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Merged Musk buys Twitter!/ Elon Musk puts Twitter deal on hold....

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shemp said:
Only a complete idiot would trust this goddamn ************ with their money.
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If it uses the WeChat model, he wouldn't have access to users' money. The app would securely connect to your bank to process transfers, like Venmo does, or Apple/Google Pay.

The question of whether Musk's Twitter expansion would do it that way or not is a separate question.
 
I Am The Scum said:
I just (re-)checked and the gray check is still gone.

But I can confirm that the blue check is definitely for sale and people are already doing stupid stuff with it.
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Was the joke worth the money?

Maybe. But it's going to get old pretty fast, and then people will stop doing it.
 
Ziggurat said:
Was the joke worth the money?

Maybe. But it's going to get old pretty fast, and then people will stop doing it.
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The people doing it for joke might get bored and move on, but the people doing it as part of a scam haven't even gotten started yet.
 
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Things are going great

According to messages shared in Twitter Slack, Twitter’s CISO, chief privacy office, and chief compliance officer all resigned last night.

An employee says it will be up to engineers to “self-certify compliance with FTC requirements and other laws.”
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It took me less than 25 minutes to set up a fake anonymous Apple ID using a VPN and disposable email, attach a masked debit card to it (with the address being Twitter's HQ), and get a verified account for a prominent figure. Just think what a nation-state or bad actor could do...

https://twitter.com/JackMLawrence/status/1590480221257359361

Making it really easy for scammers.

ETA: its actually trivially easy to get a prepaid debit card and register your address to wherever you like.
 
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The chief information security officer just resigned without warning.

Now click here to enter your banking info.
 
arthwollipot said:
If it uses the WeChat model, he wouldn't have access to users' money. The app would securely connect to your bank to process transfers, like Venmo does, or Apple/Google Pay.

The question of whether Musk's Twitter expansion would do it that way or not is a separate question.
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I'm not sure what you mean by that. For all three of those services you have to link a bank account or debit/credit card. Unless you mean Twitter would only take a 3rd party payment system (like Google Pay)? Then they wouldn't actually have your details.
 
It’s all about subscriptions:



https://www.cnbc.com/2022/11/10/read-elon-musks-first-email-to-all-twitter-employees.html

From: Elon Musk [email removed]
Date: Nov 9, 2022 [time stamp removed]
To: Team
Sorry that this is my first email to the whole company but there is no way to sugarcoat the message.

Frankly, the economic picture ahead is dire especially for a company like ours that is so dependent on advertising in a challenging economic climate. Moreover, 70% of our advertising is brand, rather than specific performance, which makes us doubly vulnerable!
That is why the priority over the past ten days has been to develop and launch Twitter Blue Verified subscriptions (huge props to the team!).

Without significant subscription revenue, there is a good chance Twitter will not survive the upcoming economic downturn. We need roughly half of our revenue to be subscription.
Of course, we will still then be significantly reliant on advertising, so I am spending time with our sales & partnerships teams to ensure that Twitter continues to be appealing to advertisers.

…snip…. Managers will send the exception lists to me for review and approval.
Starting tomorrow (Thursday), everyone is required to be in the office for a minimum of 40 hours per week. Obviously, if you are physically unable to travel to an office or have a critical personal obligation, then your absence is understandable.
…snip…
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Darat said:
It’s all about subscriptions:
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I'm looking at their latest 12 month trailing numbers. If their ad revenue is cut in half that leaves them with 2.6 billion in revenue from that stream. To get that other 2.6 billion back from subs they need 27 million subs at $96 a year. Best of luck with that.
 
shemp said:
I hope Twitter goes under, Tesla fails, and Musk ends up dead in the gutter having choked on a bag of dicks.
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Realistically he's gonna end up losing control of both companies. Twitter and Tesla will continue on as brands owned by somebody. Musk will just fall back to a few million he has stashed in a Swiss account or the like and live a life still far more comfortable than 99.99% of the worlds population.... unless he's a total moron and has nothing unattached to Tesla squirrelled away.
 
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Starting tomorrow (Thursday), everyone is required to be in the office for a minimum of 40 hours per week.
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Does the week start on Thursday? Or does he expect forty hours spread between Thursday, Friday, and Saturday? I think it's a bad sign: not the demand itself, but the imprecision of how it's been issued. It's okay to be commanding but if you're going to be commanding you have to be clear.
 
lobosrul5 said:
I'm looking at their latest 12 month trailing numbers. If their ad revenue is cut in half that leaves them with 2.6 billion in revenue from that stream. To get that other 2.6 billion back from subs they need 27 million subs at $96 a year. Best of luck with that.
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It all depends on how much Russia is willing to shell out to continue their misinformation campaign. Musk might end up only needing 27,000 real people to subscribe if Putin is feeling generous.
 
I've made backup/alternative accounts on Mastodon and Tribel incase Twitter and/or Facebook ever get bad enough I don't even want to lurk/have an account on them anymore.

Just sort of "Future Proofing" my social media presence if that makes any sense.
 
lobosrul5 said:
I'm looking at their latest 12 month trailing numbers. If their ad revenue is cut in half that leaves them with 2.6 billion in revenue from that stream. To get that other 2.6 billion back from subs they need 27 million subs at $96 a year. Best of luck with that.
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Would that make it profitable?
 
Darat said:
Would that make it profitable?
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Hard to tell. Twitter's biggest expense, like most companies, is labor. Of which, Elon supposedly cut in half. If they can keep their revenue roughly the same and cut their costs, then yeah. Twitter was on pace to lose something like $100 million for the year. But starting up a subscription based model of course has overheads itself. Then theres the fact they gutted their compliance department, How much will it cost them if they fall afoul of the FTC or EU laws? Oh and supposedly Elon's cost to just service the loans he took out is about $1 billion a year. If Twitter was publicly traded I'd strongly consider shorting them.
 
TragicMonkey said:
Does the week start on Thursday? Or does he expect forty hours spread between Thursday, Friday, and Saturday? I think it's a bad sign: not the demand itself, but the imprecision of how it's been issued. It's okay to be commanding but if you're going to be commanding you have to be clear.
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I can understand his wanting to have employees in their offices a good part of the work week,but he gong about it in the wrong way.
 
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