this post was submitted on 17 Nov 2023
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What’s your point about it being publicly owned anyway? That didn’t address anything in the comment you were responding to, unless you were nitpicking the use of “limited liability company.” In which case I’ll nitpick you back that it didn’t use capital letters. And even S Corporations do limit the personal liability of their owners, and are in fact companies.
You’ve behaved like a real ass here generally. Go do your homework or something.
OP was spouting a bunch of nonsense implying that Elon tanking Twitter's value somehow was going to end up with him profiting.
In the United States, publicly traded companies have responsibilities to timely and accurately report their financials. By Elon taking the company private, Twitter no longer has those fiduciary requirements.
That's why I was pointing out how stupid OP was being, and banging on so hard on the public vs private company thing. Elon has, by all accounts, lost tens of billions of dollars in this whole ordeal.
Because he's lost so much money I find it incredibly ridiculous people think this is some kind of conspiracy. Less people use it, the company is looked upon less and less favorably, and it's reputation is in tatters. If you're trying to make a platform to brainwash people into being racist the last thing you'd want is LESS people using it
Where did I say Musk was going to profit?? All I said is that he took a private (sector) business that was serving as a public forum and is running it into the ground.
You then deviated off, talking about the difference between privately traded and publicly traded businesses, as if that was some salient point I had overlooked.
Musk had to make the purchase, he was forced to, thanks to his dumbassery. I'm not saying he planned this all along, but that doesn't mean he isn't trying to make something of the loss by running it into the ground and seeing what kind of dodgy precedents he can set along the way. Such precedents pave the way for new platforms that take its place after it's gone.
Mark my words, Twitter/X is going to die. To be more specific, bankruptcy within 5 years, probably far fewer.