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this post was submitted on 15 Oct 2024
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Ty Warner (creator of Beanie Babies) demonstrates excellent billionaire conduct by intentionally staying off of social media, according to a bio on the You're Wrong About podcast. This isn't to say he's a jerk that shamelessly stole the ideas of other people. He did a whole bunch of that. It's just once he got his riches, he shut up and ran his company.
As Elon Musk was considering buying Twitter, a lot of tech wonks examined the situation and came to the same conclusion: to retain his company value, Musk needed to let Twitter do its thing without changing its policy and if possible without commenting from his account. It was already doing the best it could.
Musk didn't and now X / Twitter is worth very much less.
Staying off of social media is actually the default for billionaires, they tend to stay out of the limelight. We just happen to have a few that like the attention.
Its never been about regular fundamentals with Twitter for Musk, its been bought by the Saudis and other autocratic places together as a cudgel to be used against human rights and modern liberal and free societies for weaponization by the global(ized) rich