Is Elon Musk spending $ 44 Bazillion on Twitter a sign of Late Stage Capitalism?

[Fearandloathing]

If modern capitalism is functioning well, and it produces an Elon Musk, who can effectively burn $44 billion dollars and disrupt countless lives / businesses 'for the lols', what does this say about the system?

When I said 'modern capitalism', I'm referring to the choices that the government makes that allows single people or small families to accrue more wealth than some countries. Capitalism, of course, does not exist in any real capacity without government.

At any point in time anyone is able to start a new social platform to compete with Elon.

In fact, now would be the best time since its clear he hasn't a clue what to do with it.

Frankly I'm as tired of hearing about this guy as much as I am tired of hearing Trump's voice.

Then there is the alternative....no social media at all.

 

[Gimmesometruth]

Twitter functions the same,

"Functions"? You mean the way the website still "works"? Weird, I thought the point was "viability". But you have been doing a lot of goalpost moves lately....oh well, whatever MNG.

and with the nasty politics surrounding the acquisition, one would expect some loss of advertisers who are aligned with the opponents of Musk.

Um, it appears that it is not a matter of his person, but his CHOICES, his DECISIONS. Again, another goalpost move....while ignoring the point you made....the viability of the thing he bought. His business choices have caused advertisers to leave, not your imagined "alignments'".

However, there will be more advertisers who will join Twitter as the opportunities arise.

Okay, keep us updated...

The easy BS to just dismiss him as an "idiot," etc. - he's not an idiot. I'll just see what happens. I'm not invested in it. An interesting sign is that the people that think he's such an idiot also seem to be the same people that label him "right wing" and "MAGA" - interesting, that correlation... lol.

Announces his intention to allow Trump back on, announces his backing of DeSantis.....and you, our closeted conservative, is desperately defending him. Correlations abound!

 

[Felis Leo]

If modern capitalism is functioning well, and it produces an Elon Musk, who can effectively burn $44 billion dollars and disrupt countless lives / businesses 'for the lols', what does this say about the system?

It says that the system is quite amazing to produce such extraordinary amounts of wealth, and punishes those who make wantonly and flagrantly poor business decisions. Lest we forget, Musk tried to back out of the deal, but even the richest man on Earth could not skirt the rule of law to do so.

When I said 'modern capitalism', I'm referring to the choices that the government makes that allows single people or small families to accrue more wealth than some countries. Capitalism, of course, does not exist in any real capacity without government.

This is definitely a thread that should be re-visited a year from now, because it really depends on what becomes of Twitter.

If Musk is somehow able to successfully turn Twitter around in order to make it profitable enough to service the massive amount of debt he incurred to purchase the company, then good for him and the company.

If Musk has to put Twitter into Chapter 11, then it shows that he is not quite God's gift to man that his mother apparently always told him he was, and he stands to personally lose a lot of money. I cannot imagine the banks that lent him the funds to buy Twitter would have been so stupid as to not have him personally guarantee the loans or put up his shares of Tesla as collateral. Twitter would then act as the nemesis to his hubris.

 

[jmotivator]

Everyone on the left loved Elon as long as he was making electric cars. Now he wants to cut the political strangle hold on social media and so now he is Hitler and the progressives hate Tesla.

 

[NatMorton]

Suddenly, $1B magically appears, and we on DP get to choose who's given the authority to spend it so that the greatest public benefit is created. Our choices:

1. Nancy Pelosi.
2. Mitch McConnell
3. Elon Musk
4. Jeff Bezos

Take your time.

 

[Felis Leo]

Everyone on the left loved Elon as long as he was making electric cars. Now he wants to cut the political strangle hold on social media and so now he is Hitler and the progressives hate Tesla.

That really isn't the whole of it, jmotivator. He is also openly backing Republicans.

If a hitherto well-respected apolitical business icon started trashing conservative values and politicians, and backed Democratic candidates, it would be reasonable to speculate that he would lose the support of a lot of conservatives if not earn their outright enmity.

 

[Dans La Lune]

LOL, Twitter didn't look like a "right wing cesspool."

Demonstrably false.

Twitter admits bias in algorithm for rightwing politicians and news outlets

Home feed promotes rightwing tweets over those from the left, internal research finds

www.theguardian.com

Twitter's algorithm favours right-leaning politics, research finds

The social-media giant has found tweets from parties on the political right are "amplified" more.

www.bbc.com

If by "right wing" you mean the current crop of Establishment Democrats as well as the Establishment Republicans

I mean the modern right-wing.

 

[nvflash]

Everyone on the left loved Elon as long as he was making electric cars. Now he wants to cut the political strangle hold on social media and so now he is Hitler and the progressives hate Tesla.

He did make himself the target of the left's political ire by opening his big mouth.

I don't think anyone can dispute that.

 

[Rexedgar]

Everyone on the left loved Elon as long as he was making electric cars. Now he wants to cut the political strangle hold on social media and so now he is Hitler and the progressives hate Tesla.

What “strangle hold?”

Truth Social
Parler
GTTR

 

[Gimmesometruth]

Suddenly, $1B magically appears, and we on DP get to choose who's given the authority to spend it so that the greatest public benefit is created. Our choices:

1. Nancy Pelosi.
2. Mitch McConnell
3. Elon Musk
4. Jeff Bezos

Take your time.

Um, Obama/Nancy lent Elon half a billion for Tesla in 2009.

QED

 

[Felis Leo]

Suddenly, $1B magically appears, and we on DP get to choose who's given the authority to spend it so that the greatest public benefit is created. Our choices:

1. Nancy Pelosi.
2. Mitch McConnell
3. Elon Musk
4. Jeff Bezos

Take your time.

The greatest public benefit?

Ha. None of the above. I would sooner have my local librarian make the decision.

 

[ColdHardTruth]

LOL, right wing....

Let's revisit what you call "truth." You said, "Elon Musk is, was, and will always be a rat. He is an agent of the MAGA hordes and bought Twitter because the reich-wing did not like getting banned for spreading hate."

First, it's not a "truth" that you all him a "rat." That's your silly opinion. Similarly, you call him an "agent of the MAGA hordes" and the only evidence you have is that he doesn't want to ban people for expressing conservative or right wing viewpoints, which, of course, is what you mean by "spreading hate" - LOL. You should be aware that the kind of bannings that Musk has expressed concern about are bannings for "talking about the Hunter Biden story," banning the former President of the US from Twitter for announcing that he won't attend the inauguration and doesn't think the election was legit, banning talk which questions the efficacy of an emergency use medication, banning talk of using a medication which is on the WHO list of "essential medicines," and questioning the accuracy of reporting on Russiagate. That's the "hate" that caused people to get banned from Twitter and Youtube, and that is what some people, on both sides of the aisle, are concerned about - that expressions of opinion are being censored and it does appear to be happening for political reasons.

That's the truth.

Musk banned Kathy Griffin after she mocked him. This was abuse and it's the behavior of a man with a fragile ego. What we call hate speech is MAGA morons spreading election lies, KKK propaganda, planning attacks, insurrections, and other illegal activities.

Trump is a known liar who will never tell the truth. He's also a known racist who associates with racist people. On top of all of this, he knowingly and willingly used Twitter to spread a lie he spread about the 2020 election. The election was never stolen, Trump lost and his fragile little ego couldn't take it. He has since ADMITTED THAT HE LIED ABOUT THE ELECTION BEING STOLEN. Despite the fact that the lies he told fueled an attempted coup, Musk unbanned him. This action is obvious evidence of Musk's ties to the MAGA terrorists.

The fact that Musk illegally laid off most of the staff of Twitter and tried to force the remaining staff to work unreasonable hours makes him a rat.

In addition to this, Musk used Twitter to tell people to vote REPUBLICAN. This makes Musk a rat. Again, more evidence of his ties to the MAGA terrorists.

As far as Hunter Biden goes, this is the right-wing seeking vengeance on the left because of the investigation into the terrorist activities of the MAGA scum, Trump, and his fellow GQP scum, on 1/6/21. It was a lie then and it's a lie now. Defending them makes you look bad.

At the end of the day, Musk is a rat, Trump is a traitor, and the MAGA scum who juggle his junk on their chin are nothing more than useful idiots (terrorists too).

Stop drinking the Trump-aid.
Strop defending Musk the rat.
Try standing up for your country.

 

[BlueTex]

LMAO... Elon seems a little irritable today...

 

[Dans La Lune]

Government power. The wealthy are the fascist oligarchs in Saudi Arabia. It's certainly not free market capitalism.

Are you from Earth? Arabia was largely barren until the Saudi's aligned with American interests to find and produce oil. America facilitated the rise of Saudi Arabia. It doesn't exist apart from capitalism, is it one of its main engines.

Iran was punished for not allowing itself to become a glorified gas tank, and that is the origin of America's hostility with Iran.

It's a conservative, nationalist, absolute monarchy built on a marriage between Mosque and State. The few control everything, and it's an oil/petroleum based economy with a tiny group of wealthy people, and a large amount of poor people.

You're missing some very key components from your equation. Without America and its need for cheap oil, Saudi Arabia wouldn't even exist. It is kind of American capitalism incarnated as a state.

The government isn’t the only entity allowed to issue money. Private citizens and businesses can too, and throughout U.S. history, they often have. In the 1800s, for example, much of the country’s paper currency consisted of notes issued by private banks. A major time period in the US where private currency was issued is called the Free Banking Era. It wasn't the best way to do things, IMO, but it did happen.

Yes, anyone can create money, including that guy from Monopoly.

It has no inherent value beyond what another person is willing to give you for it, which is based on what that person can subsequently get for it.

Do you know what money is without a government guarantee? Toilet paper. Or a pyramid scheme, a al Bitcoin.

 

[BlueTex]

Ooops...

Twitter is now having trouble paying some employees on time

Employees hit with overdraft fees after paychecks fail to show up on schedule.

arstechnica.com

 

[Dans La Lune]

LMAO... Elon seems a little irritable today...

Baby Elon going bankrupt.

 

[Nomad4Ever]

The greatest public benefit?

Ha. None of the above. I would sooner have my local librarian make the decision.

I think a lot of things would improve if local librarians got to make more decisions.

 

[Dans La Lune]

People were investigating a Nazi type guest on Tucker Carlson and apparently Elon closed down the Twitter threads..

 

[Nomad4Ever]

Everyone on the left loved Elon as long as he was making electric cars.

Only a fool who's imagine of the left comes entirely from consuming Fox news could believe this. I think if you actually paid any attention whatsoever to what the left is actually saying you'll find they aren't especially fond of billionaires believe it or not.

 

[BlueTex]

 

[MrNiceGuy]

Musk banned Kathy Griffin after she mocked him. This was abuse and it's the behavior of a man with a fragile ego. What we call hate speech is MAGA morons spreading election lies, KKK propaganda, planning attacks, insurrections, and other illegal activities.

She was banned for impersonating Elon Musk via her Twitter account. And, last I checked, your side said "it's a private company, it can do what it wants - just holding people accountable..."

Right, your side says Twitter should censor people who allege that certain elections were illegitimate, but that other people who claim other elections were illegitimate should have free reign to post what they want. You're right. Your side wants bias.

None of the bannings anyone complained about were planning attacks and insurrections, illegal activities or propaganda of the KKK. What people were upset about was the NYPost being censored for a valid news story, for people being banned for talking about possible positives of Ivermectin, or questioning the wisdom of government action vis-a-vis vaccines and masks - that kind of thing. That's what your side pretends is "racist" etc.

Trump is a known liar who will never tell the truth.

So is Joe Biden. So is Nancy Pelosi. So is Chuck Shumer. So is every other major politician. The government is one of the biggest purveyors of lies and misinformation on the planet. Not only that, but the government's lies literally kill people, start wars, and topple other governments.

He's also a known racist who associates with racist people.

Absolute nonsense. You just spread the made-up bullshit of his political opponents.

On top of all of this, he knowingly and willingly used Twitter to spread a lie he spread about the 2020 election.

Says you. That's what free speech is all about - people are allowed to have controversial and extreme opinions. Democrats willingly used Twitter to spread their lies about Russiagate. The government used it to spread lies and misinformation about Covid-19.

The election was never stolen,

Maybe not, but tough titties said the kitty. The 2016 election was never illegitimate due to Trump colluding with Russia either. There were never pee-tapes. There was never a hooker in a hotel room that Trump paid for in Moscow. There was never a "back channel" to Russia. There was never conspiracy or collusion with Russian intelligence. Made up bullshit after bullshit.

Trump lost and his fragile little ego couldn't take it.

So what?

He has since ADMITTED THAT HE LIED ABOUT THE ELECTION BEING STOLEN.

He didn't, but so what?

Joe Biden lied about many things as President, and many more in his political career. Big deal?

Despite the fact that the lies he told fueled an attempted coup, Musk unbanned him. This action is obvious evidence of Musk's ties to the MAGA terrorists.

LOL - you sound like you really believe this nonsense.

The fact that Musk illegally laid off most of the staff of Twitter and tried to force the remaining staff to work unreasonable hours makes him a rat.

It's not illegal, and he followed the WARN act, and he also gave the employees the choice - come to work to work hard, or take a 3 month severance. Nothing illegal about that.

 

[Surrealistik]

If modern capitalism is functioning well, and it produces an Elon Musk, who can effectively burn $44 billion dollars and disrupt countless lives / businesses 'for the lols', what does this say about the system?

When I said 'modern capitalism', I'm referring to the choices that the government makes that allows single people or small families to accrue more wealth than some countries. Capitalism, of course, does not exist in any real capacity without government.

It's definitely not for the lulz given how much of his own money he's lost, though Musk would like to disguise his blunder as much.

"I was merely pretending to be retarded to own the libs"

And yes, American capitalism is run amok, and clearly doesn't serve the interests of the people per its rampant and explosive inequality that has surpassed the notorious Gilded Age, real wage stagnation for all but the richest, declining life expectancies and arguably even living standards for the average American, domineering oligopolies and excessive industry consolidations out in the open that Washington permits to exist, monopoly chasing (especially RE: tech/Silicon Valley), regulatory capture and the causal roots of public office awash with private cash and the best influence money can buy.

 

[MrNiceGuy]

In addition to this, Musk used Twitter to tell people to vote REPUBLICAN. This makes Musk a rat. Again, more evidence of his ties to the MAGA terrorists.

So what? You think it's ok for Twitter to support Democrats, but not Republicans? Both parties are lying pieces of shit controlled by the military industrial complex. LOL The Democrat party is the war party now, dominated by neoconservatives who play brinksmanship games with the lives of millions of people.

As far as Hunter Biden goes, this is the right-wing seeking vengeance on the left because of the investigation into the terrorist activities of the MAGA scum, Trump, and his fellow GQP scum, on 1/6/21. It was a lie then and it's a lie now. Defending them makes you look bad.

Pretending it's not real makes you look bad.

The news story should not have been censored. The fact that you support censorship makes you look bad.

At the end of the day, Musk is a rat, Trump is a traitor, and the MAGA scum who juggle his junk on their chin are nothing more than useful idiots (terrorists too).

Stop drinking the Trump-aid.
Strop defending Musk the rat.
Try standing up for your country.

You've been had by the establishment. Did they give you a kiss on the cheek, at least, while they buggered you? You actually think that you support the "good guys" lol. Well, if you're that far gone, enjoy your ignorance.

 

[MrNiceGuy]

If modern capitalism is functioning well, and it produces an Elon Musk, who can effectively burn $44 billion dollars and disrupt countless lives / businesses 'for the lols', what does this say about the system?

When I said 'modern capitalism', I'm referring to the choices that the government makes that allows single people or small families to accrue more wealth than some countries. Capitalism, of course, does not exist in any real capacity without government.

The US government has burned through about $200 billion waging a war in Ukraine, that could have been settled in March. There is no comparison to a private person acting at liberty and freedom to pursue his own interests with his own money and the money of willing participants, to the forced wasting of hundreds of billions of dollars needlessly, to serve the interests of our masters.

 

[Gimmesometruth]

So what? You think it's ok for Twitter to support Democrats, but not Republicans? Both parties are lying pieces of shit controlled by the military industrial complex. LOL The Democrat party is the war party now, dominated by neoconservatives who play brinksmanship games with the lives of millions of people.

Pretending it's not real makes you look bad.

The news story should not have been censored. The fact that you support censorship makes you look bad.


You've been had by the establishment. Did they give you a kiss on the cheek, at least, while they buggered you? You actually think that you support the "good guys" lol. Well, if you're that far gone, enjoy your ignorance.

Gawd, whata meltdown....