Another day, another outage. Every day is a fiasco with Musk's X/Twitter. X/Twitter down as users report global issues with social media platform People are being greeted with blank timelines as part of the latest outage to the social media platform https://www.standard.co.uk/news/tec...al-issues-social-media-platform-b1116189.html X Has Bad Timing With Tech Issues Thursday After Rival Threads Reports 100M Users https://www.benzinga.com/news/23/10...threads-reports-100m-users-inside-the-struggl
So how is business going at Nusk's X/Twitter? Axios Reports Nearly All Of Twitter's Key Metrics (Except Visits To Elon Musk's Profile) Have Tanked In The Past Year https://www.msn.com/en-us/money/tec...file-have-tanked-in-the-past-year/ar-AA1iTWot
I think that the banks are greatly underestimating the haircut they are going to take if they try to sell the X/Twitter loans. When most financial experts are saying that a company will not be able to meet it's interest payments in 2024, the haircut is going to be much greater than 15%. The banks which loaned Elon Musk money to help buy Twitter expect to lose $2 billion on the debt, report says https://finance.yahoo.com/news/banks-loaned-elon-musk-money-115005663.html Wall Street helped Elon Musk buy Twitter last year by loaning him $13 billion. The banks are now preparing to unload the debt, and expect to take a 15% hit, per the WSJ. The biggest lenders like Morgan Stanley and Bank of America would lose hundreds of millions of dollars. The banks which helped Elon Musk take over Twitter are expecting to lose $2 billion on the loans they gave him, according to The Wall Street Journal. When the world's richest person agreed to buy the social media company for $44 billion last October, $13 billion was loaned by the likes of Morgan Stanley, Bank of America, and Barclays. The loans are backed by some of Musk's Tesla stock. In the year Musk has owned the platform, X — as Twitter is now called — has faced a number of struggles. Downloads of the app fell by almost 30% between July and September, according to data from Apptopia. And the marketing consultancy Ebiquity, which works with 70 of the world's top 100 advertisers, says just two of them advertised on X last month. Fidelity, the asset manager which owns a stake in the company, has marked Twitter's valuation down by two-thirds. That would make the company worth around $15 billion. According to The Wall Street Journal, Musk's lenders have started preparing to unload the debt. Bankers close to the deal told The Journal that X could be given a junk-bond rating, meaning it is at risk of defaulting on the loans, due to both Musk's controversial management style and a waning ad market. People familiar with the matter told the newspaper that the banks are expecting to take a hit of 15%, or $2 billion in total. For the banks which hold the largest pieces, like Morgan Stanley and BofA, that would mean hundreds of millions in losses, according to the Journal. X, Morgan Stanley, BofA, and Barclays did not immediately respond to Insider's request for comment, sent outside US working hours. Read the original article on Business Insider
Just Elon posting more lies... but this is an everyday event at this point. He also demonstrates how stupid he is regularly. Elon Musk Still Hasn’t Deleted X Post Falsely Showing 26 US Military Bases Around Iran: ‘Oh the Irany,’ He Writes https://www.yahoo.com/entertainment/elon-musk-still-hasn-t-184248844.html Elon Musk tweeted a graphic early Saturday of a map showing Iran surrounded by over two dozen American flags, each of which meant to represent a U.S. military base. The graphic read, “Iran wants war. Look how close they put their country to our military bases.” Musk added, “Oh the Irany.” The problem with Musk’s post? It’s misinformation, the sharing of which has plagued his X social media platform since his takeover in October 2022. The map shows 26 U.S. military bases in Afghanistan, Pakistan, and Turkmenistan, none of which exist — as pointed out by BBC Verify journalist Shayan Sardarizadeh and others online. Sardarizadeh was not the only person who attempted to correct Musk, but the tech mogul’s post remains public and viewable at the time of publishing, boasting 53 million views and 105,000 retweets. The last U.S. military base in Afghanistan was Bagram Airfield, which the United States vacated on July 2, 2021. In May 2022, former Pakistani Prime Minister Imran Khan said Americans approached the country after withdrawing from Afghanistan and asked to establish military bases; he found this request “absolutely unacceptable.” Now 11 hours after first sharing the post in question, a community note has been add to the bottom of Musk’s Iran graphic, reading, “There are no U.S. military bases in Turkmenistan, Afghanistan or Pakistan. Even the military bases that do exist in the Middle East are not nearly as many as the post would have you believe. This exaggerated flag-based approach is alarmist. This post is misleading.” On Saturday, Musk also tweeted that Starlink services will be made available to “internationally recognized aid organizations” in the Gaza Strip. The territory has come under heavy military action by the Israel Defense Forces and all communications have been knocked out. The post Elon Musk Still Hasn’t Deleted X Post Falsely Showing 26 US Military Bases Around Iran: ‘Oh the Irany,’ He Writes appeared first on TheWrap.
So Musk has Twitter roll out video & audio conferencing. And it's already failing and not working for the beta users. LOL Elon Musk celebrates a year of owning X by adding a new feature absolutely no one wants https://www.businessinsider.com/elon-musk-x-rolls-out-audio-video-calls-everything-app-2023-10 X just rolled out its audio and video call service. It's currently only available to certain customers. This is the latest in a series of new features introduced since Elon Musk took over the company. Elon Musk just launched X's latest feature: the ability to make audio and video calls on the platform. This idea has been in the works for some time, and Musk clarified this week that these are currently "early versions" of the site's new communication tools. It's unclear whether this service is only available for users who pay for verification through X's Premium subscription, which costs $8 a month on the web and $11 a month on the app. X did not immediately respond to a request for comment from Insider, made outside normal working hours. The new features have failed to impress some X users, however. "Who asked for this?" read one post on X. "Elon is wasting money on pointless things — we already have WhatsApp, discord, and default messaging apps?" "That sounds great for those who want it, of which I am not one," said another user in response to Musk's post. Musk has spoken often about his plans to transform the platform – formerly known as Twitter – into an "everything app" similar to China's WeChat, which offers messaging and video chatting, food delivery, banking, and shopping among other things. Since he took over the company in 2022, he has added a series of new features, including the ability to post longer videos and an overhauled paid verification system. He also said that X will soon begin offering financial services and the ability to pay for things – promising that users would be able to manage their "entire financial world" on the app. For all its new features, X has still struggled to reverse a drop in users following months of chaos on the social media platform. The X app has lost 13% of its daily active users since Musk bought the company last year, according to data from Apptopia reported by the Big Technology newsletter.
Elon Musk's Tantrums Reportedly So Bad After Buying Twitter, Staff Considered Calling For A Wellness Check https://jalopnik.com/elon-musks-tantrums-reportedly-so-bad-after-buying-twit-1851007678