Twitter CEO Elon Musk has provided some convincing commentary about his willingness to forgo revenue in order to retain “free speech.” However, more recently he has qualified that outlook by saying, “Freedom of speech is not the same as freedom of reach.” Musk noting Twitter will block, remove, censor, shadow ban, deboost, downrank and stop content from amplifying based on the determination of those in charge of Twitter content.
This controlled “freedom of reach” perspective, which is really shadow-banning in practice, is generally accepted and now admitted. Against this backdrop, it becomes important to understand the priorities of the platform to understand the guidelines of the platform. Within this context the financials are key to understanding what elements are included within “approved content.” {GO DEEP}
Twitter is now a private company, therefore understanding the financials of Twitter is a little more challenging than when they were required to post their financial statements publicly. However, Elon Musk gave an interview with the Babylon Bee yesterday and revealed some of the internal financial challenges. [VIDEO HERE] I am going to summarize the status of the Twitter financial position according to what Musk himself revealed.
♦ Twitter was initially purchased by Musk and his investors for around $44 billion. The company now estimates its value around $20 billion. Musk overpaid.
♦ Musk put roughly $30 billions of his own net worth into the purchase and financed the rest.
♦ Current outstanding debt on the financing for the purchase is around $12.5 billion. Per Musk statement.
♦ Current debt service, interest on the loans (from investors), is roughly $1.5 billion/yr. $120.5 million per month for debt service. Per Musk statement.
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Posted in 1st Amendment,
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media bias,
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