Why you should NEVER believe Elon Musk! (Part 33 ⅓)
Source: YouTube · Thunderf00t · published Nov 23, 2022 · 19:41
The video argues that Elon Musk's acquisition of Twitter for $44 billion—roughly three times its actual value—was a catastrophic financial decision driven by his desire to divest from Tesla stock, which has simultaneously lost half a trillion dollars in value 0:003:07.
Key Takeaways:
• Musk drastically overpaid for Twitter, selling over $37 billion in Tesla stock to finance the deal despite previously vowing his money would be the "last out" of the company 2:07.
• Under Musk's leadership, Tesla's market capitalization plummeted by approximately $500 billion in a single year, equating to a loss of about $1 million per minute 3:074:50.
• Musk's management of Twitter has been chaotic, involving mass layoffs that reduced staff to as low as 10-20% of original levels and alienating advertisers who provide 90% of revenue 8:2110:35.
• The implementation of a paid verification system led to widespread impersonation scams, while the platform struggled to control bots despite claims of improved efficiency 8:4514:47.
The video concludes that Musk's erratic decision-making and tendency to ignore prior commitments have severely damaged both Tesla's value and Twitter's stability 18:24.
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First 800 characters of the transcript
Twitter before Elon Musk was cancer no sane man would buy twit so Elon Musk bought Twitter and paid 44 billion dollars for it whereas Twitter is actually worth probably somewhere near a 13 billion dollars he paid roughly three times what it was worth in car negotiation terms it's not so much Elon Musk did this okay the sticker says 55 000 but will only go as high as say 60 thousand musk went in and saw a car at the price of fifty thousand and managed to haggle them all the way up oh I will have to ask my manager he is not too happy I'm sorry eighty thousand still not in musk's League you would have to go up to a hundred and fifty thousand to be a smarter negotiator as Elon Musk he paid 30 billion dollars over the odds but he didn't have the money to buy it outright so he had to sell Tesla …