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How do you know he tanked twitter? It wasn't profitable when he took over and now that it's a private company you don't have insight into the financials. Wheth
by knownastron 2y ago
How do you know he tanked twitter? It wasn't profitable when he took over and now that it's a private company you don't have insight into the financials.
Whether you like or don't like the politics/policies of the company since he's taken over, it's not clear whether he's made Twitter more or less viable as a company going forward.
- infotogivenm 2y agoFidelity, who remains a stakeholder in the private company and gets insight to internal financials, has cut the valuation of their holding by 75% so far [1]. While twitter might not have been profitable when purchased, it was structured as a growth stock (that is, expected to invest most profit back into the product, in order to continue to multiply revenue) and had yearly revenues of $5B. 1. https://fortune.com/2024/03/30/fidelity-x-stake-73-decline-since-elon-musk-twitter-takeover/# https://fortune.com/2024/03/30/fidelity-x-stake-73-decline-s...