• Chozo@kbin.social
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        1 year ago

        Anything is worth whatever somebody is willing to pay for it.

        This dumb bastard just happened to be willing to pay $44 billion.

        • CileTheSane@kbin.social
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          1 year ago

          Actually, Musk didn’t want to pay anything for Twitter, but was willing to pay $44 billion to avoid the discovery process.

          • flipht@kbin.social
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            1 year ago

            Excellent point, lest anyone forget that he was really just running his mouth and got too far in before the mania dropped.

          • MidwestMayonaiseSalad@lemmy.world
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            1 year ago

            I don’t think it was even that. He was so 100% going to lose the fight to not buy Twitter that even for someone with his resources it wasn’t worth fighting. He made a weak attempt to embarrass Twitter into backing out due to public opinion, but didn’t really have any options after that. He just fucked up that magnificently with the initial contract.

        • Pons_Aelius@kbin.social
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          1 year ago

          True but It is like a reverse Schrödinger valuation.

          When EM offered 44B, that was twitter’s value until the transaction was complete.

          Now it is only worth what someone else will pay for it…

      • TWeaK@lemm.ee
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        1 year ago

        Musk didn’t pay $44bn. He paid $26bn, then $5bn was from other investors and the remaining $13bn was a loan Twitter took out to buy itself on Musk’s behalf.

        Yay, leveraged buyouts! They totally aren’t used to avoid tax and kill businesses!