Musk’s repeated outbursts against advertisers have dried up the main source of revenue for the loss-making company formerly known as Twitter. A recent decision to sue them for heeding his own advice to not buy ads on the platform hasn’t helped. At some point, he will have to provide a fresh infusion of cash to salvage his $44 billion takeover.

  • Flying Squid
    link
    fedilink
    3047 months ago

    I believe the appropriate thing to say to Elon here is, “go fuck yourself.”

  • John Richard
    link
    fedilink
    1077 months ago

    I have to give Musk credit. At least he help narrow my car buying decision to know at least one brand that I’ll never buy.

    • @Nollij@sopuli.xyz
      link
      fedilink
      English
      377 months ago

      There are many reasons to avoid Tesla, regardless of Musk. The complete lack of independent repair was my deal breaker, but you’ll find your own. Their competition is looking pretty good these days, too.

      • @DesertCreosote@lemm.ee
        link
        fedilink
        127 months ago

        I was talking with a solar company about a solar install with battery storage last year, and they only offered the Powerwall as an option. I literally laughed at them and said there was no way I was tying an enormously expensive piece of home infrastructure to Tesla, because they couldn’t guarantee it’d keep working if Tesla decided to shift direction.

        • @octopus_ink@lemmy.ml
          link
          fedilink
          English
          67 months ago

          I have rejected every one of the endless stream of door to door solar panel sellers primarily because not ONE would leave me substantial documentation of any kind to decide if I wanted to talk to them - the only thing they wanted was a full “consultation.” My view is that if you can’t give me something that illustrates genearlly what you are about to pitch to me, then you probably just want the chance to apply some shady sales tactics.

          Were these door to door guys? Did you go with them? Do you have any opinions on the door to door guys? 🙂

          • @DesertCreosote@lemm.ee
            link
            fedilink
            37 months ago

            No, this was part of a group buy program in my area, which was designed to reduce prices. I ended up turning them down because it was still more expensive than it seemed like it should be, and they were going with an older single inverter system instead of a newer and more efficient micro inverter system.

            I’ve heard the door to door guys tend to massively upcharge. I haven’t had any come through here, though, so I don’t have any direct experience.

            • @octopus_ink@lemmy.ml
              link
              fedilink
              English
              27 months ago

              Thanks! (Sorry for the late reply.) Any particular resources you’d recommend for research? Everything I find googling is either immediately clearly an advertisement, or becomes clearly an advertisement as I continue reading.

              • @DesertCreosote@lemm.ee
                link
                fedilink
                27 months ago

                Honestly I don’t have anything specific I’d recommend. When I was looking into it, I just did a ton of reading on forums along with articles about how to get everything set up. I also looked at the prices I was offered compared to the prices I’d be able to pay elsewhere, and got quotes from several different companies.

                In the end there were a bunch of reasons I didn’t go with solar. I really love it as an idea, and I really want to do it, but it’s enormously expensive. There are lease options, but they’re also expensive and many of them seemed predatory. My utility ended their purchasing program for solar-generated power, and I’m still required to pay a large monthly fee to be connected to the grid, so I couldn’t plan to offset my costs there either. The tax credits are helpful, but you still need to pay up front.

                • @octopus_ink@lemmy.ml
                  link
                  fedilink
                  English
                  27 months ago

                  Thanks! I appreciate this analysis - and predatory is exactly how I felt about the people who came to my door, even if they were polite and friendly, and even though I couldn’t seem to dig out that word.

        • The Pantser
          link
          fedilink
          567 months ago

          It is clever, he told everyone up front that he was there to sink the company.

          • @pixelscript@lemm.ee
            link
            fedilink
            English
            57 months ago

            I thought that actually was the joke of this stunt, and he was being sarcastic. Was that not it?

            • @takeda@lemmy.world
              link
              fedilink
              67 months ago

              I think it was originally supposed to be “let that sink in” so they let it in.

              But, yeah unless there’s some kind of 5D chess that I’m not seeing, he is sinking it.

        • Pennomi
          link
          fedilink
          English
          387 months ago

          It might’ve been funny if he was remotely likable. Turns out that humor depends highly on not being an asshole.

        • @haunte@leminal.space
          link
          fedilink
          English
          67 months ago

          Look at his smile, he’s so proud. As if he just invented the concept of the pun. “You get it guys? Sink in, but it also means, like, a sink you can wash your hands in? So funny. Hysterical. Guys, please laugh.”

  • @some_guy@lemmy.sdf.org
    link
    fedilink
    637 months ago

    That’s because it is almost exclusively tied up in his various corporate holdings that include everything from rocket builder SpaceX and brain chip company Neuralink to his latest startup, xAI.

    None of these investments are easily fungible. Only Tesla is a publicly traded company. So the easiest solution at his fingertips is to liquidate a portion of his remaining 12% stake.

    Let it fucking burn.

    • @TheBraveSirRobbin@lemmy.world
      link
      fedilink
      47 months ago

      Are there? Last I’d heard other options either didn’t have infrastructure to charge vehicles on long trips and / or took too long to charge.

      I really haven’t looked into this so please just take this as a genuine question, and if you do have suggestions on other EVs I’d be curious what they are even though I’m not really in the market for one right now.

      • @jaemo@sh.itjust.works
        link
        fedilink
        207 months ago

        I’ve no complaints about the 2020 Ioniq. Road trips we’ve taken have all had more than adequate chargers, but contextually this is Vancouver Island/Lower Mainland/Gulf islands and they government definitely had a hard-on to put in as much as they could a few years ago, so finally ownership density is starting to catch up a tad now, but new chargers seem to appear all the time.

        Nothing beats just being able to charge at home though.

      • @CeeBee_Eh@lemmy.world
        link
        fedilink
        167 months ago

        Last I’d heard other options either didn’t have infrastructure to charge vehicles on long trips

        Literally isn’t an issue going forward. Other EVs can use Tesla chargers.

        • @sfbing@lemmy.world
          link
          fedilink
          17 months ago

          “Going forward” is actually “not quite yet” for most non-Te sla manufacturers, unfortunately.

      • Rivians seem to be (a) popular, and (b) getting much better reviews than the Cybertruck. So if you’re truck hunting, that’s a good option.

        Didn’t the industry recently standardize on the Tesla connector, though? Wouldn’t that mean you could charge at any Tesla station?

        These aren’t Tesla specific.

        • @AA5B@lemmy.world
          link
          fedilink
          3
          edit-2
          7 months ago

          Didn’t the industry recently standardize on the Tesla connector

          Most of the industry announced that they will standardize on NACS. I believe they expect to actually do it over 2025-2026. That’s not far off but it’s not now.

          I just got back from a 1,200 mile road trip and the Tesla Superchargers were plentiful, fast, easy. The first was at a mall, where the car was done charging by the time we found the food court.

          I suppose I can’t really comment on other brands, except the one time I tried, I didn’t have the right adapter.

          Rivians seem like great technology and styling, however they’re on their first pair of high end vehicles. They’ve announced more reasonably priced models that could be built in higher quantity but they’re not selling them yet. I suppose that does compare with Tesla only selling “Foundation Series” trim level but the difference is those are intended to have a lower cost trim

  • Zier
    link
    fedilink
    457 months ago

    2 4 1 deal, how to trash 2 companies at once. Good job space karen!

  • @vga@sopuli.xyz
    link
    fedilink
    43
    edit-2
    7 months ago

    Could he sell all of it? And then completely fuck off? br, tesla (car) owner

    • @Nurgus@lemmy.world
      link
      fedilink
      20
      edit-2
      7 months ago

      Who would buy it now, though? It can’t have much value left. (Edit: Twitter. Not talking about Tesla, that’s a whole different arc.)

      • @vga@sopuli.xyz
        link
        fedilink
        8
        edit-2
        7 months ago

        Judging by the used car online sites, it has about as much value left as any other car with similar age and kilometers. If I had to buy a car right now, I’d probably take a hard look at the alternatives. But they’d have to actually be better, I usually make car purchase decisions based on the qualities of the car.

        Although Musk is certainly trying to make such principles difficult.

        Good thing my car is new enough that I don’t have to make this choice for several years. Perhaps the competition will have caught up by the time I need to get a new one.

          • @vga@sopuli.xyz
            link
            fedilink
            11
            edit-2
            7 months ago

            I’m glad it worked for you. Things will have to change a bit globally that I would consider a BYD.

            Oh right, perhaps already I don’t make purchase decisions purely based on the qualities of the car :)

            • @gnuplusmatt@reddthat.com
              link
              fedilink
              77 months ago

              I figures it was a simple calculus, especially since BYD is the OEM that supplies parts for many of the other brands, especially the batteries.

              I’d rather benefit from that status than support a egotist like Musk. Besides anywhere outside America the Teslas are made in China, just like the BYDs 😆

              • @AA5B@lemmy.world
                link
                fedilink
                -27 months ago

                I’d rather benefit from that status than support a egotist like Musk

                Have you looked at what your money would support, buying from BYD? If part of your decision is who profits, both choices are horrible and you could argue Musk I less horrible. This is one of the reasons I try to keep that out of my decisions.

          • @toasteecup@lemmy.world
            link
            fedilink
            English
            27 months ago

            I’m in the very very early stages of ecar research. Mind helping me and share what features or data make the BYD Seal better than a Tesla?

      • @jonne@infosec.pub
        link
        fedilink
        77 months ago

        It’s still a car company with factories in multiple countries and pretty much the best battery tech and the best charging network. If they get bought by an established car company, they keep building the model 3 and Y cars while fixing the production issues there’s still a lot of value there. You just need someone in charge that doesn’t spend their days shit posting.

  • @irreticent@lemmy.world
    link
    fedilink
    437 months ago

    “A recent decision to sue them for heeding his own advice to not buy ads on the platform hasn’t helped.”

    Gotta love it. He told advertisers to fuck off, they fucked off, now he’s even more mad at them.

  • @ArugulaZ@lemmy.zip
    link
    fedilink
    437 months ago

    Maybe if he was smart, he’d just give up on the social network and sell it off to someone else. But he’s not smart, so he’ll keep sinking money into it until cooler heads in the company prevail. The era of social media dominance, I’m sorry to say, is over.

  • @Valmond@lemmy.world
    link
    fedilink
    387 months ago

    Why is this news…

    Some rich guy might do something that doesn’t really change anything for anyone.

    • @Voroxpete@sh.itjust.works
      link
      fedilink
      417 months ago

      Because it will affect Tesla’s share price (negatively), just like it did last time, and Fortune’s job is to report on things that affect share prices.

      There is also a public interest element, because Musk is currently the richest man on earth - which affords him massively undue power and influence - but he won’t be if he manages to crash the Tesla stock price with a massive sell-off.

      Tesla is exceedingly overvalued right now which makes it a very volatile stock. We already saw the price crater the last time he sold stock to keep Twitter afloat, and it only really recovered when he pinkie swore not to do it again.

      • @IphtashuFitz@lemmy.world
        link
        fedilink
        English
        137 months ago

        Not to mention that if he sells enough Tesla shares he could lose majority control of it. If that happens and enough shareholders band together they could force all the Elon sycophants off of the board of directors, then the new board could force him out as CEO.

        • @jonne@infosec.pub
          link
          fedilink
          157 months ago

          A lot of shareholders have drunk the Elon kool-aid tho, look at the recent shareholder vote about Elon’s ridiculous pay package.

          There’s a lot of true believers that treat it like a meme stock and don’t look at the fundamentals.

          It’s going to go down eventually, but it might take longer than you’d expect based on the numbers.

          • @Voroxpete@sh.itjust.works
            link
            fedilink
            37 months ago

            100%. Tesla shareholders are an almost entirely irrational market. Turns out buying into a stock that over-priced does not self-select for a healthy ability to assess risks.

      • @AA5B@lemmy.world
        link
        fedilink
        -7
        edit-2
        7 months ago

        I understand the aversion to Musk coming out as a horrible human being, but Tesla is still pivotal to the EV industry. Or maybe we get a twisted view of reality in the US, but most EVs sold are still Teslas and teslas are arguably the cheapest, most compelling EVs available for sale.

        • Legacy manufacturers have always resisted the newer technology, and when they finally invested the money, took the first opportunity to step back away from them.
        • Rivian and Lucid have exciting technology and styling, and the opportunity to take the lead with compelling EV but are still too young. Neither have yet released a car that they can sell in volume. Remember all the stories of Tesla almost going bankrupt trying to scale up the model 3? They still need to get past that.
        • GM seemed to have a lot of promise but took a few years off from EVs, and really flubbed the new releases, so are returning their focus to ICE vehicles
        • Ford had a great strategy but too much dealer resistance and profiteering. No one is buying a car that starts off much more expensive than comparable models, has huge dealer markup, and salesmen steering yu away. They’re a good argument for Tesla’s approach of selling direct
        • does vw sell any EVs in the US? Technically I guess there are Porsche and Audi EVs, for the well off.
        • Toyota and Subaru compliance models aren’t even a blip

        Is Hyundai/Kia our only hope if Tesla has problems? They’re coming in strong with relatively inexpensive and compelling models, but somehow always fly under the radar. For anyone understanding the importance of the technology shift from ICE to EV, we need Tesla

        • @Voroxpete@sh.itjust.works
          link
          fedilink
          17 months ago

          I think this is a culture difference. In Canada Hyundai and Kia are everywhere (at least around the GTA). Probably a third of the cars I regularly see on the street. Definitely not flying under the radar.

    • @5714@lemmy.dbzer0.com
      link
      fedilink
      27 months ago

      Profits stolen by Musk, that do not get reinvested into Tesla, are wasted for unnecessary and or harmful labour time and infrastructure (political advertising etc). Tesla workers produced those profits and now the products of their life-time gets wasted by decision makers like Musk Tesla workers have little power over.

    • @boonhet@lemm.ee
      link
      fedilink
      27 months ago

      Potential Tesla stock price crash aside - if he sells enough stock, the company will be less associated with him and people on the left (you know, people who actually WANT EVs and not coal rollin’ pickup trucks) would be more likely to buy Teslas again. Because to be fair, they do make some damn awesome powertrains (and attach an aerodynamic smart fridge to it unfortunately, but eh, you can’t have everything all at once, now can you)

    • @AA5B@lemmy.world
      link
      fedilink
      -27 months ago

      Twitter used to be very widely used.

      Tesla, at least in the US is by far the biggest EV manufacturer

      They’re both a pretty big deal and he’s well on his way to wrecking one: we hope it’s not both

  • @haunte@leminal.space
    link
    fedilink
    English
    367 months ago

    From this article:

    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.

    From when he bought twitter:

    Mr. Musk has set some ambitious goals for Twitter, which he has said he will transform into an “everything app” called X. In presentations to investors about the deal this spring, he said he anticipated that Twitter would reach annual revenue of $26.4 billion and have 931 million users by 2028.

    Uhh, not even close Musk. I guess he still has 3 years and 4 months to turn it around though. lol. I was told this man was a business genius.

  • @Sgt_choke_n_stroke@lemmy.world
    link
    fedilink
    317 months ago

    Whats interesting is the NRA spent billions in TV propaganda running a news channel and that venture ended up bankrupting the whole organization. It looks like musk is falling in the same trap