this post was submitted on 31 Aug 2023
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Raise your hand if you are convinced this will not impact the people who pay for the blue checkmark. Meaning that a lot of Elon Fanbois / Bots / Fascists will be seen with theit shitty takes (since the checkmark pushes your comments up), while voices of reason will be dragged down further.
Twitter is rapidly becomming the new Truth Social and it's sad to watch.
Well that was the whole point. His old friend Peter Thiel and others failed to set up a competing service against Twitter, so now they're undermining Twitter. Either Twitter steps into line and becomes what they want it to be, or it dies due to the $13bn debt/tax avoidance scam that Musk performed.
Since I don't follow Musk, please elaborate. I hope, you don't mean his buying an unprofitable company for $40B was to avoid taxes...
Overpaying and then destroying the value means that eventually, he will be able to claim losses on his taxes. This will allow him to reduce his tax liability for his profitable businesses.
Sure but it doesn't make sense to destroy more capital than you're liable in taxes.
No. I'm referring to the $13bn out of the $44bn purchase price that Twitter paid itself. As Twitter is now deep in debt, it won't be making a profit any time soon, so there will be no tax paid on that $13bn purchase.
The $44bn purchase is broken down more or less as:
The process is known as a leveraged buyout, and it's what's killed many staple businesses that were otherwise perfectly viable, eg Toys R Us.
Dear Elon,
You say you hate socialism yet you socialized around 40% of the acquisition money.
Curious.
That was always the point of the blue check under Elon. It’s very clear already that blue checks have vastly higher reach and engagement. This all started back in December.
https://www.theverge.com/2022/12/23/23523845/twitter-blue-paying-priority-replies-conversations
It ruined so much of the appeal. Previously when someone was being a fucking idiot you could see them getting absolutely dragged in the comments, and it was cathartic. Now it's just blue check sycophants going "omg based".