Aazadan t1_ixnytqy wrote on November 24, 2022 at 10:29 PM

Reply to comment by SkunkMonkey in Reuters: Global regulators to target crypto platforms after FTX crash by Globalist2

It mostly broke even until Musk bought it. The initial debt the company had to take on increased their annual expenses by quite a bit. Followed by the loss in advertiser revenue which further hurt them.

SkunkMonkey t1_ixo2qma wrote on November 24, 2022 at 11:02 PM

So it barely floated, like a turd.

Either way, Twitter is shit.

Aazadan t1_ixolpih wrote on November 25, 2022 at 1:50 AM

Shit as an investment? Sure.
Shit in terms of value to the public? Sure.

Shit as a company? I would have to argue no. They were stable, in business for 16 years, had cash on hand to fund current operations for another 10 years, kept people employed, and developed multiple technologies that are now industry standard for web development.

Ignoring their product themselves (which I think is probably neutral, but is far too indepth a discussion for Reddit, regarding the good versus bad it enabled), that's basically what corporations are supposed to philosophically do for society: Employ people and improve the business sector as a whole.

At least for the moment, Musk has disrupted all of that. But, in terms of whether or not that was a good business decision for him, all we can really do is speculate while we wait and see.