132
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 30 Jun 2023
132 points (97.1% liked)
Asklemmy
43401 readers
679 users here now
A loosely moderated place to ask open-ended questions
Search asklemmy ๐
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- !lemmy411@lemmy.ca: a community for finding communities
~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~
founded 5 years ago
MODERATORS
Twitter had experimented and had a fair system in place through previous trial and error. Elon thought it wasn't good enough and then ran into the wall face-first thinking he was smarter than the average guy. Spoiler: he wasn't.
Elon is a dufus. But Twitter burned about half a billion per year before being aquired. Those silicon valley companies are unprofitable zombies for decades without it's users even realizing that the service won't be free forever. They continue eating through borrowed venture capital and investment rounds (expecting returns). Having to charge a price for your service is ok, but it's harder after it was free & doing it without an explanation. It's a given that reddit is still very much unprofitable but their PR would be in a much better position if they were more transparent instead of just dictating changes & terms to their volunteers.
People overstate how bad Twitter's financial situation was prior to Elons takeover. They lost 500 million but had 5 billion in revenue. While not great with strategic cost cuts and a little investment in improving the ad platform they probably could have become profitable. Probably not enough to satisfy their investors but profitable.
Elon saddled them with so much debt and has become hostile to advertisers I doubt that they will ever be profitable now.