this post was submitted on 17 Apr 2024
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So much for free speech on X; Musk confirms new users must soon pay to post (arstechnica.com)
submitted 8 months ago by jeffw@lemmy.world to c/technology@lemmy.world
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[–] TWeaK@lemm.ee 16 points 8 months ago

The purchase itself was a leveraged buyout, they didn't pay the entire $44bn as Twitter took out a loan to cover $13bn. Like all leveraged buyouts (eg Toys R Us) the purchase itself is meant to kill the business. Even before Musk started screwing the revenue there was little hope Twitter could pay the interest, let along the principle. Now, Twitter is worth less than the debt, by some estimates.