Musk said early Saturday that cash flow at Twitter remains negative because of a nearly 50% drop in advertising revenue coupled with “heavy debt.”
Musk said early Saturday that cash flow at Twitter remains negative because of a nearly 50% drop in advertising revenue coupled with “heavy debt.”
I’m amazed people still drive and ride in Teslas after seeing how badly this guy runs a social media site.
I don’t see how a social media site and an automobile company have much in common.
It’s quite possible that Musk is better at some things than he is at other things. Engineering and manufacturing are quite different from maintaining a large social media company, the skills don’t translate.
Another major difference is that Musk built Tesla up from a small size, so it was always structured according to his style and expectations of management, whereas he bought Twitter as an already-large company with an established corporate culture that didn’t match what he would have done. That’s the first time he’s bought such a large pre-existing company, as far as I’m aware, and he’s having huge problems “reshaping” it.
@FaceDeer
@kuontom @const_void Bullshit. He did not found Tesla. And Tesla gets many billions of dollars of subsidies, something you can’t do with Twitter. It’s easy to imagine how Musk mismanaged Tesla just as badly as Twitter now, but with the advantage of the government saving him back then. Also, with ZIRP (zero interest rate policy) by the Feds, you can borrow money at basically zero cost anytime you want. You can string along a disastrous mismanaged company for years in that scenario.
Well, Tesla is publicly traded, makes money, and clearly their cars work because they have lower than average road fatalities. With the disparity of how badly Twitter’s being run vs Tesla I wonder how long it’s been since Elon’s actually been in charge of anything other than being a spokesperson for Tesla.
@Catch42
@kuontom @const_void
No one really knows if Tesla makes money. It’s been long noticed that Musk is extremely dishonest and could easily be faking all of the numbers.
It’s a public company, there are legal requirements for reporting its cash flows to its shareholders. If they’re being fudged to that degree then that’s massive fraud and Musk would be in very serious legal trouble.
@FaceDeer
@kuontom @const_void @Catch42
We live in the age of fraud. It’s easy to fake those numbers. Hell, the regulations will even help you defraud investors. In fact, you should google Wirecard as an example of this, and realize it could totally happen again. Also, look at how rich Musk already is and realize he has already gotten away with it. Legal trouble just means he may retire in slightly less comfort than he would’ve anyways.
Are you sure about that?
Yes, because rising road fatalities and having lower than average road fatalities are not mutually exclusive. Radar-era autopilot was incredibly safe, so even though Elon made the stupid decision to make it vision-based which has caused fatalities to go up, they’re still below average. You can check NHTSA’s ratings just type in Tesla in the search bar and you’ll see that they’ve gotten a 5 star rating on every car in every category.
Of course if you look at Tesla’s own data they claim to the orders of magnitude safer, which I’m sure is only possible with some creative data manipulation, but it’s silly to claim that Tesla’s are less safe than average.
The NHSTA ratings are based on crash tests. Not real world accident statistics.
You didn’t read your own link but did you read the article I linked to (and ideally the WaPo article it links to, for more detail)?
If so, I ask again, are you sure about that?.
I read both articles you have linked to, I don’t think either of them contradict what I said. Both articles point out that Tesla dominate automation related accidents, which makes sense because Tesla has a far greater number of automation equipped cars on the road than other manufacturers. Furthermore they point out that those accidents have risen dramatically over the past few years. If you look at the graph on the WaPo article you linked to you’ll see it’s in agreement with what I said since Tesla switched to vision based systems in mid 2021.