Twitter really might implode
I have no idea what is going on in Musk’s head, but hoo-boy. Overpaying, firing essential employees, scaring off advertisers, implementing half-baked policies then quickly reversing himself, provoking regulators. Now there are indications/rumors he is getting ready to bail.
And the problem for Musk goes way beyond Twitter. Tesla’s valuation is insane. It’s been based on nothing more than Musk’s showmanship for some time. Despite declining by 50% in the past three months Tesla still has a market cap 5x that of Ford and GM together. Immolating his reputation by mishandling Twitter will only hasten the inevitable fall to earth.
And we are here for it.
Twitter Users Say Elon Musk Should Quit as CEO
NY Times – just in
Elon Musk asked Twitter users Sunday if he should step down as head of the social media site. More than 17 million votes were cast and delivered a clear verdict: 57.5 percent said he should quit, in a Twitter “poll” that closed after 12 hours on Monday. …
(I read somewhere that Elon Musk said he would gladly sell all his Twitter shares if he can get what he paid for them, so there is hope.)
Where does it go? The good lord only knows, seems like it was just the other day …
A couple months ago, actually, but “wouldn’t it be funny if he bankrupted the car company he bought into?” The other day, though, I noted “I wouldn’t be surprised if it doesn’t last out the year.”
Train wrecks are stopping to gawk at Elon Musk.
Boston Globe – Dec 20
When Elon Musk put out a poll on Sunday asking Twitter users whether or not he should step down as head of the social platform — which he purchased for $44 billion just two months ago — it seemed he was ready to drop it like it’s hot.
Leave it to Snoop Dogg to offer to pick it up.
The 51-year-old rapper launched a poll of his own on Sunday, asking his 20.8 million followers if he should run Twitter. The response? Of nearly 3.4 million votes cast, a whopping 81 percent supported Snoop Dogg becoming the new “chief Twit.” …
Meanwhile, Musk’s poll — which drew more than 17 million votes — went decidedly in the other direction, with about 57 percent of voters telling the Tesla and SpaceX CEO to move on. While Musk promised he would “abide by the results of this poll,” he has yet to acknowledge the results. …
So will Musk pass the reins of power to Snoop Dogg? It remains to be seen, but the way the Great Twitter Saga™ has unfolded so far, anything is possible.
Looks like, all SD has to do is come up with $44 LARGE and EM is a free man.
SD’s expertise with NFTs & Crypto could make this a Done Deal.
Tesla market cap: $435B (less than half what it was a year ago)
GM market cap: $50B
Ford maeket cap: $46B
NY Times – just in
Elon Musk said on Tuesday that he would resign as Twitter’s chief executive when he found “someone foolish enough to take the job,” two days after he had asked his 122 million Twitter followers whether he should step down as the leader of the social media site and a majority of respondents answered yes. …
NY Times – Musk clarifies…