How profitable was twitter last year, do we have any numbers? I wonder if there’s some back of the envelope calculation one can make where looming deadlines of bank repayments and falling revenue converge at some critical point.
Of course, there can always be more bailouts by creditors to cover the tab for an unlimited amount of time, but I’d be interested to see how fast twitter is bleeding out (if at all).
Menzo
3801
I assume these are accurate because Twitter was a public company.
Basically with all the new debt Twitter has, they have to find a way to fill a roughly $1.3 billion hole. I’m not sure when the first $1 billion payment is due though.
$8 check marks is not going to come close. Of course they are saving a ton of money by getting rid of most of their staff.
There’s plenty of other diseases that people need vaccinations for.
Under the debt commitment letter, the borrower can elect between 1, 3 and 6 monthly interest payments. I don’t know if it’s been disclosed what he chose. The main loan only repays 1% principal a year, in quarterly instalments.
ShivaX
3803
Which is why people say it’s doomed.
It’s not even a matter of function issues or the like. It’s more a matter of “Twitter literally can’t be profitable in this scenario”. They’d have managed it in 2019. Assuming it was a one time thing. It is not a one time thing. Let’s say this debt appeared in 2018. Twitter would have lost money in 2018. In 2019 it would barely have been in the black as that unpaid debt carried over. In 2020 they would have been screwed.
At least from my back of the napkin math. I’m sure there are ways to keep things floating while never actually making money, since tons of companies seem to manage it.
So is Musk running a “too big to fail” scam? Does he want to devalue Twitter and get the debt renegotiated?
Menzo
3805
That is one possibility. He already floated bankruptcy as an option, though he didn’t give a timeframe.
ShivaX
3806
The debt devaluation started happening within a week as I understand it.
nKoan
3807
Dense and intense is one way to describe Elon.
I’m naming any trip I take to the bathroom now “dense and intense.”
Calelari
3811
+1 Like
aside: is there a list somewhere of all the Garek-heavy episodes?
This reddit post lists all of them
I feel the best are probably:
- In the Pale Moonlight
- The Wire
- Die is Cast and Improbable Cause
- Rocks and Shoals
- Our Man Bashir
- The Way of the Warrior
Got my first (?) ad on Twitter for tactical body armor.
KevinC
3816
Who needs Apple when we can have tacticool?
nKoan
3817
I finally signed out of Twitter yesterday. Didn’t delete my account, just made it a tiny bit harder for me to casually browse it. But man the muscle memory is strong.
SO STRONG. Sometimes I decide I’ve been scrolling on Instagram long enough, so I close it. Then as I’m about to decide what to do next, my thumb just taps to open Instagram again.
Hahaha. I don’t even know what my Twitter password was, and I’m not asking for it.
