Eh. He doesn’t pay rent to cut costs, he fires to cut costs. All of this is because he wants to run twitter as a nazi platform that doesn’t have advertising backing. Advertising is the only reason a free service like Twitter can exist, and the nazis are the reason that the advertisers left.
It’s also because he overpaid for it. It’d be in bad but recoverable shape without this behavior and his desire to run it as a Nazi platform. But all of it is connected. He wouldn’t’ve made the hasty decisions to purchase if he didn’t want to run it as a Nazi platform and struggle with impulse control, but also had he found himself in the position of owning it with the massive loss in value from purchase price caused by his waiving of due diligence at the worst possible time he still could’ve hunkered down and treated it like a company he owns and wants to be profitable. From there he could cut costs at reasonable pace, listened to management as to how to minimize headcount, and done market research to maximize value to shareholders. But most notably he could’ve done reasonable cost cutting and made it a Nazi platform. It was gonna hemorrhage money either way. He just decided to be an idiot about it.
So what’s the problem with it? Elon. Not one single facet of him, though his impulse control is likely high up there, but all of him. At every point he’s making the decisions that ordinary people can see are financially unwise against all advice of experts and professionals. Decisions he should know better than to make.
He’s also the only shareholder now AFAIK, though that’s based on loans, so those lenders can do a takeover of sorts (maybe? I’ve only read some headlines claiming that)
Eh. He doesn’t pay rent to cut costs, he fires to cut costs. All of this is because he wants to run twitter as a nazi platform that doesn’t have advertising backing. Advertising is the only reason a free service like Twitter can exist, and the nazis are the reason that the advertisers left.
It’s also because he overpaid for it. It’d be in bad but recoverable shape without this behavior and his desire to run it as a Nazi platform. But all of it is connected. He wouldn’t’ve made the hasty decisions to purchase if he didn’t want to run it as a Nazi platform and struggle with impulse control, but also had he found himself in the position of owning it with the massive loss in value from purchase price caused by his waiving of due diligence at the worst possible time he still could’ve hunkered down and treated it like a company he owns and wants to be profitable. From there he could cut costs at reasonable pace, listened to management as to how to minimize headcount, and done market research to maximize value to shareholders. But most notably he could’ve done reasonable cost cutting and made it a Nazi platform. It was gonna hemorrhage money either way. He just decided to be an idiot about it.
So what’s the problem with it? Elon. Not one single facet of him, though his impulse control is likely high up there, but all of him. At every point he’s making the decisions that ordinary people can see are financially unwise against all advice of experts and professionals. Decisions he should know better than to make.
He didn’t even want to buy it, he was trying to pump and dump, the court made him go through with the purchase.
He’s also the only shareholder now AFAIK, though that’s based on loans, so those lenders can do a takeover of sorts (maybe? I’ve only read some headlines claiming that)