X (formerly known as Twitter) now worth ~70% less than what it was when Musk took over according to Fidelity.. why do you think its value has fallen so much?

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Because its value was inflated in the first place. Also some advertisers pulled out. However it’s still pretty astonishing that they laid off half the staff and it still runs perfectly. Tech companies were overburdened by non value add product managers making day in the life tiktok videos and doing nothing helpful lol

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I wouldn't say it runs perfectly. I've had tons of technical issues since he laid off people, but the worst issue is the lack of moderation and increased harassment. I wouldn't say it's easy to be anything other than a white hetero male on the platform. The number of abusive and hateful comments I've seen is astonishing.

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Lack of proven revenue stability, no confidence in leadership improving the reasons companies are not advertising.
Leadership specifically stating, don't advertise.
Unable to monetize user base.

likesmart

Cause Musk is a moron and twitter was useless to begin with. Imagine being worth 70% less than nothing, only Elon 🤡

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Flag on the play, appeal to authority. Whatever you make of Elno’s alleged accomplishments or director’s relative lack thereof doesn’t make any given behavior by Musk less moronic

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Is fidelity in a good spot to gauge its value?

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They were an investor for Elon to purchase

Musk has literally said it wasn’t purchased with the goal of being a financial investment alone. Primarily it is an investment for society.

Not sure how much I believe in its beneficial impact to society, but he is so wealthy, I don’t think he cares about the money as much as some other people do.

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It’s more toxic than Fishbowl, and at least here there are no large or small accounts to favor

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This.

Elon claims that X is the “town square” but it is far from it. I had a run in with a company awhile back and took to twitter to inform the world of this company’s immoral behavior. I never used any foul language and everything I said was truthful and substantiated. Yet Twitter ended up banning me from the platform.

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Jury is still out for me on whether I believe it is as free speech oriented as they claim. I still think it is better than it was before though.

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loss of government revenue for censorship.

The twitter was already overvalued before Elon took over, the future prospects of the company looked a lot better before and that was priced in market. I really can’t understand why Elon bought at such a premium when it was already overvalued

He is an idealist. He bought it because freedom of speech was being infringed upon by government agents censoring and silencing people that challenged them. Elon doesn't care about the money he cares about the First Amendment.

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