this post was submitted on 18 Sep 2023
359 points (100.0% liked)
Technology
37724 readers
667 users here now
A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.
Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.
Subcommunities on Beehaw:
This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I hope he buys reddit next
I think he should seriously consider buying Meta so that we can watch it crash and burn just like Xitter. Facebook is the cancer of the internet and it deserves to go too.
Unfortunately, Twitter was only up for sale because it wasn’t able to effectively monetize. On the other hand, Meta has figured out how to make money hand over fist.
I think the easiest route to get Musk to own Meta is if we goaded him + Zuck into a pay per view fist fight over ownership of Meta.
How about we upgrade that to a thunderdome with chainsaws?
Twitter was profitable in the years before covid. They made a net income of $1.2 billion in 2018.
They made a slight (compared to their revenue) loss during the pandemic, presumably because advertisers generally were willing to spend less, but they were still earning more than enough - simply cut a few costs and they'd be profitable again. Or just wait for the market to improve since from the sounds of it they had more than enough savings to ride it out (that appeared to be their plan).
They didn't sell to Musk because they were desperate, they sold to Musk because he signed a contract guaranteeing he would pay far more than the company was worth. If I owned a house that was worth a million dollars, and someone offered me ten million, hell yeah would I sell that house even if I wasn't really interested in selling.
Beautiful idea