Technology

59589 readers

2838 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

241

Fidelity marks down X valuation by 71.5% (techcrunch.com)

submitted 10 months ago by L4s@lemmy.world to c/technology@lemmy.world

16 comments fedilink hide all child comments

Fidelity marks down X valuation by 71.5%::Asset manager Fidelity has marked down its investment in Musk-owned X by 71.5% from the original valuation of shares.

you are viewing a single comment's thread
view the rest of the comments

[–] TropicalDingdong@lemmy.world 33 points 10 months ago (2 children)

I mean this is just ridiculous. He bough twitter for twice what it was actually worth fmv. He's since gutted it infrastructural and culturally.

If it went public today under his leadership, there is no way it would be worth even 5% of its prior value.

[–] gravitas_deficiency@sh.itjust.works 23 points 10 months ago (2 children)

He bought it with the specific intent of using it to measurably impact the election we’re having in 10 months.

[–] KingThrillgore@lemmy.ml 12 points 10 months ago* (last edited 10 months ago) (1 children)

And for 44 billion, so he basically got screwed out of a small fortune to ruin it for someone else. It would have been cheaper and as effective to distort the election to keep running it the way it was.

[–] noodlejetski@lemm.ee 8 points 10 months ago

"small"

[–] TropicalDingdong@lemmy.world 2 points 10 months ago

I know this and have repeated it elsewhere. In this particular sense, it does have the value he paid.

[–] BearOfaTime@lemm.ee 5 points 10 months ago

Yep.

By design. Which is a good thing for the rest of the world. Twitter has been a cesspool from the start.