The $44b Twitter Dumpster Fire Continues Raging

in LeoFinance4 months ago


Is it getting hot in here, or is it just me?

When you thought the whole Elon Musk Twitter situation was dying, the flames continue to be stoked.

Not even a day after the $8 for blue tick verification had begun, Twitter descended into chaos. A plethora of accounts imitating politicians, game characters, celebrities and sporting figures.


And to keep the flames burning, Elon Musk has instituted his anti-work-from-home policy at Tesla on Twitter. Oh, and then more recently, you have Elon Musk arguing with ex-Twitter employees about the cost of the free food in the cafeteria, with the person who previously ran the program nonetheless.


Returning to the $8 paid blue tick program for a moment. Anyone could have told you this was a bad idea. After people started to impersonate brands, something magical happened. The stock prices of companies started to be negatively impacted.

Perhaps the greatest thing Elon did with this $44 billion purchase was created one of the best anti-capitalist tools.


Some hero created a fake Eli Lilly and Co Twitter account for only eight dollars and then announced that insulin is free. This fake announcement tanked the share price by almost 4.5%.

And the subsidised anti-capitalism did not stop there.

Lockheed and Martin were next. A whopping 5.5% was wiped from their stock value, amounting to billions.


And after making business decisions as he went along, Elon announced that Twitter was killing the botched blue tick for everyone program.


It's hard to believe that this is the same Elon Musk that was once championed as the saviour of humanity. The guy who helped create PayPal then pursued electric vehicles, reusable spacecraft and other endeavours. We are seeing Musk turn into the same decrepit salty dried-up conservative that other wealthy people like Donald Trump seem to become as they age.

Some men go through a mid-life crisis and buy a motorcycle or another purchase that can be reconciled. Elon bought a $44b social media platform and is now singlehandedly burning it to the ground. The fire is easily extinguishable if only Elon would stop pouring diesel onto it.

I get it. Musk has a lot to prove, and I think he may also be on the spectrum. But, the more people criticise or question his motives, the more he feels he has to prove himself. The mainstream media are just as much to blame for his crazy actions as Elon himself is.

What's the end game? Because it appears Twitter is in the early stages of a death spiral right now. There are only so many staff you can fire and free food you can take away before savings opportunities become more difficult.

It's like watching someone buy an expensive sportscar, drive it out of the dealership and then crash it into a parked car. It's painful, but I can't bring myself to look away. The inner anti-capitalist in me is cheering Elon on to keep burning it to the ground. The internet town square is currently resembling an internet forest fire.

You can't make this stuff up. The Netflix documentary they will be making about this entire acquisition is writing itself.


It's a matter of perspective.
I have seen that one $8 troll has a higher market power than hundreds of thousands of analysts, bankers, trade journalists, traders and others living in this bubble. He has shown that bubbles are just one thing, stale air surrounded by a shimmering, greasy film that shields the inside from the real world.

Whether EM wanted that or it was just a side effect doesn't matter, since that act everyone knows what real world power is in Twitter...

I would buy Twitter shares if there were any left.

Posted Using LeoFinance Beta

Nice post! You just got a visit from the Leo's decentralized curation crew for making amazing content on Leo Finance 🦁💪

Today is Leo Power Up Day, don't forget to check the announcement!


Posted Using LeoFinance Beta

Congratulations @beggars! You received a personal badge!

You powered-up at least 150 LEO on Leo Power Up Day!
Thank you for participating in the Leo Power Up day.

You can view your badges on your board and compare yourself to others in the Ranking

Check out the last post from @hivebuzz:

HiveBuzz World Cup Contest - Collect badges and win prizes - 4518 HIVE prize pool
Support the HiveBuzz project. Vote for our proposal!