Well, that didn't take long

Twitter Inc's new owner Elon Musk on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a U.S. privacy regulator and the exit of the company's trust and safety leader.

The billionaire on his first mass call with employees said that he could not rule out bankruptcy, Bloomberg News reported, two weeks after buying it for $44 billion - a deal that credit experts say has left Twitter's finances in a precarious position.

https://www.reuters.com/technology/twitter-information-security-chief-kissner-decides-leave-2022-11-10/

I thought this guy was supposed to be a brilliant businessman who was going to make Twitter even more relevant, not an inept clown who was going to destroy it. Of course, the Musk fanbois will tie themselves in knots to justify this, same as they did for Musk's clampdowns on free speech.

Northwest · M

Musk is personally on the hook for $11B, and he can't get out of it, if Twitter went Chapter 11. The money came through a loan, personally guaranteed by Musk.

The rest of the loan, came from banks/funds, that were guaranteed by people like Larry Ellison, and even P Diddy, as well as a who's who of "conservatism". They are personally on the hook.

I am not big on conspiracy theories, but all these people/institutions, had to be talked into it, somehow, by Musk.

Jason Calacanis was the primary salesman, who convinced the group that charging a subscription fee, is the solution. Funny thing, is the Andreessen Horowitz VC firm, one of the primary investors, founded by Mark Andreessen, the guy who started Nestsacpe, knows exactly how much to charge for something that's offered for free: 0.

Perhaps the goal was to actually shut Twitter down?

Northwest · M

@SW-User There should be a $B tax. At some point, the peasants will be start polishing off their pitchforks.

SW-User

@Northwest I was particularly surprised to see Andreessen Horowitz on board with this ...

And I'm still not convinced Dorsey is doing anything other than some protocol that seems unlikely to ever go anywhere in terms of adoption by all social sites. Any demo site for this protocol is looking like vaporware, considering the idea began as a Twitter project.

And to me it's nutty to see how many times @jack has tweeted or retweeted about #bitcoin but that's another topic ....

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Moreover, does this Dave Troy's ongoing writings about this Twitter and Bluesky saga strike you as conspiracy theory or not conspiracy theory?

https://similarworlds.com/social/twitter/4510693-What-are-you-thoughts-on-this-writers-take-on-Musk