Elon Musk knew he made a bad bet on Twitter. He was right

From TFA:

>Fidelity, one of Musk's equity co-investors, marked down the value of its Twitter shares by 61.43% 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.

> * Global app downloads fell by 38% between October 2022 and September 2023, and even steeper in the U.S., according to Sensor Tower estimates.

> * Monthly active users are off 14.8% globally on Android and 17.8% for mobile users in the U.S., per SimilarWeb. Average daily time spent per user and global web traffic are also down, while user churn is up.

> * Musk last month said that the company's U.S. ad business was down 60%.

Think of all of the amazing, world changing, course-of-history altering things that could be done with $44 billion.

I think Musk bought out Twitter for marketing purposes instead of developing his own Twitter like app. He don't care about losing money, but sending a message about his Space X and Tesla companies.