Plunging U.S. revenue at X risks opening up a "massive hole" on its balance sheet that Musk needs to plug to stave off its financial collapse.

Musk’s repeated outbursts against advertisers have dried up the main source of revenue for the loss-making company formerly known as Twitter. A recent decision to sue them for heeding his own advice to not buy ads on the platform hasn’t helped. At some point, he will have to provide a fresh infusion of cash to salvage his $44 billion takeover.

  • Iheartcheese@lemmy.world
    31·
    4 months ago

    The people who aren’t buying Teslas because they hate Musk aren’t gonna change their mind because he sold some stock. The company is tainted forever.

    • auzy@lemmy.world
      3·
      4 months ago

      They won’t a tiny amount… But controlling share they might.

      I can’t afford a Tesla. However, my biggest concern is that musk will half arse firmware or sabotage the company somehow.

      If he doesn’t have controlling share, that’s a win and I suspect quality control will likely improve too

    • LowleeKun@feddit.orgDeutsch
      1·
      4 months ago

      I mean i am too poor and don’t need a car but i could see myself buying a tesla once elon really is gone and the other two factors change for me.

    • ...m...@ttrpg.network
      1·
      4 months ago

      The company is tainted forever.

      …he didn’t found the company, engineer the cars, systems, nor infrastructure: there’s a lot of salvageable value in tesla if he goes away…

      • auzy@lemmy.world
        0·
        4 months ago

        The only real engineering he’s done is likely the boring company (who the duck wants to drive in a claustrophobic one lane tunnel) and the submarine thing the cave divers said wouldn’t work (so he called them pedos)

        • Ragnarok314159@sopuli.xyz
          2·
          4 months ago

          He didn’t engineer anything because he doesn’t know how. At most he drew some kindergarten levels drawings on a white board.

          • auzy@lemmy.world
            31·
            4 months ago

            The reality is… He is an engineer. Not all engineers have good ideas.

            The difference is, he won’t accept criticism

            I do software development and have had a few crap ideas (I once thought I could make a optimised OpenGL library using Matricies). The difference between normal people and him, is that when I got told it was a crap idea, I deleted the project. When he gets a crap idea, he attacks the person giving feedback, so there is NO incentive to provide anything but good feedback

            When you’re surrounded by yes men you’ll only increasingly become over confident in yourself

            • Ragnarok314159@sopuli.xyz
              11·
              4 months ago

              No, Elon isn’t an engineer. He doesn’t have an engineering degree from an ABET certified school, no FE or PE license, nor does he understand basic engineering or design principles.

              You can lick his boots and lie all you want, but Elon is a rich bitch trust fund baby who takes credit for the ideas of others and you defend him. It’s honestly sad, coming from a mechanical engineer, that you as someone who works in software development, would call him an engineer.

    • SSJMarx@lemm.eeEnglish
      11·
      4 months ago

      I’m not so sure. The overlap between “people who would like a high end EV” and “people who won’t buy something associated with Musk” has to be pretty big. I imagine if Musk’s roll was reduced the Board would have to put some work in to rebuild their brand, though - maybe by really focusing hard on quality control and longer-than-standard warranties for a few years, the way Royal Enfield did to shake off their own reputation for shoddy workmanship and cheap parts. Then they could let “the Musk years” fade into history and retake their reputation as the Premuim American EV.