jeremyp
Philosopher
That's horrific. And it's not merely devalued; after Musk's renovations, according to his own statements the business is now unsustainable.
The main problem for TwitterX is the $13 billion loan debt it has its books. Even if Musk hadn't changed a thing and Twitter had returned to "profitability", that would not have been enough to service the debt.
Musk engages in gaslighting when he claims he had to make the savage cuts because of the interest repayments. He makes it sound like he's trying to rescue the company from its debt, but of course, it was him who created the debt in the first place.
It was a good decision on his part to buy out the shareholders and delist the company, because he would be facing lawsuits now if he hadn't already been.
Wait, what? If he hadn't bought out the shareholders, he wouldn't own the company now and he wouldn't be the target of lawsuits.
You do understand that buying the company and buying out the shareholders are the same thing, don't you?