Business/Markets/Stocks/Economics Random, Random

[ponchi101]

To me, the real question is not Why has Bitcoin (example) fallen down to $18k? The question is Why is it STILL at $18k? What more evidence do people need, to see/understand this was a Ponzi?
The people I feel more sorry for are the citizens of El Salvador. They had no say, other than the election, on having their national currency changed to this ether is currency.

[ti-amie]

NYC Mayor Adams was going to try something similar but it seems he was talked down from that ledge...

[JazzNU]

Miami's mayor went heavy into crypto. Last time I heard, it was a mess, and that's before this more epic downward spiral for crypto.

[ponchi101]

By now it is entering the territory where the sharks short it into oblivion. Together with all the phony companies that were telling you what a great investment it was (looking at you, Damon, Brady and Bunchen...)

[ti-amie]

Elon Musk sells at least $3.95 billion worth of Tesla shares after Twitter deal
PUBLISHED TUE, NOV 8 20228:28 PM ESTUPDATED TUE, NOV 8 20229:53 PM EST
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Lora Kolodny
@LORAKOLODNY

KEY POINTS
Tesla CEO Elon Musk sold additional shares of his electric car company after closing a $44 billion purchase of Twitter.
Musk closed the deal on Oct. 28, with equity and debt financing from a wide range of friends and institutions.
Before he sold shares today, Elon Musk owned about 25% of Tesla between stock and options.

Elon Musk has sold at least another $3.95 billion worth of shares in his electric car company Tesla
after closing his $44 billion acquisition of Twitter.

According to filings with the Securities and Exchange Commission published Tuesday, Musk sold 19.5 million more shares of Tesla.

Musk sold almost $22 billion worth of Tesla shares in 2021, a year when the stock jumped over 50%. This year, he sold over $8 billion worth of stock in April and roughly $7 billion worth in August.

In addition to pouring billions of his own capital into taking Twitter private, the Tesla CEO relied on partners, including equity investors Binance, Ron Baron’s BAMCO, Andreessen Horowitz, Twitter’s former CEO Jack Dorsey and Prince Alwaleed bin Talal bin Abdulaziz of Saudi Arabia, to finance the deal, or to roll their existing shares into his holding company for Twitter.

As NBC News previously reported, Sen. Chris Murphy (D-Conn) has called for an investigation into the national security implications of Saudi Arabia’s stake in Twitter following Musk’s take-private deal.

On Aug. 9, Musk told fans he was done selling Tesla shares to fund a possible Twitter acquisition. He wrote, in a tweet, “In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock.”

At the time, Musk was still battling the social media company in court to try to get out of the deal — which he proposed and agreed to in April.

Since closing the purchase, Musk has pulled dozens of Tesla engineers to Twitter to assist him with code review and other work.

Compared to the Nasdaq Composite which has declined about 33% year to date, Tesla shares are off 46%, wiping out a big chunk of Musk’s fortune. However, he’s still the world’s richest person with a net worth of close to $200 billion, according to Forbes.

At a conference last week, Musk told hedge fund manager Ron Baron that his “workload went up from about, I don’t know, 78 hours a week to probably 120.”

Musk, who’s also CEO of SpaceX, said on stage that “once Twitter is set on the right path, I think it is a much easier thing to manage” than his other companies. Musk hasn’t said who will be the new CEO of Twitter, but he’s suggested that his role as “Chief Twit” and sole director at the company is only temporary.

https://www.cnbc.com/2022/11/08/elon-mu ... hares.html

[ti-amie]

[ti-amie]

I think it's safe to say that if this really happens all of the communities that exist on Twitter - from Tennis Twitter to NBA Twitter to Cricket Twitter to Football/Soccer Twitter to Figure Skating Twitter and the various ethnic twitters as well as nature and cute pets twitter will be gone. So will Political and business Twitter.

[ponchi101]

Keeping the differences: this is starting to look, financially and economically, as disastrous as Russia's invasion of Ukraine has been politically and militarily.

[ti-amie]

[ti-amie]

[MJ2004]

I set up an account on Mastodon a few days ago. Not much happening there right now (or likely ever), but still I'm ready to go. More likely people I follow will go Instagram and less so to Tiktok (where I won't follow them).

[ti-amie]

I set up an account on Mastodon a few days ago. Not much happening there right now (or likely ever), but still I'm ready to go. More likely people I follow will go Instagram and less so to Tiktok (where I won't follow them).

I finally set up an account on Mastodon too. I think it's "dull" because of the thing with "silos". I'm in one for the San Francisco Bay Area because there are none for the NYC area, and last I checked there are still none for sports of any kind. They were not ready for the large influx of people they've experienced. I wonder if they'll change how they present their site.

I reactivated my Tumblr and was immediately reminded about why I rarely (never) used the site. I searched for the tag "tennis" and a naked woman straddling a tennis net was among the possibilities that they sent to me.

[ponchi101]

...

I finally set up an account on Mastodon too. I think it's "dull" because of the thing with "silos". I'm in one for the San Francisco Bay Area because there are none for the NYC area, and last I checked there are still none for sports of any kind. They were not ready for the large influx of people they've experienced. I wonder if they'll change how they present their site.

I reactivated my Tumblr and was immediately reminded about why I rarely (never) used the site. I searched for the tag "tennis" and a naked woman straddling a tennis net was among the possibilities that they sent to me.

Link, please....
(No, I would have to ban both of us, which is half terrible )

[Suliso]

Sadly there are no very good alternatives. By the way how is Mastodon making money?

[ponchi101]

The alternative is for this sort of media to disappear.
And that is NOT a bad alternative. The belief that you can say anything meaningful in a tweet is beyond my comprehension.