X is profit or loss? Musk got 65bn$ post- election.
Did he gain or lose?
Let’s discuss about loss first.
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In a move that shocked the tech and social media industries, Elon Musk acquired Twitter for a staggering $44 billion in October 2022.
Musk described the purchase as an opportunity to promote free speech, improve the platform’s algorithms, and revolutionize the way social media operates.
Day one as CEO of Twitter, fired half of employees…dahhhh….
Mass Layoffs: While this move may have been seen as necessary for streamlining operations, it led to an exodus of key talent and a noticeable decline in platform stability and user experience.
Frequent technical glitches, downtime, and even security breaches have plagued the platform, alienating both users and advertisers alike
Some of the CEO’s actually appreciated him with the move and in the backend, they enjoyed saying……VOW!!!!!!!!!!
Two years later he renamed the platform to X.
Revenue Losses: One of Musk’s first actions after acquiring Twitter was to overhaul the company’s advertising model. Twitter had been heavily reliant on ad revenue, but under Musk, advertisers pulled back due to concerns over content moderation and the rise of hate speech on the platform.
