this post was submitted on 10 Jan 2024
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Why do you keep calling my comments "devil advocacy"? I'm not making theoretical arguments for the sake of debate. I'm saying that in real, actual numbers, Twitter was not worth $44 billion. That figure was purely invented by musk to show off. That he had to pay out is just karmic justice, not the objective valuation of Twitter.
And I'm not saying whoever put up that money isn't losing tremendously, either. They definitely have, and that's my point. Whether it was musk or someone he went begging to, it was an equally dumb decision since, again, Twitter wasn't worth that much.
Also, since you seen like you may know, afaik the "71% drop" is purely from one investment company, Fidelity, right? Are they a reliable authority in this? The only other time I've heard of them was during the Reddit drama last summer, so to me they mostly come off as latching onto Internet drama rather than providing sound investment advice. Do they have a good track record to earn this level of credit the news is giving them?
If I sell someone a banana for $20, that banana is worth $20. Someone else may disagree with the value but that does not change the fact that in that moment the banana was valued at $20.
It means the person that bought it is a fool, nothing more.
You lack the information or understanding as to why it was given that value. You are the fool.
Feel free to prove me wrong with concrete numbers that back up your assertion with the true value.
I am confident you are not an investment analyst.
I'm the fool for saying a banana isn't worth $20? That's a weird line to draw. And I never claimed to be anyone here. I'm just pointing things out. Like this - musk literally had 4.20 in the cost "for the lulz". Nobody's convincing me that man had any idea of the "true" value of Twitter when he proposed his bid.
The banana is an example.
Your inability to understand how a banana could actually be worth $20 further illustrates my argument that you do not understand economics.
Your example had zero context. I'm supposed to just infer all the meaning for you? Come on now. If you don't wanna put in the effort, just don't bother in the first place. Don't blame other people for your actions.