- cross-posted to:
- technology@lemmy.world
- cross-posted to:
- technology@lemmy.world
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Hahahahahahahaha hahahahahahahaha!!!
What’s X? Oh right… he’s still sticking with that huh?
“I told you, my name’s not Steve anymore. You have to call me Dragon Master!”
“Turning a profit early 2024” if they manage that it would be kinda impressive but I wonder if the platform has any chance of longevity after reducing the staff by over 80%? I can’t imagine staying there if I was a skilled engineer, it just feels like such a cutthroat way of doing business and what do they stand to gain? When they could go to another, far more stable firm like Facebook, Google or Microsoft. And the longer they stay the more stained their CV is going to be I feel, unless X manages to defy the odds and actually succeed in this reconstruction of sorts.
On the other hand, the website’s still up (I guess) so if you’re part of the 20% that wasn’t considered useless that might a big plus for you
If the equity is worth $19 billion, and the debt is worth $13 billion, that’s a drop of $44 billion to $32 billion. Still hilarious, although not as dramatic.
The equity is merely an estimate; it’s no longer a traded company so a public valuation is not applicable. The value is still a valid valuation, just as DJT’s valuation of his properties were “valid,” but it’s not as if you can sell portions of the company tomorrow to generate cash that will settle in three days, like you could with Tesla. And the debt is secured by the $19B valuation, so it’s not in addition to the equity; the company is “worth” $19B but caries a debt burden of $13B making it’s liquidation value $6B (not really book value since that includes “good will” and “future performance”, not just the value of it’s real, personal, and intangible/code/patent properties).
This cardboard box is worth the same as a Lamborghini! I promise!
It was only 4 billion yesterday. Seems it’s on the up!
imagine destroying one of the world’s most recognisable brands in less than a year
I don’t believe this at all.
That’s actually pretty impressive, given that he 10x overpaid for it.
