Many a Titter about Twitter as Musk Bungles his Big Purchase

Dust off your shovels! Elon Musk has bought himself into a $44bn hole, and you’re expected to dig him out of it…. Since Elon Musk’s official takeover of Twitter on The post Many a Titter about Twitter as Musk Bungles his Big Purchase appeared first on CFI.co.

Nov 9, 2022 - 23:09

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Dust off your shovels! Elon Musk has bought himself into a $44bn hole, and you’re expected to dig him out of it….

Since Elon Musk’s official takeover of Twitter on October 28, the social media platform has been suspended in a chaotic free-for-all.

None of which is his fault, of course. A 500 percent rise in the use of hate-speech? It has nothing to do with Musk’s history of using alt-right dog whistles to build a rabid fanbase. It’s just trolls. Advertisers running for the hills, leading to a massive loss in revenue? Only a naive person would think it has anything to do with Musk laying off thousands of employees (in a potentially illegal move), firing a few executives, repeatedly insulting his new customer base, and offering no transition plan. Woke activists are to blame for that. It could be worse, though; it could be aliens trying to sabotage his latest venture.

Really, we should feel lucky we get to witness such incredible business acumen in real time: for example, pricing your new product at $20 and then immediately lowering it to $8 because Stephen King said something mean. Or promising to end the current “lords and peasants” verification system but ensuring users can only access key safety features if they can afford to. After all, it’s a move that has worked incredibly well for Tesla, where car users can access child-culling — sorry, self-driving! — mode for an extra $15k.

Musk tweeted “you get what you pay for” in the meantime, but that’s coming from the man who just paid $44bn for a company that brought in $5bn of revenue last year, and zero dollars in profit.