OV9

Ferguson based his assessment on internal second-quarter figures recently obtained by the New York Times. According to this report, X booked $114 million worth of revenue in the U.S., its largest market by far. This represented a 25% drop over the preceding three months and a 53% drop over the year-ago period.

That already sounds bad. But it gets worse. The last publicly available figures prior to Musk’s acquisition, from Q2 of 2022, had revenue at $661 million. After you account for inflation, revenue has actually collapsed by 84%, in today’s dollars.

No one knows how much longer X can survive, since the company doesn’t release financial results. But in November, Musk himself admitted X could face bankruptcy due to the advertiser boycott.

Since then all talk about reaching cash flow breakeven, let alone turning an actual profit, has ceased. In and of itself this is unusual for someone like Musk, who is comfortable announcing targets so aggressive and unrealistic that he repeatedly fails to meet them.

Simon wrote: Wed Sep 18, 2024 10:26 pm Maybe being an outspoken fascist cunt isn't the look that advertisers want on the platform? Who knew?

Gavster wrote: Thu Sep 19, 2024 7:54 am I mean, it's not rocket science and he's done alright with that.

Sundayjumper wrote: Thu Sep 19, 2024 9:10 am

Gavster wrote: Thu Sep 19, 2024 7:54 am I mean, it's not rocket science and he's done alright with that.

Very good

Beany wrote: Wed Sep 18, 2024 5:58 pm More on the whole FAFO train:

https://fortune.com/2024/08/15/elon-mus ... -ferguson/

Ferguson based his assessment on internal second-quarter figures recently obtained by the New York Times. According to this report, X booked $114 million worth of revenue in the U.S., its largest market by far. This represented a 25% drop over the preceding three months and a 53% drop over the year-ago period.

That already sounds bad. But it gets worse. The last publicly available figures prior to Musk’s acquisition, from Q2 of 2022, had revenue at $661 million. After you account for inflation, revenue has actually collapsed by 84%, in today’s dollars.

No one knows how much longer X can survive, since the company doesn’t release financial results. But in November, Musk himself admitted X could face bankruptcy due to the advertiser boycott.

Since then all talk about reaching cash flow breakeven, let alone turning an actual profit, has ceased. In and of itself this is unusual for someone like Musk, who is comfortable announcing targets so aggressive and unrealistic that he repeatedly fails to meet them.

Matty wrote: Thu Sep 19, 2024 1:43 pm Before X I lived on blissful ignorance of the level of moronity that existed.

Mito Man wrote: Thu Sep 19, 2024 1:11 pm Sometimes my twitter changes from 'following' to 'for you' and it really is full of bat shit crazy people. However I think that ironically it's even more useful for government surveillance now. Before any extremists would get banned. Now everyone has this false comfort that it's free speech and anything goes. I don't think nearly as many of those people in the UK spouting bollocks during the riots would have done so or been able to under the old regime. So Musk in saving everyone from the big government backed tech world and giving everyone a voice, no matter how extreme, has just exposed them.

Gavster wrote: Thu Sep 19, 2024 7:54 am I occasionally pop onto Twitter to see how many bots have followed me, it's usually around 65% bots to 35% real followers. It still completely bends my brain that he took the worst social media platform and made it far, far worse. I mean, it's not rocket science and he's done alright with that.