Elon Musk bought Twitter.

[Biffer]

Jesus just looked on Greta Thunbergs twitter. It's absolutely awash with abusive lunatics. Well done Elon

However, her interaction with Andrew Tate yesterday has led to him being arrested for human trafficking. So there’s a little bit of good news.

[Guy Smiley]

Jesus just looked on Greta Thunbergs twitter. It's absolutely awash with abusive lunatics. Well done Elon

However, her interaction with Andrew Tate yesterday has led to him being arrested for human trafficking. So there’s a little bit of good news.

ER makes a decent point though...

she's like catnip for angry white guys.

[Dinsdale Piranha]

Tesla has bemused me for years. I remember posting a long time ago you never saw a tesla in Ireland and here he was touted as one of the richest men in the world. Granted you do see them now but they are a tiny number. I read earlier in the year they had passed 2000 total ever sales in the country. We are a small market but the sums have never added up to me. To be fair makey uppey investment wealth is like that and he has nakedly pulled the levers

Ditto. Have commented for years that I could not see how Tesla was a sustainable business model. It's the car equivalent of the worst of .COM stocks. Seems the chickens have awoken and margin calls are the next order of the day.

Tesla was always going to get shown up as other car makers entered the same niche market. Now, that niche is on the verge of becoming THE substantial sector within the industry... and Tesla is going to get burnt in the rush.

Tesla has around 2% market share in the USA. BMW has about 2.2% Tesla got there in 8 years. BMW got there in 50 years.

Tesla is not a niche player any more. It also has a significant technology lead in batteries and electronic systems. The stock may well be over valued but Tesla is the company taking market share from everbody else.

[Guy Smiley]

Ditto. Have commented for years that I could not see how Tesla was a sustainable business model. It's the car equivalent of the worst of .COM stocks. Seems the chickens have awoken and margin calls are the next order of the day.

Tesla was always going to get shown up as other car makers entered the same niche market. Now, that niche is on the verge of becoming THE substantial sector within the industry... and Tesla is going to get burnt in the rush.

Tesla has around 2% market share in the USA. BMW has about 2.2% Tesla got there in 8 years. BMW got there in 50 years.

Tesla is not a niche player any more. It also has a significant technology lead in batteries and electronic systems. The stock may well be over valued but Tesla is the company taking market share from everbody else.

Nah...

I bought a BYD Atto3 a month or so ago. Excellent car, I'm really happy with it. The battery technology is different, more efficient. They have something like 6-8 new models in the pipeline for next year... a small car, a large car, a van, a ute or pick up and a people mover that I know of.

They're just one player in the market. Hyundai are kicking goals for the fun of it and have something of a partnership with KIA, sharing a platform. The vehicles are getting rave reviews, they come in either below or at the same price point as Tesla and they're delivering... on time.

Tesla don't have a lead anymore. They're in the pack... and the pack is aggressive.

[Biffer]

Ditto. Have commented for years that I could not see how Tesla was a sustainable business model. It's the car equivalent of the worst of .COM stocks. Seems the chickens have awoken and margin calls are the next order of the day.

Tesla was always going to get shown up as other car makers entered the same niche market. Now, that niche is on the verge of becoming THE substantial sector within the industry... and Tesla is going to get burnt in the rush.

Tesla has around 2% market share in the USA. BMW has about 2.2% Tesla got there in 8 years. BMW got there in 50 years.

Tesla is not a niche player any more. It also has a significant technology lead in batteries and electronic systems. The stock may well be over valued but Tesla is the company taking market share from everbody else.

However, it’s more difficult for Tesla to expand from here. To increase supply they need to build entirely new factories and recruit entirely new staff. Other companies need to change existing supply and manufacture facilities. That should not be underestimated as it’s now Tesla’s biggest business problem.

[dpedin]

Tesla was always going to get shown up as other car makers entered the same niche market. Now, that niche is on the verge of becoming THE substantial sector within the industry... and Tesla is going to get burnt in the rush.

Tesla has around 2% market share in the USA. BMW has about 2.2% Tesla got there in 8 years. BMW got there in 50 years.

Tesla is not a niche player any more. It also has a significant technology lead in batteries and electronic systems. The stock may well be over valued but Tesla is the company taking market share from everbody else.

However, it’s more difficult for Tesla to expand from here. To increase supply they need to build entirely new factories and recruit entirely new staff. Other companies need to change existing supply and manufacture facilities. That should not be underestimated as it’s now Tesla’s biggest business problem.

Not sure BMW is the main threat - Toyota and Honda with over 20% share between them and huge manufacturing capacity between them works wide are the main threats. Once they get into gear (see what I did there!) with new electric ranges and undercut the market on price and quality then Tesla will really struggle to compete on both metrics. I suspect Tesla will remain a niche product with high prices in a very competitive market.

[Biffer]

Tesla has around 2% market share in the USA. BMW has about 2.2% Tesla got there in 8 years. BMW got there in 50 years.

Tesla is not a niche player any more. It also has a significant technology lead in batteries and electronic systems. The stock may well be over valued but Tesla is the company taking market share from everbody else.

However, it’s more difficult for Tesla to expand from here. To increase supply they need to build entirely new factories and recruit entirely new staff. Other companies need to change existing supply and manufacture facilities. That should not be underestimated as it’s now Tesla’s biggest business problem.

Not sure BMW is the main threat - Toyota and Honda with over 20% share between them and huge manufacturing capacity between them works wide are the main threats. Once they get into gear (see what I did there!) with new electric ranges and undercut the market on price and quality then Tesla will really struggle to compete on both metrics. I suspect Tesla will remain a niche product with high prices in a very competitive market.

Exactly. The existing mass manufacturers will mass manufacture. Tesla has never done that at the same scale, and scale up is fucking difficult - as they’re finding out atm

[Torquemada 1420]

Edit: exhibit H article https://www.theatlantic.com/technology/ ... -h/672595/

Behind a paywall.

[Torquemada 1420]

Tesla made no sense: a company whose share value seemed inversely proportional to the losses it made. What did it lose in 2021? $5bn?

What presence it had was all built on hot air (ahem) i.e. selling over priced milk floats to idiots with deep pockets and even deeper snob values.

As an aside, I still think the electric route is a mistake that will either fail or become a short route, small carriage niche (like mopeds are).

[Calculon]

any chance that Tesla might go bankrupt in the next 5 years?

[Gumboot]

[Hal Jordan]

Tesla made no sense: a company whose share value seemed inversely proportional to the losses it made. What did it lose in 2021? $5bn?

What presence it had was all built on hot air (ahem) i.e. selling over priced milk floats to idiots with deep pockets and even deeper snob values.

As an aside, I still think the electric route is a mistake that will either fail or become a short route, small carriage niche (like mopeds are).

So what do you think will replace the internal combustion engine?

[Ymx]

Tesla made no sense: a company whose share value seemed inversely proportional to the losses it made. What did it lose in 2021? $5bn?

What presence it had was all built on hot air (ahem) i.e. selling over priced milk floats to idiots with deep pockets and even deeper snob values.

As an aside, I still think the electric route is a mistake that will either fail or become a short route, small carriage niche (like mopeds are).

Isn’t it hitting profit in 22?

Where are the latest financials?

[Ymx]

Financials in the black according to this.

https://www.sec.gov/Archives/edgar/data ... 220930.htm

Page 5

[yermum]

Edit: exhibit H article https://www.theatlantic.com/technology/ ... -h/672595/

Behind a paywall.

Spoiler

Show

As the year comes to a close, I cannot stop thinking about … a court document. Plaintiffs in Twitter, Inc. v. Elon R. Musk et al. filed Exhibit H just before sunrise on September 29 in Delaware’s Court of Chancery. If you’ve seen excerpts, you probably know it by its street name: Elon Musk’s texts.

Exhibit H is remarkable insomuch as it is a spreadsheet containing the private messages between the (then) richest man in the world and his friends, associates, and hangers-on while they discuss buying one of the world’s most influential communications platforms—just for kicks. Leafing through Exhibit H, you will feel like you should never have seen these communications, and yet there they are, on display for the hordes of the internet, courtesy of the legal system.

I wrote about the texts back in September, arguing that they demonstrated “just how unimpressive, unimaginative, and sycophantic the powerful men in Musk’s contacts appear to be.” I still believe that. But now, armed with three months of hindsight, I’ve begun to think of Exhibit H as a skeleton key for the final, halcyon days of the tech boom—unlocking an understanding of the cultural brain worms and low-interest-rate hubris that defined the industry in 2022. What we see in Exhibit H is only a tiny snapshot of a very important inbox, but it’s enough to make this one of the most revealing documents in a year that’s been absolutely overflowing with tech disclosures—from Peiter Zatko’s leaks, to FTX’s balance sheet, to the “Twitter Files” championed by Musk himself.

Beyond the obvious tabloid intrigue, what’s most striking is how Musk’s texts shed light on two of 2022’s biggest tech meltdowns. If you came out of a lengthy coma in mid-December, puzzled by headlines about collapsing crypto exchanges and once-beloved entrepreneurs behaving like villains, you could read a copy of Exhibit H and understand everything with surprising clarity. The texts are, of course, a guide to the events that ultimately led Musk to purchase Twitter—a decision that has tanked his net worth, saddled his new asset with debt, and led to the quick erosion of his reputation as a savvy businessman. But also lurking in Musk’s inbox is Sam Bankman-Fried, the founder of the now-collapsed crypto exchange FTX, who was arrested in the Bahamas when federal prosecutors charged him with defrauding investors and customers.

For better or worse, Musk’s Twitter takeover and SBF’s downfall are two of the most symbolically resonant tech stories of 2022. You could view them as reckonings for supposed tech visionaries and the ways in which Silicon Valley’s hype machine dashes against the rocks of reality. It’s unfair to suggest that a few personalities are behind all of tech’s troubles—which this year included layoffs at companies such as Meta and Snap and a general feeling that we may be approaching the end of the social-media era—but the Musk texts demonstrate a decadence, an unearned confidence, and a boy’s-club mentality that coincide with the cultural disillusionment regarding the genius-innovator narrative.

In June, I snarkily coined the Elon Musk School of Management to describe the petulant way that some tech founders, such as Musk and Coinbase’s Brian Armstrong, seemed to use confrontational, culture-warring, Twitter-addled thought leadership as a business tactic. The Musk School revolves around two principles: running a company in an authoritarian manner, and ensuring that every management decision is optimized to make news and hijack the attention of those following along on social media. One can see this exact mentality at work in the Musk texts. In message after message, contacts urge Musk to take control of Twitter and solve its problems as only he can. This trend extends beyond Twitter: This year, Musk’s peers at companies such as Meta cracked down on employees, hoping to usher in a more authoritarian brand of management after years of free lunches, competitive perks, and remote work.

The Musk messages also reveal how some of the richest and most powerful men in the world treat actual billions of dollars with a level of care more appropriate for a 3-year-old tossing around Monopoly cash. Oracle’s founder, Larry Ellison, essentially writes Musk a blank check over text, pledging, “A billion … or whatever you recommend.” The venture capitalist Marc Andreessen unsolicitedly offers Musk “$250M with no additional work required.” And Michael Grimes, a top investment banker at Morgan Stanley, proposes a meeting with Bankman-Fried as a way to “get us $5bn equity in an hour.”

“Does Sam actually have $3bn liquid?” Musk asks. (It’s unclear why he got the number wrong.) Grimes says that he believes so. Musk appears nonplussed but willing to do whatever is necessary to get some quick cash: “So long as I don’t have to have a laborious blockchain debate,” he quips. (Seven months after this exchange, Bankman-Fried would claim to have no more than $100,000 to his name.)

The blitheness is the point. It is a total power move to talk about getting “$5bn in equity in an hour” the same way we mere mortals talk about Venmo-ing a friend $15 for lunch. The texts make it clear that these men are fundamentally alienated from the rest of the world by their wealth. “In one sense, the texts show that billionaires are just like us—they’re not doing advanced calculus; they’re in their DMs talking smack, making jokes, and trying desperately to get their way,” Lauren Pringle, the editor in chief of The Chancery Daily, told me recently. But she added: “These are absolutely not normal people with a normal understanding of the world.”

There is an undeniable hubris on display in Exhibit H. One could argue that a reason these men appear so nonchalant about offering no-strings-attached billions is that they’ve been conditioned by years of low interest rates and a booming tech sector to assume that their fortunes will only ever grow, regardless of the business decisions they make. The men in Musk’s phone also appear wildly confident in their own abilities and those of their peers. Mathias Döpfner, the CEO of the media conglomerate Axel Springer, infamously texted Musk his bullet-pointed plan for Twitter, which began with the line item “1.),, Solve Free Speech.”

Exhibit H also shows what happens when somebody with actual expertise questions the visionaries. The entire document is a demonstration of elite-level brownnosing, with the exception of one man: then-Twitter CEO Parag Agrawal. The two seem to hit it off—Musk likes that Agrawal is an engineer who can “do hardcore programming”—but then Agrawal sends Musk a text about his unhinged tweets. “You are free to tweet ‘is Twitter dying’ or anything else about Twitter - but it’s my responsibility to tell you that it’s not helping me make Twitter better in the current context,” he says to Musk. This small suggestion appears to enrage Musk and, it seems, alters the entire history of the company forever. “What did you get done this week?” Musk shoots back. And then, less than one minute later, the billionaire writes, “I’m not joining the board. This is a waste of time. Will make an offer to take Twitter private.”

Exhibit H isn’t just revealing—the existence of the document itself may have also hastened Musk’s purchase of the company. The texts exist for us to see because Musk, in a fit of buyer’s remorse, tried to back out of the deal, and Twitter sued. Although it’s unclear exactly what triggered Musk to settle the suit and continue with the Twitter purchase (he didn’t respond to a request for comment), one popular theory is that Exhibit H may have forced his hand. “I won’t speculate on his motivations, because he’s such an enigma,” Pringle said, “but it seems likely that some of these people in Musk’s phone reached out to him saying, ‘Come on, man, this is embarrassing. Make this stop.’”

Exhibit H didn’t have to be public at all. According to The Chancery Daily’s reporting, it was initially filed under seal with no objection from Twitter’s legal team. But Musk’s team unexpectedly asked for the document to be unsealed. A leading theory is that this was a tactic from Musk’s lawyers to tie opposing counsel up in busy work. If that was the case, the move clearly backfired—yet another act, born out of hubris, that went awry.

It is not difficult to look at these texts and understand how someone like Musk could now find himself in his current, unenviable economic situation and growing ever more reactionary.

Reading through Exhibit H, it’s also easy to see how Bankman-Fried accumulated venture money with hardly any investigation into his company’s finances. In one overlooked text message, one of Musk’s friends, the former Hollywood agent Michael Kives, casually suggests, “It could be cool to [do the Twitter deal] with Sam Bankman-Fried.” Subsequent reporting showed that Kives had taken a $300 million loan from Bankman-Fried’s hedge fund, Alameda Research. You can just imagine the contents of SBF’s own phone and the fawning conversations between the former billionaire and the men looking to stay in his orbit. And it’s also quite easy, reading these text messages, to understand why venture funds are facing tough questions from investors and the public about their decisions to loan money to questionable businesses without doing due diligence.

These are, of course, lessons built off of extrapolation and hindsight. But they are important ones: They teach us what happens when a small group of people with too much money come to view that money not just as a reward for success, but as its own form of merit—a specious achievement that totally alienates them from reality.

Ultimately, Exhibit H documents the loneliness and isolation of being the world’s richest man. As told via the texts, the seed of Musk’s Twitter purchase was planted by sycophants deferential to the billionaire who will never give him hard, truthful advice, because they wish to stay close to him. Indeed, the one time he receives actual, honest feedback from Agrawal, Musk behaves aggressively and impulsively, sealing his fate.

Sifting through the desiccated wreckage of Twitter is raising endless questions about the fate of the platform and what it means for us all. But one question we don’t need to ask is how we got here. For that, we have Exhibit H.

Spoiler tags make Jesus Christ smile.

Walls of text make him cry esp when he is browsing on his mobike

[Guy Smiley]

Behind a paywall.

Spoiler

Show

As the year comes to a close, I cannot stop thinking about … a court document. Plaintiffs in Twitter, Inc. v. Elon R. Musk et al. filed Exhibit H just before sunrise on September 29 in Delaware’s Court of Chancery. If you’ve seen excerpts, you probably know it by its street name: Elon Musk’s texts.

Exhibit H is remarkable insomuch as it is a spreadsheet containing the private messages between the (then) richest man in the world and his friends, associates, and hangers-on while they discuss buying one of the world’s most influential communications platforms—just for kicks. Leafing through Exhibit H, you will feel like you should never have seen these communications, and yet there they are, on display for the hordes of the internet, courtesy of the legal system.

I wrote about the texts back in September, arguing that they demonstrated “just how unimpressive, unimaginative, and sycophantic the powerful men in Musk’s contacts appear to be.” I still believe that. But now, armed with three months of hindsight, I’ve begun to think of Exhibit H as a skeleton key for the final, halcyon days of the tech boom—unlocking an understanding of the cultural brain worms and low-interest-rate hubris that defined the industry in 2022. What we see in Exhibit H is only a tiny snapshot of a very important inbox, but it’s enough to make this one of the most revealing documents in a year that’s been absolutely overflowing with tech disclosures—from Peiter Zatko’s leaks, to FTX’s balance sheet, to the “Twitter Files” championed by Musk himself.

Beyond the obvious tabloid intrigue, what’s most striking is how Musk’s texts shed light on two of 2022’s biggest tech meltdowns. If you came out of a lengthy coma in mid-December, puzzled by headlines about collapsing crypto exchanges and once-beloved entrepreneurs behaving like villains, you could read a copy of Exhibit H and understand everything with surprising clarity. The texts are, of course, a guide to the events that ultimately led Musk to purchase Twitter—a decision that has tanked his net worth, saddled his new asset with debt, and led to the quick erosion of his reputation as a savvy businessman. But also lurking in Musk’s inbox is Sam Bankman-Fried, the founder of the now-collapsed crypto exchange FTX, who was arrested in the Bahamas when federal prosecutors charged him with defrauding investors and customers.

For better or worse, Musk’s Twitter takeover and SBF’s downfall are two of the most symbolically resonant tech stories of 2022. You could view them as reckonings for supposed tech visionaries and the ways in which Silicon Valley’s hype machine dashes against the rocks of reality. It’s unfair to suggest that a few personalities are behind all of tech’s troubles—which this year included layoffs at companies such as Meta and Snap and a general feeling that we may be approaching the end of the social-media era—but the Musk texts demonstrate a decadence, an unearned confidence, and a boy’s-club mentality that coincide with the cultural disillusionment regarding the genius-innovator narrative.

In June, I snarkily coined the Elon Musk School of Management to describe the petulant way that some tech founders, such as Musk and Coinbase’s Brian Armstrong, seemed to use confrontational, culture-warring, Twitter-addled thought leadership as a business tactic. The Musk School revolves around two principles: running a company in an authoritarian manner, and ensuring that every management decision is optimized to make news and hijack the attention of those following along on social media. One can see this exact mentality at work in the Musk texts. In message after message, contacts urge Musk to take control of Twitter and solve its problems as only he can. This trend extends beyond Twitter: This year, Musk’s peers at companies such as Meta cracked down on employees, hoping to usher in a more authoritarian brand of management after years of free lunches, competitive perks, and remote work.

The Musk messages also reveal how some of the richest and most powerful men in the world treat actual billions of dollars with a level of care more appropriate for a 3-year-old tossing around Monopoly cash. Oracle’s founder, Larry Ellison, essentially writes Musk a blank check over text, pledging, “A billion … or whatever you recommend.” The venture capitalist Marc Andreessen unsolicitedly offers Musk “$250M with no additional work required.” And Michael Grimes, a top investment banker at Morgan Stanley, proposes a meeting with Bankman-Fried as a way to “get us $5bn equity in an hour.”

“Does Sam actually have $3bn liquid?” Musk asks. (It’s unclear why he got the number wrong.) Grimes says that he believes so. Musk appears nonplussed but willing to do whatever is necessary to get some quick cash: “So long as I don’t have to have a laborious blockchain debate,” he quips. (Seven months after this exchange, Bankman-Fried would claim to have no more than $100,000 to his name.)

The blitheness is the point. It is a total power move to talk about getting “$5bn in equity in an hour” the same way we mere mortals talk about Venmo-ing a friend $15 for lunch. The texts make it clear that these men are fundamentally alienated from the rest of the world by their wealth. “In one sense, the texts show that billionaires are just like us—they’re not doing advanced calculus; they’re in their DMs talking smack, making jokes, and trying desperately to get their way,” Lauren Pringle, the editor in chief of The Chancery Daily, told me recently. But she added: “These are absolutely not normal people with a normal understanding of the world.”

There is an undeniable hubris on display in Exhibit H. One could argue that a reason these men appear so nonchalant about offering no-strings-attached billions is that they’ve been conditioned by years of low interest rates and a booming tech sector to assume that their fortunes will only ever grow, regardless of the business decisions they make. The men in Musk’s phone also appear wildly confident in their own abilities and those of their peers. Mathias Döpfner, the CEO of the media conglomerate Axel Springer, infamously texted Musk his bullet-pointed plan for Twitter, which began with the line item “1.),, Solve Free Speech.”

Exhibit H also shows what happens when somebody with actual expertise questions the visionaries. The entire document is a demonstration of elite-level brownnosing, with the exception of one man: then-Twitter CEO Parag Agrawal. The two seem to hit it off—Musk likes that Agrawal is an engineer who can “do hardcore programming”—but then Agrawal sends Musk a text about his unhinged tweets. “You are free to tweet ‘is Twitter dying’ or anything else about Twitter - but it’s my responsibility to tell you that it’s not helping me make Twitter better in the current context,” he says to Musk. This small suggestion appears to enrage Musk and, it seems, alters the entire history of the company forever. “What did you get done this week?” Musk shoots back. And then, less than one minute later, the billionaire writes, “I’m not joining the board. This is a waste of time. Will make an offer to take Twitter private.”

Exhibit H isn’t just revealing—the existence of the document itself may have also hastened Musk’s purchase of the company. The texts exist for us to see because Musk, in a fit of buyer’s remorse, tried to back out of the deal, and Twitter sued. Although it’s unclear exactly what triggered Musk to settle the suit and continue with the Twitter purchase (he didn’t respond to a request for comment), one popular theory is that Exhibit H may have forced his hand. “I won’t speculate on his motivations, because he’s such an enigma,” Pringle said, “but it seems likely that some of these people in Musk’s phone reached out to him saying, ‘Come on, man, this is embarrassing. Make this stop.’”

Exhibit H didn’t have to be public at all. According to The Chancery Daily’s reporting, it was initially filed under seal with no objection from Twitter’s legal team. But Musk’s team unexpectedly asked for the document to be unsealed. A leading theory is that this was a tactic from Musk’s lawyers to tie opposing counsel up in busy work. If that was the case, the move clearly backfired—yet another act, born out of hubris, that went awry.

It is not difficult to look at these texts and understand how someone like Musk could now find himself in his current, unenviable economic situation and growing ever more reactionary.

Reading through Exhibit H, it’s also easy to see how Bankman-Fried accumulated venture money with hardly any investigation into his company’s finances. In one overlooked text message, one of Musk’s friends, the former Hollywood agent Michael Kives, casually suggests, “It could be cool to [do the Twitter deal] with Sam Bankman-Fried.” Subsequent reporting showed that Kives had taken a $300 million loan from Bankman-Fried’s hedge fund, Alameda Research. You can just imagine the contents of SBF’s own phone and the fawning conversations between the former billionaire and the men looking to stay in his orbit. And it’s also quite easy, reading these text messages, to understand why venture funds are facing tough questions from investors and the public about their decisions to loan money to questionable businesses without doing due diligence.

These are, of course, lessons built off of extrapolation and hindsight. But they are important ones: They teach us what happens when a small group of people with too much money come to view that money not just as a reward for success, but as its own form of merit—a specious achievement that totally alienates them from reality.

Ultimately, Exhibit H documents the loneliness and isolation of being the world’s richest man. As told via the texts, the seed of Musk’s Twitter purchase was planted by sycophants deferential to the billionaire who will never give him hard, truthful advice, because they wish to stay close to him. Indeed, the one time he receives actual, honest feedback from Agrawal, Musk behaves aggressively and impulsively, sealing his fate.

Sifting through the desiccated wreckage of Twitter is raising endless questions about the fate of the platform and what it means for us all. But one question we don’t need to ask is how we got here. For that, we have Exhibit H.

Spoiler tags make Jesus Christ smile.

Walls of text make him cry esp when he is browsing on his mobike

Best keep your eyes on the road while riding your mobike.

[Ymx]

Tesla made no sense: a company whose share value seemed inversely proportional to the losses it made. What did it lose in 2021? $5bn?

What presence it had was all built on hot air (ahem) i.e. selling over priced milk floats to idiots with deep pockets and even deeper snob values.

As an aside, I still think the electric route is a mistake that will either fail or become a short route, small carriage niche (like mopeds are).

Isn’t it hitting profit in 22?

Where are the latest financials?

The full accounts show it to have made a net profit of $5.5Bill in 2021, and EBIT of 6.5 I believe.

https://www.sec.gov/Archives/edgar/data ... 220930.htm

[tabascoboy]

This. Took a lot of tweaking to get it back how I had before

[Guy Smiley]

https://www.rnz.co.nz/news/world/482274 ... rld-record

Elon Musk has broken the world record for the largest loss of personal fortune in history.

From November 2021 to December 2022 he lost around $US165 billion ($NZ259b), Guinness World Records said in a blog on its website.

The figures are based on data from publisher Forbes, but Guinness said other sources suggested Musk's losses could have been higher.

It follows a fall in value of shares in Musk's electric car firm Tesla after he bought Twitter last year.

His $US44b takeover of the social media company has sparked concerns among investors that Musk is no longer giving Tesla enough attention.

Musk's losses since November 2021 could surpass the previous record of $58.6b, suffered by Japanese tech investor Masayoshi Son in 2000.

The estimated loss is based on the value of his shares, which could regain their value, meaning Musk's wealth would increase again.

In December, the Tesla boss lost his position as richest person in the world to Bernard Arnault, the chief executive of French luxury goods company LVMH, which owns fashion label Louis Vuitton.

The value of Tesla shares dropped around 65 percent in 2022, in part because of Tesla's performance. The firm delivered just 1.3 million vehicles during the year, falling short of Wall Street expectations.

However, Musk's takeover of Twitter - where he has sparked controversy by firing large numbers of staff and changing content moderation policies - is behind most of the share slump.

Many Tesla investors believe he should be focusing on the electric vehicle company as it faces falling demand amid recession fears, rising competition and Covid-linked production challenges.

"Long-term fundamentals [at Tesla] are extremely strong. Short-term market madness is unpredictable," Musk tweeted after the stock markets closed for the year in December 2022.

Musk is now worth about $178b, according to Forbes, while Arnault has an estimated value of $188b.

[fishfoodie]

Branson used to tell the joke, about being asked how to become a multi-millionaire, & he'd say; "well first become a billionaire, & then buy an airline !"

Musks losses over this ego trip puts all those previous pieces of egotistical stupidity into the shade.

[fishfoodie]

Twatter hasn't crashed yet.
Any chance we're hysterical ninnys and the Musk is going to brazen it out?

It's not at all clear if the current outage for 3rd Party apps is because of a failure in the app, or another fit of pique by Musk

Numerous third-party Twitter clients stopped working on Thursday evening, Pacific Time, and as of Friday morning, they remained non-functional.

It's not clear why this occurred. The developers of apps like Twitterrific, Tweetbot, Echofon, and other third-party apps for interacting with Twitter have been unable to learn more from the company, now depopulated by staff cuts and stripped of its communications team.

"There’s been no official word from Twitter about what’s going on, but that’s unsurprising since the new owner eliminated the employees dedicated to keeping the API up and running smoothly, including the developer evangelists who previously provided communication with third-parties," lamented a post on the blog of Iconfactory, maker of Twitterrific.

"We wouldn’t know whom to reach out to at Twitter even if such people existed. We’re in the dark just as much as you are, sadly."

https://www.theregister.com/2023/01/14/ ... p_working/

[Biffer]

The API not working will screw the content creators on twitter, most of the used a third party app.

[fishfoodie]

No warning No Explanation, & not even a formal confirmation of what he's done.


WHAT A CUNT !

The chicken shit hasn't even pulled it from all 3rd party clients; he's targetted a few of the biggest.

[_Os_]

Restricting access to the API, if that's what has happened, looks like the worst business move he's pulled.

There's other industries that have a big customer facing third party component. The financial industry (tax consultants, accountants), lawyers, auto industry (unofficial accessories), the gaming industry (unofficial add ons, youtubers playing games) ... all come to mind. The general theme I've seen is when the owner tries to make everything proprietary, the product gets worse and less attractive. In these situations the logic from the owner is always "these people are making pennies off my product, they are taking my money!", and not "these people need what I own to have a business, they're helping to build what I own". Not easy to turn this on and off like a switch either, after people have already been burned creating a third party business around a product that was suddenly walled off. They'll still have those skills and may start another third party business around a similar but different product.

There's an example in rugby I can think of. The Sharks used to have a comment section on their site, then closed it because it was too much hassle. A blog "Sharks World" was made by a fan, for Sharks fans to comment on rugby related events, the owner of the blog said he felt the Sharks CEO at the time (Straeuli) was hostile towards him and viewed him as someone making money from IP he did not own. There was little support from the Sharks for the fan made community, the site couldn't have made much and closed down. End result less fan engagement with the Sharks.

[fishfoodie]

Well it's finally happened.

Twitter has been hit by a major bug that means users are unable to leave to other websites or see images.

It is just the latest technical issue to hit Twitter, which conducted yet another round of layoffs in recent weeks – and saw another outage very shortly afterwards.

This time around, the site stayed up but users who clicked on links were instead shown a long error message indicating that there is a problem with Twitter’s API, the system that is used to communicate with other services.

It means that links shared on the site cannot be followed at all. Links also showed up as blank blocks of colour.

Tweetdeck, the company’s more specialised service for following tweets, also appeared to be broken as a result of the same problems. Users saw the app go entirely blank at the same time the links broke.

https://www.independent.co.uk/tech/twit ... 95166.html

[Biffer]

So this thing about an employee being fired over twitter. The employee was a founder of a company twitter bought, so the acquisition contract will have had guarantees in it. And the fella is in Iceland, so European employment law comes to bear.

This is going to cost him tens of millions.

[Uncle fester]

So this thing about an employee being fired over twitter. The employee was a founder of a company twitter bought, so the acquisition contract will have had guarantees in it. And the fella is in Iceland, so European employment law comes to bear.

This is going to cost him tens of millions.

What a thundering wanker.
https://www.bbc.com/news/technology-64871183

[Kiwias]

The Musk is doing a bit of rapid backsliding here.

[Gumboot]

Using his wealth and power to bully anyone he wants. What a superhero. I wonder if the Homelander character was modeled on him, or if it was the other way round.

[robmatic]

The Musk is doing a bit of rapid backsliding here.

Someone has had a phone call from the lawyers.

Note that Halli has gone from being 'fired' due to 'not doing any work' to still having a job if he graciously wants to accept one.

[PCPhil]

The Musk is doing a bit of rapid backsliding here.

Someone has had a phone call from the lawyers.

Note that Halli has gone from being 'fired' due to 'not doing any work' to still having a job if he graciously wants to accept one.

Worse thing is that in the land of the free and justice for all he would win if it went to court. How the hell did he get away with calling someone a paedo and broadcasting that to millions?

[Biffer]

The Musk is doing a bit of rapid backsliding here.

Someone has had a phone call from the lawyers.

Note that Halli has gone from being 'fired' due to 'not doing any work' to still having a job if he graciously wants to accept one.

Worse thing is that in the land of the free and justice for all he would win if it went to court. How the hell did he get away with calling someone a paedo and broadcasting that to millions?

However, the guy lives and works in Iceland. So if there's an employment law case, it'll be under EU law - one reason why his lawyers will have told him to backtrack.

[Rhubarb & Custard]

It's like he's gone from Cocaine Bear to Chai Latte Lemming

[Guy Smiley]

[Insane_Homer]

Twitter bought Halli's company a while back, his employment was tied to the deal. If they fired him, he was due a huge payout.
they confirm he had been fired.
now Musk is trying the massive U-turn since he found out how much it would cost him and now basically begging him to stay on in another fumbling PR blunder.

[mat the expat]

Twitter bought Halli's company a while back, his employment was tied to the deal. If they fired him, he was due a huge payout.
they confirm he had been fired.
now Musk is trying the massive U-turn since he found out how much it would cost him and now basically begging him to stay on in another fumbling PR blunder.

The Schadenfreude is so strong at present.

The Icelandic version must be truly epic in length

[PornDog]

So Some senior engineer guy quits for reasons, but I found this particular quote rather entertaining -

However, Mr Dabiri said: "Working with @elonmusk has been highly educational, and it was enlightening to see how his principles and vision are shaping the future of this company."

I mean talk about a statement open to interpretation.

https://www.bbc.com/news/business-65717731

[tabascoboy]

[Insane_Homer]

Twitter bought Halli's company a while back, his employment was tied to the deal. If they fired him, he was due a huge payout.
they confirm he had been fired.
now Musk is trying the massive U-turn since he found out how much it would cost him and now basically begging him to stay on in another fumbling PR blunder.

The Schadenfreude is so strong at present.

The Icelandic version must be truly epic in length

[C69]

The dig about the emerald mine is great

It's more than great, it's a gem.