As a business, it's obviously fucked. Revenues are down, regulators are circling and it's difficult to see them recovering when Musk has made a habit of publicly pillorying his customers.
Granted, it was the last boom's RJR-Nabisco/Harrah's Entertainment top-tick LBO, so it started the race ass first. But it's difficult to see Twitter avoiding restructuring, a necessarily distracting and value-debilitating process. (On even a generous revenue multiple, its equity value is zero.)
Musk's only face-saving exit is to fold when a foreign regulator fines him.
As a business, it's obviously fucked. Revenues are down, regulators are circling and it's difficult to see them recovering when Musk has made a habit of publicly pillorying his customers.
Granted, it was the last boom's RJR-Nabisco/Harrah's Entertainment top-tick LBO, so it started the race ass first. But it's difficult to see Twitter avoiding restructuring, a necessarily distracting and value-debilitating process. (On even a generous revenue multiple, its equity value is zero.)
Musk's only face-saving exit is to fold when a foreign regulator fines him.