Elons Little Plan

DIY-HP-LED

DIY-HP-LED

Well-Known Member
Traffic is up on Twitter Elon, because everybody is curious about your self-destruction and how you paid $44 billion to get shit on by millions on your own platform. Viewers are not the same as celebrities and content creators who draw eyeballs to the site and advertisers are concerned about brand safety and that's where the needed money comes from. Anybody with a Google or Apple account can sign in and there is an opportunity for a social media company that does the same thing Twitter does, just using other code and graphics. You would think some other billionaire would have scooped up Elon's fired Twitter staff and done just that, for a fraction of the price too.

https://twitter.com/i/web/status/1589791846737522688
 
HGCC

HGCC

Well-Known Member
I dont have a Twitter, but is it wrong to go cyber bully him? He really must have an enormous shame boner he is stroking at the moment.
 
DIY-HP-LED

DIY-HP-LED

Well-Known Member
PJ Diaz said:
LOL @DIY-HP-LED for someone who hates Elon so much, you sure do use his newest product a lot. I can't wait to see your next Twitter link post.
Click to expand...
I've been watching him get roasted alive on his own platform and wonder, he paid $44 billion for this? :lol: Other than the latest war news in Ukraine that's about it, I don't tweet. The place is full of bots, trolls and propaganda, especially about Ukraine. I figure Elon made a mistake with Twitter competition is plentiful and it can be cloned for a fraction of the price, perhaps using his laid off staff. His revenue will continue to dry up unless he moderates the platform and charging for shit won't fly and neither will a paywall. I never signed up but sign in using my Google account. Advertisers are concerned about brand safety, its why parlor doesn't have any ad revenue. He better hope the republicans win congress or he might be sitting in front of it on the hot seat.
 
hanimmal

hanimmal

Well-Known Member
It does suck for all those employees.

There will be a big influx in computer literate employees though from all this downsizing in tech platforms.
 
hanimmal

hanimmal

Well-Known Member
PJ Diaz said:
Elon isn't the only big tech exec with these problems right now.

www.cnbc.com

Meta laying off more than 11,000 employees: Read Zuckerberg's letter announcing the cuts

Meta is laying off 13% of its staff, or more than 11,000 employees, CEO Mark Zuckerberg told employees on Wednesday.
www.cnbc.com www.cnbc.com
Click to expand...
I don't know how many people work for crypto companies, but they are getting smashed atm too.

https://apnews.com/article/cryptocurrency-technology-business-bitcoin-3b94bc0656a60a7b65fe532112c3279f
Screen Shot 2022-11-10 at 9.38.09 PM.png
NEW YORK (AP) — Cryptocurrency prices plunged for a second-straight day after crypto exchange Binance said it was pulling out of a deal to purchase failing rival FTX Trading.

Bitcoin sank to a two-year low after Binance confirmed earlier rumors and news reports that it was ready to back out of the FTX deal, struck between the CEOs of the two exchanges on Tuesday. The deal was pending Binance’s due diligence on FTX’s balance sheet.

After an initial review, Binance said in a statement Wednesday that it had significant concerns that convinced it to back out of the deal.

“In the beginning, our hope was to be able to support FTX’s customers to provide liquidity, but the issues are beyond our control or ability to help,” Binance said in a statement.

The price of bitcoin plunged more than 13% to $15,840, according to CoinDesk, its lowest level since November 2020. It had been above $20,000 earlier in the week. The other major cryptocurrency, Ethereum, dropped 13%.

FTX had agreed to sell itself to Binance after experiencing the cryptocurrency equivalent of a bank run. Customers fled the exchange after becoming concerned about whether FTX had sufficient capital. The sudden sale was a shocking turn of events for FTX CEO and founder Sam Bankman-Fried, who was hailed as somewhat of a savior earlier this year when he helped shore up a number of cryptocurrency companies that ran into financial trouble.

FTX’s own crypto token, known as FTT, plunged more than 50% on the reports. The token, now worth around $2.50, was worth 10 times that amount only a week ago. Many of crypto investors’ concerns centered on whether the balance sheet of an affiliated company of FTX known as Alameda Research was saturated with increasingly worthless FTT tokens, whose total value would not exceed the exchange’s liabilities, effectively making FTX insolvent.

After Binance had a chance to look at the books of FTX, it became clear that the problem was too big to solve. A person familiar with the matter, who couldn’t speak publicly because he was not authorized, described the books as a “black hole” in which it was impossible to differentiate between the assets and liabilities of FTX the exchange and those of the Alameda Research hedge fund.

“The books were a nightmare, and the relationship between FTX and Alameda was incestuous at best,” the person familiar with the matter said.

In a further illustration of FTX’s financial straits, Bankman-Fried asked his investors Wednesday for $8 billion to cover withdrawal requests, according to The Wall Street Journal, citing unnamed sources.

FTX is now reportedly under investigation by U.S. authorities for how it handled customers’ deposits, according to Bloomberg News and other media outlets.

Shares of publicly traded exchanges exposed to crypto also plunged on the developments. Robinhood shares closed down roughly 14% and Coinbase shares lost around 10%.

FTX is the latest cryptocurrency company this year to come under financial pressure as crypto assets have collapsed in value. Other failures include Celsius, a bank-like company that took in crypto deposits in exchange for yield, as well as an Asia-based hedge fund known as Three Arrows Capital.
Click to expand...
 
You must log in or register to reply here.
Top