Musk said early Saturday that cash flow at Twitter remains negative because of a nearly 50% drop in advertising revenue coupled with “heavy debt.”
Musk said early Saturday that cash flow at Twitter remains negative because of a nearly 50% drop in advertising revenue coupled with “heavy debt.”
I’m amazed people still drive and ride in Teslas after seeing how badly this guy runs a social media site.
I trust his companies when I know the engineers don’t let him have any say whatsoever.
Neuralink and spacex are interesting to watch, because how badly could he fuck them up in a way that engineers will let him? Not much.
Tesla is just on the edge of being fucked up by him, his weird yoke and insistence on capacitive buttons are very close to being too much… but the thing that made me finally decide not to ever get a tesla was his insistence on using exclusively cameras instead of cameras+radar for autopilot.
If you don’t care about self-driving, and don’t care about the yoke/capacitive buttons, teslas are fine cars.
Well, Tesla is publicly traded, makes money, and clearly their cars work because they have lower than average road fatalities. With the disparity of how badly Twitter’s being run vs Tesla I wonder how long it’s been since Elon’s actually been in charge of anything other than being a spokesperson for Tesla.
To be fair, they’ve got the killed-or-injured-by-a-software-driven-vehicle market virtually cornered.
@Catch42
@kuontom @const_void
No one really knows if Tesla makes money. It’s been long noticed that Musk is extremely dishonest and could easily be faking all of the numbers.
It’s a public company, there are legal requirements for reporting its cash flows to its shareholders. If they’re being fudged to that degree then that’s massive fraud and Musk would be in very serious legal trouble.
@FaceDeer
@kuontom @const_void @Catch42
We live in the age of fraud. It’s easy to fake those numbers. Hell, the regulations will even help you defraud investors. In fact, you should google Wirecard as an example of this, and realize that it is totally possible to happen again. Also, look at how rich Musk already is and realize he has already gotten away with it. Legal trouble just means he may retire in slightly less comfort than he would’ve anyways.
Lower fatalities is a function of the driver type, not of the car.
I don’t see how a social media site and an automobile company have much in common.
It’s quite possible that Musk is better at some things than he is at other things. Engineering and manufacturing are quite different from maintaining a large social media company, the skills don’t translate.
Another major difference is that Musk built Tesla up from a small size, so it was always structured according to his style and expectations of management, whereas he bought Twitter as an already-large company with an established corporate culture that didn’t match what he would have done. That’s the first time he’s bought such a large pre-existing company, as far as I’m aware, and he’s having huge problems “reshaping” it.
@FaceDeer
@kuontom @const_void Bullshit. He did not found Tesla. And Tesla gets many billions of dollars of subsidies, something you can’t do with Twitter. It’s easy to imagine how Musk mismanaged Tesla just as badly as Twitter now, but with the advantage of the government saving him back then. Also, with ZIRP (zero interest rate policy) by the Feds, you can borrow money at basically zero cost anytime you want. You can string along a disastrous mismanaged company for years in that scenario.
As I said:
Emphasis added. From Tesla’s Wikipedia page:
Given the current size of Tesla, being able to buy a majority share of it for a mere $6.5 million clearly makes it a very small company by comparison.
Why do any companies go broke, in that case?
@FaceDeer
@kuontom @const_void
It is still a small company. It the size of Mazda just with way more hype and more funding. It is still consistent with the idea that he stole the company and just turned it into his plaything, funded primarily with other people’s money.
Almost no companies went broke in the last decade or so. Only the most incompetent companies have really failed recently, with the occasional bank failure here and there. But that will change eventually. All frauds eventually go bust. And if Tesla is one of them, it will happen sooner or later.
Mazda is a “small company?” Ok.
Plenty of companies have been going broke in the past decade.
If Musk’s companies are small I don’t see why everyone’s so obsessed with him.
@FaceDeer
@kuontom @const_void
2023 is the beginning of the end of ZIRP. Of course starting now, a lot of companies are going bankrupt. But that hasn’t reached Tesla yet.
Also, who goes around thinking Mazda is this huge company? Sure, it is a not as small as say, a startup company, but it is still consider small.