Why did Twitter (X)'s valuation tank 56% in one year? | TechCrunch
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The company formerly known as Twitter, X is valuing itself at $19 billion, per internal documents obtained by Fortune. When Elon Musk bought the company

Why did Twitter (X)'s valuation tank 56% in one year?::The company formerly known as Twitter, X is valuing itself at $19 billion, per internal documents obtained by Fortune. When Elon Musk bought the company

  • Salvo@aussie.zoneEnglish
    80·
    11 months ago

    Let us analyse it critically;

    • change of API policies resulted in death of third-party apps.
    • exodus of content creators due to inaccessibility of official Apps and user interfaces.
    • exodus of high-value users due to lack of high-value content.
    • exodus of medium-value users due to increase is low-value content and ads.
    • increase in toxic behaviour due to lack of moderation and encouragement of antisocial behaviour.
    • fediverse (and Reddit) attracting content creators and users with better (more insular) communities and content.
    • loss of brand equity with bizarre name change.

    I’m honesty surprised that it only tanked by 56%.

    Also, pay attention, u/spez!

        • danielton@lemmy.frozeninferno.xyzEnglish
          19·
          11 months ago

          Still blows my mind that a co-founder of a popular (at the time) site decided to copy a guy who knows nothing about social media and is running it into the ground.

          Yeah, I know spez is an asshole, but it’s still bizarre.

          • pastermil@sh.itjust.worksEnglish
            6·
            11 months ago

            That is true. Can’t say that spez is exactly inexperienced. In fact, he’s been with Reddit for like a decade now.

            • eric@lemmy.worldEnglish
              1·
              11 months ago

              Spez has been back as CEO of Reddit for 8 years after a break of 6 years from the company.

          • fluxion@lemmy.worldEnglish
            5·
            11 months ago

            These guys are so detached from society that the only thing that catches their attention is obscene wealth and power

      • eric@lemmy.worldEnglish
        3·
        11 months ago

        Fidelity has devalued their contribution to Elon’s investment by 65% in the past 11 months.