Twitter Takeover Is Now the Worst Buyout for Banks Since the Financial Crisis

https://www.wsj.com/tech/elon-musks-twitter-takeover-is-now-the-worst-buyout-for-banks-since-the-financial-crisis-3f4272cb

by ot • 2 years ago

64 19 2 years ago

wsj.com

voltagex_• 2 years ago

lol. lmao even.

WesSouza2• 2 years ago

roflcopter may I add.

MiguelX413• 2 years ago

WesSouza2• 2 years ago

https://archive.ph/20240820140244/https://www.wsj.com/tech/e...

Am4TIfIsER0ppos• 2 years ago

Oh no not the banks! This says they're still getting interest payments, "hefty" ones at that so they can't complain too much. Bastards.

anonfordays• 2 years ago

"The resulting write-downs have hobbled the banks’ loan books and, in one case, was a factor that crimped compensation for a bank’s merger department, according to people involved with the deal."

Won't someone think of the M&A attorneys making seven figures? They may not be able to afford their country club membership this year!

darth_avocado3• 2 years ago

The merger department failed to do its due diligence. Serves them right.

davidw• 2 years ago

You'd kind of expect someone to get fired for screwing up that badly.

darth_avocado3• 2 years ago

Gee, who would’ve thought. Maybe buying a company in a domain you know nothing about, firing 80% of the staff who do know how to run it, and antagonizing advertisers that are your main source of revenue isn’t great for business.

lesuorac2• 2 years ago

I mean you can antagonizing advertisers or users as much as you want as long as your service works.

Elon's airplane tracker is on twitter despite elon sueing the guy [1].

Advertisers don't come back to twitter because it's just doesn't have the functionality they want. There are many other large social media platforms out there they can advertise on and when those platforms have better tracking and targeting those are the platforms they use. It's nothing personal; just business.

[1] https://www.theverge.com/2022/12/23/23524060/twitter-elon-mu...

leereeves2• 2 years ago

Elon's airplane tracker is on twitter despite elon sueing the guy [1].

When was the last time he posted the jet's location? Seems like it was in 2022.

tim333• 2 years ago

I use twitter and it seems to work but the big brands didn't like things like Musk tweeting 'exactly right' to some comment about 'the jews' pushing anti white racism and similar stuff. I'm not sure there are any large brands left see eg. https://www.reddit.com/r/Twitter/comments/1896e5u/what_major...

And I'm not sure the recent ploy of suing them for not advertising is going to work great.

endejerv• 2 years ago

which part of twitter suffers because he fired people?

darth_avocado3• 2 years ago

Everything

Andaith• 2 years ago

I keep seeing people say this because the site is still running, but here's some very clear examples:

* Ron Desantis Campaign Kick-off Twitter Spaces - crashed.

* Elon interviews DJT in Twitter Spaces - crashed.

* No more moderator team, not as much effort against bots - advertisers fleeing because they don't want their brands associated with such content.

bzmrgonz• 2 years ago

Was that elons ace? Borrow enough from the banks to make x too big to fail???

Twitter Takeover Is Now the Worst Buyout for Banks Since the Financial Crisis

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