Friday night is a good time to announce you’re not paying your bills.
    • Whirlybird@aussie.zone
      11·
      11 months ago

      Imagine paying a subscription just to be eligible for ad revenue coming from impressions of your own content. Literal cucks.

      If you can pay $8 a month and make $5k a month from that $8, how exactly does that make someone a cuck?

  • IHeartBadCode@kbin.social
    2·
    11 months ago

    In July, Musk tweeted about Twitter / X’s financial situation, saying, “We’re still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load.”

    Advertising could be up two fold for all it matters. You sack a company that last turned an annual profit in 2019 with $44B in debt, it won’t matter if Musk is shitting gold bricks. You can’t pay that size of debt off fast enough. To just get started on that debt Musk would need to make Twitter twenty times more profitable than their 2019 profit. And even then that debt is going to be a monkey on his back for forty years in ideal conditions.

    That $44B isn’t chump change for Twitter, like maybe if Tencent took a sudden $44B debt they’d make good on it, but they’re wildly profitable. Twitter barely gets by and has only gone on this long because of the Tech Bro funding that all but dried up when the interest rates were going up.

    • EnderWi99in@kbin.social
      01·
      11 months ago

      What’s funnier is it was already dying. It hasn’t made any actual positive revenue since 2019 and then Musk dumped another $44B in debt on top of it. It really never had a chance and I think his original bid was either a troll he never intended to follow through with, or he was banking on leveraging all the blockchain and NFT stuff that recently also shit the bed. Either way, he’s fucked himself out of at least a small chunk of his fortune. Well, at least until the rest of the market catches Tesla and their hyper inflated market cap finally also goes sideways.

      • Whirlybird@aussie.zone
        1·
        11 months ago

        Musk dumped another $44B in debt on top of it.

        He bought it for $44B, he didn’t put $44B in debt on it.