FB was founded in 2004.
Twitter in 2006.
YouTube in 2005.
So they’ve all been around for about the same amount of time.
Personally, I find FB all but unusable with all the undesired crap FB forces into my feed.
YouTube highly useful for learning things, product reviews, etc.
And Twitter a mixed bag. At its worst it’s a human cesspool. At its best, if you can weed through the crap there are some good follows out there. But if Musk buys it? How can it not become 10x worse?
As for TikTok, I realize I’m not the target audience but I’ve never been able to ingest more than five minutes of it before deleting the app.
My take: FB is useless for a variety of reasons; Twitter is indispensable when I need it and I try not to look otherwise; YouTube is an amazing repository (I’m sure it can also be awful, I just don’t hang out in those spots).
He’s obviously just trying to stop the court case he’s going to lose only to come up with some new bullshit reason not to close later. Every day of delay is a chance for him to weasel his way out.
I reading the takes on Twitter and saying it’s horribly monetized, and I’m sure it is, but I can’t help but feel that monetization and quality have to be negatively correlated.
Youtube seems to be over paying content creators, the way poker sites overpaid winning players. These people have nowhere else to go and most of the successful channels are just algorithm beneficiaries.
I don’t see it crashing like that due to this deal, I do think it’s possible because I think it’s drastically overvalued in general, and I could see him dicking around on Twitter while it’s crashing and creating some angry activist shareholders.
I think the best theory is that Musk realizes how dumb he’s going to look when he has to testify and wants to protect his image as a stable genius and not some donk just smashing buttons.
Amazon/Apple are way ahead of him in this respect but I could see one app being used by everyone for 99.9% of anything they do in the not distant future.
Well super pumped about my shares selling for $52 ish. I was busy with my real job yesterday so I didn’t see what had happened until about 8pm. I put in limit orders to sell them at 52 or higher if they stay there when market opens. Was really hoping to buy calls with shares trading in the low 40s shortly before the trial started but this seems to make that unlikely. I tend to agree with those who already said the letter is just a tactic and had no business moving the share price so much. Elon will probably be like “see you’re being unreasonable not dropping the lawsuit, now it’s my time to pull all sorts of unreasonable shenanigans to turn this trial into a circus” Hopefully at some point he does that and the prices drops back down and I can buy again before the deal is forced through.
The only other sensible explanations here are
1.) His law firm are telling him that he will lose badly, they don’t want to lose badly with their sterling reputation and he needs to settle this thing before the verdict so they don’t have that on their record or they will drop him as a client
2.) He was dragging out the lawsuit so he could buy as many shares as possible at depressed prices before he has to disclose that he bought them or that he was selling TSLA to raise capital. Not sure what would apply here in terms of insider trading laws and what is actually legally feasible.