re: Elon Musk to advertisers pulling ads...epic

quote:

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Twitter’s value has plummeted by almost two-thirds since Elon Musk acquired the company in October 2022, one of the social media company’s only remaining external investors has admitted.

Fidelity, an asset manager that held a stake in Twitter worth about $20m after Musk acquired the business for $44bn, said in a corporate filing that its stake was now worth just under $6.6m. That would value the overall company, now officially called X Holdings Corp after Musk’s early venture X.com, at just $14.75bn.

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Not a defense, but isn't this a bit misleading. As I recall, the accepted valuation of Twitter was significantly lower than the $44b he paid, and was likely part of the reason he tried to get out of the deal before it closed.

So it would be inaccurate to say he's responsible for all of that devaluation, and a real analysis would rather much more effort than the quote provides, factoring in such things as overall losses in tech valuations and so forth.

In a nutshell, there's a difference between overpaying and destruction of value from management decisions. Similar to overpaying for a house vs letting goats poop inside of it afterwards.