Wall Street Banks Prepare to Sell Billions of Dollars of X Loans

2 years ago by misk to c/technology

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bamboo 124 points 2 years ago

In a January email to staff, Musk pointed to the company’s growing influence and power, but said the finances remain problematic.

“Our user growth is stagnant, revenue is unimpressive, and we’re barely breaking even,” he said in the email, which was reviewed by The Wall Street Journal.

Geee I wonder what could have caused this?

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shoulderoforion 53 points 2 years ago

it was bought by musk at the behest of saudi royals who never again wanted to be raked over the coals globally for doing something like butchering kashoggi, the blowback cost them face which they were not prepared for spending billions on things like soccer leagues and stadium to curry favor with the west, and elon wanted saudi markets open for his rocket ships and electric cars, they invested, he invested, but mostly he took out loans from sucker banks which had made money from tesla and space x. i don't think he intended to become the nazi poster child when he bought twitter, but water finds it's own level, and this was always his.

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Mrfiddles 15 points 2 years ago

See, I've always maintained that he bought Twitter with the specific intention of earning his spot as the Goebbels in the upcoming Reich. It was never about money, it's always been a power play.

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FreakinSteve 9 points 2 years ago

Seriously, does nobody remember that he was forced to buy it by the SEC because he manipulated the stock value?

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Mrfiddles 5 points 2 years ago

That was just a shitty negotiating tactic. From day one he's rolled out the red carpet for Trump. Twitter was just his foot in the door so that he's already on Trump's good side and can get his company town going in Texas.

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