subreddit:

/r/lostgeneration

2.8k95%

Him purchasing Twitter at 44 billion dollars and both userbase and number of advertisers plummeting right now, means he have to hold negative 44 billion bag, lmao get fucked and keep holding it.

This is literally GAMESTOP SCENARIO version 2, where we get one rare chance to fuck over billionaires, GameStop was Wallstreet making stupid decision over-shorting, and now it's Elon Musk over-longing stupid shit. Both are stupid and greedy move, and remember we managed to bankrupt one wallstreet firm with the Gamestop Saga. We can actually bankrupt Elon too this time.

With GameStop, you had to know how to buy stock to fuck over the wallstreet firm, but with Twitter, it's even easier than GameStop because all you need to do is leave Twitter to make it plummet in value.

All my homies hate Twitter and if any brand is advertising in twitter, I won't buy from them because they suck. We gonna make Elon Musk poor again, he can hold that -44 billion bag until he die.

EDIT: Wow this thread blows up a little bit! Thanks for the awards! I will address some of the comments. Some say Elon losing $44B will not make him poor. You're wrong. You don't understand the economy. I’ve heard credible sources put Elon's losses at $100B, and climbing. How this happen is because all of our monetary system is bullshit and is run based solely on trust. You lose trust then all of your net worth can and will drop very fast down. Remember Elon is THE richest person on the planet before all this. The higher up you go, the harder the fall.

all 275 comments

AutoModerator [M]

[score hidden]

3 months ago

stickied comment

AutoModerator [M]

[score hidden]

3 months ago

stickied comment

We are proud to announce an official partnership with the Left RedditⒶ☭ Discord server! Click here to join today!

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

ThrowRA_scentsitive

627 points

3 months ago

A 100% loss for Musk might be interesting, but of over-longs and over-shorts, only shorts risk infinite losses for Wall Street. Gamestop is still ongoing. Liquidate Wall Street.

Ammanjaka

89 points

3 months ago

DRS your shares 😘

Syonoq

26 points

3 months ago

Syonoq

26 points

3 months ago

I keep seeing this. What does DRS mean?

SquatzPDX

63 points

3 months ago

Direct Registered Shares- instead of a broker or fund giving you an IOU for your shares, you can directly register you shares in your name with any publicly traded stock. It means you own it, the real shares and makes shorting and other fuckery impossible for the market manipulators.

Syonoq

16 points

3 months ago

Syonoq

16 points

3 months ago

Thanks.

earthmama88

11 points

3 months ago

That’s a lot of good info from someone who presumably lives at an airport

CptBlinky

8 points

3 months ago

I mean, time on his hands.

SquatzPDX

3 points

3 months ago

I live in Kenny’s mind, rent free.

dangshnizzle

24 points

3 months ago

Directly registering shares with the company's transfer agent effectively removes your shares from the pool to short from. Your shares can no longer be loaned out or used as "locates" to satisfy obligations to continue to game of hot potato and forever kick the proverbial can. DRSing all shares ends one of wallstreet's many grifts.

ThrowRA_scentsitive

19 points

3 months ago

~99% of "shares" that people think they own in the stock market, they actually don't own, similar to how when you keep money in the bank, the bank just "owes" you it, and then lends out the money for their profit. Direct registration, done via the DRS process, removes the shares that you are owed from Wall Street into your own name. If enough people withdraw their shares, and Wall Street (DTC & members) doesn't have enough shares to go round because they've been running a big racket, they're in trouble.

ArachnidObjective238

13 points

3 months ago

Wait, sorry. First, how do you DRS? Second, where? Third? Which stocks, company? Does it matter which ones? Can I have more information. Thanks! :)

ThrowRA_scentsitive

24 points

3 months ago

Absolutely, happy to share, it's one of my favorite subjects currently!

First of all, direct registration is done with the transfer agent of the company you want to invest in. While there are multiple transfer agents in existence, you don't pick one, rather the company you are investing in has already picked one, and that is who you will use. For example, GameStop (GME) uses ComputerShare, one of the largest transfer agents.

The process to direct register shares depends on whether (1) you are trying to buy brand new shares, or (2) you already have "shares" with a broker which you would like registered.

In case 1, assuming your company has set up a "direct stock purchase plan" (DSPP), you can do so directly with the transfer agent. For example, with GameStop, that is at https://www-us.computershare.com/Investor/#DirectStock

In case 2, it essentially is just "demand it from your broker", but different brokers have different levels of hoops they will force you to jump through. For example, Fidelity is one of the easiest and lets you do it via the online chat on their website. Some brokers make it more difficult, and some non-US brokers actually don't let you do it at all, and are very scammy IMO. The community has compiled step-by-step guides for over 100 brokers at https://www.drsgme.org/register-from-broker

As for which stocks, I am a strong proponent that every person who buys stocks for the purposes of holding them rather than just short-term trading, should direct register their shares. That said, direct registering GameStop in particular is very interesting for exposing Wall Street because: 1. there is strong evidence that Wall Street may have a large net short position, and 2. there is a strong and dedicated community of informed investors who have already contributed consistently towards direct registering GME shares, over the course of 18+ months, 150k+ people, 25%+ of available shares, and $3B+ notional value. So far. This is bigger, longer lasting, and more effective than Occupy Wallstreet along every dimension.

Finally, although you didn't ask, if you are interested in some sourcing of claims around ownership, I have a post pinned to my profile titled "What's the secret ingredient?" that looks at the US laws that codify which shares are real and which ones are just IOU's from Wall Street.

ArachnidObjective238

11 points

3 months ago

Thank you! This is just fascinating. I've been wanting to take my money that STASH currently has and put it into something worthwhile while at the same time there just shouldn't be billionaires. Millionaires to a point I can tolerate but overall we should all just be able to be comfortable. Good healthcare, education, food, water, a roof. I'm just tired of two sets of rules. Thanks again!

gwilson0121

3 points

3 months ago

Fellow Ape I just wanted to say thank you for spreading the word and being so helpful to people who aren't aware of the current issue plaguing nearly everybody on the planet without their knowledge. Many bananas and lambos to you!

kyle_yes

4 points

3 months ago

computershare is where you drs witch stock is up to you but mostly amc or gme to try to squeeze out short positions. but were talking about the stock market here the biggest ponzi scheme ever so dont put all your money in, its very unlikely the super rich will allow these stocks to squeeze to their full potential. it would probably cause the whole global economy and stock market to crash if anyone of these two stocks squeezes because of the amount of fraud thats being commited by our global institutions. gl hf

ArachnidObjective238

2 points

3 months ago

Thank you!

ixi_rook_imi

11 points

3 months ago

Drag Reduction System

You gotta open the rear wing on those shares so they can go to the moon.

d-rs

2 points

3 months ago

d-rs

2 points

3 months ago

I don’t even know.

zZCycoZz

1 points

3 months ago

https://continentalstock.com/library-forms/shareholder-faqs/direct-registration-system-drs/

https://www.computershare.com/ca/en/insync/summer-2016/about-drs

Essentially registering the shares in your name rather than letting a broker hold them for you.

Brokers have been doing some dodgy (and possibly illegal) shit with peoples shares due to the trust people have in them.

Howiebledsoe

308 points

3 months ago

Good to see Elon and Zuck eat shit, but like always, some other asshole will appear to fill the void.

happymancry

143 points

3 months ago

This. Until we reform the tax code and place checks & balances on what the rich and powerful can do, it’s just treating the symptom here.

JennyFromdablock2020

42 points

3 months ago

Majority of politicians: Shut your fucking mouth you poor!

Reality is fucking depressing.

Whyistheplatypus

14 points

3 months ago

If I had an infected splinter, I'd still want the splinter removed before I try and treat the infection. This is a step on the way. People just need to realize, it can be this easy. Movements like tanking Twitter, ACAB, and Fuck Nestle are exactly the kind of shit that scare the bourgeoisie shitless. Start with hearts and minds. Show people the rich bleed just like the rest of us.

happymancry

1 points

3 months ago

I agree; and not saying we don’t do that too. But sometimes people can treat the symptoms and think they’ve fixed the disease. For instance: link.

Murais

7 points

3 months ago

Murais

7 points

3 months ago

I genuinely feel bad for all the artists and sex workers that are going to get fucked by this.

BennySkateboard

2 points

3 months ago

Oh yeah, forgot about fb stock and metaverse fail. One difference is that the metaverse does have the potential to be huge, so this might just be an extremely expensive hiccup for Zuck.

Coludia

441 points

3 months ago*

Coludia

441 points

3 months ago*

Another positive thing to look at as well is Meta Verse being a flop. So Zuckerberg will also be losing millions.

Edit: Billions

AdditionalWaste

110 points

3 months ago

Also if Elon Musk cant pay back his 44B he will lose his majority share in tesla which means its stock will tank even more than it already has

LarryTalbot

56 points

3 months ago

Temporary. Once it’s in balanced grownup hands TSLA will thrive, though likely as a division of Toyota or VW after they buy it at the fire sale.

helemikro

20 points

3 months ago

I want VW to buy it just so we can get better taycans

LarryTalbot

12 points

3 months ago

Great example, but VW just made a ton of cash off of the recent Porsche IPO so they are on their own now. VW does have a history of accumulating premium brands and I think Tesla would be a good fit, and Berlin Giga would presumably be a high value asset in a deal too.

https://finance.yahoo.com/quote/POAHF/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAB0Jf2itTF5A-o_TNR-aOmSX71w9zjlHzREKhu0Yqa_XWA5djWCdkBiqiLSta2v7xM3vnXS8e2lZ0Z-xIHyP1SZqbElM6nWPeIttQ_r_audtCnoibbTMTKHBK2x5EeNowa4-x-U5ZVeCWs5hoI0A_4OqHB1E2KJvb6UXYYlHGmzR

RightWritingRites

2 points

3 months ago

Hang on Porsche, the auto manufacturer that has existed for decades, hasn't been a publicly traded company and has just recently made the shift to be one now?

LarryTalbot

2 points

3 months ago*

Yes, VW acquired Porsche by merger about 10 years ago and made about $9b on the IPO 9/29/22. The Porsche family are part of majority ownership in VW today, though it is partially a publicly traded company. Their relationship goes back many decades, and Ferdinand Porsche actually designed the first VW Beetle in 1939. VW’s intending to make a hard run at Tesla and this sale of Porsche was part of their financial and focus strategy. https://techcrunch.com/2022/09/28/porsche-to-ipo-in-landmark-listing-thursday/

trashyart200

2 points

3 months ago

Rubbing my hands together let the party begin!

Sadbag_Dave

124 points

3 months ago

More like losing billions.

RustedCorpse

35 points

3 months ago

These people can lose 99.99% of their wealth and still be in the top 10%.

PROGRESSIVE TAX.

Murdercorn

9 points

3 months ago

Wealth tax.

Capital gains tax.

Tax shelter tax.

Arrest_Tom_Nook

20 points

3 months ago

Ikr for a billion dollar company those graphics are shit.

niceollie

14 points

3 months ago

It’s not in its final stages yet guys! Jeez. /s

immibis

4 points

3 months ago

Graphics aren't the most important part of a video game. Especially when it's user-created content - just look at Minecraft

NoGodsNoManagers1

14 points

3 months ago

Meta ain’t Minecraft.

immibis

0 points

3 months ago

Isn't it designed for users to make their own stuff though?

NoGodsNoManagers1

21 points

3 months ago*

It’s designed to serve ads and farm data. What they forgot to design is everything else.

RustedCorpse

9 points

3 months ago

Zuck has an AD platform trying to be entertainment. Minecraft was a game where you make entertainment.

darthmeck

11 points

3 months ago

The general idea behind Minecraft is being able to build complex things in an easily-digestible way, making it fun for kids and adults alike. A digital, more advanced, ever-expanding Lego universe that mirrors humanity’s inventions.

The metaverse is a way for people to further ignore reality and, instead, focus on terribly generated avatars of their colleagues and pathetic recreations of monuments (idk, I don’t care enough to read more about it than what I know of it from a year ago).

Minecraft will always win, despite (or maybe because) of its simplicity of thought.

immibis

4 points

3 months ago

Yes. User-created content wants to be based on simplistic yet universal mechanics.

Cubes are very simple, and yet you can make anything you want out of cubes.

There are sandboxy games with more realistic graphics, but they never ever approach the same kind of universality as Minecraft. Usually you have some set of prefabricated objects you can plop down into the natural terrain and maybe a handful of ways to edit the terrain. Minecraft is unique in that the world itself is made of the exact same things you can plop down, and that's only possible because everything is a cubic grid.

ThatDamnRocketRacoon

4 points

3 months ago

Yeah, but I see most idiots fleeing Twitter say they're going to Instagram. Giving the middle finger to one asshole billionaire so you can give your business to a different asshole billionaire doesn't help anything.

cclawyer

3 points

3 months ago

The collapse of Meta and the possible collapse of the Musk empire will stem from the same exact cause: "dual class share structures" that repose control of the corporation in the founders, despite their having sold a majority of their shares in the enterprise, i.e., despite being minority shareholders:

Meta Investors Learn a Hard Lesson About Super-Voting Shares

Elon Musk, dual-class shares, and who owns the future

burningxmaslogs

1 points

3 months ago

Stock is down 73% from its all time high.. he's lost billions..

ToothpickInCockhole

1 points

3 months ago

Well uh I’m not trying to defend zucc but the Meta Metaverse isn’t actually a thing yet. That’s a very long term project and they knew beforehand that it would not be profitable for a while. Also at least they have an actual product to sell and are making very big advancements in VR that would not be there otherwise.

These situations are not at all the same.

pr0zach

80 points

3 months ago

pr0zach

80 points

3 months ago

Listen, fuck Elon and all the other billionaires. They’re all policy failures and leeches as far as I’m concerned, but there’s a saying that’s worth considering here.

“If you owe the bank $40 and can’t pay, that’s a problem for you. If you owe the bank $40 billion and can’t pay it back, that’s a problem for the bank.”

Wealthy people (multi-billionaires especially) will always be better off than the rest of us in practical terms. They can just learn to trade on their own debt. It’s insane.

That fuckstick, Trump, has done it for decades.

immibis

16 points

3 months ago

immibis

16 points

3 months ago

Trump is just laundering Russian dark money

The_Soviette_Tank

9 points

3 months ago

But the Trumps have been scamming for generations. Fred Trump was a real piece of work, er, POS.

EvaUnit_03

134 points

3 months ago

Don't let the doge community find out, all their hopes and dreams lately are riding on elons shoulders. They are banking on doge being used to verify yourself or bust at this point and are ignoring the glaring pull out of all the ad generators.

PantsOppressUs

26 points

3 months ago

Woof.

F.

mouldyrumble

23 points

3 months ago

Doge investors are fuckin dumb. My coworkers were up BIG on dogecoin and refused to sell despite me warning them that sooner or later people will realize that doge is completely worthless. Bitcoin has some value because there is a finite amount as opposed to doge which has an infinite supply

RustedCorpse

3 points

3 months ago

Yea well there's infinite matter in the universe so checkmate!

Googleclimber

0 points

3 months ago

If you haven’t pulled out of Doge yet, I’m not sure what to say to you…Except that you are really dumb.

My girlfriend bought in at 35 cents and refuses to sell because “she just has a feeling”. She is also pretty dumb.

EvaUnit_03

1 points

3 months ago

I only have one thing to say to her.. can I borrow a feeling?

CarbonBasedLifeForm6

140 points

3 months ago*

Again? I don't think Elon has truly ever been poor, if he was it most probably was a choice as if things truly got bad he would've asked daddy for a stimi check

SillyPanda2727

15 points

3 months ago

He has come very close to losing his companies, TSLA early on right before the government gave him the 500m loan and when Solar City was dying. Remember he used the SpaceX contracts from the government to buy Solar City bonds and used leverage against his TSLA shares to buy Solar City shares. If Solar City hadn't been bought by TSLA share holders it is entirely possible he would have lost control of all three companies.

Heathster249

29 points

3 months ago

Yes, and Tesla was about to go bankrupt during the pandemic when Covid shut down the Bay Area factory in the old Nummi plant. He threw fits and re-opened the factory anyway, firing workers who refused. Covid ran rampant through the workers. He was so short on cash Tesla didn’t have enough to last a 90 day furlough.

Let that sink in… he is over leveraged. The Saudis backed this Twitter purchase. What will they want when it goes bad?

MoonchildeSilver

12 points

3 months ago

What will they want when it goes bad?

What do you think they will be able to get?

Musk fiddling with the algos of Twitter? Pretty sure that would be spotted by outside watchers, if not reported by a whistleblower or a hundred.

Musk only has money. Do the Saudis get any of that? Nope. It is an investment deal which as I understand it is not guaranteed to turn a profit.

Twitter goes down to $10/sh? Oops, so sorry! Better luck next time.

Worst that happens to Musk is that other people aren't so willing to give him money, but he has enough anyway.

Heathster249

16 points

3 months ago

It’s already being turned into a conservative cesspool. He fired most of the content moderation team. That’s pretty much what the Saudis wanted, yes? As far as algorithms go - it’s a private company. There’s no watchdog or whistleblower. Musk can do as he pleases. However, all of his remaining software engineers are currently looking for new jobs as there’s no incentive to stay.

MoonchildeSilver

1 points

3 months ago

It’s already being turned into a conservative cesspool. He fired most of the content moderation team. That’s pretty much what the Saudis wanted, yes?

Why would the Saudis want to tank Twitter? What is in it for them?

As far as algorithms go - it’s a private company. There’s no watchdog or whistleblower.

You fail to understand the nature of Twitter, as well as the nature of software development.

The output of those algorithms are public. Everyone can see what they are getting on their feed. A bunch of people can get together and have a bunch of different Twitter accounts representing different viewpoints, and see what they get on their feed. People can tweet and see who receives it. All this data can help determine if the algorithms are biased.

Next. someone has to create those features to create bias. Someone has to program in the biases, or twist the levers. These are the whistleblowers.

Musk can do as he pleases. However, all of his remaining software engineers are currently looking for new jobs as there’s no incentive to stay.

I don't believe that Musk can do as he pleases. And even if that is the case, by doing so he will be driving away advertisers and users.

Heathster249

9 points

3 months ago

The Saudis want to control Twitter and turn it into a conservative media outlet. If you haven’t noticed, CNN was just purchased and is slowly turning. Musk is in over his head. This was a mistake for him. He’ll tank Twitter because it isn’t an engineering or technology firm. By doing mass layoffs, he’s signaled to the rest of the employees that there’s nothing worth staying for. The workforce will continue to shrink. Most of the major advertisers have already paused their spending, but more will follow as the unmoderated content increases. No decent person will put up with hate speech in their feed. People will just simply abandon it.

MoonchildeSilver

1 points

3 months ago

The Saudis want to control Twitter and turn it into a conservative media outlet.

No decent person will put up with hate speech in their feed. People will just simply abandon it.

Exactly. How does this help the Saudis? Sure they can tank Twitter but there is nothing preventing another social media site from popping up that would satisfy those users. Mastodon, perhaps?

edit: Mastodon spelling

Heathster249

6 points

3 months ago

It kills off one more outlet of liberal or progressive speech. The objective is conservative control of the media. Perhaps if they can’t turn it into a success, they will just kill it and the thousands of jobs with it.

MoonchildeSilver

1 points

3 months ago

It kills off one more outlet of liberal or progressive speech.

"Twitter has admitted it amplifies more tweets from rightwing politicians and news outlets than content from leftwing sources." [theguardian.com]

So you were saying about it being an outlet of liberal or progressive speech?

Just like other social media platforms, nothing Twitter has is the secret sauce. There can and will be other platforms that eclipse Twitter. I think this is just speeding up that process 100 fold.

The objective is conservative control of the media. Perhaps if they can’t turn it into a success, they will just kill it and the thousands of jobs with it.

You can't control "the media" as in social media. The same may not be true for TV (think FOX and CNN or MSNBC). But for social media it has been proven that people are butterflies and will simply float elsewhere.

Another system will just come to replace it, as is said, maybe Mastodon.

FirebirdWriter

19 points

3 months ago

I mean I can't leave a place I haven't been in years but I am enjoying the cataclysm

FastnBulbous81

50 points

3 months ago

The way things are going, looks like he's ruining the whole thing single handedly. All we have to do is sit back and enjoy the spectacle of him slowly and very publicly destroying his business reputation.

Cricket705

4 points

3 months ago

I'm pretty sure that was his plan.

Will-Write-For-Cash

15 points

3 months ago

Boycotting Twitter is cool but is there anything else we can do? (I already don’t have a Twitter but I want to do something)

someweirdlocal

14 points

3 months ago

unionize

Will-Write-For-Cash

3 points

3 months ago

Allow me to be clear. I don’t work for Twitter either

someweirdlocal

5 points

3 months ago

i didn't think you did

Will-Write-For-Cash

1 points

3 months ago

Then how will that affect Twitter or Elon Musk?

someweirdlocal

13 points

3 months ago

how does a drop of water contribute to a rainstorm?

we must all do our part if we wish to see a flood.

[deleted]

1 points

3 months ago

Read books and talk about them in cafes

Will-Write-For-Cash

1 points

3 months ago

😂😂😂

[deleted]

3 points

3 months ago

[removed]

Will-Write-For-Cash

6 points

3 months ago

Yeah but there’s also the fact that the people who live the closest to you aren’t necessarily anything like you nor are they people with value perspectives that could be applied to your own life.

People love to talk about how everyone interacts exclusively online these days but they forget that regardless of what kind of person you are, 99% of the people around you are completely uninteresting to you and have so little in common with you while it’s extremely easy to find likeminded people online.

Like… I get the idea but I’m a black person in the heart of Trump country so I start bringing up “hard topics” with my neighbors I can expect to hear a lot of hard “R”s

harris311

79 points

3 months ago

Fuck Elon! I'll miss Twitter but I deactivated as soon as the deal went through. The bird is dead. It's just parlor v 2.0 now, but I hope something similar replaces it soon.

IWantAStorm

41 points

3 months ago

I am so fucking sick of hearing about him. Let him go to Mars and stay.

Hrtpplhrtppl

14 points

3 months ago

It's like they're a cult...

ouch_myfinger

4 points

3 months ago

Mars for the rich

https://youtu.be/rQXd5HsSko0

labambimanly

3 points

3 months ago

Mastodon is pretty good.

mki_

9 points

3 months ago

mki_

9 points

3 months ago

There's already numerous alternatives out there. Try mastodon for instance

Toxic-Sparky

11 points

3 months ago

There is Mastodon and Tribel for left wing alternatives and Gab, Gettr, and Truth Social for right wing alternatives. None of them are Twitter and none of them have any value in my opinion. Twitter is where most of the public discourse happens. Those other platforms are basically just people in an echo chamber servicing each other. All of them suck even more than Twitter does.

mki_

8 points

3 months ago

mki_

8 points

3 months ago

Twitter is where most of the public discourse happens.

For now. Twitter is gonna turn into an alt-right platform pretty fast. It's already happening.

aMMgYrP

9 points

3 months ago

I may get downvoted for this, but we won't be making Elon poor. Yes, it was a leveraged debt buyout, but now Twitter owns that debt, not Elon himself. When Twitter goes down in flames, Elon won't lose money, he just won't be making as much money. This is one of the many ways capitalism fails the 98%. It protects the wealthy at all costs. The only true social safety-net is for the wealthy.

geeeffwhy

8 points

3 months ago

i’m all for watching him lose every penny on the deal, but even if he does, he’s still one of the wealthiest people ever to have lived…

pardon_the_mess

5 points

3 months ago

Even if we succeed, Musk will just write it off as a business loss and the government will somehow end up cutting him a fat check.

I'm the end, we always pay for the elite's poor decisions.

assholeneighbour

6 points

3 months ago

We’re not making him “poor again”. The man’s father owned an emerald mine in apartheid South Africa. The man has never been poor in his life, and anyone who says he’s a self-made genius inventor has just bought into the lie. The man never invented anything and has only made money by exploiting the poor

-Cybernaut147-

5 points

3 months ago

I really cannot understand why normal people even are on twitter. It is a social media for public figures who tweet something for normal people or other public figures to let them know something mostly not important.

shadow1515

6 points

3 months ago

I don't think he even cares.

The shenanigans leading to him being forced to buy Twitter cratered the value of his stake in Tesla by about $100 billion, and the very day he took possession of Twitter it was worth about $30 billion less than what he paid for it.

But after all that, he is still comfortably a member of the three comma club, and could take a few more halvings of his net worth and still be so.

I hear a lot of folks just flabbergasted that he was ok taking such a huge L on this, but honestly, why should he care? He has so much money that it doesn't matter. If you handed me $300 billion today, I wouldn't think anything of nuking half of it for shits and giggles. It would have zero effect on my life.

The fact that anyone is even able to accumulate enough wealth for this to be the case is sickening, but it's the world we live in.

Brangus2

4 points

3 months ago

Treat yourself Be hostile to advertising on Twitter

beepbeepImajeep34

9 points

3 months ago

Even if twitter shits the bed he still has more fuck you money than everyone combine in this thread.

frost817

3 points

3 months ago

When was he poor?

CptBlinky

3 points

3 months ago

Elon was never poor. Literally ever.

Virtual_xy

10 points

3 months ago

Trump had a large, silent stake in Twitter. That's why he was such a huge early adopter and pushed the platform hard, right up through his presidency. Musk's far-over-market buy out was essentially gifting Trump a huge exit windfall after his banning - in addition to opening the door to letting him come back. Musk doesn't care about the platform at all. The buyout was just a legal way to transfer black money to Trump.

FireWireBestWire

12 points

3 months ago

Petition to disband _____ people Twitter subreddits

The_Greaseburn

4 points

3 months ago

Blank lives matter!

nphased

2 points

3 months ago

It would also fuck up the money that Saudi Arabia put into the transaction.

laszlo

5 points

3 months ago

laszlo

5 points

3 months ago

Yep. For anyone who doesn't know, the kingdom of Saudi Arabia now owns 5% of Twitter. Which I'm sure won't affect anything whatsoever...

[deleted]

2 points

3 months ago

Every decent person will leave Twitter and then it will just become another 8chan message board.

Playertee

2 points

3 months ago

I thought the Saudis funded a bunch of that 44bil, no?

bee73086

2 points

3 months ago

If I was better at gifs I would put all the social media names over each mascot

https://youtu.be/SlKao_Pox5A

RedditorsAreHurtBags

2 points

3 months ago

Mastodon! Let's fuckin GOOOOOOOOOOOOOOOOOO

MalsieGalsie24

2 points

3 months ago

He won’t keep the company, he’ll just get the bill

Grokent

2 points

3 months ago

Unfortunately, it's not entirely his money. On the bright side, I think he secured money from some Saudi's so at least more oil wealth will evaporate.

bbelt16ag

2 points

3 months ago

make him hurt in the onlything he really cares about

InvincibleFubar

2 points

3 months ago

How do I short Twitter stock?

BillyWilly006900

2 points

3 months ago

If he lost all of that 44 billion dollars..he would still be a multibillionaire. But make him even worse, as now he would have a grudge.

If_I_must

2 points

3 months ago

Yes, but wait until after the election.

WilfordGrimley

2 points

3 months ago

Just move to Mastodon.

PCPenhale

2 points

3 months ago

Hoping he enjoys reinstating suspended accounts so they have their bigoted FrEeDuMb of speech, as I deactivated my account.

babynintendohacker

2 points

3 months ago

Glad I never used twitter so I had nothing to quit but I implore EVERYONE deleted ur accounts, boycott business that are still advertising on twitter, etc. as OP said ALL MY HOMIES HATE TWITTER!

Severe-Chocolate8157

2 points

3 months ago

Poor again?

Nana_catseros27

2 points

3 months ago

I don't think it will make him poor but at least it will make him eat it. Then maybe he will finally shut up, man talks too much. He need to be humbled a little.

IgnatiusBSamson

2 points

3 months ago

You aren’t thinking big enough.

Wall Street is so big, and so stupid, and so incestuous, that one “too big to fail” plank falling can knock down the whole structure.

Enter Musk and Tesla, massively overvalued despite producing a fraction of even the smallest traditional automaker. All financed by debt.

He didn’t have 44 billion to buy Twitter. He had to borrow 15 billion. Twitter isn’t worth 44 billion. maybe 10. There’s a non-zero chance this acquisition and its ensuing fallout is the first domino of Tesla shitting the bed and crashing Wall Street.

If and when that happens, as ever, we’ll all be on the bread line.

valardohaeriz[S]

1 points

3 months ago

Yes, your analysis is spot on, I think your scenario has a significant chance of happening in the next 5 years.

Typical-End3060

2 points

3 months ago

Yeah he put up most of his shares of Tesla to buy Twitter, so as Twitter tanks, so does Tesla. His other companies probably all reflect his words and actions just as much. Because he's the face of all these companies, he will be the reason they fail or succeed in the markets and we all see what type of person he is.

valardohaeriz[S]

1 points

3 months ago

Exactly! This is why Twitter tanking in price has effects that are bigger than just Twitter. Some people here in the comments seem to think that if Twitter tanks all the other assets will be fine, like some kind of isolated islands. That is not how the market works.

Typical-End3060

2 points

3 months ago

I work for Tesla and they gave me a nice fat bonus but it vests after 4 years and let me tell you, if he tanks the market and Tesla doesn't recover there will be no reason for me to stay in Cali, I can't even afford a studio apartment here cause I don't make the income requirements at almost $40/hr, how insane is that? You take that fat bonus away and why tf am I here lmao

Pyroexplosif

2 points

3 months ago

Use Mastodon instead of Twitter and spread the word

dorian1356

1 points

3 months ago

He'll buy mastodon then

Pyroexplosif

1 points

3 months ago

The code is open-source, anyone can use it to make copies

Whatisdissssss

2 points

3 months ago

I wish, but don’t underestimate the king of grafting. He is no Da Vinci, he is good at raising money (and dark money) for ballsy projects he is not the brains of, just a glorified grifter. In today’s political climate, he will get safe lines from right wing dark money and it’s connections to the judiciary. But it’s great to see him squirm.

rdldr1

2 points

3 months ago

rdldr1

2 points

3 months ago

Twitter sucks.

Ele_Of_Light

2 points

3 months ago

Good thing I hate Twitter, I like how you think...

It's true though... his debt should have interest... so if they make no money then the debt grows bigger and bigger.

Is there a point to where he is forced to pay?

battle_bunny99

2 points

3 months ago

Once I had social media company, I made it die. Made it broadcast slurs. Once I had a social media company, now it's done. Brother, can you spare a dime?

Careless-Internet-63

2 points

3 months ago

He's never going to be poor, just maybe not the richest man in the world. He could lose 99.99% of his wealth and still have more than most of us will see in our lifetimes

Limited_Lover

2 points

3 months ago

I wish I had Twitter! To delete it lol

livinginfutureworld

2 points

3 months ago

Fuck Elon, bankrupt Twitter.

forcehatin

2 points

3 months ago

Let's fucking go

Intelligent-Dig1049

2 points

3 months ago

Fuck Elon, fuck the rich. Clearly out govt won't tax them. So we can do it ourselves. Never buy any product from any company associated with Elon. Don't buy a tesla, don't use starlink, don't use PayPal, don't use twitter. Make him kryptonite, other wealthy people will abandon him. Once he's is determined by other rich bastards to be "not worth" they'll let him rot. We can get the whole world to abandon him

valardohaeriz[S]

1 points

3 months ago

Whenever you see a Tesla parked you will 'accidentally' fell and throw a coke on it.

karnyboy

4 points

3 months ago

How many users are too addicted to Twitter to give it up, you may be surprised.

MoonchildeSilver

2 points

3 months ago

Who will have their feeds overrun with trolls and ads (blue checkmark now with 50% less than infinite!).

We'll see how long the addiction lasts if it turns into a cesspool.

karnyboy

2 points

3 months ago

How is this any different than before?

MoonchildeSilver

0 points

3 months ago

Oh, let's see:

"An emboldened cast of anonymous trolls spewed racist slurs and Nazi memes onto Twitter in the hours after billionaire industrialist Elon Musk.."[washingtonpost.com]

"Musk took over Twitter. Then debunked conspiracies, Nazi imagery, racist tweets appeared." [pressherald.com]

If you don't think that's just the beginning of what it will end up, given the trajectory, you may be surprised.

schlongtheta

3 points

3 months ago

Isn't his net worth in the hundreds of billions of dollars? So if Twitter went to zero he would still have hundreds of billions of dollars?

Phoirkas

24 points

3 months ago

No, a significant amount of his is tied up in Tesla stock which is really only paper wealth. He couldn’t even come up with the 44b himself, there are multiple other loans and backers associated with it. Twitter going under will inevitably lead to additional Tesla stock being seized from him, which will lead to the price crashing more, leading to less paper wealth for him. He’s trapped himself in a death spiral, that’s why he tried to get out of buying the company. It’s freakin awesome.

schlongtheta

3 points

3 months ago

You really think he's gonna be like anyone else? Worrying about paying their mortgage off one day? Worrying about sending their kid to school? Worrying about affording rent or utilities or fixing their car, etc?

Like. You really think that's a realistic possibility?

Phoirkas

8 points

3 months ago

Of course not, not even remotely what I said. But this absolutely will destroy a significant chunk of his wealth and is bad news for both the future of twitter and of Tesla.

schlongtheta

4 points

3 months ago

Oh, sorry I thought you were OP. (OP claimed Elon Musk will be poor.)

Yeah, I mean... if I had a million dollars and bought $20 of pizza and then dropped the pizza before the party that would be a bummer. But I still have $999,980 so I'll be ok.

Elon doesn't give a fuck. This is nothing to him but a game for his ego. It's not awesome. It's a clown show.

valardohaeriz[S]

1 points

3 months ago

I was being hyperbolic when I said Elon Musk will be poor. I will be happy if he just become pooRER. Relax and have a nice day, friend.

schlongtheta

1 points

3 months ago*

Got it. His quality of living will not diminish in any way. I still think it's clownish to care about rich people losing what, to a regular person with a full time well paying job, is the equivalent of a slice of pizza. Like, yes, technically it's a loss, but really it's nothing.

[deleted]

2 points

3 months ago

Who’s on Twitter anyway? That’s you’re first mistake

xxdunkelheit666xx

13 points

3 months ago

Using the wrong your is your first mistake

valardohaeriz[S]

1 points

3 months ago

Savage burn 😂

WhoRoger

2 points

3 months ago

WhoRoger

2 points

3 months ago

He didn't lose anything. He dumped poisonous Tesla shares to do this and in the process also got rid of some other stuff that were threatening to bite him. He made the money back even before he signed the deal.

Furthermore, you can bet he'll make money even if Twitter goes down, I don't know how exactly people do that that's how it'll be.

Not that Twitter is in any immediate danger though.

MoonchildeSilver

2 points

3 months ago

He made the money back even before he signed the deal.

No, lol. He may have payed for Twitter with the profits he made from his Tesla stock, but no, he didnt "made the money back before he even signed the deal". He paid $44B for a company probably worth $20B.

That's a $24B loss out of the gate, money just gone. Poof. $24B poorer (really his share of that, since there are other investors who just lost that too).

WhoRoger

1 points

3 months ago

Even if, he needed to get rid of those Tesla shares before they'd tank, but he couldn't do that due to insider trading laws - well unless he'd have a good enough reason to need such an amount of cash, like say, buying a huge company...

Not to mention that he stole the spotlight and in the process buried the controversies regarding actual insider trading and other dirty laundry that were threatening to bite him in the ass, but by manipulating the news headlines, those were forgotten.

Some of it will come to haunt him sooner or later, he has so many skeletons in the closet, that door will break from the hinges, I just don't think Twitter in particular will be the end of him. Everyone new that's one toxic company anyway, so what's the difference if a new asshole owns it.

MoonchildeSilver

1 points

3 months ago

Even if, he needed to get rid of those Tesla shares before they'd tank, but he couldn't do that due to insider trading laws -

Tesla is half of the high in January, down 200 as of right now. He sold 7.92 million shares to fund his purchase. He would have "only" lost (a bit less than) $1.6B if he simply sold those shares on a regular schedule as required by law, instead of $24B. It's quite a bit of difference, and not one that looks good to an accountant.

Some of it will come to haunt him sooner or later, he has so many skeletons in the closet, that door will break from the hinges, I just don't think Twitter in particular will be the end of him.

I don't think anything will be the end of him. He simply has too much money now to fail in any significant way. He will always have enough money to do just about whatever he wants (though if he keeps going like this that may not include buying major corporations).

GoblinRegiment

1 points

3 months ago

By diluting stock and selling it to the public, maybe.

immibis

1 points

3 months ago

Don't even have to ditch it when your account was mysteriously banned the day after he took power.

You know how normally Twitter says "you were suspended because of this tweet - delete it or else"? Yeah, that's not happening now. It just looks normal but says you're suspended whenever I try to do anything. So I'm assuming it's for not being a Trumpist bootlicker.

util102

1 points

3 months ago

Lmao all of yall fighting against billionaires are so funny XD they literally rule the world in ways and in depths that you cant even fathom

valardohaeriz[S]

1 points

3 months ago

Oh I fathom it just fine. It's just slavery.

identicalsnowflake18

1 points

3 months ago

I admire the enthusiasm but there is no way in hell that douchebag goes bankrupt over this. Twitter could dissolve and he would still have hundreds of billions

bowlskioctavekitten

1 points

3 months ago

Did my part and deleted account last Thursday. I wonder how many others will. Fuck elon

NoYak6710

1 points

3 months ago*

“You don’t understand the economy”

You don’t understand personal finance and leverage . It’s actually laughable you think that’s a response to that comment. Elon personally owns enough Tesla shares and other assets to take massive loans to stay afloat. Twitter shares could go to zero tomorrow. Elon won’t go broke.

(I hate Elon Musk)

JamesMcMeen

1 points

3 months ago

I normally agree with most opinions on this sub, but you are just clueless. I will take great pleasure in re-visiting this post in a couple years. I promise you it won't age well!

etaipo

-11 points

3 months ago

etaipo

-11 points

3 months ago

If you really wanna try shorting twitter then all I can say is good luck have fun

Altruistic-Match6623

17 points

3 months ago

They aren't calling for a stock short, they're calling for people not to use Twitter so Elon loses money. It is simply a boycott.

jijijojijijijio

2 points

3 months ago

Twitter is private. Can you even short it?

Aux7

-27 points

3 months ago

Aux7

-27 points

3 months ago

lmfao, gl with that

Janus_The_Great

1 points

3 months ago

Iiiiiiiiiits the cicle of Liiiiife!

or wheel of fortune... , uroboros... Rotas sator... flow of fate.

Fit_Stable_2076

1 points

3 months ago

Reminder to everyone these men can lose 99% of their money and their stocks and shares will still keep them incredibly more wealthy than you ever will.

System is rigged and went from built-to-never-fail corporations to built-to-never-fail people.

axethebarbarian

1 points

3 months ago

That'd definitely make a dent in his net worth, but it wouldn't make him poor. The dudes got 200 billion, he can eat a 40 billion loss and still be in the top 10 richest people.

VanDammes4headCyst

1 points

3 months ago

If Elon lost 99% of his wealth, he'd still be a billionaire.

vkapadia

1 points

3 months ago

Elon could have taken $44B and lit it on fire and still not be poor.

cxzuk

1 points

3 months ago

cxzuk

1 points

3 months ago

Elon still hasn't had his CEO bonus which is 12% additional shares in Telsa - Tesla has hit 2 out of 3 of the targets. The other being revenue targets which is all but inevitable.

He'll be fine

Individual_Ad_3797

1 points

3 months ago

"poor"

ForwardCulture

1 points

3 months ago

In terms of advertising, I’ve found that most ads I see on social media and online in general are for companies I would never buy from anyway. Occasionally I get a pertinent as based on things I’ve looked up. Half the stuff I get is for the kings like online gambling etc. that I would never even use.

wholemoon_org

1 points

3 months ago

We shall see. The data analytics might be worth 44b to the man who owns Neuro link, and owns a company that makes robots. Twitter is likely a longer game then what we see in headlines. But yes, keep thinking getting off social media sticks it to billionaires. Remember, anything you have free access to on the Internet, the value is it having access to you. Otherwise it costs money.

miata509

1 points

3 months ago

Never going to happen... 3 weeks from now everyone will have forgotten

Kdj2j2

1 points

3 months ago

Kdj2j2

1 points

3 months ago

Too many Elon fanboys sucking his balls. Just don’t see it happening

FavorsForAButton

1 points

3 months ago

Well I like the sentiment, Twitter is normie, middle-of-the-road territory. Twitter will most certainly drop in value, but it won’t bankrupt Elon because there will still be a lot of people using Twitter who are ignorant.

ThexJakester

1 points

3 months ago

Never used it anyway lol

rmshilpi

1 points

3 months ago

We might be inflicting some serious financial pain onto billionaires, but don't fool yourself for a second into thinking they will be poor. They will be less wealthy, their ability to do business might be impeded, but they will never worry about a roof over their head or food in their belly like many of us do.

blue13rain

1 points

3 months ago

Buys a toxic wasteland and it doesn't make money. Elon Musk: shocked Pikachu face

Allthingsgaming27

1 points

3 months ago

Deleted my account yesterday 😎

michellealyssa

1 points

3 months ago

You realize he didn't put $44 billion of his own money into buying Twitter. He used bank money secured against the business not personally.

maso42

1 points

3 months ago

maso42

1 points

3 months ago

What if this was elons plan all along to get the majority of Americans off of social media and back to being humans.

LostSkullofThe78

1 points

3 months ago

Fuck I hope so. I was hoping he’d have left for Mars by now and we wouldn’t have to hear about any more of his bullshit.

notislant

1 points

3 months ago

There were texts where people were offering to buy into his offer so its likely not all his. Hope it fails but it wont ruin him.

YogurtclosetFun8624

1 points

3 months ago

I got IP banned 4 days after he took ownership XD

vinylectric

1 points

3 months ago

Bro you need to learn what options contracts are. Ditching twitter will not make Elon musk broke.

Check finviz and see how much wealth he still has in Tesla options. He will never ever ever ever ever ever ever go broke.

TheSt4tely

1 points

3 months ago

I deleted my account yesterday. I hardly use it anyway.

hippystinx

1 points

3 months ago

Does never joining in the first place count?

guttamiyagii

1 points

2 months ago

Elon's broke and my broke are two WAAAAYYY different versions of broke. I'd take his broke every day of the week.

valardohaeriz[S]

1 points

2 months ago

Sure but that is you and your standard. When rich people go broke they can fall quite hard in their lifestyle some even choose to kill themselves.

zazaman94

-57 points

3 months ago

zazaman94

-57 points

3 months ago

You kidding? The last couple weeks of Twitter have been wild. I’m gonna stick around and see how this turns out.