Trump in his second term will be worth the financial outlay.
 

takno

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Not managing well financially and now with an added billion a year in interest payments to pay back the purchase cost (the Glazier financial model as practiced at Man U). How is this even doable/legal? Basically buying something with money you don’t have.

I guess whatever tax break him and his billionaire accomplices get from Trump in his second term will be worth the financial outlay.
He bought it with quite a lot of money, and at the time the deal was brokered the banks who lent the cash into the company were willing to take on the risk that came with the debt. Ultimately if Twitter goes down then the big losers are Musk, his associates and the banks. All the previous owners got paid what the company was worth, or actually what the company was worth plus at least 50-70%.

I know the whole thing sounds sketchy, but in financial terms it isn't.
 

Cloud Strife

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And so it continues: Musk himself admits that their revenues have dropped considerably.


Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists.

Extremely messed up! They’re trying to destroy free speech in America.

Combined with the huge amount of negative PR from the way that they've treated employees, it's going to be very, very hard for Twitter to get back to even where they were two weeks ago.
 

birchesgreen

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Mitch McConnell's former chief of staff tweeted that these "left-wing" corporations who pulled their advertising should have to explain their actions to a House panel. That's wild.

Edit: Ah i see Elon is threatening to name and shame these advertisers who have pulled out. Wow i'm sure that will reassure them and bring them back. Or maybe scare off whoever is left.
 
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DelW

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And so it continues: Musk himself admits that their revenues have dropped considerably.

"Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists.

Extremely messed up! They’re trying to destroy free speech in America."


Combined with the huge amount of negative PR from the way that they've treated employees, it's going to be very, very hard for Twitter to get back to even where they were two weeks ago.
It's a bizarre stretch to characterise advertisers removing their business from one particular company as "trying to destroy free speech". I wonder how long he'd last in a country which really had prevented free speech by locking up anyone critical of the authorities.

Presumably he can't cope with the idea that advertisers simply don't want to be associated with a toxic, arrogant, character like himself.
 

dgl

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Mitch McConnell's former chief of staff tweeted that these "left-wing" corporations who pulled their advertising should have to explain their actions to a House panel. That's wild.

Edit: Ah i see Elon is threatening to name and shame these advertisers who have pulled out. Wow i'm sure that will reassure them and bring them back. Or maybe scare off whoever is left.
He hasn't realised that free speech also means that companies can decided no to support things they or their users/customers don't like, naming and shaming would just be free adverts to said companies.

As for electric cars, supposedly the Kia EV6/Hyundai Ioniq 5 are the ones to buy at the moment, and even better they don't have BL build quality!
 

Cloud Strife

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He hasn't realised that free speech also means that companies can decided no to support things they or their users/customers don't like, naming and shaming would just be free adverts to said companies.

Usually, those demanding 'free speech' actually don't want others to have it.

He's now claiming that Twitter is losing around $3m a day, and now he wants to dramatically cut back on Twitter's infrastructure spending. If the website doesn't work well, advertisers will pull more adverts, and so they're going to lose even more money.
 

jon0844

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Didn't take long to blame the left and the woke, after saying it would be a free and open platform for all.

Doesnt Elon see how supporting the extreme right cannot ever pay off?
 

brad465

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He bought it with quite a lot of money, and at the time the deal was brokered the banks who lent the cash into the company were willing to take on the risk that came with the debt. Ultimately if Twitter goes down then the big losers are Musk, his associates and the banks. All the previous owners got paid what the company was worth, or actually what the company was worth plus at least 50-70%.

I know the whole thing sounds sketchy, but in financial terms it isn't.
Let's hope none the said individuals/institutions demand taxpayer bailouts because of this one saga.

Mitch McConnell's former chief of staff tweeted that these "left-wing" corporations who pulled their advertising should have to explain their actions to a House panel. That's wild.

Edit: Ah i see Elon is threatening to name and shame these advertisers who have pulled out. Wow i'm sure that will reassure them and bring them back. Or maybe scare off whoever is left.
I doubt the companies have much to worry about, Musk's supporters won't be a significant number to cause problems for those companies if they boycott it, while most moderates who use those companies either won't know what's going on here or not be swayed into looking elsewhere. There may even be some extra customers from those opposed to Musk's antics who want to show support to the companies cutting ties with Twitter.
 

Cloud Strife

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Doesnt Elon see how supporting the extreme right cannot ever pay off?

I am seriously, seriously surprised that senior bankers involved in financing this deal haven't told him to frankly shut up. But the cynic in me wonders if he hasn't leveraged his Tesla and SpaceX shareholdings, so they might be quite happy for Twitter to implode as they'll get control of Tesla/SpaceX in the process.

But seriously, you'd think that he would take a basic look at how other far right platforms have fared (i.e. badly) and realise that you can't build a successful internet company around 'muh free speech'.
 

AlterEgo

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I am seriously, seriously surprised that senior bankers involved in financing this deal haven't told him to frankly shut up. But the cynic in me wonders if he hasn't leveraged his Tesla and SpaceX shareholdings, so they might be quite happy for Twitter to implode as they'll get control of Tesla/SpaceX in the process.
And Twitter. The bankers will love owning Twitter if and when he defaults.

I’ve always disliked Musk but I am still surprised at how quickly he’s managed to cock this up.
 

Cloud Strife

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I’ve always disliked Musk but I am still surprised at how quickly he’s managed to cock this up.

He would have got away with the mass sackings and other things, but the Paul Pelosi conspiracy stuff really enraged a lot of people. He sent absolutely the wrong message to advertisers with that, because it showed that Twitter will tolerate the existence of really wacko stuff because the boss posts it too.

I'm not surprised that he's messing it up. It doesn't seem that he wanted Twitter for anything other than his personal vendettas, and it shows.
 

jon0844

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I am seriously, seriously surprised that senior bankers involved in financing this deal haven't told him to frankly shut up. But the cynic in me wonders if he hasn't leveraged his Tesla and SpaceX shareholdings, so they might be quite happy for Twitter to implode as they'll get control of Tesla/SpaceX in the process.

But seriously, you'd think that he would take a basic look at how other far right platforms have fared (i.e. badly) and realise that you can't build a successful internet company around 'muh free speech'.

He has been told to be quiet before, getting in trouble for talking about shares. And we must all remember how he manipulated crypto with supporting (and then not supporting) coins that he managed to massively control just because he is who he is.

The Pelosi stuff has got really out of control now.

But seriously, you'd think that he would take a basic look at how other far right platforms have fared (i.e. badly) and realise that you can't build a successful internet company around 'muh free speech'.

I think he's just another narcissist who can't see a lot of obvious things because he just likes the attention and (supposed) support from his loyal fanbase. And he has quite the following, with people still insisting he's come amazing inventor and has a genius mind.
 

GusB

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I have to admit that I'm baffled by the way Musk is revered as some kind of deity. I watched the three-part Elon Musk Show on BBC iPlayer last week and he comes across as a spoiled brat and, when it comes to industrial relations, a massive bully. I wouldn't want to work for him.
 

brad465

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I have to admit that I'm baffled by the way Musk is revered as some kind of deity. I watched the three-part Elon Musk Show on BBC iPlayer last week and he comes across as a spoiled brat and, when it comes to industrial relations, a massive bully. I wouldn't want to work for him.
“The forest was shrinking but the trees kept voting for [or supporting] the axe, for the axe was clever and convinced the trees that because his handle was made of wood, he was one of them.” Turkish Proverb.

This particular tweet reveals there is form for a media mogul buying a media platform for big bucks, only to sell it for peanuts in later years:


In 2005 Rupert Murdoch paid $580m for MySpace. In 2009 he sold it for $35m In 2013 Yahoo paid $1.1bn for Tumblr. In 2019 they sold it for $3m. In 2022 Elon Musk paid £44bn for Twitter. <To be continued...>
 

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