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Could X go bankrupt under Elon Musk? (www.bbc.com)
submitted 2 years ago by to c/technology@lemmy.world
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[–] 22 points 2 years ago* (2 children)

Go F Yourself meltdown is probably the final nail in the coffin. It does seem like space nazi knows it's doomed. Anyone know what happens when bankruptcy happens? Does creditors take over the company? Does he get sued for negligence? Does it get sold to a highest bidder for pennies on the dollar? I'm hoping someone can enlighten us.

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  • [–] 13 points 2 years ago* (1 child)

    Go F Yourself meltdown is probably the final nail in the coffin.

    I'll believe it once they're actually bankrupt. So many things have been predicted as "killing" the company in the last year yet somehow they're still going and millions and millions of morons/addicts are still using it.

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  • [–] 6 points 2 years ago (1 child)

    It doesn't matter how many people use the service, what matters is how many advertisers are left vs how much debt twitter has to service.

    Those two numbers seem to be heavily on the side of the debt now.

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  • [–] 2 points 2 years ago

    Yeah. About 47% of all internet traffic is bots and that number seems to be growing year over year. Twitter does still need people to serve advertisements too. So the number of people who continue to use the service does matter. But because it's directly correlated to the amount of advertisers who will continue to support the platform by paying Twitter to run the ads. But I do think you're correct. The debt is what will cause problems if advertisers keep bailing. Twitter hasn't been paying any of its bills.

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  • [–] 13 points 2 years ago

    The first kind of bankruptcy, Elon & his Saudi bros keep the company, and the banks lose like 50-90% of their loans.

    The second kind of bankruptcy, the banks get all the servers and office chairs and sell them to either a new data-mining company or a recycler. This isn't very likely, because most of the value of Xitter is all the people who keep visiting, regardless of whether Elon knows how to monetize them.

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