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 help to manage Slugger by taking care of the site as well as running our live events. My background is in business, marketing and IT. My politics tend towards middle-of-the-road pragmatism, I am not a member of any political party. Oddly for a member of the Slugger team, I am not that interested in daily politics, preferring to write about big ideas in society. When not stuck in front of a screen, I am a parkrun Run Director.