Elon Musk May Have Just Signed X’s Death Warrant

[-] gomp@lemmy.ml 103 points 7 months ago

Death warrant? Maybe, but I expect companies (maybe not the EU, but - let's be frank - probably the EU too) to go back into X as soon as they feel they are done cashing in this virtue signaling.

There were plenty of reasons to leave twitter before this idiotic tweet from Musk (reasons due to twitter's action as a company, and not just Musk's drunken posts) and they were all happily tweeting and advertising.

Is this drop that breaks the camel's back? Maybe, but I wouldn't be holding my breath.

[-] SloganLessons@kbin.social 32 points 7 months ago

My chips are also on them coming back, but at the same time it feels like Musk wants to make Twitter's business harder than it needs to be.

This reaction doesn't come from the last tweet itself, instead it comes from him not stopping with hot takes and not showing any signs of slowing down.

If he keeps going, I could see companies just accepting "it is what it is" and coming back, but at the same time it also feels like he's one tweet away from going too far for most companies. And it's not like Twitter is a strong social media anyway, they are not even in the top 10 social medias in terms of active users count: https://www.statista.com/statistics/272014/global-social-networks-ranked-by-number-of-users/

Maybe these companies may also decide that dealing with Twitter is more trouble than it's worth. But we'll see

[-] logi@lemmy.world 4 points 7 months ago

Well, that was certainly decisive.

[-] SuckMyWang@lemmy.world 3 points 7 months ago

I don’t think x’s value is from the number of users. It’s the type of powerful people on it and the headline style format the multiplies it’s impact across the information space. It still sucks though

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[-] zartcosgrove@beehaw.org 21 points 7 months ago

"cashing in this virtue signaling"

Not wanting to be associated with the Great Replacement theory is "virtue signaling"

Tell me you're a right wing shill without telling me you're a right wing shill

[-] onlinepersona@programming.dev 16 points 7 months ago

He's right. They don't care about what's on X as long as there isn't negative publicity. It has nothing to do with being right-wing. If anything, it's quite left-wing to believe that companies only care about the baseline.

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[-] Swallowtail@beehaw.org 11 points 7 months ago

I have very little faith in businesses to do the right thing for the right reasons. Publicly traded companies in the US literally can't do that legally if they think it will hurt their bottom line.

[-] generalpotato@lemmy.world 5 points 7 months ago

X is a shit company that doesn’t need to exist anymore but I’m equally tired of companies virtue signaling behind causes. Like, fuck off, I don’t need you to tell me that you’re “invested” in “human rights” or “causes” when you treat your workers like shit and fail to provide your retail workers a minimum wage for example.

X and these other companies virtue signaling behind causes for profit/marketing goodwill can all go to hell.

[-] trash80@lemmy.dbzer0.com 56 points 7 months ago

I hope so. I'm so fucking tired of hearing about it.

[-] SnotFlickerman@lemmy.blahaj.zone 17 points 7 months ago

It would be amazing if there were any sort of consequences for this clown, or any other rich clown, honestly.

I think part of the reason bad behavior has been so normalized among the general populace is because they're seeing such bad behavior from "the elites" that they "look up to" so they think that since those "rich, successful men" act like that without consequence, it must mean that behavior is okay.

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[-] FewerWheels@mander.xyz 49 points 7 months ago

So the radical free speech guy is going to sue someone for what they said? Sounds spot on for Musk.

[-] duncesplayed@lemmy.one 4 points 7 months ago

Wait, I don't see that in the article. Who's he suing now?

[+] FrigidAphelion@lemm.ee 44 points 7 months ago

[deleted]

[-] HeartyBeast@kbin.social 17 points 7 months ago

Inertia. In the UK, for example, every local government council, the NHS, central government, charities etc use user Twitter//X as a free channel for announcements and publicity. Quite often they manage it though things like Hootsuite that lets the, plan and manage and cross-post to Facebook etc.

Deciding to quit that is quite a major step - especially when there isn't really a clear single alternative that has similar reach and userbase.

[-] qupada@kbin.social 10 points 7 months ago

Except that they've ruined that too. You now need an account to view anything, so the reach of announcements is greatly diminished.

At this point leaving shouldn't really be too difficult, since a large portion of your audience already has; because they've been shut out, or have quit voluntarily.

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[-] Carnelian@lemmy.world 3 points 7 months ago

Many who remain actively want to spread hate

[-] uriel238@lemmy.blahaj.zone 44 points 7 months ago

How cheap does X have to get before it can be bought by a non-profit, turned into a co-op and renamed twitter?

[-] quicken@aussie.zone 24 points 7 months ago

It's no longer a public company. So it can be bought when Musk chooses to sell. Or if he defaults on his loan then it may go to banks but they really don't want it and have already written off their loan to him.

[-] intrepid@lemmy.ca 30 points 7 months ago

Why exactly do normal people with small defaults have 'collection agents' sent after them, while billion dollar defaults are written off? Isn't that supposed to be the other way around?

[-] blindsight@beehaw.org 7 points 7 months ago

It's all to do with the terms of the contract and collateral.

Bonds are guaranteed by the collateral of the ownership of the company. If the company defaults on their loan, then ownership transfers to the bond holders, so the bond holders now own all the equity in the company (and previous equity holders get nothing.)

There are no collections agents for companies because once they default, all of that is essentially triggered automatically contractually. There's a bit of wiggle room with negotiating changing terms on the loans and such before a default happens, but that's the broad strokes.

[-] ergifruit@lemmygrad.ml 3 points 7 months ago

because it's easier to come after real people, since we don't know all loopholes, can't jerk them around indefinitely, have no individual power, can't afford lawyers, and are all around an easier mark.

[-] schnurrito@discuss.tchncs.de 17 points 7 months ago

and then federate with Mastodon?

[-] TootSweet@lemmy.world 36 points 7 months ago

Two-panel meme image of a guy saying in the first panel "oh no" and in the second "anyway."

[-] KingThrillgore@lemmy.ml 34 points 7 months ago

I've heard this said for months now

[-] linearchaos@lemmy.world 5 points 7 months ago

Yeah, it's only a death warrant for conventionally run companies. He can run it into the ground as deep as his pockets will let him. And according to Forbes that's still relatively deep, deeper than they should be anyway.

I kind of suspect he's up to something. Maybe he's grooming it for a political ad platform. Although it's equally possible he just loves watching everybody flip the hell out, One hell of an expensive hobby if so.

[-] carl_dungeon@lemmy.world 29 points 7 months ago

We can only hope

[-] sour@kbin.social 28 points 7 months ago

did people stop deadnaming twitter

[-] JGrffn@lemmy.ml 19 points 7 months ago

Right? Twitter hasn't stopped dead naming Twitter, for fuck's sake

[-] NutWrench@lemmy.ml 18 points 7 months ago

Musk only buys things that he thinks will keep his name in the news, and he's always looking for that next bong-hit of attention.

Nobody likes him. Nobody cares about him. And he makes it so obvious WHY with his racist, apartheid bullsh*t.

[-] mp3@lemmy.ca 17 points 7 months ago

We've yet to see any regulatory actions with real consequences, so yeah I doubt it.

[-] Goun@lemmy.ml 4 points 7 months ago

A $50 fine or something

[-] RobotToaster@mander.xyz 10 points 7 months ago

Haven't people been saying that since before he even bought it?

[-] Varyk@sh.itjust.works 10 points 7 months ago

Knew he was good for something

[-] Therealgoodjanet@lemmy.world 10 points 7 months ago

Good. I hope it goes under.

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[-] nyakojiru@lemmy.dbzer0.com 7 points 7 months ago

the guy don’t give a single fuck, people don’t get that he don’t care about loosing money.

[-] MrScottyTay@sh.itjust.works 5 points 7 months ago

Can we please stop posting business news here

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