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Elon Musk's X claims it's now a 'video-first platform' as it tries to reverse an advertiser exodus that has cost it billions in value (fortune.com)

submitted 10 months ago by stopthatgirl7@kbin.social to c/technology@lemmy.world

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The claim is a major departure for the service, which has long been known as a destination for posting short snippets of text.

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[–] gregorum@lemm.ee 3 points 10 months ago* (last edited 10 months ago) (1 children)

it would be accurate to say Musk assigned the value of $44B to Twitter by paying that much for it because that’s how capitalism works. He instantly inflated the price by paying far over its previous market value in a stupid showboating maneuver, and has, in doing so (as well as his subsequent antics) totally screwed himself and his investors by causing it to lose 71% of that value.

[–] ech@lemm.ee 1 points 10 months ago

Correct.