this post was submitted on 18 Sep 2023
4 points (100.0% liked)
Technology
37723 readers
475 users here now
A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.
Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.
Subcommunities on Beehaw:
This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
He's the wealthiest man in the world. That doesn't mean he has a lair full of cash and just wants more. People really struggle to understand the difference between wealth and money in the bank. This isn't about hoarding money just for the sake of it.
I understand the difference, but he's collecting stuff just because it's shiny. He's short of cash because he has no impulse control, and I fail to see why he shouldn't fail the same way other people who overextend themselves fail.
What makes you think he's short on cash? Wealthy people don't store their wealth in cash anyways. The money is tied to the stocks of the companies they're running. That's why he needed to lend the money for twitter too; he doesn't have that kind of cash, but people are willing to borrow it to him because of his wealth.
If you just had read the article you'd see that they have lost 50% of the advertisers and are losing money. This isn't about wanting more money just for the sake of it. No company can exist if their finances are on the negative.
And yet here they are...
What are you saying?
You aren't going to tell me Musk doesn't have some cash laying around.
Is he just supposed to pay for the running of twitter out of his pocket or what? It says there they've lost 50% of advertisers, and are making negative profit. That isn't sustainable. The purchase of twitter has cost him 40-something billion, and still keeps costing him even more. It's not about just wanting more profit, but to atleast break even.
It's a self inflicted wound. Can't bring myself to care.