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this post was submitted on 18 Sep 2023
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Technology
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One of the richest people in the entire world wants still more money. Tell me again how "trickle-down economics" works?
Ok, I loathe the man, hate the shit show he's made TwitX, think he's a clown, generally hate billionaires, etc. But this is kinda a really stupid comment.
Hi @ripcord, we have one rule on Beehaw - "Be(e) nice". In the future, please be respectful of other users when posting in Beehaw communities. Thanks!
You're right, I could definitely have written this in a more respectful, constructive way.
No, see, it's like an inverted pyramid, and the little our overlords permit us of the product of our labor trickles down to them, you see.
He's the wealthiest man in the world. That doesn't mean he has a lair full of cash and just wants more. People really struggle to understand the difference between wealth and money in the bank. This isn't about hoarding money just for the sake of it.
I understand the difference, but he's collecting stuff just because it's shiny. He's short of cash because he has no impulse control, and I fail to see why he shouldn't fail the same way other people who overextend themselves fail.
What makes you think he's short on cash? Wealthy people don't store their wealth in cash anyways. The money is tied to the stocks of the companies they're running. That's why he needed to lend the money for twitter too; he doesn't have that kind of cash, but people are willing to borrow it to him because of his wealth.
If you just had read the article you'd see that they have lost 50% of the advertisers and are losing money. This isn't about wanting more money just for the sake of it. No company can exist if their finances are on the negative.
And yet here they are...
What are you saying?
You aren't going to tell me Musk doesn't have some cash laying around.
Is he just supposed to pay for the running of twitter out of his pocket or what? It says there they've lost 50% of advertisers, and are making negative profit. That isn't sustainable. The purchase of twitter has cost him 40-something billion, and still keeps costing him even more. It's not about just wanting more profit, but to atleast break even.
It's a self inflicted wound. Can't bring myself to care.