The Intelligence from The Economist A bird out of hand: Elon Musk and Twitter
Jul 14, 2022
Tom Wainwright, the Technology and Media Editor at The Economist, and William Warren, a Creative Producer, dive into Elon Musk’s tumultuous deal with Twitter. They dissect Musk's about-face on the acquisition and Twitter’s ongoing struggles with profitability. The discussion also touches on the pandemic-fueled rise of traditional herbal medicine and its market success. Additionally, they reminisce about Mario Paint, celebrating its cultural impact in digital art and creativity that still resonates today.
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Twitter's Real Problems
- Elon Musk's Twitter takeover bid is causing drama, but Twitter faces deeper issues.
- Regardless of ownership, Twitter's core problems remain.
The Twitter Deal
- Elon Musk agreed to buy Twitter for $54.20 per share, which seemed reasonable initially.
- However, tech stocks crashed, and Twitter's share price dropped significantly, making Musk reconsider.
Twitter's Profitability Problem
- Twitter struggles with profitability compared to other social media platforms due to its smaller user base (200 million vs. Facebook's 2 billion).
- It also hasn't innovated or changed as much as its competitors.