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Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price (techcrunch.com)

submitted 2 months ago by [email protected] to c/[email protected]

196 comments fedilink hide all child comments

"Fidelity is currently valuing X at about $9.4 billion"

I found this funny.

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[–] [email protected] 62 points 2 months ago (21 children)

We knew this was going to happen before he made the purchase.

Everyone said, the best way for Elon to keep his money was to change very little, or even take a hands-off approach.

Masnick suggested this would happen

It was that and so much worse. Moral of the story: Running a huge social media service is hard. Maybe don't assume that because you're a billionaire you're the best at doing stuff.

[–] [email protected] 20 points 2 months ago (6 children)

Meanwhile he is on track to become the world's first trillionaire

I think the purchase was more about welding power than any financial gain

[–] jaemo 3 points 2 months ago (1 children)

Now, call me crazy, but if I was optimizing for maximum welding power, I'd start with oxy acetylene and at least try a few other options. How would buying a website even be a good start?