zlacker

>>prawn+(OP)
So this is how Twitter goes out: not with a bang but with a seemingly endless stream of stories about the little ways Elon is ruining the service each day.

Just staggers me that Elon could have just… not done any of this. And yet here we are. He’s had to sell billions in Tesla stock to finance this ongoing mayhem, this is surely going to be up there as one of the greatest examples of hubris in modern business.

>>afavou+n6
I think Twitter was long dead. It just had no prospect of making money, but slowly degrade into more “heavy VF” propaganda machine it had been for years, and recent series of events is its heart attack at Leviathan timescale.

>>numpad+18
I don’t understand why people say this: Twitter wasn’t lucrative in the way that Facebook is, but they made a healthy profit in 2019 and probably would have made a small profit in 2021 had it not made settlement payments. Their revenue per employee was close to $1M, which is about 2/3rds of Google’s.

It’s not clear, either then or now, that Twitter “had no prospect of making money.” By most metrics, it was a potentially (and in actuality) very profitable company with a history of mismanagement.

>>woodru+Aa
Twitter was already struggling with right wing nutjobs and banana republics before El Muskrat got into the mix. Beyond that, Twitter was absolutely struggling to monetize eyeballs. While it wasn't about to implode in the short-term I don't think anyone expected Twitter to stick around long-term without significant changes. El Muskrat just doused the whole thing in acetone and dropped a big fat blunt on it.

>>inferi+gd
I agree with this! My point was that Twitter was not destined to fail: it had (has!) hundreds of millions of high-value users who treated (treat!) it as a news and culture feed. They made lots of money off of those users; the fact that they weren't more regularly profitable is an indictment of management rather than the fundamental business model.

This entire thing is an extended farce in two acts: (1) Twitter's leadership's inability to turn a highly addictive social media network into a regular money fountain, and (2) the sale of a potential regular money fountain to the single least qualified person possible.