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submitted 4 months ago by gedaliyah@lemmy.world to c/news@lemmy.world

Musk’s repeated outbursts against advertisers have dried up the main source of revenue for the loss-making company formerly known as Twitter. A recent decision to sue them for heeding his own advice to not buy ads on the platform hasn’t helped. At some point, he will have to provide a fresh infusion of cash to salvage his $44 billion takeover.

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[-] FlyingSquid@lemmy.world 303 points 4 months ago

I believe the appropriate thing to say to Elon here is, "go fuck yourself."

[-] LEDZeppelin@lemmy.world 115 points 4 months ago

Let me be very clear 👌go fuck yourself 👌

[-] raoul@lemmy.sdf.org 56 points 4 months ago

👎 𝓰ℴ 𝒻𝓾𝒸𝓴 𝔂ℴ𝓾𝓇𝓼ℯ𝓵𝒻, 𝓮𝓁𝓸𝓃 🖕

[-] TransplantedSconie@lemm.ee 34 points 4 months ago

Let me say it in Italian American

gestures wildly with hands with each word

"Why dont yos go fuck yoself, motha-fucka!"

[-] dogsnest@lemmy.world 20 points 4 months ago

Interesting  🤔

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[-] gedaliyah@lemmy.world 192 points 4 months ago

Free market capitalism will say to let it fail.

[-] Protoknuckles@lemmy.world 168 points 4 months ago

If he sells enough Tesla stock, he may save both companies!

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[-] timewarp@lemmy.world 106 points 4 months ago

I have to give Musk credit. At least he help narrow my car buying decision to know at least one brand that I'll never buy.

[-] Nollij@sopuli.xyz 37 points 4 months ago

There are many reasons to avoid Tesla, regardless of Musk. The complete lack of independent repair was my deal breaker, but you'll find your own. Their competition is looking pretty good these days, too.

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[-] Spitzspot@lemmings.world 85 points 4 months ago
[-] dohpaz42@lemmy.world 64 points 4 months ago
[-] snooggums@midwest.social 65 points 4 months ago

What an unfunny dipshit. He actually thought that was clever.

[-] ThePantser@lemmy.world 55 points 4 months ago

It is clever, he told everyone up front that he was there to sink the company.

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[-] pennomi@lemmy.world 38 points 4 months ago

It might’ve been funny if he was remotely likable. Turns out that humor depends highly on not being an asshole.

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[-] some_guy@lemmy.sdf.org 63 points 4 months ago

That’s because it is almost exclusively tied up in his various corporate holdings that include everything from rocket builder SpaceX and brain chip company Neuralink to his latest startup, xAI.

None of these investments are easily fungible. Only Tesla is a publicly traded company. So the easiest solution at his fingertips is to liquidate a portion of his remaining 12% stake.

Let it fucking burn.

[-] GiddyGap@lemm.ee 60 points 4 months ago* (last edited 4 months ago)

Stop buying Teslas! Many other great or better EV choices out there.

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[-] rsuri@lemmy.world 59 points 4 months ago* (last edited 4 months ago)

He'll probably just get tesla shareholders to gift him the money. They've shown they'll sign off on pretty much anything he asks for.

[-] Laser@feddit.org 45 points 4 months ago

Musk: How about a multiple billion dollar pay package?
Sane people: You've already had it.
Musk: I've had one, yes. What about a second multiple billion dollar pay package?

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[-] Zier@fedia.io 44 points 4 months ago

2 4 1 deal, how to trash 2 companies at once. Good job space karen!

[-] vga@sopuli.xyz 43 points 4 months ago* (last edited 4 months ago)

Could he sell all of it? And then completely fuck off? br, tesla (car) owner

[-] Nurgus@lemmy.world 20 points 4 months ago* (last edited 4 months ago)

Who would buy it now, though? It can't have much value left. (Edit: Twitter. Not talking about Tesla, that's a whole different arc.)

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[-] irreticent@lemmy.world 43 points 4 months ago

"A recent decision to sue them for heeding his own advice to not buy ads on the platform hasn’t helped."

Gotta love it. He told advertisers to fuck off, they fucked off, now he's even more mad at them.

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[-] ArugulaZ@lemmy.zip 43 points 4 months ago

Maybe if he was smart, he'd just give up on the social network and sell it off to someone else. But he's not smart, so he'll keep sinking money into it until cooler heads in the company prevail. The era of social media dominance, I'm sorry to say, is over.

[-] ChairmanMeow@programming.dev 27 points 4 months ago

He'll definitely keep it until after the election at least.

[-] phoenixz@lemmy.ca 20 points 4 months ago

Don't be sorry, that's amazing and awesome! Social media was internets biggest mistake. It going down is great. It dragging the shit clown Musk with it is an absolute cherry on that cake

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[-] Valmond@lemmy.world 38 points 4 months ago

Why is this news...

Some rich guy might do something that doesn't really change anything for anyone.

[-] Voroxpete@sh.itjust.works 41 points 4 months ago

Because it will affect Tesla's share price (negatively), just like it did last time, and Fortune's job is to report on things that affect share prices.

There is also a public interest element, because Musk is currently the richest man on earth - which affords him massively undue power and influence - but he won't be if he manages to crash the Tesla stock price with a massive sell-off.

Tesla is exceedingly overvalued right now which makes it a very volatile stock. We already saw the price crater the last time he sold stock to keep Twitter afloat, and it only really recovered when he pinkie swore not to do it again.

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[-] Thebeardedsinglemalt@lemmy.world 32 points 4 months ago
[-] auzy@lemmy.world 21 points 4 months ago

The problem with Tesla really is Elon.

If he sells his majority stake, I suspect it would be a lot better.

The biggest reason against buying them is him. They also make more than cars (their powerwalls seem alright).

If X fails though, I suspect all those bigots will flood over to here (Facebook and X seem to be distracting them for now).

Let them have their nazi prison. Just make it not profitable

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[-] Sgt_choke_n_stroke@lemmy.world 31 points 4 months ago

Whats interesting is the NRA spent billions in TV propaganda running a news channel and that venture ended up bankrupting the whole organization. It looks like musk is falling in the same trap

[-] Talaraine@fedia.io 30 points 4 months ago

Why do you think he strongarmed Teslas shareholders into that big pay day? He's known this was coming, y'all. Tesla's just paying for his misadventure.

[-] xmunk@sh.itjust.works 27 points 4 months ago* (last edited 4 months ago)

He won't. He bought the company using leverage so he wouldn't have any personal financial investment in it.

My personal theory is that he bought it to destroy it to lash out at Grimes but, honestly, who the fuck even knows.

[-] elgordino@fedia.io 23 points 4 months ago

Maybe the Saudis and Qataris will chip in some more cash to help him out.

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[-] SmokumJoe@lemmy.world 20 points 4 months ago

I don't understand how you can sue a company that doesn't want to advertise on your platform

[-] catloaf@lemm.ee 34 points 4 months ago* (last edited 4 months ago)

You can sue anyone for anything. It's just a matter of how long you fight it before it gets thrown out.

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[-] ulkesh@lemmy.world 19 points 4 months ago

Aww, poor rich asshole.

[-] Draegur@lemm.ee 19 points 4 months ago

Or maybe he'll just have to sell Twitter.

Or maybe Twitter's debtors can place a lien and sell it right out from under him.

Kinda curious about what if Twitter were nationalized...? Like, make it a service of the USPS or something? Force it to become accountable to its users?

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[-] zbyte64@awful.systems 18 points 4 months ago

Notice he isn't going to put his SpaceX shares up for sale.

[-] SpraynardKruger@lemmy.world 19 points 4 months ago* (last edited 4 months ago)

I don't know much about trading stock, but I do know SpaceX is not a publicly traded company. That means his buyers for those shares are super limited, so each potential buyer would likely be super wealthy and would have more say over the company than any one individual in the horde of public buyers that would buy up the Tesla stock. Plus, him needing to divest from Tesla might actually drive Tesla stock up a little (eventually), since he won't have as much control of the company as he did before. It seems he would still be the largest shareholder after the selloff, but this would close the gap between him and the next largest shareholder. He owns over 3x more Tesla stock than the next largest shareholder.

www.investopedia.com/articles/insights/052616/top-4-tesla-shareholders-tsla.asp#:~:text=Tesla%20is%20the%20world's%20most,%2C%20Vanguard%2C%20and%20State%20Street

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[-] x3x3@lemm.ee 18 points 4 months ago
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this post was submitted on 17 Aug 2024
756 points (96.8% liked)

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