Is Elon Musk heading for the biggest bankruptcy in history?

Discussion in 'Media & Commentators' started by Pixie, Nov 11, 2022.

  1. Pixie

    Pixie Well-Known Member

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  2. Hey Now

    Hey Now Well-Known Member

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    Well, a cursory thought. He could gut the company and salvage as much as he can. Or, reportedly, The Kingdom (of Saud) has staked him so that's another root for liquidity, foreign money. Regardless, he is not a guardian of free speech worthy of any PUBLIC trust.
     
  3. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    I don't think he has any clue what he is doing. All his actions look like shots from the hip and pure chaos, and now talking about going under. He is driving his advertisers away.

    Exodus continues at Twitter as Elon Musk hints at possible bankruptcy
    Departures of top figures handling safety, security, privacy and compliance come amid warnings from Federal Trade Commission
    https://www.theguardian.com/technology/2022/nov/10/exodus-twitter-elon-musk-possible-bankruptcy
    As Elon Musk’s ownership of Twitter entered its third week, and following mass layoffs, the billionaire laid bare a delicate financial future for the social media platform, amid an exodus of top privacy and security executives.

    Yoel Roth, the head of safety and integrity who had been deputized to publicly address concerns advertisers and users had about the platform, is reportedly the latest to leave the company.The departures began on the same day Elon Musk addressed employees for the first time, saying that “bankruptcy isn’t out of the question”, according to multiple reports
     
  4. Hey Now

    Hey Now Well-Known Member

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    Maybe the idea is to corporate raid it and cut his loses given he was going to be held to the deal anyway or he really has no plan of substance and is winging it.
     
  5. Pixie

    Pixie Well-Known Member

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    I hope it isn't the latter.
    This business is now valued at 4 billion dollars and is connected to a shedload of large corporate advertisers who have sunk a lot of money into it.
    If it does go down of course they will be paid first out of what it can be sold for.
    But more than that, the idea of these enormous social media companies feels flakey all of a sudden. They are enriched by corporate advertising and if they go cold, others may also suffer. Facebook is already seeing a shrinkage in its memberships, and either the global financial squeeze, it may be a choice companies make to cut back on such large contracts.
     
  6. wgabrie

    wgabrie Well-Known Member Donor

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    Twitter might need bankruptcy protection as Elon Musk might end up rebuilding the entire platform from the ground up with a new team of programmers.

    Note that bankruptcy doesn't necessarily mean liquidation.
     
  7. Battle3

    Battle3 Well-Known Member

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    And who are you to give Musk advice? Have you revolutionized the auto industry, space launch industry, global internet access industry? What are your qualifications? Are you so trustworthy and successful you can convince people to financially back you in buying something like Twitter?

    Its been a month since your critique of Musk and Twitter is doing just fine, and it looks like its on the road to being better than it was both financially and in terms of moral quality.

    Maybe you should just apologize for giving terrible advice.
     
    Last edited: Dec 13, 2022
  8. Pants

    Pants Well-Known Member

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    Well, this is a discussion forum and people are encouraged to participate and lend their thoughts and opinions. There is no required qualification to share our thoughts. And I don't think sharing a negative opinion equates to offering 'advice'.

    It is my belief that Musk is in over his head. He underestimated Twitter and running it. He registered his intent to open it back up to free speech, only to have to backtrack on that pretty quickly. There is no doubt that he has been phenomenally successful in previous ventures and other industries, but it doesn't negate his inability to make a rousing success of his iteration of Twitter.
     

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