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A $19B valuation is based on the hopes and fever dreams of Twitter evolving into PayPal when it’s actually becoming Elon’s version of Truth Social.
https://www.theverge.com/2023/10/30/23938969/x-twitter-valuation-19-billion-employee-shares
@carnage4life The idea that millions of people would trust #Twitter / X to handle their money after all that's happened the last year seems... odd.
@BruceMirken @carnage4life Whatever protections Musk thinks he has in place to make his scheme viable, I guarantee they're not enough.
The key demo for this product are the "unbanked." But there's a reason those people don't have credit cards and checking accounts.
@carnage4life Puttin' aside Putin, he's either utterly incompetent or a stellar student of Mitt Romney.
@carnage4life It will likely be a disaster for employees who get RSUs from X. Since the company value is dropping so fast, they might end up paying more taxes than they could get from selling the stock forward (if someone would even buy it from employees).