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Elon Musk’s Twitter Nightmare: From $44 Billion Dream to 71% Valuation Crash
The acquisition of $310 billion, experiencing a staggering 71% decline, stands as a profound revelation for Musk, the preeminent figure in global wealth during 2023. The unprecedented devaluation of Twitter, procured with a substantial monetary investment, was unveiled in the latest data disclosed by Fidelity, a distinguished investment management entity. On January 2, local time, the revealed figures indicated that the present valuation of the social media platform X (formerly Twitter) has contracted by 71% from the time Musk orchestrated its acquisition at the conclusion of 2022. Musk’s acquisition of the X platform, valued at US$44 billion (approximately RMB 310 billion), now echoes with a mere resonance of approximately US$12.5…
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How “Threads”, Meta’s Twitter Copycat, Has Hijacked 100 Million Disgruntled Users And Upstaged Musk
Threads is a product developed internally by Meta. It has attracted as many as 100 million users in just 5 days around the world, and most of them are “migrated” from Twitter—they A large part of the reason for “moving” is out of dislike for Musk. Especially in early July, Twitter began to limit the number of tweets that free users can read per day, semi-mandatoryly requiring users to “pay to browse”. The move caused an uproar on the Internet. Three days later, Zuckerberg threw out the long-awaited Threads. Although from a functional point of view, Threads can’t talk about any innovations, it is basically a pixel-level reproduction of Twitter-and…
