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chapotraphouse @hexbear.net

FuckyWucky [none/use name] @hexbear.net

1y ago

Value of "X" has fallen 71% since purchase by Musk and name change from Twitter

www.theguardian.com Value of X has fallen 71% since purchase by Musk and name change from Twitter

Mutual fund Fidelity, which owns stake in social media platform, marks down value of its shares in disclosure obtained by Axios

Value of X has fallen 71% since purchase by Musk and name change from Twitter

Find the value of X.

The number of monthly users of X dropped by 15% in the first year since Musk’s takeover amid concerns over a rise in hate speech on the platform.

It really is slowly dying.

Technology @beehaw.org

Chris Remington @beehaw.org

1y ago

Value of X has fallen 71% since purchase by Musk and name change from Twitter

www.theguardian.com /technology/2024/jan/02/x-twitter-stock-falls-elon-musk

Value of X has fallen 71% since purchase by Musk and name change from Twitter

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News @lemmy.world

MicroWave @lemmy.world

1y ago

Value of X has fallen 71% since purchase by Musk and name change from Twitter

www.theguardian.com /technology/2024/jan/02/x-twitter-stock-falls-elon-musk

Value of X has fallen 71% since purchase by Musk and name change from Twitter

506 75

40 comments

I'm still absolutely stunned that this fucking dickhead went and torpedoed one of the most valuable assets: the Twitter brand
- I'm more stunned that they let him get away with it. Mind blowing that multiple major governments and major corporations use twitter as their primary communication/propaganda tool and Musk was just allowed to tank it like this. This is some real Hapsburg shit.
  
  He also allows a bunch of the west’s enemies onto twitter so he’s making the propaganda war a lot more difficult for literally no reason other than contrarianism. Also, the unmoderated check marks
  
  I still can't get over the fact that governments use Twitter as a primary method of communication and information distribution during a disaster. The first that comes to mind is the RCMP using it instead of the actual emergency alert system to warn people about the 2020 Nova Scotia shooting spree. They could have prevented multiple murders had they warned people to stay inside, but they only announced the active shooter on their twitter which only had something like 5% of the province following it
  
  Run away liberalism on display
  "We value his rights as a property owner! 🤓"
  "It would be more wrong of us to force companies to comply with national interests rather than nations complying with corporate interests! 🤓"
  "Surely multinational corporations are loyal to their nations of origin and wouldn't sell out immediately for even a slight promise of profit! 🤓"
  Just further proof that the US is not a country or nation really. Just a collection of corporations fighting each other for the drying up crumbs. Such a weak and ineffective state apparatus that it can't even begin to imagine the thought of seizing assets like Twitter even under the guise of (somewhat) legitimate "national interests." Or just creating a direct exact-copy of Twitter run and funded by some government agency. Which under US gov control, don't get me wrong, would still suck. They'd cut corners and also self-cuck by allowing Nazis on and shit.
  Probably the best they could do is forcefully seize it from Musk (I'd say pay him nothing and if he whines start the process to undo his naturalization but hey I'm a petty asshole to other assholes) and put it into some sort of privately run, state regulated, state funded department which isn't beholden to any stupid shit like legal obligations to let Nazis speak but also has a proper verification system (kinda like the old one, but better. maybe yoink the marker if someone is inactive for long periods or changes careers). Basically recreate Twitter, but a semi-nationalized version of it. The same should happen to Facebook and probably honestly reddit at this point.
  All these social media sites have blown up and become far more than places to post your lunch and anonymously tweet that you hate your husband. Regulations were never in place to prevent all this centralization (and realistically, won't be in place. None of what I typed is likely to ever happen, very sadly)
  
  i mean it doesn't provide a service so much as maintain a monopoly on official communications. i'm sure all these institutions were much happier when they could just send out a press release and journalists would report on it
- Let me give you some perspective here: imagine you just drove your company into the ground (Tesla) and was on the brink of going bankrupt, the Federal Government of the United States literally stepped in and not only saved your company, but also turned it one of the best performing company on the stock market, beating all other major automobile manufacturers who make real cars.
  What do you think is the lesson you will learn here? You will think you are God. The world bends to your wants and needs. You can do no wrong. The most powerful government of the world will always have your back. Twitter is just a little trolling space for you, and you literally don’t care if it sinks. It’s one of those toys you get bored of eventually.
- just going to "x" out my thoughts on this

math class wants me to solve for X, and now the value of X changes?!
- Solve for x, but it's a differential equation
  
  d(y)/d(xcom) = - log(xcom)

Anyone who unironically refers to twitter as x deserves an ass kicking

15%
sad, should've been more given that the site is completely unusable at this point, but I guess there isn't really an established replacement yet. Honestly the only thing keeping Twitter afloat at this point is just the lack of replacements for that type of social media since the site itself has been made completely unusable.
- What we're not seeing is granular data on their userbase, not that we ever will, but I'd venture a guess that it's much more damning than that 15% represents.
  To illustrate my point, take my experience with the Reddit API changes. This was the absolute last straw for that shithole for me.
  I still have an account on Reddit. I still dip into a couple of very niche subs to check on them and to provide info to people where I can, but almost exclusively through DMs. Sometimes articles redirect me to a Reddit source. Fairly commonly, search results for things like tech fixes direct me to Reddit.
  I'm still a Reddit user (🤢🤮)
  I would still be represented in their monthly user stats.
  Even if I deleted my account, I would still visit Reddit at least once a month (this is even more applicable to how closely connected the news media and Twitter are.)
  Do I comment on Reddit anymore? Nah.
  Do I upvote or downvote things on Reddit? Very rarely.
  Do I spend any significant amount of time browsing Reddit these days? Nope.
  Have I switched from being an active contributor on Reddit, which is probably like 10% of their total active userbase, to being almost entirely passive? Yep.
  Idk (because I don't care about Twitter beyond enjoying watching it implode and the anticipation of this potentially taking Elon with it) but I have a hunch that they've had a huge decline in their active contributors and especially those who made Twitter a valuable social media site (in the sense that you're always going to get trolls, bots, marketers and those really vapid chain response tweets as a form of low-value content but there's a certain amount of active contributors who create something of value which attracts other users - and those are the really important users. If that cohort of people shift from high-value contributions to passive consumption or occasionally dipping in only to answer DMs or because of a link redirecting them to Twitter then the site is moribund.)
  
  I've killed all my gimmick accounts and shit even. When I see a tweet I hate too much to ignore I just make a whole new account and start trying to rip off the face of everyone on there who annoyed me in the last 12 hours
  I really hope I'm doing my part to drive away the last remaining profitable users.
  
  Yeah true, I’d probably technically be a Twitter user even though I never use the site. I do still have an account over there to look at something every now and then. I don’t interact with anyone though
- Masterdon is a thing. I don’t use it either, but it’s there alright.
  
  yeah Mastodon seems to be the best one. There's a fair amount of activity there it seems, but it still feels sort of niche, and doesn't seem to have caught on yet as the alternative. I'd use it, but I never really used twitter in the first place so I don't really have any need for Mastodon.
  
  Yogthos and many wildlife photographers are on there. What more could we ever need?
  https://mas.to/@yogthos.rss
- I feel like that number is obfuscating that a lot of bots have flooded the platform. The number of actual users likely dropped far more.

hurry the fuck up god damn

Should've given Twitter to Grimes.
- Then it could have been renamed to "Ex"
  
  Death to America
- Sure, but that'd almost definitely be a trojan horse for Peter Thiel and his League of Impossible Ideologies (aka troll armies). Instead of obviously brainless bots and equally stupid Tech influencers, we'd have explicitly tailored social engineering ops. Think more "anarchist hacker catgirl" types who go viral just to stage a total breakdown and blow up your scene w insipid drama. Worst of all, they'd mostly be friends of Grimes. As if discourse wasn't already rigged enough.
  
  okay so what would the bad part be

that's still worth a lot more than i thought

like all these social media companies, the value was largely imaginary. i doubt its profits have dropped nearly as much.
- I wouldn't be surprised either way. They've had a lot of major advertisers pull ads.
  
  Have they? I have screenshots of YouTube, Sega and Nasdaq ads running next to white nationalist and transphobic content
- profits
  They have never had a month of positive cashflow
- they in shit ton of debt post acquisition though. yes the valuation is vibes based but still Twitter is objectively worse off than before.

I'm proud of him on his path in becoming a millionaire

He is just going to change it back eventually to get everybody’s attention

40 comments