🙄

    • sol@thelemmy.club
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      1 year ago

      No rich person is actually smart, they are all addicted to money and can’t get help over it. But their moves in the business world are all calculated, this guy is doing exactly what he wants to do and their goal is to make money not to lose them.

      • PopOfAfrica@lemmy.one
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        1 year ago

        Smart people are more risk adverse. It seems like the only way to become mega wealthy is to haphazardly gamble. We only hear about the successes due to survivorship bias.

        They really are just lucky bastards.

        • ObiGynKenobi@beehaw.org
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          1 year ago

          Lucky, or in Elmo’s case, born with a platinum spoon in his mouth thanks to daddy’s apartheid emerald mines.

          • Doug [he/him]@midwest.social
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            1 year ago

            That’s a very big part of it.

            When fucknugget wanted to start a company he had plenty of credit either on his own, with his name, or both. If he blew 50k in an attempt he could try again next week.

            If I blew 50k I’d be homeless.

            It’s way easier to high stakes gamble when you won’t notice you lost.

        • sol@thelemmy.club
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          1 year ago

          They are lucky because the average person won’t even bother checking out on wikipedia how they become so rich

      • ipkpjersi@lemmy.one
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        1 year ago

        this guy is doing exactly what he wants to do and their goal is to make money not to lose them.

        How does this make him money exactly? lol

        He is literally just killing off his website.

        • sol@thelemmy.club
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          1 year ago

          My guess: the same way the now called Meta benefited from stalling facebook and moving people to their other platforms like instagram. These marketers perceive everything in market terms, twitter is old and they need to release a brand new product to hook people up

        • Banzai51@midwest.social
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          1 year ago

          I’m waiting for the next step when he tries to add features to make X whatever he envisions. Oh, those devs I fired. Hey, why can’t we hire anyone? No one wants to work.

        • sol@thelemmy.club
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          1 year ago

          Money are an addiction just like smoke, sex or drugs. If you can’t cope with being addicted to gold at the end of the day you are dumber than some kids

    • TheYang@lemmy.ml
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      1 year ago

      Depends.

      If he thinks Twitter is irreperably dying, this may be a way, in which he can get out of repaying the loans he used to (partially) fund the buyout of twitter.

      • agentsquirrel@beehaw.org
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        1 year ago

        If you’re thinking this an “artist formerly known as Prince” sort of thing where Prince got out of a contract, I’m sure all the debt holders have the proper legal verbiage to have agreements remain valid in the event of a name change.

        • BeigeAgenda@lemmy.ca
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          1 year ago

          The lenders lawyer arrives at the Twitter office:

          Lawyer: This is Twitter, is it?

          Musk: (with a fake mustache) No, it’s X.

            • BeigeAgenda@lemmy.ca
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              1 year ago

              That makes me think of the theory about Saudi Arabia and probably other countries have had it in for Twitter since Arab Spring.

              So this is just Elon doing as instructed: “Make Twitter disappear, but make it look like an accident”

        • TheYang@lemmy.ml
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          1 year ago

          depends how the loans worked.
          I was assuming his majority shares of X (ex Twitter) collateral.
          And that that he could just go “yeah, go on, collect on your collateral, I don’t mind”, because it’s not worth anything anymore.

          But admittedly I have no Idea how the contracts were drawn up, if this is possible and if his other money would be available to collect on.

      • milkjug@beehaw.org
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        1 year ago

        At some point some creditor should be desperate enough to do a margin call, since the loan collateral is next to worthless.