It is not, and will not be the point for Elon - he's clearly stated he does not care about money. There are goals beyond what the petty populace panders or bitches about. So again, your argument - while well formulated, is insignificant if the short-term losses support long-term heading changes.
What's your take on Amazon?
Which are? And I'm asking about Twitter specifically not Tesla or SpaceX.
- Maximize user-minute happiness
- Make Twitter a source of timely truth
Amazon isn't levered to the hilt. It can choose its own time frames.
Leverage enforces an external horizon. It's unlikely Musk loses control of Twitter in bankruptcy--nobody wants it. But even if he "does not care about money," which is obviously untrue, he structures for himself and responds to monetary incentives, his lenders (and advertisers and employees and minority shareholders) do, and that's operational chaos for potentially months on end that adds zero value to Twitter or his brand.
Musk is swimming upstream, having notched the top-tick LBO of a decade-long ZIRP run.
With Twitter's original finances, in a strong economy, the debt would have been difficult. As currently configured, with ad revenue down 50% [1], it's obviously unsustainable, a reality reflected in its bonds' prices.
> he claims it's break-even now
Musk expected, last year, Twitter to break even this year [2]. He claimed break-even in April, but conceded profitability was still away [3], implying an unlevered definition of breaking even, i.e. before financing costs.
[1] https://www.reuters.com/technology/elon-musk-says-twitters-c...
[2] https://www.reuters.com/technology/elon-musk-expects-twitter...
[3] https://www.marketwatch.com/story/elon-musk-twitter-is-opera...