Twitter was doing fine financially before Musk bought it. He paid more than twice what it was worth and he used loans to do it, that's what this is all about.
root
joined 2 years ago
I'd argue it should be the default position.
Why should I respect this elaborate system of property rights that was largely built by and for terrible human beings who actively sought to tyrannize others for their own gain?
How much of the wealth held today can be traced back to morally illegitimate if not outright criminal beginnings?
lol it's really not, at all. every generation tells themselves this and it's always bullshit.
The children now love luxury; they have bad manners, contempt for authority; they show disrespect for elders and love chatter in place of exercise. Children are now tyrants, not the servants of their households. They no longer rise when elders enter the room. They contradict their parents, chatter before company, gobble up dainties at the table, cross their legs, and tyrannize their teachers.
- Attributed to Socrates, ~400 BC
Yeah there is a reason, the reason is because his dumbass offered more than twice what the company was worth.
Lots of tech companies operate at slightly under profitability. They were doing fine.