The continual implosion of Twitter…

Things seem to go from bad to worse for Elon Musk’s disastrous purchase of Twitter.

He paid $44 billion for the site last year, and its value keeps dropping. The estimated value was $15 billion during the summer, but it has declined even further, probably to $5-10 billion.

He really is the architect of his misfortune as he implements one terrible idea after another. Twitter’s primary value was its brand, so no one understood why it was renamed X. It would be like buying Coca-Cola and renaming it J. He also removed the names of articles, so you can’t even see what you are clicking on.

Worst of all he has gotten high on his own supply with a constant stream of tweets that are, at best bizarre and at worst antisemitic and more.

His latest PR offensive is he literally told advertisers to ‘Go f*ck yourself’. From The Verge:

Elon Musk took the stage at the DealBook conference on Wednesday evening with nervous laughter and a cascade of jokes about himself and his companies. But the interview quickly turned to the more serious subject of Musk’s recent antisemitic posts on X and whether his company can survive the advertiser boycott. On that matter, Musk seemed alternatingly apologetic and defiant — acknowledging his mistakes, then doing everything in his power to push advertisers away.

“I hope they stop. Don’t advertise,” Musk told interviewer Andrew Ross Sorkin. “If somebody is going to try to blackmail me with advertising, blackmail me with money, go fuck yourself. Go fuck yourself. Is that clear? I hope it is.” He singled out Disney CEO Bob Iger, who discussed not wanting Disney to be affiliated with Musk while on stage earlier in the day. “Hey Bob, if you’re in the audience.”

If advertisers don’t return, Musk said, “what this advertising boycott is gonna do is it’s gonna kill the company.” He seemed almost resigned to the possibility, speaking of it almost as though X were a martyr and advertisers the enemy. “That is what everybody on Earth will know,” he said. “We’ll be gone, and it’ll be gone because of an advertiser boycott.”

Musk’s message to advertisers came after what had briefly appeared to be an attempt to salvage the damage he caused after he called an antisemitic post the “actual truth” two weeks ago. More than 100 brands have since halted their ads, and the company is at risk of losing $75 million by the end of the year, according to The New York Times.

I notice on my Twitter a constant feed of bottom-of-the-barrel ads for cheap Chinese drop-shipped products. I have not seen an ad for a mainstream brand in weeks.
With more advertisers boycotting the site and users refusing to pay up for a subscription it is hard to see how much longer the site will survive. A lot of people have switched over to Threads. Meta is going out of their way to ensure Threads is a less toxic environment, they have succeeded but the downside it is does not have the spark of Twitter.
I think he will offload the site at some point and someone else will take over and reverse many of the changes. The key question is whether it will be too late to revamp one of the great online brands.
And if somehow you find yourself a billionaire and lauded and one of the great business geniuses of all time my advice is to keep your mouth shut and say nathin’ to anyone, ever.

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