▲ 774 ▼ Elon Musk admits X 'may fail, as so many have predicted' (www.businessinsider.com) submitted 2 years ago by gsa4555@lemm.ee to c/technology@lemmy.world 351 comments fedilink hide all child comments
[–] A2PKXG@feddit.de 7 points 2 years ago (2 children) The money isn't gone, it's just changed hands permalink fedilink source parent hideshow 4 child comments replies: [–] Prager_U@lemmy.world 3 points 2 years ago Money ain't got no owners. Only spenders. permalink fedilink source parent [–] afraid_of_zombies@lemmy.world 0 points 2 years ago It doesn't work that way. Almost all of the money in the world is debt owed to someone else. Very few things are bought with cash. It is really credit on credit on credit on credit. And all of that depends on trust. My company gets product from your company today with the promise to pay in a month, your company does the same... When events like the Twitter buyout and burn happen it weakens trust. Which weakens credit. Which means the virtual money is gone. permalink fedilink source parent
[–] Prager_U@lemmy.world 3 points 2 years ago Money ain't got no owners. Only spenders. permalink fedilink source parent
[–] afraid_of_zombies@lemmy.world 0 points 2 years ago It doesn't work that way. Almost all of the money in the world is debt owed to someone else. Very few things are bought with cash. It is really credit on credit on credit on credit. And all of that depends on trust. My company gets product from your company today with the promise to pay in a month, your company does the same... When events like the Twitter buyout and burn happen it weakens trust. Which weakens credit. Which means the virtual money is gone. permalink fedilink source parent