Twitter alerted employees all office buildings closed and badge access suspended

Re:Twitter alerted employees all office buildings closed and... by strken on Thursday November 17, 2022 @10:43PM (#33649878)

That's a bit ridiculous. Buying Twitter for $44bn was entirely his fault (and I think, a very stupid decision) and he does seem to be running the company into the ground, but were the fundamentals of the business solid before he got there? Did it ever justify its share price? Is ad revenue a sustainable business model? Was it going to remain profitable for long enough for someone who bought in e.g. 2020 to make a good return?

If you go to market and buy a lame horse then flog it into the ground, that's entirely your fault, but it's not like the horse was ever going to race well.

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Re:Twitter alerted employees all office buildings closed and... by IfOnlyYouKnew on Friday November 18, 2022 @01:40AM (#33651161)

There are answers to all your questions and they come down to; Twitter was making a profit.

Maybe it could have been more. But a profitable business is, almost by definition, sustainable. There was no need for rash action.

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Re:Twitter alerted employees all office buildings closed and... by philliphaydon on Friday November 18, 2022 @01:48AM (#33651218)

Twitter has only had 2 years of positive net income. 2018/2019. So I can’t agree with “Twitter was making a profit” it was bleeding.

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Re:Twitter alerted employees all office buildings closed and... by ilyt on Friday November 18, 2022 @06:25AM (#33653144)

"was". For two years[1], pre pandemic. It's net negative over last 10 years and over last 3-4 years.

Worse, revenue[2] increased but costs increased faster

By all metrics it was burning money faster than it could increase revenue

[1] https://www.statista.com/statistics/274563/annual-net-income...

[2] https://www.businessofapps.com/data/twitter-statistics/

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Re:Twitter alerted employees all office buildings closed and... by drewbeck on Friday November 18, 2022 @02:21AM (#33651425)

I think the analogy is he bought a house that needed a new foundation and he tried to fix it with kerosene and fire. The issues may well have been fixable but he had no sense of what the issues were to begin with, just his ego-driven edgelord perspective.

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Re:Twitter alerted employees all office buildings closed and... by framapotari on Friday November 18, 2022 @04:55AM (#33652562)

What does justifying its share price mean? Does Tesla justify its share price?

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Re:Twitter alerted employees all office buildings closed and... by strken on Friday November 18, 2022 @05:17AM (#33652720)

It was a rhetorical question: for me the answer is no. TWTR apparently justified its share price to someone on the market, but I think it's been overvalued since IPO.

I have no idea if TSLA is overvalued or undervalued. I don't know enough about the automotive industry, renewable energy regulations, or batteries to even guess.

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Re:Twitter alerted employees all office buildings closed and... by bluescrn on Friday November 18, 2022 @05:17AM (#33652717)

He bought a very powerful propaganda weapon.

Destroying it or disarming it is a win for humanity, I guess.

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