Submitted by G1lg4m3sh t3_z2ais6 in wallstreetbets
With the ongoing twitter fiasko I'm wondering if there is the possibility that Elon will sell (have to sell) more of his Tesla stock. Advertisers pulling out of Twitter, already 50% of the staff fired and another good chunk of the remaining staff not agreeing to Elon's work demands/leaving. All in all if he doesn't turn it around it's not looking good. Or am I missing something here? what do you guys think?
P.S. yea I'm regarded
>There is always the possibility that Elon will sell more of his Tesla stock, but it is difficult to say for certain. The current situation with Twitter is certainly not ideal, but it remains to be seen how much impact this will have on Tesla's business. It is possible that advertisers may pull out of Twitter, which could lead to a decline in revenue and profit for the company. However, at this point it is too early to tell what the full extent of the fallout from the twitter fiasko will be.
Thank you
Twitter was already operating at a massive loss every quarter.
Losing some advertisers might hurt, but not as much as removing the massive amount of unneeded staff.
“No, he’s never going to buy twitter!”
-
Yes. Also a bunch in case you were wondering. Honestly it might be best if he finishes killing off Twitter sooner than later, for all the Tesla bagholder’s sakes.
I used to be so proud of my TSLA investment. Sold it all yesterday. This twitter dumpster fire is the downfall of what would have been a fantastic empire.
This is all bloviating from the people upset about the changes.
They were asked to come to work and do work during work hours, which effectively none had been doing.
IMO he was half joking and found himself in a horrible position between a bad decision and a crashing equity market, unable to back out, now trying to stay afloat and failing. Something needs to die. I hope it's only twitter.
I'm convinced he wanted to start a fire at the company. He pretty much stated as such with all of his "Radical changes" that he wanted to do.
Imagine when the end result is the consumers/advertisers going "This isn't what we signed up for." and just leaving.
[removed]
have you read what elon sent them? my mans literally said they will have to be 'extremely hardcore', 'working long hours at high intensity. bruh
Have you seen the video of the woman going through her day at Twitter?
"Show up at office 10 AM; get latte; do yoga; one meeting lunch one other meeting; leave 330"
His message was designed to entice them to quit; he's trying to weed out all the slackers like the guy who reportedly after being fired for tweeting curses at Musk was offered a job by Reddit and turned it down because he "likes to rock into the office at 11 AM".
Now, MAYBE Musk means 18 hour days 7 days a week for months on end-- but that's not actually legal to demand people to work, and it seems to me that "9 to 5 with an hour for lunch and generally working not doing yoga" would qualify as "extremely hard core" for the employees.
Twitter will be fine long term; too many people are too addicted to it. It'll go through a rough patch, but it will come out the other end with employees who fit its new culture and in a much better place.
Combine $8 per month and cutting so many employees free, I would think he's good for now.
Tesla should start advertising on Twitter?
Tax loss harvesting for the sale of stock he had to make to tax payments earlier this as his shared became vested. Connect the dots …he’s got a whole tax / legal department working for him
He’s got hundred billion dollar coloured glasses
50% of staff fired would be great for Twitter. Trim the fat!
The Lord has spoken and therefore it shall not be so. Amen.
Yeah, now that operate at a massive lost AND have to pay $1 billion in interest on loans financed for the acquisition.
I mean-- except by firing the bloated staff they reduce the operating expenses?
And on that note….just spitballing here but….doesn’t ford spend like 4 billion a year in advertising? Soooo in like 20 years, would this purchase pay for itself in Tesla, spacex/starlink, boring, etc. adverts alone ?
He’s got rid of around 90% and good, a lot of them where self entitled lazy f**ks. Bitching they have to pay for lunch, no more free meals. A senior engineer your looking at 250-500k
Making videos showing how lazy and how much of the piss you’re taking, oh 10am here getting my latte, then chilling out catching up, to then a glass of wine on tap and to the roof garden. That’s not a person who’s working 35-40hours, it’s a day out with mates.
Twitter will save an easy 500m to 1b in wages/benefits.
The advertisers will be back when they realise they are losing out to there competitors who are either still on or go back before them. Eapecialy with sales down and Christmas around the corner.
Many revenue streams available moving forward.
And despite it all traffic is up due to all the media attention and the platform is still available.
Same, sold at 180, but I want back in already, Stockholm syndrome, I’m hoping for 150 then back in, otherwise it was a good run
She took the piss with that video, and shows the culture and how many are just lazy self entitled tw@ts, I would of canned there arses too.
Like you say easy way to shake the tree and get rid of the dead wood and work shy
Except
A) they have to pay those employees 3 months severance so it's not immediate
B) Twitter will eventually have to hire more people because they're operating on a skeleton crew comprised mostly of people on visas. See https://matthewtejo.substack.com/p/why-twitter-didnt-go-down-from-a for an example of why Twitter hasn't suffered a massive incident yet
c) There is no way they pay $1 billion in payroll alone per year. Their last quarterly General & Administrative was $217 million.
absolutely not, i have no idea where this weird narrative that all these employees were lazy and entitled is coming from. there may have been some dead weight, usually is in most organizations, but the scope of the layoffs is absolutely staggering and is complete mismanagement.
Yeah- I don't buy any of these "twitter is doomed" narratives; these are all being floated by people with an agenda.
Right on! Elon should hire us to run Twitter.
I’m good. I’ll keep my Tesla shares. Very low cost basis. Started with only $2000 invested. I’ve seen $2k wasted in worse ways. A lot can change in 5, 10, 15 years. I’ll ride it out.
yes
Becky Quick was in a meeting with him and said, she questioned his decision until she heard him elaborating his plans. She said he put a lot more thoughts into it than people give him credit for.
(Having said that, I do think he didn’t like the price tag and couldn’t back out of the deal)
Margin call
Bought at 50, but holy fuck has Elon gone to shit. Making me question selling it all just to assuage my moral guilt.
I think it’s jealousy
Like if there’s anyone to blame for over hiring, it’s the CEO and execs
How is any of this the fault of the workers
Even if you’re a sheeple who’s eaten this “narrative” that Twitter workers are evil liberals … the workers are not making content decisions — their bosses are
Taking glee in workers who are just following exec’s orders getting fired is some weird brainwashing
And like… execs actually making these decisions are getting like $20million to $1billion+ pay packages
And you’re blaming workers making less than 1% of that?
[removed]
I could see it panning out in like 5-10 years. But for now I don't think it's a good way for tesla to market thier cars. Twitters average user makes under 75k and is under 35, teslas average buyer is older and makes significantly more. It could work long term but that depends on Elon keeping Twitter from blowing up and twitter retaining its users into thier 40s.
This is not financial advice.
Warmest regards
PUT YOUR HANDS UP Adventurous_Wonder21!!! POLICE ARE ENROUTE! PREPARE TO BE BOOKED FOR PROVIDING ILLEGAL FINANCIAL ADVICE!
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
He is already selling more shares to cover the Twatter operating expenses, yes Twatter, it’s for twats now. He is not laying off people and cutting costs because things are going good!! It’s getting worse and all the new bots created for the BS polls are making it worse. Puts for the win on TSLA!
Yep. There are other investments. At this point, plenty with more potential.
I wonder the same thing. He seems to have acted on a whim while talking with his friends. Got carried away with $40B. Doesn’t seem to be his finest hour
Never said all, said a lot!
[deleted]
The fuck are you talking about? Twitter was ALWAYS only for twats.
I wonder when Tesla and spacex investors will be tired of footing the bill for twitter and start unloading their own shares…
How old is the average Tesla Driver? Are the old people purchasing them for younger sugar babies?
I think Twitter files for bankruptcy first. Imo
Lmao. If you could get spacex shares, you would be here typing this nonesense
Its called class warfare. Im not sure exactly how these people have convinced themselves they are part of the billionaire class...
Elon es looking for something deeper with twitter, he is trying to get energy from humans emotional reactions.
Wasn’t it one of his BS polls to buy Twtr or not, that he got committed to buying it! Says lot about decision making by twtr polls.
sell puts?
You think Elon gives a shit about pouring more money into failing twitter by selling TSLA shares? He’ll let Twitter declare bankruptcy before selling off more Tesla shares, would be stupid to do that after just recalling 322K vehicles and SP hitting 2 year low
There was no thought process. Just a combination of Bipolar Disorder, drugs and sleep deprivation.
My unpopular opinion, Twitter will be re-made by him and in few years a new IPO, the share prices will go up in the first few days (Elon will choose a perfect time for the IPO) and he will sell a lot of shares and make up all his loses.
Lol yah we forget this part. Write offs or pay taxes
Same reason they convinced themselves some SWE making $400k is dead weight or that your performance is based on lines of code written.
That may have worked in the past. But is “genius overlord” status is seriously lacking these days. He’ll be in serious trouble long before those few years are over.
At least the people who paid money up front for the tweets will have to wait until tweet 3.0 is launched - their money is trapped!. Should help with the cashflow. Just need to wait for that new gigatweet to open so the tweets can be produced faster/more cheaply.
Also the greenrocket subsidy from the government will help to shore up the production of tweets.
Also we built a test section of the tweet pipeline (1600 characters) and put some videos of it on youtube.
Also we sold some hats for the tweethole company that allows tweets to be sent underground.
It's fine, all under control.
I wouldn’t look at a price target I would just watch the overall market for the bottom. It could go under $100
Remember when Google had all that fun fancy shit in their offices and tech blogs couldn’t get enough of it?
There’s no shame in offering welcoming work environments.
Keep hittin that copium
Just because there aren’t public common shares available doesn’t mean a private company doesn’t have investors
We get it, you work for a dumpster from 7-5 and are miserable, you dont have to put people down for having worked at a job you wish you had.
Who works 7-5 🤣
You helmet wearing short bus riding stuttering regards must be the dumbest people alive. Twitter is thriving and having record engagement everyday with record daily profits! Now all of you go ask your wife’s boyfriend for forgiveness for your stupidity.
It's probably not 9 to 5 with an hour for lunch, it's probably the more typical USA, 8-6 with an hour for lunch, and possible crunch on and off for the forseeable future.
Lmao yeah right, Twitter will be profitable in 12 months watch it go and thrive with the 80% of world’s population that can’t stand western keyboard sjws
lol - you forgot those massive interest payments.
They'll lose revenue proportional to their staff cuts. They will see profits for about a year then the staff will be unable to keep up with maintenance or add new features, unless they are already working on replacing all the staff they dismissed.
People don't understand that companies can't just raise their revenue per employee because they laid people off. If they didn't need the staff before, they wouldn't have hired them in the first place.
Yeah. With the $1bn a year extra cost added on from servicing the debt raised to help finance the deal.
According to tesla the average model 3 owner is 54
What is the collateral for the loan he got to buy twitter
Well….for one, your logic of what somebody does before a major acquisition, which he was legally forced into, doesn’t reflect what he would do now and risk further damage creating more negative sentiment on TSLA, which is significantly more important than now privately owned Twitter. To think he needs to sell off more shares just to fund Twitter projects vs needing major capital to purchase a big company are not one and the same, Learn the difference genius 👍🏽
That might be the case- except we've already seen, the majority of these employees were effectively NOT doing the work of a full time employee.
They seem to have had something like 10-15, maybe even 20+ people on pay roll for every 40 hours of work.
They can replace a few, be at a far lower staffing level and still turn out more productive work.
Shit, since they're in west coast time zone he should shift them to a 6:30-3 with a half hour lunch.
> Bipolar Disorder, drugs and sleep deprivation.
where do i sign up?
Thanks! I assumed younger, but I can see how the price could limit who can afford one.
I did, and made a lot of money. I even did work outside of work at times. You said Twitter employees were lazy. Why dont u work 7-5?
Because them hours are rubbish. Sorry are you jumping to the conclusion of the number of hours? Appose to the time of the day?
I don’t like working all the day light hours inside, many down sides to this, I prefer to have some of them hours for myself and work later through the day/evening. Benefit of working for your self and able to choose your core hours.
Take that as you will bit it's also worth noting the most recent source containing that number I can find is from 2018 and no updated data is available
Maybe
Damn my bad, I thought that according to you, people were lazy for working less than you. You're working less than me so it seems fair.
VisualMod t1_ixfd9i5 wrote
Check out the new wallstreetbets discord