General Elon Musk Fukkery Thread

GnauzBookOfRhymes

GnauzBookOfRhymes

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NaijaProdigy Redux said:
Even in a perfect world where they maintained revenues, publicly traded revenue multiples for online ad-based / social media businesses have completely collapsed.

Getting issued equity at that valuation is a slap in the face
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Slim said:
Yeah, that's a good point. Elon's math implies Twitter's valuation = 10x Sales

But the P/S ratio for ad businesses (i.e. Snap, Pinterest, Google, Meta) is in the low single digits right now.
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That $20B comment he made was pure PR. He knew the media would report it as though that’s an honest valuation. “He’s admitting he’s lost half the value!.”

And he was right. A well researched NYTimes article by an experienced journalist might report the figure stipulating it was Musk himself who threw out that number and talk about how the business itself has cratered etc. But any online article that links to that article or cites it, will report it w/o any context.

If he said $20 I wouldn’t be surprised if the real figure is $5.
 
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