X Is In BIG TROUBLE Under Elon's Leadership
October 27, 2023
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11:30Now PlayingX Is In BIG TROUBLE Under Elon's Leadership
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as posted by the channelAdvertising and engagement on X, formally known as Twitter, has plummeted under billionaire Elon Musk's leadership. Ben Gleib and Rayyvana discuss on The Young Turks.
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"X, formerly Twitter, has hemorrhaged users and advertisers in its first year under Elon Musk's ownership, according to new data provided to Axios.
Why it matters: Investors who backed the deal hoped Musk's track record and vision would supercharge X's popularity and value. That has not happened, at least in the short-term.
Fidelity, one equity backer, was holding Twitter at a 61.43% discount through the end of August.
Banks are expected to take a 15% discount on debt they've thus far been unable to unload, per the WSJ."
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