In a January email to staff, Musk pointed to the company’s growing influence and power, but said the finances remain problematic.
“Our user growth is stagnant, revenue is unimpressive, and we’re barely breaking even,” he said in the email, which was reviewed by The Wall Street Journal.
Geee I wonder what could have caused this?
This certainly hasn’t helped.
Why do I keep seeing this particular comparison? It’s the least obvious part of the whole thing. The rest was clearly a Nazi salute. Without that context you may think he’s clutching his chest because he’s having a heart attack or something.
Edit: nevermind I’m just dumb. I guess gifs don’t auto load on my Lemmy client anymore. I swear they used to.
Ya this is just a still image in Mlem
The App Store version of Mlem doesn’t support gifs just yet, but the beta version does.
Sweet! I’ll sign up for test flight!
Voyager is my favorite
Mlem is vastly better.
In what way?
I switched to Voyager from mlem a while back and want to know what’s better now?
I mean … gifs not working in the App Store version isn’t a great sign fwiw
Voyager seems to try to be an exact clone of Apollo, even when Apollo had things it didn’t do correctly. Mlem has much better commenting imo, for example I can pull down my reply box without closing it, in order to reread over comments in the thread or scroll around, and then pull it back up to continue replying. I also think Mlem is just more responsive, including with images. Though voyager has more features with images.
I had no clue that the App Store version hadn’t been updated though. I think many people using Mlem are on the TestFlight.
I did like the commenting in mlem, I’ll give you that.
Yeah great, but it’s apple only.
Interesting, I thought I had tried all the lemmy clients. Don’t think I’ve heard of this one. I’ll give it a shot, thanks.
Working on summit
Connect for Lemmy works pretty good imo.
I wish it said what the effective yield will be for bond purchases if they sell for the expected price. Is that yield consistent with other bonds with similar ratings?
Holy shit, this is going to be hilarious. Imagine the fuckbrains who’d buy this shit.
Shell companies for a Russian front.
That’s libelous. There will also be shell companies for Saudi Arabia and China.
Just like the trump shoes, and probably most of his grifts
They’re talking getting 5 or 10 cents for every dollar of debt. Which roughly means the buyers need a 5 to 10 percent chance of getting their money back for the deal to make sense (interest rates complicate the EV calculation, and it’s not clear what those are).
This is the banks writing it all off and getting whatever they can out of a bad deal. The buyers will probably make money on the deal, even if Xhitter goes into liquidation.
But what could there be to liquidate? Server racks? They don’t even own the offices, it’s all rented.
Right. There aren’t assets there to take and sell. Offices are rented. Equipment depreciates really fast as technology moves on. IP rights are not worth that much since there are many alternatives and some technologies they developed are unique to their own tech stack, and the trademarks are radioactive garbage.
Liquidators go through everything. Five toilet rolls in what was an 8-pack? Liquidate it.
IIRC, bankruptcy puts creditors in order, with employees getting whatever pay they’re owed first in line, then debtors, and whatever might be left goes to investors. When you paid 5 or 10 cents on the dollar, you don’t have to get much back for the deal to be profitable.
I think you’re missing the point. There are no physical assets. There is users and engagement. That can be used to push a narrative or to sell advertising. As users leave, neither works and there is nothing to sell.
There are physical assets, though. Hopefully enough to pay employees, and possibly enough for this deal to be profitable. It’s a risk, but not a crazy one.
Yes, there are, but minimal physical assets. That’s the point. They likely aren’t even enough to pay employees.
Banks will be lucky to sell for as much as 10 cents on the dollar, especially as all loans might be unsecured.
Banks should package in a shitcoin, that would pay itself out, since those investors are used to losses now 😜
This could potentially be another title for this:
Wall Street Banks Now Looking for Right-Wing Plebs to Hold the Bag🧑💼🗣️ 🤗…💰💸😱😢🙃
Wasn’t X not paying it bills? (Rent, employees, utilities)
Of course, how else is it supposed to make money?
